Wondering if we will be able to stay above the WEEKLY PIVOT AT: 1062.17 With 5 more minutes left till the cash close, it's gonna be difficult!
Just that particular pivot may not be that important The lucky/unlucky thing is that some monthly pivots are also at those levels. One interesting thing with the S&P is that it seldom stays above its 10 period daily moving average for more than 8 to 9 days. The usual span is 4 to 5 days. The distribution is very stable and you can check it out yourself. Since ES is above its 10 day SMA for a while already, it must meet its SMA soon - maybe pulling the SMA up, maybe close lower, either case will do the job