08/04/2014 – S&P Emini
Issued: 08/04/2014
September S&P:
1. Today’s daily close below $1938.50 in the September S&P (today’s daily close, $1932) is the earliest indication for a test/attempt at $1924/$23 (or lower) in tomorrow’s (Tuesday, Aug. 5) early session. Such a test would not necessarily end the current advance off the Friday, Aug. 1, $1910.25 bottom.
2. However, any hourly close or sustained break below $1919 in tomorrow’s (Tuesday, Aug. 5) session places the market in a much weaker position with a test/attempt at $1907 (or lower) indicated.
3. Keep the above in mind into tomorrow. Will update.
David Williams
Issued: 08/04/2014
September S&P, Correction:
1. Today’s daily close below $1935.00 (our previous update incorrectly indicated $1938.50) in the September S&P (today’s daily close, $1932) is the earliest indication for a test/attempt at $1924/$23 (or lower) in tomorrow’s (Tuesday, Aug. 5) early session. Such a test would not necessarily end the current advance off the Friday, Aug. 1, $1910.25 bottom.
2. However, any hourly close or sustained break below $1919 in tomorrow’s (Tuesday, Aug. 5) session places the market in a much weaker position with a test/attempt at $1907 (or lower) indicated.
3. Keep the above in mind into tomorrow. Will update.
David Williams
Issued: 08/05/2014
September S&P 500:
1. Yesterday’s (Mon., Aug. 4) September S&P report indicated that the market was in position to drop approximately 9 points and test $1924/$23 in today’s (Tuesday, Aug. 5) early session.
2. Today’s (Tuesday, Aug. 5) September S&P declined and completed the $1924/$23 downside target (today’s session low, $1922.25, so far).
3. Self-directed traders based upon yesterday’s report exited a portion of their position at/near $1924/$23. Hourly closes or a sustained break below $1919.00 are the weaker position and indicate lower prices, including a test/attempt at $1908/$07, also noted in yesterday’s report.
4. Hourly closes above $1919.00 are the stronger position and may prompt new long entry. Will update.
David Williams
CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.