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When a market is rallying and today?s low is less than the low of the highest day in the rally, that high becomes a pivot, or swing high.

Additional Comments:

When a market is declining and today's high is greater than the high of the lowest day, then that low becomes a pivot, or swing low. Each pivot high and low is called a pivot.

Related Terms:

Alternate Price Projection
(APP) Compares the price range of swings in the same direction. The most frequently used percentage ...

High-Tech Stock
Stocks of companies operating in high-technology fields. ...

High-Frequency Trading
Trading very frequently; scalping. A high-frequency trader uses tick data. ...

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