4 in a row with no relief!

In my 10+ years of trading, it has never been tougher than trading this week. Both banks and oil led us down. Banks kept us down while oil looks like it’s trying to recover. The only thing I traded today was ES, the S&P emini. Looking over the trades, not one was more than 5 minutes and several were under 120 seconds in duration! Oh my! Sure it was a down day, but all my trades were long.

Check this out….you would think we would go a lot lower with a VIX of 349!!

Sure it’s a bad tick, but I thought I’d grab a picture of it just to remember.

The TRIN again closed high at 2.99. Remember what I said a couple days ago when the TRIN closed at 3.82…The Arms Index says: TRIN close over 2.0 results in bounce next day 9 times out of 10. No bounce? Market in trouble…..and we got NO bounce…and yes we’re in trouble.

So we’re down 4 days in a row. A 3 or 4% correction is no big whoop, but that is assuming tomorrow the markets get back on track and show some bullishness. If not, the bear is back and we may be on our way to some new lows.