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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 - 03/31/03 - 04/04/03
The Tech Guru's S & P Day
Trading Recommendations
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P -
For Monday 03-31-03: 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 -
864, 865 and 866 peaks also 864.40 day channel and 865.90 minor day
channel (major area) / 869.40 day top and 869.60
GBX top also 872.20 day session closing price (major area)
/ 873.30 day top and 875.50 day top (major area) / 879.30
day top (very major area)
/ 885.70 GBX top (major) / 891
day channel and 891.20 weekly channel and 893.20 weekly closing gap (very
major area) / 895.70 weekly
and 897 major day channel (very
major area) / 902.40 weekly
closing price and 903 weekly channel also 904 weekly top (very
major area) / 908 to 911.50 exhaustion gap (major
area) / 915.90 day gap (very
major area).
Support: For
the June contract -
861.80 minor day channel and 859.20 day bottom
(very major area) /
856.60 and 856 double bottom (major area) / 851.70
and 851 rev. peak and 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 (very
major) / 825.60 day bottom and 821.90
GBX bottom (very major area)
/ 808.50 day bottom to 804.40 day gap (very
major area) / 798.90 lowest day session closing
price (major area).
Comments:
The sell-off on Friday managed to close down for
the third day in a row leaving the chart in neutral to bearish
condition and subject to challenge the 851 and 841.60 area, which is
the 50% retracement between the high and low of the entire trading
range. A trade below 840 will hold the bearishness for prices
to challenge the 833.10 - 825.60 area and possibly near the 804.40
day gap. At this time, a trade above 879.20 is slightly
bullish but only a trade above the 903 weekly channel can bring any
solid bullishness back to the chart. Remain defensive inside
the wide trading range between 879.20 and 841.60 area.
Day
trades: For the June contract -
If the market opens below 853,
aggressive traders can sell rallies near 853 - 856 area for
obj. near 844 - 841.60 area. (Use a protective buy stop and
860. Do not rev. long).
Aggressive traders can attempt long positions near
842.50 - 841.60 area and if possible near 840 for obj. near 847 -
849.50 area. (Use a sell stop and rev. short at 837).
Aggressive traders can sell rallies near 862 - 864
area and if possible near 866 for obj. near 860 - 858 area.
(Use a buy stop and rev. long at 870.20).
Buy stop at 870.20 for obj. near 873.20 - 875.50
area.
Buy stop at 883 for obj. near 887 - 890 area.
Sell stop at 837 for obj. near 833.50 - 833 area.
Sell stop at 830 for obj. near 826 and possibly
near 821.90.
Bulletin - Originally sent 03/31/03 (1:50 pm est) Long positions were taken at 842 this morning. The rally up to 847 - 849 area completes the trade. The 853 - 856 area was a selling area from this morning. At this time the trade is to be cancelled or changed to a higher sell area. The 50 % retracement support at 841.60 is proving to be supportive enough to possibly bring prices higher. Aggressive traders can attempt short positions near the 856 - 859 area for obj. near 853 - 851. (use a protective buy stop at 866.90. Do not rev long). The buy stop at 870.20 still remains the area to rev. long. NOTE: The 862 - 864 is still considered a selling area. The obj. will now be change to 858 - 856 at this time. If the 862 - 864 area is hit then exit all short positions, including the first ones taken at 856 - 859. Exit all near 858 - 856 area. Results: 03/31/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S &
P - For Tuesday 04-01-03: 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 -
849.80 GBX channel (major) / 855 intra-day
channel and 855.90 peak (major area) / 857
day top and 859.20 day channel also 859.70 GBX top (very
major area) 862.90
weekly closing gap and 864.30 minor day channel (very
major area) / 869.40 day top and 869.60 GBX
top (major) / 873.30 day top (major)
/ 875.70 weekly channel and 875.50 day
top (very major)
/ 879.30 weekly top (very
major area) / 885.70 GBX top (major)
/ 890 day channel and 891.20 weekly
channel also 893.20 weekly closing gap (very
major area).
Support: For
the June contract -
845.60 newly developed day channel and 843 minor channel (major
area) / 841.50 bottom and also
is the 50% retracement area and 840 monthly closing price
(very major area)
/ 833.10 weekly closing price (very
major) / 825.60 day bottom (major)
/ 821.90 GBX bottom (very
major area) / 808.50 day
bottom to 804.40 day gap (very
major area) / 798.90 lowest day session
closing price (major area).
