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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 - 05/27/03 - 05/30/03
The Tech Guru's S & P Day
Trading Recommendations
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P - For Tuesday
05-27-03: NOTE: After
each support and resistance listed will designate a value - (very
major) holds the highest importance, then (major), (very significant),
and (significant) is of the least value. Very
aggressive trades - are trades that are against the
trend or a high dollar risk when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell stop inside a buy
area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter or
complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where stops ARE NOT
mentioned, they should be placed below the second support
area listed or above the second resistance area listed,
or 22 points from the (trade entry point), whichever is the
lesser amount. NOTE: The
first support area becomes the resistance after the market
trades through the second support area listed.
The first resistance area becomes the support after the market
trades through the second resistance area listed.
Resistance:
For the June contract -
932.10 day channel and 932.50 intra-day channel also 933 peak and
933.40 day channel with GBX prices also 933.70 minor weekly channel
and 935 day top (major area) / 939.30 weekly top and
941.60 GBX weekly top (major area) / 944.50
long-term major day channel and 944.30 day gap (very
major area) / 949.50 weekly top (major)
/ 953 monthly channel and 953.20 weekly channel
also 953.30 weekly top and 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 (major
area) / 972.30 major weekly channel
(very major area) / 978
monthly channel (very major area).
Support: For
the June contract -
929.50 base and 926.70 day bottom (major area) / 923.50 newly
developed major weekly channel and 922.10 day bottom (very
major area) / 920.70 major day
channel and 919.90 weekly channel also 919.80 GBX bottom and 918.60
base (very major area)
/ 916.50 minor weekly channel and 914.50 day
bottom also 914.50 minor day channel and 913.20 GBX bottom (very
major area) / 911.20 weekly bottom and 910.50 day
bottom (major area) / 900.50
day bottom and 899 weekly bottom also 897.70 monthly channel (very
major area) / 895.30 GBX weekly bottom (major
area) / 885 weekly bottom (very
major area).
Comments:
Friday's trading range remained inside the neutral
area closing the week lower leaving the chart neutral between the
953.20 and 919.90 weekly trading range. The daily neutral range
today is between 933.70 and 920.70. Remain defensive between
these areas until a breakout to either side can develop.
Day
trades: For the June contract -
Aggressive traders can sell rallies near 932 - 935
area or buy dips near 924 - 920 area, whichever side comes first to
complete the trade. (Use a buy stop and rev. long at 937).
(Use a protective sell stop at 916. Do not rev. short).
Buy stop at 937 for obj. near 940 - 944 area.
Buy stop at 957.80 for obj. near 962.30 gap and
possibly near 966 top.
Sell stop at 907 for obj. near 902 - 897.70 area.
Sell stop at 892 for obj. near 888 - 885 area.
Bulletin - (Originally sent 5/27/02 11:09 am et) The buy stop at 937 was hit putting traders into long positions. The rally up to 940 - 944 area completes the trade. The market is showing resistance at the 944.50 area, which is the long-term major channel on the daily chart. Aggressive traders can consider short positions for a retracement from this resistance. Aggressive traders can sell near 944 - 943 area for an obj. near 937. (Use a protective buy stop at 947.80). Bulletin - (Originally sent 5/27/02 3:39 pm et) Since The 953 major monthly channel is a significant resistance it can still be considered a selling area. Aggressive traders can sell near 951.5- - 953 area for obj. near 947 - 944 area. (Continue to use a buy stop and rev long at 957.80). Bulletin - (Originally sent 5/27/02 4:14 pm et) Traders wishing to hold short positions overnight can do so and continue to use a buy stop in the overnight market at 958. Results: 05/27/03
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P -
For Wednesday 05-28-03: 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 -
950.30 intra-day channel also 950.80 and 951 peaks (major
area) / 951.70 and 952 peaks also
952.50 newly developed long-term day channel and 953.30 day 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) / 972.30 major
weekly channel (very major
area) / 978 monthly 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 -
947.80 and 947.50 intra-day channels also 946 base (major
area) / 944.60, 942.20 and 940.60 base (major
area) / 930.50 newly developed day
channel (very major area)
/ 927 and 926.70 day bottoms also 925.50 day channel (major
area) / 923.50 major weekly channel
and 922.10 day bottom (very
major area) / 919.90 weekly
channel also 919.80 GBX bottom and 918.60 base (very
major area) / 916.50 minor
weekly channel and 916 minor day channel (very
major area) / 914.50 day bottom and 913.20 GBX
bottom (major area) / 911.20 weekly bottom and
910.50 day bottom (major area) / 900.50
day bottom and 899 weekly bottom also 898.60 weekly closing gap
and 897.70 monthly channel (very
major area).
Comments:
The rally on Tuesday brought prices up near a
very critical resistance area that can prove to be significant
enough to stimulate selling for retracements down near the weekly
channel support at 923.50. Trades above the 953.30 - 954.80
area can bring prices up to challenge the 966 top and
possibly near the 972.30 - 978 resistance area. A trade
today below the 944.60 - 940.60 area is slightly bearish but only
a trade below the 930.50 and 923.50 area can bring any solid
bearishness back to the chart. Remain defensive today inside
the 954.80 - 947.50 neutral trading area.
Day
trades: For the June contract -
Aggressive traders can buy dips near 948.50 -
947.50 or sell rallies near 953 - 955 area, whichever side comes
first to complete the trade. (Use a buy stop and rev. long
at 958.70). (Use a sell stop and rev. short at 945).
Aggressive traders can buy dips near 933 - 930.50
area for obj. near 938 - 941 area. (Use a protective sell
stop at 928. Do not rev. short).
Buy stop at 958.70 for obj. near 962.30 gap and
possibly near 966 top area.
Sell stop at 945 for obj. near 942 - 941 area.
Sell stop at 938 for obj. near 933 - 930.50.
Bulletin - (Originally sent 5/28/02 10:12 am et) Short positions were taken at 954. The sell-off down to 950.30 is proving to hold support where traders should consider taking profits. Exit short positions at the market. The market is trading at 951 at this time Bulletin - (Originally sent 5/28/02 1:26 pm et) The buy stop was hit at 958.70, putting traders into long positions. The market is proving the resistance at 962 - 966 to be significant enough to possibly reverse the momentum to the downside. Long positions taken should now use a protective sell stop at 949. Bulletin - (Originally sent 5/28/02 1:54 pm et) The market continues to show resistance for possible retracements to the downside. Long positions are now subject to having the stops at 949 to be hit. It is recommended for traders to exit long positions and cut losses. The market is trading at 952.80 at this time. This trade is considered complete with a loss. Results: 05/28/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Thursday 05-29-03: 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 -
955.20 intra-day channel and 955.80 peak (major
area) / 957.70 peak and 959 intra-day gap also
959.50 (major area) / 962.30 day gap (major)
/ 966 weekly chart's top and 966.40
June contract's weekly top (very
major area) / 972.30
major weekly channel (very
major area) / 978
monthly 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 -
950.50 base and 949.60 day bottom also 949.50 day gap and
948.80 GBX bottom (major area) / 936
intra-day channel and 935.50 rev. peak also 933.90 day
channel with GBX prices (major area) / 928
long-term day channel and 927 day bottom (very
major area) / 923.50
major weekly channel and 922.10 day bottom (very
major area) / 919.90
weekly channel also 919.80 GBX bottom and 918.60 base
(very major area)
/ 917 minor day channel and 916.50
minor weekly channel (very
major area) / 914.50 day bottom and 913.20
GBX bottom (major area) / 911.20 weekly
bottom and 910.50 day bottom (major area)
/ 900.50 day bottom and 899 weekly
bottom also 898.60 weekly closing gap and 897.70 monthly
channel (very major
area).
