The reversal in early May dropped the relative performance, or RS, below support at line b.
The typical pitch of a vuvuzela is said to be B flat below middle C.
It dropped down below its 2003 Series B price per share within the first four months of trading, seven years later.
The support from the early 2011 highs is at 1373, line a, while it would take a close below 1266 (line b) to confirm a weekly downtrend.
Usually the potential for change is building for a long time, but then there is some environmental shift (visually depicted as B, below.) The old is made obsolete while the new grows aggressively.
The SPDR Diamond Trust ( DIA) has dropped further below its support at line b.
There is monthly support now at 8, 571, and the monthly uptrend (line b) is far below that, at 7, 538.
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Chart Analysis : The iShares MSCI Brazil Index Fund ( EWZ) dropped below trend line support, line b, on Thursday, although it did rebound on Friday.
Chart Analysis : The daily chart of the Spyder Trust ( SPY) shows that it gapped below support on Thursday, line b, completing the flag formation.
Five days later, SPY closed on support (line b) and then closed below it the following day.
Below this is the familiar BlackBerry four-B logo and to its right is the rubber drain.
The OBV has formed a slight negative divergence, line b, and has dropped back below its weighted moving average.
The OBV broke its uptrend, line b, in June and dropped below its WMA in July 2011 (line 2).
The RS line has now reached its uptrend (line b), and is well below its WMA. The daily RS analysis can turn around in just a few weeks.
The first is a decline from the high ( wave a ) that was followed by a rally (wave b ) that typically will stop below the 61.8% retracement resistance of wave a.
The daily relative performance line did diverge at the September highs (line b), and is still well below its downtrend.
The weekly OBV did turn up last week, and while it is below its WMA, it has good support (line b).
Still, the OBV looks ready to drop back below its WMA, and a break of support (line b) would be more negative.
Two weeks after the LCD, the OBV dropped below its WMA and the next week it also broke its uptrend, line b.
The sharp drop in the summer of 2011 took the ratio below its EMA as it developed a five-month trading range, line b.
The RS dropped below its weighted moving average last week and has now broken its uptrend, line b.
Below is a three month price history chart comparing the stock performance of RDS.B, versus ATW and SD.
The relative performance dropped below its WMA a week after PM made its highs, and the uptrend (line b) was also broken.
The next day (line 3) BMRN was down again and the RSI3 dropped below its uptrend, line c, and its WMA. The RSI3 formed lower highs, line b, which was a negative divergence.
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