The long-awaited correction is in full effect, with stocks accelerating to the downside on renewed concerns over Greece and the Eurozone. Watch the 1,340 level on the S&P 500 (now at 1,343). This is the March low, and is the only support above 1,300. I do not think 1,340 will hold, although we may bounce off of it today, at least temporarily. I will likely start to add some positions once we get down close to 1,300, although I think we could go to 1,250 or even 1,200.