These are intraday charts so they'll be fast moving, what is more important to the bigger picture (even intraday) is that we see migration as well from the 1 min to the 2 min to the 3 min, etc.
As mentioned, the DIA seems to have got a head start on the other averages, but this has also been a recent trend with the DIA showing better underlying trade relative to the other averages over the last week or two now.
DIA 1 min, note on the DIA chart and the others, there's no negative divergence, it's almost as if this was one of those surprise events like the 50 point ES plunge, but even that gave a intraday negative divergence before it happened, the point is, it was still on news that the market had no way to discount (A House of Rep. Vote among Republicans).
In any case, the 1 min DIA is in a positive divergence
The DIA 2 min also showed no sign of a negative divergence before the move, only the EUR/USD did which is what the market tracked.
We have a 2 min positive divergence here as well so we do have some migration in the DIA as it got started with the positive divergences first.
At 3 min the chart is almost perfectly in line with price so migration of the divergence hasn't come this far, meaning it either needs more time or the divergence just isn't that strong. If the later is the case, then these positives would be along the lines of consolidation moves, simply holding the market in this area for a consolidation for a time, but I suspect they are probably more than that, we just need the proof on the charts, then we may have some interesting trade set ups.
As I said, the IWM hasn't moved much, 3C is in line with price. There were some very minor divergences here, but I don't think they had anything to do with this move, they're too small.
QQQ, again no sign of a negative divergence before the move lower, again suggesting it came out of left field pretty quick, although the EUR/USD did show a neg. divergence as posted earlier.
QQQ 2 min is in line right now, no migration of the positive divergence from the 1 min chart, remember though the DIA got started earlier.
SPY 1 min also with only a slight negative before the drop, I doubt it's connected. There's a slight positive there currently.
The 2 min is in line so the positive isn't strong enough right now to migrate to longer timeframes.
I do think this chart is interesting as it popped up Monday and I commented on how strange it was at the time, TLT/Treasuries or the "Flight to safety" trade was showing a positive divegrence on the 1 min chart on Monday, this fits perfect with the move down this morning, kind of interesting.
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