If this loss for today is sustained into the close, I will be happy of course.
This could push "RAIM" (Until a better acronym is established)into another Bear market scalp.
I subscribed to the Don Hays newsletter for a couple years, the 10 day ARMS Index (10DMA of TRIN) was one of his favorite indicators.
He would periodically point out that after the 10DMA achieved the level > 1.5, then an intermediate bottom would form within 20 days.
He would point out that this was a "perfect" indicator because it worked every time from 1960 to 2001. Then in 2002 it failed, leaving all its devotees hanging at least twice.
It is possible that this formerly perfect indicator will begin to "work" again now that it is no longer in vogue. It certainly feels as if we're heading toward an Intermediate bottom.
Edit: Thursday close posted a 1.55 on the 10DMA of TRIN
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