Comments:
Wednesday, the market refused to follow
through above the 962.30 gap after breaking above the
954.80 top, which can possibly be a signal that a top is
developing. The settling price on Wednesday at the
lower end of the trading range can prove to be a negative
signal for a retracement into lower prices. At
this time, only a trade above the 966.40 top area and
above the 972.30 - 978 area can prove a major uptrend is
intact. A trade today below the 948.80 GBX bottom is
slightly bearish but only a trade below 936 and 923.50
areas can bring any solid bearishness back to the chart.
Remain defensive inside the 959 - 949 neutral trading
area.
Day
trades: For the June contract -
Aggressive traders can sell rallies near
954 - 957 area for obj. near 951 - 949 area. (Use a
buy stop and rev. long at 961.70).
Aggressive traders can buy dips near 937
- 935 area for obj. near 941 - 943 area. (Use a sell
stop and rev. short at 933).
Buy stop at 961.70 for obj. near 963 -
966 area.
Buy stop at 969.50 for obj. near 972 and
possibly near 975 - 978 area.
Sell stop at 945 for obj. near 940 - 938
area and possibly near 936.
Sell stop at 933 for obj. near 929 - 927
area.
Bulletin - (Originally sent 5/29/02 10:54 am et) The buy stop was hit at 961.70 putting traders into long positions. The market is showing resistance at the 962.30 gap area and completes the trade and can now stimulate selling pressure. If profits were not taken at the 962.20 area then exit long positions at the market and cut losses. Bulletin - (Originally sent 5/29/02 1:32 pm et) The sell-off down to the 951 - 949 area meets the obj. for short positions taken at the 962.20 area and completes the trade. Results: 05/29/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Friday 05-30-03: 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 -
953 and 954 peaks (major area) / 958.50
and 958.80 peaks (major) / 961.20 and
961.40 peaks also 962.20 day top and 962.30 day gap (major
area) / 966 weekly
chart's top and 966.40 June contract's weekly top
(very major area)
/ 972.30 major weekly channel
(very major area)
/ 978 monthly 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 -
947.80 and 947.50 base also 945.70 bottom (major)
/ 942.60 minor down channel (major) /
940 intra-day channel and base also 937.30 minor day
channel (major area) / 930.70 major day
channel (major area) / 927 and 926.70
day bottoms (major area) / 923.50
major weekly channel (very
major area) / 922.10 day bottom (major)
/ 919.90 weekly channel and 919.80
GBX bottom also 918.60 base and 917.50 minor day channel
(very major area)
/ 914.50 day bottom and 913.20 GBX bottom (major
area) / 911.20 weekly bottom and 910.50 day
bottom (major area) / 900.50
day bottom and 899 weekly bottom also 898.60 weekly
closing gap and 897.70 monthly channel (very
major area).
Comments:
The sell-off on Thursday from the
962.30 gap area proved the significance of the area and
can be a signal that a major top formation is in
progress. A trade above the 962.30 gap can bring
prices up to the 966 major weekly top and possibly
near the 972.30 and 978 channel resistances. A
trade above 978 will be considered a breakout and a
confirmation of a new major uptrend. A trade today
below the 940 - 937.30 area is bearish but only a trade
below the 923.50 weekly channel can prove to reverse the
momentum to the downside. Remain defensive inside
the 954 - 947.50 neutral trading area.
Day
trades: For the June contract -
Aggressive traders can sell rallies
near 952 - 954 area and if possible near 956 for obj.
near 949 - 947 area. (Use a protective buy stop at
963.70. Do not rev. long).
Aggressive traders can buy dips near
949 - 947 area for obj. near 952 - 954 area. (Use
a sell stop and rev. short at 945).
Aggressive traders can attempt short positions
near 965 - 967 area for obj. near 961 - 958 area and
possibly near 956. (Use a buy stop and rev. long
at 969.50).
Sell stop at 945 for obj. near 942.60 -
940 area and possibly near 938.
Sell stop at 935 for obj. near 931.50 -
930.50 area.
Buy stop at 969.50 for obj. near 972
and possibly near 975 - 978 area.
Results: 05/30/03
The week in review - 6/02/06 - 6/06/03
The Tech Guru's S & P Day
Trading Recommendations
A TECHNICAL
GUIDE FOR DAY TRADING THE S & P
S
& P - For Monday 06-02-03: 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 -
964 newly developed monthly channel and 964.80
peak also 965.90 weekly top and 966 monthly top (very
major area) / 968.95 major weekly
channel (very major
area) / 974.10 minor weekly upper
channel (major area) / 986 day
top (major) / 990.10 monthly
closing price and 991.20 monthly channel (very
major area) / 993.80 and 995.80
weekly tops also 995.80 and 996.50 monthly tops (major
area) / 1007.30 weekly top and 1009.10
weekly closing price (major area).
Support:
For the June contract -
963 intra-day channel and 962.50 base (major
area) / 960.50 and 959.30 base (major
area) / 957.90 monthly channel also
955.50 day channel with GBX prices and 954.50
intra-day channel (very
major area) /
947.50 monthly channel also 946.20 intra-day
channel and 945.70 day bottom (very
major area) / 940.80 day channel (very
major area) / 935.70 major weekly
channel also 933.20 major day channel and
932.20 weekly closing price (very
major area) / 929.70 minor weekly
channel and 927 weekly bottom (very
major area) / 921.80 minor weekly
channel and 921.10 bottom also 919.80 GBX bottom
and 918.50 minor day channel (major area)
/ 914.50 day bottom and 913.20 GBX bottom also
911.20 weekly bottom (very
major area).
Comments:
The rally on Friday brought
prices up to a very major resistance but managed
to close the end of the month at it's highest
settling price in ten months leaving the chart in
bullish condition. A trade above 968.95 and
974.10 can bring prices up to challenge the 991.20
monthly channel area. A trade below 957.90 -
955.50 area is slightly bearish but only a trade
below the 947.50 monthly channel can bring some
significant bearishness back to the chart.
Remain defensive inside the 968.95 - 957.90
neutral trading area.
Day
trades: For the June contract -
Aggressive traders can buy dips
near 963 - 957.90 area or sell rallies near 968 -
974 area, whichever side comes first to complete
the trade. (Use a sell stop and rev. short
at 952.50). (Use a buy stop and rev. long at
977.50).
Buy stop at 977.50 for obj. near
983 - 986 area and possibly near 990.
Sell stop at 952.50 for obj. near
949 - 947.90 area.
Sell stop at 944 for obj. near
942 - 940.80 area.
Bulletin - Originally sent 06/02/03 (12:37 pm est)
The 977.50 buy stop was
hit putting traders into long positions. The
market is now showing resistance at this area and
can stimulate selling.
It is recommended for
traders to exit long positions and cut losses.
The market is trading at 976.50 at this time.
Results: 06/02/03
A TECHNICAL GUIDE FOR DAY TRADING
THE S & P
S & P - For Tuesday
06-03-03: NOTE: After
each support and resistance listed will
designate a value - (very major) holds the
highest importance, then (major), (very
significant), and (significant) is of the least
value. Very
aggressive trades - are trades
that are against the trend or a high dollar risk
when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a
sell stop inside a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any
trade to enter or complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only.
Where stops ARE NOT mentioned, they should be
placed below the second support area
listed or above the second
resistance area listed, or 22 points from the (trade
entry point), whichever is the lesser
amount. NOTE: The
first support area becomes the resistance
after the market trades through the second
support area listed. The first
resistance area becomes the support after
the market trades through the second
resistance area listed.
