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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 - 04/28/03 - 05/02/03
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 04-28-03:  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 -
899.50 and 900.50 peaks (major area) / 901.90, 902.20 and 902.50 peaks (major area) / 904.70 day channel (major) / 906.90 GBX channel and 907.50 peak also 908.80 peak (major area) / 910.70 day top and 911 peak also 911.30 minor day channel and 912.60 GBX top (very major area) / 914.90 newly developed weekly channel and 916.70 day top also 917.10 long-term major weekly channel and 917.70 day gap (very major area) / 918.30 GBX weekly top and 919.40 weekly top (major area) / 924 day top also 926 and 926.50 weekly closing prices (major area) / 928.80 day session closing price and 930.50 day top (major area) / 933.50 June contract's weekly top and 935 weekly charts top also 934 major daily channel (very major area) / 936 monthly closing price and 936.50 GBX weekly top (major area) / 939.10 major weekly channel (very major area).
 
Support:  For the June contract -
896.90 major weekly channel and 895 minor day channel (very major area) / 891.20 weekly closing price and 889.90 minor weekly channel (very major area) / 886.50 minor day channel and 885 weekly bottom (major area) / 880.70 minor weekly channel and 880 GBX daily channel (very major area) / 878.50 weekly closing price and 878.10 day bottom also 877.70 GBX bottom and 876.80 day bottom (major area) / 873.90 minor weekly channel and 873.50 minor day channel (very major area) / 868.50 weekly day session bottom and 868.70 weekly closing price and gap also 865.70 weekly bottom (major area) / 861.60 weekly bottom to 860.50 rev. peak also 856.70 day gap and 855.10 GBX bottom (very major area). 
 
Comments: 
    The sell-off on Friday from the major resistance area brought prices down near the major support area leaving the chart totally neutral inside two trading areas.  The daily trading area is between 906.70 and 895.  The weekly trading area is between 917.10 and 880.70.  A trade to either side of the weekly trading area can prove to point a direction.  Remain defensive until a breakout is seen to either side.   
   
Day trades:  For the June contract -
 
Aggressive traders can sell rallies near 901 - 904 area and if possible near 906 for obj. near 898 - 895 area.  (Use a buy stop and rev. long at 909).
 
Aggressive traders can buy dips near 896 - 895 area for obj. near 899.50 - 901 area.  (Use a sell stop and rev. short at 893).
 
Aggressive traders can attempt short positions near 914 - 917 area for obj. near 909 - 906 area.  (Use a buy stop and rev. long at 921.70).
 
Aggressive traders can attempt long positions near 882 - 880.70 area for obj. near 886 - 888 area.  (Use a sell stop and rev. short at 876).
 
Buy stop at 909 for obj. near 914 - 917 area.
Buy stop at 921.70 for obj. near 924 - 926.50 area and possibly near 929 - 933 area.
 
Sell stop at 893 for obj. near 891 - 889.90 area.
Sell stop at 884.90 for obj. near 882 - 880.70 area.
Sell stop at 876 for obj. near 873 - 870 and possibly near 868.20 gap.
 

* 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 04/28/03 (10:47 am est) 

Short positions were taken at 901 on the opening and completed with a sell-off down to 899, which was near enough to the 898 obj. and completed the first trade. 

The rally up to 909 hit the buy stop putting traders into long positions.  Since the major resistance at 914.90 is so significant, it is recommended for traders to consider taking profits near the 912 area.  The rally up to 912 completes this trade.

Bulletin - Originally sent 04/28/03 (1:49 pm est) 

The rally up to the 914 - 917 sell area put traders into short positions at 914.  The sell-off down to 909.70 is near enough to 909 obj. and completes the trade. 

Bulletin - Originally sent 04/28/03 (2:25 pm est) 

Since the 917.10 is the long-term major weekly channel and significant enough to possibly hold back any further rallies, traders can consider selling the 915.50 - 917 area again.  The obj. will be 910 - 908 area.  (Continue to use a buy stop and rev. long at 921.70).

