Still too early in the day.
There is one way to look at this market: For the bulls, they must reconquer and then hold as support, the bad breadth day of 20:1 down stocks that created the gap from 1115-1107. That will take a lot more buying conviction and a super-belief that stocks like Apple are still a bargain at $270. For the bears they must break under the H&S neckline at 1065. That will take more selling conviction.
I still like the bears here in a huge move down once this thing "exhausts". Again, the economy is not healthy as consumer contraction is getting worse http://www.consumerindexes.com/