Archived S & P Reports

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The week in review - 3/25/02 - 3/28/02

The Tech Guru's S & P Day Trading Recommendations

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Monday 03-25-02 : NOTE: After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of value. Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.

Special instructions for using stops - All stops listed are for the day session only. Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount. NOTE: The first support area becomes the resistance after the market trades through the second support area listed. The first resistance area becomes the support after the market trades through the second resistance area listed.

Resistance: For the June contract

1151.50 intra-day channel and 1152, 1152.20 and 1152.80 peaks (major area) / 1153.50 day channel (major) / 1155.50 intra-day and 1156 minor day channels (very major area) / 1159 top (major) / 1164 peak and 1165.50 day top and 1167.20 to 1168.50 exhaustion gap (major area) / 1172 long-term primary day channel and 1173.50 newly developed primary weekly channel (very major area) / 1174.20 day gap and 1175.20 GBX top and 1175 day channel (major area) / 1177 weekly top and 1178.50 weekly chart's top (very major area) / 1181 June contract's top (major) / 1187.20 weekly close and 1189.50 weekly top and 1190 daily upper channel (major area).

Support: For the June contract

1148.50 day channel and base and 1147 bottom (major) / 1146 minor channel (significant) / 1143 minor channel and 1141.50 bottom (very major area) / 1134.80 closing price and 1134 bottom and 1132.50 weekly close on the weekly chart (very major area) / 1130 minor weekly channel and day bottom (very major area) / 1127 rev. peak and 1125.50 weekly rev. peak (major area) / 1113 bottom to 1109 gap also 1110.50 bottom to 1106.90 gap on the monthly chart (very major) / 1103.50 primary weekly channel (very major area).

Comments:

Friday's trading range remained inside the neutral area but close at the low end of that range leaving the chart neutral to bearish. Rallies up to the 1172 - 1173.50 major resistance area are still possible but should be considered a selling area. Only a trade above the 1177 - 1181 top areas can possibly reverse the top formation into a base. A trade above 1190 will confirm the uptrend intact for higher prices. A trade below 1141.50 is bearish but a trade below 1130 will bring the downtrend back into play. A trade below 1103.50 will confirm the major long-term downtrend intact for prices to possibly reach below 1000 again. Traders should still remain defensive in this neutral and top building mode.

Day trades: For the June contract -

Aggressive traders can sell rallies near 1152.50 - 1155 area or buy dips near 1149 - 1148, whichever side comes first, to complete the trade. (Use a buy stop and rev. long at 1160.70). (Use a sell stop and rev. short at 1141). (Conservative traders can use a protective sell stop at 1145. Do not rev. short)

Aggressive traders can attempt short positions near 1168 - 1171.50 area for obj. near 1163 - 1161 area. (Use a protective buy stop at 1185. Do not rev. long).

Aggressive traders can attempt short positions near 1177 - 1181 area for obj. near 1170 - 1167 area. (Use a protective buy stop at 1185. Do not rev. long).

Buy stop at 1160.70 for obj. near 1164 - 1165.50 top area and possibly near 1167 - 1168.50 area.

Buy stop at 1193.20 for obj. near 1198 - 1201 area.

Buy stop at 1204.50 for obj. near 1208 - 1210 area.

Sell stop at 1141 for obj. near 1136 - 1132.50 area and possibly near 1130.

Sell stop at 1122 for obj. near 1113 - 1109 area and possibly near 1106.90 gap area.

Long-term short positions can now use a protective buy stop at 1193.20.

* There is a substantial risk of loss in trading futures and options. These recommendations cannot guarantee a profit. Placing contingent orders such as "Stop Loss" or "Stop Limit" orders will not necessarily limit your losses to the intended amounts, since market conditions may make it impossible to execute such orders.

Bulletin - Originally sent 3/25/02 (10:13 am est)

Traders have been calling asking about the first aggressive trade written today. Me comments to them have been when the market opened, traders should have sold the 1152.50 area. As the market proceeded down near the 1149 area, traders should have responded and took profits when the E-mini reached 1149.50. We've seen rallies up near the 1151.50 area again, which could have cost the traders their profits if it were to have continued to the upside. Even though the market now reached the 1149 area again, the trade should have been completed the first time down.

