The test was to use daily data to see what percentage of times the market's high or low bounced off the different often quoted Pivot levels. Put another way, how effective are these levels. Now obviously day traders use these intraday a bit, which would mean the market may temporarily bounce off these levels and may later go through them, meaning my analysis would not show this. I think, though, that the largest moves require that either the high or low of the day hits and bounces off one of these levels.

So I took the usual pivot levels and created a band around then. I used a 10% of the previous range either side of the pivot level. This seemed reasonable.

Then I did a few stats test to see if the level was hit and if so did it act as support or resistance.

The following is what I found. Sorry about the formatting it's driven me crazy. The first number is the occurrance frequency the second is the percentagel.

Pivot Only Stats Number Percent

days total 5954

pivot touch 4551 76.4

Support 764 16.7

Resistance 591 12.9

S1 Stats Number Percent

days total 5954

touched 3008 50.5

Support 809 26.8

Resistance 67 2.2

S2 Stats Number Percent

days total 5954

touched 1186 19.9

Support 591 49.8

Resistance 21 1.7

S2 Stats Number Percent

days total 5954

touched 635 10.6

Support 167 26.2

Resistance 3 0.47

R1 Stats Number Percent

days total 5954

touched 3172 53.2

Support 100 3.1

Resistance 970 30.5

R2 Stats Number Percent

days total 5954

touched 1418 23.81

Support 9 0.63

Resistance 386 27.2

R2 Stats Number Percent

days total 5954

touched 582 9.7

Support 3 0.51

Resistance 166 28.5

So all in all not much to write home about. Would appreciate comments. I've also done a spreadsheet for data mining different zonal open/close and support resistance based on J.T Jackson and or Krausz.