I don’t see bullish (positive) divergence on the daily charts of SPY or QQQ, if that is what you are referring to. To have positive divergence, SPY and QQQ would have to have made a lower low vs. the previous reaction low while the MACD made a higher low from those same two points.

If you tell me the dates of the two points (roughly) that appears to have the divergences I’ll post a chart to illustrate what I am referring to.

No, a break below the trendlines, ideally an impulsive break and solid 60-minute candlestick close below would be the sell signal that I’m looking for. As long as /ES & /NQ remain above those uptrend lines, the near-term uptrend off Thursday’s lows remains intact & healthy.

/NQ & /ES have both moved below those 60-minute uptrend lines but by a very small margin & more importantly, the move below was very far from impulsive. As such, those aren’t the types of sell signals/breakdowns that you want to see as impulsive breakdowns & a solid red close (after a 60-min candlestick is finalized) would greatly reduce the risk that the breakdowns will prove to be fake-downs or false breakdowns/whipsaw signals, etc.

Looks to me that they will park /ES & /NQ either just on, slightly below or slightly above those trendlines to keep the QQQ & SPY traders guessing with any clear breakdowns likely to occur in the overnight trading session.

I think you mean below

“break above this uptrend line”