Somehow you are I are speaking to each other and having 2 different conversations.
What I said was, yesterday the futures opened lower and the TRIN was below 50. Not above 100 as you might expect. Yesterday the futures opened 4 points lower, the TRIN opened at 0.95, ticked to 1.07, then went directly to 0.47 by 9:45 ET.
When I am speaking of a range; since February 25th, the high reading on TRIN was 1.49, the low 0.47 and 80% of the time it was between 0.75 and 1.00
So for the past week, including yesterday, having a TRIN at 0.80 is normal.
2 weeks ago, it was normal to have a TRIN just above 1.00, the "normal", expected range drifts.
I never said that TRIN should be used for any overall picture. |