I would like all my subscribers to understand that when they have a profit in a trade, don't hesitate to take it. For example: Even if the low would have been 1149.75, you still should have considered exiting the short position for the profit. Anyone wishing to speak to me during the day with questions when there is uncertainties, they can call any time at (540) 843-4878.

Roger Knizewski (T.G.)

Bulletin - Originally sent 3/25/02 (12:58 pm est)

The market hit the 1141 sell stop today. At this time, the chart formation is developing a support that can possibly produce some rallies. It is recommended for all short positions to exit the trade and cut losses. The potential for the market to return to 1149 is too much money to risk and wait for a possible sell-off.

thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Tuesday 03-26-02 : NOTE: After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of value. Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.

Resistance: For the June contract

1138 intra-day channel and intra-day gap and 1140.50 intra-day channel (major area) / 1145 double peak and 1146 GBX channel and 1147 day channel (major area) / 1149.60 weekly close and 1150.50 GBX channel (major area) / 1152.50 minor day channel and 1153.10 top (major area) / 1159 top (very major area) / 1164 peak and 1165.50 day top (major area) / 1167.20 to 1168.50 exhaustion gap and 1170.50 long-term primary day channel (very major area) / 1173.50 primary weekly channel and 1174.20 day gap and 1174.50 day channel (very major area) / 1177 top on day chart and 1178.50 top on weekly chart (very major area) / 1181 June contract's top (major).

Support: For the June contract

1135.50 newly developed day channel (significant) / 1133 bottom and 1132.50 weekly close on the weekly chart (major area) / 1130 minor weekly channel and day bottom also 1129 minor down channel (very major area) / 1127 rev. peak and 1125.50 weekly chart's rev. peak (major area) / 1113 bottom to 1109 gap also 1110.50 bottom to 1106.90 gap and monthly close on the monthly chart (very major area) / 1103.50 primary weekly channel and 1102 primary day channel (very major area) / 1098.50 bottom to 1093.70 gap and weekly close (major area) / 1181.50 long-term minor channel (very major area).

Comments:

The sell-off on Monday put the chart in bearish territory but brought prices down near the very critical support area of 1130. A trade below 1130 will remove the market from the neutral top formation and bring the downtrend back into play. A trade below 1103.50 - 1102 area will confirm the major long-term downtrend intact for prices to possibly reach below 1000 again. Only a trade above 1159 can bring any bullishness back to the chart and only a trade above the 1181 top area will be considered a breakout for higher prices. Remain bearish until the market can prove otherwise.

Day trades: For the June contract -

Aggressive traders can sell rallies near 1138.50 - 1140.50 for obj. near 1133 - 1129 area. NOTE: If rallies continue before this trade is complete, then follow the next aggressive trade and exit both short positions at the obj. or stop listed in that trade.

Aggressive traders can sell rallies near 1145 - 1147 area for obj. near 1141 - 1140 area. (Use a buy stop and rev. long at 1154.20).

Aggressive traders can sell rallies near 1157 - 1159 top area for obj. near 1153 and possibly near 1151 area. (Use a buy stop and rev. long at 1161.50).

Very aggressive traders can attempt long positions near 1130 - 1127 area for obj. near 1138 - 1140 area. (Use a sell stop and rev. short at 1122).

Buy stop at 1154.20 for obj. near 1157 - 1159 top area.

Buy stop at 1161.50 for obj. near 1164 - 1165.50 area and possibly near 1167.

Sell stop at 1122 for obj. near 1113 - 1109 area and possibly near 1106.90 gap area.

Sell stop at 1100 for obj. near 1095 - 1093.70 gap area.

Long-term short positions can continue to use a protective buy stop pat 1193.20.

thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Wednesday 03-27-02 : NOTE: After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of value. Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.

