The TRIN closed at 0.50 today and the 5 and 10 MAs of the TRIN remain well below 1.0 as they have been for some time. This is an excellent indication that strong selling event is imminent. The PPO of the equity only put/call ratio ($CPCE) hit 19.50 today - only a fraction below the level of 20 that has been associated with market tops for the last 3 years.
As has been the case since the November top, it remains to be seen how far the selloff will go and which elliott wave pattern will win out.
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