Arms is a renowned stock market technician. He invented the Arms Index (often referred to as the TRIN), which has become a mainstay of market analysis, appearing daily in The Wall Street Journal and weekly in Barron's. Arms also developed the widely used technical method Equivolume Charting.Expand

Since 1996, Arms has been publishing the Arms Advisory newsletter for money managers and financial institutions. He also has authored five books, including Stop and Make Money: How to Profit in the Stock Market Using Volume and Stop Orders, Profits in Volume and Trading Without Fear, and has been honored with the Market Technicians' Award for Lifetime Contribution to Technical Analysis. Earlier in his career, he was a retail broker for 15 years at E.F. Hutton and, later, managed an institutional portfolio with assets of about $150 million.Collapse

Then again, the market has looked ready to drop for a month yet has just kept creeping higher.
The moving averages also are warning that we in the midst of a wide and foreboding top.
Volatility continues to be overly complacent and should give investors cause for concern.
The chart readings we now are seeing have tended to precede longer-lasting and deeper declines.
The market action looks very much like it did before the drops that occurred in 2000 and 2008.
The strong move in the Nasdaq-100 indicates they're favoring more speculative stocks.
The technical signals show an extremely overbought situation even with the recent weakness.
They are trying to improve performance by reducing quality, and that's not good.
The market appears to be at very overbought levels as more negative signs emerge on the charts.

Don't Buy on This Index Dip Real Money Pro($)

Overbought readings and low volatility argue against jumping in at this point.

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The dollar index ended up holding support nicely into both the time and price parameters discussed last ...

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