1. In yesterday’s (Tuesday, August 4) Williams edge live meeting (and in previous meetings) it was noted that the September S&P was expected to decline to $2078, then $2074.
2. However, it was noted that if the September S&P got back above $2092 or especially $2096 outright long positions should be immediately taken for substantially higher prices, including the possibility of a break to all-time new recent highs.
3. For those following the above indication, partial long position exit should be taken at current prices (current price, $2098.00). Further long position exit should be taken at/near $2108/$09 and final long position exit at/near $2114.00. Aggressive can continue to hold any remaining position for $2118.00 and/or the possibility of all-time new highs into later this week.
4. A protective sell stop should be placed at $2090. This stop will be moved higher as the market continues to confirm. Will update.
1. Exit any remaining long positions at current prices (approximately $2095.75). A long reentry will be messaged if the market continues to confirm at/near $2095/$96.