Stocks are too high, yet still possible to go higher
S&P 500 should go higher & target 1840
Look to buy S&P 500 @ 1837 if it stays above & goes higher, for 30 minutes expiration
Risk: 1837 not a strong confirmed support yet & might drop later
Update:
The stock market is weaker than expected in the 1st 30 minutes, but S&P 500 still remains above 1837
Trading risk increased, small resistance @ 1838 getting stronger, avoid trading to be safer if it cannot go higher or trade at higher risk
Result: win
S&P 500 dropped to 1837 at 10am EST & went higher, even breaking above 1838 to expire @ 1838.89 at 10:30am EST
At first it looked weak, but our prediction was correct even though it wasn't confirmed yet as 1837 turned out to be the lowest & best buying point of the day
S&P 500 also went higher & reached target 1840 as expected, even broke above & closed @ 1842.02
Next target should be 1850 before end of the year 2013, but there's also possible profit taking near/after the end of the year
Look to buy S&P 500 below 1850 these few days if it continues to go higher
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