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

The surprising advance is approaching levels that have been difficult for the indices.
Yesterday's lack of follow-through was particularly disappointing.
A key chart indicates that when either fear or greed gets the upper hand, the next move will be big.
Previous high points over the last year have been followed by sharp declines; another may be ahead.
Tuesday's rally may be running out of steam, so be ready to short if support is decisively broken.
Some rallying off the support is justified, but any upside probably is limited.
The implication of the charts is that we eventually will go considerably lower.
The markets still look ready to go lower despite Monday's rally.
Movement has become difficult after weeks of advances, which suggests a downturn may be near.
Low volume, small trading ranges and small differences between the opening and close are the norm.

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