TRIN moved to almost exactly neutral but at the end of a megaphone structure while transitioning into a wide towards PANIC SELL this is very .
At this point, if it flips back above 2 (assuming the structures hold, this is increasingly likely with each passing day) the market is likely toast and crash/panic selloff/programmatic selloff will ensue.
Average of entire megaphone is right on TRIN SELL line. Also very here.
You know, I probably sound like a PERMABEAR on here but there's still just basically no data supporting any kind of Bull case. I've sought it out every day for weeks now to no avail.
There are a COUPLE fair Bull cases out there (that make a lot of aggressive assumptions about the market) but they look so damn weak when weighed against the reams of data supporting a market crash this month.
I'm more like a Lion ... just waiting patiently for my opportunity to rush in for the KILL!
Let's see how long that holds!
I saw large volume offloading off the VWAP and low vol pumps back up most the day. It is a gut feeling, but all my indicators pointed to institutional selloff, but not panic. Big shift from the past, but I think the bigger players don't see the upside as worth the risk.
Yesterday was the remaining retail FOMO of people who were cash gang getting in under 3k. It was expected and today we had decent retail news and no bombshells in Congress, so their was a steady but trend, but I didn't see anything that tells me the bull is happy and looking to charge.
Gap up and dropping under 200 SMA again tells the tell
That big spike was Big Money cashing out the farm the day after it become clear China wouldn't be able to stop the spread of the coronavirus like it did with SARS. Everyone knew it was coming except the little guy.
They've been gradually cashing out since, all aftermarket/market-open so they crush the best price every time ahead of Retail of course.
I'll go long when all that cash starts flooding back into the system B).
Anything could trigger a selloff, everything has to go exactly perfect for it to keep climbing lol.
And yes they've been very manipulative around these lines...