1:28PM UPDATE

DIA @ 90.98 after dropping to a low of 89.99.

VIX is down to 54.50 from a recent double-peak over 56.

PUT/CALL volumes are neutral now, indicating nothing really now. Earlier today there were call volumes and falling VIX on the price decline, which implies a good bounce. We had the bounce and now we are trying to find a base. The base we found was yesterday's price action and it has held so far.

Price action is down, with the DIA falling to YESTERDAY'S price cluster where we saw the "CRAZY CALL SELLERS" driving down VIX by 15 points and setting up for this launch up from that level.

I thought and thought about putting out a new buy against the 90.00 price cluster because YESTERDAY I had said that I thought that level would hold for a LONG TIME and one day is not a long time. I don't want to make "predictions" - rather I want to define low risk entries for trades based on what is happening with this "three dimensional view" of the market.

Let's wait for further clarity to set up a lower risk trade.

1:34PM EST (6 minutes to type out)