The TRIN is currently sitting at 1.36, which is downright freaky.
Usually at the top of uptrends you will see TRIN in the 0.40 - 0.60 range. Readings higher than 1.2 are usually associated with trend bottoms. Although in such cases as local bottoms, I would typically look for closing TRIN over 1.7 to signal such a bottom is near.
When I say that the current 1.36 is "freaky", I would without looking have thought the TRIN, after all of these up days, would have been much lower.
Really high TRIN is interpreted by some as "panic selling", while the really low TRIN can be interpreted as "panic buying" by the bagholders.
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