Tuesday, September 4, 2007

TRINQ buy signal

I wanted to post the charts relevant to the TRIN discussion we've been having on the previous post. Here I've posted the last three times the TRINQ closed below .50 three consecutive days in a row. These levels normally signal extreme buying frenzy and at least a short term top. However when combined with multiple consecutive closes below .50 and the market emerging out of an extreme oversold level it has historically signaled the beginning of powerful intermediate rallies.