"THE SEVEN WEEK LOWS ARE KEY. A BREACH OF THOSE PRICES COULD SEE A FURTHER ACCELERATION TO THE DOWNSIDE. AS OF THIS WRITING, THE S&P FELL JUST SHORT OF THAT PRICE OBJECTIVE OF 1290.50."
I opened a position to the short side as soon as i got that info from the CME Floor by an insider as Top Notch.
The 10 min chart was looking like the following:
In the second daily update from the floor, Top Notch:
"The s&p bounced to a high of 1294.00 the first time from its current low of 1290.00. A second move found a low of 1290.20. However, when a high of 1296.00 was seen, it rejected any momentum upward as that opening range held safe. This future has since maintained a trade above its downside # price of 1293.50. A rotation under that price, followed by a 1293.00 offer, could spark a move to the lows and I now suspect stops could continue the demise, triggering a move to tests of 1286.80 and 1282.30."
This was clearly stating that at least the prices will touch the 1286 in today trading session.
At 15:15 EST prices were at the predicted levels and the trade end:
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