Today the “Short-term trading Arms index” TRIN closed at 1-year low, at 0.34.

Previous record was 0.19 at June 15 2006. Thereafter the market was trending lower for 9 trading days, then made a small peak and then made another low at July 18th.

The extremely low readings of TRIN are bearish and I will risk to bet that this rally was bogus and the next week will be down or flat