We have not seen a closing 300-point Dow drop for quite a long time, and volatility seems to be returning to the market with ranked volatility on the rise.  The action was dismal from the start.  Today’s action erased 4 days of progress by the bulls.  It may still be a bit early to decide where we go within the 1310 and 1340 range of the S&P500; we certainly have to keep an open mind.  The markets are finally starting to price in recent poor economic numbers as well as the potential for a poor jobs number on Friday.  A better than expected number on Friday could certainly help the bulls on any further weakness tomorrow.