ES Journal Archive (2009 - 2010)

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Quote from LEAPup:

Went long at S3 1128.
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Quote from wiesman02:

Is that an RTH pivot ? because its definitely not a 24 hour pivot
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Actually it is a 24 hr pivot. Yesterday's 24 hr H = 1174.75, L = 1153.75, Settlement (more accurate than Close) = 1156.75. With the most commonly used pivot formula that makes S3 about 1127.75, hence his long at 1128.
 
Quote from Magna:

Actually it is a 24 hr pivot. Yesterday's 24 hr H = 1174.75, L = 1153.75, Settlement (more accurate than Close) = 1156.75. With the most commonly used pivot formula that makes S3 about 1127.75, hence his long at 1128.
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I've got the pp @1161, s3 @1119, and S2 @1140.

Those are the 24 hour pivots, calculated based upon the contract setup.
 
Quote from wiesman02:

I've got the pp @1161, s3 @1119, and S2 @1140.

Those are the 24 hour pivots, calculated based upon the contract setup.
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Your PP and S2 are a little off, but close. Most algorithms agree on the PP, S1/R1, S2/R2 methods of calculations. So today, based on the 24 hr numbers from yesterday, the PP = 1161.75, S2 = 1140.75. Where various software packages (or formulas in Excel spreadsheets) differ is on the S3/R3 and S4/R4. Many do S3 = S1 - RANGE. That would give you the 1127.75 figure I mentioned. Some do S3 = S2 - RANGE. That would give you 1119.75 which is close to your number. By the time price gets to S3 (or S4) you are in a serious trend so I'd be real careful expecting calculated pivots at those extremes to get honored, although LEAPup made a bet using the 1127.75 number and it worked.
 
Quote from Cotton:

newbie question:

does it mean anything that neither the ES or NQ were able to cover the gap up from last Fri's close?
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yes... it means we'll be shorting our way down to that mark on Monday.

Then we have no fewer than three (3) open gaps still above to contend with. Wild times, good times are back for emini traders :)
 
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