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Archived S & P Daily Reports THERE IS RISK OF LOSS IN ALL TRADING. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. ALL RESULTS ARE HYPOTHETICAL. THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.
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or call (540) 843-GURU (4878)
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.
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.
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.
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
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.
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.
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:
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
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.
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:
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.
Results: 3/28/02
The
week in review - 4/01/02 -
4/05/02
The Tech Guru's S & P Day
Trading Recommendations
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.
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:
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
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.
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:
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.
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.
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:
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
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.
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:
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
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.
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:
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
The
week in review - 4/08/02
- 4/12/02
The
Tech Guru's S & P Day Trading
Recommendations
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 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:
1127.20 peak and 1127.50 intra-day channel (major)
/ 1129.30 double peak (major)
/ 1131 day channel and
1133 weekly channel (very
major area) / 1136 GBX channel
and 1138 day channel (major area)
/ 1140.80 day top and 1142.50 minor weekly
channel (major area) / 1147.50
minor channel and 1149.20 monthly close and
1149.90 weekly top (very
major area) / 1156.80
weekly top and 1158.50 long-term primary day
channel (very
major area) / 1165
long-term primary weekly channel (very
major area) / 1167.20 to
1168.50 exhaustion gap and 1170 day channel (very
major area).
Support:
1123.80 intra-day channel and 1123 base
(significance) / 1122
newly developed day channel and 1120.60 weekly
bottom (very
major area) / 1116.50
primary weekly channel (very
major area) / 1113
bottom to the 1109 end of month gap also
1112.50 primary day channel (very
major area) / 1110.50
monthly bottom to 1106.90 monthly gap and
close (very
major area) / 1098 bottom to
1093.70 gap and weekly close (major
area) / 1086
weekly bottom and 1083 minor weekly channel
and minor long-term day channel (very
major area) / 1176.50 double
bottom and 1173.80 weekly major bottom (very
major area).
Comments:
The sell-off from Friday's
resistance and the close on Friday put the
chart in neutral to bearish territory. A
trade above 1133 is slightly bullish but a
trade above the 1142.50 - 1147.50 area can
bring prices up to challenge the 1165 primary
resistance area. Only a trade above 1170
can possibly reverse the major trend to the up
side, which technically seems unlikely at this
time. A trade below 1122 is bearish but
a trade below the 1116.50 weekly channel can
bring the major downtrend back into play.
A trade below the 1109 and 1106.90 monthly gap
areas will confirm much lower prices to
follow. As mentioned in Friday's report,
remain bearish until the market can prove
otherwise.
Day
trades: For the June contract -
Aggressive traders can sell
rallies near 1127 - 1132 area for obj. near
1123 - 1122 area. (Use a protective buy
stop at 1139.50. Do not rev. long).
Buy stop at 1143 for obj.
near 1147 and possibly near 1149 area.
Buy stop at 1153.50 for obj.
near 1159 - 1165 area, where short positions
can be considered again.
Sell stop at 1119 for obj.
near 1115 - 1113 area and possibly near
1112.50 - 1110.50 area.
Sell stop at 1103 for obj.
near 1098 - 1093.70 gap area.
Sell stop at 1090.50 for obj.
near 1086 - 1083 area and possibly near 1081.
NOTE: If
the market opens below the 1122 - 1120.60
support area, then rallies up to the 1120.60 -
1122 area will be considered a selling area
for obj. back down to the 1115 - 1113 area.
(Use a protective buy stop at 1134.50.
Do not rev. long).
Long-term short positions can
now use a protective buy stop at 1185.
Results: 4/08/02
A
TECHNICAL GUIDE FOR DAY TRADING THE S
& P
S
& P - For Tuesday 04-09-02 :
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:
1128 intra-day channel and 1128.80 top
(significant area) / 1133
GBX channel and 1133 weekly channel (very
major area) / 1135 day channel
and 1135 top (major area) /
1140.80 day top (major) / 1142.50
minor weekly channel (very
major area) / 1144.50 gap and
1146 minor day channel (major area)
/ 1149.20 monthly close and 1149.90 weekly top
and 1152.50 minor channel (major area)
/ 1156.80 weekly top and
1157 long-term primary day channel (very
major area) / 1165
long-term primary weekly channel (very
major area) / 1167.20 to
1168.50 exhaustion gap and 1169.50 day channel
(major area) / 1173.50 minor
weekly channel and 1174.20 day gap (major
area) / 1177 weekly top and 1178.50
top on the weekly chart (very major
area).
Support:
1124.50 intra-day channel and 1123 base (major
area) / 1120 rev. peak and 1119.50 to
1116.70 intra-day congestion (major
area) / 1114.80 and 1114.20 base (major
area) / 1112
newly developed primary day channel, 1111
bottom, 1110.50 monthly bottom to 1106.90
monthly gap and close also 1109 day gap from
June contract's monthly close (very
major area) / 1104 and 1103
day bottoms (major) / 1098
weekly bottom to 1093.70 weekly gap (major
area) / 1083.30
minor long-term day channel and 1083 minor
weekly channel (very
major area) / 1176.50 double
bottom and 1173.80 weekly major bottom (very
major area).
Comments:
The rally seen on Monday
from a major support area and also managed to
close the market up on the day put the chart
back into neutral territory and setting up
possible whiplashing to both sides. A
trade above the 1133 - 1135 resistance is
slightly bullish but a trade above the 1142.50
area can possibly bring prices up to challenge
the 1157 and 1165 major resistance area again.
A trade below 1112 is bearish but a trade below
the 1106.90 monthly gap area can trigger
selling for prices to move down below the 1100
area again. The technical neutral
condition can stimulate rallies and sell-off's
to both sides. Remain very defensive in
today's session.
Day
trades: For the June contract -
Aggressive traders can sell
rallies near 1128 - 1133 area or buy dips near
1124.50 - 1123 area, whichever side comes
first to complete the trade. (Use a buy
stop and rev. long at 1136.70). (Use a
sell stop and rev. short at 1122).
Aggressive traders can attempt long
positions near 1118.50 - 1116.70 area
for obj. near 1123 and possibly near 1125.
(Use a sell stop and rev. short at 1110.90).
Aggressive traders can attempt short
positions near 1139.50 - 1142 area
for obj. near 1136 - 1134 area. (Use a
buy stop and rev. long at 1147.50).
Buy stop at 1136.70 for obj.
near 1139.50 - 1142 area.
Buy stop at 1147.50 for obj.
near 1149.50 - 1152.50 area.
Sell stop at 1122 for obj.
near 1120 - 1118.50 area and possibly near
1116.70.
Sell stop at 1110.90 for obj.
near 1109 to 1106.90 gap area.
Sell stop at 1102.70 for obj.
near 1098 - 1093.70 gap area.
Long-term short positions can
continue to use a protective buy stop at 1185.
Results: 4/09/02
A
TECHNICAL GUIDE FOR DAY TRADING THE S
& P
S
& P - For Wednesday 04-10-02 :
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:
1123.50 and 124.50 intra-day channels (major)
/ 1125.20 and 1126.30 peaks also 1126.50 day
channel (major area) / 1128
GBX channel also 1130 day top and 1130 minor
GBX channel (major area) / 1132
day channel and 1133 weekly channel (very
major area) / 1135 day top (major)
/ 1140.80 day top (major) / 1142.50
minor weekly channel and 1144.50 minor channel
and gap area (very
major area) / 1149.20 monthly
close and 1149.90 weekly top and 1152 minor
channel (major area) / 1156
long-term primary day channel and 1156.80
weekly top (very
major area) / 1159 day top (major)
/ 1165 long-term primary
weekly channel (very
major area).
Support:
1119.50 intra-day channel, 1118.50 base and
1117.50 bottom (major area) /
1114.80 and 1114.20 base area (major)
/ 1113 primary day
channel and 1111 bottom also 1110.50 monthly
bottom (very
major area) / 1109
day gap and 1106.90 monthly gap (very
major area) / 1104 and 1103
day bottoms (very significant) / 1098 weekly
bottom to 1093.70 weekly gap (major
area) / 1083.50
minor long-term day channel and 1083 minor
weekly channel (very
major area) / 1176.50
double bottom and 1173.80 weekly major bottom
(very major
area).
Comments:
The sell-off on Tuesday
from the major resistance area proved the
significance of the area but the market also
held above the major support keeping the
chart inside the 1133 - 1113 neutral
area. A trade above 1133 - 1135 area is
bullish and can bring prices up near the
1142.50 resistance area. A trade above
1142.50 can possibly bring prices up to
challenge the 1156 and 1165 primary areas
again. A trade below 1113 is bearish but
a trade below the 1109 and 1106.90 gap areas
can keep the downtrend intact for lower
prices. Remain very defensive inside
this critically neutral area.
