The S&P traded last week near the low's of january and it seems that it's just a matter of time before those levels crack! Next week i expect a short rebound to 1325 and that level is a perfect selling moment because we are still in a bear market.
I think that the hedge fund worries will trigger a selloff to the first support level at 1225. Hedge funds brought the market up the last 4 years but when they cann't meet their margin calls anymore you got to think twice! They have to sell at any price so stocks, no matter good or bad, they have to go down. Sure the souvereign welth funds are going to buy stocks they like but they can easily wait untill they see a nice price.
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