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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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The
week in review - 03/03/03 - 03/07/03
The Tech Guru's S & P Day
Trading Recommendations
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P - For Monday
03-03-03: NOTE: After
each support and resistance listed will designate a value - (very
major) holds the highest importance, then (major), (very significant),
and (significant) is of the least 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. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter or
complete a trade.
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 March contract -
844.30 newly developed day channel and 844.50
peak also 845.80 and 847 minor weekly channels and top (very
major area) / 850.10 minor day
channel and 850.20 GBX weekly top also 853.40 weekly top and 854.70
monthly closing price (very major
area) / 860.30 weekly closing price and 861 day top
also 863.90 weekly top (major area) / 865.50
minor day channel also 866.60 GBX top and 867.80 weekly top (very
major area) / 882.50 day top to
883 day gap and 885.50 GBX top (very
major area).
Support: For
the March contract -
837.50 intra-day channel also 836.70 bottom and 836.40 day channel (major
area) / 830.50 base and 829.10 minor day channel (major
area) / 826.70 and 825.50 day bottoms
also 822.90 weekly channel (very
major area) / 817 weekly bottom (major area)
/ 813.70 day bottom and 811.60 long-term weekly
channel also 810.30 long-term day channel (very
major area) / 805.30 weekly bottom and 801.70 day gap (major
area).
Comments:
The closing price on Friday kept the chart in
neutral condition inside two neutral ranges. The first
neutral range is between 847 - 836.40, and a wider neutral range
between 850.10 and 822.90. A trade above the 850.10 and 854.70
area will be considered a breakout for higher prices to develop.
A trade below 822.90 will fail the major support for lower prices to
develop. Remain defensive inside the first neutral range between
847 and 836.40.
Day
trades: For the March contract -
Aggressive traders can sell rallies near 847 - 850.10
area for obj. near 840 - 838 area and possibly near 836.40. (Use
a buy stop and rev. long at 855.70).
Aggressive traders can buy dips near 838 - 836.40
area for obj. near 843 - 844 area and possibly near 846. (Use a
sell stop and rev. short at 833.40).
Buy stop at 855.70 for obj. near 858.50 - 860 area
and possibly near 861.
Buy stop at 868.70 for obj. near 876 - 878 area.
Sell stop at 833.40 for obj. near 831.50 - 830.50 and
possibly near 829.
Sell stop at 819 for obj. near 817 - 814 area and
possibly near 812.
Bulletin - Originally sent 03/03/03 (11:14 am est) Short positions were taken at 848. The sell-off down to 840.10 meets the obj. and completes the trade. Bulletin - Originally sent 03/03/03 (1:58 pm est) The sell-off brought prices down to 839.20 putting traders into long positions. The obj. still remains at 843 area. Bulletin - Originally sent 03/03/03 (2:09 pm est) Long positions were taken at 839.20. The rally up to 842.50 is near enough to the 843 obj. to complete the trade. Bulletin - Originally sent 03/03/03 (2:17 pm est) NOTE: The market is trading at the 838 - 837.50 area again and can still be considered a buying area for the trade to be repeated due to the fact that 836.40 is the major support. Traders holding long positions can look for obj. near 843 - 844 area, using the sell stop and rev short at 833.40 Results: 03/03/03
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P -
For Tuesday 03-04-03: NOTE: After
each support and resistance listed will designate a value - (very
major) holds the highest importance, then (major), (very
significant), and (significant) is of the least 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. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter or
complete a trade.
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 March contract -
836 peak and 836.50 intra-day channel also 837.30 and 837.50 peaks (major
area) / 842.50 and 844.80 and peaks (major area)
/ 850.10 newly developed day channel (very
major area) / 852.50 day top
also 853.40 weekly top and 854.70 monthly closing price
(very major area) / 860.30 weekly closing
price and 861 day top also 863.30 minor day channel and 863.90
weekly top (major area) / 866.60
GBX top and 867.80 weekly top (very
major area) / 882.50 day top
to 883 day gap and 885.50 GBX top (very
major area).
Support: For
the March contract -
834.80 minor day channel (major) / 830.30 minor day
channel (major) / 826.70 and 825.50 day bottoms (major
area) / 824.30 day channel and 822.80
weekly channel (very major
area) / 817 weekly bottom (major) /
813.70 day bottom and 811.60 long-term weekly
channel also 810.50 long-term day channel (very
major area) / 805.30 weekly bottom and 801.70 day
gap (major area) / 891.50 rev. peak (major
area).
Comments:
The sell-off on Monday from the resistance area
proved the significance of the resistance but managed to remain
inside the neutral area. A trade today above the 850.10
channel and 853.40 weekly top can prove to be significant enough to
stimulate a possible new uptrend. A trade today below 830.30
is slightly bearish but a trade below 824.30 and 822.80 will fail
the major support for lower prices to follow. Remain defensive
inside the 850.10 - 824.30 neutral range.
Day
trades: For the March contract -
Aggressive traders can sell rallies near 836 -
836.50 and buy dips near 832 - 830.30 area, whichever side comes
first to complete the trade. (Use a protective buy stop at
838.70. Do not rev. long). (Use a protective sell stop
at 829.70. Do not rev. short).
Aggressive traders can sell rallies near 848 - 850
for obj. near 844 - 842 area. (Use a buy stop and rev. long at
855.70).
Buy stop at 855.70 for obj. near 858.70 - 860.30
area and possibly near 863.
Buy stop at 871 for obj. near 875 - 878 area.
Sell stop at 819 for obj. near 815 - 812 area.
Sell stop at 807 for obj. near 805 - 801.70 gap
area.
Bulletin - Originally sent 03/04/03 (9:52 am est) Short positions were taken at the opening at 834.90. The sell-off down to 831 completes the trade. Results: 03/04/03
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P -
For Wednesday 03-05-03: NOTE: After
each support and resistance listed will designate a value - (very
major) holds the highest importance, then (major), (very
significant), and (significant) is of the least 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. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter or
complete a trade.
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 March contract -
822.70 peak and 823.40 intra-day channel also 824.50 and 824.80
peaks (major area) / 830.80 peak and 832.50 peak (major
area) / 834.90 day top and 835.40
day gap also 836 peak (very
major area) / 840.90 weekly and monthly closing
price (major area) / 847.20
weekly closing price and 848 day channel
(very major area) / 852.50
and 853.40 weekly tops also 854.70 monthly closing price (very
major area) / 860.30 weekly closing price and 861
day top also 861.50 minor day channel and 863.90 weekly top (major
area) / 866.60 GBX top and 867.80
weekly top (very major area).
Support: For
the March contract -
819.80 minor day channel and 817.30 rev.
channel also 817 weekly bottom (very
major area) / 814.70 monthly
channel and 813.70 day bottom and 811.60 long-term weekly channel
also 811 long-term day channel (very
major area) / 805.30 weekly bottom and 801.70 day
gap (major area) / 791.70 rev. peak (major)
/ 784.70 major monthly channel (very
major area).
Comments:
The sell-off on Tuesday brought prices below
the major weekly channel, putting the chart in neutral to bearish
territory. A trade above 830.80 and 835.40 areas are slightly
bullish but only a trade above 848 and 852.50 area can bring any
solid bullishness back to the chart. A trade below 819.80
and 817 area is bearish but a trade below 814.70 and 811 will
confirm the downtrend intact for lower prices to follow.
Remain defensive inside the 823.40 and 819.80 narrow neutral
range.
Day
trades: For the March contract -
Aggressive traders can sell rallies near 822 -
823.40 area or buy dips near 820.50 - 819.80 area, whichever side
comes first to complete the trade. (Use a protective buy
stop at 825.70. Do not rev. long). (Use a protective
sell stop at 816.70. Do not rev. short).
Buy stop at 831 for obj. near 835 - 836 area.
