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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.  Since the market performed inside the whole entire neutral area, both trades are now considered cancelled.  These trades are at high risk, and should not be attempted again.

Results:    05/08/03

The market remained inside the daily neutral range, missing the buying area and selling area by a few points leaving the day with no trades taken.
TOTAL (P & L)                                                      -0-
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 05-09-03:  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 -
921.40 minor day channel also 922.30 and 923.50 peaks (very major area) / 926.90, 927.50 and 928 peaks also 929.20 day top (major area) / 934.50 minor day channel (major) / 936.80 long-term daily channel and 937 day top (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 -
919.20 major day channel and 918 day bottom (very major area) / 913.50 minor channel and 912 major weekly channel also 911 minor day channel and 910.50 day bottom (very major area) / 903.50 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) / 885 weekly bottom (major) / 878.10 and 876.80 day bottoms (major area).
 
Comments: 
    The whiplashing action and sell-off on Thursday remained inside the neutral area leaving the chart neutral again inside the 936.80 and 919.20 daily trading range.  A trade below the 919.20 - 918 area is slightly bearish and can challenge the 912 support and possibly near the 897.70 monthly support.  A trade today above 923.50 is slightly bullish and above the 936.80 - 940.80 area will be considered a breakout for higher prices to develop.  Remain defensive inside the neutral range between 936.80 - 919.20.
                                   
Day trades:  For the June contract -
 
Aggressive traders can buy dips near 921 - 919.50 area for obj. near 932 - 934.50 area and possibly near 936.  (Use a sell stop and rev. short at 916).
 
Aggressive traders can sell rallies near 934.50 - 936.80 area for obj. near 931 - 929 area.  (Use a buy stop and rev. long at 944).
 
Buy stop at 924.50 for obj. near 932 - 934.50 area. 
Buy stop at 944 for obj. near 947 - 950 area and possibly near 953.
 
Sell stop at 916 for obj. near 913.50 - 912 area.
Sell stop at 908 for obj. near 903.50 - 900.50 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 05/09/03 (12:12 pm est)

 
Long positions were taken on the buy stop at 924.50 and also on the sell-off down to 921.50.  The rally up to 931 is showing enough strength technically for prices to continue to the upside. 
 
It is recommended to cancel all sell orders.  The market is showing too much strength at this time.  Profits will be taken between 932 and 934 to cover all long positions and complete the trade. 

Results:    05/09/03

Bought @ 924.50           Sold @ 932          = + $1,875.00 
Bought @ 921.50           Sold @ 932          = + $2,625.00
TOTAL (P & L)                                             + $4,500.00
The week in review - 05/12/03 - 05/16/03
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 05-12-03:  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 June contract -
933.30 peak and 933.50 weekly top also 935.20 newly developed long-term major weekly channel also 935.50 weekly channel (very major area) / 937 day top (major) / 938.80 newly developed weekly channel and 939.50 weekly top also 940.80 monthly channel and 942.20 weekly channel (very major area) / 948.40 minor upper channel (major) / 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 and 978.80 weekly channel (very major area).
 
Support:  For the June contract -
930.60 intra-day channel and 929.30 base also 928.30 base and 927.50 base (major area) / 925.80 major weekly channel and 925 minor day channel also 924.90 weekly channel (very major area) / 922.50 minor day channel and 921.50 day bottom also 920.40 day session closing price and gap (major area) / 919.40 GBX bottom and 918 day bottom (major area) / 915.90 minor weekly channel also 914.10 minor weekly channel and 912.60 minor day channel (very major area) / 904 minor channel (major) / 900.50 day bottom and 900.30 minor weekly channel also 898.60 weekly gap and 897.70 monthly channel (very major area) / 895.30 weekly GBX channel (major) / 889.50 minor day channel and 885 weekly bottom (major area).
 
Comments: 
    The rally on Friday from the support area took the closing price on Friday higher then the previous  week leaving the weekly chart neutral to slightly bullish inside a tight weekly neutral range between 935.20 and 925.80.  The monthly range remains between 940.80 and 897.70 area.  The day session neutral trading range is also narrow between 936 to 930.60.  Since the overall momentum remains up, long positions seem to be the better play at this time.  Only a trade below the 924.90 - 922.50 area is slightly bearish and only a trade below the 815.90 weekly channel can challenge the 897.70 monthly support.  A trade below 897.70 can reverse the momentum down for lower prices to follow.  Remain neutral to bullish until the market can prove otherwise.  A trade above the 940.80 area will confirm higher prices to follow.  A trade above 953 can challenge the 966 top and possibly near the 978.80 major resistance.
                                       
Day trades:  For the June contract -
 
Aggressive traders can buy dips near 930.60 and if possible near 927 - 925.80 area for obj. near 934 - 936 area.  (Use a sell stop and rev. short at 919).
 
