Those that view the message of the market on daily basis are likely confused by trading noise. While trading noise contributes to the long-term trends, it does not define them. Human behavior tries to explain trading noise as a meaningful trend. This confuses the majority which, in turn, contributes to their role as bagholders of trend transitions.
United States Natural Gas (NYSE:UNG)
Natural gas's alignment (Down, Down, Down) is triple down. It's been triple down for 9 days. NG's primary trend has been down for 3 months. The bears control the trend unless there's bullish energy build.
NG's energy profile (WA,DI,DI2) is 9%, 10%, 32%. This combination defines a quiet market that's dissipated some of the bullish energy build. DI2 fell from last week, so we know some of the bullish energy build has been released. We also know why - the retail investors aggressively chased the rally. The weak hands are too long. It's likely the reason why price is falling this week. Triple Down places the trade into Align ALGN Energy rather than Energy Build phase.
New lows in the PubIndex says the selling is coming from the public (retail traders) rather than professionals. This should have been expected.