No, not talking about elastic undergarments; I'm talking about the S+P. If I were a market timer, which I guess I am not; or a technical analyst; I would say that the break through the 1085 level is sort of alarming to me. Numbers are just numbers, but the S+P's relationship with 1085 over the last year has shown that it's a level where there was a nearly bottomless well of support. The S+P has had no problem breaking stride with the Nasdaq to maintain this level on numerous occasions.
That's clearly pierced today. I think this means the market may have a ways to fall.