Resistance:

1143.50 and 1144.50 intra-day channels (major area) / 1146.50 GBX channel (major) / 1149.30 top and 1149.50 minor day channel (very major area) / 1153.10 top (major) / 1159 top (very major area) / 1165.50 day top (major) / 1167.20 to 1168.50 exhaustion gap and 1169 long-term primary day channel (very major area) / 1173.50 primary weekly channel and 1174 day channel and 1174.20 day gap (very major area) / 1177 top on day chart and 1178.50 top on weekly chart (very major area) / 1181 June contract's top (major) / 1187.20 weekly close, 1189.50 weekly top and 1190.50 upper channel (major area).

Support:

1141 and 1140 intra-day channels (significant) / 1137 base,1136.80 day channel and 1135 minor channel (very major area) / 1134 and 1133 bottoms (major area) / 1130 minor weekly channel and bottom (very major area) / 1127 rev. peak and 1125.50 weekly chart's rev. peak (major area) / 1113 day bottom to 1109 gap also 1110.50 bottom to 1106.90 monthly close and gap on the monthly chart (very major area) / 1103.50 primary weekly channel and 1103 primary day channel (very major area) / 1098 bottom to 1093.70 gap and weekly close (major area).

Comments:

After the whiplashing seen to both sides in Tuesday's session, the market settled in the middle of the 1149.50 - 1135 neutral range. A trade above 1149.50 is slightly bullish but a trade above 1159 can bring prices up to challenge the 1169 major channel and 1177 - 1181 top areas again. A trade below 1135 is slightly bearish but a trade below 1130 - 1126 area can possibly bring prices down to challenge the 1103.50 major support. A trade below 1103.50 and 1093.70 area will confirm the major downtrend intact. Remain very defensive in this neutral area. Prices can still swing to both sides of the 1169 - 1130 major trading range without pointing a solid direction.

Day trades: For the June contract -

Aggressive traders can buy dips near 1138 - 1136 area or sell rallies near 1143 - 1146 area, whichever side comes first, to complete the trade. (Use a sell stop and rev. short at 1134.50). (Use a buy stop and rev. long at 1153.70). NOTE: If rallies continue before this trade is complete then follow the next aggressive trade and exit both short positions together at the obj. or stop listed in that trade.

Aggressive traders can sell rallies near 1148 - 1149.50 area for obj. near 1143 and possibly near 1141 area. (Use a buy stop and rev. long at 1153.70).

Aggressive traders can buy near 1130 - 1127 area for obj. near 1135 - 1137 area. (Use a sell stop and rev. short at 1122).

Buy stop at 1153.70 for obj. near 1157.50 - 1159 area.

Buy stop at 1161 for obj. near 1164 and possibly near 1165.50 - 1167 area.

Sell stop at 1134.50 for obj. near 1132.50 - 1130 area and possibly near 1127.

Sell stop at 1122 for obj. near 1115 - 1113 area and possibly near 1110.50 - 1109 gap area.

Long-term short positions can continue to use a protective buy stop at 1193.20.

Results: 3/27/02

Bought @ 1138 Sold @ 1145 = + $1,750.00

TOTAL (P & L) + $1,750.00

thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Thursday 03-28-02 : NOTE: After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of value. Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.

Resistance:

1146.30 and 1147.50 day channel and 1147.80 peaks (major area) / 1148.80 major peak and 1149.50 top (major area) / 1153.10 day top (major) / 1159 top (very major area) / 1164 peak and 1165.50 day top (major) / 1167.20 to 1168.50 exhaustion gap and also 1167.80 long-term primary day channel (very major area) / 1173.50 primary weekly channel and primary day channel also 1174.20 day gap (very major area) / 1177 top on the daily chart and 1178.50 top on the weekly chart (very major area) / 1181 June contract's top (major area) / 1187.20 weekly close, 1189.50 weekly top and 1191 upper channel (major area).

