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Well done Bob! Thanks!
--- BobR <bobrabcd@xxxxxxxxxxxxx> wrote:
> Decided to check out the concept of confluence of
> pivots in different time
> periods, daily, weekly, monthly. Intraday on Friday
> the daily pivot was the
> sell point based on Thursday's HLC. Friday's close
> of 898.6 was below the
> weekly pivot at 901. Did you notice on Friday there
> was a lot of sideways
> movement below 900 after the AM drop. Wonder if
> that had anything to do
> with the weekly pivot? The weekly pivot is above
> the monthly pivot at
> 887.8. 4/23 had a maximum bullish(or contrarily
> bearish) configuration
> considering the relationship of pivot periods. That
> was similar to the lows
> in Feb and March. The March 31st low had a
> confluence of daily weekly and
> monthly before the snp rocketed upward. March 3rd
> had a confluence of daily
> weekly monthly as it went into sell mode. The 887.8
> April pivot will move
> lower if the snp close moves lower since it is
> composed of the monthly HLC.
> There is also a lot of price congestion at the 888
> level. That seems to me
> to be a market logic place for price to end the
> month. Also, 890.5 is a 50%
> retrace of the BC swing.
>
> bobr
>
>
> ATTACHMENT part 2 image/gif name=Pivot
Perspective.gif
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