Buy stop at 838 for obj. near 840 - 841 area.
Buy stop at 844 for obj. near 847 - 848 area.
Sell stop at 809 for obj. near 805 - 801.70 gap
area.
Sell stop at 798 for obj. near 793 - 791.50 area.
Sell stop at 789 for obj. near 785.70 - 784.70
area.
Bulletin - Originally sent 03/05/03 (9:43 am est) The short positions was missed with a high of 821.50. Long positions were taken at 820. The rally up to the double top at 821.30 is considered near enough to the obj. of 822 to complete the trade. Results: 03/05/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S & P
- For Thursday 03-06-03: NOTE: After
each support and resistance listed will designate a value -
(very major) holds the highest importance, then (major), (very
significant), and (significant) is of the least 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. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter or
complete a trade.
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 March contract -
830.80 and 832.50 peaks (major area) / 834.90
day top and 835.40 day gap also 836 peak (very
major area) / 840.90 weekly and monthly closing
price (major area) / 845.50
day channel and 847.20 weekly closing price (very
major area) / 850.50 minor day channel (major)
/ 852.50 weekly top also 853.40 weekly top
and 854.70 monthly closing price (very
major area) / 859.50 minor
day channel and 860.30 weekly closing price also 861 day top and
863.90 weekly top (very
major area) / 866.60 GBX
top and 867.80 weekly top (very
major area) / 882.50 day
top to 883 day gap also 885.50 GBX top (very
major area).
Support: For
the March contract -
825.40 (major) / 822
intra-day channel and 819.50 day channel (very
major area) / 818.50 day bottom and 817
weekly bottom (major area) / 814.70
monthly channel and 813.70 day bottom also 811.60 long-term
weekly channel and 811.50 long-term daily channel (very
major area) / 805.30 weekly bottom and 801.70
day gap (major area) / 791.70 rev. peak (major)
/ 784.70 long-term major monthly channel
(very major area).
Comments:
The rally on Wednesday from the major support
proves the significance of the area but the market continues to
remain inside a neutral trading range between 836 and 822.
A trade above 836 is slightly bullish but only a trade
above 845.50 and 850.50 areas can bring any solid bullishness
back to the chart. A trade below 822 is bearish for prices
to challenge the 814.70 monthly channel. A trade below
811.60 can bring prices down near the 784.70 monthly channel
support. Remain defensive inside the 836 - 822 neutral
range.
Day
trades: For the March contract -
Aggressive traders can buy dips near 824 - 822
area for obj. near 828 - 830 area. (Use a protective sell
stop at 816. Do not rev. short).
Aggressive traders can buy dips near 815
- 812 area for obj. near 819 - 821. (Use a sell stop and
rev. short at 808.70).
Aggressive traders can sell rallies near 834 -
836 area for obj. near 830 - 828 area. (Use a buy stop and
rev. long at 838).
Buy stop at 838 for obj. near 840 - 841 area
and possibly near 844.
Buy stop at 855.50 for obj. near 858.50 -
860.50 area.
Sell stop at 808.70 for obj. near 805 - 801.70
area.
Sell stop at 798 for obj. near 793 - 791.70
area.
Sell stop at 789 for obj. near 785.70 - 784.70
area.
Bulletin - Originally sent 03/06/03 (9:48 am est) Long positions were taken at 823. Since the market traded below the 822 support, it is recommended to exit near 824.50 and take profits. It is possible for the market not to meet the obj. at 828. Results: 03/06/03
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P -
For Friday 03-07-03: NOTE: After
each support and resistance listed will designate a value - (very
major) holds the highest importance, then (major), (very
significant), and (significant) is of the least 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. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter or
complete a trade.
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 March contract -
822.70 intra-day channel also 822.50 and 823 peaks also 823.30 day
channel (major area) / 824.40 intra-day channel
also 824.50 and 825.50 peaks (major area) / 827
and 827.30 peaks also 828.50 minor day channel (very
major area) / 829.90 day top and 830.60 GBX top (major
area) / 834.90 day top to 835.40 day gap also 836.60 GBX
top (major area) / 840.90
weekly and monthly closing price and 843 major day channel (very
major area) / 847.20 weekly closing price and
849.50 minor day channel (major area) / 852.50
and 853.40 weekly tops also 854.70 monthly closing price (very
major area) / 860.30 weekly
closing price and 861 day top also 863.90 weekly top (very
major area) / 866.60 GBX top
and 867.80 weekly top (very
major area).
Support: For
the March contract -
820.50 minor day channel also 819.50 and
818.50 day bottoms also 817 weekly bottom (very
major area) / 814.70 monthly
channel and 813.70 day bottom also 812 long-term daily channel and
811.60 long-term weekly channel (very
major area) / 805.30 weekly bottom and 801.70 day
gap (major area) / 791.70 rev. peak (major)
/ 784.70 long-term major monthly channel
(very major area) /
776.90 lowest day session closing price (major area)
/ 767.50 major weekly bottom (very
major area) / 758.30 monthly
down channel (very major
area) / 747.20 and 736.80
are the long-term major monthly channels (very
major area).
Comments:
After considering the minor key reversal to the
downside made on Monday and a sell-off again on Thursday from
the resistance makes the chart technically bearish.
The market is now facing a major support area at 814.70 and
811.60. A failure below this area can bring prices down to
challenge the 805.30 bottom and also the 784.70 monthly channel. A
failure to hold above the 784.70 can possibly bring
prices down near the 758.30, 747.20 and 736.80 monthly
channels, which technically should be considered a long-term
major buying area. A trade today above the 823.30 and 828.50
resistance is slightly bullish but only a trade above the 843 and
849.50 areas can bring any solid bullishness back to the chart.
Remain defensive inside the 823.30 - 828.50 resistance and 814.70
- 811.60 support area, which is the neutral trading range at this
time.
Day
trades: For the March contract -
Aggressive traders can sell
rallies near 822 - 823.30 area and if possible near 827 for obj.
near 816.50 - 814.70 area and possibly near 811.60. (Use a
buy stop and rev. long at 831.30).
Very aggressive traders can
attempt long positions near 816.50 - 814.70 area and if
possible near 811.60 for obj. near 818.50 - 821 area. (Use a
sell stop and rev. short at 808.50).
Buy stop at 831.30 for obj. near 834 - 836 area.
Buy stop at 838 for obj. near 840.50 - 843 area.
Buy stop at 845 for obj. near 847 - 849 area.
Sell stop at 808.50 for obj. near 805.30 - 801.70
bottom and gap area.
Sell stop at 798 for obj. near 793 - 791.70 area.
Sell stop at 788.50 for obj. near 785.50 - 784.70
area.
Sell stop at 781 for obj. near 777 and possibly
near 772.
Bulletin - Originally sent 03/07/03 (9:43 am est) Long positions were taken at 811 on the opening. Since the market traded below the 811.60 support the obj. is going to change from 818.50 - 821 area to 814 - 816 area. Continue to use a sell stop and rev. short at 808.50. Bulletin - Originally sent 03/07/03 (10:28 am est) Short positions were taken at 822.50 and 827 on this rally. The sell-off down to 820.20 is significant enough to consider taking profits. Exit all short positions at the market and take profits. Results: 03/07/03
The
week in review - 03/10/03 - 03/14/03
The Tech Guru's S & P Day
Trading Recommendations
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P -
For Monday 03-10-03: NOTE: After
each support and resistance listed will designate a value - (very
major) holds the highest importance, then (major), (very
significant), and (significant) is of the least 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. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter or
complete a trade.
