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

Traders should be looking for shorting opportunities.
Topping action like this demands caution.

Not a Time To Be a Buyer Real Money Pro($)

The Arms Index is at its most overbought level in more than a year.

A Pullback Appears Imminent Real Money Pro($)

Previous trips to this level have failed to break higher.

Watch Out for a Pullback Real Money Pro($)

Resistance level reached, but there may be opportunity in oil.

Look for a Rally Real Money Pro($)

But it may be too small to play.

Breaking a Market Standstill Real Money Pro($)

But when it does move, it is likely to go to the downside.
Wait for a sign of weakness before going short.
While it's early to go short, gains are becoming more difficult.
The unusual action lately reinforces that idea.

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