Day
Trades: For the June contract -
Aggressive traders can sell
rallies near 1124 - 1126 area or buy dips near
1120 - 1119 area, whichever side comes first
to complete the trade. (Use a buy stop
and rev. long at 1136.20). (Conservative
traders can use a protective buy stop at
1128.20. Do not rev. long). (Use a
sell stop and rev. short at 1112).
(Conservative traders can use a protective
sell stop at 1115.50. Do not rev.
short).
Aggressive traders can sell
rallies near 1132 - 1133 area for obj. near
1126 - 1124 area and possibly near 1122.
(Use a buy stop and rev. long at 1136.20).
Aggressive traders can attempt short
positions near 1142.50 for obj. near
1137 - 1135 area. (Use a buy stop and
rev. long at 1146).
Aggressive traders can attempt short
positions near 1155 - 1156 area
for obj. near 1151 - 1149 area and possibly
near 1147. (Use a buy stop and rev.
long at 1160).
Buy stop at 1136.20 for obj.
near 1140 - 1142.50 area.
Buy stop at 1146 for obj.
near 1149 - 1152 area.
Buy stop at 1160 for obj.
near 1163.50 - 1165 area.
Sell stop at 1112 for obj.
near 1110 - 1109 gap area and possibly near
the 1106.90 gap area.
Sell stop at 1102 for obj.
near 1098 - 1093.70 gap area.
Sell stop at 1090 for obj.
near 1085 - 1083 area.
Long-term short positions can
continue to use a protective buy stop at 1185.
Results: 4/10/02
A
TECHNICAL GUIDE FOR DAY TRADING THE S
& P
S
& P - For Thursday 04-11-02 :
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:
1133 newly developed
minor day channel, 1133.50 top and 1135
day top (very
major area) / 1140.80 day
top (major) / 1142.50
minor weekly channel and 1143 minor
channel and 1144.50 (very
major area) / 1149.20
monthly close and 1149.90 weekly top and
1151.50 minor channel (major area)
/ 1154.50 long-term
primary day channel (very
major) / 1156.80 weekly
top and 1159 day top (major area)
/ 1165 long-term
primary weekly channel (very
major area) / 1167.20 to
1168.50 exhaustion gap and 1168.50 day
channel (major area) /
1174.20 day gap (major area)
/ 1177 top and 1178.50 top on weekly chart
(very major).
Support:
1128.80 intra-day channel and 1126.20 base
(major area) / 1123 newly
developed day channel (major)
/ 1120.50 minor channel also 1119.50
bottom (major) / 1117.50
bottom and 1114.50 primary day channel (very
major area) / 1111 bottom
and 1110.50 monthly bottom (major
area) / 1109
day gap and 1106.90 monthly gap (very
major area) / 1104 and
1103 day bottoms (significant) / 1098
weekly bottom to 1093.70 weekly gap
(very major
area) / 1184 minor
long-term day channel and 1083 minor
weekly channel (very major area).
Comments:
The rally on Wednesday
from the support area confirms the
significance of the area. The
trading range that was seen this week adds
some constructive formation in this
critically neutral area. The market
can continue to swing to both sides, but
the technical supportiveness can stimulate
some rallies to higher ground.
A trade below the 1123 - 1120.50 area is
bearish but a trade below 1114.50 will
challenge the 1109 - 1106.90 major gap
area, putting the major downtrend back
into play. A trade above the 1135
top is bullish for higher prices. A
trade above 1142.50 can bring prices up to
challenge the 1154.50 primary channel and
possibly the 1165 weekly channel where
long-term short positions can be
considered again. Traders can
prepare for some short lived rallies but
overall hold a long-term negative attitude
until the market can prove otherwise.
Day
trades: For the June contract -
Aggressive traders can buy
dips near 1128.80 - 1126.20 area or sell
rallies near 1132 - 1133 area, whichever
side comes first to complete the trade.
(Use a sell stop and rev. short at 1118).
(Conservative traders can use a protective
sell stop at 1124.30. Do not rev.
short). (Use a buy stop and rev.
long at 1136.20).
Sell stop at 1118 for
obj. near 1115 - 1114.50 area and possibly
near 1111 bottom.
Sell stop at 1110 for
obj. near 1106.90 gap area and possibly
near 1105 area.
Sell stop at 1102 for
obj. near 1098 - 1093.70 gap area.
Buy stop at 1136.20 for
obj. near 1140 - 1142.50 area.
Buy stop at 1145.50 for
obj. near 1148.50 - 1150.50 area and
possibly near 1154.50 major channel.
Aggressive traders can consider
short positions near 1154.50 area
for obj. near 1149 - 1147 area and
possibly near 1145. (Use a
protective buy stop at 1160. Do not
rev. long).
Long-term short positions
can continue to use a protective buy stop
at 1185.
Bulletin - Originally sent 4/11/02 (10:06 am est)
At this time, long positions were
taken near the 1127 area for an obj.
near 1132. The sell-off seen at
1124.50 is jeopardizing the
conservative traders protective
sell-stop. At this time, it is
recommended for conservative traders
to move their stop just below the 1123
major channel support.
Bulletin - Originally sent 4/11/02 (10:43 am est)
The
market sold off to the 1118
sell-stop, but appears to have found
technical support and only a trade
below the 1117.50 bottom - 1113
primary upper channel will fail the
technical support. It is
recommended for traders to exit the
now existing short position and
reverse long. (Use a
protective sell stop at 1112).
Results: 4/11/02
A
TECHNICAL GUIDE FOR DAY TRADING
THE S & P
S
& P - For Friday 04-12-02 :
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:
1106 intra-day channel and 1107 peak
(major area) /
1110.50 intra-day channel and
1111.80 peak (major area)
/ 1113.70 intra-day peak and 1115.50
rev. peak (major area)
/ 1117.50 and 1119.30 peaks
(significant) / 1125
day channel (very
major area) /
1128.70 top to 1132 day gap also
1130 GBX channel (major
area) / 1133.50 and 1135
tops (major) / 1140.80
top and 1142 minor channel (very
major area) /
1149.20 monthly close, 1149.90
weekly top and 1151 minor channel (major
area) / 1153.50
long-term primary channel (very
major area).
Support:
1103 day bottom (major)
/ 1098.50
minor down channel and 1098 weekly
bottom to 1093.70 weekly gap (very
major area) /
1090.50 minor long-term day channel (major)
/ 1084 minor
long-term day channel and 1083 minor
long-term weekly channel (very
major area) / 1076.50
double bottom and 1173.80 weekly
major bottom (very
major area) / 1065
minor down channel on the weekly
chart (major) / 1053.50
major weekly bottom (very
major area).
Comments:
The sell-off on
Thursday was a little earlier than
expected, from the neutral area, but
nevertheless lower prices was
inevitable with the overall
technical bearishness, as repeatedly
expressed. Even with the
bearish conditions the market
faces very major support levels at
the 1093.70 weekly gap and 1084
channel. A failure to hold
these levels can bring prices down
to challenge the double bottom area
and possibly lower. NOTE:
A close on Friday below 1107 will
keep the chart in bearish condition
for next week. A close on
Friday between 1114 and 1107 is
neutral to bearish for next week.
A close above 1118 will put the
chart in neutral to slightly bullish
condition for next week. Let
the closing price on Friday be an
important guide for next week's
trading. The major trend is
considered down so rallies should be
considered a selling opportunity.
Day
trades: For the June
contract -
Aggressive traders can sell
rallies near 1110 - 1113 area for
obj. near 1106 - 1104.50 area.
(Use a protective buy stop at
1126.70. Do not rev. long).
(Conservative traders can use a
protective buy stop at 1116.70.
Do not rev. long).
Aggressive traders can sell
rallies near 1119 and if possible
near 1121 area for obj. near 1114.50
and possibly near 1112 area.
(Use a protective buy stop at
1126.70. Do not rev. long).
Buy stop at 1135.70
for obj. near 1139 - 1141 area.
Sell stop at 1102
for obj. near 1099 - 1098 area and
possibly near the 1093.70 weekly gap
area.
Sell stop at 1089
for obj. near 1085.50 - 1084 area.
Sell stop at 1080
for obj. near 1076 - 1074 area.
Sell stop at 1070
for obj. near 1066 - 1065 area.
