Are The Options Exchange Breakages Responsible for Today's Dismal Performance and Why do They Keep Breaking

I'm sure you already hear this and I've been doing a lot of analysis to see if there's any truth to the market losing ground from last night's futures open because of exchange issues which are now a weekly occurrence with the CBOE and C2 options exchanges going down earlier today causing BATS to go down because of the OPRA problem at CBOE and following with the NASDAQ halting all options trading.

I don't think the question is so much about how this effected today's market performance, but more so, "What happens when all heck really breaks loose?"

I've read that some are saying the dark out in options sent the market down and this certainly must be a factor, but there were issues with the market long before this event occurred as you can see in earlier updates and even last night.

The Index futures that were split with a bias to the negative with ES and TF looking bad (TF the worst) and NASDAQ looking pretty good has now been resolved for the time being in that all look horrible, but the NASDAQ had filled last night's gap up long before the exchanges went down for options trade.

Here's the current 5 min charts for the Index Futures.

 ES since yesterday's open of futures, remember the large decline right at 9:30 on volume in all of the Index futures. The Options systems didn't go down until after 1 p.m.

NQ 5 min leading negative, ES is worse however.

And TF leading negative almost completely filling the gap up.

Still, the larger issue looms, if the exchanges are breaking down nearly on a weekly basis with a market not in panic mode, what happens when it does go in to panic mode and this is to say nothing of other issues like HFTs and leverage.