Since there are no positive divergences on even the fastest 1 min charts, I'd suspect the move up was a knee jerk reaction to news likely out of Europe. There are slight negative divergences at the highs in all of the major averages, some reach to a 3-5 min chart, but for the most part it looks like an intraday consolidation/pullback, the bounce environment is still in place and I would still expect more upside.
DIA 1 min
IWM 1 min
QQQ 1 min
SPY 1 min
None of the above have a positive divergence before the move up suggesting it was a knee jerk reaction to news in what was already a favorable environment for an upside move, it may have gone a bit too far too fast, thus the small negative divergences in place to likely consolidate the gains.
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