Comments:
The whiplashing action inside the neutral
50% retracement area proves to show uncertainty in direction
and can likely continue the whiplashing action trading inside
the 862.90 - 840 range until a breakout to either side can
develop. Remain defensive inside the first neutral range
between 859.20 and 843.
Day
trades: For the June contract -
Aggressive traders can sell rallies near 853
- 855 area for obj. near 849 - 847 area. (Use a
protective buy stop at 860. Do not rev. long).
Aggressive traders can buy dips near 846 -
843 area for obj. near 849 - 851 area. (Use a sell stop
and rev. short at 837).
Aggressive traders can attempt short positions
at 862 - 864 area for obj. near 857 - 855 area. (Use a
buy stop and rev. long at 865.30).
Buy stop at 865.30 for obj. near 868.30 -
869.30 area.
Buy stop at 880.70 for obj. near 885 - 888
area.
Sell stop at 837 for obj. near 833 and
possibly near 828 area.
Sell stop at 818.70 for obj. near 812.70 -
809 area.
Results: 04/01/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Wednesday 04-02-03: 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 -
858.50 minor day channel (major) / 860.50
day top and 861.30 minor day channel (major area)
/ 862.90 weekly channel and 862.90
weekly closing gap (very
major area) / 869.40 day top and 869.60
GBX top (major area) / 873.30 day top (major)
/ 875.50 day top and 875.70 weekly
channel with GBX prices (very
major area) / 879.30 weekly top (major)
/ 885.70 GBX weekly top and 886.60
weekly channel also 889.50 major day channel (very
major area) / 893.20
weekly closing gap and 895.70 weekly top also 896 major
day channel (very
major area) / 902.40
weekly closing price and 903 major weekly channel (very
major area).
Support: For
the June contract -
885.50 base (major) / 853.50 intra-day
channel and 852.50 base (major area) / 849
day channel (very
major area) / 847.80
and 846.80 base also 845.50 day bottom and 844.90 GBX
channel (very major
area) / 843 GBX bottom and 841.50 weekly
bottom also 840 monthly closing price (major area)
/ 833.10 weekly closing price
(very major)
/ 825.60 weekly bottom and 821.90
GBX weekly bottom (very
major area) / 808.50
day bottom to 804.40 day gap (very
major area).
Comments:
The rally on Tuesday from the 50%
retracement area proves to be a major support, which
stimulated rallies as expected. The overall neutral
condition can keep prices inside the wide weekly trading
range between 903 and 840 for several days and weeks
before proving any solid direction. The overall
attitude should continue to sell the high end of the range
and buy the low end of the range until a breakout can
develop to either side. For now, remain defensive
inside the first neutral range between 875.70 - 849.
Day
trades: For the June contract -
Aggressive traders can sell rallies near
870 - 875 area for obj. near 865 - 860 area. (Use a
buy stop and rev. long at 880.70).
Aggressive traders can buy dips near
853.50 - 849 area for obj. near 859 - 862 area. (Use
a sell stop and rev. short at 847.70).
Buy stop at 880.70 for obj. near 885 -
886.60 area.
Sell stop at 847.70 for obj. near 845.50
- 844.90 area.
Sell stop at 839 for obj. near 835 - 833
area.
Bulletin - Originally sent 04/02/03 (10:38 am est)
Short positions were taken at 873.
The market proved to trade above the 875.70 major weekly channel and
is still showing strength. It is recommended for traders to
exit the short position at the market and cut loses. The
market is trading at 877 at this time.
Use a sell stop at 872 to re-enter short
positions for obj. near 865 - 860 area.
Bulletin - Originally sent 04/02/03 (11:46 am est)
Long positions were taken at 880.70 on
the stop. The market is showing resistance at this time and
the double top at 882 should be considered a sell.
It is recommended for all traders to
exit the long position and scratch the trade.
Bulletin - Originally sent 04/02/03 (11:48 am est)
Since the 885.70 GBX top and the 886.60 major
weekly channel is such a significant resistance area, that it
should be considered a major selling opportunity.
Aggressive traders can consider short
positions near 885 - 886 for an obj. near 878 - 876 area.
(Use a protective buy stop at 890.70. Do not rev. long).
Results: 04/02/03
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P - For Thursday
04-03-03: 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 June contract -
880.50 intra-day channel and 881.70 peak also 882.90 newly developed
day channel (major area) / 884.30
day top and 886.60 weekly channel (very
major area) / 888.80 major day
channel and 893.20 weekly closing gap (very
major area) / 895.20 major day
channel and 895.70 weekly top (very
major area) / 902.40 weekly
closing price and 903 weekly channel (very
major area) / 908 day top to 911.50 exhaustion gap and
915.90 gap area (major area).
