... MFI 3-Cycle has dropped to the floor and stayed for more than 1 session. When that 3-cycle indicator starts its up cycle, then you can attempt to argue "absorption" if the subsequent 3-cycles support the 21-cycle (monthly indicator) before it collapses (drops thru the 50 line)-- if indeed "they" (they being the "whales") continue to "square off" against what is "clearly" selling volume (ChiOsc reading of money flow out) IMHO; absent that...
the alternative desire would be for the seller(s) to back off and let it breath...#msg-76396562
Need a few more sessions to judge the larger context-- buying pressure ala the last set of momo groups (that meets my definition of absorption during a push-up liquidity spike)? Whales really buying up the float?
Or .... drift downwards (perhaps even a sideway track is foreseeable at this point) in the context of the continuing trend?
What'll break the trend? Read John's own words about building a fundamental base-- simply stated: fundamentally meaningful performance
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