Market Update Cont... Charts

So the market has filled the gap for the most part, the Index futures intraday (1 min) are mostly in line, the NASDAQ futures are seeing some 3C drag, but beyond that with the longer charts, they are still in trouble.

The averages show a good composite picture of the market and VXX which I'm happy with my earlier decision as it still looks great. I don't think it is probable that we see an immediate reversal from the gap fill, but likely some intraday chop, this would actually be useful in identifying any short term opportunities that may be worth the risk, UVXY as a long equity play is probably the only one I would consider right now, I don't favor options at this moment, at least with regard to VXX/ VIX futures.

 DIA 1 min intraday has nearly filled the gap, the intraday 3C chart though looks very bad here, worse than it did Friday so I would still expect things are on course ( a market pullback- just as a gap fill was evident this morning).

DIA 10 min virtually makes a pullback in the market a certainty , but again this is short in duration. The "V" base from which the market lifted is simply not enough to support a move much larger than what took place last week, this is why a pullback to widen the foot-print of the base is needed.

 IWM intraday filled the gap and then some, but 3C if failing quickly now.

The same is true of the Q's.

The SPY is still in line, perhaps because it has not filled the gap, but the larger, more important pullback signals are intact.

For instance this negative 3 min chart. Again note the "V" reversal, these aren't all that common because they are weak, this is what I call a reversal "event" rather than a reversal "process".

The NYSE TICK data is very helpful intraday as well, it has been trending up as the gaps were filled, once most were filled it is breaking below the trend.

On the market gap fill, there was VERY little   to almost no damage to the VXX intraday chart.

Just beyond at the 2 min chart, VXX is leading positive very strongly and VIX futures confirm the same, thus the VXX calls look like they'll be fine and I'm happy with my decision to sit on my hands regarding them this morning,

Now to see if there's anything of real interest for a short duration play beyond the VXX (or leveraged UVXY as a long equity position).