Viewing Instructions:
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This EMA is an approximation of the weekly EMA and constructed using a 23 EMA for the red line, and a 50 EMA for the blue line. It works in any time frame -- weekly, daily, intra-day, ticks.

At the beginning of this daily chart, the red EMA is above the blue EMA and expanding as prices rise to the high. At "A", the red EMA flattens and turns down indicating the momentum of the market is changing to a trading range or a downtrend. At "B", the red line drops below the blue line indicating the trend is down. At "C", the EMA turns up indicating the momentum is changing from down to a sideways market or uptrend. At "D", the red line crossed above the blue line, remaining above it for only a few bars, then turned down to cross below the blue line indicating a trading cycle top. I call this a "fingertip", and it frequently occurs at trading cycle tops, and the mirror image occurs at trading cycle bottoms.

Following the crossover of the red EMA below the blue EMA, the difference between the two expands as the downtrend continues. At "F", the expansion stops indicating a sideways trading range or possible trend reversal.