Can you say DANGEROUS?

RUT TRIN never lies... can mark TOPS and BOTTOMS. Which do you think this is?

Honestly, I don't want to see what is going to happen if this is a top. Makes me sad, I'd like to see something like a huge gap on news event Monday morning to at least carry us to the EOM... but this just doesn't look good to me.

If we go south, prepare for fast and dirty.

Let me make one counterpoint. It is not inconceivable that this could be some sort of bottom into the EOM. I don't feel that it is the strongest argument at this point, but don't entirely discount it. The RUT TRIN is saying "a directional move is about to happen" interpreting it from these level is hard. If we had a high reading first day up about a 3 week sell -- I'd say bottom. If we were in a 2 month uptrend and got high readings, I'd say top. At this level it is more complex, and it is better to miss the first move and then try to trend trade it if you can. That way is much safer. I want to point out that reading like this support the work that Dev was talking about earlier. I certainly agree that we need a strong initiation up move to have any chance long here. In the absence of that -- stay away from this thing on the long side.

Big rally on high TRIN is always bearish. What's the RUT TRIN on 6/25/2010 and 6/24/2011? These were the days of the annual Russell Index rebalancing. I'm curious whether that might've had something to do with it.