Resistance: For
the June contract -
970.50 and 970.80
peaks (major) / 974.70 peak and
976 intra-day channel (major area)
/ 978.50 peak and 979.40 day top (very
major area) / 986 day top (major)
/ 990.10 monthly closing price and 991.20
monthly channel (very
major area) / 993.80 and 995.80
weekly tops also 995.80 and 996.50 monthly tops (major
area) / 1007.30 weekly top and 1009.10
weekly closing price (major area).
Support: For
the June contract -
967.60 day channel
and 965 day bottom (major area)
/ 963.30 weekly closing gap and 962.70 day
channel with GBX prices (major area)
/ 960.50 intra-day channel and 957.90 monthly
channel (very
major area) / 953 day bottom (major)
/ 949.50 intra-day channel and 949.20 day gap (major
area) / 945.70 day bottom and 943.50
minor day channel also 942.80 minor weekly
channel (very
major area) / 936 major day
channel and 935.70 major weekly channel (very
major area) / 930.50 and 929 day
channels also 929.70 minor weekly channel (very
major area) / 927 weekly bottom
and 926.70 day bottom (major area)
/ 922.10 day bottom and 921.80 minor weekly
channel also 919.80 GBX bottom also 919.50 minor
day channel (very
major area) / 914.50 day bottom
and 913.20 GBX bottom also 911.20 weekly bottom (very
major area).
Comments:
The
trading range on Monday remained above the
monthly closing price, which keeps the chart in
bullish territory. The sell-off from the
high on Monday puts the chart neutral and
defensive for a retracement down near the 957.90
support area and possibly near the 947.50
monthly support. Remain defensive inside
the 976 - 957.90 trading area.
Day
trades: For the June contract
-
Aggressive traders can
sell rallies near 970 - 974 area for
obj. near 963 - 960.50 area. (Use a buy
stop and rev. long at 982.50).
(Conservative traders can use a protective buy
stop at 977.50. Do not rev. long).
Aggressive traders can
buy dips near 960.50 - 957.90 area for
obj. near 965 - 967 area. (Use a sell stop
and rev. short at 952).
Buy stop at
982.50 for obj. near 985.50 - 986 area and
possibly near 989 - 991 area.
Sell stop at 952
for obj. near 949.50 - 947.50 area.
Sell stop
at 940 for obj. near 937 - 935.70 area.
Bulletin - Originally sent 06/03/03 (10:04 am est)
Short positions were
taken on the rally at 970. The
chart formation is supportive at this time.
It is recommended
for all traders to exit short positions and take
profits near 967.
Bulletin - Originally sent 06/03/03 (10:06 am est)
The sell off down to
967.30 is near enough to the 967 obj. and
completes the first trade.
Results: 06/03/03
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P -
For Wednesday 06-04-03: NOTE: After
each support and resistance listed will
designate a value - (very major) holds the
highest importance, then (major), (very
significant), and (significant) is of the
least value. Very
aggressive trades - are
trades that are against the trend or a high
dollar risk when wide stops are used. "The
Golden Rule"
- Do not use a buy stop
inside a sell area or a sell stop
inside a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any
trade to enter or complete a trade.
Special
instructions for using stops -
All stops listed are
for the day session only. Where
stops ARE NOT mentioned, they should be
placed below the second support
area listed or above the
second resistance area listed, or 22
points from the (trade entry point),
whichever is the lesser amount. NOTE: The
first support area becomes the resistance
after the market trades through the second
support area listed. The first
resistance area becomes the support
after the market trades through the second
resistance area listed.
Resistance: For
the June contract -
972.60 peak and
973.30 day top also 974.70 peak (major
area) / 978 newly developed
long-term day channel also 978.50 peak and
979.40 day top (very
major area) / 986 day top
and 986.40 minor upper channel (major
area) / 990.10 monthly closing
price and 991.20 monthly channel (very
major area) / 993.80 and
995.80 weekly tops also 995.80 and 996.50
monthly tops (major area) /
1007.30 weekly top and 1009.10 weekly
closing price (major area).
Support: For
the June contract -
969.80 minor day
channel with GBX prices also 968.30
intra-day channel (major area)
/ 966 and 964 base area also 963.50 day
bottom to 963.30 day gap (major
area) / 957.90 monthly channel (very
major area) / 953 day bottom
(major) / 949.20 day gap
and 947.50 monthly channel also 947.50 minor
day channel (very
major area) / 945.70 day
bottom and 942.80 minor weekly channel (very
major area) / 938 major day
channel and 935.70 major weekly channel (very
major area) / 933 and 931
day channels and 929.70 minor weekly channel
(very major
area) / 922.10 day bottom
and 921.80 minor weekly channel also 920
minor day channel and 919.80 GBX bottom (very
major area).
Comments:
Tuesday's trading range remained inside the
neutral area but managed to close up for the
8th day in a row out of 9 trading days,
leaving the chart in bullish condition for
possible higher prices. A trade above
the 978 - 979.40 area can bring prices up to
challenge the 986 - 986.30 area and possibly
near the 991.20 major monthly resistance.
A trade above the 991.20 - 996.50 area will
be considered a breakout for higher prices
to follow and confirm the major uptrend
intact. A trade today below the 969.80
- 968.30 area is slightly bearish but only a
trade below 957.90 can bring any solid
bearishness back to the chart. Remain
defensive inside the 978 - 969.80 neutral
trading range.
Day
trades: For the June contract
-
Aggressive traders
can buy dips near 971 - 968.50 area
for obj. near 975 - 978 area. (Use a
sell stop and rev. short at 967).
Sell
stop at 967 for obj. near 963.30 gap - 960
area.
Sell
stop at 954.70 for obj. near 949.50 - 947.50
area.
Buy
stop at 982.50 for obj. near 985 - 986.30
area and possibly near 988 - 991 area.
Bulletin - Originally sent 06/04/03 (9:35 am est)
Long positions
were taken at the opening at 971.50. The
obj. is still near 975 - 978 area.
(Continue to use a sell stop and rev. short at
967).
Bulletin - Originally sent 06/04/03 (11:13 am est)
The buy stop at
982.50 was hit, putting traders into long
positions. The market at this time is
showing resistance at the 983.80 area and can
possibly prevent the obj. of 985 to be met.
It is recommended
for traders to exit the long positions near
980.50 and cut losses.
Results: 06/04/03
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P -
For Thursday 06-05-03: 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 -
987.30 newly
developed long-term day channel and 988 day
top (major area) / 990.10
monthly closing price and 991.20 monthly
channel (very
major area) / 993.80 and
995.80 weekly tops also 995.80 and 996.50
monthly tops (major area) /
1003 day top and 1007.30 weekly top (major
area) / 1009.10 weekly closing
price and 1011 day top (major area)
/ 1015 weekly top (very
major area).
Support: For
the June contract -
985.50 and
984.50 base also 984.20 and 983.80 intra-day
channel (major area) /
981.70 and 980.50 base also 980 and 979 base
(major area) / 977.50 minor
day channel and 976.90 day channel with GBX
prices (very
major area) / 970.50 day
bottom (major) / 963.50 day
bottom and 963.30 weekly and monthly closing
gap (very
major area) / 957.90 monthly
channel (very
major area) / 953 day bottom
and 951 minor day channel (major
area) / 949.20 day gap and 948.40
GBX bottom also 947.50 monthly channel (very
major area).
