Next week's pivots.........?

[Yigal 10]

Hi everyone,

 

I need some help regarding next week's and Monday’s pivots for YM. On mini-sized Dow ($5) Futures June 2007 they used Fridays (pit trading?) high, low and close for calculating Monday’s and more importantly weekly pivots, while others such as (Pivot Points for DJIA mini-sized {Jun 07} YMM07) only take Thursday as the last day of the trading week. Pivots are completely different, the same with MP levels.

Could you suggest which calculations should be used, and what are correct VAH, VAL and POC?

 

Regards.

[notouch 10]

On mypivots.com they're using the official YM high, low and settle prices - nothing to do with the pit. Strictly speaking those are the "official" pivot levels but it means the YM pivot levels are out of line with the underlying index (the DJIA) because the NYSE was closed on Friday. For the weekly pivot I would definitely include Friday because there was trading following the important employment numbers. I doubt the daily pivots or MP levels will provide much support or resistance.

[TinGull 10]

I'll be using Thursdays numbers, since Friday was regarded by most as a holiday. I don't think a couple hours of trading really constitutes a full day of trading to make pivots off of.

[dalby 10]

i am doing the same. i will keep fridays hi's and lows on my charts, for a reference point, but i will only be calculating floor trader pivots off of thursday's session