Monday Monday, can’t trust that day. News was slow in the US but the news from Europe started the downward trend early and was reinforced with the Italy downgrade later in the day. The dollar went up, everything else went down…except for bonds of course. Advance/Decline volume was way down at -9:1
Dick Arms, the creator of The Arms Index, also known as TRIN, says: a TRIN close over 2.0 results in bounce next day 9 times out of 10. No bounce? Market in trouble. The TRIN closed at 2.23 today. We’ll see how this works out on Tuesday.
Signing off before the thunderstorm knocks me out!