Support: For
the June contract -
875.80 and 875.20 base (major area) / 873 base and
871.50 bottom also 869.40 rev. peak (major area) / 864
intra-day channel and 862.90 exhaustion weekly gap (very
major area) / 860.50 rev. peak and 856.70 day gap also
855.10 GBX bottom (major area) / 853.50
minor day channel (very major
area) / 846.70 GBX channel and
845.50 day bottom (very major
area) / 843.10 GBX bottom and 841.50 weekly bottom
also 840 monthly closing price (major area).
Comments:
The follow-through rally on Wednesday brought
prices up near a very critical resistance, which is at 886.60 on the
weekly chart and 888.80 on the daily chart that can prove to be
significant enough to hold back any further rallies. A trade
above 888.80 can bring prices up to challenge the 895.20 channel and
possibly near the 903 weekly channel, which is a very significant
area. A trade below 864 - 862.90 area is bearish but only a
trade below 840 can fail the neutral support. Remain defensive
inside the 888.80 - 869.40 trading range.
Day
trades: For the June contract -
Aggressive traders can sell rallies near 885 - 883
area if possible near 888 for obj. near 876 - 873 area. (Use a
protective buy stop at 890.70. Do not rev. long).
Buy stop at 897.30 for obj. near 900 - 903 area.
Buy stop at 906.50 for obj. near 911 and possibly
near 915.90 gap.
Sell stop at 868 for obj. near 865 - 864 area.
Sell stop at 861 for obj. near 857 - 855 area.
Results: 04/03/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S & P
- For Friday 04-04-03: 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 June contract -
879 peak (major) / 883.50 and 884.50 peaks also
884 newly developed day channel and 885.20 day top (major)
/ 886.60 weekly channel and 888 major day
channel (very major area)
/ 893.20 weekly closing gap and 894.60
major day channel also 895.70 weekly top (very
major area) / 892.40
weekly closing gap and 903 major weekly channel (very
major area) / 908 day top to 911.50 exhaustion
gap and 915.90 day gap (major area).
Support: For
the June contract -
872 intra-day channel and 871.50 day bottom also 869.40 rev.
peak (major area) / 862.90 weekly closing price
and exhaustion gap also 860.50 rev. peak (major area) /
857.50 day channel also 856.70 day gap and
855.10 GBX bottom also 855 day channel with GBX prices
(very major area) / 848.50 GBX channel (major)
/ 846.80 base and 845.50 day bottom (major area)
/ 843.10 GBX bottom and 841.50 weekly
bottom also 840 monthly closing price (very
major area) / 833.10
weekly closing price (very
major area) / 825.60
weekly bottom and 821.90 GBX weekly bottom (very
major area).
Comments:
Thursday's trading range remained inside the
neutral area and continued to prove the significance of the
886.60 - 888 resistance and the 872 - 869.40 support, which
leaves the chart neutral inside the same trading range.
A trade above 888 can challenge the 893.20 gap and possibly near
the 903 major weekly channel. A trade above the 903 area
will be considered a breakout and can signal the major uptrend
intact for higher prices. to follow. A trade today below
the 872 - 869.40 area can bring prices down to challenge the
862.90 gap and possibly near the 855 channel. A trade
below 855 is bearish and a trade below 848.50 can stimulate
enough selling pressure to bring prices near the 840 -
833.10 area. Remain defensive inside the 888 - 869.40
neutral range.
Day
trades: For the June contract -
Aggressive traders can sell rallies near 879 -
883 area and if possible near 886 - 888 for obj. near 874 - 870
area. (Use a protective buy stop at 890.70. Do not
rev. long).
Aggressive traders can sell rallies near 893.20
- 895 area for obj. near 889 - 886 area. (Use a protective
buy stop at 897.30. Do not rev. long).
Aggressive traders can attempt short positions
near 901 - 903 area for obj. near 896 - 893 and possibly near
890. (Use a buy stop and rev. long at 906.50).
Buy stop at 906.50 for obj. near 911 - 915.90
area.
Sell stop at 867 for obj .near 864 - 862.90 and
possibly near 860.50.
Sell stop at 853 for obj. near 850 -
848.50 area.