Sell stop at 919 for obj. near 916 - 913 area.
Sell stop at 909 for obj. near 905 - 904 area.
Sell stop at 903 for obj. near 900.50 - 897.70 area.
Sell stop at 894 for obj. near 890 and possibly near 889.
 
Buy stop at 944 for obj. near 947 - 948 area and possibly near 953.
Buy stop at 957.80 for obj. near 962 - 966 area.
Buy stop at 970.30 for obj. near 976 - 978 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 05/12/03 (1:44 pm est)

 
The buy stop was hit at 944 putting traders into long positions.  The double top at 945 and the top heavy formation can now stimulate some selling pressure.
 
It is recommended to exit the long position at the market, which is trading at 942.50 at this time, and cut losses.

Results:    05/12/03

Bought @ 930.50         Sold @ 935          = + $1,125.00
Bought @ 944             Sold @ 942.50      = -  $   375.00
TOTAL (P & L)                                           + $   750.00
 
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 05-13-03:  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 June contract -
944.50 intra-day channel also 945.20 and 945.70 peaks also 945.80 newly developed long-term day channel and 946.70 day top (major area) / 953 monthly channel and 953.30 weekly top also 954.80 weekly chart's top (very major area) / 962.30 day gap and 966.40 major weekly top (very major) / 978 major monthly channel and 978.80 weekly channel (very major area) / 986 day top (major) / 990.10 monthly closing price also 993.80 and 995.80 weekly tops (very major area).
 
Support:  For the June contract -
943 and 941.80 base (major area) / 937.50 base and 936.60 minor day channel with GBX prices (major area) / 934.50 minor day channel and 934 intra-day channel also 933 base (major area) / 928 day bottom (major) / 925.80 major weekly channel also 925.50 day channel and 924.90 weekly channel (very major area) / 921.50 day bottom and 920.40 day gap (major area) / 919.40 GBX bottom and 918 minor day channel and day bottom (major area) / 915.90 minor weekly channel also 914.10 minor weekly channel (very major area) / 910.50 day bottom (major) / 904.50 minor day channel (major) / 900.50 day bottom and 899 weekly bottom also 898.60 weekly gap and 897.70 monthly channel (very major area).
 
Comments: 
    The follow through rally on Monday managed to trade and close above the 940.80 monthly channel, which is bullish, leaving the chart facing the 953 - 954.80 resistance.  A trade above 953 - 954.80 area can bring prices up to challenge the 966 major top and possibly near 978 resistance.  A trade today below the 936.60 area is slightly bearish but only a trade below the 925.80 - 924.90 area can bring any solid bearishness back to the chart.  Remain defensive inside today's 944.50 - 936.60 neutral area.
                                           
Day trades:  For the June contract -
 
Aggressive traders can buy dips near 936.60 - 934 area for obj. near 940.50 - 942.50 area.  (Use a sell stop and rev. short at 931.50).
 
Very aggressive traders can sell near 944 - 946 area for obj. near 940 - 938 area.  (Use a buy stop and rev. long at 948.30).
 
Aggressive traders can buy dips near 926 - 925 area for obj. near 932 - 934 area.  (Use a sell stop and rev. short at 922.80).
 
Sell stop at 931.50 for obj. near 928 - 926 area.
Sell stop at 922.80 for obj. near 920.40 gap - 918 area and possibly near 915.80.
Sell stop at 912.50 for obj. near 910.50 - 909.
 
Buy stop at 948.30 for obj. near 951 - 953 area.
Buy stop at 957.80 for obj. near 962 - 966 area.
Buy stop at 971 for obj. near 975 - 978 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 05/13/03 (10:44 am est)

 
The double top at 943.50 proved to be a significant resistance near the 944 sell area were short positions were taken.  The sell-off down to the 938 obj. completes the trade. 

