Photoshop - live composite layer

I can’t find any information as to whether this is possible.

I have two layers in Photoshop - and have set the mixing type to “difference” (so I can see the difference between the layers).

I would like to create a new layer that shows the output of this so I can apply some additional filters, adjustments etc.

I can do this no problem by selecting the two mixing layers and using CTRL/ALT/SHIFT-E.

The problem is, this new layer is basically a snapshot of the underlying layers as they were when I did the keypress.

What I want to be able to do is move one of the underlying layers around and have the composite layer automatically update to reflect the change in relative position of the mixing layers.

Is this possible?