It should be on all the basic feeds. I have it on Redi, eSignal, and TrackData. A pretty standard indicator. Don
IMO, it's just the opposite. Imagine a pickup truck with a somewhat elastic rope behind it tied to a trailer. The Pickup truck accelerates, and the trailer holds back for a second, and then catches up with the truck, sometimes even getting even or past the truck. Truck is the emini futures. Trailer is the SPY and/component stocks. This is why the futures are the "leading" indicator for stock trading. Don
very interesting Don...many would say that Cash SPX is the real leader...but, makes sense that futures would be the leader, as they are "out there" in the 'future'...leading...
To the guy that said the pivot points are just toys. Well when we play games like picking other peoples pockets in a game of chance (ODDS), we use certain "TOYS" to ascertain the probabilities that price will do what price will do. Without our "TOYS" what else do we have? Any person that has been as Don says "been in the saddle" knows being a whiz kid with real intelligence is just fooling him/her self in a game of chance without so called "TOYS". Come on down a few notches in your thinking and come play with us all as we "TOY" around. ..
Just market mechanics at work. When institutions and large firms are buying futures, the traders simply let the prices run as high as they can. They end up selling with a Premium to Fair Valu (cost of carry), and then buy the stocks to lock in a theoretical hedeged profit. Reverse that, same thing happens on the downside and they buy under FV. Don
We use the Hi/Low/Close from previous day (it would be nice however if we knew those numbers for the current day, however, LOL). All the best, Don
Thanks Don. I read on this board somebody saying they calculate pivot points for the last 10/13 periods of the current day. So I asked that question.