Notice the progressive failures….
Failure at the 50MA
Failure at the 200MA
Failure at the 400MA
Each drop is about 50 points more or less
The idea behind this chart came from Greg Collins at Minyanville.
There is a lot of great analysis and discussion at Minyanville and some of you may wish to check it out.
Now, when will this chart produce a “Swan Dive”?
It sure looks like it wants to.