Could be close to a bottom here...

S&P 500 – The SPYs broke support at the $270 level. This level has been resistance over the past two days and will probably continue to be resistance in the short-term. If they head lower, there should be support around the $260 level because it is where the lows were from February through May. Remember that bottoms are always more volatile than tops. That’s because selling is driven by fear and buying is driven by hope. They are oversold and have had huge volume trading, so they are probably close to the end of the recent selloff.