DIA 1 min is showing one of the stronger intraday 1 min positive divergences as prices moved lower, it seems to have been showing short term, intraday accumulation which should be enough to at least turn us laterally for a bit, it will depend on whether the divergence strengthens and moves to the longer time frame charts.
The 2 min shows the rot I was talking about last night as the DIA started out yesterday is a positive position and then went to a negative divergence at the highs of the day and most of the afternoon, right now the current position is about in line or trend confirmation. We'll see if the 1 min can gather strength and bleed over to the longer 2 min chart, then we have a more serious possible intraday reversal.
The 3 min chart is a little worse than in line, it's a little leading negative right now, you can also see how it went from positive yesterday to negative through the entire afternoon.
The IWM 1 min is also, like the DIA showing a positive divergence this morning, you can see how bad the 3C action was for the IWM 1 min yesterday.
The 2 min shows the same afternoon negative action and this morning the 2 min chart is in line with price or trend confirmation.
The 3 min chart is in the same position.
The QQQ 1 min is also positive this a.m. with a leading positive 1 min divergence, again, we'll see if it can build on this very early start.
The 2 min chart is not seeing any of that positive activity, it is leading negative from yesterday's afternoon damage.
The 3 min chart saw damage yesterday, but overall is still in a leading positive position, this is why it is so important to see what these early 1, 2 and 3 min charts are going to do.
The SPY 1 min is leading positive, you can see how it has halted the downside, it will need to build on this divergence if it is to do more than just halt the downside.
The SPY 2 min is in line, that's about it.
The 3 min is in line after seeing some deep damage late yesterday.
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