First, a recap of yesterday's manipulation or front running the market on news that wasn't out yet...
Yesterday the Euro and the market were showing negative divergence, in retrospect, they knew something we didn't, the Egan-Jones downgrade of Spain later in the afternoon, but the divergence is clear much earlier-this is the typical playing field we must compete on where smart money is trading on what would otherwise be considered insider information as it wasn't made public at the time they were acting on it, not to impugn Egan-Jones, but someone knew.
The market as represented by the SPY here saw the same action before it collapsed on the news.
As for this a.m.
1 min DIS doesn't look horrible, but there's a small negative divergence that could lead to or did already lead to a consolidation (or pullback).
The 2 min chart is confirming price so the divergence isn't very big.
The 3 min chart is also in line confirming price.
The IWM 1 min is in a leading positive divergence above all of yesterday's action, last night I wondered if the late day sell-off was accumulated, it seems it was, if for nothing else a quick move up overnight and this a.m. off the lows.
IWM 3 min is not seeing that positive divergence yet, it may still, but for now it is confirming price.
QQQ 1 min is also seeing a leading positive divergence this a.m.
Like the IWM 3 min, the QQQ is in confirmation of price on the 3 min, we may still see that 1 min divergence build and bleed through other longer timeframes.
SPY 1 min is in line or confirming price action.
The same for the two min.
My sentiment monitor, our member Sam, has told me the StockTwit universe is full of traders, mostly bears that are becoming exasperated with this market. This would make sense if you look at the flow of funds data from US Equity funds over the last year or so, I believe it stands at something like 48 of 52 weeks have seen fund outflows.
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