As many of investors are aware, price pivots in the market often serve as support and resistance and can produce some trend changes.
Since we are still in January, and the stock market and broader financial markets are beset by volatility, I thought it would be good to share the 2016 yearly pivots for the major stock market indexes and commodities.
The yearly pivots tend to be price levels where the markets can see big price turns. Just 3 weeks into the year, we have seen lows at or very near the Ys1 2016 yearly pivots for WTI Crude Oil, the S&P 500 Index (SPX), the Dow Jones Industrial Average (DJIA), and the Nasdaq 100 (NDX).
The year is still young and the extent of the decline unknown, but the market has a way of recognizing these distinct 2016 yearly pivot points. So be sure to put them on your radar in 2016.
2016 Yearly Pivots for the Major Stock Market Indexes, Commodities, and More
Thanks for reading and good luck with your trading in 2016.
Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.