It's been relatively quiet so far today other then the opening, we did see similar action yesterday with the close giving up the most in terms of percentage loss on an intraday basis, however this could also be some calm before the FOMC meeting, we'll have to see.
SPY 1 min is entering a slight leading negative divergence here.
I would call the 5 min in line, with a slightly positive reading right now, but as it stands, the 1 min moves will be most important and then as they bleed in to longer timeframes those will be more important.
The close up of the 15 min shows continued deterioration in the form of a leading negative divergence, the box in red is today alone.
This is the same chart zoomed out showing the last 2.5 days of leading negative divergence in the SPY, which is greater then any other leading divergence on the chart, positive or negative.
The 30 min chart is leading negative since late Thursday and making new lows, showing Thursday as what it appeared to be, a chance to sell/short in to strength on a false breakout.
The short term DIA looks a bit different, the sector chart showed industrials stronger then financials, so the DIA looking better isn't surprising vs the S&P, but the difference in the divergence is a bit surprising, we'll have to see if the DIA can move off this divergence.
The longer term 30 min chart is also like the SPY leading very negative.
Short term 1 min QQQ shows a slight bit of positive divergence currently so it will be interesting to monitor, it is relatively new and not all that well formed yet, so whether it continues or is just noise remains to be seen,
The longer 30 min QQQ chart again looks like the others.
The IWM isn't giving any hints yet as it is in near perfect confirmation short term
Of course longer term it is hitting new lows-leading negative.
I'll take a look at some other charts to see if anything pops out, right now is strangely quiet.
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