Results:    05/13/03

Sold @ 943                  Bought @ 939   = + $1,000.00
TOTAL (P & L)                                         + $1,000.00
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 05-14-03:  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 -
943.70 and 944 intra-day peaks (major area) / 946.10 newly developed long-term day channel and 947 day top also 948.40 rev. channel (very major area) / 953 monthly channel and 953.30 weekly top also 954.80 weekly chart's top (very major area) / 962.30 day gap and 966.40 June contract's weekly top (very major area) / 978 major monthly channel and 978.80 weekly channel (very major area) / 986 day top (major) / 990.10 monthly closing price also 993.80 and 995.80 weekly tops (very major area).
 
Support:  For the June contract -
941 base and 940 intra-day channel (major area) / 939 base and 938.20 day bottom (major area) / 933.50 rev. peak and 933 base also 932 minor day channel (major area) / 928.80 minor day channel and 928.70 major day channel also 928 day bottom (very major area) / 925.80 major weekly channel and 924.90 weekly channel also 923.60 minor day channel (very major area) / 921.50 day bottom and 920.40 day gap also 919.40 GBX bottom and 918 day bottom (major area) / 915.90 minor weekly channel also 914.10 minor weekly channel (very major area) / 910.50 day bottom (major) / 905 minor day channel (major) / 900.50 day bottom and 899 weekly bottom also 898.60 weekly gap and 897.70 monthly channel (very major area). 
 
Comments: 
    Tuesday's trading range remained inside the neutral area as expected.  The market is now facing the 953 - 954.80 major resistance and the 932 - 925.80 major support.  A trade above the 953 - 954.80 area can challenge the 966 major top and 978 major channel.  A trade below 932 - 925.80 area can challenge the 897.70 monthly channel support.  Remain defensive inside the 953 - 932 trading area.
                                               
Day trades:  For the June contract -
 
Very aggressive traders can sell rallies near 952 - 954.80 area for obj. near 947 - 945 area.  (Use a buy stop and rev. long at 957.80).
 
Aggressive traders can buy dips near 933 - 932 area for obj. near 939 - 941 area.  (Use a sell stop and rev. short at 922.70).
 
Buy stop at 948.70 for obj. near 952 - 954.80 area. 
 
Buy stop at 971 for obj. near 975 - 978 area.
 
Sell stop at 936 for obj. near 933.50 - 932 area.
Sell stop at 922.70 for obj. near 920.40 gap - 918 area.
 
Aggressive traders can attempt long positions near 926.50 - 925.80 area for obj. near 931 - 934 area.  (Use a sell stop and rev. short at 922.70).
 

* 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 05/14/03 (11:10 am est)

 
The sell stop was hit at 936 putting traders into short positions.  The chart formation is showing support in this area at this time and can stimulate rallies. 
 
It is recommended to exit all short position at the market and cut losses.  the market is  trading at 938 at this time.
 
Aggressive traders can enter long positions near the 937 area for obj. near 940 - 941 area and possibly near 944.  (Use a sell stop and rev. short at 931).

Bulletin - Originally sent 05/14/03 (3:24 pm est)

 
The sell-off down to 934.50 is near enough to the 933.50 - 932 support area putting traders into long positions.  The obj. is still near 939 - 941 area.  Continue to use a sell stop and rev. short at 931. 

Bulletin - Originally sent 05/14/03 (3:53 pm est)

 
The rally up to 939 - 940.50 area completes trade from the long position taken at 934.50.

Results:    05/14/03

Sold @ 936                 Bought @ 937      = -  $   250.00     bought as per bulletin
Bought @ 937             Sold @ 940          = + $   750.00     bought as per bulletin
Bought @ 934.50        Sold @ 939           = + $1,125.00
TOTAL (P & L)                                           + $1,625.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 05-15-03:  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 -
941 peak and 943.50 intra-day gap (major area) / 947.10 newly developed long-term day channel and 948 day top (major area) / 953 monthly channel and 953.30 weekly top also 954.80 weekly chart's top (very major area) / 962.30 day gap (major) / 966 weekly chart's top and 966.40 June contract's weekly top (very major area) / 978 major monthly channel and 978.80 weekly channel (very major area) / 986 day top (major) / 990.10 monthly closing price also 993.80 and 995.80 weekly top (very major area).
 