Results:    04/28/03

Sold @ 901          Bought @ 899         = + $   500.00
Bought @ 909      Sold @ 912             = + $   750.00     sold as per bulletin
Sold @ 914          Bought @ 910         = + $1,000.00
Sold @ 916          Bought @ 913.50     = + $   625.00
TOTAL (P & L)                                       + $2,875.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 04-29-03:  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 -
915 and 916 peaks (major area) / 917 peak and 917.90 day top also 918.10 major day channel and 919.40 weekly top (very major area) / 924 day top also 926 and 926.50 weekly closing prices (major area) / 930.50 day top (major) / 933.50 June contract's weekly top and 935 weekly chart's top also 934 major daily channel (very major area) / 936 monthly closing price and 936.50 GBX weekly top (major area) / 939.10 major weekly channel (very major area) / 953.30 June's weekly top and 954.80 weekly chart's top (very major area) / 966 major weekly top (very major).
 
Support:  For the June contract -
913.50 base and 912.70 intra-day channel and base (major area) / 909.70 and 906.50 base (major area) / 902 day channel (major) / 899 day bottom and 898.60 weekly closing gap also 897.50 minor day channel and 896.90 major weekly channel and 895.30 GBX bottom (very major area) / 888.50 minor channel and 885 weekly bottom (major area) / 882 minor day channel and 880.70 minor weekly channel (very major area) / 878.50 weekly closing price and 878.10 day bottom also 877.70 GBX bottom and 876.80 day bottom (major area) / 873.90 minor weekly channel (very major area).
 
Comments: 
    The rally on Monday brought prices up to the major resistance leaving the chart neutral to slightly bullish.  A trade above the 918.10 - 919.40 area can bring prices up to challenge the 933.50 top and possibly near 939.10.  A trade above 939.10 will be considered a breakout for prices to challenge the 954.80 and 966 top area and possibly as high as 990.  A trade today below 909.70 - 902 area is slightly bearish but only a trade below the 896.90 - 895 area can bring any solid bearishness back to the chart.  Remain defensive inside the 918.10 - 906.50 neutral area.
       
Day trades:  For the June contract -
 
Aggressive traders can sell rallies near 916 - 918 area for obj. near 910 - 907 area.  (Use a buy stop and rev. long at 922.70).
 
Aggressive traders can buy dips near 902 - 897 area for obj. near 908 - 909 area.  (Use a sell stop and rev. short at 894).
 
Buy stop at 922.70 for obj. near 926 - 930 area and possibly near 933.
 
Sell stop at 894 for obj. near 889 - 885 area and possibly near 882.
 

* 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 04/29/03 (10:38 am est) 

Short positions were taken at 917 on the opening.  The rally up to the buy stop at 922.70 put traders into long positions and a loss on the first trade. 

Long positions can continue to use a protective sell stop at 912. 

Aggressive traders can use a sell stop at 912 for an obj. near 910 - 907 area.

Bulletin - Originally sent 04/29/03 (11:29 am est) 

The Sell stop was hit at 912 putting traders into short positions.  The sell-off down to 910 -909.80  completes the trade. 

The market is showing support at the 909.80 area that can prove to be significant enough to stimulate rallies.  As long as the market can remain above the 902 support prices can move up. 

Aggressive traders can buy near 913 - 911 area for obj. near 919 - 922 and possibly near 926.  (Use a sell stop and rev short at 892).  (Conservative traders can use a protective sell stop at 905.70.  Do not rev short). 

Results:    04/29/03

Sold @ 917              Bought @ 922.70   = - $1,425.00
Bought @ 922.70      Sold @ 912           = - $2,675.00
Sold @ 912              Bought @ 910       = + $  500.00     sell stop as per bulletin
Bought @ 912          Sold @ 920           = + $2,000.00     bought as per bulletin
TOTAL (P & L)                                         -  $1,600.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 04-30-03:  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 -
916.90 intra-day channel also 917.30, 917.90 and 918.60 peaks also 918.80 gap (major area) / 922.73 newly developed long-term day channel and 923.70 day top also 924 day top and 926 weekly closing price (very major area) / 930.50 day top (major) / 933.50 June contract's weekly top and 933.60 day channel also 934.50 day gap from Dec. 2, 2002 and 935 weekly chart's top (very major area) / 936 monthly closing price and 936.50 GBX weekly top (major area) / 939.10 major weekly channel and 943.50 minor monthly channel (very major area) / 953.30 June contract's weekly top and 954.80 weekly chart's top (very major area) / 966 major weekly top (very major area).
 
