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

It may just be a matter of time before a confirmation from the S&P.

Downturn Signal Received Real Money Pro($)

There is little reason to believe we will not go lower from here.
The VIX level indicates a short opportunity is just around the corner.
If you went long last week, take profits, but don't go short just yet.
If you want to play the advance, use great caution.
While a rally may be imminent, the longer-term picture is troubling.
This is a lateral market showing signs of upcoming further weakness.
Expect a resumption of the slide as the market charts its course.
Use rallies as a selling opportunity.
Advancing markets are supposed to climb a wall of worry, but the wall is nonexistent. 

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