Here's an example of how the OBV has played out on SPY on the year. In April we got a consolidation pattern that broke out triggering a buy. Then the hard part is just holding and waiting for structure or a trend to get established. There's a couple ways to have drawn these lines where some would have given a few more buy and sell signals but I would say on this overall trend this would be the first time OBV would be hinting or warning of downside. Still early and not confirmation yet but so far it's leaning like this might be the first major sell signal aligning up with the price also breaking out of the channel.
