Posted by philosoraptor on 30th of Nov 2011 at 11:07 am
Pivots-wise, we have breached the seldom seen R4 today on SPY (@
$123.92).
How unusual is this activity? I have just scanned back
through my SPY charts for the whole of 2010 and 2011 - in all that
time, we have only breached R4 on one other occasion; the first
trading day of this year (Jan 3)!
FWIW, price action for that day was a nice inverted 'U' shape
i.e. it rose steadily before selling off from around 11.40am into
the close.
Today's trading has started in a very similar fashion.......
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Pivots-wise, we have breached the
ES 15 min
Posted by philosoraptor on 30th of Nov 2011 at 11:07 am
Pivots-wise, we have breached the seldom seen R4 today on SPY (@ $123.92).
How unusual is this activity? I have just scanned back through my SPY charts for the whole of 2010 and 2011 - in all that time, we have only breached R4 on one other occasion; the first trading day of this year (Jan 3)!
FWIW, price action for that day was a nice inverted 'U' shape i.e. it rose steadily before selling off from around 11.40am into the close.
Today's trading has started in a very similar fashion.......