An instrument can be be both trending and non trending, depending what timescale one looks at. An instrument can also be in an up trend on one timescale and a down trend on another.

Quite recently I commented that on the FTSE 100 weekly charts the 4 - 10 - 40 moving average combination was still in uptrend mode, although at that point in time some shorter timescales were registering down trends. The action over the last couple of weeks has now knocked the 4 week moving average velow the 10 week, so following the methodology of my second book, that moves the index into sideways mode.

Some indicators however on the daily charts are now showing the index in down trend mode. The 14 day ADX has hit 25 and is rising, with DI- above DI+. The 2% Kagi chart is in Yin mode. The 13-26-52 moving average combination is still in sideways action, but another week of falls would put it into down trend mode.