[SPX 4H] Price Trapped Under Support, TRIN to SELL Upchannel!
Wild day!
TRIN moved to almost exactly neutral but at the end of a megaphone structure while transitioning into a wide upchannel towards PANIC SELL this is very bearish.
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 bearish 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!
TRIN moved to almost exactly neutral but at the end of a megaphone structure while transitioning into a wide upchannel towards PANIC SELL this is very bearish.
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 bearish 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!
Data analyst with a passion for best fit lines B)
Let's see how long that holds!