Above you will see the Madrid Moving Average Ribbon utilized.
The first (lag-confirmed) downtrend warning signal was strong, but took time to confirm. The second was moderate and also took time to confirm. The third was what led to our actual short-term reversal. This 3rd warning signal was moderate, but confirmed shortly after occurring. This illustrates a material drop off in buyside support, indicating that investors are wary of a strong correction.
I believe this dramatic drop off in volume and categorical short-term trend reversal will continue deeper. The warnings are (and were) all there, including the lack of any material higher highs on the daily chart.
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The first (lag-confirmed) downtrend warning signal was strong, but took time to confirm. The second was moderate and also took time to confirm. The third was what led to our actual short-term reversal. This 3rd warning signal was moderate, but confirmed shortly after occurring. This illustrates a material drop off in buyside support, indicating that investors are wary of a strong correction.
I believe this dramatic drop off in volume and categorical short-term trend reversal will continue deeper. The warnings are (and were) all there, including the lack of any material higher highs on the daily chart.
Please like and follow for more!