The market is proving that it can still go down although it's trying to bounce now. Yesterday's ugly action is being mostly attributed to the worse than expected ADP employment report, although Time Warner, Alcoa and Intel kicked in with bad news of their own. Today, Walmart is getting involved and tomorrow's job number should be horrific.
The PGA tour season starts today which is a welcome diversion.
If you're not the trader type, stay defensive. As a wise man who I don't know wrote today, "The sell buttons are usually right next to the buy buttons."