Sell stop at 1062
for obj. near 1057 - 1055 area and
possibly near the 1053.50 major
bottom area.
Long-term short positions
can continue to use a protective buy
stop at 1185.
Results: 4/12/02
The
week in review - 4/15/02 - 4/19/02
The
Tech Guru's S & P Day Trading
Recommendations
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Monday 04-15-02 :
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:
1114.50 top and 1117.50 intra-day peak (major area)
/ 1119.50 major weekly channel
(very
major area) / 1121.50 minor day channel and
1122.50 peak (major area) / 1125.50 day
channel (major) / 1127.50 GBX channel (major)
/ 1132 day gap and minor channel and
1135 weekly top (very
major area) / 1140.50 minor channel and
1140.80 top (major area) / 1144.50 day gap (major)
/ 1149.90 weekly top and 1152
long-term primary day channel (very
major area) / 1156.80
weekly top and 1160 long-term primary weekly channel
(very
major area).
Support:
1109 newly developed primary weekly
channel (very major)
/ 1105 newly developed primary day
channel (very major)
/ 1103.90 and 1103.20 bottoms and 1102 minor channel (major
area) / 1098 weekly bottom to
1093.70 weekly gap (very
major area) / 1090.70 minor long-term day
channel and weekly down channel (major) / 1084.10
minor long-term day channel and 1083.50 minor long-term
weekly channel (very
major area) / 1076.50 double bottom and
1073.80 weekly major bottom (major area) /
1064 minor down channel on the weekly chart (major)
/ 1053.50 major weekly bottom (very major area).
Comments:
The trading range and close on Friday
remained in neutral to bearish territory. Rallies
should still be considered a selling opportunity. Only
a trade above 1119.50 - 1121 area can bring some bullishness
back to the chart and only a trade above 1127.50 - 1132 area
can prove to possibly challenge the 1160 primary resistance
again. A trade below the 1109 and 1105 area is bearish
but a trade below 1083 will confirm the major downtrend
intact for 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
1115.50 and if possible near 1117.50 for obj. near 1111 -
1109.50 area. (Use a buy stop and rev. long at
1122.70).
Aggressive traders can consider short positions
near the 1125.50 - 1127.50 area for obj. near 1121 - 1119.50
area and possibly near 1118. (Use a buy stop and rev.
long at 1133.20).
Buy stop at 1122.70 for obj. near 1125.50
and possibly near 1127.50 area.
Buy stop at 1133.20 for obj. near 1137 -
1139 area.
Buy stop at 1141.70 for obj. near 1144.50
gap area and possibly near 1147 - 1149 area.
Sell stop at 1108 for obj. near 1105.50 -
1105 area and possibly near 1103 - 1102 area.
Sell stop at 1101 for obj. near 1098 -
1093.70 gap area.
Sell stop at 1088.50 for obj. near 1084.50
- 1083 area.
Sell stop at 1080 for obj. near 1077 - 1075
area.
Sell stop at 1070 for obj. near 1065 - 1064
area.
Sell stop at 1061 for obj. near 1057 - 1055
area and possibly near the 1053.50 bottom area.
Long-term short positions can use a
protective buy stop at 1085.
Results: 4/15/02
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Tuesday 04-16-02 :
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:
1105.50 intra-day channel and 1107.50 peak and intra-day
channel (major area) / 1109 newly
developed day channel with the GBX session / 1109.50
intra-day channel and 1110.70 peak also 1111 day channel
(major area) / 1116.70 top and 1118.70
minor day channel (major area) / 1119.50
major weekly channel (very
major area) / 1122.50
day channel and 1124.50 GBX channel (very
major area) / 1128.70 top to 1132 day
gap (major area) / 1133.50 weekly top
and 1135 day top (major area) / 1139
minor channel and 1140.80 day top (major area)
/ 1144.50 day gap (significant) / 1149.20
monthly close, 1149.90 weekly top and 1150.50 long-term
primary day channel (very
major area).
Support:
1103 intra-day channel and 1102.50 base (major)
/ 1100.30 bottom (major) / 1098
weekly bottom to 1093.70 weekly gap also 1095 minor
monthly channel (very
major area) / 1091 minor day channel (major)
/ 1085 minor monthly channel and
1084.50 minor long-term day channel also 1183.50 minor
weekly channel (very
major area) / 1176.50 double bottom and
1173.80 weekly major bottom (major area)
/ 1064 minor down channel on the weekly chart (major)
/ 1053.50 major weekly bottom
(very major area).
Comments:
The sell-off on Monday from the
resistance area put the chart in bearish territory.
Rallies should be considered a selling opportunity.
Only a trade above the 1119.50 weekly channel can bring some
bullishness back to the chart and only a trade
above the 1122.50 - 1124.50 channels can possibly
stimulate rallies to challenge the 1132 gap area and
possibly higher. A trade below the 1103 - 1100.30
bottom area is bearish but a trade below the 1085 -
1083.50 channels will confirm the major downtrend intact
for 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 1109 - 1110 area and if possible near 1111 for obj.
near 1105.50 - 1103 area and possibly near 1102.
(Use a buy stop and rev. long at 1114.50).
Aggressive traders can attempt short positions
near 1118.50 - 1119.50 area for obj. near 1114 - 1113
area and possibly near 1111. (Use a buy stop and
rev. long at 1125).
Buy stop at 1114.50 for obj. near
1118.50 - 1119.50 area.
Buy stop at 1125 for obj. near 1129 -
1132 area.
Buy stop at 1135.20 for obj. near 1138
- 1139 area.
Sell stop at 1099 for obj. near 1095 -
1093.70 gap area and possibly near 1091.
Sell stop at 1089 for obj. near 1085.50
- 1084.50 area and possibly near 1083.50.
Sell stop at 1080.50 for obj. near
1077 - 1075 area.
Sell stop at 1070 for obj. near 1065 -
1064 area.
Long-term short positions can continue
to use a protective buy stop at 1185. NOTE:
If the market
appears it will close on Friday above 1150, then
exit all short positions and wait for the next
signal.
Bulletin -
Originally sent 4/16/02 (10:40 am est)
The market reached the
1124.50 resistance area. It is recommended to
change the 1125 buy stop and make it 1126. 1125
appears to be a little too close to the 1124.50
resistance.
Bulletin -
Originally sent 4/16/02 (11:37 am est)
The market hit the buy
stop at 1126 but does not appear supportive enough
for rallies to continue. It is recommended for
all long positions to exit and wait for more chart
formation to develop.
Aggressive
traders can attempt short positions in this
area between 1124 and 1126 for obj. near the
1115 area and possibly 1112. (Use a protective
buy stop at 1128).
Bulletin -
Originally sent 4/16/02 (1:57 pm est)
The chart formation is
beginning to appear top heavy at this time near
the 1126 - 1127 area. It is recommended for
all aggressive traders to move the 1128 buy stop
to 1134. The new buy stop is just above the
1133.50 top area. If the market can
trade above the 1133.50 area it can move to higher
territory.
Results: 4/16/02
A
TECHNICAL GUIDE FOR DAY TRADING THE S
& P
S
& P - For Wednesday 04-17-02 :
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:
1131 top and minor channel and 1131.50 rev.
channel also 1132 day gap (major area)
/ 1133.50 weekly top and 1135 day top (major
area) / 1137
minor weekly channel and 1138 minor day
channel and 1138.10 closing price
(very
major area) / 1140.80 day top
(major)
/ 1143.20 to 1144.50 gap / 1149.20
monthly closing price and 1149.50 long-term
primary day channel also 1149.90 weekly to
(very major
area) / 1156.80
weekly top and 1160 long-term primary weekly
channel (very
major area) / 1166 day channel
and 1167.20 to 1168.50 exhaustion gap (very
major area) / 1170 minor weekly
channel (very major).
Support:
1128 intra-day base and 1127.50 intra-day
channel (major area) /
1125.60 base (significant) / 1123.50
base and 1122.50 intra-day gap
(very
major area) / 1116.70 rev. top
and 1115 day bottom (major area)
/ 1112 end of week close and 1110.70 intra-day
rev. peak (major area) / 1104.30
day gap and 1102 primary day channel also
1101.50 minor channel and 1100.30 bottom
(very major
area) / 1098
weekly bottom to 1093.70 weekly gap also 1095
minor monthly channel (very
major area) / 1085 minor
monthly channel and 1084.50 minor long-term
day channel also 1083.50 minor weekly channel (very
major area).
Comments:
The rally seen on Tuesday
brought prices up near a very critical
resistance at 1137, found on the weekly chart.