Support:  For the June contract -
914, 913 and 912 intra-day channels (major area) / 911.50 and 911 base also 909.80 day bottom (major area) / 906 minor day channel (major area) / 900 minor day channel and 899 day bottom also 898.60 weekly closing gap, 886.90 major weekly channel and 895.30 GBX bottom (very major area) / 888.50 minor weekly channel and 886 GBX channel also 885 weekly bottom (very major area) / 878.50 minor day channel and 878.10 day bottom also 877.70 GBX bottom and 876.80 day bottom (major area) / 873.90 minor weekly channel (very major area).
 
Comments: 
    The whiplashing action on Tuesday at the major resistance area leaves the chart neutral.  The fact that the market could not close above 917.70, which was last weeks highest closing price, leaves the chart slightly bearish for Wednesday.  Overall this neutral to bearish condition give uncertainty in the direction.  Only a trade above 926.50 can possibly bring prices higher.  A trade today below the 909.80 - 906 area is slightly bearish but only a trade below 900 - 895.30 area can trigger selling to challenge the 886 - 880.70 area.  Remain defensive inside the neutral area between 922.70 and 906 area.
           
Day trades:  For the June contract -
 
Aggressive traders can sell rallies near 916 - 919 area and if possible near 922 or buy dips near 912 - 909.80 and if possible near 906, whichever side comes first, to complete the trade.  (Use a buy stop and rev. long at 927).  (Use a sell stop and rev. short at 903). 
 
Buy stop at 927 for obj. near 930 - 933 area.
Buy stop at 946.50 for obj. near 950 - 953 area.
 
Sell stop at 903 for obj. near 900 and possibly near 898.60 gap.
Sell stop at 894.80 for obj. near 891.50 - 888.50 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 04/30/03 (10:08 am est) 

Short positions were taken on the opening at 915.50.  The trade was completed with a sell off down to 910.  Because of the neutral conditions, long positions were taken at 911 and completed with the rally up to the 916 - 917.30 area. 

The neutral conditions can remain but all trades in this area are now considered a high risk. 

Results:    04/30/03

Sold @ 915.50         Bought @ 911       = + $1,125.00
Bought @ 911          Sold @ 916           = + $1,250.00
Sold @ 921             Bought @ 913        = + $2,000.00   
TOTAL (P & L)                                         + $4,375.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 05-01-03:  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 -
916.90 intra-day channel and 917 peak (major area) / 919.30 minor day channel and 920.80 peak also 921.50 long-term day channel and 921.50 day top (very major area) / 923.70 day top also 924 day top and 926 weekly closing price (major area) / 930.50 day top (major) / 933.50 June contract's weekly top and 933.60 day channel also 934.50 day gap from Dec. 2, 2002 and 935 weekly chart's top (very major area) / 936 monthly closing price and 936.50 GBX weekly top (major area) / 939.10 major weekly channel and 943.50 minor monthly channel (very major area) / 953.30 June contract's weekly top and 954.80 weekly chart's top (very major area) / 966 major weekly top (very major area).
 
Support:  For the June contract -
915 newly developed minor day channel also 915 and 914.50 base (major area) / 910.30 minor day channel also 910 and 909.80 bottoms also 909.50 day channel (major area) / 905.10 major day channel and 904.20 GBX channel also 903 minor day channel (very major area) / 899 day bottom and 898.60 weekly closing gap also 896.30 day bottom and 895.30 GBX bottom (major area) / 888.50 minor weekly channel and 886 GBX channel also 885 weekly bottom (very major area) / 880.70 minor weekly channel and 878.50 minor day channel also 878.10 day bottom and 877.70 GBX bottom also 876.80 day bottom (very major area) / 873.30 minor weekly channel (very major area).
 
Comments: 
    Wednesday's trading range remained inside the neutral area leaving the chart neutral again between 919.30 and 905.10.  A breakout to either side can prove to point a direction.  A trade above 939.10 - 943.50 area will confirm the major uptrend intact.  A trade below 880.70 will bring the major downtrend back into play.  Remain defensive inside the 919.30 - 905.10 neutral range.
               
Day trades:  For the June contract -
 
Aggressive traders can buy dips near 912 - 909.50 area and if possible near 905.10 for obj. near 914.50 - 915.50 area.  (Use a sell stop and rev. short at 901).
 
