Posted on September 25th, 2009 at 11:00 AM

I came across an anomaly today that I see from time to time when using the MOB. I'm sure many of you have gone to plot a MOB on your chart at one time or another, and the MOB actually plotted BELOW where the market was headed instead of to the TOP side where you expected it to show up, or vice-versa.

While watching the 3-minute S&P today, this happened to me, and I'd like to share with everyone why, and how to get the exact MOB you're after.

First off, this happens in certain situation where there are TWO pivot points very close to each other on the chart, one in each direction. In today's market, this came at about the 145PM EST mark on, again, the 3-minute chart. You'll notice in the picture below that we marked a Wave 3 at that high, but the bar just before the 3 was a pretty volatile bar. That bar along with the one before it act as a very small pivot to the bottom side, and thus can generate a MOB as shown in this picture.

This SAME pivot area can also generate the MOB you were most likely looking for to the TOP side. All you have to do is bring your mouse cursor BELOW the pivot area and left click there to generate the MOB to the TOP of the market.

So the basic rule of thumb is this:

1. If you want a MOB to the TOP, click at the BOTTOM of the bar.

2. If you want a MOB to the BOTTOM, click at the TOP of the bar.

I hope that is helpful to you!

Be Prepared

Nate McCartney

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