1. In today’s (Tues. June 2) live S&P messenger it was noted that today’s early session decline was likely to test/attempt the recent $2091/$90 downside. However, today’s early session was unable to complete that downside target (session low, $2094). This was somewhat unusual behavior and prompted extra caution on our part.
2. Later in today’s session with the market trading at $2113/$14 it was noted that under normal market conditions (questionable in today’s session) the next move would take the market down to $2106 into today’s later session.
3. Subsequently, the June S&P declined to $2106, completing the forecast. Although today’s session displayed unusual behavior, today’s movement is important and set several tradable indications into motion for tomorrow.