Bulletin - Originally sent 04/04/03 (11:07 am est)
Short positions were taken on the opening at 881.50. The
sell-off down to 876.20 seems worthy enough to take the profits
even though it's before the 874 obj. Buy at the market,
which is trading at 877 at this time. This will complete the
first trade.
Results: 04/04/03
The week in review - 04/07/03 - 04/11/03
The Tech Guru's S & P Day
Trading Recommendations
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P -
For Monday 04-07-03: 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 June contract -
879.70 peak and 879.80 minor day channel also 882.50 day top and
882.90 day channel (major area) / 885.20
weekly day session top and 887 major day channel also 888.70 GBX
weekly top (very major area)
/ 893.20 weekly closing gap and 894 major day
channel also 895.70 weekly top (very
major area) / 899.90 weekly
channel and 902.40 and 903.10 weekly closing prices (very
major area) / 904 and 905.50 weekly tops (major
area) / 908 day top to 911.50 exhaustion gap and 915.90 day
gap (major area) / 924 day
top and 926.50 weekly closing price (very
major area) /
935 and 936.50 weekly top also 936 monthly
closing price also 941.90 major weekly channel (very
major area).
Support: For
the June contract -
877.50 and 875.50 intra-day channel (major area) / 873.50
base and 872.80 day bottom also 870.90 GBX bottom (very
major area) / 862.90 weekly closing price and
exhaustion gap (major) / 860.50
rev. peak also 859.50 weekly channel and 858.50 day channel also
856.70 day gap and 855.10 GBX bottom (very
major area) / 851 rev. peak and 850.50 minor GBX
channel (major area) / 845.50 day bottom (major)
/ 843.10 GBX bottom and 841.50 weekly bottom
also 840 monthly closing price (very
major area).
Comments:
Friday's trading session remained inside the
neutral range but managed to close up at the highest close for the
week leaving the chart supportive inside the neutral area. A
trade above 887 and 894 is slightly bullish but a trade above 899.90
and 903.10 area will be considered a breakout for higher prices to
develop. A trade below 870.90 is slightly bearish but a trade
below 859.50 will fail the major weekly channel for lower prices to
develop. Remain defensive inside the 899.90 - 859.50 weekly
trading range.
Day
trades: For the June contract -
If the market opens above 894
aggressive traders can sell rallies near 898 - 899.90 area
and if possible near 902 for obj. near 894 - 893.20 area and
possibly near 890. (Use a buy stop and rev. long at 906.50).
If the market opens above 894
aggressive traders can buy dips near 886 - 882 area and if
possible near 878 for obj. near 892 - 894 area. (Use a sell
stop and rev. short at 869).
Buy stop at 906.50 for obj. near 911.50 and
possibly near 915.90 gap.
Sell stop at 869 for obj. near 863 - 862 area and
possibly near 859.50.
Sell stop at 856 for obj. near 851 - 848 area.
Results: 04/07/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S &
P - For Tuesday 04-08-03: 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 -
878.50 intra-day channel (major) / 885.50
intra-day channel (major) / 890.50
intra-day channel and 892.50 peak (very
major area) / 896.30 and 897 peaks also 898.80
peak (major area) / 905 day top and 905.50
weekly top (major area) / 908 day top to
911.50 exhaustion gap (major area) / 915.90
day gap (major) / 924
day top and 926.50 weekly closing price (very
major area) / 935 and
936.50 weekly top also 936 monthly closing price (very
major area) / 941.90
major weekly channel (very
major area).
Support: For
the June contract -
875 minor day
channel (major) / 873.50 and 873.20
base also 872.80 day bottom and 870.90 GBX bottom (very
major area) / 866 minor
day channel and 862.90 weekly closing price and exhaustion gap
also 862 GBX channel (very
major area) / 856.70 day
gap and 855.10 GBX bottom also 852.50 GBX channel
(very major area) / 845.50 day bottom (major)
/ 843.10 GBX bottom and 841.50 weekly
bottom also 840 monthly closing price (very
major area).
Comments:
The sell-off on Monday from the major
resistance proves the significance of the area, but managed to
hold above the 872.80 - 870.90 bottom area support leaving the
chart neutral inside a trading range between 892.50 and
870.90. A trade above 892.50 can bring prices up to
challenge the 905 top and possibly near the 915.90 gap area.
A trade below 870.90 can bring prices down to challenge the
862.90 gap and possibly near the 852.50 channel. Remain
defensive in this neutral area between 892.50 and 870.90 area
and the first neutral range between 885.50 - 875 area.
