Intraday Flameout-

While I don't consider this to be a significant event, I know some of you have had questions about the DIA positive short term chart intraday divergences working in to the close.

I would not consider this AT ALL a trade with an appropriate Reward vs. Risk ratio, but if you need to know for some other purpose (as a gap fill would likely take more than just a selling / capitulation event, but a base of some substance) then you should see these charts. Again, I would not consider them useful for an intraday trade in to the close, I think we need a "W" base or something of the like before there's enough support to even consider a gap fill. However as a Fractal concept that works both intraday and as I already posted in the last post on a daily basis (hammer on increasing volume) as that's something to look for in to the closing daily chart, 

These are good examples of an intraday flameout of selling event also known as short term capitulation.

The actual concept is useful in ANY asset and in ANYU timeframe from 1 min to a monthly chart.

 SPY 5 min with a Hammer on increasing volume, making the bullish reversal candle about 3x more likely to be a valid signal, although VERY short term as there's no "W" base in place, but it may play in to the closing candle's formation, possible hammer if we see some upside in to the close intraday.

A closer look at the same chart, Note the 5 min Hammer Candle (bullish support/reversal candle) on significantly higher volume, suggesting the intraday flameout or selling/capitulation event mentioned as a possibility to watch for earlier today.

 The SPY 30 min chart has a similar candle, this is more significant as a 30 min chart.

 The same on the IWM 5 min chart AT THE SAME TIME

AND THE QQQ 5 MIN CHART, AT THE SAME TIME.