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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.
 

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

Bulletin - Originally sent 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

Sold @ 848                Bought @ 840.10          = + $1,975.00
Bought @ 839.20        Sold @ 842.50             = + $   825.00
Sold @ 833.40            Bought @ 832.40         = + $   250.00
TOTAL (P & L)                                                 + $3,050.00
 
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.
 

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

Bulletin - Originally sent 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

Sold @ 834.90            Bought @ 831         = + $   975.00
TOTAL (P & L)                                             + $   975.00
 
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.
 

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

Bulletin - Originally sent 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

Bought @ 820          Sold @ 821.30         = + $   325.00
TOTAL (P & L)                                           + $   325.00
 
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.
 

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

Bulletin - Originally sent 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

Bought @ 823          Sold @ 824.50         = + $   375.00
TOTAL (P & L)                                           + $   375.00
 
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.
 

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

Bulletin - Originally sent 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

Bought @ 811         Sold @ 814              = + $   750.00
Sold @ 822.50        Bought @ 820.20      = + $   575.00
Sold @ 827             Bought @ 820.20      = + $1,700.00
TOTAL (P & L)                                           + $3,025.00
 
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.
 

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

Bulletin - Originally sent 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

Bought @ 820.20       Sold @ 814.80        = -  $1,475.00
Sold @ 814.80           Bought @ 814.80    =    $     -0-    
TOTAL (P & L)                                            -  $1,475.00
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.
 

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

Bulletin - Originally sent 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

Sold @ 811               Bought @ 808        = + $   750.00
Sold @ 812.50          Bought @ 809         = + $   875.00
TOTAL (P & L)                                           + $1,625.00
 
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.
 

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

Bulletin - Originally sent 3/12/03 (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

Sold @ 801               Bought @ 794         = + $1,750.00
Sold @ 788.70          Bought @ 789.70     = -  $   250.00
TOTAL (P & L)                                           + $1,500.00
 
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. 
 

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

Bulletin - Originally sent 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

Sold @ 818.50                Bought @ 813.50         = + $1,250.00
Bought @ 824.50            Sold @ 824                  = -  $  125.00     sold as per bulletin
TOTAL (P & L)                                                      + $1,125.00
 
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.