SPY price gapped up to pivot point (5-min), turned around (put in a "First Cross" sell, red vertical line) and filled the gap. The retracement from that point brought price to the 20-EMA (inverse holy grail setup) and put in new lows, all the while putting in a bullish momentum divergence in the 3/10 oscillator. The concept with a momentum divergence is to buy the price lows of a higher low (between 9 & 9:30 PST), perhaps once price reclaimed the 20-EMA.
A first cross long entry coincided with a strong bar above the 50-EMA (green vertical line).
Looks a little cleaner on this 5-min chart with NYSE TICK in subgraph1.
The 15-min chart highlights a couple of things from today; momentum divergence, price holding on the the lower regression channel, two First Cross entries (red&green vertical lines), and the 20- & 50-EMA nearing yet another crossover. Price continues to flip-flop above and below the $84.33 level. 
The Dollar faltered after Monday's advance.
FXI looks like it's setting up a flag retracement. The swing lows and price look to be setting up a "Slingshot" setup (lower low in momentum coinciding with higher low in price). 
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