Aggressive traders can sell rallies near 918 - 919.30 area and if possible near 921.50 for obj. near 915.50 - 914.50 area.  (Use a buy stop and rev. long at 927).
 
Buy stop at 927 for obj. near 930 - 933 area.
Buy stop at 946 for obj. near 949 - 953 area.
 
Sell stop at 901 for obj. near 898.60 gap and possibly near 896.
Sell stop at 894.80 for obj. near 891 - 888.50 area.
Sell stop at 876 for obj. near 873.30.
Sell stop at 870 for obj. near 868 - 865 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 05/01/03 (12:00 pm est) 

The buy stop was hit at 901 putting traders into short positions.  The market is proving to show support at this area for a possible recovery rally. 

It is recommended for traders to enter a protective buy stop at 908.50 to protect all short positions at this time. 

Bulletin - Originally sent 05/01/03 (2:02 pm est) 

The buy stop was hit at 908.50 to exit short positions and enter long.  The rally up to 913.50 is near enough to the 914.50 obj. to complete the trade.

Bulletin - Originally sent 05/01/03 (3:13 pm est) 

The rally up to the 918 - 919.30 area put traders into short positions at 918.50.  The sell-off down to the 915.50 area meets the obj. and completes the trade.

Results:    05/01/03

Bought @ 913          Sold @ 914.50          = + $   375.00
Bought @ 906          Sold @ 901               = -  $1,250.00
Sold @ 901              Bought @ 908.50      = -  $1,875.00
Bought @ 908.50      Sold @ 913.50          = + $1,250.00
Sold @ 918.50          Bought @ 915.50      = + $   750.00   
TOTAL (P & L)                                             - $   750.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 05-02-03:  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 -
917.40 minor day channel and 918.80 intra-day channel and peak also 919.50 newly developed monthly channel and day top (very major area) / 920.50 long-term day channel also 921.50 day top (very major area) / 923.70 and 924 day tops also 926 weekly closing price (major area) / 930.50 day top (major) / 933 day channel and 933.50 June contract's weekly top also 934.50 day gap and 935 weekly chart's top (very major area) / 936 monthly closing price and 936.50 GBX top (major area) / 939.10 major weekly channel and 940.80 newly developed monthly channel (very major area) / 953 monthly channel and 953.30 weekly top also 954.80 weekly chart's top (very major area) / 966 major weekly top and 987 major monthly channel (very major area).
 
Support:  For the June contract -
913.50 intra-day channel and 913.40 base (major area) / 907.30 base (major) / 903.60 newly developed day channel (major) / 901.50 minor day channel also 901.50 minor monthly channel and 900.50 day bottom (very major area) / 899 day bottom and 898.60 weekly closing gap also 897.70 newly developed monthly channel and 895.30 GBX bottom (very major area) / 888.50 minor weekly channel (very major area) / 885 weekly bottom (major) / 880.70 minor weekly channel and 880 minor day channel (very major area) / 878.10 day bottom and 877.70 GBX bottom also 876.80 day bottom (major area) / 873.30 minor weekly channel (very major area).
 
Comments: 
    The whiplashing action on Thursday leaves the chart neutral inside the 919.50 - 897.70 newly developed monthly trading range.  A breakout to either side can point a direction.  Remain defensive inside the first neutral daily range between 917.40 and 913.40.   
                   
Day trades:  For the June contract -
 
Aggressive traders can sell rallies near 917 - 919 area or buy dips near 914 - 913 area, whichever side comes first to complete the trade.  (Use a buy stop and rev. long at 922.50).  (Use a sell stop and rev. short at 910).
 
Aggressive traders can buy dips near 902 - 898 area for obj. near 907 - 911 area.  (Use a sell stop and rev. short at 894.70).
 
Buy stop at 922.50 for obj. near 925 - 926 area.
Buy stop at 927.50 for obj. near 930.50 - 933 area.
 
Sell stop at 910 for obj. near 907 - 904 area and possibly near 902.
Sell stop at 894.70 for obj. near 891 - 888.50 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 05/02/03 (9:40 am est) 

Long positions were taken on the opening at 911.  (Continue to use the sell stop and rev. short at 910). 

Bulletin - Originally sent 05/02/03 (9:45 am est) 

Long positions were taken at 911.  The rally up to 914.70 is hitting a newly developed down channel line where long positions should now exit and take profits.  The market is trading at 914.50.  This completes the first trade.

