RE: US Stocks - Watchlist and Discussion (Premium)
Hi Isa, I have a question about a "key reversal day". Re-reading GTA 2012 Weinstein defines a key reversal day - when an index or stock makes a new high for the move, and then not only reverses and closes down on the day, but closes below the low of the prior day. He goes on to say a true key reversal should occur on significant volume.
Does April 4th qualify as a key reversal day. Open 1890, high 1897, close 1865 (which was below April 3rd's close of 1888)
I first noticed the term key reversal day in one of your interviews with Stan Weinstein. I believe it was in response to a question what changed his mind to be bullish at the end of 2012. Stan Weinstein's answer if I remember was a key reversal day in November. That brings me to my second question, what is a key reversal day for an upturn in a trend?