June S&P 500:
1. In recent Williams edge live meetings it was noted that Wed., June 4 would likely start the next important move in the June S&P (whether up or down). Today’s (Wed., June 4) session broke out to all-time new highs at $1927 and closed at $1925.50. This is a neutral close.
2. Also noted in recent live meetings was the next important upside target at $1934/$35. This target may be used for new long entry once the market has confirmed above $1926.
3. On Monday, June 2 we noted that any hourly or especially daily close below $1912 on June 4 or later would indicate a sharp decline and test/attempt at $1904/$03 then $1894/$93. This remains valid until further notice. Will update.
1. Since Monday, June 2, Williams edge had forecast that the next important directional move in the S&P would begin on Wed. June 4 and any confirmed breakout above $1926 should be bought for a tradable advance to $1934/$35.
2. Today’s (Thursday, June 5) session confirmed by closing hourly above the $1926 level (hourly closed $1927.50) and quickly completed the forecast $1934/$35 profit target (today’s session high, $1934.25). This completes the trade.
3. The original forecast also noted in that the $1934/$35 profit target was important actionable short selling territory if the market closed hourly or daily below that level. Today’s Globex session closed the completion hour at $1929.25, well below $1934/$35. This is an important early indication. Will update as the market continues to confirm.