Tuesday, November 12, 2013

Yearly R3 pivot been resistance

For the past 10 days Woodies Yearly R3 pivot point has stopped the rally. Until we breakout over $177.63, there's a chance of a pullback to the $173 gap. In 2012 Woodies Yearly R pivot was the high of the year. There is a 84% chance that this could be the HOY too. The yearly R4 pivot is at $182. Since 1970, the S&P has gone to the YR4 pivot only 4 times in 43 years. 3 of the 4 times it was the High of the year(HOY).