A down trend within an up trend?
Medium term, Institutional activity is showing an up trend in Accumulation.
Take a look at the 1 through 5 labels on today's chart. What can you observe about the pattern of the labels?
If you answered that they are in an up trend, you are correct. (An up trend is defined as a condition where higher/highs and higher/lows are made.)
Now, let's look at the shorter term... the period in betweenlabels 4 and 5. What can you observe about what is happening here?
If you answered that "Institutions are in Accumulation, BUT their level Accumulation is declining", you would be correctagain.
So, even though the medium term trend is up, the shorter term is showing a duress condition for the market because Institutions are decreasing their Accumulation levels.