Well, here are my records on the TRIN today.
After I posted to ask you if it helped I checked. As usual, the TRIN, for a short-term trader was bogus.
At 9:35, it was the 32 you referred to. (All times Eastern Standard).
At 9:55, it was 66
The high was at 11:35 at 106.
I left at 12:17, when it was less than that.
This is a short-term indicator? For Who? The Paralysis by Analysis Crowd?
It's all a matter of perspective to me, Fred. This is supposed to be a short-term indicator. This TRIN was worthless for a short-term trader today. By 10, the TRIN was normal and never got far out of whack all day. Yet the market fell like a rock. Now, if you want to say it's a nice indicator for a week from now that's okay. But that's not what is was supposed to do, unless of course people think short-term indicators are for the short time frame of a week or so.
It may work for you guys who trade on a longer time frame. But at any given moment.....which is what it was designed for, in the days when data was not as quickly crunched as it is now.......it's ineffective. If you did not get a profitable trade out of it on a day like today, you are not going to ever get one in my opinion. |
