It has been rare to see the TRIN close above 3.0 on a Weekly basis since 1999 which occurred last week (point A). The previous three times the TRIN closed above 3.0 on a Weekly basis this was followed by an oversold bounce lasting anywhere from 2 to 6 weeks. The last time the TRIN closed above 3.0 on a Weeky basis prior to last week was for the week ending on 8/6/04[...]
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[Source: The Money Blogs]
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