Issued: 05/01/2014
June S&P:
1. Continued daily closes below $1883/$84 in the June S&P indicate new short entry for a multi-day decline and test/attempt at $1860/$59 (or lower) into next week (week of May 5). Will update.
David Williams
Issued: 05/01/2014
June S&P 500:
1. Today’s June S&P closed below the critical $1883/$84 noted in today’s (May 1) previous update. This is the earliest indication for a larger potential decline, also noted in the previous update.
2. Initial protective buy stop should be placed at $1885.25. This stop will be moved lower as the market continues to confirm.
David Williams
Issued: 05/02/2014
June S&P 500:
1. Today’s June S&P 500 advanced beyond the important $1884 closing level (noted in previous updates) and triggered our $1885.25 protective sell stop. This resulted in an approximate loss of 6 points.
2. Continued daily closes below $1883/$84 remain important and may prompt further entry. Will update.
David Williams
Issued: 05/05/2014
June S&P:
1. Our original May 1 update forecast that a daily close below $1883/$84 would indicate a decline and test/attempt at $1860/$59 into the week of May 5 (this week).
2. Friday’s (May 2) session again tested the $1883/$84 level (Friday’s session high, $1886) and closed below $1883/$84, sending prices lower into today, as indicated.
3. How the June S&P handles the $1860/$59 downside target (or lower) remains important. Will update.
David Williams
Issued: 05/05/2014
June S&P:
1. Today’s June S&P declined sharply and completed the forecast move from $1883/$85 to $1860/$59 noted in previous updates (today’s session low, $1860/$50, so far. This completes the move. Will message any further entry or indication as the market confirms.
David Williams