1. The June S&P continues its runaway bull trend.
2. Although not an outright forecast, any further test of and daily close below $1943 is important and may prompt new short entry. Will update as the market continues to confirm.
1. In Monday’s (June 9) Williams edge live meeting two scenarios were laid out for the S&P into Tuesday, June 10.
2. The alternate scenario called for the June S&P to decline and test $1943 on Tues, June 10 and close the day above that level, then continue a multi-day upward movement.
3. Today’s (Tuesday, June 10) session completed the alternate scenario by declining to $1943 (session low, $1943) and later closing the day at $1951.50. Therefore, the market remains in the stronger position with higher prices likely. Any daily close below $1943 may change the above outlook. Will update.
1. Today’s June S&P continued on the recent forecast advance and completed the $1943 upside target noted in yesterday’s (Thursday, June 5) update (today’s session high, $1947.00, so far).
2. From today (Friday, June 6) forward, daily closes in the June S&P above $1943 are the stronger position and the earliest indication for a finishing advance and test/attempt at $1961/$63 into next week (week of June 10).
3. Any daily close below $1943 (by more than a small amount) will likely negate the $1961/$63 indication noted above and may prompt a tradable decline. Will update as the market confirms.
1. The recent June S&P broke below the critical $1943 level (noted when the June contract was active) and has completed the majority of the decline to both $1928/$27 and $1915 noted in recent Williams edge meetings (Thursday, June 12 session low, $1917.50). These completions occurred in the new incoming Aug. S&P contract.
2. Watch for any advance and test of $1935/$36 (or higher) into Tuesday, June 17 (+/-1 day). While not intended as a trade, such advance may set a further set up into motion. Will update.
1. Yesterday’s (Monday, June 16) report forecast a test of $1935/$36 in the September S&P into today, Tuesday, June 17 (+/-1 day).
2. Today’s (Tuesday, June 17) session advanced, making a swing high of $1935.00, before reversing lower (today’s session low, $1923.75, so far).
3. Although not intended as a trade, today’s completion and reversal at $1935 is important and may set further trades into motion. Will update.