ETF Range Projections & A Quote to Start the Day

Ability is nothing without opportunity.

- Napoleon Bonaparte

For more detailed economic data click “Today’s Calendar” in the navigation bar to the left.  

Shanghai plummets taking much of Asia with it, Europe is flat to end the week: Nikkei 225 -1.39%, Hang Seng -1.93%, Shanghai -5.16%, DAX -0.16%, and the FTSE -0.24%

At about 7:05AM ET, ahead of consumer sentiment, the futures are pointing to a lower opening to finish the week: Dow -59, S&P -7, NAZ -12, Oil -$1.82 and Gold -$18.30

Trade Safe and

Have a Great Day!

Was that a Trader Vic 2B Sell?

In Trader Vic – Mehods of a Wall Street Master, Victor Sperandeo discusses his 2B rule for tops and bottoms.

In an uptrend, if a higher high is made but fails to carry through, and then prices drop below the previous high, then the trend is apt to reverse.  The converse is true for downtrends.  This method applies in any of the three trends; short-term, intermediate term, or long-term.

In the stock market, after the new high is made, the failure to carry forward usually occurs on low to normal volume, and the confirmation of reversal occurs on higher volume.  When trading the 2B criterion, it is essential that you admit defeat quickly if the trade moves against you.

The S&P in 3 time frames:

Weeklies:

Finally Monthly:

So what do you think? A Trader Vic 2B Sell?