The market must trade above the 1137 and 1138
area to put the chart back into bullish
territory. It will then be facing the
primary channels at 1149.50 on the daily chart
and 1160 on the weekly chart, which should
both be considered major selling area.
Only a trade above 1170 will be considered a
breakout and can possibly reverse the major
trend up. A trade below 1112 can bring
the chart back into neutral to bearish
condition. A trade below the 1104.20 gap
and 1100.30 bottom area will bring extreme
bearishness to the chart. A trade below
the 1085 - 1083.50 area will confirm the
downtrend intact for much lower prices to
follow. NOTE:
Even
with Tuesday's rally being higher than
expected, it could still turn out to be a good
selling opportunity as long as the market
remains below the 1137 - 1138 area.
Remain defensively bearish until prices can
prove otherwise.
Day
trades: For the June contract -
Aggressive traders can sell
rallies near the 1132 - 1135 area and if
possible near the 1137 area for obj. near 1128
- 1127.50 area. (Use a buy stop and rev.
long at 1141.20).
NOTE: Traders
can hold this day trade for a longer obj. near
1112 - 1107 area or exit market on close.
Buy stop at 1141.20 for obj.
near 1146 - 1149 area.
Buy stop at 1151.70 for obj.
near 1156 - 1159 area.
Sell stop at 1126.80 for obj.
near 1123.80 - 1122.50 area.
Sell stop at 1120.50 for obj.
near 1117 - 1116.70 area and possibly near
1112.
Sell stop at 1109 for obj.
near 1106 - 1104 area and possibly near 1102.
Sell stop at 1099 for obj.
near 1095 - 1093.70 gap area.
Long-term short positions can
continue to use a protective buy stop at 1185.
NOTE: If
the market appears it will close on Friday
above 1150, then exit all short positions
and wait for the next signal.
Results: 4/17/02
A
TECHNICAL GUIDE FOR DAY TRADING THE S
& P
S
& P - For Thursday 04-18-02 :
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:
1129.80 and 1130.80 intra-day peaks
(major
area) / 1132 peak, 1132.50
intra-day channel and 1133.70 GBX channel
(major
area) / 1134.40 day top and
1135.70 GBX top (major area)
/ 1137 minor weekly
channel and 1138.10 closing price
(very
major area) / 1140.80 day
top (major) / 1144.50 day
gap (major area) / 1148
long-term primary day channel, 1149.20
monthly closing price and 1149.90 weekly
top (very
major area) / 1156.80
weekly top and 1160 long-term primary
weekly channel (very
major area) / 1166.10 day
channel and 1167.20 to 1168.50 exhaustion
gap (very major area) /
1170 minor weekly channel (very
major area).
Support:
1126.50 intra-day channel (major)
/ 1124 bottom and
1123.50 base also 1122.50 intra-day gap
(very major
area) / 1116.70 rev. top
and 1115 day bottom (major area)
/ 1112 end of week close and 1110.70
intra-day rev. peak (major area)
/ 1104.30 day gap
and 1102.30 primary day channel
(very major area)
/ 1100.30 bottom (major)
/ 1098 weekly bottom
to 1093.70 weekly gap also 1095 minor
monthly channel (very
major area) / 1085 minor
monthly channel and 1084.50 minor
long-term day channel also 1083.50 minor
weekly channel (very major area).
Comments:
Wednesday's session
remained between the major resistance and
major support areas leaving the chart
totally neutral. With the market
having difficulty to penetrate through the
1137 major resistance, especially after
seeing Tuesday's rally, can prove to be a
signal for possible lower prices. A
trade above 1133.70 channel is slightly
bullish but a trade above 1137 - 1138.10
area can bring prices up to challenge the
1148 primary day channel and possibly near
the 1160 primary weekly channel. The
1148 and 1160 area should still be
considered a selling area. Only a
trade above 1170 will be considered
a breakout for the possibility of the
major trend to reverse to the upside.
Remain defensively bearish in this neutral
area until the market can prove to trade above
1137. A trade below 1122.50 is
slightly bearish but only a trade below
the 1104.30 gap and 1000.30 bottom area can
put the chart in totally bearish
territory. NOTE:
If
the market can close on Friday above
1130 it will leave the chart slightly
bullish for next week.
Day
trades: For the June contract -
Aggressive traders can sell
rallies near 1129 - 1130 area and if
possible near 1132 for obj. near 1127 -
1126.50 area. Very
aggressive traders can sell at
market on open. (Use a protective
buy stop at 1134.20 for either trade.
Do not rev. long). NOTE:
Daily position traders can hold short
positions for obj. near 1112 and possibly
near 1106 - 1104.30 gap.
Aggressive traders can sell
rallies near 1136 - 1137 area, if it gets
there, for obj. near 1131 and
possibly near 1130. (Use a buy stop
and rev. long at 1141.20).
Buy stop at 1141.20 for
obj. near 1144.50 gap area and possibly
near 1146 - 1147 area.
Buy stop at 1151 for obj.
near 1155 and possibly near 1157 area.
Sell stop at 1121 for
obj. near 1117 - 1115 bottom area and
possibly near 1112.
Sell stop at 1109 for
obj. near 1106 - 1104.30 area.
Sell stop at 1099 for
obj. near 1095 and possibly near 1093.70
area.
Sell stop at 1190.50 for
obj. near 1185.50 - 1184.50 area and
possibly near 1183.50.
Long-term short positions
can continue to use a protective buy stop
at 1185. NOTE:
If
the market appears it will close on Friday
above 1150, then exit all short positions
and wait for the next signal.
Results: 4/18/02
A
TECHNICAL GUIDE FOR DAY TRADING
THE S & P
S
& P - For Friday 04-19-02 :
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:
1127 intra-day channel and 1127.50
peak (major) /
1129.70 minor day channel (major)
/ 1132 GBX
channel and day top also 1132.60 GBX
top (very
major area) / 1134.40
day top and 1135 minor day channel and
1135.70 GBX top (major area)
/ 1137 minor
weekly channel (very
major area) / 1140.80
day top (major) / 1144.50
day gap and 1146.50 long-term primary
channel (very
major area) / 1149.20
monthly closing price and 1149.90
weekly top (major area)
/ 1156.80 weekly
top and 1160 long-term primary weekly
channel (very
major area) / 1166 day
channel and 1167.20 to 1168.50
exhaustion gap (very major
area) / 1170 minor weekly
channel (very major area).
Support:
1120.80 and 1119.50 base (major)
/ 1113 newly
developed minor channel and 1112
weekly close (very
major) / 1109 bottom (major)
/ 1104.30 day
gap and 1104 primary day channel and
1103 minor day channel (very
major area) / 1000.30
bottom (major) / 1098
weekly bottom to 1093.70 weekly gap
also 1095 minor monthly channel
(very
major area) / 1092
minor day channel (major)
/ 1085 minor
monthly channel and 1085 minor day
channel also 1083.50 minor weekly
channel (very
major area) / 1064
minor down channel on the weekly chart
(major) / 1053.50
major weekly bottom (very
major area).
Comments:
The trading range
on Thursday between 1132 and 1109
materialized exactly as indicated
in yesterday's report in spite of any
world occurrence, as some might have
claimed for the reason of the
sell-off. The rally from the lows was
significant but can still be
considered a selling opportunity.
Only a trade above the 1137 weekly
channel will take the chart out of
this neutral to bearish condition.
A trade above the 1146.50 primary day
channel will put the chart back into
bullish territory. A trade below
1112 is bearish but only a trade below
1104 - 1100.30 bottom area will keep
the downtrend intact for lower prices.
Remain defensively bearish until the
market can prove otherwise.
Day
trades: For the June
contract -
Aggressive traders can sell rallies
near 1126 - 1127 area and if possible
near 1129.50 for obj. near 1121 -
1119.50 area. (Use a buy stop
and rev. long at 1138.70).
(Conservative traders can use a
protective buy stop at 1134.50.
Do not rev. long).
Aggressive traders can sell
rallies near 1136 - 1137 area, if it
ever gets there, for obj. near 1129 -
1127 area and possibly near 1125.
(Use a buy stop and rev. long at
1138.70).
Buy stop at 1138.70
for obj. near 1144.50 gap and possibly
near 1146.50 area.
Buy stop at 1151 for
obj. near 1155 and possibly near 1157
to 1160 area.
Sell stop at 1118 for
obj. near 1114 - 1112 area.
Sell stop at 1108.50
for obj. near 1104.50 - 1103 area.
Sell stop at 1099 for
obj. near 1095 - 1092 area.
