1. Today’s (Friday, October 30) 8:48 and 1:51 CST live messenger post (and Williams edge S&P meeting) it was noted that the December S&P was expected to decline to $2075 into mid day and test $2071 into Monday’s November 2 session.
2. This prompted new short entry at $2081/$80. Partial short position exit was taken at $2078. However, the market advanced and hit our $2083 protective stop, resulting in a near breakeven on the trade.
3. By mid day the S&P had advanced to new highs on the session at $2088.25. This was an unusual move according to the forecast. However, the market reversed lower and completed the $2075 downside target (somewhat later than expected) and Monday’s $2071 downside target, as well (session low, $2069.75). Will message any further entry or indication in the December S&P.