One of the key and most often ignore aspects of divergence is established leadership. If an index is lagging the day's trend, it will naturally be diverging from other indices at every temporary turn. Trading on such divergences will usually produce losing trades, or at best winning scalps. Since we are looking for intraday swing signals, we first note which index is leading, and then watch it for divergence against the trend in which it led. Today was just such a day. It was the SMH that was leading the market down dramatically all morning. But when the ES contract finally followed suit to make a new intraday low, the SMH was already turning back up against the trend. Having led price down, it was now meaningful when it began leading it back up. Study all the forms of special divergence and intraday swing signals in the manual Pivots, Patterns and Self Recognition.