Another failure of the OBV to move above its WMA would add further weight to the bearish divergence.

FORBES: Big Banks Hitting a Brick Wall

The daily OBV has moved back above its WMA but is still below the bearish divergence resistance at line c.

FORBES: Gold: Another Technical & Seasonal Low?

As discussed earlier, the weekly RSI formed a second bearish divergence and just barely moved above its weighted moving average.

FORBES: Accurately Analyzing RSI Divergences

The OBV moved through its WMA in early August, and broke through the bearish divergence resistance at the end of the month.

FORBES: Crude Oil: Next Stop $102 or $92?

This second bearish divergence signaled that the market was internally weak.

FORBES: One Indicator Stock Traders Must Follow

The OBV had peaked in early March and then formed a bearish divergence, line a, as it was forming lower highs while SPY was forming higher highs.

FORBES: A Candle Trigger for Market Tops

Generally, a bearish momentum divergence is a red flag warning signal, which often presages a pullback or correction.

FORBES: Home Builders Could Become Heartbreakers Again