Will We Make New Lows?

Let's see if the previous lows hold today. The Dow Jones made a low of 7449 and the S&P 500 741 back in November. The closing lows were 752 for the S&P 500 and the Dow had a closing low of 7552. I hope investors see this as a buying opportunity and send the market back later in the day.  We still have a ways to go to reach the S&P 500 low, but we are awfully close to reaching the Dow Jones low. It will be a matter of how much bad news is priced in or not, did the previous lows price in the worst economic news? We could find out today.