Retest of the lows??

Worse than expected manufacturing data, combined with less than impressive employment numbers in the U.K and residual fears about Greece and the market is spooked yet again. With the large down gaps and the ES potentially opening below the lows (if it stays where it is) will set us up for another gap and go type of day. Psychologically this must be a huge blow to those that thought Monday was the bottom so don't be surprised if we get an avalanche of selling today.