Support:

1144 base and 1143.20 intra-day channel (major area) / 1141.50 base (major) / 1139.50 major day channel (very major area) / 1137 bottom and 1136.20 minor channel (major area) / 1134 and 1133 bottoms and 1132.50 monthly close on the daily chart (major area) / 1130.40 monthly chart's close and 1130 minor weekly channel and bottom (very major area) / 1127 rev. peak and 1125.50 weekly chart's rev. peak (major area) / 1113 day bottom to 1109 closing gap also 1110.50 bottom to 1106.90 monthly close and gap found on the monthly chart (very major area) / 1104 primary day channel and 1103.50 primary weekly channel (very major area) / 1098 bottom to 1093.70 gap and weekly close (major area).

Comments:

The whiplashing in Wednesday's session was expected leaving the market in a very neutral and narrow range between 1147.50 and 1139.50. Since Thursday's session is the last day of the week and also the last day of the month, the closing price today can prove to be a fairly good indication for next week's direction. A close on Thursday above 1159 will leave the chart in slightly bullish territory for next week. A close above 1177 will leave the chart in solid bullish territory for next week. A close below 1149 will leave the chart neutral to bearish for next week. A close below 1130 will leave the chart in solid bearish territory for next week. The market can still swing either way. Remain very defensive in this neutral and indecisive area.

Day trades: For the June contract -

Very aggressive traders can sell rallies near 1145.50 - 1147.50 area or buy dips near 1144 - 1141.50 area, whichever side comes first to complete the trade. NOTE: This trade, having only a 1 1/2 to 6 point profit value, should materialize within the first 10 to 20 minutes of the opening in the day session. If the market opens the day session outside of this trade range, then cancel this trade. (Use a buy stop and rev. long at 1150.20). (Use a sell top and rev. short at 1138.80).

Aggressive traders can attempt short positions near the 1158 - 1159 resistance for obj. near 1155 - 1153 area. (Use a buy stop and rev. long at 1160.50).

Aggressive traders can attempt short positions near the 1167.80 area and if possible near 1173.50 area. Look to take 3 to 6 points profit on this trade. (Use a protective buy stop at 1175.70. Do not rev. long).

Buy stop at 1150.20 for obj. near 1152.70 - 1153.10 top area and possibly near 1155 - 1156 area.

Buy stop at 1160.50 for obj. near 1164 - 1165.50 area and possibly near 1167 - 1168 area.

Sell stop at 1138.80 for obj. near 1136.50 and possibly near 1135.50 - 1135 area.

Sell stop at 1132 for obj. near 1130 and possibly near 1127.

Sell stop at 1122 for obj. near 1115 - 1113 area and possibly near 1110.50 - 1109 gap area.

Long-term short positions can use a protective buy stop at 1193.20. NOTE: If the market looks like it will close above the 1177 area today, then exit all short positions and wait for the next signal.

thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Monday 04-01-02 : NOTE: After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of value. Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.

Resistance:

1151 day channel (major) / 1154.50 and 1155.50 minor channels (very major area) / 1156.80 top and 1159 to (major area) / 1165 long-term primary day channel (very major area) / 1167.20 to 1168.50 exhaustion gap (major area) / 1169.50 primary weekly channel (very major area) / 1172 and 1175 minor weekly channels and 1174.20 day gap (major area) / 1177 top and 1178.50 weekly top (very major area) / 1181 June contract's top (major area) / 1187.20 weekly close and 1189.50 weekly top and 1191.50 upper channel (major area).

Support:

1144.50 day channel (major) / 1143 weekly channel and 1141.50 intra-day base (very major area) / 1139.50 minor weekly channel and 1137 bottom (major area) / 1133 and 1130 weekly bottoms (very major area) / 1125.50 weekly chart's rev. peak (major) / 1113 bottom to 1109 gap also 1110.50 monthly bottom to 1106.90 monthly gap and closing price also 1110 primary weekly channel and 1106.50 primary day channel (very major area) / 1098 bottom to 1093.70 gap and weekly close (major area).

