After the gap-up open, we drifted slowly lower into the close. Banks popped on news of dividends but faded fairly fast. Big technology names acted very poorly with Apple lagging. Probably the biggest disappointment this week was not being able to manage a very good bounce after the nuclear situation in Japan finally calmed down. We were technically oversold and had some positive news, but the dip buyers failed to deliver a vigorous bounce. Even though the VIX reversed hard off its highs of two days ago, it still sits at a point of support.  Now we are set up for some post option expiration weakness and a potential test of the lows.Â
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