Issued: 04/22/2014
June S&P 500:
1. The advance off the Monday, April 14 bottom in the June S&P 500 has been stronger than usual and has prompted extra caution on our part regarding new short indications, at least temporarily.
2. However, any further advance, test of and daily close below $1883/$85 will be the earliest indication for a tradable multi-day decline and test/attempt at $1838/$36 (or lower) into next week (the week of April 28).
3. The above is merely an outline, for now. Alternate scenarios of the above may also prompt new short entry. Will update as the market continues to confirm
David Williams
Issued: 04/28/2014
June S&P 500:
1. Our previous update for the June S&P 500 indicated that a failure at $1883 would indicate a decline to both $1863/$62 (this target completed last week) then a test/attempt at $1837 (or lower) into this week. This forecast (including a test/attempt at $1837) remains intact, for now.
2. $1872/$74 remains critical intraday resistance which must be maintained in order for the original forecast (above) to remain intact. More importantly, continued daily closes today below $1873 are necessary (and expected), for the larger decline to remain in progress. Will update.
David Williams
Issued: 04/28/2014
June S&P 500:
1. Today’s June S&P made its first attempt at completing the forecast decline from $1882/$83 to $1838/$36 noted in our original April 22 update (today’s session low, $1844.00).
2. In spite of today’s late session rally the trend remains down until a daily close above $1873, also noted in today’s earlier update.
3. It is possible that today’s $1844.00 session low is all the market can complete on the downside (with reference to the $1838/$36 downside target). If so, it would be an important early indication of a very buoyant market and the possibility of substantially higher prices still to come. Will update in tomorrow’s session.
David Williams
Issued: 04/24/2014
June S&P 500, (repeat of April 22 forecast):
1. The advance off the Monday, April 14 bottom in the June S&P 500 has been stronger than usual and has prompted extra caution on our part regarding new short indications, at least temporarily.
2. However, any further advance, test of and daily close below $1883/$85 will be the earliest indication for a tradable multi-day decline and test/attempt at $1838/$36 (or lower) into next week (the week of April 28).
3. The above is merely an outline, for now. Alternate scenarios of the above may also prompt new short entry. Will update as the market continues to confirm
David Williams
Issued: 04/24/2014
June S&P 500:
1. Today’s June S&P 500 attempted the $1883 upside target/potential selling territory noted in previous updates (today’s session high, $1882.50, so far).
2. Although no official short entry was messaged as yet, aggressive shorts from at/near $1883 should exit partials at/near $1863/$62.
3. Much lower prices remain indicatedinto next week, including a test/attempt at $1837, noted in the previous update.
David Williams
Issued: 04/29/2014
June S&P 500:
1. Today’s June S&P 500 tested $1873/$74 on the upside, (noted in the previous update) and closed the day at $1870.50, slightly below those levels. This is the weaker position, even if by a small amount.
2. Any early session decline and test at/near $1865/$64 (or lower) in tomorrow’s (Wednesday, April 30) session will be further evidence of an important secondary top and further multi-day decline likely. Will update in tomorrow’s early session.
David Williams
Issued: 04/30/2014
June S&P:
1. Yesterday’s (April 29) update indicated a test/attempt at $1865/$64 into today’s early June S&P session.
2. Today’s Globex S&P attempted the $1865/$64 downside target (Globex session low, $1866.25).
3. Although not intended to be traded, this minor decline is the earliest indication for a more important secondary top in the S&P in the April 30 (+/-1 day) timeframe. Any further test/attempt at $1865/$64 in today’s session remains important. Will update.
David Williams