SmartAsskieOne... Wow, dats a GOOD question and deserves some attention so let's attend to it now?
We started at the OE Pivot, 43.82, yes? We can ONLY go one of TWO directions, Up or Dn, yes? We've already tagged the R1, 44.37 and the S1, 43.27, yes? We even made it as high as up 1.6%(44.50) but where are we NOW, up 0.3% and struggling to close ABOVE the OE Pivot, NOT Good!?
The OE stuff to date!
OE Pivot, 43.82, close on 15Feb
High, 44.50, up 1.6%
Low, 43.24, dn -1.3%, new low 20Feb
Close, 43.94, up 0.3%
Spread, 1.26
PM, 2.9%
I reported on the importance of the Close-ing prices in regard to the OEPM factor and nothing has changed this! When da-Boyz closed above the FebOE at 45.59 on 01Feb I called-em OUT and said they got me attention BUT, if they could NOT close above that OE Pivot TWO days in a row then its just what I thought, some serious Picture Painting and NOTHING else! Well, the Very NEXT day prices dropped -1.4%, yes?
Below I've extracted the OEPM table from the MarOE stuff post and this table was created on 15Feb and does NOT change until 20Mar! Unlike the OEPM table - TA, Charts, Fibs and Lies, MOVE, and they move constantly (u can C Gleno singing about dis, dat or the udder line and how it's moving every couple hours, OUCH) and I'm NOT interested in trying to HIT a moving target!
The Beauty of an OEPM line is that it is STATIC and since we have Yearly, Qrtly, OE, Wkly, and even daily pivots, one can pretty much COUNT on that line being a TRUE Pivot point!
R8, 48.2, 10%
R7, 47.65, 8.75%
R6, 47.11, 7.5%
R5, 46.56, 6.25%
R4, 46.01, 5%
R3, 45.46, 3.75%
R2, 44.92, 2.5%
R1, 44.37, 1.25%
Pivot, 43.82, 0.0%
S1, 43.27, -1.25%
S2, 42.72, -2.5%
S3, 42.18, -3.75%
S4, 41.63, -5%
S5, 41.08, -6.25%
S6, 40.53, -7.5%
S7, 39.99, -8.75%
S8, 39.44, -10%
In Summary, there really isn't a Substitute for da-OEPM factor and when price fails to close above said Pivots of meaning, there really is NO other expectation other than a reversal in price!?
I know this seems rather Simplistic and one may ask how can something created on the third Friday of the Month HOLD such influence over Future price action, well, because it is derived from a ROOT factor of dis-GAme, da-Boyz! And since da-Boyz make da-Rules I suspect knowing what they're doing and having a tool to monitor their actions might create some rather Fruitful implications, don't YOU!?
Good trades and Good Indicator Hunting,
nm
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