Quick Market Update

 There's been a longer term relative divergence in the SPY (zoomed out it's much worse), but I think there was something else and the leading divergence is just on the market decline.

 The longer charts show that there's been underlying distribution pressure and seem to pinpoint the 1 pm area more acutely (2 min).

 For instance this 5 min, the first relative negative divergence today slowed momentum and sent the SPY lateral, the second was stronger and at the 1 p.m. area. The fact the 5 min chart is leading negative would suggest this is pretty strong distribution.

And this is the overall pressure I mentioned above on a 15 min chart. Again, 1 p.m. was the breaking point on all of these.