Another look at the SPY

I suggested in the last update that an inverse H&S pattern seems to be forming...

 Here's the current price pattern, very much like an inverse H&S bottom, but volume needs to pick up substantially in the area, especially on a breakout. Volume is more important in inverse H&S bottoms then in H&S tops.

 Here's the 1 min 3C chart that continues to move in a leading positive divergence, but....

When zoomed out, you can see that 3C is actually below price, meaning it's showing the short term positive divergence, but within a negative overall position.