Bulletin - Originally sent 05/02/03 (9:52 am est) 

Since the resistance at 918.80 is so significant short positions were taken at 917.  The obj. is near 914 - 913 area.  (Continue to use a buy stop and rev. long at 922.50).

Bulletin - Originally sent 05/02/03 (11:53 am est) 

The buy stop was hit at 927.50 putting traders into long positions.  The market is showing resistance in this area for a possible retracement down. 

It is recommended for traders to exit long positions at the market and cut loses.  The market is trading at 926 at this time.

Results:    05/02/03

Bought @ 911          Sold @ 914.50       = + $   875.00     sold as per bulletin
Sold @ 917              Bought @ 922.50   = -  $1,375.00     sold as per bulletin to repeat the trade
Bought @ 922.50      Sold @ 925.50      = + $   750.00
Bought @ 927.50      Sold @ 926           = -  $   375.00     sold as per bulletin 
TOTAL (P & L)                                         -  $   125.00
The week in review - 05/05/03 - 05/09/03
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 05-05-03:  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 June contract -
928.80 newly developed weekly channel and 929.70 peak also 930 weekly top (major area) / 933 day channel and 933.50 June contract's weekly top also 934.50 day gap and 935 weekly chart's top (very major area) / 936 monthly closing price and 936.50 GBX top (major area) / 938.40 weekly channel and 940.80 monthly channel (very major area) / 953 monthly channel and 953.30 weekly top also 954.80 weekly chart's top (very major area) / 966 major weekly top (very major area) / 978 major monthly channel (very major area).
 
Support:  For the June contract -
926.50 and 926.30 base also 924.20 base and 923.70 rev. peak (major area) / 921.30 intra-day channel and gap also 920.50 minor day channel and 919.50 rev. monthly channel (very major area) / 912 major weekly channel also 910.50 day bottom (very major) / 906.70 major day channel and 905.60 minor weekly channel also 904.90 minor day channel (very major area) / 902 weekly channel and 900.50 day bottom (very major area) / 899 weekly bottom also 898.60 weekly gap and 897.70 monthly channel (very major area) / 895.30 GBX weekly bottom (major) / 891.20 weekly closing price and 890.50 minor weekly channel (very major area) / 885 weekly bottom and 882 minor day channel (major area).
 
Comments: 
    The rally on Friday brought prices up near the major weekly tops and weekly channels leaving the chart very defensive.  A trade above the 938.40 weekly channel and 940.80 monthly channel will be considered a breakout for higher prices.  A trade today below the 920.50 day channel is slightly bearish but only a trade below the 897.70 monthly channel can bring any solid bearishness back to the major chart.  Remain defensive inside the 940.80 - 897.70 major monthly trading range and the 933 - 920.50 daily range.   
                       
Day trades:  For the June contract -
 
Aggressive traders can buy dips near 922 - 919.50 area for obj. near 928 - 929 area.  (Use a sell stop and rev. short at 917).
 
Aggressive traders can sell rallies near 936 - 938 area and if possible near 940 for obj. near 930 - 928 area.  (Use a buy stop and rev. long at 944).
 
Sell stop at 917 for obj. near 913.50 - 912 area.
 
Buy stop at 944 for obj. near 949 - 953 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.

Results:    05/05/03

Bought @ 923.50        Sold @ 928.50          = + $1,250.00
TOTAL (P & L)                                               + $1,250.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 05-06-03:  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 June contract -
927 intra-day channel also 928 and 928.30 peaks (major area) / 930 intra-day channel and 931.50 peak (major area) / 933.30 day channel and 933.50 day top also 934.50 day gap and 935 weekly chart's top (very major area) / 936 monthly closing price and 936.50 GBX weekly top (major area) / 938.40 weekly channel and 940.80 monthly channel (very major area) / 953 monthly channel and 953.30 weekly top also 954.80 weekly chart's top (very major area) / 966 major weekly top (very major area) / 978 major monthly channel (very major area).
 
Support:  For the June contract -
925.50 intra-day channel also 925.20 base and 924 base and 923.50 day bottom (major area) / 921.30 intra-day gap and 919.50 rev. monthly channel (major area) / 912 major weekly channel and 910.50 day bottom also 909.80 major day channel (very major area) / 907 minor day channel and 905.70 GBX channel (major area) / 900.50 day bottom and 899 weekly bottom also 897.70 monthly channel (very major area) / 895 GBX bottom (major) / 891.20 weekly closing price and 890.50 minor weekly channel (very major area) / 885 weekly bottom and 883.50 minor day channel (major area).
 
