V3Go Outlook on S&P 500 Futures: 1144-1147 may see resistance on the S&P
START: 2320hr:
Good Evening,
Using our V3Go System, it is getting clearer that we might see the first resistance on the S&P very soon and it should be around 1144~1147 range, using our V3Go TAOS method.
And if the S&P really cannot go past this range tonight then, we might see some profit taking soon. If the Index can stay above this range, then one should prepare for a huge jump towards 1169~1170 levels.
The potential downside is 1118~1120 range. So the upside is potentially, 25points while the downside is around 26points, quite even but since the S&P been up relatively for nearly 10days, I am not too keen to go too heavy on long side at this point. In fact, I am looking to take a small position on the short side soon as I think a correctional move is near.
As everyone know, I am still a BULL since March 2009, thus to me, every correction is a great time to bargain hunt while every rally is good time to unload long and take some of the long winnings to short small on the markets; what a Professional trader should do.
And I believe the timing is around the corner.
Lets see if I am proven right with my system, once again.
Cheers! Have a good night rest everyone!
Kelvin Han
aka Trend Master
Chief Trainer
Originator of V3Go System
END: 2340hr
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