coondawg71

Arbitrary Price Pivot; SPX500; New Quarter baseline

FX:SPX500   S&P 500 Index
This chart is a bit late, as I was just reviewing an old script I posted a few years back called Arbitrary Price Pivots . The theme behind this post is the Arbitrary Price Pivot indicator used here is based on the new Quarterly level for SP500 . This version of APP colors the price bars based on its relative position versus the time selected ( 3M , equals three months, ala Quarterly time frame). So the view of this chart is attempting to showcase the movement of SP500 on a Quarterly time frame in conjunction with the rotation of contracts each Quarter. The indicator in the lower panel uses the Advancing Issues and Declining issues of the NYSE as a momentum reading. We obviously have begun this latest Quarter with a bearish bias thus far.
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