Update

The $USD looks like it's slipping and the Yen has a short term / intraday positive divergence, that's good for the market, they were the opposite and that is what was sending the market lower, but that seems to be reversing at least intraday.

There are a lot of initial 1 and 2 min positive divergences in the averages. I don't want to chase those even if they are correct, in other words, even if there is a "V" reversal to the upside, I'm not chasing it, I'll wait for the next set up, but not chase a sub par one.

If the market puts in a little more of a reversal "process" rather than a "V" event, then I'll look at going in with a little more commitment to this "W" base actually firing off.