Support:  For the June contract -
939.40 intra-day channel also 938.80 and 937.70 minor day channels (major area) / 935 minor day channel and 934.50 day bottom (major area) / 932.20 weekly closing price and 932 major day channel with GBX prices (very major area) / 928 day bottom (major) / 925.80 weekly channel also 924.10 minor weekly channel (very major area) / 922.50 minor day channel and 921.50 day bottom also 920.40 day gap (major area) / 919.40 GBX bottom and 918 weekly bottom also 917.90 minor day channel (major area) / 915.80 minor weekly channel also 914.10 minor weekly channel (very major area) / 911.25 minor day channel and 910.50 day bottom (major) / 905.50 minor day channel (major) / 900.50 day bottom and 899 weekly bottom also 898.60 weekly gap and 897.70 major monthly channel (very major area).
 
Comments: 
    The market closed on Wednesday down for the second day in a row but managed to stay inside the daily neutral range leaving the chart neutral again inside the 947.10 and 937.70 area.  The weekly range still remains inside the 953 - 925.80 area.  A breakout to either side of the weekly range can point a direction.  Remain defensive inside the 947.10 - 937.70 neutral area.
                                                   
Day trades:  For the June contract -
 
Aggressive traders can buy dips near 940 - 938 area for obj. near 946 - 947 area.  (Use a sell stop and rev. short at 931).
 
Very aggressive traders can sell rallies near 952 - 954 area for obj. near 946.50 - 944 area.  (Use a buy stop and rev. long at 957.80).
 
Sell stop at 930 for obj. near 928 - 926 area.
Sell stop at 922 for obj. near 920.40 gap - 918 area.
Sell stop at 912 for obj. near 908 - 905.50 area.
 
Buy stop at 957.80 for obj. near 962.30 gap and possibly near 966 top.
Buy stop at 971 for obj. near 975 - 978 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 05/15/03 (1:41 pm est)

 
Long positions were taken at the 940 level.  The rally up to 945 is near enough to the 946 obj. and completes the trade.

Results:    05/15/03

Bought @ 940        Sold @ 945          = + $1,250.00
TOTAL (P & L)                                      + $1,250.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 05-16-03:  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 -
946.70 intra-day double peak and 948.50 day top (major area) / 953 monthly channel and 953.30 weekly top also 954.80 weekly chart's top (very major area) / 962.30 day gap (major) / 966 weekly chart's top and 966.40 June contract's weekly top (very major area) / 978 major monthly channel and 978.80 weekly channel (very major area) / 986 day top (major) / 990.10 monthly closing price also 993.80 and 995.80 weekly top (very major area).
 
Support:  For the June contract -
944.80 intra-day channel and 943.50 base (major area) / 942.90 and 941.90 minor day channels also 941 minor day channel (major area) / 939 minor day channel and 938.20 day bottom (major area) / 935 major day channel and 934.50 day bottom (very major area) / 928 day bottom and 925.80 major weekly channel also 924.50 day channel and 924.10 weekly channel (very major area) / 921.50 day bottom to 920.40 day gap also 919.40 GBX bottom and 918 weekly bottom (major area) / 915.80 and 914.10  minor weekly channels (very major area) / 906 minor day channel (major) / 900.50 day bottom and 899 weekly bottom also 898.60 weekly gap and 897.70 major monthly channel (very major area).
 
Comments: 
    The rally on Thursday from the support level managed to close up at the highest settling price in 8 months, but still faces the major resistance at 953.  A trade above 953 - 954.20 area can bring prices up to challenge the 966 top and possibly near 978.  A trade today below 941 - 939 area is slightly bearish but a trade below 935 - 934.50 can bring prices down to challenge the 925.80 major support.  Remain defensive inside the 953 - 935 trading area and the 947 - 941 neutral area.
                                                       
Day trades:  For the June contract -
 
Aggressive traders can buy dips near 941 - 939 area and if possible near 935 for obj. near 947 - 953 area.  (Use a sell stop and rev. short at 932).
 
Aggressive traders can sell rallies near 952 - 954 area for obj. near 946 - 944 area.  (Use a buy stop and rev. long at 957.80).
 
Sell stop at 932 for obj. near 929 - 926 area.
Sell stop at 922.70 for obj. near 920.40 gap and possibly near 918 - 916 area.
Sell stop at 911 for obj. near 908 - 906 area.
 
