1. In today’s (Thursday, May 5) Williams edge meeting it was noted that the June S&P (then trading at approximately $2048) was expected to advance and complete $2058/$60 into mid day or slightly beyond.
2. Subsequently, the June S&P declined and hit our $2048 protective sell stop (noted in the pro-trading room). Later, the June S&P inverted (expressed the forecast up move as a decline) and retested our recent $2039 downside target. This is unusual behavior and indicates a larger, more important directional move in preparation. Will message any further entry or indication in the June S&P.