Wanted to take another angle.
Since the bounce, it has followed almost exactly to a megaphone pattern.
Those horizontal red and green lines are the indicator default, above red is SELL below green is BUY and in between in HOLD.
This is leaning very heavily into SELL and consistently holding PANIC SELL levels (>2).
We'll likely see another two red bars at least on Mon and Tues and see it flip back to panic sell before settling back under the red line around the green line while crashing down next few weeks.
The fact the TRIN is so damn volatility is terrifying for the market. Historically this level of volatility is rare.
Rough average of this megaphone is TRIN 1.17, which is almost exactly on the TRIN Sell line at 1.22.
The fact that we saw this same market Volume and TRIN pattern before March crash is scary.
You can't take TRIN at a single point, let's however take the last week together:
June 8th: .42
June 9th: 2.27
June 10th: 2
June 11th: 2.41
June 12th: .5
It may have just transitioned into a wide upchannel at the end of this megaphone pattern too, we'll have to see, but I wouldn't count on the .5 meaning shit.
If you wanna get real deep, market looks manipulated as fck to hold Buy between June 1st and June 8th. This indicator ALWAYS fluctuates a little back and forth, I can't find any example period of TRIN behaving like this in recent history (holding so steady at any point on the chart, let along Buy during an obvious bubble, for so long). And I'm betting that manipulation can't last/will cause a much harder crash than there otherwise would have been.
I wouldn't bet on any "ramp city" next week... or for the next few weeks B).