Thus that we have a falling global money supply is a pretty good indicator that without some major central bank action soon we really are going to have (another) a recession.
It should be noted that even if the December lows were broken, the long-term positive action of the on-balance volume (OBV) indicator would still keep my long-term trend analysis positive.
Given the security's positive price action during this period of rising bearish sentiment, this added put volume is seen as a positive indicator for the shares from a contrarian perspective.