04/09/2015 – S&P (Intraday Trade)
June S&P:
1. In today’s (Thurs., April 9) S&P messenger session our 8:35/40 CST post indicated that an hourly close above $2076 in the June S&P would indicate a tradable advance to $2085/$87 in today’s session.
2. Initially today’s first hour appeared strong and likely to close above the $2076 level, prompting new long entries. However the market closed the first hour back below $2076 resulting in an initial loss.
3. Later in today’s 3rd hour the market was able to close back above $2076 and the market then completed the original forecast advance from $2076 to $2085/$87 (today’s session high, $2087.00, so far). This completes the forecast/trade.
4. While today’s initial tricky behavior made new swing trading entry less attractive, the completion of $2085/$87 is important and sets several tradable indications into motion for tomorrow.
David Williams
CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.