Right around 2 pm on options expiration, the pin is removed and the market free to move, however price movement and 3C movement are often at odds and very often however 3C ends Friday, we see that divergence pick up where it left off on Monday, even over 3 day weekends.
I'm seeing something strange, around the 3 and one 5 min chart, there's a very sharp, fast building positive divegrence in 3 of the 4 averages, however intraday Index futures look horrible. Perhaps an EOD pullback with a building positive divergence? I'm not sure and need to look at other assets, Leading Indicators, watchlists. I'll get the charts out next and then I'll be out of radio contact for a little bit until I can make some sense of these contradictory signals.
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