After apparently making their intentions known Tuesday the markets rested today. I expect tomorrow to be an up day. There's a gap at 825 on the S&P that's begging to be filled. I expect at least a half hearted attempt at that to emerge tomorrow. The problem is that everyone sees it. Maybe it won't matter and it will get filled with a spirited short covering rally. I'm aware options expire this week and that may play a role as well.

I'm really more interested in Friday and Monday at this point. If this market really is going much lower from here it won't mess around for long.

So a good trade may be long the S&P looking for the move to 825 and then a short from there. I'd keep a stop just below yesterdays low.  

That's really all there is tonight.  Nothing complicated. Enjoy the calm before the storm.