back to 1100?

So the S&P 500 is teetering precariously at 1200.  Trading right below its 20/50/200 day exponential moving averages and just below its 50 simple MA. Could it possibly re-rest the lows of 1100 on the S&P set back in early August and October?  Economic date in the US is mixed and optimism coming from the EU is fading.  The pundits say it will take a catalyst to drive this market up and above the 1265 mark on the SP500. I would think a catalyst of the same magnitude but to the negative would be the catalyst to the drive this market back down.  The what and when are the only questions left.  Just a fact to keep in mind, when the market leaders are all recently beginning to trade under their 200 DMA's, it is never a good sign.