Buy stop at 957.80 for obj. near 962 - 962.30 gap and possibly near 966.
Buy stop at 971 for obj. near 975 - 978 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 05/16/03 (1:02 pm est)

 
The sell-off put traders into Long positions at the 941 - 939 level.  The rally up to 944.50 seems worthy enough to take profits due to the extreme sell-off from this morning.
 
Exit long positions near 943.50 - 944 area to complete the trade.

Results:    05/16/03

Bought @ 940        Sold @ 944          = + $1,000.00     sold as per bulletin
TOTAL (P & L)                                      + $1,000.00
The week in review - 05/19/03 - 05/23/03
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 05-19-03:  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the June contract -
944.50 intra-day channel and 945.80 peak also 945.30 newly developed weekly channel and 946.30 intra-day channel (very major area) / 947.80 and 948.40 peaks also 949.50 weekly top (major) / 953 monthly channel and 953.30 weekly top also 954.80 weekly chart's top (very major area) / 962.30 day gap (major) / 966 weekly chart's top and 966.40 June contract's weekly top (very major area) / 975.50 newly developed weekly channel and 978 major monthly channel (very major area). 
 
Support:  For the June contract -
944.30 newly developed weekly channel and 942.50 base also 941.10 newly developed major weekly channel (very major area) / 939.70 weekly channel and 938 day bottom also 938 minor weekly channel (very major area) / 934.50 day bottom (major) / 928 weekly bottom and 926.20 minor weekly channel (very major area) / 921.50 day bottom to 920.40 day gap also 918 weekly bottom (major area) / 910.50 day bottom and 910.10 minor weekly channel (very major area) / 900.50 day bottom and 899 weekly bottom also 898.60 weekly gap and 897.70 major monthly channel (very major area).
 
Comments: 
    Friday's range remained inside the neutral trading area leaving the chart neutral inside a newly developed weekly range between 945.80 and 938 but is still facing the 953 monthly channel resistance.  A trade above 953 is a breakout for higher prices.  A trade below 941.10 and 938 fails the weekly support and can bring prices down to challenge the 926.20 and 910.10 weekly supports.  Remain defensive inside  the 946.30 - 938 neutral range.       
                                                           
Day trades:  For the June contract -
 
Aggressive traders can sell rallies near 944 - 946 area for obj. near 940 - 938.  (Use a protective buy stop at 949.70.  Do not rev. long).
 
Aggressive traders can buy dips near 938 for obj. near 942 - 944 area.  (Use a sell stop and rev. short at 935).
 
Aggressive traders can sell rallies near 952 - 954 area for obj. near 947 - 945 area.  (Use a buy stop and rev. long at 957.80).
 
Sell stop at 935 for obj. near 928 - 926 area.
Sell stop at 923 for obj. near 920.40 gap and possibly near 919.
Sell stop at 915 for obj. near 911.50 - 910.10 area.
Sell stop at 907 for obj. near 901 - 897.70 area.
 
Buy stop at 957.80 for obj. near 962.30 gap and possibly near 966 top area.
Buy stop at 970 for obj. near 974 - 978 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 05/19/03 (10:24 am est)

 
The sell stop was hit at 935 putting traders into short positions.  The sell-off down to 929 is near enough to the 928 obj. for the buy.  This completes the trade.
 
Bulletin - Originally sent 05/19/03 (11:15 am est)
 
Since the 926.10 is the very major support on the weekly chart long positions can be attempted.
 
Aggressive traders can attempt long positions near 928 - 926.1- area for obj. near 932 - 934 area.  Continue to use a sell stop and rev. short at 923.

Bulletin - Originally sent 05/19/03 (12:22 pm est)

 
The sell stop was hit putting traders into short positions.  Traders should now use a protective buy stop at 928.50 to protect short positions until the 920.40 - 919 obj. is met.

Bulletin - Originally sent 05/19/03 (2:07 pm est)

 
Short positions were taken at 923.  Due to the technical formation at this time the sell-off at 921.30 should be considered worthy to take profit and complete the short position trade.

