Tuesday, February 23, 2010

Russell 2000 hits monthly pivots

The Russell 2000 futures this month fell to the Monthly S1 pivot(see lower blue circle), and then rallied up to the Monthly R1 pivot(see top blue circle) yesterday. The Monthly pivots told traders where support and resistance is, for the month of February. Buy S1 sell R1. That's Pivot Power! If you bought 1 TF futures contract at S1 and sold it at R1, you would have made $5000 in 2 weeks.