September's Gain Down the Drain

That was fast.  In less than two trading days, the S&P 500 has now erased all of its gains from September.  Based on the futures, the S&P 500 is poised to open down more than 1% at a level of about 1,013.  This is more than seven points below the index's closing price from August 31st.  Even after today's weak open, however, the S&P 500 still has a ways to go before the lows from September come into play (991.97).