agnosia wrote:1349 pivot has been a magnet all day, leads me to believe no human traders around. guess we have to wait for the last hour for a break ....
i do a lot of pivot related trading, but i don't see 1349 anywhere.
Pivot Points
Standard (S)
PP
1341.25
Camarilla (C)
R1
1343.80
S1
1341.70
Woodie (W)
PP
1338.75
Floor (F)
PP
1341.25
DeMark (D)
PP
1342.50
The goal is not uniformity. It is understanding and idea exchange.
Mr. BachNut wrote:The VIX has absolutely flatlined at 16.4 give or take. Until it moves one way or another, it is hard to have conviction about a trade.
16.4 is historic support for Vix.. I always short the market when Vix at this level
yoku wrote:
i do a lot of pivot related trading, but i don't see 1349 anywhere.
Pivot Points
Standard (S)
PP
1341.25
Camarilla (C)
R1
1343.80
S1
1341.70
Woodie (W)
PP
1338.75
Floor (F)
PP
1341.25
DeMark (D)
PP
1342.50
i forward calculate my pivots on the days range and plug in closing prices until the pivot is equal to the assumed closing price... it's where these two intersect that the market trades around for a majority of the day. this has been working for 90% of range days.
i should be more clear. when i say "pivot" i really mean "forward assumed closing pivot"
Last edited by agnosia on Tue May 10, 2011 2:00 pm, edited 1 time in total.
Prices appear to be consolidating in a Symmetrical Triangle. If prices break north, they are probably limited to the up side by the upper boundary of the blue channel.
still believe the breakout will be on the upside. still cannot believe the market would pullback hard from here.
Attachments
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
call me bullish biased, but i still think this kind of consolidation is bullish, the breakout is imminent.
Attachments
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.