Quick market update

The intraday 1 min timing charts I've been watching since the a.m. lows were taken out are responding, at least in SPY, IWM and QQQ.

There's also a large volume spike, likely downside flameout in the SPY and DIA.

SPY 1 min volume looks like an intraday capitulation flameout.

Yesterday's VXX put position, Trade Idea: VXX Puts (speculative),  was entered as Speculative, half size. Being the move is so parabolic in VXX, "IF" 3C INTRADAY 1 MIN CHARTS STARTED RESPONDING THERE AS WELL...I'd consider bringing that put position up to full size.

I'll let you know if I see it and of course I'll post any trade ideas here first.

Don't get me wrong, as I said earlier the market looks horrible, this TICK chart looks horrible, but it has improved since the downtrend channel.

We aren't expecting the market to rescue itself here, just wait until you see the core position (leveraged ETF) charts, horrible, but we are only looking for a near term, quick move.