Comments:
The follow through rally on Wednesday
brought prices up near a very significant
resistance area. The 991.20 monthly
channel resistance can possibly be
significant enough to put a lid on any
further rallies for a while. A trade
above the 991.20 - 996.50 area will be
considered a major breakout for higher
prices to follow. A trade today below
the 977.50 - 976.90 channel is slightly
bearish but only a trade below the 957.90
channel can bring any solid bearishness back
to the chart. Remain defensive inside
the 991.20 - 977.50 neutral area.
Day
trades: For the June contract
-
Aggressive
traders can buy dips near 980.50 -
978 area for obj. near 984 - 985 area.
(Use a sell stop and rev. short at 974).
Aggressive traders
can sell near 985 - 988 area for
obj. near 979 - 977.50. (Use a
protective buy stop at 989. Do not
rev. long).
Aggressive
traders can sell rallies near 990 -
991.20 area for obj. near 980 - 977.50 area.
(Use a buy stop and rev. long at 999.50).
Sell
stop at 974 for obj. near 970.50.
Sell
stop at 969 for obj. near 963.30 gap area.
Buy
stop at 999.50 for obj. near 1002 - 1003
area and possibly near 1005.
Bulletin - Originally sent 06/05/03 (10:04 am est)
Long positions were taken at
the 980.50 - 978 area. The rally up to
983.80 was near enough to the 984 obj. and
completes the trade.
Bulletin - Originally sent 06/05/03 (12:00 pm est)
Short positions
were taken at 985. The market is
remaining inside a neutral area, which can
possibly stimulate rallies to the 991 monthly
channel, which should be considered a selling
opportunity.
It is recommended
for traders to exit the short position and
scratch the trade. The market is trading
at 984 at this time.
Results: 06/05/03
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S &
P - For Friday 06-06-03: 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 -
991.20
monthly channel (very
major area) / 993.80 and
995.80 weekly tops also 995.80 and
996.50 monthly tops also 996.60 minor
upper channel (major area)
/ 1003 day top (major)
/ 1005.50 major upper channel and
1007.30 weekly top (very
major area) / 1009.10
weekly closing price and 1011 day top (major
area) / 1015 weekly top and
1017.50 day top (very
major area) / 1019
weekly closing price (major)
/ 1032 day top (major)
/ 1043.90 minor monthly channel and 1044
weekly top (very
major area) / 1047 day
top (major).
Support: For
the June contract -
990.50
intra-day channel and 989.50 base (major
area) / 984.90 minor day
channel also 982.50, 981.60 and 981.20
base (very
major area) / 977.70 day
bottom (major) / 970.50
day bottom (major) /
963.50 day bottom and 963.30 weekly
closing gap (very
major area) / 957.90
monthly channel (very
major area) / 954 minor
day channel and 953 day bottom to 947.20
day gap (major area).
Comments:
The follow through rally on Thursday
brought prices up to the very major
resistance on the monthly chart leaving
the chart in bullish territory but defensive.
A trade above the 991.20 monthly channel
can bring prices up to challenge the
995.80 and 996.50 monthly tops and
possibly near the1003 top and 1005.50
upper channel. A trade below
984.90 today is slightly bearish but
only a trade below 957.90 can bring any
solid bearishness back to the chart.
Remain defensive inside the 996.50 -
984.90 trading range.
Day
trades: For the June
contract -
Aggressive
traders can sell rallies near
999 - 1003 area for obj. near 993 - 991
area. (Use a protective buy stop
at 1004. Do not rev. long).
Aggressive
traders can buy dips near 986 -
984.90 area for obj. near 990 - 992
area. (Use a sell stop and rev.
short at 980.30).
Sell
stop at 980.30 for obj. near 977 - 975
area and possibly near 973.
Sell
stop at 969 for obj. near 963.30 gap and
possibly near 957.90 monthly channel.
Bulletin - Originally sent 06/06/03 (9:42 am est)
Short
positions were taken at 1001. The
protective buy stop for short positions
must be changed from 1004 to 1006.50.
The obj. for short positions still remains
at 993 - 991 area.
Results: 06/06/03
The week in review - 06/09/03 -
06/13/03
The Tech Guru's S & P Day
Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 06-09-03: 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 -
993 intra-day channel and peak (major
area) / 998.20 and 1000 intra-day peaks (major)
/ 1004.80 and 1005.80 newly developed major weekly channels (very
major area) / 1008..50 weekly top and 1009.10 weekly
chart's closing price also 1011 day top (major area)
/ 1015 weekly top and 1017.50 day top (very major area)
/ 1019 weekly closing price (major) / 1032 day
top (major area) / 1043.90 minor monthly channel and
1044 weekly top (very major area)
/ 1047 day top (major).
Support: For
the June contract -
984.50 intra-day channel and day channel
also 982.50 and 981.50 base (major area) / 977.70 day
bottom (major) / 970.50 day bottom (major)
/ 963.50 weekly bottom and 963.30 monthly closing gap (very
major area) / 958.60 minor weekly channel and 957.90
monthly channel (very major area)
/ 953 day bottom (major) / 949.20 day gap and 948
major weekly channel also 947.50 monthly channel (very
major area) / 945.50 day bottom and minor day channel (major)
/ 941 minor weekly channel (very major
area).
Comments:
The sell-off on Friday
brought prices down to close below Thursday's settling price, which is
slightly bearish. The weekly closing price was higher than the
last two weeks, which is bullish. The mixed technicals leaves
the chart neutral inside the 1004.80 and 958.60 weekly trading range
and 993 - 981.50 daily trading range. Remain neutral and
defensive. The market can sell-off as easily as it can rally.
Whiplashing to both sides are expected until a direction can be
established.
Day
trades: For the June contract -
Aggressive traders can buy
dips near 984.50 - 981.50 and if possible near 980 for obj. near 989 -
993 area. (Use a sell stop and rev. short at 974.70).
Aggressive traders can sell
rallies near 992 - 993 area for obj. near 987 - 985 area. (Use a
protective buy stop at 994.70. Do not rev. long).
Aggressive traders can sell
rallies near 1003 - 1005 area, if it gets there, for obj. near 998 -
995 area. (Use a buy stop and rev. long at 1011.70).
Buy stop at 1011.70 for
obj. near 1015 - 1017 area.
Sell stop at 974.70 for
obj. near 971 - 970 area.
Sell stop at 967.50 for
obj. near 963.30 gap and possibly near 958.60 channel.
Bulletin - Originally sent 06/09/03 (12:54 pm est)
The markets neutral condition is keeping
prices in a very defensive area. The market can still swing
to either side. At this time, the intra-day chart formation
appears as a technical double bottom for possible rallies near the 989
obj. from the long positions taken this morning.
It is recommended for traders to cancel the
974.70 sell stop and replace it with a 973.90 sell-stop and rev. short.
Traders can also lower the obj. near 987 because of the neutral
conditions.
Results: 06/09/03
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday
06-10-03: NOTE: After
each support and resistance listed will designate a value - (very
major) holds the highest importance, then (major), (very
significant), and (significant) is of the least value. Very
aggressive trades - are trades that are against
the trend or a high dollar risk when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell stop inside a buy
area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter or
complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where stops ARE
NOT mentioned, they should be placed below the second
support area listed or above the second resistance
area listed, or 22 points from the (trade entry point),
whichever is the lesser amount. NOTE: The
first support area becomes the resistance after the
market trades through the second support area
listed. The first resistance area becomes the support
after the market trades through the second resistance area
listed.
