1. In today’s (Tuesday, October 25) Williams edge live meeting it was noted that the December S&P was expected to test $2132 into Wednesday, October 26. Today’s post market Globex session (which will print as tomorrow’s Wednesday, October 26 daily bar) completed the forecast $2132 downside target (Globex session low, $2131.75, so far).
2. However, today’s (Tuesday, October 25) daily close at $2136.75 places the market into a ‘crash’ position. While this position does not outright forecast a market crash, it is a position from which fast sharp declines have occurred. Therefore, this must be viewed as a cautionary signal.
Longer-term, the market continues to react on the upside to the recent forecast weekly bottom of October 17 (+/-1 week). If the December S&P continues to remain firm, further long entry will be indicated in a update with the potential for substantially higher prices.