Symbols are based on Yahoo format. Please be aware the auto pivot tool uses Yahoo data and can be subject to occasional adjustments, especially Dow Jones Index. In this case use our Index Pivot Points page as is created with pivot points stable data.
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This article needs additional citations for verification. The pivot point levels are highlighted in yellow. In financial markets, a pivot point is a price level that is used by traders as a possible indicator of market movement. It is customary to calculate additional levels of support and resistance, below and above the pivot point, respectively, by subtracting or adding price differentials calculated from previous trading ranges of the market. A pivot point and the associated support and resistance levels are often turning points for the direction of price movement in a market. In an up-trending market, the pivot point and the resistance levels may represent a ceiling level in price above which the uptrend is no longer sustainable and a reversal may occur. Price support and resistance levels are key trading tools in any market.
Their roles may be interchangeable, depending on whether the price level is approached in an up-trending or a down-trending market. These price levels may be derived from many market assumptions and conventions. In pivot point analysis, several levels, usually three, are commonly recognized below and above the pivot point. This concept is sometimes, albeit rarely, extended to a fourth set in which the tripled value of the trading range is used in the calculation. Qualitatively, the second and higher support and resistance levels are always located symmetrically around the pivot point, whereas this is not the case for the first levels, unless the pivot point happens to divide the prior trading range exactly in half. The pivot point itself represents a level of highest resistance or support, depending on the overall market condition. Trading above or below the pivot point indicates the overall market sentiment.