1. Our previous Williams edge S&P report indicated that continued daily closes above $1861 in the March S&P would indicate a test/attempt at $1930/$31, then $1944/$45 (or higher) into Thursday, January 28 (or slightly beyond).
2. However, today’s (Wednesday, January 27) Fed announcement session produced one hourly close above $1900 before reversing sharply lower and closing the day at $1871.
3. Today’s market behavior must be considered the weaker position, at least temporarily. A test/attempt at $1854/$52 (or lower) may occur this week. However, note that the original forecast noted above is not negated until a daily close below $1860 occurs. Will update in tomorrow’s live session.
1. As noted in our previous Williams edge S&P meeting, the forecast January 19 weekly bottom (last week’s $1804.25 bottom) in the March S&P is considered complete. From this point forward, continued daily closes above $1861 (which is expected) indicates a test/attempt at $1930/$31, then $1944/$45 (or higher) into Thursday, January 28 (or slightly beyond).
2. Hourly or especially a daily close above $1900 will further confirm the above noted forecast. Will update in the live messenger window and subsequent reports as the March S&P continues to confirm.