ARMS TRIN at greatest divergence since 1956

Yet another distortion in this Fed-controlled market has been captured by SentimentTrader who has noticed that the Arms (TRIN) index is at its most extreme deviation since 1956. As a reminder the Arms index is an indicator of market breadth which essentially tracks lemming like momentum-chasing behavior with respect to volume. Sentiment Trader's commentary: "While influenced by some of the high-volume, low-priced stocks such as Citigroup, the Arms Index is showing an abnormal level of Up Volume versus Up Issues.  The chart we show on the site uses bands around a six-month average to define extremes, and right now the 10-day average is more than 35% away from that average.  With the S&P at a 52-week high, this is the most-extreme deviation in the Arms Index since 1956." For those who foolishly believe that technical indicators "indicate" anything anymore in a market in which there is just one player left, may want to be concerned - all the other times such an extreme deviation has occurred, any short-term gains were erased during the months ahead.  Those dates were 4/5/43, 2/5/45, 6/20/45, 5/14/48, 4/19/50 and 3/14/56.