Well if you consider the type of stock rvx is , i would argue that the super short term indicators would have less value than the longer term indicators. In this case the 50 and 200 day moving averages are more of medium term but still very effective to measure trend strength. We were still bullish on a technical basis in february 19 despite hitting lows in the 3’s. I remember when another poster growacet opined on this during the bullish breakout in the high 3s    around march this year. Rvx was blasting through the 50dma and it did trigger buying momentarily before fading.