Results:    05/19/03

Bought @ 938            Sold @ 935                  = -  $   750.00
Sold @ 935                Bought @ 929              = + $1,500.00
Bought @ 927            Sold @ 923                  = -  $1,000.00
Sold @ 923                Bought @ 921.50         = + $   375.00
TOTAL (P & L)                                                 + $   125.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 05-20-03:  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the June contract -
923.50 intra-day channel also 924.30 and 925.20 peaks (major area) / 928.20 and 930 peaks also 929.10 minor day channel (major area) / 933.70 day channel with GBX prices (very major area) / 937 peak and 939.30 day top (major area) / 941.60 GBX top and 944.30 weekly closing gap (major area) / 947.80 long-term major day channel and 949.50 weekly top (very major area) / 953 monthly channel and 953.30 weekly top also 954.80 weekly chart's top (very major area) / 962.30 day gap (major) / 966 weekly chart's major top and 966.40 June contract's weekly top (very major area) / 975.50 weekly channel and 978 monthly channel (very major area).
 
Support:  For the June contract -
922.20 newly developed day channel and 921.80 intra-day channel (major area) / 919.50 day bottom and 918 weekly bottom (major area) / 910.50 day bottom and 910.10 weekly channel (very major area) / 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 bottom (major) / 885 weekly bottom (very major area) / 878.10 and 876.80 day bottoms (major area) / 868.50 weekly bottom and 865.70 GBX weekly bottom (very major area).
 
Comments: 
    The sell-off on Monday from the resistance area brought prices down to a technically neutral to slightly bearish area.  A trade today above 933.70 is slightly bullish but only a trade above the 953 area can bring any solid bullishness back to the chart.  The support at 910.10 is significant.  A trade below 910.10 can bring prices down to challenge the 897.70 monthly channel support.  Remain defensive inside the 933.70 to 910.10 neutral trading area.   
                                                           
Day trades:  For the June contract -
 
Aggressive traders can sell rallies near 928 - 929 area and if possible near 933 for obj. near 923 - 921.50 area.  (Use a protective buy stop at 936.70.  Do not rev. long).
 
Aggressive traders can attempt long positions near 911.50 - 910.10 area for obj. near 918 - 919 area.  (Use a sell stop and rev. short at 907).
 
Sell stop at 917 for obj. near 911.50 - 910.10 area.
Sell stop at 907 for obj. near 901 - 899 area.
Sell stop at 894 for obj. near 889 - 885 area.
 
Buy stop at 957.80 for obj. near 962.30 gap and possibly near 966 top 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 05/20/03 (2:48 pm est)

 
The sell stop was hit at 917 putting traders into short positions.  The sell-off down to 913.20 is showing signs of support. 
 
Traders can exit the short positions near the 913.50 area and take profits, since the 910.10 area is so significant.

Bulletin - Originally sent 05/20/03 (2:48 pm est)

 
Long position were taken at 913.20.  The obj. is near 917 - 919 area.  Continue to use a sell stop and rev short at 907.

Bulletin - Originally sent 05/20/03 (2:48 pm est)

 
Long positions were taken at 913.20.  The rally up to 917 meets the obj. and completes the trade.

Results:    05/20/03

Sold @ 917                   Bought @ 913.20       = + $   950.00
Bought @ 913.20           Sold @ 917               = + $   950.00
TOTAL (P & L)                                                  + $1,900.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 05-21-03:  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the June contract -
921.20 peak and 923 intra-day channel (major area) / 924.90 peak and 925.80 day top also 925.80 day channel (very major area) / 928.20 and 930 peaks (major area) / 937 peak and 939.30 day top (major area) / 941.60 GBX top and 944.30 weekly gap (major area) / 947 long-term major day channel and 949.50 weekly top (very major area) / 953 monthly channel and 953.30 weekly top also 954.80 weekly chart's top (very major area) / 962.30 day gap (major) / 966 weekly top and 966.40 June contract's weekly top (very major area) / 975.50 weekly channel and 978 monthly channel (very major area).
 
Support:  For the June contract -
918.50 rev. channel and 917.10 base (major area) / 914.60 and 913.50 base also 913.70 newly developed major day channel (major area) / 911.20 and 910.50 day bottoms also 910.10 weekly channel (very major support area) / 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) / 885 weekly bottom (very major area) / 878.10 and 876.80 day bottoms (major area) / 868.50 weekly bottom and 865.70 GBX weekly bottom (very major area).
 
Comments: 
    The sell-off on Tuesday brought prices down near the major support area at 910.10, which proved to be supportive enough to stimulate some buying and can possibly bring prices back up near the 930 and 940 area again.  NOTE:  Only a trade above the 947 - 953 area can bring any solid bullishness back to the chart.  A trade below 910.10 can bring prices down to challenge the 897.70 monthly channel.  Remain defensive inside the 925.80 - 913.50 neutral trading area.
                                                               
Day trades:  For the June contract -
 
Aggressive traders can buy dips near 914 - 911.50 area for obj. near 921 - 923 area.  (Use a sell stop at 907).
 
