1. In today’s (Thurs., Jan. 15) Live Messenger it was noted that a daily close in the March S&P today above $1986 would be an important early indication for a tradable advance in tomorrow’s (Fri. Jan. 16) early session.
2. However, today’s March S&P Globex session has broke to new recent lows which is the earliest indication for a continued decline and test/attempt at $1968, then $1964 (or lower) in tomorrow’s early session.
3. Aggressive can take advantage of the above information. However, new short entry will be messaged in tomorrow’s early session if the market continues to confirms with an initial hourly close below $1986.00.
1. In yesterday’s (Thurs., Jan. 14) March S&P (Globex session) update it was noted that aggressive traders could short the March S&P at the then current price of $1981/$82 for further decline to at at/near $1968 (initial target), then at/near $1964 (final target).
2. Subsequently, the Globex March S&P declined approximately 12 points to a session low of $1970.25 (against our $1968 initial downside target) before reversing and continuing to advance into today’s pit session.
3. It is assumed that an initial profit exit was taken on the downside before the later advance occurred. Today’s pit session of the March S&P continues to show choppy, tricky behavior. Will message any further entry or indication as the market confirms.