SPY replay

Here is a 5-min chart of the SPY with TICK.

Here is a key for the above charts so you know what the lines and dots represent:

The numbers are there to highlight the following:

1). An attempted break from the opening swing on very marginal TICK.

2). Higher TICK high, lower price highs (reverse div.).

3). A test of the overnight lows which occurs on a positive TICK divergence.

4). Higher TICK highs on the re-test of previous selling point, but notice how price stabilizes as TICK pulls back to the zero-line.

5).  Higher price highs (to a 25% projection of the overnight range) on lower TICK highs (negative divergence).