Comments: 
    The sell-off on Monday from the resistance managed to close down for the day, leaving the chart neutral and defensive for possible retracements to the downside.  A trade above 938.40 and 940.80 will bring the bullishness back for prices to challenge the 953 - 954.80 area.  A trade below the 923.50 - 919.50 area can bring prices down to challenge the 912 major weekly support and possibly near the 897.70 monthly channel support.   A trade below the 897.70 monthly channel is bearish and can challenge the 890.50 weekly channel and possibly lower.  Remain defensive inside the 933.30 - 912 neutral range and the 940.80 and 897 monthly range.            
                           
Day trades:  For the June contract -
 
Aggressive traders can buy dips near 925.50 - 924 area for obj. near 928 and possibly near 930.  (Use a sell stop and rev. short at 919).
 
Aggressive traders can sell rallies near 928 - 930 area for obj. near 925.50 - 924 area.  (Use a buy stop and rev. long at 936.70).
 
Aggressive traders can sell rallies near 938.50 - 940 area for obj. near 935 - 933.  (Use a buy stop and rev. long at 944).
 
Aggressive traders can buy dips near 912 - 909.50 area for obj. near 918 - 921 area.  (Use a sell stop and rev. short at 980).
 
Buy stop at 936.70 for obj. near 938.50 - 940 area.
Buy stop at 944 for obj. near 948 - 953 area.
 
Sell stop at 919 for obj. near 914 - 912 area.
Sell stop at 908 for obj. near 905 - 903 and possibly near 900 - 897.70 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 05/06/03 (9:55 am est)

 
The first aggressive trade to buy at 925.50 should now be cancelled because the trade is technically considered complete, even though we did not catch the trade on time.

Bulletin - Originally sent 05/06/03 (1:26 pm est)

 
The buy stop at 936.70 was hit putting traders into long positions.  There is so much resistance in this area that it is now making long positions very risky.
 
It is recommended for traders to exit all long positions and cut losses. 
 
Aggressive traders can attempt short positions in this area between 936.50 - 938 and if possible near 940.  (Continue to use a buy stop and rev. long at 944).  The obj. for short positions is for a retracement back down to the 932 - 928 area and possibly near 924.  Traders can hold short positions overnight and continue to use the buy stop at 944.  There is a possibility for a sell-off down to the 912 area one more time. 

Bulletin - Originally sent 05/06/03 (2:23 pm est)

 
The sell-off down to 932 completes the short position trade taken at 937.

Results:    05/06/03

Sold @ 930               Bought @ 936.70     = -  $1,675.00     
Bought @ 936.70       Sold @ 937             = + $     75.00     sold as per bulletin
Sold @ 937               Bought @ 932          = + $1,250.00     sold as per bulletin
Sold @ 939               Bought @ 928          = + $2,750.00
TOTAL (P & L)                                             + $2,400.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 05-07-03:  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 -
935 and 937.50 peaks (major area) / 938.60 newly developed long-term day channel and 939.50 day top also 940.80 monthly channel (very major area) / 953 monthly channel and 953.30 weekly top also 954.80 weekly chart's top (very major area) / 966 major weekly top (very major area) / 978 major monthly channel also 982.20 major weekly channel (very major area).
 
Support:  For the June contract -
931.90 minor day channel and 930.90 minor day channel with GBX prices also 928.50 minor day channel (major area) / 924.70 minor day channel with GBX prices and 926 day bottom also 924.10 GBX bottom and 923.50 day bottom (very major area) / 913 major day channel and 912 major weekly channel also 910.50 day bottom and 909.50 and 907.50 minor channels (very major area) / 902.50 minor channel (major) / 900.50 day bottom and 899 weekly bottom also 898.60 weekly gap and 897.70 major monthly channel (very major area) / 895.30 GBX weekly bottom (major) / 891.20 weekly closing price and 890.50 minor weekly channel (very major area).
 
