bric, i think most of us here are bearish and have been bearish for a while now.

so with all the selling we have mostly enjoyed the action... However there is still more downside and i am just surprised there wasnt many sellers today.
the vix needs to go higher as well..

as for oil, it broke out last week... everyone says oil prices will crash.. but i find my personal opinion is oil has strong fundamentals... even if it does crash it will only be temporary as it will climb right back up within weeks/months unless there is some new regulations or laws that prevent..

regarding s&p , i dont know why emini u dont mention anything about s&p 1273... that is the support from march lows... it still hasnt been touched since.  so why you assume market will just roll past 1273 into around 1250. friday came close to testing 1273, but didnt touch it... it would have been a perfect place to exit short positions.