05/21/2014 – S&P Emini

Issued: 05/20/2014

June S&P:

1. Today’s June S&P closed hourly below the critical $1874 level noted in the previous update, prompting new short helloentry. A daily close today below $1874 is the weaker, also noted in the update.

2. The $1866 level remains important as well and is partial profit-taking territory (current price $1867.00). Will update.

David Williams

Issued: 05/20/2014

June S&P:

1. Our earlier June S&P update indicated $1866 as important profit-taking territory on the downside based upon today’s $1872 (hourly close) short entry.

2. While not an outright forecast, continued hourly closes above $1866 give the possibility of a retest at/near $1876 before further decline continues noted in the original May 19 update.

3. Therefore, protective stops should be at $1878.00 for now and will be lowered in tomorrow’s session as the market continues to confirm. Remember, a test of $1876 is not an outright forecast and may not actually occur. It is just a possibility which is being taken into account. Will update

David Williams

Issued: 05/21/2014

June S&P:

1. Today’s June S&P advanced and completed the $1876 upside target (and higher) noted in the previous update and triggered our suggested $1878 protective buy stop.

2. Today’s larger than usual advance (beyond $1876) is unusual behavior and the earliest indication for the possibility of higher prices. A daily close today above $1885 is the stronger position, below $1880 is the weaker position. Will update.

David Williams

Issued: 05/19/2014

June S&P:

1. The June S&P continues its expected multi-day advance off the recently forecast May 16 (+/-1 day) daily market bottom. This daily bottom occurred one trading day early, on Thursday, May 15.

2. Barring a breakout to all-time new highs (above $1898.50), an important decline and test/attempt at $1857/$55 or lower is indicated into next week (the week of May 26 +/-1 week). However, the decline to $1857/$55 (or lower) could begin (and complete) during this week, as well.

3. For now, any hourly or especially daily close below $1874 will be the earliest confirmation of the above noted decline and will indicate new short entry. An alternate short entry from higher prices may be messaged if further advance occurs. Will update.

David Williams