<object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/qCD3n6It420&hl=en&fs=1"></param><param name="allowFullScreen" value="true"></param><embed src="http://www.youtube.com/v/qCD3n6It420&hl=en&fs=1" type="application/x-shockwave-flash" allowfullscreen="true" width="425" height="344"></embed></object> every night i post here
I just wanted to mention to you traders here Think about the morning trade and how they where able to run this market up 14 S&P points after selling off then run down again.......................................hummmmm well one reason was a major pivot and support line but that not what I am trying to make you see When a area gets to overweighted at a price it will move away from that price meaning if you look at time and volume as well as price it was like everyone moved to one side of the boat at once! watch for volume spikes !!! you can go back and look at your chart and you will be able to see this may help when you are trading, or at least give you a heads up that trend may change for the short term
Currently, just 14% of stocks in the S&P 500 are trading above their 50-day moving averages. While this is extremely oversold, the number got down to 8% last August and 11% in January. Financials and Industrials are the sectors struggling the most. Each of them have just 2% of stocks trading above their 50-days. Consumer Discretionary isn't far behind at 5%, however. The two sectors that look the best at the moment are Health Care and Utilities. Health Care has 42% above their 50-days, while the Utilities sector sits at 39%. This area of 1240 is a key area my target do 29 was hit on Fri. now 1218 is open for a test a solid close below 1240 will not be good, we need to watch closing price from here intraday test is of pivot areas need to hold but pay attention to the closing price......................
The LOD of was 1225.50! What are you looking @? Monday's S1 is 1224 and that will be violated. Please wear a seatbelt. el surdo *** That is my S1 calc., I do not mean to hijack Joe's thread.
Just learning this,trying to get an understanding of whats to come elsurdo.Joe mentioned 1240 the sp closed slightly below.
Calculate the pivots yourself, it is no "mystery". Throw 'em into Excel and off ya' go! H = Yesterday's High L = Yesterday's Low C = Yesterday's Close R2 = (P- S1) + R1 R1 = (2 X P) - L P = PIVOT = ( H + L + C ) / 3 S1 = (2 X P ) - H S2 = P - (R1 - S1)
No problem but if you look at my pivots they are not how you calculate. it is not a mystery, I tell you in my videos I look at a monthly chart, weekly chart and a daily chart. However some are the same and some are not like you figure, I donât want people traders using a box version like that!!! They will not hold and with this volatility they could get hurt as I say in my videos, I do the pivots by hand if it happens by chance to line up with a box version on a few then so be it I do run a type of floor pivots to compare my hand ones and 1/2 the time they will line up. Take Care, Joe Baker