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Quote Originally Posted by ernsttanaka View Post
Billy,

Looking @ the multi time frame pivots, it seems a first real support for the IWM is 72.06. At that level you have a 19 weighted support.

Do you have one-eye on that level as a goal for the summer dolldrums?

Thanks,

Ernst
Ernst,
The 19 support cluster is computed as follows:
SPP = 6 + QS3 = 5 + YPP = 8
However, except if we see another flash crash, I doubt it is significant yet because it would require another loss of - 8.61% from yesterday's IWM close before July 1st. Indeed SPP and QS3 will be no longer active from July 1st. YPP will only remain and it can of course cluster again with new active levels, but it remains to be seen.
On July 1st, the landscape and road maps will be totally changed with new monthly, quarterly and semester levels. It is still too early to make a valid simulation of the future.
Billy