In a way, Richard Arms, developer of the TRIN indicator and 45-year trading industry veteran, owes his first big break to technology.

It was, however, a very modest technological development — at least by todays standards. Arms was working as a broker at EF Hutton’s Albuquerque, N.M. branch in 1967 when the firm bought new quote machines that had screen displays. When Arms examined those machines, several statistics stood out: the number of stocks advancing and declining as well as the volume of advancing and declining stocks.