01/24/2016 – S&P (Intraday Trade)

1. In Thursday’s, January 21) Williams edge S&P meeting (and in Friday’s 8:45 CST live messenger post) it was noted that the March S&P (then trading at approximately $1869) was likely to move substantially higher into Monday, January 25 (+1 day) and complete $1885/$86, then $1904/$05 and (under normal, non-bear market conditions) $1913/$15.

2. Today’s (Monday, January 25) session continued on the advance and completed the $1904/$05 upside target (today’s session high, $1904.25, so far). Although the possibility of a test/attempt at $1913/$15 remains as noted in the original forecast, we continue to treat the current advance as a bear market rally. Higher targets will be addressed if the market continues to confirm the current ongoing advance. Will update.

David Williams