Open flat, another boring day, I guess.
Institutional Buying and Selling Trending from www.stocktiming.com. My view of the chart is that the distribution is at historical low while accumulation has negative divergence, but overall, the institution is still in accumulation mode.
market is down now. Will it bounce back?
I have no idea. SPY is on an important support now. TRIN actually is not so bearish today.
10:25am, Here’s a text book target for Symmetrical Triangle. The rebound so far now looks like a consolidation, so still could breakdown…
11:23am, just a reminder, it’s not a broad based selling, financials are strong therefore TRIN is very low now (0.47). So bears, don’t get too excited.