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 March contract -
828.40 and 829.40 minor day channels also 830 day top and 830.60 GBX
top (major area) / 834.90 day top to 835.40 day gap
and 836.60 GBX top (major area) / 840.40
major day channel and 840.50 weekly channel also 840.90 weekly and
monthly closing price (very
major area) / 847.20 weekly
closing price and 849.20 minor day channel also 849.50 minor weekly
channel (very major area)
/ 852.50 and 853.40 weekly tops also
854.70 monthly closing price (very
major area) / 860.30 weekly closing price and 861
day top also 863.90 weekly top (major area) / 866.60
GBX top and 867.80 weekly top (very
major area) / 882.50 day top to 883 day gap and
885.50 GBX top (major area) / 889
long-term major day channel and 891.80 long-term major weekly
channel (very major area).
Support: For
the March contract -
827.50 intra-day channel and 826.50 base (major area)
/ 822.50 base and 822 intra-day channel also
821.80 day session closing price (very
major area) / 818.80 and 818.50 base area also
817.70 and 816.50 base area (major area) / 811
newly developed weekly channel also 809.40 newly developed day
channel and 809 weekly bottom (very
major area) / 805.30 weekly bottom and 801.70 day
gap (major area) / 791.70 rev. peak (major)
/ 784.70 long-term major monthly channel
(very major area) /
776.90 lowest day session closing price (major area)
/ 767.50 major weekly bottom (very
major area).
Comments:
The rally on Friday from the support area was
significant but managed to close down for the week and remain inside
the neutral trading area leaving the chart neutral to slightly
bearish. A trade above 840.50 is slightly bullish and a trade
above 849.50 - 852.50 will be considered a breakout for higher
prices to follow. A trade today below 822.50 - 818.80 area is
bearish and a trade below 811 - 809 area can bring prices down to
challenge the 784.70 monthly channel. Remain defensive inside
the 840.50 - 818.80 trading range until a breakout is seen to either
side of the 852.50 - 811 major trading range..
Day
trades: For the March contract -
Aggressive traders can buy dips near 822 - 818.80
area for obj. near 826 - 827.50 area. (Use a sell stop and
rev. short at 814.80).
Aggressive traders can sell rallies near 827.50 -
828.50 area for obj. near 823 - 821.80 area. (Use a buy stop
and rev. long at 832.70).
Aggressive traders can sell rallies near 840 - 841
area for obj. near 836 - 834 area. (Use a buy stop and rev.
long at 843.90).
Sell stop at 814.80 for obj. near 812 - 809.40
area.
Sell stop at 798 for obj. near 793 - 791.70 area.
Sell stop at 788.70 for obj. near 785.70 - 784.70
area.
Buy stop at 832.70 for obj. near 835.40 gap - 836
area.
Buy stop at 843.90 for obj. near 847 - 849 area.
Bulletin - Originally sent 03/10/03 (10:50 am est) Sell stops were hit at 814.80, putting traders into short positions. This area seems to be proving support because of the 811 major upper channel line on both the weekly and daily charts. Short positions are becoming risky at this level. It is recommended for short positions to exit the trade and cut losses. The market is trading at 815 at this time. Results: 03/10/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Tuesday 03-11-03: NOTE: After
each support and resistance listed will designate a
value - (very major) holds the highest importance,
then (major), (very significant), and (significant) is
of the least 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. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to
enter or complete a trade.
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 March contract -
810 and 811.50 intra-day channels also 813 peak (major
area) / 815, 816.80,
817.20 and 818.30 intra-day peaks also 816.60 and
818.40 day channels (very
major area) / 823.30 day top (major)
/ 827 minor day channel and
828.60 weekly closing gap also 830 day top (very
major area) / 834.90 day top to 835.40
day gap and 836.60 GBX top (major area)
/ 838.40 minor day channel and
840.50 weekly channel also 840.90 weekly and monthly
closing price (very
major area) / 847.20
weekly closing price and 848.10 minor day channel also
849.50 minor weekly channel
(very major area) / 852.50
and 853.40 weekly tops also 854.70 monthly closing
price (very major
area).
Support: For
the March contract -
805.70 and 805.30 double bottom
area to 801.70 day gap also 801 minor down channel
(very major area)
/ 791.70 rev. peak (major) / 784.70
long-term monthly channel (very
major area) / 776.90 lowest day
session closing price (major area) / 767.50
major weekly bottom (very
major area) / 758.30
monthly down channel (very
major area) / 747.20
and 736.80 are the long-term major monthly channels
(very major area).
Comments:
The sell-off on Monday proved the
bearishness in the chart formation as described in
Monday's comments leaving the chart at the double
bottom support and defensive for lower prices to
develop. The bottom support can stimulate some
rallies but does not necessarily mean it will hold as
a major support. Only a trade above the 828 -
830 area and again above 840.50 can reverse the
momentum and bring any bullishness back to the chart.
A trade below the 805.30 - 801 area can bring prices
down to challenge the 784.70 monthly channel support
and possibly lower. Remain defensive inside the
818.40 - 801 trading range.
Day
trades: For the March contract -
Aggressive traders can sell rallies
near 810 - 813 area for obj. near 806 - 805.30 and
possibly near 801.70 gap. (Use a protective buy
stop at 814. Do not rev. long).
Aggressive traders can sell rallies
near 816 - 818 area for obj. near 813 - 811 area and
possibly near 810. (Use a buy stop and rev. long
at 821).
Buy stop at 821 for obj. near 824 -
826 area and possibly near 828.
Buy stop at 831.70 for obj. near
834.70 - 836 area and possibly near 838 - 840 area.
Sell stop at 798 for obj. near 794 -
791.70 area.
Sell stop at 788.70 for obj. near
785.70 - 784.70 area.
Bulletin - Originally sent 03/11/03 (10:24 am est) Short positions were taken at 810 - 813 area. The sell-off down to the double bottom at 807.80 - 808 area completes the trade. NOTE: The market continues to remain in bearish territory. Aggressive traders can continue selling rallies anywhere between 813 and 818 area. Bulletin - Originally sent 03/11/03 (10:31 am est) Short positions were taken again at 812.50. The sell-off down to 809 seems worthy enough to take profits and complete the trade. Results: 03/11/03
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P -
For Wednesday 03-12-03: NOTE: After
each support and resistance listed will designate a value - (very
major) holds the highest importance, then (major), (very
significant), and (significant) is of the least 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. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter or
complete a trade.
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 March contract -
800.70 day channel (major) / 804.50
intra-day channel and 805 peak and 805.70 day channel (very
major area) / 807.70 intra-day channel and peak (major
area) / 810.80 peak and 813 minor day channel also 814.50
day top (major area) / 818.60
day channel with GBX prices (very
major area) / 823.30 day top and 825 minor day
channel (major area) / 828.30
GBX top and 828.60 weekly closing gap also 830 day top (very
major area) / 834.90 day top
and 835.40 day gap also major day channel (very
major area) / 840.50 weekly
channel and 840.90 weekly and monthly closing price
(very major area).
Support: For
the March contract -
793.30 minor day channel and 791.70 rev. peak (major area)
/ 784.70 long-term monthly channel (very
major area) / 776.90 lowest
day session closing price and 772.50 major daily down channel
(very major area) / 769.20
major weekly down channel and 768.50 major daily down channel also
767.50 major bottom (very major
area) / 758.30 monthly down
channel (very major area)
/ 747.20 and 736.80 are the long-term major
monthly channels (very major
area).
Comments:
The sell-off on Tuesday materialized as expected
because of the bearish condition. The close below the 801.70
gap area leaves the chart bearish for prices to possibly test
the 784.70 support area. A trade below 784.70 can bring prices
down to the 769.20 - 767.50 area and possibly near the 758.30 -
747.20 support area. A trade today above 805.70 will
challenge the 813 and 818.60 resistance. Only a trade above
818.60 and 825 can bring any bullishness back to the chart.
Remain defensive inside the 805.70 and 791.70 trading range.
