Formula for multiple MAX date conditions

Hi,
I'm trying to create a formula that looks at the MAX date and of the MAX dates it finds (because there could be multiple entries with that date), look at the row with the MAX #'s associated with those MAX dates to check a box. I came up with this and I'm getting an Invalid error
=IF(AND(MAX([Date Only]:[Date Only]), MAX([Text #]:[Text #])), 1, 0)
Thanks in advance!
Answers
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What about using a modified date column? When you use a MAX formula on that it will also compare the time so if they're the same date it will go with the result that's the most recent time of that day.
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The problem with Modified Date is it updates ALL the rows when you save the sheet so it turns all the rows to the same modified date/time. I'm using it and copying it to another sheet and locking it when it's added. I've also separated the date and the time because when I do the max of the modified date, it things ALL of them are the most recent if they there are multiple rows with the same date.
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Sorry I meant to say when I don't separate the date and time, it won't look at them separately and checks all the rows with the same dates.
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