[Pivots] New Pivots?

[Minetoo]

For the past few days I have been listening to CME trader Jack Broz's opening bell discussions. After an initial overview he goes down to the floor to get the daily pivots from the traders there for the S&P 500, Bonds and Dow cash. The numbers he comes back with have no correlation to any pivot formula I currently know.

Can anyone figure out how these figures are calculated?

Pivots for S&P500 for Fri. Feb. 15/08
1357.25 strong resistance
1350.75
1347.50
1339-1340 Daily pivot area
1333
1328
1323
1320.50 strong support

Obviously, if these are the support and resistance levels the floor traders are using - I need to retool.
And yes, I have asked Jack how they are calculated and he says he doesn't know he just uses them.

[brownsfan019]

Good thread MT. I've glanced at Jack's site through the years and it looks like there is value in what he provides. As for the levels, my best guess (and just a guess) is that these numbers may not have a hard formula, like most standard pivot formulas use. I would guess that while these are called 'pivots' it's more support/resistance than anything.

[Minetoo]

Perhaps these guys are using pre-opening or opening numbers (sort of like a rolling pivot) to come up with these levels. They seem to account for the frequent opening gaps.

[BlowFish]

Interesting that there are 4 downside and only 3 upside levels. I can see some correlations (47.50 is a weekly PP using 'classic H+L+C/3 for example). I wonder if they are coming from some sort of advisory service and been done by someone in a partly discretionary fashion? Certainly wouldn't be the first time.

[Minetoo]

Oops. Jack is a CBOT trader. Anyway, he's a a little fuzzy and harried in the morning so maybe that's why a level is missing. I will post more floor numbers in the coming days and perhaps some mathamagician will be able to figure out how they calculate them.

[Minetoo]

Found this site where you can hear Broz' daily morning call. It may be tape delayed but you can still get the S&R numbers floor traders are looking at.
http://www.futuresboard.com/?ab=audi...ackbroz&num=71