The futures had a nice down trend today. i didn't think the S&P futures would take out the January 24th lows today. After the E-bay earnings, those lows were penetrated by 1/4 point at 4:43 pm EST in the after hours.
The January 24th lows were taken out yesterday in the Nasdaq.
The January 24th lows were based on a day when the S&P was down 4% and it reversed to close up on the day. The biggest reversal day since November 2008. Many market participants expected those lows to hold.
There are two trading days left in the week and three trading days left in the month. The VIX was at 31 by the close today.