Update

 The Euro in green helped lift the market for the test of the flag's resistance. A move down here will add strength to the dollar intraday and put pressure on the market intraday.

 This morning's SPY action. To the right there's the start of a negative divergence at the test of resistance of the bear flag.

 As for the slightly longer term picture, meaning the short term bounce I talked about last night, The underlying weakness in the dollar here is equity/stock positive. This is more relating to a bounce over a day or tow, and not the intraday action we've been watching and what I referenced above.

 UUP 10 mn is also showing underlying weakness which should help a bounce.

The same is true of the more important 15 min. UUP chart.