Aggressive traders can sell rallies near 924 - 925.80 area for obj. near 920.50 - 918.50 area.  (Use a buy stop and rev. long at 926.70).
 
Sell stop at 907 for obj. near 902 - 899 area and possibly near 897.70.
Sell stop at 892.30 for obj. near 888 - 884 area.
 
Buy stop at 926.70 for obj. near 928.50 - 930 area.
Buy stop at 933 for obj. near 936 - 939 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 05/21/03 (9:46 am est)

 
The market is holding the 915.50 area as support.  It is possible for the market not to reach the 914 buy area. 
 
Aggressive traders can buy at the market, which is trading at 917.  (Continue to use the sell stop at rev. short at 907).

Bulletin - Originally sent 05/21/03 (10:14 am est)

 
Long positions were taken at 917.  The rally up to 920.20 is near enough to the 921 obj. and completes the trade.

Bulletin - Originally sent 05/21/03 (1:24 pm est)

 
Short positions were taken at 924.  The sell-off down to 920.20 is near enough to the 920 obj. and completes the trade.

Results:    05/21/03

Bought @ 917               Sold @ 920.20           = + $  800.00
Sold @ 923                   Bought @ 920            = + $  750.00
Bought @ 915.50           Sold @ 921               = + $1,375.00
Sold @ 924                   Bought @ 920.20       = + $   950.00
TOTAL (P & L)                                                  + $3,875.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 05-22-03:  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 -
922.20 minor day channel and 923 intra-day channel also 923.50 and 923.80 peaks (major area) / 924 and 925.80 day tops (major area) / 928.20 and 930 peaks (major area) / 937 peak and 939.30 day top (major area) / 941.60 GBX top to 944.30 weekly closing gap (major area) / 945.70 long-term weekly channel also 946.10 long-term major day channel and 949.50 weekly top (very major area) / 953 monthly channel and 953.30 weekly top also 954.80 weekly chart's top (very major area) / 962.30 day gap (major) / 966 weekly top and 966.40 June contract's top (very major area) / 975.50 weekly channel and 978 monthly channel (very major area).
 
Support:  For the June contract -
920.60 intra-day channel and 920.20 base (major area) / 917.80 day channel and 916 base also 915.20 minor GBX channel and 914.50 day bottom (major area) / 913.20 GBX bottom and 911.20 day bottom also 910.10 weekly channel (very major area) / 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) / 885 weekly bottom (very major area) / 878.10 and 876.80 day bottoms (major area) / 868.50 weekly bottom and 865.70 GBX weekly bottom (very major area).
 
Comments: 
    The rally on Wednesday from the support area materialized as expected due to the significance of the 910.10 weekly channel support.  The close on Wednesday was up for the day but below the previous day's close leaving the chart neutral inside a tight range between 928.20 and 917.80.  The weekly trading range remains between 945.70 and 910.10.  A trade above 928.20 - 930 area can bring prices up to challenge the 939.30 - 945.70 area.  A trade above 953 will be considered a breakout for higher prices.  A trade below 910.10 will fail the weekly channel support for prices to challenge down to the 897.70 monthly support.  Remain defensive today inside the 928.20 - 917.80 neutral range.   
                                                                   
Day trades:  For the June contract -
 
Aggressive traders can buy dips near 917.80 - 915.20 area and if possible near 911 for obj. near 922 - 924 area.  (Use a sell stop and rev. short at 907).
 
Aggressive traders can sell rallies near 925.80 - 928 area for obj. near 922 - 918 area.  (Use a buy stop and rev. long at 931).
 
Sell stop at 907 for obj. near 902 - 899 area and possibly near 897.70.
Sell stop at 892 for obj. near 888 - 885 area.
 
Buy stop at 931 for obj. near 936 - 939 area and possibly near 941.60 gap.
Buy stop at 957.80 for obj. near 962 - 962.30 gap and possibly near 966 top.
 

* 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 05/22/03 (9:46 am est)

 
Short positions were taken on the opening at 924.50 and met the obj. at 922.  The sell area between 925.80 and 928 can still be considered at the higher end near the 928 area.  (Continue to use a buy stop and rev. long at 931).

