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FWIW, the cash S&P 500 Index made a Trader Vic text book, 1, 2, 3 trend
reversal today (12/14).
1. The S&P 500 violated a trend line drawn from the low on 10/7 through the
low immediately preceding (11/18) the high on 11/27.
2. The index retested the high of 11/27 on 12/7.
3. Today the index closed below the low between the high on 11/27 and the
retest on 12/7.
Learning to spot these types of trend reversals has helped my trading a great
deal. The text book is "Trader Vic-Methods of a Wall Street Master" by Victor
Sperandeo with T. Sullivan Brown. The book is written for popular consumption
and is not overly sophisticated. It covers three general areas: trading,
economics and psychology. The discussion of trading is good but basic. For
me, this section was worth the 18.95 cover price. The discussion of economics
is okay but dated and opinionated. I didn't get much out of the discussion of
psychology, but, others might.
Dan
Pocatello, ID USA
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