I say the S&P has just put in a short term bottom today or is within 5 points of doing it and will close no lower than 1265 in the next 11 trading days.
I may have been wrong by .97 and the H and S intraday pattern let the bears get it there but I still stand by my call that a short term bottom is in. From now until March expiration the S&P will trade between 1260 and 1310.