Issued: 06/07/2015
June S&P:
1. In Friday’s (June 5) S&P meeting it was noted that a test of and daily close above $2085 would be the stronger position. However, any subsequent hourly or daily close below $2085 next week (week of June 8) would indicate a tradable decline down to $2074/$73. Friday’s session closed at $2091.50.
2. Should the confirmed break of $2085 occur, partial short position exit should be taken at/near $2081/$80. Any remaining position should be held for the $2074/$73 downside target.
3. During the week of June 8 any larger decline would take the S&P to $2053/$51. Will update on this if the market confirms as noted above.
David Williams
Issued: 06/09/2015
June S&P:
1. In Friday’s (June 5) S&P meeting it was noted that any subsequent hourly or daily close below $2085 this week (week of June 8) would indicate a tradable decline down to $2074/$73. Friday’s session closed at $2091.50.
2. Yesterday’s (Mon., June 8) session closed both hourly and daily below $2085. Partial short position exit was taken at/near $2081/$80. Any remaining position was exited at/near $2074/$73 as noted in the original update.
3. During the week of June 8 any larger decline would take the S&P to $2053/$51. Will update.
David Williams