Resistance: For
the June contract -
979, 981 and 982.50 intra-day peaks (major
area) / 985.20 day top to 987.80 weekly closing gap (major
area) / 991.80 GBX top (major) / 998.20
and 1001 peaks (major area) / 1004.80 and
1005.80 major weekly channels (very
major area) / 1007.30 major day channel and
1008.50 weekly top also 1009.10 weekly chart's closing price (major
area) / 1011 day top (major) / 1015
weekly top and 1017.50 day top (very
major area) / 1019 weekly closing price (major)
/ 1032 day top (major) / 1043.90 minor monthly
channel and 1044 weekly top (very
major area).
Support: For
the June contract -
973.50 base and 973 intra-day channel
also 972.50 day bottom and 970.50 day bottom (very
major area) / 963.50 weekly bottom and 963.30
monthly closing gap also 960.80 minor day channel (very
major area) / 958.60 minor weekly channel and
957.90 monthly channel (very major
area) / 953 day bottom (major) /
949.20 day gap and 948.50 minor day channel also 948.40 GBX bottom
and 947.50 monthly channel (very
major area) / 945.40 day bottom (major)
/ 941 minor weekly channel also 940.50 and 937.50 minor day
channels (very major area).
Comments:
The follow through
sell-off on Monday brought prices down below the last three days
closing prices, which is slightly bearish but only a trade below
960.80 - 957.90 area can bring any solid bearishness back to the
chart. A trade above 998.20 - 1001 is slightly bullish but
only a trade above the 1004.80 - 1005.80 area can bring any
solid bullishness back to the chart. Remain defensive
inside the 1004.80 - 957.80 weekly range and also the 987.80 -
973.50 daily neutral range.
Day
trades: For the June contract -
Aggressive traders can sell
rallies near 979 - 982.50 area for obj. near 976 and possibly near
973.50. (Use a protective buy stop at 985.50. Do not
rev. long).
Aggressive traders can buy
dips near 963.30 - 957.90 area for obj. near 968 - 970 area.
(Use a sell stop and rev. short at 954.90).
Aggressive traders can sell
rallies near 998.20 - 1001 and if possible near 1004.80 area for
obj. near 993 - 991 area. (Use a buy stop and rev. long at
1011.50).
Sell stop at 969 for obj. near 965 - 963.30
area.
Sell stop at 954.90 for obj. near 949.20 gap -
947.50 area.
Buy stop at 1011.50 for obj. near 1014 - 1017
area.
Bulletin - Originally sent 06/10/03 (10:03 am est)
Short positions were taken at the sell
981 area. The sell-off down to 978.50 is considered a double
bottom on the intra-day scale and can possibly hold as support.
It is recommended for traders to exit
the short position near 980, which will complete the trade.
Results: 06/10/03
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday
06-11-03: NOTE: After
each support and resistance listed will designate a value -
(very major) holds the highest importance, then (major), (very
significant), and (significant) is of the least value. Very
aggressive trades - are trades that are
against the trend or a high dollar risk when wide stops are
used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell stop
inside a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter or
complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where stops
ARE NOT mentioned, they should be placed below the
second support area listed or above the second
resistance area listed, or 22 points from the (trade
entry point), whichever is the lesser amount. NOTE: The
first support area becomes the resistance after
the market trades through the second support area
listed. The first resistance area becomes the support
after the market trades through the second
resistance area listed.
Resistance: For
the June contract -
987.80 weekly closing gap to
991.80 GBX top (major area) / 998.20, 999.70
and 1001 peaks (major area) / 1004.80 and
1005.80 major weekly channels and 1005.50 peak (very
major area) / 1007 major day channel and
1008.50 weekly top also 1009.10 weekly closing price (major
area) / 1011 day top (major) / 1015
weekly top and 1017.50 day top (very
major area) / 1019 weekly closing price (major)
/ 1032 day top (major) / 1043.90 minor
monthly channel and 1044 weekly top (very
major area).
Support: For the June
contract -
980.50 minor day channel (major
area) / 977.20 base and 976.50 day bottom (major
area) / 972.50 and 970.50 day bottoms (major
area) / 964.10 minor day channel and 963.50 weekly
bottom also 963.30 weekly and monthly closing gap (very
major area) / 958.60 minor weekly channels and
957.90 monthly channel (very
major area) / 953 day bottom and 951 major day
channel (major area) / 949.20 day gap and
948.40 GBX bottom also 948 major weekly channel and 947.50
monthly channel (very major
area) / 945.70 day bottom (major)
/ 942.50 minor day channel and 941 minor weekly channel also
940 minor day channel (very
major area).
Comments:
The rally on
Tuesday from the support area removes the slightly bearish
condition from Tuesday, leaving the chart in totally neutral
condition and subject for prices to whiplash to both sides
until a direction can be established. A trade above
998.20 - 1001 area is slightly bullish but only a trade above
1004.80 - 1005.80 can bring any solid bullishness back to the
chart. A trade below 980.50 is slightly bearish but only
a trade below 963.50 - 957.90 area can bring any solid
bearishness back to the chart. Remain defensive inside
the 998.20 - 980.50 neutral trading area.
Day
trades: For the June contract -
Aggressive traders can buy
dips near 982 - 980.50 area for obj. near 987.80 gap and
possibly near 991. (Use a sell stop and rev. short at
976).
Aggressive traders can
sell rallies near 998 - 1000 area and if possible
near 1004 for obj. near 993 - 989 area. (Use a buy stop
and rev. long at 1011.70).
Sell stop at 976
for obj. near 972 - 970 area.
Sell stop at 968
for obj. near 964.50 - 963 gap area and possibly near 957.90.
Buy stop at
1011.70 for obj. near 1014 - 1017 area.
Bulletin - Originally sent 06/11/03 (9:59 am est)
The sell-off down to 982 put traders
into long positions. The rally up to the intra-day double
top at 986 is near enough to the obj. for traders to exit and
take profits.
Results: 06/11/03
A TECHNICAL GUIDE FOR DAY TRADING THE S &
P
S & P - For Thursday
06-12-03: 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 -
998.20, 999.70 and 1001 peaks (major
area) / 1004.80 and 1005.80 major weekly channels
also 1006 major day channel (very
major area) / 1008.50 weekly top and
1009.10 weekly closing price (major area)
/ 1011 day top (major) / 1015 weekly top
and 1017.50 day top (very
major area) / 1019 weekly closing price (major)
/ 1032 day top (major) / 1043.90 minor
monthly channel and 1044 weekly top (very
major area) /
1059.10 monthly channel (very
major area).
Support: For the June
contract -
997 intra-day channel and
995.10 base (major) / 990.70 intra-day
channel and 989.50 base (major area) /
987.10 minor day channel and 987 base also 986.40 day
channel (very major area)
/ 985.20 base and 984.50 minor day channel (major
area) / 981.80 day bottom and 979.20 minor day
channel (very major)
/ 977.10 day session closing price and 976.50 day bottom (major
area) / 972.50 and 970.50 day bottoms (major
area) / 967.50 minor day channel (major
area) / 963.50 weekly bottom and 963.30 weekly
and monthly closing price (major area) /
958.60 minor weekly channel and 957.90 monthly channel (very
major area) / 953 day bottom (major)
/ 949.20 day gap and 948 major weekly channel also 947.50
monthly channel (very major
area).
Comments:
The follow
through rally on Wednesday from the support area remained
inside the neutral trading area but closing at the highest
level in eleven months leaving the chart neutral to
slightly bullish. A trade above the 1004.80 and
1005.80 major weekly channel will bring solid bullishness
back to the charts for possible higher prices. A
trade today below 986.40 is slightly bearish but only a
trade below 957.90 can bring any solid bearishness back to
the chart. Remain defensive inside the 1004.80 -
986.40 neutral trading range.