Sell stop at 1089.80
for obj. near 1086 - 1085 area.
Long-term short positions
can continue to use a protective buy
stop at 1185. NOTE:
If
the market appears it will close on
Friday above 1150, then exit all
short positions and wait for the
next signal.
Results: 4/19/02
The
week in review - 4/22/02 - 4/26/02
The Tech Guru's S & P Day Trading
Recommendations
A
TECHNICAL GUIDE FOR DAY TRADING
THE S & P
S
& P - For Monday
04-22-02 :
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.
1128 minor day channel (major)
/ 1130 minor
weekly channel and 1131 minor day
channel and 1132.50 minor GBX channel (very
major area) / 1133.50
minor day channel and 1134.40 day top
and 1135.70 GBX top (major area)
/ 1143.20 to
1144.50 day gap and 1145.50 long-term
primary day channel (very
major area) / 1149.20
monthly channel and 1149.90 weekly top (major
area) / 1155
long-term primary weekly channel and
1156.60 long-term secondary day channel
(very
major area) / 1159
monthly channel (very
major area) / 1162
weekly channel and 1165.50 long-term
secondary day channel (very
major area) / 1167.20 to
1168.50 exhaustion gap and 1169 weekly
channel (major area) /
1172 minor weekly channel (very
major).
Support:
1124.50 base and 1123.30 bottom also
1123 day gap and 1123 GBX channel (major
area) / 1116
GBX bottom and 1115 minor day channel
(very
major area) / 1112
weekly closing price and 1109 day bottom
(major area) / 1106
primary weekly channel and 1105.50
primary day channel (very
major area) / 1104.30
day gap and 1103.50 minor day channel (major
area) / 1100.30 weekly bottom (major)
/ 1098 weekly
bottom to 1093.70 weekly gap also 1095
minor monthly channel (very
major area) / 1085
minor monthly channel and 1085
minor day channel also 1084 minor weekly
channel (very
major area) / 1076.50
double bottom and 1073.80 weekly bottom (major
area).
Comments:
Friday's trading
range remained inside a neutral area.
The 1128 to 1133.50 resistance this week
can prove to be significant enough
to stimulate lower prices. Remain
bearish until a trade above 1133.50 -
1135.70 area is seen. A trade
above the 1133.50 channel and 1134.40 -
1135.70 top area is bullish and can
bring prices up to challenge the
1146.50 and 1155 major channel areas.
A trade above 1162 - 1165.50 area
this week will be considered a breakout
for higher prices and a trade above
1172 this week can confirm a reversal of
the long-term major downtrend, to the
upside. A trade below 1123 is
slightly bearish but a trade below 1115
will prove to fail the major support for
lower prices. A trade below
1106 - 1103.50 area this week will put
the weekly chart in totally bearish
territory. A trade below 1185 -
1184 area will confirm a technical
failure on the monthly chart for obj.
into new contract lows.
Day
trades: For the June contract
-
Aggressive traders can sell
rallies near 1127.50 - 1128 area and if
possibly near 1131 for obj. near 1124 -
1123 area. (Use a buy stop and
rev. long at 1136). (Conservative
traders can use a protective buy stop at
1134.60. Do not rev. long). NOTE:
The
market must trade above 1133.50 to
show the first sign of any
bullishness. Conservative traders,
do not place buy stops below 1133.50.
Aggressive traders can consider
short positions near 1144.50 -
1146 area, if it gets there, for obj.
near 1138 and possibly near 1136.
(Use a buy stop and rev. long at 1151).
Buy stop at 1136
for obj. near 1140 - 1143 area and
possibly near 1144.50 gap.
Buy stop at 1151 for
obj. near 1154 - 1155 area and
possibly near 1156.50.
Sell stop at 1121 for
obj. near 1117 - 1115 area.
Sell stop at 1111 for
obj. near 1108 - 1106 area and possibly
near 1105.
Sell stop at 1099 for
obj. near 1095 - 1093.70 gap area.
Sell stop at 1090 for
obj. near 1086 - 1084 area.
Long-term short positions can now
use a protective buy stop at 1180.
NOTE:
If
the market appears it will close on
Friday above 1150, then exit all short
positions and wait for the next signal.
Results: 4/22/02
A
TECHNICAL GUIDE FOR DAY TRADING
THE S & P
S
& P - For Tuesday 04-23-02 :
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:
1110 and 1110.20 intra-day peak
(significant) / 1112.50 and 1112.70
peaks (major area)
/ 1114.50 day
channel also 1115.20 and 1116 peaks
(very
major area) /
1120.50 peak and 1122 day top (major
area) / 1126 minor channel,
1126.70 weekly gap (major
area) / 1128 GBX top and
channel (major) / 1129.50
day channel, 1130 minor weekly
channel, 1130.50 day top and 1131
minor day channel (very
major area) /
1134.40 day top and 1135.70 GBX top (major
area) / 1140.80 day top
(significant) / 1143.20
to 1144.50 day gap also 1144
long-term primary day channel
(very
major area) /
1149.20 monthly close and 1149.90
weekly top (major area)
/ 1155 long-term primary weekly
channel and 1156.60 long-term
secondary day channel also 1156.80
weekly top (very major area).
Support:
1107 newly developed day channel (major)
/ 1106.10
primary day channel and bottom also
1106 primary weekly channel (very
major area) /
1104.30 minor channel and day gap (major
area) / 1100.30 weekly
bottom (major) / 1098
weekly bottom to 1093.70 weekly gap
also 1092.50 bottom on the weekly
chart to 1091.70 gap and weekly
close (very
major area) /
1086.70 GBX weekly bottom
(significant) / 1085.50
minor day channel also 1085 minor monthly
channel and 1084 minor weekly
channel (very major
area) / 1076.50
double bottom and 1073.80 weekly
bottom (major area)
/ 1064.60 monthly close on the daily
chart and 1060.70 monthly close on
the monthly chart (very
major area) / 1154.60
monthly bottom and 1153.50 weekly
bottom and 1053.20 GBX bottom (very
major area).
Comments:
The sell-off on
Monday proved the significance of
the 1128 - 1133.50 resistance but
the market must still trade below
the 1106 and 1100.30 area to
put the chart in totally bearish
condition. The 1106 support
area is significant enough to
stimulate rallies but the rallies should
still be considered a selling
opportunity. Only a trade
above 1128 - 1131 area can bring any
bullishness back to the chart.
A trade below the 1100.30 bottom
area will be considered a
sell signal for lower prices.
A trade below 1084 will confirm the
downtrend intact for prices to
challenge the 1053.50 bottom area
and possibly new contract lows.
Remain bearish until the market can
prove otherwise.
Day
trades: For the June
contract -
Aggressive traders can sell
rallies near 1112 and if possible
near 1114.50 for obj. near 1108
- 1107 area and possibly near
1106.10 bottom area. (Use a
protective buy stop at 1117.70.
Do not rev. long). NOTE:
Very aggressive traders can
attempt long positions near the 1107
- 1106 area. Use a sell
stop and rev. short at 1099.
Conservative traders can use a
protective sell stop at 1103.
Do not rev. short.
Aggressive traders can
attempt short positions
near 1124 - 1126 area, if it gets
there, for obj. near 1120 - 1118.50
area. (Use a buy stop and rev.
long at 1134.70).
Buy stop at 1134.70
for obj. near 1140 - 1144.50 gap
area.
Sell stop at 1099
for obj. near 1095 - 1092 area.
Sell stop at 1090
for obj. near 1086 - 1084 area.
Sell stop at 1081
for obj. near 1077 - 1074 area.
Sell stop at 1070
for obj. near 1065 - 1061 area and
possibly near 1055 - 1053 bottom
area.
Long-term short positions can
continue to use a protective buy
stop at 1180. NOTE:
If
the market appears it will close on
Friday above 1150, then exit all
short positions and wait for the
next signal.
Results: 4/23/02
A
TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S
& P - For Wednesday
04-24-02 :
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:
1105.50 minor day channel (major)
/ 1108 intra-day channel (major)
/ 1109.50 intra-day channel also
1110.30 and 1111 peaks (major
area) / 1112.50
day top and 1113.30 GBX top
(very
major area) /
1116 intra-day channel and peak (major
area) / 1122 day top
and 1124 minor day channel (major
area) / 1126
day channel and 1126.70 weekly
gap (very
major area) / 1128
GBX top and 1128.50 day channel
also 1130 minor weekly channel
and GBX channel and 1130.50 day
top (very
major area) /
1134.40 weekly top and 1135.70
GBX weekly top (major
area) / 1142.50
long-term primary day channel
also 1143.20 to 1144.50 day gap (very
major area) / 1155
long-term primary weekly channel
(very major).
