01/29/2016 – S&P (Intraday Trade)

March S&P:

1. As noted in our earlier Williams edge S&P report and live messenger window, continued daily closes above $1861 (which was expected) would indicate an advance to at/near $1930/$31, then $1944/$45 (or higher) into Thursday, January 28 (or slightly beyond). Hourly or especially a daily close above $1900 would further confirm the above noted forecast.

2. Today’s (Friday, January 29) March S&P session broke out above the $1900 level which indicated the advance to $1930/$31. Then $1930/$31 upside target was completed in today’s session (today’s session high, $1933.00). This successfully completes the initial portion of the trade. Higher prices remain likely into next week.

David Williams