Defibrillating Markets

Working too hard
Can give you a
Heart attack ack ack ack ack
--Billy Joel

Note contrast in volatility in uptrends vs downtrends. Intra-day range narrows as prices go higher, lending an air of solitude to bullish trends.

When the trend reverses, however, intra-day price movement expands to multiples of the uptrend range. Check out the size of the red candles vs the white candles.

As markets pulled out of their late December lows, observe the gradual decline in volatility as the uptrend gained traction.

Reminds me of a defibrillating heart on the verge of a heart attack that pulls back from the brink and returns to normal beating patterns.