Climactic TRIN Reading
On a day with plenty of selling, you will often see a downward spike in the TRIN reading. Readings of over 2.0 are frequently followed by a price rebound the following day.
Indeed, many of these high readings actually precede price bottoms. It is most likely too early to say whether we will get more than just a snapback out of this, especially when you note that the 10-DMA has not reached the same oversold readings that accompanied previous major market bottoms.
Happy Charting,
Erin
