1. Our previous S&P forecast indicated that any hourly or larger close above $2055 would indicate a test/attempt at $2063/$64. The market attempted the advance on December 24 but was unable to close a 120 minute chart above $2055.
2. Subsequently, the March S&P declined and today’s Globex session closed the 120 minute above $2055 and completed the original forecast advance to $2063/$64 (today’s session high, $2069, so far). Due to the tricky behavior the market showed in completing this forecast, substantially higher prices remain possible for the current advance. Will update.