Day
trades: For the March contract -
Aggressive traders can sell near 800 - 803 area and
if possible near 805.50 for obj. near 794 - 791.70 area. (Use
a protective buy stop at 808.70. Do not rev. long).
Aggressive traders can sell rallies near 812 and if
possible near 815 - 817 area for obj. near 808.50 - 805.50 area
and possibly near 802. (Use a buy stop and rev. long at
821.60).
Buy stop at 821.60 for obj. near 823.30 - 825 area.
Buy stop at 831 for obj. near 834 - 836 area.
Sell stop at 788.70 for obj. near 785.70 - 784.70.
Sell stop at 781 for obj. near 777 - 775 area and
possibly near 772.50 - 768.50 area.
Bulletin - Originally sent 3/12/03 (10:44 am est) Short positions were taken at 801. The sell-off down to 794 completes the trade. Bulletin - Originally sent 03/12/03 (1:43 pm est) The sell stop was hit at 788.70 putting traders into short positions. The market is proving to have support at this level being that the major support is at 784.70 and can stimulate some rallies. It is recommended for traders to exit the short position at the market and cut losses. The market is trading at 789 at this time. Results: 03/12/03
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P -
For Thursday 03-13-03: NOTE: After
each support and resistance listed will designate a value - (very
major) holds the highest importance, then (major), (very
significant), and (significant) is of the least 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. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter or
complete a trade.
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 March contract -
807.50 day channel also 807.70 and 810.80 peaks (major
area) / 813.80 day channel and
814.50 day top (very major
area) / 822.10 and 823.30 minor day channels also
823.30 day top (major area) / 828.30
GBX and 828.60 weekly closing gap also 830 day top (very
major area) / 833.10 major
day channel and 834.90 day top also 835.40 day gap and 836.60 GBX
top (very major area)
/ 840.50 weekly channel and 840.90 weekly
and monthly price (very major
area) / 847 minor day
channel and 847.20 weekly closing price also 852.50 weekly top (very
major area).
Support: For
the March contract -
803 rev. channel and 801 intra-day channel (major area)
/ 796 and 794.70 base area (major area) / 791.20
base and 788.50 bottom (very
major area) / 784.70
long-term monthly channel (very
major area) / 776.90 lowest day session closing
price (major) / 771 major
daily down channel and 767.50 major bottom also 766.50 daily down
channel (very major area)
/ 758.30 monthly down channel (very
major area) / 747.20 and
736.80 are the long-term major monthly channels (very
major area).
Comments:
The recovery rally from the major support area
removed the bearishness out of the chart leaving it neutral inside
a wide trading range between 833 and 771. The first neutral
range between 813 and 801 is important as well as the 823.40 and
796 neutral range. The market remains very defensive and
subject to a wide trading range and volatile whiplashing.
Conservative traders should step aside and wait for signals of
solid direction.
Day
trades: For the March contract -
If the market opens
above 813, aggressive traders can sell rallies near 820 -
823 area for obj. near 813 and possibly near 811. (Use a buy
stop and rev. long at 824.70).
If the market opens below
813, aggressive traders can sell rallies near 813 for
obj. near 806 - 804 area and possibly near 801. (Use a
protective buy stop at 815. Do not rev. long).
Buy stop at 824.70 for obj. near 827 - 829 area
and possibly near 833.
Sell stop at 798 for obj. near 796 - 794.70 area.
Sell stop at 789 for obj. near 786 - 784.70 area.
Bulletin - Originally sent 03/13/03 (9:43 am est) The rally up to 819 is a double top on the intra-day scale, where short positions were taken. The obj. still remains at 813 - 811 area and the buy stop and rev. long still remains at 824.70. Bulletin - Originally sent 03/13/03 (10:00 am est) Short positions were taken at 818.50. The sell-off down to 813.50 is near enough to the 813 obj. to complete the trade. Bulletin - Originally sent 03/13/03 (2:29 pm est) The buy stop was hit at 824.80 putting traders into long positions. The market is showing some resistance at this level and could possibly prevent the 827 obj. to come to play. It is recommended for traders to exit the long position at the market and cut loses. The market is trading at 823.80 at this time. Results: 03/13/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S & P
- For Friday 03-14-03: NOTE: After
each support and resistance listed will designate a value -
(very major) holds the highest importance, then (major), (very
significant), and (significant) is of the least 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. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter or
complete a trade.
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 -
833.50 day top to 834.40 day gap (major area) /
840 weekly and monthly closing price also
840.50 weekly channel, which still reflects the March contract
(very major area) /
845.10 and 846.50 minor day channels also
846.20 weekly closing price (very
major area) / 849 weekly
channel also 851 and 851.70 weekly tops also 853.70 and 854.70
monthly closing prices (very
major area) / 860 day top and 861 weekly top (major
area) / 866 weekly top (very
major area) / 872 day top (major)
/ 878.20 monthly closing price and 882.10
day gap (very major area).
Support: For
the June contract -
829.50 day channel and 826.20 intra-day base (major
area) / 823.30 and 820.80 intra-day base (major)
/ 817.20 and 816 intra-day base (major area) / 808.70
base and 808.50 day bottom to 804.40 day gap (very
major area) / 795.50 base (major)
/ 790.50 base (major) / 787.50
day bottom and 784.70 long-term monthly channel, which still
reflects the March contract (very
major area).
Comments:
The rally on Thursday from the support area
brought prices up near the very major resistance area found on
the weekly chart at 840.50. A trade above 846.50 area and
a trade above 849 will be considered a breakout and can reverse
the downtrend momentum to the upside. A trade and close
above 854.70 will confirm the uptrend momentum intact for higher
prices to develop. The June chart formation remains inside
a wide trading range between 846.50 and 804.40 that can
stimulate whiplashing to both sides until a breakout is seen to
either side.
Day
trades: For the June contract -
Aggressive traders can sell rallies near 839 -
840 area and if possible near 845 for obj. near 832 - 829.50
area and possibly near 826.20. (Use a buy stop and rev.
long at 855.70). (Conservative traders can use a
protective buy stop at 852. Do not rev. long).
Aggressive traders can buy dips near 829.50 -
826.20 for obj. near 833 - 834 area. (Use a protective
sell stop at 824.70. Do not rev. short).
Aggressive traders can attempt long positions
near 821.50 to 820.80 area, if it gets there, for obj. near 825
- 826 area and possibly near 828. (Use a sell stop and
rev. short at 814.70).
Buy stop at 855.70 for obj. near 858.50 - 861
area.
Buy stop at 869 for obj. near 872 and possibly
near 878 area.
Sell stop at 814.70 for obj. near 811 - 808.50
area and possibly near the 804.40 gap.
Bulletin - Originally sent 03/14/03 (10:16 am est) Long positions were taken at 829.50 and the trade was complete when it met the obj. at 834. Short positions were now taken at 838.70, which was near enough to the 839 sell area. (Continue using the sell stop and rev. long at 855.70). Bulletin - Originally sent 03/14/03 (10:28 am est) Short positions were taken at 838.70. The sell off down to 833.50 is near enough to the 832 obj. and completes the trade. Results: 03/14/03
The
week in review - 03/17/03 - 03/21/03
The Tech Guru's S & P Day
Trading Recommendations
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P -
For Monday 03-17-03: NOTE: After
each support and resistance listed will designate a value - (very
major) holds the highest importance, then (major), (very
significant), and (significant) is of the least 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. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter or
complete a trade.
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 -
834 intra-day channel also 834.80 weekly channel and 835.50 peak (major
area) / 839 and 839.90 day channels also 841 day top (major
area) / 844.20 and 846 minor day
channels also 846.40 minor weekly channel (very
major area) / 851 and 851.70
weekly tops also 853.70 and 854.70 monthly closing prices (very
major area) / 860 day top and 861 weekly top (major
area) / 866 weekly top (very
major area) / 872 day top (major) /
878.20 monthly closing price and 882.10 day
gap (very major area).