Comments:

The closing price on Friday at 1149.20 was the exact closing price on Dec. 31st on the monthly chart, which is considered a double top close and technically neutral to bearish. The monthly close on the June contract for Dec. 31 was 1151.40, which also adds to the technical bearishness concerning the end of the month close. Keep in mind the market can still swing to both sides of the 1169 - 1110 neutral weekly trading range without proving a direction and remain in the top building construction mode. Only a trade above 1181 - 1191.50 area can be considered a breakout for higher prices. Only a trade below the 1110 - 1106.90 area can confirm the downtrend intact for lower prices. Overall the market remains neutral to bearish. Rallies should still be considered a selling opportunity.

Day trades: For the June contract

Aggressive traders can sell rallies near 1149 - 1151 area or buy dips near 1143 - 1139.50 area, whichever side comes first, to complete the trade. (Use a buy stop and rev. long at 1152). (Use a sell stop and rev. short at 1138).

Aggressive traders can consider short positions near 1169 - 1172 area, if it gets there, for obj. near 1165 - 1161 area. Short positions can be attempted near 1177 - 1178.50 area also. (Use a protective buy stop at 1185. Do not rev. long).

Buy stop at 1152 for obj. near 1154 - 1155.50 area.

Buy stop at 1160 for obj. near 1164 - 1165 area and possibly near 1167 - 1169 area.

Buy stop at 1193.20 for obj. near 1198 - 1201 area.

Sell stop at 1138 for obj. near 1133 - 1130 area.

Sell stop at 1128.50 for obj. near 1125.50 area.

Sell stop at 1122 for obj. near 1115 - 1113 area and possibly near 1110.

Long-term short positions can continue to use a protective buy stop at 1193.20.

Results: 4/01/02

Bought @ 1140.50 Sold @ 1138 = - $ 625.00

Sold @ 1138 Bought @ 1134.50 = + $ 875.00

TOTAL (P & L) + $ 250.00

thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Tuesday 04-02-02 : NOTE: After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of value. Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.

Resistance:

1146 newly developed day channel and 1148.50 channel (major area) / 1153 and 1155 minor channels (very major area) / 1156.80 top and 1159 day top (major area) / 1164 long-term primary day channel (very major area) / 1167.20 to 1168.50 exhaustion gap (major area) / 1172 minor weekly channel and secondary day channel (very major area) / 1174.20 gap and 1174.50 day channel (major area) / 1177 top and 1178.50 weekly top on the weekly chart (very major area) / 1181 June contract's top (major area).

Support:

1142.30 base (significant) / 1139.90 rev. intra-day peak and 1139.10 base (major area) / 1136.50 newly developed day channel (very major) / 1134.20 and 1133 bottoms (major area) / 1130 bottom on the weekly chart (very major area) / 1125.50 weekly chart's rev. peak (major) / 1113 bottom to 1109 gap also 1110.50 monthly bottom to 1106.90 monthly gap and closing price, also 1110 primary weekly channel and 1107.50 primary day channel (very major area) / 1098 bottom to 1093.70 gap and weekly close (major area).

Comments:

Monday's trading range remained inside the neutral area keeping the chart defensive for swings to either side. A trade above 1148.50 is slightly bullish but a trade above 1153 - 1155 area can bring prices up to challenge the 1164 primary channel and possibly 1172 channel area also, which can still be considered a selling area if it gets there. Only a trade above the 1181 top area and also 1191.50 channel and prove a new uptrend in play. A trade below 1136.50 today is bearish but only a trade below the 1110 primary channel can prove the downtrend is back into play. Remain defensive inside this neutral area, using rallies as a selling opportunity.

Day trades: For the June contract -

Aggressive traders can sell rallies near 1146 - 1148.50 area or buy dips near 1140 - 1137.50 area, whichever side comes first, to complete the trade. (Use a buy stop and rev. long at 1151). (Use a sell stop and rev. short at 1136).

Aggressive traders can consider short positions near 1163 - 1164 area for obj. near 1159 - 1157 area. (Use a protective buy stop at 1166. Do not rev. long).

Aggressive traders can consider short positions near 1170 - 1172 area and if possible near 1175 for obj. near 1166 - 1164 area. (Use a protective buy stop at 1185. Do not rev. long).

Buy stop at 1151 for obj.. near 1153 - 1155 area.

