Let me start by expressing my deep sympathy for the affected people in Japan. We should all stand by them and extend our supportive hands at this hour of misery.
On the market front, the intra-day low of SPX was just above its 100-day MA. Long-only traders who were waiting for a correction may get long at this point with a stop-loss just underneath 1259 on SPX. This is a great reference point to trade around.
