The TRIN backtest built by a third party on Trading View shows clearly the short signal since late May and yet to exit. Those looking to enter the market should wait for further downside consolidation. Besides the Summer seasonal effect kicking in. Looking to average buy from 280 level and accumulate further down. Same signal on SPX, US30, Nasdaq100.
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As expected, market came down lower than expected below 280 entry point but rebounded a bit yesterday. However the TRIN is still high so we wait for lower TRIN in the days ahead to play out before adding on long positions.