1. In yesterday’s (Wednesday, January 20) 3:05 CST live messenger post it was noted that a test/attempt at $1838/$37 was expected in today’s early session.
2. The Globex overnight session completed the $1837 downside target (today session low, $1836.25). This prompted our short entry today at approximately $1847 for a pit session completion of the same target.
3. Partial short position exit was taken it $1842 and the market bottomed at $1840.75 before reversing powerfully to the upside, resulting in a loss on the position. While unfortunate, the current volatility requires more distant protective stops. Will message any further entry or indication in the March S&P.