Isnt it the oscillator that is the smoothed moving average? So the oscillator is negative because the V wave was a little higher on average in the past?
If the V wave goes down from here the oscilator will become a larger negative number if I am correct.
To me the oscilator turning negative means the market has topped, is likely to turn down, and while risk in absolute terms might be declining and the V wave may decrease in the future, it may be worthwhile to wait before investing new money or creating a new AIM account.
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