Update

The Euro is taking the ECB rebuttal of an un-sourced rumor worse than the market at this point, remember the Euro and the market have a pretty tight correlation and any move higher in the dollar hurts the market.

Based on the 3C charts of the Euro last night, I said my gut feeling was we gap higher today, I also said the only question was "when will the move be faded?", early or later in the day? It seems it is being faded or set up for that right now as the currencies that support the market are not helping out.

 The 1, 2 and this 3 min chart (that's pretty fast migration of a negative divergence) are all leading negative on the ECB's comments that the "Rumor" was actually nothing more than run of the mill-PEOPLE-THINK ABOUT WHERE THE SPY IS, WHAT ORDERS WOULD BE TRIGGERED, THE TIMING OF THESE NON-SENSICAL RUMORS! Do you really think this is all just coincidence?

The proxy for the $USD intraday was already in a positive position, it is even more positive in a leading position after the ECB comment.