The following 15 minute cycle charts highlight just how much of a mess this first 90mins of the trading day has been.
IWM'15min
VIX'15min
sp'60min, H/S formation
Summary
The hourly cycle on the various indexes is still suggestive of a move higher, the H/S chart highlights this possible move into opex Friday. However, both the index and VIX 15min charts are bearish.
I'm staying out of this mess, at least until late afternoon. Its possible all the cycles will re-sync by 3pm, and if the indexes are maxed out, it'd be a tempting short.