|
PureBytes Links
Trading Reference Links
|
One of the more ominous signs for this market is the behavior of the
Trin.........
Most lows are signaled with at least 1 day and preferably more of Trin
readings above
150......ie:The June low had 2 Trin readings over 165 within 3 days.........
Our highest Trin reading since the decline began has been
135.................
This implies that a lot of money is going into a few advancing stocks.......
This also implies that we will quickly become overbought on any rally UNLESS
we can get some readings into the 150-200 level......
I don't believe any sustainable bottom will occur without high Trin
readings.....ie:a 5 day
total of the Trin should reach the 550-600 level.
Let's watch and see.........
Tom Stein
comfut@xxxxxxx
|