Lower highs on days the S&P 500 drops. This is exactly what we want to see if we are seeking to go long in the market. This in addition to volume decreasing is a classic display of a melt up. This is because investors are showcasing they are happy, hence complacent. Investor selling occurs when concerned about wealth preservation, or at the tail end/start of the year.
As always good luck trading friends!
As always good luck trading friends!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.