S&P 500 close November 15 2012

Although the market was down it held above 1350 after testing it twice and one of those the last half hour of trading.  The S&P 500 is still holding in its oversold condition.  I think we could bounce a little off these levels but probably expect a retest of 1350 first.  The VIX was essentially flat today, holding at 18.  Still a very orderly sell off and no panic moves.  Long term sentiment has not changed.