When a respectful TL is hit with an exceptionally high volume
, as in the case of 11 February 2016, and the market is rejected to break the TL, but still the overall picture, together with the price action following the rejection, points across the TL, that high-volume day is what I call a "not-this-time peak." It indicates a motivation towards breaking the TL, but not that time. Here, too, everything shows downside action, but the not-this-time peak didn't allow us to go below the LMLH. So a previous upper level is to be revisited to gain the strength needed to surpass the boundary.
There is a similarity among the USD pairs, which reflects the weakness in the US stock markets. SPX
and the leading stocks such as AAPL
are all going down. A happy decade for the US bears might be awaiting before us.