Buy stop at 1159.70 for obj. near 1163 - 1164 area.

Sell stop at 1136 for obj. near 1134.50 - 1132.50 area.

Sell stop at 1128.50 for obj. near 1125.50 area.

Sell stop at 1122 for obj. near 1115 - 1113 area and possibly near 1110.

Long-term short positions can continue to use a protective buy stop at 1193.20.

Results: 4/02/02

Bought @ 1138 Sold @ 1138 = $ -0-

TOTAL (P & L) $ -0-

thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Wednesday 04-03-02 : NOTE: After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of value. Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.

Resistance:

1138.50 rev. channel also 1139.20, 1140 and 1140.60 intra-day channel (major area) / 1141.30 and 1142 peaks also 1142 day channel and 1143.20 day top (major area) / 1144.50 gap, 1145 and 1146 minor day channels (major area) / 1149.90 day top and 1151 minor channel (very major area) / 1154.50 minor channel and 1156.80 day top (major area) / 1159 day top and 1162.50 long-term primary day channel (very major area) / 1165.50 day top and 1167.20 to 1168.50 exhaustion gap (major area) / 1171.50 secondary day channel and 1172 minor weekly channel (very major area) / 1174.20 gap and day channel (major area) / 1177 top and 1178.50 weekly top (very major area) / 1181 June contract's top (major area) / 1191.70 upper channel (very major).

Support:

1134.70 minor channel and 1134.20 day bottom and 1133 weekly bottom (major area) / 1130 weekly bottom (very major area) / 1125.50 weekly chart's rev. peak (major) / 1113 bottom to the 1109 gap also 1110.50 monthly bottom to 1106.90 monthly gap and closing price, also 1110 primary weekly channel and 1109 primary day channel (very major area) / 1098 bottom to 1093.70 gap and weekly close (major area).

Comments:

The performance of Tuesday's trading session and close put additional bearishness into the neutral to bearish condition already set. A trade above 1146 will put the chart back into neutral condition and only a trade above 1151 can bring some bullishness to the chart. Rallies up near the 1159 top area and 1162.50 primary channel should be considered a major selling area as well as the 1170 - 1171.50 primary channel area. Only a trade above the 1181 - 1191.70 area can possibly reverse the major trend up. A trade below the 1134.70 channel area is slightly bearish but a trade below the 1130 weekly bottom will be considered a solid sell signal. A trade below the 1110 weekly channel will confirm the major downtrend intact for much lower prices to follow. Remain defensively bearish until the market can prove otherwise.

Day trades: For the June contract -

Aggressive traders can sell rallies near 1139 - 1141.50 area for obj. near 1135.50 - 1134.50 area. NOTE: If rallies continue before this trade is complete, then follow the next aggressive trade and exit both short positions together at the obj. or stop mentioned in that trade.

Aggressive traders can sell rallies near 1144.50 - 1146 area for obj. near 1139 and possibly near 1137 area. (Use a protective buy stop at 1147. Do not rev. long).

Aggressive traders can sell rallies near 1149 - 1151 area for obj. near 1144 and possibly near 1142 area. (Use a buy stop and rev. long at 1152).

Aggressive traders can consider short positions near 1159 - 1162.50 area, if it gets there, for obj. near 1155 - 1153.50 area. (Use a protective buy stop at 1164. Do not rev. long).

Buy stop at 1152 for obj. near 1154.50 - 1156 area.

Buy stop at 1157 for obj. near 1159 - 1162.50 area.

Sell stop at 1136 for obj. near 1134.50 - 1133 area and possibly near 1132.50.

Sell stop at 1128.50 for obj. near 1125.50 area.

Sell stop at 1122 for obj. near 1115 - 1113 area and possibly near 1110.

Long-term short positions can continue to use a protective buy stop at 1193.20.

Bulletin - (Originally sent 4/03/02 11:39 am est)

The 1128.50 sell stop was hit today for an obj. near 1125.50. At this time the market seems to be proving support at the 1128 area and likely using the 1127 rev. peak, found on the daily chart, as a possible means of support. It is recommended for short positions to exit the trade at the 1130.50 area and cut losses. The market has the potential of working higher.

