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I have little interest in "theoretical" support/resistance levels but in
the interest of education (as opposed to black-box numbers with no
explanation given), it took me 5 minutes to come up with these formulas
which match John's numbers pretty closely for the S&P on a few randomly
picked days. I didn't bother to check the Nasdaq or more than a few days
of the S&P because I have no personal interest in these numbers but
someone else can do it if he/she cares.
S&P Futures
range = high - low (day session only, not the 24 hour numbers)
R3 = close + range
R2 = close + .55*range
R1 = close + .27*range
S1 = close - .27*range
S2 = close - .55*range
S3 = close - range
Count me among the confused. Wouldn't it be simpler to just post the
very simple formulas than to post numbers every day surrounding them
with an air of mystery?
--
Dennis
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