that's good analysis. I believe we test 1074 on SPX this week....the October low. Look at "Volume by price" on the SPY. There is an air pocket down to $107. The panic swelling this week could be unreal. Think about Friday, the put/call only landed at 1.18. Need 1.5 for a true train wreck and buying opportunity. That's only a 16% drop, far less than the 27% Dow drop on Black Friday 1987. With the PPT and trading circuit breakers in place we could easily do a 16% drop in 5 trading days but perhaps not in one day.