Bulletin - Originally sent 05/22/03 (10:12 am est)

 
Short positions were taken at 928, which was the high end of the sell area.  Because of the supportiveness this morning at the 922 area, the obj. for the new short position is at 924.50 - 923.50 area.  (Continue to use the buy stop and rev. long at 931).

Bulletin - Originally sent 05/22/03 (11:51 am est)

 
The buy stop was hit at 931, putting traders into long positions.  The market is proving to show resistance at the 933 area, that can possibly put a lid on rallies for a while. 
 
It is recommended to exit long positions near 929 - 930 area and cut losses. 

Results:    05/22/03

Sold @ 924.50         Bought @ 922.50     = + $   500.00
Sold @ 928              Bought @ 931         = -  $   750.00
Bought @ 931          Sold @ 929             = -  $   500.00
TOTAL (P & L)                                          -  $   750.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 05-23-03:  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 -
931.80 and 932.20 peaks also 931.90 day channel (major area) / 934.10 minor day channel and 935.40 day top (major area) / 939.30 day top and 941.60 GBX top (major area) / 944.30 weekly closing gap and 945.30 long-term major day channel also 945.70 long-term weekly channel (very major area) / 949.50 weekly top and 953 monthly channel also 953.30 weekly top and 954.80 weekly chart's top (very major area) / 962.30 day top (major) / 966 weekly top and 966.40 June contract's top (very major area) / 975.50 weekly channel and 978 monthly channel (very major area).
 
Support:  For the June contract -
929.70 day channel also 929 and 927.50 base (major area) / 927.50 intra-day channel and 926.40 minor day channel also 926 base (major area) / 924.50 base and 924.30 intra-day gap also 922.10 day bottom (major area) / 920.20 minor day channel and 919.80 GBX bottom and 918.20 major day channel (very major area) / 914.50 day bottom and 913.20 GBX bottom (major area) / 911.50 day bottom and 910.10 weekly channel (very major area) / 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) / 885 weekly bottom (very major area).
 
Comments: 
    The follow through rally on Thursday managed to settle up for the second day in a row, removing it from bearish conditions, leaving the chart neutral inside the 945.70 - 910.10 weekly trading range.  A breakout to either side can prove to point a direction.  Remain defensive inside the first neutral area between 934.10 and 926.40.   
                                                                       
Day trades:  For the June contract -
 
Aggressive traders can sell rallies near 931 - 934 area or buy dips near 929 - 926 area, whichever side comes first to complete the trade.  (Use a buy stop and rev. long at 936.70).  (Use a sell stop and rev. short at 925).
 
Buy stop at 936.70 for obj. near 939 - 941 area.
Buy stop at 946.30 for obj. near 949 and possibly near 953.
Buy stop at 957.80 for obj. near 962.30 gap and possibly near 966 top.
 
Sell stop at 925 for obj. near 922 gap and possibly near 918.20.
Sell stop at 907 for obj. near 902 - 899 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 05/23/03 (9:54 am est)

 
The sell off down to 928 put traders into long positions.  The rally up to 930.80 meets the obj. and completes the trade.

Bulletin - Originally sent 05/23/03 (10:06 am est)

 
Short positions were taken at 930.50.  The sell off down to 927.50 now completes the trade.

Results:    05/23/03

Bought @ 928          Sold @ 930.50        = + $   625.00
Sold @ 930.50         Bought @ 927.50     = + $   750.00
TOTAL (P & L)                                           + $1,375.00

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.

ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.

THERE IS RISK OF LOSS IN ALL TRADING. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. ALL RESULTS ARE HYPOTHETICAL. NO IMPLICATION IF BEING MADE THAT ANYONE UTILIZING THE TECH GURU REPORT HAS OR CAN OBTAIN SUCH PROFITS AND RESULTS. THIS INFORMATION IS NOT A RECOMMENDATION TO BUY OR SELL AT THIS TIME, BUT MERELY A PRESENTATION OF TRADES STRATEGIES. THE INFORMATION CONTAINED HEREIN HAS BEEN OBTAINED FROM SOURCES BELIEVED RELIABLE, BUT IS NOT GUARANTEED AS TO THE ACCURACY OR COMPLETENESS. PLEASE CHECK MARKET FUNDAMENTALS AND TECHNICAL CONDITIONS BEFORE CONSIDERING THESE OR ANY TRADES. 

 

 

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