09/21/2015 – S&P Emini

December S&P:

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.

David Williams