Support & Resistance Report

[Mr Nasdaq]

gloe,

Thank you for your very informative post!

Here is another thought about "R2" ... It has a lifespan of 1 day, as do the other Pivot Numbers, "S2" and "PIVOT".

That's because Pivot Nubmers are derived from the previous day's high, low and closing price. Friday had another set of Pivot Numbers in force that were derived from Thursday's high, low and closing price.

For that reason, it's usally not a good idea to base the next day's trade on the previous day's Daily Pivot Numbers, unless, of course, the previous day's Daily Pivot Number is part of an area of "Gathering Resistance" or "Gathering Support".