The 1hr, 2hr , and 4hr MFI/RSI divergence is crazy high, and you can see this divergence all among DJI, SPX 1.19% and IXIC. Plus, the dip and jump back up is quite fishy. If the market close as-is (2723) or lower, I would expect spx 1.19% drop to 2650, nasdaq drop to 7060 in a week or (at maximum) two. If the RSI/MFI divergence disappears, then I am wrong and will exit my put position (just entered spy 1.23% 255 sept 28 puts)
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Same divergence also appears on IWM...and worse.
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the absolute value of 4hr MFI-RSI larger than 15 is considered as actionable divergence
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e.g. on the tick on May 22nd 8:30, that's an actionable bearish divergence