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Some signs of positive divergence emerging-

Insufficient price action thus far to consider this pullback to have completely run its course, but we have seen some DIVERGENCE in Futures holding up above Monday’s lows while SPX cash was below.   Retests like we’ve seen typically do offer less selling pressure than the initial drop, and this time is no different, and fewer stocks hitting new 52-week lows as we saw back on Monday..  so this is at least a minor positive, but 240 min charts have not yet given Buy signals on this decline and still warrant one final pullback to new lows.   Yields have begun to escalate this morning and S&P Futures have made at least minor progress in turning higher.. but this is a drop in the bucket as to what’s happened on the downside..  and could easily be erased.. so pays not to be too aggressive here until more proof of S&P washing out to new lows..  and/or more credible evidence of stabilization.  US Dollar index seems to be at levels where this can hold and turn back lower.  FOR S&P.   2580 is very important as support, breaks of which should lead down to 2529 and a minor new low-   2617 is resistance… and PIVOT today at 2619.. so getting above this can allow for a minor bounce to potentially 2645..  But tough to make much of this pattern even on hourly charts as being all that bullish and a final pullback seems likely.  Gainers in early trading in MTO, NVDA, VRSN, AIG, AEE, UAA, GPS, MCO  while on downside-  VIAB, UPS, CHK, DISCA, CMG.