Bri, This market will hopefully bottom around October, it's a guess right now but will be able to tell with certain degree of certainity once we get to August/September.

Latoboy, 1273 has been a support but it is not a strong support. I am looking at the trend in high-yield bonds, long-term MA and the options strike price with activities. Majority of the options buyers lose money so I am trying to find the price where the majority will suffer the most pain and it is around the 1240-1260 range, so I think the market will find more support at that price. Looking at the way futures are trading right now, we can possibly get there today.