Rallies near the 1137 - 1138 area can be sold using a protective buy stop at 1142.70. Look to take 3 to 5 points profits on this new short position. All other trade recommendations from today's report will remain intact for the rest of the day.

Results: 4/03/02

Sold @ 1140 Bought @ 1135 = + $1,250.00

Sold @ 1136 Bought @ 1134 = + $ 500.00

Sold @ 1128.50 Bought @ 1130.50 = - $ 500.00

Sold @ 1122 Bought @ 1130.30 = - $2,075.00

TOTAL (P & L) - ($ 825.00)

thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Thursday 04-04-02 : NOTE: After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of value. Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.

Resistance:

1132.80 peak and 1134 intra-day channel (major area) / 1136.50 and 1138.50 minor channels (major area) / 1142 and 1143.50 day channels (major area) / 1149.90 top and 1150 minor channel (very major area) / 1156.80 weekly top (major) / 1159 top and 1161 long-term primary day channel (very major area) / 1165.50 top and 1167.20 to 1168.50 exhaustion gap (major area) / 1171 secondary day channel and 1172 minor weekly channel (very major area) / 1174.20 gap and day channel (major area) / 1177 top and 1178.50 weekly top (very major area).

Support:

1127.50 intra-day channel (significant) / 1124.50 intra-day channel and 1123.50 base (major area) / 1122 newly developed day channel and 1120.80 bottom (very major area) / 1113 bottom to the 1109 gap also 1110.50 monthly bottom to 1106.90 monthly gap and close also 1110 primary weekly channel and 1110 primary day channel (very major area) / 1098 bottom to 1093.70 gap and weekly close (major area).

Comments:

The sell-off on Wednesday from the resistance proved the bearishness of the chart condition but surprisingly the market held support just below the rev. peak area stimulating an end-of-day rally. This rally removes the chart out of bearish condition leaving it neutral. A trade above the 1142 - 1143.50 area is slightly bullish but a trade above 1150 can bring prices up to possibly challenge the 1161 and 1172 major areas. A trade below 1123.50 will put the chart in bearish territory, but a trade below 1122 - 1120.80 bottom will be a sell signal that can bring prices down to challenge the 1110 major support. A trade below 1110 will confirm the major downtrend for much lower prices to follow. Whiplashing to both sides are expected. Remain defensively bearish until the market can prove otherwise.

Day trades: For the June contract -

Aggressive traders can buy dips near 1126 - 1123.50 area or sell rallies near 1132 - 1136 area, whichever side comes first to complete the trade. (Use a sell stop and rev. short at 1119). (Use a protective buy stop at 1139.20. Do not rev. long).

Aggressive traders can sell rallies near 1141.50 - 1143.50 area for obj. near 1137 - 1135.50 area. (Use a buy stop and rev. long at 1144.20).

Aggressive traders can sell rallies near 1148.50 - 1150 area for obj. near 1144.50 and possibly near 1143. (Use a buy stop and rev. long at 1151.70).

Buy stop at 1144.20 for obj. near 1148.50 - 1150 area.

Buy stop at 1151.70 for obj. near 1155 - 1157 area and possibly near 1159 - 1161 area.

Aggressive traders can consider short positions near 1159 - 1161 for obj. near 1154 - 1152 area and possibly near 1150. (Use a protective buy stop at 1164. Do not rev. long).

Sell stop at 1119 for obj. near 1115 - 1113 area and possibly near 1111 - 1110 area.

Sell stop at 1104 for obj. near 1098 - 1093 gap area.

Long-term short positions can continue to use a protective buy stop at 1193.20.

Bulletin - (Originally sent 4/04/02 9:58 am est)

The buy signal was hit today putting traders long near the 1123.50 level. The rally seen now at 1129 area should be considered a profitable trade. Conservative traders can exit and take profits. It is still possible for the market to continue higher, but should be considered a sell near the 1134 - 1136 area.