Support: For
the June contract -
829.60 base and 827 day bottom (major area) / 822
rev. peak (major) / 818 rev.
peaks also 816 base (very major
area) / 813.80 rev. peak and 808.50 day bottom (major
area) / 804.40 day gap (very
major area) / 795.50 base (major) /
790.50 base (major) / 788
newly developed day channel and 787.50 weekly bottom also 784.70
long-term monthly channel, which still reflects the March contract (very
major area).
Comments:
The trading range and close of Friday left the
chart in neutral condition between the 846 and 813.80 weekly trading
range. The 834 and 839 resistance can also be significant to
stimulate retracements down to the 822 - 804.40 support area.
The neutral condition can stimulate whiplashing to both sides before
a solid direction is seen. A trade above 854.70 will be
considered a breakout for higher prices to develop. A trade
below the 813.80 and 804.40 gap area can bring prices down to
challenge the 784.70 major monthly support channel. Remain
defensive inside the 834 - 822 neutral area and the 846 - 804.40
weekly trading area.
Day
trades: For the June contract -
Aggressive traders can sell near 830 - 834 area for
obj. near 823 - 822 area. (Use a protective buy stop at
835.10. Do not rev.long).
Aggressive traders can buy dips near 822 - 818 area
for obj. near 828 - 831 area. (Use a sell stop and rev. short
at 815.70)
Aggressive traders can sell rallies near 837 -
839.50 area for obj. near 834 - 833 area. (Use a protective
buy stop at 841. Do not rev. long).
Aggressive traders can sell
rallies near 844 - 846 area for obj. near 837 - 835 area and
possibly near 833. (Use a buy stop and rev. long at 855.70).
(Conservative traders can use a buy stop at 848.30. Do not
rev. long).
Aggressive traders can buy dips near 814 - 813.80
area for obj. near 817 - 819 area. (Use a protective sell stop
at 810.80. Do not rev. short).
Buy stop at 855.80 for obj. near 859 - 861 area.
Buy stop at 869 for obj. near 872 - 875 area.
Sell stop at 799 for obj. near 795.50 area and
possibly near 788.
Results: 03/17/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S &
P - For Tuesday 03-18-03: NOTE: After
each support and resistance listed will designate a value -
(very major) holds the highest importance, then (major), (very
significant), and (significant) is of the least 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. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter or
complete a trade.
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 -
866 weekly top (very
major) / 872 day top (major)
/ 875 and 876 rev. base to 882.10 day
gap (very major area)
/ 886.20 major weekly channel and 888.50
day top (very major area)
/ 902.40 weekly closing price and 904
weekly top (very major
area) / 909.50 weekly
channel (very major area).
Support: For
the June contract -
859.80 base and 859 intra-day channel also 858 base (major
area) / 856 and 855 base (major area)
/ 852.50, 851.50 and 849.50 base areas (major area)
/ 844 and 841 rev. peak also 841
intra-day channel (very
major area) / 838.30 day
channel (very major area)
/ 833.30 day channel with GBX prices and
833.10 weekly closing price (very
major area) / 825.60 day bottom and 821.90 GBX
bottom (major area) / 813.80 rev. peak (major
area) / 808.50 day bottom to
804.40 day gap (very
major area).
Comments:
The rally and close on Monday brought
prices above the major resistances putting the chart in
bullish territory. A trade above the 866 weekly top can
bring prices up to challenge the 872 day top to 882.10 day gap
area and possibly near the 886.20 major weekly channel
resistance. The 886.20 major resistance is a very
significant area and the overbought conditions can prove to be
significant enough to stimulate selling for retracements to
the downside. Only a trade below 833.10 today can bring
any bearishness back to the chart. Remain defensive
inside the 872 - 841 neutral trading range.
Day
trades: For the June contract -
Aggressive traders can sell rallies near
866 and if possible near 870 - 872 area for obj. near 860 -
859 area. (Use a buy stop and rev. long at 873.70).
Aggressive traders can buy dips near 859 -
858 area for obj. near 862 - 864 area. (Use a sell stop
and rev. short at 856).
Aggressive traders can buy dips near 841 -
839 area and if possible near 835 - 833.30 area for obj. near
845 - 847 area and possibly near 851. (Use a sell stop
and rev. short at 830).
Buy stop at 873.70 for obj. near 876 and
possibly near 880 - 882.10 gap area.
Sell stop at 856 for obj. near 844 - 841 area
and possibly near 839.
Sell stop at 830 for obj. near 826 - 825 area
and possibly near 822.
Bulletin - Originally sent 03/18/03 (9:46 am est)
Short positions were taken at 865.50. The sell-off down to
860.20 is near enough to the 860 obj. to complete the trade.
Bulletin - Originally sent 03/18/03 (10:10 am est)
The sell-stop was hit at 856, putting traders into short
positions. The market is showing support at this area for
traders to exit and cut losses. The market is trading at 858
at this time.
Bulletin - Originally sent 03/18/03 (10:11 am est)
Aggressive traders can use a sell stop at 850 for an obj. near 844
- 841 area.
Bulletin - Originally sent 03/18/03 (10:51 am est)
The long positions taken at 858 is now complete with the rally at
863.
Aggressive traders can attempt short positions again at 863 area
for an obj. near 859 - 858 area. (Continue to use a buy stop
and rev. long at 873.70).
Bulletin - Originally sent 03/18/03 (10:59 am est)
Short positions were taken at 863. The sell-off down to
859.50 is near enough to the 859 obj. to complete the trade.
It is not recommended to attempt long positions at the 859 area.
Aggressive traders can now use a sell stop for short positions at
854 instead of 850.
Results: 03/18/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Wednesday 03-19-03: NOTE: After
each support and resistance listed will designate a
value - (very major) holds the highest importance, then
(major), (very significant), and (significant) is of the
least 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. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to
enter or complete a trade.
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 -
872 day top and 874.30 long-term
major day channel also 875
and 876 rev. base (very
major area) / 882.10 day gap (major)
/ 886.20 major weekly channel and
888.50 day top (very
major area) / 902.40
weekly closing price and 904 weekly top (very
major area) / 908
day top and 909.50 weekly channel
(very major area) / 911.50 rev.
base and 915.90 day gap (major area).
Support: For
the June contract -
860.30 base and intra-day channel (major area)
/ 859.20, 858.80 and 857.50 base also 856 day bottom (major
area) / 851 day channel
also 851.70 and 851 rev. peaks (very
major area) / 844.80
day channel with GBX prices (very
major area) / 841 rev. peak also 840
monthly closing price (major area) / 833
weekly closing price (very
major area) / 825.60 day bottom and
821.90 GBX bottom (major area).
Comments:
The key reversal rally from last
weeks support brought prices up to a very critical
resistance area at 874.30, which is the major down
channel on the daily chart, that can prove to be
significant enough to hold back any further rallies.
A trade above 874.30 can bring prices up to challenge
the 886.20 major weekly channel. The
overbought condition and the two major resistances can
be solid enough to stimulate selling for a substantial
retracement to the downside. A trade
above 886.20 - 888.50 area will be considered a breakout
for higher prices to develop. A trade today below
851 is slightly bearish but only a trade below 844.80
can bring any solid bearishness back to the chart.
Remain defensive inside the 874.30 - 851 trading range.
Day
trades: For the June contract -
Aggressive traders can sell rallies
near 867 - 870 area and if possible near 874.30 for obj.
near 862 - 860.30 area. (Use a buy stop and rev.
long at 877.30).
Aggressive traders can buy dips near
853 - 851 area for obj. near 856 - 858 area. (Use
a sell stop and rev. short at 848).
Buy stop at 877.30 for obj. near 880 -
882.10 gap area and possibly near 886.20.
