The market is trying to put together an intraday positive divergence, so far most of it is on the 1 min chart which typically means lateral consolidation, but there are a few 2 min charts (typically meaning an upside intraday bounce) that are struggling to put a positive together as well, it almost looks as if there's a real fight to get this divergence put together, it's not at all like the typical ones that are put together with little resistance, I can almost feel the tension in the back and forth between absorbing supply to put the divergence together and sellers who keep adding more supply to be absorbed.
I think once short term traders and market makers have invested in the divergence they will not want to lose this battle, they want their money back so I'd say the divergence forms, it may need a bit more time, but I think we do get intraday movement to the upside, If it fails here, this will be really ugly.
*The DOW post is almost finished.
DIA with a 1 min positive, 2 min is not there at all, but in some other averages it is a lot closer.
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