Via JPM's Mike Krauss - "On the heels of Global Equity market collapses today, the S+P 500 Cash Index is accelerating below our last major support confluence of 1100-1060. A few closes below 1060 or two straight eekly closes below 1093 would suggest that the decline from Oct 2007 is not just cyclical, but more secular in nature. On thing is clear, the downside momentum in stocks is much stronger than we had thought. Being October, Equity crashes have tended to bottom in the Oct 10 to Oct 25 time frame.... so its still a bit early in the month." Next support is 1019/1015 with macro support at 954. After that it is the bear market lows of 789 in March'03 and 769 from Oct 2002.