Sell stop at 857 for obj. near 853 -
851 area.
Sell stop at 848 for obj. near 845.50 -
844.80 area.
Sell stop at 838 for obj. near 835 -
833 area.
Bulletin - Originally sent 03/19/03 (11:09 am est)
Short positions were taken at 868.50. The double
bottom sell-off at the 865 is showing signs of support at
this time for traders to consider taking profits.
Exit near 865.50 and take profits.
Results: 03/19/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Thursday 03-20-03: NOTE: After
each support and resistance listed will designate a
value - (very major) holds the highest importance, then
(major), (very significant), and (significant) is of the
least 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. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to
enter or complete a trade.
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 -
873.30 newly developed long-term
major day channel and 874.50 day top also 875 and 876
rev. bases (very
major area) / 882.10 day gap (major)
/ 886.20 major weekly channel and
888.50 day top (very
major area) / 902
day channel and 902.40 weekly closing price also 903.10
weekly closing price (very
major area) / 904 day top and 905.50
weekly top (major area) / 907.30
GBX weekly top and 908 day top also 909.50 weekly
channel (very major
area) / 932.50
weekly top and 936.50 GBX weekly top (very
major area) / 944
long-term major weekly channel (very
major area).
Support: For
the June contract -
871.80 intra-day channel and 871.50 base (major
area) / 867.20 base (major) / 864.40
minor day channel and 863.70 day channel also 862.70
base and 860.30 day bottom (very
major area) / 857.50
base and 856.30 day channel with GBX prices also 856 day
bottom (very major
area) / 851.70 and 851 rev. peaks
also 849.50 and 849 bases (major
area) / 841 rev. peak also 840 monthly closing
price (major area) / 833
weekly closing price (very
major area) / 825.60
day bottom and 821.90 GBX bottom (very
major area).
Comments:
The follow-through rally on Wednesday
managed to bring prices up to the major resistance at
874.50. A trade above 874.50 can bring prices up
to challenge the 882.10 gap and possibly near the 886.20
weekly channel resistance, which can prove to be
significant enough to hold back any further rallies for
a while. A trade above the 886.20 - 888.50 area
will be considered a breakout for higher prices to
develop. A trade today below 864.60 is slightly
bearish but a trade below the 856.30 channel and 856
bottom can bring prices down to challenge the 851 rev.
peak and possibly near the 841 - 840 monthly close.
Remain defensive inside the wide trading range between
886.20 and 856.30 area and also inside the neutral range
between 882.10 gap and 864.60 channel support.
Day
trades: For the June contract -
Aggressive traders can sell rallies
near 879 - 882.10 gap area and if possible near 886.20
for obj. near 868.50 - 867.20 area and possibly near
864.60. (Use a buy stop and rev. long at 891.70).
Aggressive traders can buy dips near
865 - 864.60 area and if possible near 863.70 for obj.
near 867 - 868.50 area. (Use a protective sell
stop at 861.70. Do not rev. short)
Aggressive traders can buy dips near
857.70 - 856.30 area for obj. near 860 - 862 area and
possibly near 865. (Use a sell stop and rev. short
at 854.70).
Buy stop at 891.70 for obj. near 895 -
897 area and possibly near 902.
Sell stop at 869.50 for obj. near
865.50 - 864.60 area.
Sell stop at 854.70 for obj. near
851.70 - 851 area and possibly near 849.50.
Sell stop at 847 for obj. near 844 -
841.50 area and possibly near 841.
Bulletin - Originally sent 03/20/03 (10:02 am est)
Short positions were taken on a sell stop at 869 this
morning and completed with the sell-off down to 865.50.
Long positions were taken at 864.60. The double
top at 866 proved to show resistance where long
positions were liquidated and profits were taken.
Any traders still long in this positions can continue to
use the protective sell stop at 861.70.
Bulletin - Originally sent 03/20/03 (10:33 am est)
The sell off down to 857.50 put traders into long
positions. The rally up to 859.80 is near enough
to 860 and completes the trade.
Bulletin - Originally sent 03/20/03 (2:19 pm est)
The rally put traders into short positions at 879.
The sell-off down to 873 is worthy enough to take
profits due to the chart formation at this time.
Traders still holding short positions should exit near
875 and take profits.
Results: 03/20/03
A TECHNICAL
GUIDE FOR DAY TRADING THE S & P
S
& P - For Friday 03-21-03: NOTE: After
each support and resistance listed will designate
a value - (very major) holds the highest
importance, then (major), (very significant), and
(significant) is of the least 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. The word NEAR can
be 1/2 to 1 point from a price listed in any trade
to enter or complete a trade.
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 -
875.50 and 876 intra-day channels also 876.50 and
877 peaks (major area) / 878.10
newly developed day channel and 879.20 day top
(very major area)
/ 882.10 day gap (major) / 886.20
major weekly channel and 888.50 day top (very
major area) / 901
major day channel and 902.40 weekly closing price
in the June contract also 903.10 weekly closing
price on the weekly chart (very
major area) / 904 day top and
905.50 weekly top (major area) / 907.30
GBX weekly top and 908 day top also 909.50 weekly
channel (very
major area) / 911.50 rev. base and
915.90 day gap (major area) / 924.50
day top and 926 weekly closing price (very
major area) / 930.50
day top and 933.50 June's weekly top also 932.50
weekly charts top and 936.50 GBX weekly top
(very major area).
Support:
For the June contract -
874 intra-day channel and 872 rev. major channel (major
area) / 870.70 base
and 869.40 newly developed day channel also 867.80
day channel with GBX prices (very
major area) / 858.20 minor day
channel and base also 857.50 and 856 day bottoms (major
area) / 851.70 and 851 rev. peaks also
849.50 and 849 bases (major area)
/ 841 rev. peak and 840 monthly closing price (major
area) / 833 weekly
closing price (very
major area) / 825.60
day bottom and 821.90 GBX bottom (very
major area).
Comments:
The rally from the support area
on Thursday brought prices up near a very critical
resistance at 882.10 gap, 886.20 weekly channel
and 888.50 top. A trade above 886.20 -
888.50 area will be considered a breakout for
higher prices. It is possible for this
resistance to hold back rallies and stimulate
selling pressure for retracements down.
A trade today below 869.40 and 867.80 is
slightly bearish but a trade below 858.20 - 856
area can challenge the 849 - 840 area again.
Remain defensive inside the 886.20 - 867.80
trading range.
Day
trades: For the June contract -
Aggressive traders can sell
rallies near 882.10 - 886.20 area for obj. near
872 - 869.40 area. (Use a buy stop and rev.
long at 892).
Aggressive traders can buy dips
near 868.50 - 867.80 area for obj. near 870.50 -
871.50 area. (Use a sell stop and rev. short
at 864.80).
Aggressive traders can attempt long
positions near 859 - 858.50 area for obj.
near 862 - 864 area. (Use a sell stop and
rev. short at 854).
Buy stop at 892 for obj. near 895
- 898 area and possibly near 900.
Sell stop at 864.80 for obj. near
860 - 858.50 area.
Sell stop at 854 for obj. near
851 - 849.50 area.
Bulletin - Originally sent 03/21/03 (10:04 am est)
Short positions were taken at 885. The sell-off
down to 779 is worthy enough for daytraders to take
profits instead of waiting for 872.
Aggressive traders can continue holding short
positions for the 872 obj. is they wish. The
results will show profits taken at 880, which is
where the market is trading at this time.
Bulletin - Originally sent 03/21/03 (10:19 am est)
This bulletin is provided for a long-term position
trade. Aggressive traders can attempt short
positions in this 882 - 886 area and continue to use a
protective buy stop at 892. The obj. is for the
market to have a 50% retracement, which can bring
prices down to the 840 - 825 area.
