Market Update and Tactics

There are positives in the SPY, QQQ and barely in the IWM, but more importantly the SPY arbitrage assets or levers are seeing intraday (1 min mostly) divergences to send HYG up, TLT and VXX down which is bullish manipulation to help the market.

Please remember what I have said all along, "Wall Street isn't going to make this easy". If you are a new short coming in to the market thinking you are going to ride the gravy train because price moved down, you're in for a surprise, Wall St. can't make money with the herd all following price, they will try to shake them out, stop out new shorts chasing price today. Be prepared, but as I've shown, the longer term charts show this market looks broken beyond repair.

I'd be looking at any counter trend bounces (and again they'll have to be strong and move emotions to shake shorts lose after the market lost the gains it had earlier and then plunged, that's bad action for the market.

I'd look at using any price strength to fill out existing positions and  enter new ones. Your emotions are the best reverse indicator you have right now.

I'll keep an eye on how things progress and where opportunities are because, WE NEVER WANT TO CHASE-WATCH WHAT HAPPENS TO THOSE WHO CHASED.