Support:
1100.60 newly developed primary
channel and 1099.30 bottom (major
area) / 1098
weekly bottom to 1093.70 weekly
gap also 1092.50 bottom on the
weekly chart to 1091.70 gap and
weekly close
(very major area)
/ 1086.70 GBX weekly bottom
(significant) / 1086
minor day channel also 1085
minor monthly channel and 1084
minor weekly channel (very
major area) /
1076.50 double bottom and
1073.80 weekly bottom (major
area) / 1064.60
monthly close on the daily chart
and 1060.70 monthly close on the
monthly chart (very
major area) /
1154.60 monthly bottom and
1153.50 weekly bottom also
1053.20 GBX bottom (very
major area).
Comments:
The
follow-through sell-off on
Tuesday keeps the chart in
neutral to bearish territory.
A trade below the 1099.30 bottom
is bearish but only a trade
below the 1086 - 1084 area will
confirm the major downtrend
intact for lower prices.
Rallies can be stimulated from
the technical minor double
bottom area, but should be
considered a selling
opportunity. Only a trade
above the 1126 - 1130 area can
bring any bullishness back to
the chart. The long-term
technical view remains bearish
and can possibly have a sell-off
down to the 818 area in the near
future, which is the 50%
retracement area on the
long-term monthly chart.
Remain bearish until the market
can prove otherwise.
Day
trades: For the June
contract -
Aggressive
traders can sell
rallies near the 1105.50 - 1108
area and if possible near 1109
for obj. near 1103 - 1101 area.
(Use a protective buy stop at
1111.70. Do not rev.
long).
Aggressive traders can
sell rallies near 1114
- 1116 area for obj. near 1110 -
1109 area and possibly near
1107. (Use a protective
buy stop at 1117.70. Do
not rev. long).
Aggressive traders can
consider short positions
near 1122 - 1124 area and if
possible near 1126 for obj. near
1118.50 and possibly near 1116.
(Use a buy stop and rev. long at
1134.70).
Buy stop at
1134.70 for obj. near 1140 -
1142 area.
Sell stop at
1098.50 for obj. near 1093.70
gap area and possibly near 1092.
Sell stop at
1089 for obj. near 1086 - 1084
area.
Sell stop at
1081 for obj. near 1077 - 1075
area.
Sell stop at
1070 for obj. near 1066 - 1064
area.
Long-term short
positions can now use a
protective buy stop at 1172.
Results: 4/24/02
A
TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S
& P - For Thursday
04-25-02 :
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:
1093.50 intra-day channel
and 1095.50 peak (major
area) / 1098.20
peak and 1100.30 rev. bottom
also 1100.50 newly developed
day channel including GBX
prices (major area)
/ 1104.50
peak also 1106 and 1106.50
minor day channels (very
major area) /
1107.80 peak (major)
/ 1109.50 top and 1112.50
top (major area)
/ 1122
day top and 1124 day channel
(very
major area) /
1126.70 weekly gap and 1127
minor channel also 1128 GBX
top and 1128.50 minor day
channel (major area)
/ 1130
minor weekly channel (very
major area).
Support:
1086
minor day channel and 1085
minor monthly channel also
1084 minor weekly channel
(very
major area)
/ 1080.50
day chart down channel line
(very
major area) /
1076.50 double bottom and
1073.80 weekly chart bottom (major
area) / 1064.60
monthly close on the daily
chart and 1060.70 monthly
close on the monthly chart (very
major area) /
1054.60
monthly bottom and 1053.50
weekly bottom also 1053.20
GBX bottom (very
major area)
/ 1050.10 monthly closing
price on the daily chart (very
major area) /
1043.70 monthly closing
price on the monthly chart (very
major area).
Comments:
The
bearish conditions seen in
the chart stimulated a
sell-off in Wednesday's
session just as expected,
bringing prices down to a
very critical support area.
As mentioned in yesterday's
report a trade below the
1084 area and now below the
1080.50 down channel will confirm
the major downtrend intact
for lower prices. It
is possible for rallies to
be stimulated from this
critical support area but can
then be considered a
selling opportunity.
Technically the 1176.50 and
1173.80 bottom areas will not
play as an important of a
roll as the monthly settling
prices at this time. A
trade below the 1164.60 and
1060.70 monthly closing
prices will be
considered a technical
failure of support and can
stimulate selling pressure
for prices to reach below
the 1000 area very soon.
Remain defensive in this
critical support area.
The 1084 - 1080.50 area can
stimulate rallies up and
possibly as high as the 1100
- 1106 area again that can
be considered a good selling
opportunity.
Day
trades: For the
June contract -
Very
aggressive traders can
consider long positions
near 1086 - 1084 and if
possible near 1081 for obj.
near 1092 - 1095 area and
possibly near 1098.
(Use a sell stop and rev.
short at 1079.80).
Aggressive traders
can sell rallies
near 1095 and if possible
near 1098 - 1100 area for
obj. near 1088 - 1086 area
and possibly near 1084.
(Use a buy stop and rev.
long at 1110.20).
(Conservative traders can
use a protective buy stop at
1103.70. Do not rev.
long).
Buy stop at
1110.20 for obj. near 1114 -
1116 area.
Sell stop
at 1079.80 for obj. near
1076.50 - 1073.80 bottom
areas and possibly near
1072.
Sell stop
at 1070 for obj. near 1066 -
1064 area and possibly near
1062.
Sell stop
at 1059.50 for obj. near
1055 - 1053.50 bottom area
and possibly near 1051.
Sell stop
at 1047.80 for obj. near
1044 - 1043 area.
Long-term short
positions can now
use a protective buy stop at
1165.
Results: 4/25/02
A
TECHNICAL GUIDE FOR
DAY TRADING THE S &
P
S
& P - For Friday
04-26-02 :
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.
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:
1195.50 and 1197.50 day
channels (major
area) / 1102
and 1104 minor channels
and 1104.50 peak (very
major area)
/ 1109.50 top and
1112.50 top and 1113.30
GBX top (major
area) /
1118..50 GBX channel and
1119.50 minor channel (major
area) / 1122
major GBX channel and
1122 top (very
major area)
/ 1126 minor channel and
1126.70 weekly gap also
1127.50 minor GBX
channel and 1128 GBX top
(major area)
/ 1130
minor weekly channel
(very
major area).
Support:
1090.80 and 1089.20 base
and 1089.50 intra-day
gap (major area)
/ 1087 intra-day channel
(major)
/ 1085.70
base and 1085 newly
developed primary day
channel also 1084.50 day
bottom, 1084 GBX channel
and 1083.40 GBX bottom
(very
major area) /
1078 down channel and
1076.50 double bottom
and 1073.80 weekly chart
bottom (major
area) / 1064.60
monthly close on the
daily chart and 1060.70
monthly close on the
monthly chart (very
major area)
/ 1054.60
monthly bottom and
1053.50 weekly bottom
also 1053.20 GBX bottom (very
major area)
/ 1050.10 monthly
closing price on the
daily chart (very
major area) /
1043.70 monthly closing
price on the monthly
chart (very
major area).
Comments:
Thursday's
early morning sell-off
brought prices down to
the 1084 major support
area, which proved to be
significant enough to
stimulate rallies.
The chart formation
became technically
supportive from
Thursday's trading
session and if today's
prices can remain above
the 1086 - 1084 area,
then further rallies can
develop. A trade
above 1097.50 is
slightly bullish but a
trade above 1104 can
prove bullish enough to
bring prices above the
1110 area again. Technically,
it seems unlikely for
the market to trade
above the 1118.50 - 1122
area, at this time, so
rallies above the 1110
area can be considered a
selling opportunity.
A trade below 1083 and
1078 will keep the major
downtrend intact and
should prove to be
bearish enough to bring
prices down to challenge
the 1064.60 - 1060.70
monthly closes and
possibly below the 1050
level. Remain
defensive at this
critically supportive
area.
Day
trades: For
the June contract -
Aggressive
traders can sell
rallies near 1095.50 -
1097.50 area or buy dips
near 1091 - 1088 area,
whichever side comes
first, to complete the
trade. (Use a buy
stop and rev. long at
1105.70).
(Conservative traders
can use a protective buy
stop at 1099.70.
Do not rev. long).
(Use a sell stop and
rev. short at 1081.80).
(Conservative traders
can use a protective
sell stop at 1084.
Do not rev. short).