Bulletin - Originally sent 03/21/03 (12:00 pm est)
Due to the significance of the 886.20 - 888.50
resistance the sell at 886 put traders into short
positions again. The obj. remains at 872 - 868
area. Continue to use a buy stop and rev. long
at 892.
Bulletin - Originally sent 03/21/03 (1:07 pm est)
The buy stop was hit at 892 putting traders into long
positions. The market is showing resistance at
this area and is stimulating a sell-off.
It is recommended to exit long positions at the market
and cut loses. The market is trading at 888 at
this time.
Results: 03/21/03
The
week in review - 03/24/03 -
03/28/03
The Tech Guru's S & P Day
Trading Recommendations
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P -
For Monday 03-24-03: NOTE: After
each support and resistance listed will designate a value - (very
major) holds the highest importance, then (major), (very
significant), and (significant) is of the least 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. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter or
complete a trade.
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 -
895 newly developed day channel and 895.70 weekly top (major
area) / 900.50 major day channel and
902.40 weekly closing price (very
major area) / 904 day top and
906.50 weekly channel (very
major area) / 908 day top and 909.40 weekly closing
price (major area) / 911.50 rev. base and
exhaustion gap (major area) / 915.90 day gap (major
area) / 924.50 day top and 926 weekly
closing price (very major area)
/ 930.50 day top and 933.50 June's weekly top
also 932.50 weekly charts top (very
major area) / 935.30 monthly
closing price and 936.50 GBX weekly top also 939.50 long-term weekly
channel (very major area)
/ 953.30 June contract's weekly top also
954.50 weekly charts major top (very
major area).
Support: For
the June contract -
888.70 intra-day channel and base also 884.30 base (major
area) / 881.20 day channel and 880.50
intra-day channel also 878.80 day channel and 877 rev. channel (very
major area) / 876.50 day
bottom also 874.80 day gap and 874.20 base (very
major area) / 870.70, 869 and 865.50 base areas (major
area) / 859.50 minor day channel also
857.50 and 856 day bottoms also 856.30 weekly channel (very
major area) / 851.70 and 851 rev. peaks (major
area) / 842 intra-day gap and 841
rev. peak also 840 monthly closing price (very
major area).
Comments:
The rally and close on Friday brought prices up
above the first major weekly channel, which is bullish but faces the
next major resistance at 900.50 on the daily chart and 906.50 on the
weekly chart that can prove to be significant enough to reverse the
market for a retracement down. A trade above 906.50 will be
considered a breakout and can rev. the major trend to the upside.
A trade above 939.80 will confirm a reversal of the long
term major trend to the up-side for higher prices. A
trade today below 881 - 876.50 area is bearish and can bring prices
down near the 859.50 - 856 area again. Remain defensive
between the 895 - 881 neutral range and the 900.50 - 856.30 wide
weekly charts range.
Day
trades: For the June contract -
Aggressive traders can buy dips near 879 -
876 area for obj. near 884 and possibly near 888 area. (Use a
sell stop and rev. short at 873).
Aggressive traders can sell rallies near 899 -
900.50 area and if possible near 902 area for obj. near 897 - 895
area. (Use a buy stop and rev. long at 910).
Aggressive traders can buy dips near 859 - 856.30
area for obj. near 864 - 866 area. (Use a sell stop and rev.
short at 853.30).
Sell stop at 873 for obj. near 870.50 - 869 area.
Sell stop at 853.30 for obj. near 851 - 849.50
area.
Sell stop at 847 for obj .near 844 - 842 area and
possibly near 840.
Buy stop at 910 for obj. near 911.50 - 914 area and
possibly near 915.90 day gap.
Buy stop at 919 for obj. near 923 - 926 area.
Results: 03/24/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S &
P - For Tuesday 03-25-03: NOTE: After
each support and resistance listed will designate a value -
(very major) holds the highest importance, then (major), (very
significant), and (significant) is of the least 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. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter or
complete a trade.
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 -
865.50 peak and 866.20 intra-day channel (major area)
/ 868.50 and 869.50 peaks also 870.80 peak (major
area) / 873.90 and 875.50 peaks (major
area) / 878.30 day top (very
major area) / 885.70 GBX top (major)
/ 893.20 weekly closing gap and 895
weekly channel also 895.70 weekly top (very
major area) / 900 major
day channel and 902.40 weekly closing price (very
major area) / 904 day
top and 906.50 weekly channel (very
major area) / 908 day top and 909.40 weekly
closing price (major area) / 911.50 rev.
base and exhaustion gap (major area) / 915.90
day gap (major) / 924.50
day top and 926 weekly closing price (very
major area).
Support: For
the June contract -
860.50 day bottom and 860 minor day channel (major
area) / 857.50 and 856 day
bottoms also 856.30 weekly channel (very
major area) / 851.70 and 851 rev. peak also
849.50 and 849 base (major area) /
842 base and 841 rev. peak also 840 monthly closing price
(very major area)
/ 833.10 weekly closing price (major area) / 825.60
day bottom and 821.90 GBX bottom (very
major area) / 813.80 rev. peak (major)
/ 818.50 day bottom and 804.40 day gap (very
major area).
Comments:
The sell-off on Monday from the overbought
condition and resistance area came to no surprise, bringing
prices down near the major support area, which can now
stimulate some buying for a bounce to the upside. A
trade below the major support at 856.30 - 856 area is bearish
and can bring prices down to challenge the 851 and 841 support
areas and possibly near 833.10. A trade today above
868.50 is slightly bullish but a trade above the 878.30 top
can bring prices up to challenge the 893.20 gap - 895 area and
possibly near the 900 day channel. A trade above 906.50
will be considered a breakout for higher prices to develop.
Remain defensive inside the 878.30 - 856 trading range.
Day
trades: For the June contract -
Aggressive traders can buy dips near 862 -
860 area and if possible near 856.30 for obj. near 866 -
868.50 area. (Use a sell stop and rev. short at 853).
Aggressive traders can sell rallies near 875
- 878 area for obj. near 870.50 - 869.50 area. (Use a
buy stop and rev. long at 881.70).
Buy stop at 881.70 for obj. near 885.70 - 887
area and possibly near 890.
Buy stop at 910 for obj. near 914 - 915.90
gap area.
Sell stop at 853 for obj. near 851 - 849.50
area.
Sell stop at 846.50 for obj. near 842.50 -
841 area.
Bulletin - Originally sent 03/25/03 (11:50 am est)
Short positions were taken at 875. The sell off down to
872 is showing some support at this time for traders to consider
taking profits. Exit short positions at the market
and take profits. The market is trading at 872 at this
time.
Results: 03/25/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Wednesday 03-26-03: NOTE: After
each support and resistance listed will designate a value
- (very major) holds the highest importance, then (major),
(very significant), and (significant) is of the least
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. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to
enter or complete a trade.
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 -
872.90 GBX channel also 873.50 intra-day channel and 875
peak (major area) / 877.80
intra-day gap and 879.30 day top (very
major area) / 884.30 rev. base and 885.70
GBX top (major area) / 893.20
weekly closing gap and 893.40 day channel also 895.70
weekly top (very
major area) / 889.10
major day channel and 902.40 weekly closing price (very
major area) / 904
day top and 906.50 weekly channel
(very major area) / 908 day top
and 909.40 weekly closing price (major area)
/ 911.50 rev. base and exhaustion gap (major area)
/ 915.90 day gap (major) / 924.50
day top and 926 weekly closing price (very
major area).
Support: For
the June contract -
869.70 day channel and 868.80 intra-day channel also
869.60 and 867.50 base (major area) / 863.60
day channel with GBX prices and 862.80 minor channel also
861.50 day bottom (very
major area) / 856.30
weekly channel and 856 double bottom (very
major area) / 851.70 and 851 rev. peaks
and 849.50 base (major area) / 841.60
is the 50% retracement area also 840 monthly closing
price (very major
area).
