PIVOT POINT FACTOID
I have spent some time lately on the Pivot Point concept and I have some more information which may make for some profitable trading.
Today the SPY Pivot Point is approximately 130.1 and the price was touched in the early morning trade.
I have read studies which have found that the SP 500 Pivot Point is touched almost 75% of the time in the next days trading. For what it is worth, the Pivot on SPY has been touched every day since March 21. The Pivot on Monday for the SPY is going to be about 129.75 so if we close a little below that area it may be worth a shot to buy some SPY or EMINI's in the anticipation of that number being touched on Monday. It is not a home run trade but it is a high probability trade and one could adjust trade size accordingly.
Today the SPY Pivot Point is approximately 130.1 and the price was touched in the early morning trade.
I have read studies which have found that the SP 500 Pivot Point is touched almost 75% of the time in the next days trading. For what it is worth, the Pivot on SPY has been touched every day since March 21. The Pivot on Monday for the SPY is going to be about 129.75 so if we close a little below that area it may be worth a shot to buy some SPY or EMINI's in the anticipation of that number being touched on Monday. It is not a home run trade but it is a high probability trade and one could adjust trade size accordingly.
posted by DAVID at
3:43 PM
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