This is important support and if the market will find a bottom this is about where it will be.
At the least I think the stock decline may take a pause for the GM IPO. The Street and the government have a vested interest in its success.
"Our government is the potent, the omnipresent teacher. For good or for ill, it teaches the whole people by its example. Crime is contagious. If the government becomes a lawbreaker, it breeds contempt for law; it invites every man to become a law unto himself; it invites anarchy."
Louis Brandeis, Olmstead v. United States, 1928