TRIN Oscillator and Emini Direction
The TRIN Oscillator turned down on Monday. There is a huge amount of speculation right now about what the Fed will do with rates and where the market is headed. At the end of last week the Emini showed consolidation on all time frames I follow (from 5 minutes to 135 minutes and daily charts). This means we're winding up for a big move - but in which direction?
TRIN Oscillator Turns Down
The chart above shows my trusty Better TRIN Oscillator. On Monday this indicator turned down, giving 3 lower turns in a row. Not exactly a divergence pattern, but just shows weakness in the market. You can read more about the TRIN Oscillator here.
Remember, don't rely on a single indicator to trade - especially an oscillator in a strongly trending market. But combine non-correlated indicators to anticipate market turning points.
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