Aggressive
traders can sell
rallies near 1102 -
1104 area for obj.
near 1098.50 - 1097.50
area. (Use a buy
stop and rev. long at
1105.20).
Buy
stop at 1105.70 for
obj. near 1109 and
possibly near 1111 -
1113 area.
Sell
stop at 1081.80 for
obj. near 1078.20 and
possibly near 1076.50
bottom area.
Sell
stop at 1070 for obj.
near 1066 - 1064 area
and possibly near
1062.
Sell
stop at 1059.50 for
obj. near 1055 -
1053.50 area and
possibly near 1051.
Sell
stop at 1047.80 for
obj. near 1044 - 1043
area.
Long-term
short positions
can continue to use a
protective buy stop at
1165.
Bulletin -
Originally sent
4/26/02 (11:32 am
et)
The
market hit the
1081.80 sell stop
today for short
positions. The
chart formation
still remains
slightly supportive
at this time.
It is recommended
for traders to exit
the short positions
taken and cut
losses. The
potential for the
market to stimulate
rallies still
exists. Only a
trade below 1073.80
major bottom will
completely fail the
major support for
lower prices.
Use the 1070 sell
stop to re-enter
short positions.
Results: 4/26/02
The
week in review - 4/29/02 - 5/03/02
The Tech Guru's S & P Day Trading
Recommendations
A
TECHNICAL GUIDE FOR DAY TRADING THE
S & P
S
& P - For Monday 04-29-02 :
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, etc.
Resistance:
1077 and 1077.50 intra-day channel (major
area) / 1081.80 peak and 1083 intra-day
channel (major area) / 1087.50
and 1087.80 double peak area and 1089 GBX channel (major
area) / 1091 day
channel (very
major area) / 1097 day top and
1098.50 GBX channel (major area)
/ 1100.60 minor channel
(very major area)
/ 1109.50 top and 1112.50 top and 1113.30
GBX top (major area) / 1116
minor GBX channel and 1118 weekly channel (very
major area) / 1120
major day channel and 1120.20 minor weekly channel
(very major area).
Support:
1068 minor channel (major) / 1064.60
daily chart monthly close and 1064 down channel
(very major area) / 1060.70
monthly close on the monthly chart (very
major area) / 1054.60
monthly bottom and 1053.50 weekly bottom also
1053.20 GBX bottom (very
major area) / 1050.10
monthly close on the daily chart (very
major area) / 1043.70 monthly
closing price on the monthly chart (very
major area) / 1036.50 day bottom to
1028.50 day gap (major area).
Comments:
The sell-off on Friday put the
chart in totally bearish territory. Traders
can continue to sell rallies near resistance until
the market can prove otherwise. A trade
above 1091 is slightly bullish but only a trade
above 1100.60 can possibly bring prices up to
challenge the 1116 - 1120 area again. NOTE:
Only a trade
above 1126 can bring any solid bullishness back to
the chart and only a trade above 1160 can reverse
the major trend up. A trade below the 1068
area can bring prices down to challenge the
monthly closing prices and major bottom area.
Overall, the market appears bearish enough for
prices to trade down below the 1000 area again and
possibly down near the long-term 50% retracement
area of 818 in the very near future.
Day
trades: For the June contract -
Aggressive traders
can sell rallies near 1076 - 1077.50 area
and if possible near 1080 for obj. near 1072 -
1070 area and possibly near 1068. (Use a
protective buy stop at 1084.20. Do not rev.
long).
Aggressive traders
can sell rallies near 1087 - 1089 area and if
possible near 1091 for obj. near 1081 and possibly
near 1077 area. (Use a protective buy stop
at 1094. Do not rev. long).
Aggressive traders
can attempt short positions near 1097 -
1100 area for obj. near 1091 and possibly near
1088 - 1086 area. (Use a buy stop and
rev. long at 1103.70).
Buy stop at
1103.70 for obj. near 1107 - 1109 area and
possibly near 1111.
Sell stop
at 1067 for obj. near 1064.60 - 1060.70 area.
Sell stop
at 1059 for obj. near 1055 - 1053.50 area and
possibly near 1051.
Sell stop
at 1048.70 for obj. near 1044.50 - 1043.70 area.
Sell stop
at 1041 for obj. near 1036.50 - 1033.50 area and
possibly near 1028.50 gap area.
Long-term short
positions can now use a protective
buy stop at 1063. Congratulations to the
long-term position trader who originally took the
trade recommendation to sell near 1169 - 1173 and
possibly near 1177 from the 3/08/02 report.
This trade is now in a profit of above $25.000 to
date and it seems there is still more to come.
Bulletin -
Originally sent 4/29/02 (11:54 am et)
This bulletin is
for our new subscribers to better understand
our report. The first signal listed
in today's report was to sell rallies near
1076 - 1077 and possibly near 1080 for an obj.
near 1072 - 1070. The market rallied up
near the sell area for short positions to be
taken. The market proceeded down
reaching a low of 1072.80 and 1072.25 in the
E-mini. The trade should then be
considered complete when the market
reached the 1072.80 and 1072.25 in
the E-mini.
Trades are not
recommended to be repeated in the same day
session. When a trade is attempted for
the second time in the same day session, it
increases the risk of accuracy by 20%,
therefore if the first trade is considered a
90% accuracy, if the trade is repeated for the
second time, it is considered 70% accurate.
If a trade is attempted for the third time, it
is considered only 50% accurate. As we
saw today, the first trade recommendation materialized
again for a second time. Even
though we do not recommend repeating the
trade, very aggressive traders can consider
taking the trade again, but must realize
the trade is a greater risk.
Results: 4/29/02
A
TECHNICAL GUIDE FOR DAY TRADING THE
S & P
S
& P - For Tuesday 04-30-02 :
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, etc.
Resistance:
1065 newly developed day channel, 1066.50
intra-day channel and 1066.70 peak (major
area) / 1069.50 peak and 1070 intra-day
channel (major area) / 1074 and
1076.60 peaks (major) /
1078.50 peak and 1079.50 day top and intra-day
channel (major) / 1081.50
day channel (very
major area) / 1085 minor day
channel and 1087.80 peak (major area)
/ 1094.50 minor channel,
1097 day top and 1097.50 minor channel (very
major area) / 1109.50 day top (major)
/ 1112.50 day top and 1113.30 GBX top and 1113.50
minor channel (major area) / 1118
weekly channel (very
major area).
Support:
1062 weekly down channel (major)
/ 1060.70 monthly close on
the monthly chart and 1060.20 daily down channel (very
major area) / 1054.60
monthly bottom and 1053.50 weekly bottom also
1053.20 GBX bottom (very
major area) / 1050.10
monthly close on the daily chart (very
major area) / 1043.70
monthly closing price on the monthly chart (very
major area) / 1036.50 day bottom
to 1028.50 day gap (major area) /
1020.50 closing price on the daily chart (major
area) / 1014.20 daily closing price (major
area).
Comments:
The sell-off continued in
Monday's session bringing prices down to the
monthly closing price, which is a very important
support area. Due to
the bearish condition in the market, long
positions will not be recommended even though
rallies are possible. Very
aggressive traders can attempt long
positions at support areas but will be considered
a high risk trade. Aggressive
traders can continue to sell rallies
near resistance until the market can prove to
trade into bullish territory. A trade above
1081.50 - 1085 area is slightly bullish but only a
trade above 1097.50 can bring any solid
bullishness back to the chart. A trade below
1060 is bearish and a trade below 1050 will keep
the downtrend intact for lower prices.
Day
trades: For the June contract -
Aggressive traders can sell
rallies near 1069 - 1070 area for obj. near 1066 -
1065 area. (Use a protective buy stop at
1072. Do not rev. long).
Aggressive traders can sell
rallies near 1077 - 1079 area and if possibly near
1081 for obj. near 1072 - 1070 area. (Use a
protective buy stop at 1083.70. Do not rev.
long).
Aggressive traders can attempt short
positions near 1094 - 1097 area for obj.
near 1087 - 1085 area and possibly near 1083.
(Use a buy stop and rev. long at 1102).
Buy stop at 1102 for obj. near
1106 - 1108 area and possibly near 1109 - 1111
area.
Sell stop at 1059.50 for obj.
near 1055 - 1053 area and possibly near 1051.
Sell stop at 1048.70 for obj.
near 1044.70 - 1043.70.
Sell stop at 1040.50 for obj.
near 1036.50 - 1033.50 area and possibly near the
1028.50 gap area.
Long-term short positions can
continue to use a protective buy stop at 1163.
