I'm starting to feel oversold.....

Don't get it twisted. I know we have issues, and as early as last evening I wrote about how I didn't feel great about this market, but I'm already feeling oversold here. I know Europe sucks but haven't we priced that pain in already? Did anyone really think the Greeks wouldn't eventually default? How about the fact that China will most likely be lowering rates as CPI is now declining? What about the strong corporate earnings and guidance?? But hey, we're just about to hit new lows on the day, so what do I know?