Day
trades: For the June contract -
Aggressive traders can sell
rallies near 884 - 885.50 for obj. near 878 - 875 area.
(Use a buy stop and rev. long at 888.50).
Aggressive traders can buy dips near 875 -
873 area for obj. near 880 - 883 area. (Use a sell stop
and rev. short at 868.70).
Aggressive traders can sell rallies near
890.50 - 892.50 area for obj. near 886 - 884 area. (Use
a buy stop and rev. long at 899.70).
Buy stop at 888.50 for obj. near 890.50 -
892.50 area.
Buy stop at 899.70 for obj. near 902 - 904
area.
Buy stop at 906.50 for obj. near 911 - 915.90
area.
Sell stop at 868.70 for obj. near 866 - 863
area.
Sell stop at 859 for obj. near 856.70 - 854
area.
Bulletin - Originally sent 04/08/03 (9:52 am est)
Long positions were taken on the sell-off down to
876. Continue using a sell stop and rev. short at 868.70.
Bulletin - Originally sent 04/08/03 (10:23 am est)
Long positions were taken at 876. The
market is showing resistance at the 878.80 area. It is recommended for
traders to exit the long position and take profits at the 878 area.
Bulletin - Originally sent 04/08/03 (11:09 am est)
Long positions were re-entered at 873.50,
which is the low end of the support area. The rally up to 880
completes the trade.
Results: 04/08/03
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P -
For Wednesday 04-09-03: 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 -
879 intra-day channel and 879.70 peak (major area) /
882.80 day top and 885 peak (major area) / 887.80
GBX top and 888.50 peak (very
major area) / 892.20 peak (major)
/ 896.30, 897 and 898.80 peak
(very major area) / 903.90
newly developed day channel and 905 day top (very
major area) / 908 day top to 911.50 exhaustion gap
(major area) / 915.90 day gap (major)
/ 924 day top and 926.50 weekly closing
price (very major area)
/ 935 and 936.50 weekly top also 936 monthly
closing price (very major
area) / 941.90 major weekly
channel (very major area).
Support: For
the June contract -
876.10 and 874.50 base also 873.90 minor day channel and 873.50
day bottom (major area) / 870.90
GBX bottom and 870.60 rev. channel also 869.50 minor day channel (very
major area) / 866.90 GBX
channel (very major)
/ 862.90 weekly closing price and exhaustion gap also 860.50 rev.
peak (major area) / 859.50
weekly channel also 856.70 day gap and 855.10 GBX bottom also
854.50 GBX channel (very
major area) / 845.50 day bottom (major)
/ 843.10 GBX bottom and 841.50 weekly bottom
also 840 monthly closing price (very
major area).
Comments:
Tuesday's range remained inside the neutral
range but continued to develop support at the low end of the neutral
condition that can possibly stimulate rallies. A trade
above the 885 - 888.50 area is slightly bullish but a trade above
the 896.30 - 898.80 peaks can challenge new highs above the 905
top. A trade below 870.90 - 869.50 area and below 866.90 GBX
channel is bearish for prices to challenge the 862.90 gap and
859.50 weekly channel support. Remain defensive inside the
885 - 870.60 neutral area until a breakout can develop to either
side.
Day
trades: For the June contract -
Aggressive traders can sell
rallies near 882 - 885 area and if possible near 887 for obj. near
878 - 875 area. (Use a buy stop and rev. long at 889.70).
Aggressive traders can buy dips near 875 - 871
area for obj. near 878 - 880 area. (Use a sell stop and rev.
short at 866).
Buy stop at 889.70 for obj. near 892 - 895 area
and possibly near 897.
Buy stop at 906.70 for obj. near 910 - 911.50
area and possibly near 915.90 gap.
Sell stop at 866 for obj. near 863 - 861 area and
possibly near 859.50.
Sell stop at 851 for obj. near 847 - 845 area.
Bulletin - Originally sent 04/09/03 (4:12 pm est)
The 866 sell stop was hit putting traders into
short positions. The market is showing support at the 864 area that
can hold back the obj. from being hit.
It is recommended for traders to exit the
short positions and take profits or scratch the trade.
Results: 04/09/03
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P -
For Thursday 04-10-03: 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 June contract -
870 and 871.50 intra-day channel (major area) /
873 and 874.50 peaks (major) / 878.40
day channel also 878.50 peak and weekly closing price (very
major area) / 881.30 intra-day channel and 883.80
peak (major area) / 887.30
day top and 887.80 GBX top (very
major area) / 896.30, 897
and 898.80 peaks (very major
area) / 903.40 and 903.60
day channels also 905 weekly top (very
major area) / 908 day top to 911.50 exhaustion gap
(major area) / 915.90 day gap (major).
