Since TRIN values below 1 suggest that prices will go up, are you saying that since TRIN just dropped to 0.49, prices should go up in the near term? Looking at June 8-9, it does look like a low TRIN value can quickly skyrocket to the upside.
davidismyname
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@ProfitHarvest Now I think I get it. The diagonal yellow lines you added make it clear that TRIN is trending higher and higher reflecting increased chance of lower prices. Please let me know if I continue to get it wrong. :)
ProfitHarvest
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@davidismyname, Historically TRIN is rarely this volatile, that ascending volatility in a megaphone pattern is very scary.
Do also notice what happened to the PRICE at the top of an earlier, less volatile rising megaphone pattern. There's a decent chance this will be worse than the March crash based on the data here.
And don't miss the blue crash trend that I duplicated from March, if March crash does repeat to similar degree, it would lead us to either 2400 or possibly 2100 by July 3rd.
davidismyname
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@ProfitHarvest, thank you so much for the helpful explanation. Great insights!