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Dan,
If I'm not mistaken, the cash S&Ps also made a Trader Vic "2B" formation, when
they barely took out the July highs on 11/27, then immediately retreated. Check
it out!
Regards,
Fred Bender
HARELSDB@xxxxxxx wrote:
> 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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