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.