In December I participated in the TSAA-SF Annual Round Up and gave a talk on pivots. One of the key points was: if above the yearly pivot, there is a very good chance of reaching YR1. If below the yearly pivot, then there is a very good chance of seeing YS1. In fact, using the Dow cash index or $INDU, only 4 years since 1950 have *NOT* seen either the YS1 or the YR1 within 1%.
So just 1 week into 2016 and this has already occurred for:
SPX cash, below YP 2015 on 1/6 (for session and close, 1/5 closed 1 point above) and already nearly tagged YS1 within 5 points. 5 SPX points is .25%, so I am going to say *close enough!*
IWM, below YP from 2016 open and tagged YS1 exact today 1/11.
NYA, below YP from 2016 open and came within .9% of YS1 today.
Last year, nearly every asset ETF available met this fundamental yearly pivot promise - so far of the ones I track 3 in the first week. What others will fulfill the yearly pivot promise too?