Click for a larger image
A.) Prices have been in a range for about the last month. Also notice that within the last month we've seen lots of poor candles -- narrow ranges, long shadows etc.. What we're seeing is a weakening of the market.
B.) The EMA picture is still bullish -- the shorter EMAs are above the longer EMAs. However, notice that prices and the EMAs are still in a tight range with prices moving around the EMAs. Also note the 10 day EMAs is moving almost sideways and the upward trajectory of the 20 day EMA is lessening.
C.) Momentum is in a clear downward trajectory.
D.) But we're not seeing money flow out of the market. At least -- not yet.
