Posted Feb 5, 2016 by Martin Armstrong
Over the weekend, we will be adding the Opening Pivot Number for the trader preview version that is under review by WEC attendees.
This was written in the Dow as of January 29. It picked the high on February 1, which opened just below the number at 16453.63, signaling it would finish down, and closed at 16449.18 which was down from the previous close of 16466.3. It might not look dramatic, but that was the high, and the low thereafter reached the 15960.45 price level.
Here is what Socrates wrote:
Our number to watch for tomorrow’s opening will be 16657.34. We need an opening print above that number to maintain any upward momentum. Otherwise, we may see the market finish down by the close of trading. Caution is now advisable if we open beneath this level.