Citigroup again and is it not old news? Intc is not supposed to be a market mover anymore. Anyways, it was a weak buy and the bears had it again but what an amazing reversal. DIA has a turtle soup buy signal today. Every day the signal is stronger but not confirmed yet. All gurus are pointing to Friday as possible buy day. Today, it closed at about pivot. Tomorrow's numbers are 615, 609 and 605. All the market has to do tomorrow is to close at 615 at a minimum and then confirmed buy signal is out.
2c
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Hi Bernie,
It is all statistical analyses. I put in different values for the next day to see what indicators are turning. In the simplest case, all you have to do is to imagine that it tested S1 and closed at pivot today and if it closes above pivot tomorrow or even better at r1 then the trend is turning. In a down trend, it always closes below pivot or near s1 and vice versa in an up trend, it always closes above pivot or near r1.
2c
Unfortunately, there is no one single book or material that covers this proprietary trading system. I would recommend starting from trading by pivots and there is a lot of good information out there.
2c
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