Day
trades: For the June contract -
Aggressive traders can
sell rallies near 1002 - 1005 area for obj. near
998 - 997 area. (Use a buy stop and rev. long at
1009.70).
Aggressive traders can
buy dips near 988 - 986.40 area for obj. near 993
- 995 area. (Use a sell stop and rev. short at 985).
Buy stop at
1009.70 for obj. near 1013 - 1015 area and possibly near
1017.50.
Buy stop at
1022 for obj. near 1029 - 1032 area.
Sell stop at
985 for obj. near 982 - 980.50.
Sell stop at
975 for obj. near 972 - 968 area.
Results: 06/12/03
A TECHNICAL GUIDE FOR DAY TRADING THE S
& P
S
& P - For Friday 06-13-03: 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 Sept. contract -
999.80 peak and 1000.80 day
channel (major) / 1002 day top also
1003.60 and 1004.60 proportional major weekly channel (very
major area) / 1007 weekly top and
1009.10 weekly chart's closing price (major
area) / 1015 weekly chart's top and 1016.50 day
top (very major area)
/ 1020 Sept. weekly top and 1023 Sept. day top (major
area) /1035 day session closing price and 1038
day top (major area) / 1043.90 minor
monthly channel, which in proportion is 1042.70 for Sept
(very major area).
Support: For
the Sept. contract -
998 minor day channel (major
area) / 991.60 minor day channel and 990.60 day
channel also 990.30 base and 989.50 day bottom (very
major area) / 987.10 and 984.90 minor
day channels (major area) / 981 day
bottom and 980.80 minor day channel (very
major area) / 975.70 day bottom (major)
/ 971.80 weekly bottom and 970 day bottom (major
area) / 962.80 day bottom to the 962.20 weekly
closing gap (very major
area) / 957.90 major monthly channel and
956.20 major day channel (very
major area).
Comments:
The
follow through rally on Thursday is proving the
support significant at this time but the market still
failed to penetrate the major weekly channel resistance,
which can also prove to be significant to hold back
rallies for now. A trade above the 1003.60 -
1004.60 weekly resistance area will be considered
bullish for prices to trade up near the 1015 - 1020 area
and possibly challenge the 1043.90 monthly channel.
A trade today below 991.60 - 989.50 is slightly bearish
but only a trade below the 957.90 - 956.20 area can
bring any solid bearishness back to the chart.
Remain defensive inside the 1004.60 to 989.50 trading
area. NOTE: A close below
the 995 area will be slightly bearish for next week's
session.
Day
trades: For the Sept. contract -
Aggressive traders
can sell rallies near 1000 - 1002 area and if
possible near 1003.60 for obj. near 998 to complete this
trade. (Use a protective buy stop at 1005.
Do not rev. long).
Sell stop
at 996 for obj. near 992 - 990.60 area and possibly near
989.50.
Sell stop
at 984 for obj. near 981 - 980 area.
Sell stop
at 978.70 for obj. near 976 - 975.70 bottom and possibly
near 971.80 bottom.
Sell stop
at 968 for obj. near 962.80 bottom and possibly near
962.20 gap.
Buy stop at
1010 for obj. near 1014 - 1016.50 area and possibly near
1019.
Buy stop at
1026 for obj. near 1030 - 1035 area.
Bulletin - Originally sent 06/13/03 (10:02 am est)
The sell stop at 997 was hit
putting traders into short positions. The sell off down
to 993 is near enough to the 992 obj. which completes the
trade.
Bulletin - Originally sent 06/13/03 (2:58 pm est)
The sell stop was hit at 984
putting traders into short positions. The market is now
showing support at this level to possibly prevent the 981 obj.
to be met.
It is recommended for traders to
exit the short position at the market, which is trading at
984.70 at this time, and scratch the trade.
Results: 06/13/03
The week in review - 06/16/03 - 06/20/03
The Tech Guru's S & P Day
Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 06-16-03: 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 Sept.
contract -
989 peak (significant) / 991.70 peak (major)
/ 995.50 peak and rev. channel (major area) /
999.50 minor day channel and 1000.20 day top (very
major area) / 1001.10 major weekly channel and GBX top
also 1002 day top and 1002.60 weekly channel also 1003.10 major day
channel and 1003.15 weekly channel (very
major area) / 1007 day top and 1008.50 weekly top also
1009.10 weekly closing price (major area) / 1015
weekly chart's top and 1016.50 day top (very
major area) / 1020 weekly top and 1023 day top (major
area) / 1028.30 weekly closing price (major)
/ 1038 day top and 1043.90 monthly channel also 1044 weekly chart's
top (very major area).
Support: For the Sept.
contract -
987.10 and 986.90 minor day channels with
GBX prices also 985.40 minor day channel (major area)
/ 983 minor day channel and 982.70 day bottom also 981.80 minor day
channel and 981.50 weekly channel also 981 day bottom (very
major area) / 975.70 day bottom and 974.90 minor day
channel with GBX prices also 974.40 minor weekly channel (very
major area) / 971.80 weekly bottom and 969.50 GBX
weekly bottom (major area) / 962.80 weekly bottom and
962.20 monthly and weekly closing gap also 960.30 major weekly channel
and 958.80 major day channel also 957.90 monthly channel (very
major area) / 952.20 day bottom and 950.90 weekly
channel (very major area)
/ 948 day gap and 947.50 monthly channel also 946.70 major day channel
and 945 day bottom (very major area).
Comments:
The sell-off on Friday from the
major resistance can prove to be a signal for the beginning of a top
formation and significant enough to bring prices down to
challenge the 960.30 weekly channel and 957.90 monthly channel area.
A trade below 957.90 will be very bearish and a trade below 947.50
monthly channel and 945 area will be a confirmation of the trend reversal
to the downside. A trade above 999.50 is slightly bullish but
only a trade above the 1007 and 1008.50 top areas can bring any solid
bullishness back to the chart. Remain defensive inside the
999.50 - 981 neutral trading area.
Day
trades: For the Sept. contract -
Aggressive traders can sell
rallies near 991.50 -
995 area and if possible near 999 for obj. near 987 - 985.40 area.
(Conservative traders can use a protective buy stop at 1005.
Do not rev. long). (Aggressive traders can use a buy stop and
rev. long at 1011.50).
Aggressive traders can buy
dips near 983 - 981 area for obj. near 987 - 989 area and possibly
near 991. (Use a sell stop and rev. short at 980).
Buy
stop at 1011.50 for
obj. near 1014 - 1016 area and possibly near 1120 top.
Buy
stop at 1021 for obj.
near 1024 - 1026 area.
Buy
stop at 1029.50 for
obj. near 1032 - 1035 area.
Sell
stop at 980 for obj.
near 976 - 975 area and possibly near 974.40 area.
Sell
stop at 973 for obj.
near 970.50 - 969.50 area.
Sell
stop at 966.50 for
obj. near 962.80 - 962.20 gap and possibly near 960.30 area.
Results: 06/16/03
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday
06-17-03: NOTE: After
each support and resistance listed will designate a value -
(very major) holds the highest importance, then (major), (very
significant), and (significant) is of the least value. Very
aggressive trades - are trades that are against
the trend or a high dollar risk when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell stop inside
a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter or
complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where stops
ARE NOT mentioned, they should be placed below the
second support area listed or above the second
resistance area listed, or 22 points from the (trade entry
point), whichever is the lesser amount. NOTE: The
first support area becomes the resistance after the
market trades through the second support area
listed. The first resistance area becomes the support
after the market trades through the second
resistance area listed.
