S&P 500 Index registered a low of 2757.12 – just about 3 points below the proprietary level of 2760 that we mentioned in our forecast published last night – before rising above that level (currently at 2769.11, as of 11:58am EDT).
Our models indicate this as potential low for the rest of the session. Intraday short selling to be done only on another break below 2760 on the index. Aggressive traders may consider going long on a break above 2780. Stay flat between these levels.
If you have been a regular reader, you would have noticed the high rate of accurate calls on the day’s low/high by our intraday models. For detailed trading plans based on your trading style (medium-term or intraday/aggressive/short-term), click here for our full forecast for MON 06/18.