Conflicting Settings Again - November 4, 2011

[Billy]

Forum Clusters 111104.xlsx

All we can say about IWM is that the expected trading range that I wrote about last weekend is becoming reality and the ETF is now near the middle point on the Weekly pivot (74.51).

Depending on the reaction to the employment report or other headline news, I see it as having as many chances to hit first SS1 (77.56) than SS2 (72.33). Indeed, there are only weak daily levels to cushion any move in any direction. Such a setup, combined with conflicting LT/ST settings from the robot, doesn’t provide any proactive edge whatsoever.
Billy

[buzzman]

Hi Billy,
At your convenience can you tell me how you get the SS pivot points on tc2000. My tc2000 shows every period except the SS.
Thanks,
Buzz

[Billy]

Hi Billy,
At your convenience can you tell me how you get the SS pivot points on tc2000. My tc2000 shows every period except the SS.
Thanks,
Buzz

Buzz,

They are the semester (half-yearly) levels. I update the multi levels manually in TC2000. You can easily find their values in the Forum Clusters file that I post daily. All levels in the file are using Yahoo Finance data, not TC2000 data.

As a reminder, you must only use the highs, lows and close of the previous period. Current SS levels are using data from January,1 to June, 30. The formulas for calculating pivots are as follows:
Resistance 3 = High + 2*(Pivot - Low)
Resistance 2 = Pivot + (R1 - S1)
Resistance 1 = 2 * Pivot - Low
Pivot Point = ( High + Close + Low )/3
Support 1 = 2 * Pivot - High
Support 2 = Pivot - (R1 - S1)
Support 3 = Low - 2*(High - Pivot)

Billy

[buzzman]

Thank you, i've got it.

[lulzasaur]

Hi Billy,

A lot of people have been pointing to the 30-min head and shoulders pattern that is forming on the IWM (and, conversely the SPY). Any thoughts on this?

Thanks.

[Andrei]

Hi Billy,

A lot of people have been pointing to the 30-min head and shoulders pattern that is forming on the IWM (and, conversely the SPY). Any thoughts on this?

Thanks.

See http://www.effectivevolume.com/showt...r-2-2011/page2

[lulzasaur]

Ah, I must have missed that. Thanks Andrei.