Market Insider

Traders watching for signs on the Fed, China

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Tuesday's rocky trading session...in 60 seconds

Wall Street could be in for another rocky ride Wednesday as traders continue to eye China and await indications on the timing of a rate hike from Friday's jobs report.

"I think given the direction of the global (markets) and given the lack of clear commitment on part of the Fed (holding off) there's a significant possibility that we retest the lows of last week," said Krishna Memani, chief investment officer at Oppenheimer Funds.

The (VIX), widely considered the best gauge of fear in the market, crept higher Tuesday to above 31.

Read More Tuesday's market statistics roundup