This morning I labeled the previous high pivot as 1173.75 which is a mistake. The previous high pivot is actually 1176.50. The market tested that pivot this morning and went 1 handle higher to 1177.50 then faded.
Yesterday the market tumbled at 1445 ET, and today the market tumbled at 1345 ET. It recovered a little and close at 1173.75 which is close to today's Point of Control at 1173.50. Tomorrow morning we will see if the longs or shorts made the right gamble. Equity traders, of course, won't be able to trade until Monday.
Charles
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