Bulletin -
Originally sent 4/30/02 (1:04 pm et)
The market reached
the sell area today at 1181. The short
positions can still look for the obj. near
1072 - 1070. The reason for this
bulletin is to protect the short position by
increasing the stop to 1085.20, which is just
above the 1085 channel resistance. So
for this trade, cancel the 1083.70 buy
stop and replace it with a buy stop at
1085.20.
Bulletin -
Originally sent 4/30/02 (2:15 pm et)
In response to a customers question regarding the first trade:
It was a very hard
decision for traders to make this morning
because of the action. One minute before the market opened, the S & P E-mini was trading in the sell area at 1069.50. When the day session opened at 1068, it was considered a sell, and therefore proceeded to meet the obj. as mentioned in the first trade. In the comments, it was also mentioned that very aggressive traders can attempt long positions but the long positions would be considered a high risk. After the first trade was complete, attempting the trade for the second time was not a bad decision but it did increase the risk. We are now in the second trade which is the sell between 1077 and 1081 area. The protective stop was changed from the original report with a bulletin and replaced with a buy stop at 1085.20. The market at this time seems to be building a top formation but the possibility for higher prices still exists. If you need any help in better understanding the report, then feel free to contact us at any time. This is not a problem to respond to questions such as yours. Results: 4/30/02
A
TECHNICAL GUIDE FOR DAY TRADING THE
S & P
S
& P - For Wednesday 05-01-02 :
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.
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, etc.
Resistance:
1082 intra-day channel and 1083.30 top (major)
/ 1087.80 intra-day peak (significant) / 1090.50
minor channel (major) / 1095.50
minor channel and 1097 top (very
major area) / 1109.50 day top and
1110.60 minor channel (major area)
/ 1112.50 day top and 1113.30 GBX top (major
area) / 1116 major
day channel and 1118 weekly channel (very
major area) / 1120
newly developed monthly channel (very
area major) / 1120.50 day channel (major)
/ 1122 top and 1124 day channel (major
area) / 1126.70 weekly gap (major
area).
Support:
1076 rev. channel and 1075.50 intra-day base (major
area) / 1072 intra-day base (major)
/ 1068 newly developed
monthly channel (very
major) / 1064
newly developed primary day channel and 1063.50
bottom also 1062 weekly down channel (very
major area) / 1060.70
monthly close (very
major area) / 1057 daily down
channel (major) / 1054.60
monthly bottom and 1053.50 weekly bottom also
1053.20 GBX bottom (very
major area) / 1050.10 monthly
close on the daily chart (very major area)
/ 1043.70 monthly closing price on the monthly
chart (very major area) / 1036.50
day bottom to 1028.50 day gap (major area).
Comments:
The rally seen in Tuesday's
session proved the significance of the 1064 - 1062
major support area. The chart is in a neutral
area but still overall in bearish
condition. If the 1068 newly developed
monthly channel can prove to hold support then
rallies can develop. A trade above 1090.50
and 1095.50 areas are bullish and can
possibly bring prices up near the 1110 and
1116 areas again. The 1116 and 1120 areas
should be considered a major selling area if it
ever gets there. A trade below the 1068
major support will put the monthly chart in
totally bearish conditions. A trade below
1064 - 1063.50 area will confirm the downtrend
intact for lower prices. Remain defensive in
this neutral area. Whiplashing to both sides
are possible until a breakout to either side of
the 1095.50 - 1068 neutral area is seen.
Day
trades: For the June contract -
Aggressive traders can sell rallies
near 1080 - 1082 or buy dips near 1072 - 1068
area, whichever side comes first to complete the
trade. (Use a protective buy stop at
1085.20. Do not rev. long). (Use a
protective sell stop at 1066. Do not rev.
short).
Aggressive traders can attempt short
positions near 1090 - 1093 area, if it
gets there, for obj. near 1084 - 1082 area.
(Use a buy stop and rev. long at 1099.70).
Buy stop at 1099.70 for obj. near
1105 and possibly near 1107 area.
Sell stop at 1060.30 for obj.
near 1057 - 1055 area and possibly near 1053.50.
Sell stop at 1049 for obj. near
1045 - 1043.70 area.
Sell stop at 1040.50 for obj.
near 1036.50 - 1033.50 area.
Long-term short positions can
continue to hold short positions. Use a
protective buy stop at 1163.
Results: 5/01/02
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S
& P - For Thursday 05-02-02 : 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.
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:
1092.50 minor channel and closing price (major area)
/ 1094.50 intra-day channel and 1097 day top (major area)
/ 1103.30 closing price (significant) / 1108.50 minor day channel
and 1109.50 day top (major area) / 1112.50 day
top and 1113.30 GBX channel (very significant)/ 1114
major day channel (very major
area) / 1118 weekly channel
and 1119 day channel also 1120 minor weekly channel (very
major area) / 1122 weekly top and 1123 minor day
channel (major area) / 1126.70 weekly gap and
1128 GBX weekly top (major area) / 1134.40
weekly top and 1135.70 GBX weekly top also 1135 long-term primary
day channel (very major area).
Support:
1087 and 1086.50 intra-day channel (major area) /
1083 and 1082.70 base also 1082 intra-day
channel and intra-day gap (very
major area) / 1079 base and 1077.20 previous day's
closing price (major area) / 1071.30 base and
1070.50 rev. peak (major area) / 1066.50 minor
channel (major) / 1065 day
bottom and 1064.50 primary day channel also 1063.50 bottom and
1062 weekly down channel (very
major area) / 1060.70
monthly close (very major
area) / 1055.20 daily down
channel and 1054.60 monthly bottom also 1053.50 weekly bottom and
1053.20 GBX bottom (very
major area) / 1050.10 monthly close on the daily
chart (very major area) / 1043.70 monthly closing
price on the monthly chart (very major area).
Comments:
The rally and close up for the second day in a
row proves the significance of the support area, but does not
change the fact that the market still remains inside a neutral to
bearish trading range between 1094.50 and 1066.50. A trade
above 1094.50 and 1097 top area can possibly bring prices up near
the 1114 - 1118 area again, where long-term short positions can be
considered. A trade below 1082 is slightly bearish but only
a trade below the 1066.50 and 1062 area will confirm the downtrend
intact for lower prices. NOTE:
The possibility for the
market to trade above the 1100 area is slim, but not out of the
picture yet. Remain defensively bearish until the market can
prove otherwise.
Day trades:
For the June contract -
Aggressive traders can sell rallies near 1089 -
1092 area and if possible near 1094 for obj. near 1084 and
possibly near 1082. Conservative traders can take profits
and exit near 1086.50. (Use a buy stop and rev. long
at 1100.70).
Buy stop at 1100.70 for obj. near 1106 - 1108
area and possibly near 1110.
Aggressive traders can attempt short positions
near 1114 - 1118 area, if it gets there, for obj. near 1108 - 1104
area. (Use a protective buy stop at 1124. Do not rev.
long).
Sell stop at 1080.80 for obj. near 1077.50.
Sell stop at 1075.80 for obj. near 1072 - 1071
area.
Sell stop at 1069.80 for obj. near 1066.50.
Sell stop at 1059.80 for obj. near 1055.50 and
possibly near 1054.60 - 1053.50 bottom areas.
Sell stop at 1049 for obj. near 1045 - 1043 area.
Long-term short positions can continue to hold
short positions. Use a protective buy stop at 1163.
Conservative position traders can take profits and exit the short
position today. Buy dips near 1087 - 1084 area.
Re-enter the short position on rallies near the 1108 - 1118 area
or a sell stop at 1059.80, whichever side comes first.
Bulletin - (Originally sent 5/02/02 9:58 am et)
This bulletin is being
sent because of the phone calls received from
traders that were concerned.
The first trade can be
considered complete, but the significance of the
1092 - 1094.50 resistance is worthy of an attempt
to take short positions and repeat the trade
again.
The obj. is to take
profits and exit near 1086 and possibly near
1084. (Continue to use a buy stop and rev.
long at 1100.70).
Bulletin - (Originally sent 5/02/02 10:28 am et) As you can see, the resistance at 1092 was significant enough to bring prices lower and to complete the first trade for the second time as recommended in the preceding bulletin. This is not a standard trade recommendation. Trades are not to be repeated unless otherwise specified or the aggressive trader can call The Tech Guru's hotline at (540) 843-GURU, for up to the minute trade recommendations. Do not hesitate to call The Tech Guru at any time as you may find necessary, and it would be best to set up your phone consultation service. The cost is only $1.33 per minute. Results: 5/02/02
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