$SPY just dropped nearly $10 in the first 15 minutes. Absolute carnage at the open. That's the kind of flush that either sets up a bounce off key support or signals real distribution. Watch the first hour low — if it holds, could be a washout entry. If it breaks, we're hunting the next gap fill lower. VIX probably spiking hard, which means premium sellers got their faces ripped off. This is where you separate who's trading structure vs. who's just guessing.