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I'm puzzled by TRIN.
Its calculated as
[(Advancing issues/declining issues) / (advancing volume/declining
volume)]
Generally a rising TRIN is seen as bearish - i.e. the volume in
declining issues is growing relative to that in advancing issues.
The problem I have is that if the volume ratio is constant and the
number of declining issues is rising, this will ALSO result in a rising
TRIN. But in this case, it would be a bullish indicator.
So without looking at the two ratios that make up TRIN individually,
(i.e. AD ratio and AD volume ratio) TRIN is worthless.
Am I missing anything here?
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