Resistance: For
the Sept. contract -
1015 weekly chart's top and 1016.50
day top (very major area)
/ 1020 weekly top and 1023 day top (major area)
/ 1025.60 Sept. contract's weekly closing price and 1028.30
weekly chart's closing price also 1029 weekly chart's upper
channel line (very major area)
/ 1035.50 day session closing price and 1038 day top (major
area) / 1043.90 monthly channel also 1044 weekly
chart's top (very major area)
/ 1047.40 weekly closing price and 1053.50 day top (major
area) / 1059.10 monthly channel and 1061.40 weekly top (very
major area).
Support: For the Sept.
contract -
1005.30 intra-day channel and rev.
peak also 1003.80 base (major area) / 1001.70
base and 999.30 minor day channel (major area)
/ 991 day channel and day bottom (very
major area) / 988.50 weekly closing gap and
987.70 minor day channel (major area) / 985.40
GBX bottom also 985 and 984 minor day channels (major
area) / 982.70 and 981 day bottoms also 981.50 weekly
channel (very major area)
/ 976 minor day channel and 975.70 day bottom (major
area) / 971.80 weekly bottom and 969.50 GBX weekly
bottom (major area) / 962.80 weekly bottom and
962.20 monthly and weekly closing gap (major area)
/ 960.30 major weekly channel and 960.70 major day channel also
957.90 monthly channel (very major
area).
Comments:
The rally on
Monday brought prices into bullish territory but now faces the
1015 and 1020 top area. A trade above 1020 can bring
prices up to challenge the 1029 upper channel resistance and
possibly near 1043.90 monthly channel. A trade below
999.30 is slightly bearish but only a trade below 991 and 981.50
areas can bring any solid bearishness back to the chart.
Remain defensive inside the 1015 - 999.30 neutral trading range.
Day
trades: For the Sept. contract -
Aggressive traders can sell
rallies near 1014
- 1016 area for obj. near 1007 - 1005.30 area and possibly
near 999.30. (Use a buy stop and rev. long at 1021.70).
Aggressive traders can buy
dips near 1000.50
- 999.30 for obj. near 1004 - 1006 area. (Use a sell
stop and rev. short at 997).
Buy
stop at 1021 for obj. near 1025 - 1026
area and possibly near 1029.
Sell
stop at 997 for obj. near 994 - 991
area.
Bulletin - (Originally sent 6/17/03 9:49 am est)
Short positions were taken at
1013, which was near enough to the 1014 obj. sell area.
The sell-off down to 1008 is near enough to the 1007
obj.,which completes the trade.
Results: 06/17/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S & P - For Wednesday
06-18-03: NOTE: After
each support and resistance listed will designate a value
- (very major) holds the highest importance, then (major),
(very significant), and (significant) is of the least
value. Very aggressive
trades - are trades that are against the
trend or a high dollar risk when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell stop
inside a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to
enter or complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where
stops ARE NOT mentioned, they should be placed below
the second support area listed or above the
second resistance area listed, or 22 points from the (trade
entry point), whichever is the lesser amount. NOTE: The
first support area becomes the resistance
after the market trades through the second
support area listed. The first resistance
area becomes the support after the market trades
through the second resistance area
listed.
Resistance: For
the Sept. contract -
1011.30, 1012.50 and 1012.80
peaks (major area) / 1014.80 day top and
1016.30 day top from June 28th (very
major area) / 1020 weekly top and 1023 day
top (major area) / 1025.60 Sept.
contract's weekly closing price and 1028.30 weekly chart's
closing price also 1029 weekly chart's upper channel line (very
major area) / 1035.50 day session closing
price and 1038 day top (major area) /
1043.90 monthly channel also 1044 weekly chart's top (very
major area) / 1047.40 weekly closing price
and 1053.50 day top (major area) /
1059.10 monthly channel and 1061.40 weekly top (very
major area).
Support: For
the Sept. contract -
1007.60 minor day channel (major)
/ 1005.30 day bottom also 1003.80 base (major
area) / 1001.70 and 1000.60 base (major
area) / 995.80 and 993.90 day channels (very
major area) / 991 day bottom and 990 minor
day channel also 988.50 weekly closing gap also 987.50
minor channel (major area) / 985.40 GBX
bottom (significant) / 982.70 day bottom and 981.50 weekly
channel also 981 day bottom (very
major area) / 977.50 minor day channel (major)
/ 975.70 day bottom and 974.40 minor weekly channel (very
major area) / 971.80 weekly bottom and
969.50 GBX weekly bottom (major area) /
963.80 major day channel and 962.80 weekly bottom also
962.20 monthly and weekly closing gap (very
major area) / 960.30 major weekly
channel and 957.90 monthly channel (very
major area).
Comments:
Tuesday's trading range remains inside
the neutral range but the 1016.30 resistance can prove to
be significant enough to stimulate some retracements down.
A trade above 1016.30 and 1020 can bring prices up to
challenge the 1029 upper channel and possibly near 1043.90
monthly channel. A trade today below 995.80 and
993.90 is slightly bearish but only a trade below 987.50
and 981.50 can bring any solid bearishness to the chart.
Remain defensive inside the 1012.50 - 1003.80 neutral
range.
Day trades:
For the Sept. contract -
Aggressive traders can sell
rallies
near 1011 - 1012.50 for obj. near 1006 - 1004 area.
(Use a protective buy stop at 1015. Do not rev.
long).
Aggressive traders can buy
dips near
996 - 993.90 area for obj. near 1000 - 1003 area.
(Use a sell stop and rev. short at 992.70).
Sell
stop at 1005 for obj. near 1003 -
1001 area.
Sell
stop at 1000 for obj. near 996 -
993.90 area.
Sell
stop at 992.70 for obj. near 990 -
988.50 gap.
Sell
stop at 985 for obj. near 982 -
981.50 area.
Buy
stop at 1021 for obj. near 1024 -
1028 area.
Bulletin - (Originally sent 6/18/03 9:46 am est)
The sell stop at 1005 was hit putting
traders into short positions. The sell off down to 1003.20 is near
enough to the 1003 obj. to complete the trade.
The market continues to look bearish for
possible lower prices.
Bulletin - (Originally sent 6/18/03 12:56 pm est)
The rally up to the 1011 - 1012.50 area put
traders into short positions. The sell-off down to 1008.30 seems to
be showing some support. Traders can take profits at the
1009.50 area, which completes the trade.
Results: 06/18/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S & P
- For Thursday 06-19-03: 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 Sept. contract -
1009 intra-day channel and 1009.30 peak (major
area) / 1011 and 1011.70 peaks (major
area) / 1013.20 and 1013.40 peaks also
1013.70 intra-day channel and 1014.50 day top (very
major area) / 1014.80 day top and
1016.30 day top from June 28th also 1017 upper
channel (very
major area) / 1020 weekly top and
1023 day top (major area) /
1025.60 Sept. contract's weekly closing price and
1028.30 weekly chart's closing price also 1029
weekly chart's upper channel line (very
major area) / 1035.50 day session
closing price and 1038 day top (major
area) / 1043.90 monthly channel also 1044
weekly chart's top (very
major area) / 1047.40 weekly
closing price and 1053.50 day top (major
area) / 1059.10 monthly channel and
1061.40 weekly top (very
major area).
Support: For
the Sept. contract -
1006.50 intra-day gap and 1006.20 base (major
area) / 1004.50 base and 1003 day bottom (major
area) / 1001.70 base also 1000.60 day
channel and base (very
major area) / 997.50 day channel
with GBX prices (major area) /
992.50 minor day channel and 991 day bottom (major
area) / 989.70 minor day channel and 988.50
weekly closing gap (very
major area) / 985.40 GBX bottom
(significant) / 982.70 day bottom and 981.50 weekly
channel also 981 day bottom and 979 minor day
channel (very major
area) / 975.70 day bottom and 974.40
minor weekly channel (very
major area) / 971.80 weekly bottom
and 969.50 GBX weekly bottom (major area)
/ 966.40 major day channel (very
major area) / 962.80 weekly bottom
and 962.20 monthly closing gap (very
major area) / 960.30 major weekly
channel and 957.90 monthly channel (very
major area).
