Early Update: Can the market hold here?

Early action in the market is rarely reliable, but for now that's all we have.

Averages 1  & 2 min charts.

 DIA 1 min with a strong open and fading a bit

2 min still strong, added some strength early today

IWM strong open and moved to in line

IWM 2 min the same thing.

QQQ 1 min in line

QQQ 2 min is actually leading, but the trend is continuing from yesterday- it's really more the 3C trend that is inline.

SPY with a stronger than expected open and still leading

2 min strong open and in line

TICK chart trending up and now moving in to the +1000 area, pretty strong.

UVXY- Glad I closed the calls yesterday, doesn't look so good very near term.

2 min doesn't either.

I wouldn't say anything is conclusive yet, but I would say that all of the readings point more toward higher prices from here and all of them look much, much better than they could otherwise look if things were really falling apart early.

For now I wouldn't back away from yesterday's late idea or thesis of market action, of course we may have to adjust, but I don't see anything yet that suggests that course of action isn't still the most likely, even with the less reliable a.m. trade data.