Comments:
The rally on Tuesday from the major
support was significant but it left the chart neutral
inside a narrow trading range between 879 .30 - 868.80.
The weekly range still remains between 906.50 and 856.30.
A trade above 906.50 will be considered a breakout for
higher prices to develop. A trade below 856 will
fail the major support and can challenge the 50%
retracement area at 841.60. Remain defensive inside
the 879.30 - 868.80 neutral range until a breakout is seen
to either side.
Day
trades: For the June contract -
Aggressive traders can sell rallies near
876 - 878 area or buy dips near 870 - 868.80 area,
whichever side comes first to complete the trade.
(Use a buy stop and rev. long at 882.30). (Use a
sell stop and rev. short at 866.70).
Buy stop at 882.30 for obj. near 885.70 -
887 area and possibly near 890.
Buy stop at 903 for obj. near 905 -
906.50 area.
Buy stop at 910 for obj. near 911.50 -
914 area and possibly near 915.90 gap.
Sell stop at 866.70 for obj. near 864.60
- 863.60 area.
Sell stop at 853 for obj. near 851 -
849.50 area.
Sell stop at 847 for obj. near 843 -
841.60 area.
Bulletin - Originally sent 03/26/03 (0:53 am est)
Long positions were taken at 869.50. The market is
showing resistance at the 872 level at this time, where
traders should consider taking profits. It is
recommended for traders to exit at the market.
Bulletin - Originally sent 03/26/03 (2:15 pm est)
The sell stop was hit at 866.70 that put traders
into short positions. The sell-off down to 865 is near
enough to the 864.60 obj., which completes the trade.
NOTE: The major support at 863.60 is
significant enough to stimulate some rallies.
Traders still holding short positions should consider exiting
the trade before losses occur.
Results: 03/26/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Thursday 03-27-03: NOTE: After
each support and resistance listed will designate a value
- (very major) holds the highest importance, then (major),
(very significant), and (significant) is of the least
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. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to
enter or complete a trade.
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 -
868.80 day channel and 870.50
intra-day channel also 871.70 minor day channel (very
major area) / 875.50 and 879.30 day tops (major
area) / 884.30 rev. base and 885.70 GBX top (major
area) / 892.60 day channel
and 893.20 weekly closing gap also 895.70 weekly top
(very major area)
/ 898.50 major day channel and
902.40 weekly closing price (very
major area) / 904
day top and 906.50 weekly channel (very
major area) / 908 day top and 909.40
weekly closing price (major area) /
911.50 rev. base to 915.90 day gap (major area)
/ 924.50 day top and 926 weekly
closing price (very
major area).
Support: For
the June contract -
865 day bottom and 864.20 minor channel (major
area) / 861.50 minor day
channel also 861.50 and 860.50 day bottoms (very
major area) / 856 double bottom (major
area) / 851.70 and 851 rev. peaks also 849.50
base (major area) / 841.60
is the 50% retracement area also 840 monthly closing price
(very major area)
/ 833.10 weekly closing price (major) / 825.60
day bottom and 821.90 GBX bottom (very
major area).
Comments:
Wednesday's trading range remains
inside the neutral area but managed to close at the lower
end of the range and down for the day. This leaves
the chart in neutral to slightly bearish condition for
prices to possibly reach down to the 50% retracement
area at 841.60. A trade above 868.80 - 871.70 area
is slightly bullish but only a trade above the 898.50 day
channel can bring any solid bullishness back to the chart.
Remain defensive inside the 868.80 - 856 trading range.
Day
trades: For the June contract -
Aggressive traders can buy dips near
861.50 - 860.50 area for obj. near 864 - 865 area and
possibly near 868. (Use a sell stop and rev. short
at 853). (Conservative traders can use a protective
sell stop at 855.70. Do not rev. short).
Aggressive traders can sell rallies near
868 - 871 area for obj. near 864 - 861.50 area. (Use
a buy stop and rev. long at 880.70). (Conservative
traders can use a protective buy stop at 876. Do not
rev. long).
Buy stop at 880.70 for obj. near 884 -
885 area and possibly near 888.
Sell stop at 853 for obj. near 851 -
849.50 area.
Sell stop at 847 for obj. near 844 -
841.60 area and possibly near 840.
Bulletin - Originally sent 03/27/03 (10:30 am est)
Short positions were taken at 861 at the opening. The
market sold off proving the bearish condition for traders to
consider exiting the long position.
It is recommended for traders to exit long positions near
861 and scratch the trade. Rallies up to the 868 level
will still be considered a selling area if it gets there.
Bulletin - Originally sent 03/27/03 (3:57 pm est)
Short positions were taken at 868 and 871. The
sell-off down to 865 is near enough to the 864 obj. to
exit the short positions and take profits.
Results: 03/27/03
A TECHNICAL
GUIDE FOR DAY TRADING THE S & P
S
& P - For Friday 03-28-03: NOTE: After
each support and resistance listed will
designate a value - (very major) holds the
highest importance, then (major), (very
significant), and (significant) is of the least
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. The word NEAR can
be 1/2 to 1 point from a price listed in any
trade to enter or complete a trade.
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
-
867.70 day channel and 869 peak (major
area) / 870.30
and 871.10 minor day channels also 871.50
intra-day channel and 873.30 day top (very
major area) / 875.50 day top (major)
/ 879.30 day top (major) /
885.70 GBX top (major) / 891.80
day channel and 893.20 weekly closing gap (very
major area) / 895.70
weekly top and 898 major day channel (very
major area) / 902.40 weekly
closing price and 904 weekly top (major
area) / 906.50
weekly channel (very
major area).
Support:
For the June contract
-
866.50 intra-day channel and 865.50 base (major
area) / 862.90
weekly developed day channel also 861 and 860.50
base (very
major area) / 857.50
base and 856.60 day bottom also 856 double
bottom (very
major area) / 851.70 and
851 rev. peaks also 849.50 base (major)
/ 841.60 is the 50%
retracement area also 840 monthly closing price (very
major area) / 833.10 weekly
closing price (major) / 825.60
day bottom and 821.90 GBX bottom (very
major area).
Comments:
The whiplashing action on
Thursday proved the neutral condition and still
remains inside the 879.30 - 856 trading range.
A trade above 879.30 can challenge the 891.80 -
893.20 gap and possibly near 898. A trade
above 906.50 will be considered a breakout and
can confirm the major trend up. A
trade below 856 will fail the major support and
can bring prices down to challenge the 50%
retracement area at 841.60 and possibly lower.
Remain defensive inside the 871.50 - 862.90
first neutral range and also the 879.30 - 856
second neutral range.
Day
trades: For the June contract -
Aggressive traders can buy dips
near 862.90 - 861 area for obj. near 866 -
867 area. (Use a sell stop and rev. short
at 853).
Aggressive traders can sell
rallies near 870 - 873 area for obj. near 866 -
864 area. (Use a buy stop and rev. long at
883).
Sell stop at 853 for obj. near
851 - 849.50 area.
Sell stop at 847 for obj. near
844 - 841.60 area.
Buy stop at 883 for obj. near
886 - 888 area and possibly near 890.
Buy stop at 901 for obj. near
904 - 906.50 area.
Bulletin - Originally sent 03/28/03 (9:53 am est)
Long positions were taken at 861. The rally
up to 864.50 is proving to show resistance for
traders to consider exiting the long position and
taking profits. It is recommended for
traders to exit long positions near 863 - 864 area
and take profits.
Bulletin - Originally sent 03/28/03 (12:04 pm est)
Short positions were taken at 869 after the double
top formation. The sell-off down to 865.30
meets the obj. and completes the trade.
Results: 03/28/03
HYPOTHETICAL
PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED
BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO
ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY
SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL
RESULTS ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.
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