Trading Strategy After Yesterday's Sell-Off

Yesterday, we saw S&P 500 reach its major support level once again after market sell-off. The good news is that the future is positive this morning and should bode well throughout the day.
The next direction for S&P500 index is to move higher towards its resistance level. I have a bad feeling that the next time S&P 500 reaches this major support at 1,040, we could see a major breakout below this level. If this were to happen, then there could be another big drop in the market, causing a double dip. My plan is not to hold on to any Long positions when S&P 500 breaks 1,040 level. For now, S&P 500 index should start moving higher and reach 1,100 - 1,110 range, marked by red rectangle box. Here are a few Long ideas to ride the wave back up to resistance level…


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