Results: 4/04/02

Bought @ 1123.50 Sold @ 1129 = + $1,375.00

Bulletin

Sold @ 1132 Bought @ 1124 = + $2,000.00

TOTAL (P & L) + $3,375.00

thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Friday 04-05-02 : NOTE: After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of value. Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.

Resistance:

1128 intra-day channel and 1128.50 peak (major) / 1130 peak (significant) / 1132 day channel and 1132.70 day top and 1133.50 GBX minor channel (major area) / 1135 minor channel (major) / 1139 and 1140.50 day channels also 1140.80 day top (major area) / 1144.50 gap (major) / 1148.50 minor channel and 1149.90 top (very major area) / 1156.80 weekly top (major) / 1159 top and 1160 long-term primary day channel (very major area) / 1165.50 top and 1167.20 to 1168.50 exhaustion gap (major area) / 1169.50 primary weekly channel and 1170.50 day channel also 1172 minor weekly channel (very major area).

Support:

1123 newly developed day channel, 1122.80 intra-day base and 1122 minor channel (very major area) / 1121.20 and 1120.80 bottoms (major) / 1113 bottom to the 1109 gap also 1110.50 monthly bottom to 1106.90 monthly gap and close also 1111 primary day channel and 1110 primary weekly channel (very major area) / 1098 bottom to 1093.70 gap and weekly close (major area) / 1083 minor long-term day channel and 1081 minor weekly channel (very major area) / 1076.50 daily chart double bottom (very major).

Comments:

The whiplashing seen in Thursday's session proved the neutrality of the area as expected. The market closed down for the fourth day in a row after the 1149.20 monthly close leaving the chart in neutral to bearish territory. Only a trade and close above the 1139 - 1140.50 area on Friday can bring any bullishness back to the chart. A trade above 1148.50 - 1149.90 area can bring prices up to test the 1160 primary channel and possibly the 1169 - 1172 channel area. A trade below 1123 - 1122 channel support area is bearish and can bring prices down to test the 1110 major support area. A trade below 1110 will confirm the major downtrend intact. NOTE: A close on Friday below 1130 will leave the weekly chart neutral to bearish. A close on Friday below 1116 will leave the weekly chart in solid bearish territory for lower prices to develop next week. Remain bearish until the market can prove otherwise.

Day trades: For the June contract -

Aggressive traders can sell rallies near 1128 - 1132 area and if possible near 1135 for obj. near 1124 - 1122 area. (Use a buy stop and rev. long at 1143.70).

Aggressive traders can attempt short positions near 1147 - 1149 area for obj. near 1144 - 1143 area. (Use a buy stop and rev. long at 1151.70).

Buy stop at 1143.70 for obj. near 1147 - 1149 area.

Buy stop at 1151.70 for obj. near 1155 and possibly near 1157 - 1160 area. NOTE: Short positions can be seriously considered again at the 1157 - 1160 area for 4 to 6 points profit.

Buy stop at 1162.50 for obj. near 1165.50 - 1167.20 area and possibly near 1169.

Sell stop at 1119 for obj. near 1115 - 1113 area and possibly near 1110.

Sell stop at 1108 for obj. near 1106 to 1104 area.

Sell stop at 1102 for obj. near 1098 - 1093.70 gap area.

Sell stop at 1089 for obj. near 1083 - 1081 area.

Long-term short positions can continue to use a protective buy stop at 1193.20.

Bulletin - (Originally sent 4/05/02 11:28 am est)

The market sold-off near the support area. It is recommended for traders to consider taking profits at the 1126.50 area. The possibility for rallies still remain. Only a trade below 1122 - 1120.80 bottom area will confirm lower prices.

Results: 4/05/02

Sold @ 1133 Sold @ 1123 = + $2,500.00

Total (P & L) + $2,500.00

The week in review - 4/08/02 - 4/12/02

The Tech Guru's S & P Day Trading Recommendations

thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Monday 04-08-02 : NOTE: After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of value. Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.

Special instructions for using stops - All stops listed are for the day session only. Where stops ARE NOT mentioned, they should be placed below the second supp