Alternative Path

[gdl]

NOON TIME - down 60 BUT the VIX has barely budged. Extreme complacency where everyone is absolutely sure this is just a 3 day correction and they can BUY BUY BUY till new years with a great entry point. By 1:30 i expect the temporary (or permanent) lows to be established. 3760 should be the lowest point it can get. The buying from 1:30 to 2:30 will be interesting to watch. If it is slow and drawn out but upward I would suggest another round of drops for last 1 hour to 1:30. It can just create a double bottom at 3760 or break below. THE action in last 30 minutes is more telling to see if this correction stops here or morphs into a real crash.