Market Update

Normally I might consider playing a bounce as there would almost always be a bounce on a day like this, but I require signals to enter positions. There a large enough reversal process in place in almost all of the averages (except the IWM), the VXX is too parabolic on it's move up and it is the only hint of negative divergences 1-3 min that suggest a bounce, the 5 min VXX is VERY strong.

This means that we should get a bounce in to the gap, but there ARE NO INTRADAY POSITIVE DIVERGENCES TO SUPPORT THAT PROBABILITY WHICH I DO THINK IS A PROBABILITY. THIS IS A NEW LEVEL OF WEAKNESS IF 1-3 MIN. INTRADAY CHARTS CAN'T EVEN GIVE ENOUGH OF A POSITIVE FOR A SMALL GAP FILL.