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Saturday, January 15, 2011 11:24:24 AM
A daily close below the trend line currently at 1273 would be a signal to sell longs. However, I would be hesitant to sell short without a prior TCL OS & R or a TL test after the break and failure breaking though the prior low. "Identifying a change of trend: Its as easy as 1-2-3" is explained in Trader Vic's "Methods of a wall street master" on Pg. 74. Below a TL test after a break can be seen on Nov. 18th but there was no break below the prior low setting up a daily short.
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