1. In today’s (Fri., Jan. 30) S&P messenger window it was noted that if the March S&P could stay above $1994 it would advance to $2006/$07.
2. Subsequently, the March S&P tested the $1994 level (session low, $1993.25) and reversed quickly, completing the $2006/$07 upside target/trade.
3. Today’s session has shown slightly unusual behavior which can indicate a more important directional move in preparation for next week. Will update in next week’s session.