Loading ...Summary
TRIN, aka Arms Index, has departed radically from historical performance.
One interpretation is that stocks are preparing for a larger degree secular bear turn and recent action has been merely preparatory.
Another possible interpretation is that the mechanics of the stock market have been broken by Federal Reserve intervention.
Many other formerly reliable indicators are similarly performing anomalously during and since the 2020 crash.
One way or the other, something is broken under the hood and technical indicators are reflecting that shift.