Context

These charts unfortunately aren't real time, I think about 30 mins delayed, sometimes 15 mins so I'm not sure if they will show the SPY Atb. move, but 3C definitely picked up on a small, but very fast and sharp divergence in all 3 SPY arbitrage model assets around the time of the move.

Otherwise, ES and the SPY Arb. don't look good.

 ES is reaching toward the wides of the day with a -8 point differential between the model and ES, in other words risk assets are not sharing ES's enthusiasm.

The SPY Arb will not go positive even with what I saw, the differential is too wide at the wides of the day as of 3:23 p.m.