On the weekly timeframe, the True Strength Index (TSI) has produced a bearish crossover, with the TSI line moving below its signal line and both now trending lower. Importantly, the indicator has broken beneath the zero line, confirming a transition from positive to negative momentum on a longer-term basis.

This shift reflects deterioration in underlying trend strength following a prolonged advance. Historically, weekly TSI zero-line breaks after extended bullish runs tend to precede multi-week corrective phases rather than brief pullbacks. With momentum accelerating to the downside and no bullish divergence present, the current configuration supports a bearish bias, making put positioning favorable if price continues to confirm with lower highs and sustained weakness. This information tells us that buying puts could be profitable.

I wish you the very best,

Wendy