3C Hourly

This is one of the broadest measures of institutional activity in the SPY

Here's where the 3C hourly stated out with the hour from yesterday to 9:45 this am.

Here's where it stands now, note the scale has not been changed

Not only is there a negative divergence at the top of the SPY's range, but the leading divergence is worse in a matter of a few hours. This hourly timeframe does not move easily or arbitrarily.