Comments: 
    The rally on Tuesday brought prices up to a very major resistance that can possibly put a lid on rallies and stimulate some retracements down near the 912 and 897.70 support areas again.  A trade above the 940.80 monthly channel will be considered a breakout for higher prices that can challenge the 953 and 966 areas.  Only a trade below 897.70 can bring any solid bearishness back to the chart.  Remain defensive today inside the 938.60 - 928.50 neutral area.   
                           
Day trades:  For the June contract -
 
Aggressive traders can buy dips near 932 - 928.50 and or sell rallies near 935 - 938 area, whichever side comes first, to complete the trade.  (Use a sell stop and rev. short at 921).  (Use a buy stop and rev. long at 944).
 
Aggressive traders can buy dips near 914 - 912 area and if possible near 910 for obj. near 918 - 921 area.  (Use a sell stop and rev. short at 906.50).
 
Aggressive traders can sell rallies near 952 - 954 area for obj. near 945 and possibly near 942.  (Use a buy stop and rev. long at 957.80).
 
Sell stop at 921 for obj. near 914 - 912 area.
Sell stop at 906.50 for obj. near 902.50 and possibly near 900.50 - 897.70 area.
 
Buy stop at 944 for obj. near 947 - 949 area and possibly near 953.
Buy stop at 957.80 for obj. near 962 - 966 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 05/07/03 (11:08 am est)

 
Long positions were taken on the opening at 929.50.  The rally up to 934.30 is near enough to the 935 obj. to take profits and complete the trade.

Results:    05/07/03

Bought @ 929.50           Sold @ 934          = + $1,125.00 
Sold @ 936.50               Bought @ 930      = + $1,625.00
TOTAL (P & L)                                             + $2,750.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 05-08-03:  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 -
930.80 and 931.20 peaks also 932.30 intra-day channel (major area) / 933.70 intra-day channel and 934.50 minor day channel (very major area) / 936 peak and 937 day top also 937.70 long-term day channel (very major area) / 939.50 day top and 940.80 monthly channel (very major area) / 953 monthly channel and 953.30 weekly top also 954.80 weekly chart's top (very major area) / 966 major weekly top (very major area) / 978 major monthly channel also 982.20 major weekly channel (very major area).
 
Support:  For the June contract -
928.30 base and 928 intra-day channel also 927.50 base (major area) / 926.20 base and 925.30 minor day channel also 925.20 day bottom and 924.10 GBX bottom and 923.50 day bottom (very major area) / 916 major day channel (major area) / 912 major weekly channel and 911.50 minor day channel also 910.50 day bottom and 909.50 minor day channel (very major area) / 903 minor day channel (major) / 900.50 day bottom and 899 weekly bottom also 898.60 weekly closing gap and 897.70 major monthly channel (very major area) / 895.30 GBX weekly bottom (major) / 891.20 weekly closing price and 890.50 minor weekly channel (very major area).
 
Comments: 
    The sell-off on Wednesday from the major resistance area proves to be significant enough to close the market down for the day, leaving the chart neutral inside the 934.50 and 916 trading area.  A trade above the 934.50 and 937.70 area is slightly bullish and a trade above 940.80 can bring prices higher.  A trade below 916 is slightly bearish but a trade below 912 - 909.50 can bring prices down to challenge the 897.70 monthly channel.  Remain very defensive until a breakout to either side of the 940.80 - 897.70 monthly range can develop.
                               
Day trades:  For the June contract -
 
Aggressive traders can buy dips near 917 - 916 area for obj. near 923 - 924 area and possibly near 927.  (Use a protective sell stop at 915.  Do not rev. short).
 
Aggressive traders can attempt long positions near 912 - 911.50 area for obj. near 919 - 922 area.  (Use a sell stop and rev. short at 908.50).
 
Aggressive traders can sell rallies near 932 - 934.50 area for obj. near 928 - 926 area.  (Use a protective buy stop at 935.70.  Do not rev. long).
 
Aggressive traders can sell rallies near 939 - 940 area for obj. near 935 - 932 area.  (Use a buy stop and rev long at 944).
 
Sell stop at 908.50 for obj. near 903.50 - 900.50 area.
Sell stop at 894 for obj. near 891.50 - 890.50 area.
 
Buy stop at 944 for obj. near 947 - 949 area and possibly near 953. 
 

* 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 05/08/03 (12:21 pm est)

 
The rally from the support level this morning just missed the buying opportunity at 917, and also missed the selling opportunity at 932 area.  S