TRIN tells me its different this time.

Look at the purple line in the chart.  It is the 30 day moving average of the TRIN (the SnP is in the bottom chart.)  The TRIN ema moved between .91 and 1.33 the entire bull move from 3/09 to the recent top in April.  It has now broken out massively above the channel (bearish).  Since the trin measures market internals this tells me there is massive selling going on and that this market dip is way different from all those small corrections we experienced last year.  This is the start of something big... to the downside.  Note.. the higher the TRIN, the more bearish.  Less than 1.00 is bullish.