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The doji on tuesday may well be signalling a short term top.
Also suggested by the T structures from the february low and from T volume oscillator in January.
Interestingly the T volume oscillator dropped down to zero yesterday, hinting at things to come.
Arms reading was 2.00 - high enough to signal a short term recovery, perhaps after any further weakness today. A bear trap?
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The first light really went on when reading Pit Bull by Marty Schwartz and if you haven’t read it I could not recommend it more highly. Marty Schwartz talks about Green Light / Red Light and Terry Laundry’s Magic T Theory - both very important concepts.
"Market Wizards is one of the most fascinating books ever written about Wall Street. A few of the ′Wizards′ are my friends—and Jack Schwager has nailed their modus operandi on the head." – Martin W. Zweig, Ph.D., Editor, The Zweig Forecast
I thoroughly recommend all of Jack's books.
A really insightful book. Great section on economics.
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With new commentary and Insights on the life and times of Jesse Livermore Reminiscences of a Stock Operator is the fictionalized biography of perhaps the most famous financial speculator of all time–Jesse Livermore. This annotated edition bridges the gap between Edwin Lefevre′s fictionalized account of Livermore′s life and the actual, historical events, places, and people that populate the book. It also describes the variety of trading approaches Livermore used throughout his life and analyzes his psychological development as a trader and the lessons gained through hard experiences.