Support: For
the June contract -
864.50 bottom (major) / 862.90 weekly closing
price and exhaustion gap also 860.50 rev. peak (major
area) / 859.50 weekly channel and
856.70 gap and minor GBX channel also 855.10 GBX bottom and 854.20
minor day channel (very major
area) / 847 day session closing price and 845.50
day bottom (major area) / 843.10
GBX bottom and 841.50 weekly bottom also 840 monthly closing price
(very major area) /
833.10 weekly closing price (major) / 825.60
weekly bottom and 821.90 GBX weekly bottom (very
major area).
Comments:
The sell-off on Wednesday from the resistance
brought prices down below a major support leaving the chart
neutral to slightly bearish. Only a trade above 878.40 -
878.50 area can bring any bullishness back to the chart. A
trade below 856.70 - 854.20 area will fail the major support for
prices to challenge the 841.50 bottom and possibly lower.
Remain defensive inside the 878.40 - 856.70 neutral change.
Day
trades: For the June contract -
Aggressive traders can sell
rallies near 870 - 873 area if possible near 876 - 878 area for
obj. near 864.50 - 862.90 gap and possibly near 860.50. (Use
a buy stop and rev. long at 879.70).
Aggressive traders can buy dips near 860.50 -
859.50 area and if possible near 856.70 gap for obj. near 866 -
868 area. (Use a sell stop and rev. short at 851).
Buy stop at 879.70 for obj. near 884 - 886 area.
Buy stop at 890 for obj. near 894 - 896 area.
Sell stop at 851 for obj. near 847 - 845.50 area
and possibly near 843.
Bulletin - Originally sent 04/10/03 (12:30 pm est)
Long positions were taken at 861.80.
The rally up to the double top at 868 completes the trade.
It is recommended to cancel the sell at 870
- 873 area and look to sell rallies near the 876 - 878 area, which is
the high end of the selling area for today.
Results: 04/10/03
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P -
For Friday 04-11-03: 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 June contract -
874.50 intra-day peak (major) / 877
intra-day channel also 878.50 peak and 878.50 weekly closing price
(very major area)
/ 883.80 peak (major) / 886.30
minor day channel and 887.30 day top and 887.80 GBX top (very
major area) / 896.30, 897
and 898.80 peaks (very major
area) / 903 day channel and
905 weekly top (very major
area) / 908 day top to 911.50 exhaustion gap (major
area) / 915.90 day gap and 918
daily upper channel (very
major area).
Support: For
the June contract -
868.50 and 867 intra-day channels (major area) / 866
and 864.50 base also 865.10 newly developed day channel (very
major area) / 861.50 day
bottom and 860.50 rev. peak also 859.50 weekly channel and GBX
channel (very major area)
/ 856.70 day gap and 855.90 minor day channel also 855.10 GBX
bottom (major area) / 851.20
minor weekly channel and 851 rev. peak (very
major area) / 847 day session closing price and
845.50 day bottom (major area) / 843.10
GBX bottom and 841.50 weekly bottom also 840 monthly closing price
(very major area).
Comments:
Thursday's session managed to rally from the
major support area and finally closing up for the day leaving the
chart totally neutral again inside two trading ranges.
The first narrow range is between 878.50 - 865.10 and the
wider neutral range between 886.30 - 859.50 area. A trade
and close on Friday to either side of these
ranges can possibly point a direction for next weeks session.
Remain defensive inside the two trading ranges until a breakout is
seen to either side.
Day
trades: For the June contract -
Aggressive traders can sell
rallies near 875 - 878.50 area or buy dips near 868.50 - 865.10
area, whichever side comes first to complete the trade. (Use
a buy stop and rev. long at 880.50). (Use a sell stop and
rev. short at 864).
Aggressive traders can sell rallies near 886 -
888 area for obj. near 883 - 880 area and possibly near 878.
(Use a buy stop and rev. long at 890.80).
Aggressive traders can buy dips near 861.50 -
859.50 area for obj. near 867 - 869 area and possibly near 872.
(Use a sell stop and rev. short at 858). NOTE:
If the market trades below the 859.50 area it should bring
bearishness but if the market has a fast spike down to the 858
sell stop and then immediatly recovers to the upside, traders
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