Something Interesting in the underlying action...

As the Euro and market slip and Dollar gains, the underlying 3C action show something interesting.

 Euro saw 3C moving in the same direction earlier this morning, there was no negative divergence in the FXE/Euro-I highly doubt the Egan Jones action was a complete surprise. In any case, the Euro 1 min 3C is actually in a leading positive position, suggesting there's support building in as it slips. I'd expect to see the mirror opposite in the $USD/UUP which is below.

 Early confirmation in the $USD and a current leading negative divergence as price moves up, this is confirmation of the Euro chart above.

A for the SPY...

It also, like the Euro (as would be expected if the SPY was confirming the Euro/Dollar signals) is seeing a positive divergence on the 1 min intraday chart in to lower prices. Interesting. We'll see how these develop, but it seems like lower prices in the Euro and SPY are being accumulated and higher prices in the $USD are being distributed.