1. In today’s (Tues., Dec. 16) live meeting it was noted that the March S&P was getting above important levels ($1995) indicating the possibility of higher prices, including a test/attempt at $2017/$18.
2. The market moved higher, making a session high of $2011.25 before reversing. Our live messenger window indicated that any hourly close below $1992 would indicate further tradable decline to $1969/$68.
3. The following hour closed below $1992 (triggering new short entry) and the market continued lower to the forecast $1969/$68 downside target. This is an important development and further confirms the larger monthly top forecast for Dec. 2014 is in. Will message any further entry or indication in the March S&P.