Given the volatility expansion the SP500 has another 50 points downward action from past metrics. Puts it at 1364 on the SPooz. Bond market touched the 4.4% handle in yield as expected. Yen was called back drop more then 200 pips. Its target is 116.60. Nikkei's target is 17500. Be cautious in trying to step infront of this train. The sp500 didn't breach its old highs, and given this type of trading it could easily print a double top like pattern. Given the state of the economic cycle, we could easily see 1250 on the SP500. The volatility expansion would have only boded well if the spooz broke its previous highs and then collapsed. Given the trading patterns of some of the larger traders, there are some who have walked away today with more then 100 million dollars in profit.