$TRIN moved above 1.2 right before the close today…that signals
selling. I would expect to see more selling in the morning, should that
momentum continue. There is nothing hinting at a violent swing up, or
down on TRIN at the moment. Of course, that sort of thing changes
quickly with TRIN, but that’s the way it looks right now.
As for the
VIX-VXZ 5-15 ratio that you and I favor, it continues to flash an early
warning sell signal…as I say, it needs further confirmation.
Confirmation, in my system comes from the RSI on the Summation Index
(which I see you referenced in your post) and BPNYA-pSAR. So far,
neither of those two have confirmed, although the RSI on NYSI is closest
to confirming a sell. That’s my read of things for now.