With March Nasdaq futures down about 20 overnight, you can see that traders are figuring that the news of Steve Jobs medical leave will be adding significant downward pressure on AAPL and thus the index.
Jane Wells just sent a Tweet about analysts thinking. (She works on air at CNBC…it’s a cable tv info-tainment network.)
I’ve seen AAPL down more almost $30 intraday. If AAPL is down $20-$30 tomorrow, this poses a great opportunity to employ Victor Sperandeo’s 2B Reversal trade intraday if there is substantial weakness. If you’re not long, read the tape and wait for the intraday reversal, and then go long.
If you’re long, and you can’t take the uncertainty, you first loss is your best loss.
(click for larger image)
The long trend line runs through $330, about $18 below Friday’s close of $348. Support looks to be around $320 and then at $300. I’ll see about updating this post with an intraday chart.
Tough to call tops on individual stocks. But looking at SP500, I agree see DeMark Sequential is in major top mode. I know it’s usually wrong. But it’s both on daily and weekly chart. Could be random coincidence but I’m looking around for omens as of today.
I think Sparandeo wrote one of best books but 2B is a mistake
just think a while
in bull market you have many tops, one by one, next one higher then previous as in bull market
just think what propability is that you find top that would not beat previous one (reversal point)
this is very stupid idea try to catch this special top , the last one after which bear market starts
this is just an advice,
you can do what you want but please look at any bull market chart and you will see what damage you would do to your capital when playing 2B on every middle-term top
Thanks for writing, but the 2B Reversal is one of the most reliable
methods/tools a trader can have in her/his arsenal. Victor will be going
over the rule, and many of the other rules he uses that ARE NOT in any of
his books at the Master Class we’re doing on February 4th.
https://martinkronicle.mystagingwebsite.com/live-master-class-with-trader-vic-victor-sperandeo/