The market was crappy pretty much all day, but it really started to kick downward after the Fed minutes were released.
Looks like China may have led the US.
I would like to think the SP500 sees a healthy 3% (or so) pull back toward 1450-1460 area, but I am not convinced that will happen just yet.
Taking a cue from market leaders, despite today's decline, they are structurally sound from their high-momentum short-term SMAs. I'm looking for the stocks to start cracking the SMAs to see a real pull back. GOOG, GS and VLO are examples.