Friday’s CrowdStrike software disaster has been described as “the largest IT outage in history,” and it brought home just how vulnerable the planet is to itty-bitty coding errors. We were busy publishing the DecisionPoint ALERT Weekly Wrap, so I didn’t have a chance to look at the chart until this morning, but what a surprise it was when I saw the sharp OBV negative divergence set up following the high volume on June 21. The On-Balance Volume (OBV) indicator has been around since the 1960s, but my impression is that it is not widely used. This is probably because the inventor, the late Joe Granville, was such bombastic figure. Nevertheless, I cut my teeth on OBV in the 1980s and have found that OBV divergences are extremely helpful. The problem with OBV is that it is kind of like watching grass grow — divergences are not frequent occurrences. OBV is…
