1. In yesterday’s (Monday, September 21) Williams edge live meeting it was noted that with continued hourly and especially daily closes above $1942, the December S&P was expected to advance and test $1980/$82 (or higher) into Tuesday, September 22 (+/-1 day). New long entry was indicated upon any test and hourly close above $1948. This led to new long entries at approximately $1954.
2. It was also noted in yesterday’s live meeting that while not expected, any confirmed break below $1946 would lead to sharply lower prices including a likely test/attempt at $1905/$03.
3. A protective sell stop was indicated at $1946.
4. Today’s (Tuesday, September 22) December S&P Globex session broke below $1946 and $1942 (resulting in a loss) and placing the market in a substantially weaker position. Today’s Globex session low has been $1925.75, so far. Today’s sharp decline is unusual behavior, as noted in yesterday’s meeting. Lower prices remain expected as noted above. Will message any further entry or indication as the market continues to confirm.