Comments:
Wednesday's trading range
remained inside the neutral area again leaving the
chart neutral inside the 1013.70 - 1000.60 area.
A trade above 1013.70 - 1016.30 area can challenge
the 1020 and 1029 resistance. A trade below
1000.60 can challenge the 993 - 988.50 support.
Remain defensive. The neutral conditions can
stimulate whiplashing to both sides before a solid
direction is seen.
Day
trades: For the Sept. contract
-
Aggressive traders can sell
rallies near 1009 - 1011 and if possible near
1013.70 for obj. near 1006 - 1004.50 area and
possibly near 1000.60. (Use a buy stop and
rev. long at 1021). (Conservative traders
can use a protective buy stop at 1018. Do
not rev. long).
Aggressive traders can buy dips
near 1002 - 1000.60 area for obj. near 1005 - 1007
area. (Use a sell stop and rev. short at
996).
Buy stop at 1021 for obj. near
1024 - 1026 area and possibly near 1028 - 1029
area.
Buy stop at 1032 for obj. near
1035 and possibly near 1038.
Sell stop at 996 for obj. near
993 and possibly near 991 - 988.50 gap area.
Sell stop at 986 for obj. near
983 - 981.50 area.
Bulletin - (Originally sent 6/19/03 9:53 am est) Short positions were taken between the 1009 and 1011 area. The sell off down to 1006.50 is near to 1006 for traders to consider taking profits, which completes this trade. Bulletin - (Originally sent 6/19/03 10:19 am est) The whiplashing action in this area is materializing as expected, which helped traders to repeat the first trade again. Traders can now consider selling rallies near the higher end of the sell area between 1011 and 1013.70. The obj. for that trade will be near 1006 and 1004 area and possibly as low as 1003. Bulletin - (Originally sent 6/19/03 2:26 pm est) The sell stop was hit at 996, putting traders into short positions. The intra-day double bottom pattern is proving support and possibly might not reach the obj. It is recommended for traders to exit the short position and scratch the trade. The market is trading at 999 at this time. Results: 06/19/03
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S
& P - For Friday 06-20-03: 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 Sept. contract -
996 intra-day channel also 997.40 and 997.70 peaks (major
area) / 999.80, 1000.30 and 1001.50 peaks (major
area) / 1005.30 intra-day channel and 1006.50
day channel also 1004.20 and 1007 peaks (very
major area) / 1009.90 peak and 1010.50 day top also
1010.90 day channel with GBX prices (very
major area) / 1014.50 and 1014.80 day tops also
1016.30 day top from June 28th (major area) / 1018
upper channel and 1020 weekly top (major area) / 1023
day top (significant) / 1025.60 Sept. contract's weekly closing price
and 1028.30 weekly chart's closing price also 1029 weekly chart's
upper channel line (very major area).
Support: For the Sept.
contract -
992 minor channel also 991.20 and 991 day bottom (major area)
/ 988.50 weekly closing gap and 985.40 GBX bottom (major area)
/ 982.70 day bottom and 981.50 weekly channel also 981 day bottom and
980 minor day channel (very major area)
/ 975.70 day bottom and 974.40 minor weekly channel (very
major area) / 971.80 weekly bottom and 969.50 GBX
weekly bottom also 969 day channel (major area) /
962.80 weekly bottom and 962.20 monthly closing gap
(very major area) / 960.30 major weekly
channel and 957.90 monthly channel (very
major area).
Comments:
The sell-off on Thursday brought the chart into
slightly bearish territory. A trade below 992 and 988.50 gap can
bring prices down to challenge the 981.50 week's channel support.
A trade below 981.50 is bearish and can challenge the 974.40 and
960.30 weekly channels and possibly near the 957.90 monthly channel.
A trade today above 1005.30 - 1006.50 is slightly bullish but only a
trade above 1010.90 and 1014.80 can bring any solid bullishness back
to the chart. The possibility of a top formation can now be
developing. Remain defensive today inside the 1006.50 - 992
neutral trading area.
Day
trades: For the Sept. contract -
Aggressive traders can sell rallies near 997 - 999
area for obj. near 994 - 992 area. (Use a protective buy stop
at 1001.70. Do not rev. long).
Aggressive traders can sell rallies near 1005.30 -
1006.50 area for obj. near 1002 - 999 area. (Use a buy stop
and rev. long at 1015.70). (Conservative traders can use a
protective buy stop at 1011.30. Do not rev. long).
Sell stop at 990.70 for obj. near 988.50 gap.
Sell stop at 987 for obj. near 985 - 983 area and
possibly near 981.50.
Sell stop at 979.30 for obj. near 975.50 - 974.40
area and possibly near 972.
Buy stop at 915.70 for obj. near 918 and possibly
near 920.
Buy stop at 921.70 for obj. near 924 - 926 area and
possibly near 928 - 929 area.
Bulletin - (Originally sent 6/20/03 9:41 am est) Short positions were taken on the opening at 1000. Results: 06/20/03
The week in review - 06/23/03 -
06/27/03
The Tech Guru's S & P Day
Trading Recommendations
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P - For Monday
06-23-03 : 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 Sept. contract -
991.50 minor day channel and
992.70 peak (major area) / 993.80 peak and 994.50
intra-day channel also 995.20 and 996.30 peaks (major area)
/ 1002.50 minor day channel (major area) / 1009.10
minor day channel with GBX prices and 1010.50 day top (very
major area) / 1012.20 newly developed weekly channel and
1012.70 GBX top also 1013 and 1013.30 newly developed weekly channels (very
major area) / 1014.50 and 1014.80 weekly tops also
1015.80 weekly chart's top and 1016.30 day top from June 28th (major
area) / 1019.50 minor weekly upper channel and 1020 Sept.
contract's weekly top (major area) / 1023 day top
(significant) / 1025.60 Sept. contract's weekly closing price and
1028.30 weekly chart's closing price (very
major area) / 1039.70 weekly upper channel and 1043.90
monthly channel also 1044 weekly chart's top (very
major area).
Support: For the
Sept. contract -
991 weekly bottom also 990.50 and 990.20
minor weekly channels (very major area)
/ 989.70 and 988.50 weekly closing gap also 987.80 minor day channel (very
major area) / 985.40 weekly GBX bottom (significant) /
982.70 and 981 day bottoms also 981 minor day channel (major
area) / 975.70 day bottom and 972.60 major weekly channel also
972.50 weekly bottom (very major area)
/ 970 day bottom and 969.50 GBX weekly bottom (major area)
/ 963.50 weekly bottom and 963.30 monthly gap also 962.20 day gap (major
area) / 961 and 960.80 weekly channels also 957.90 monthly
channel and 956 major day channel (very
major area).
Comments:
The sell-off on Friday
closed down for the third day in a row but managed to close slightly
higher from last Friday's close leaving the chart in neutral to slightly
bearish condition. A trade below 990.50 - 987.80 area is bearish
and can bring prices down to challenge the 972.60 major weekly channel
and possibly lower. A trade above 1002.50 is slightly bullish but
only a trade above 1009.10 - 1013 can bring any solid bullishness back
to the chart. Remain defensive inside the 993 - 988.80 neutral
area.
Day trades: For
The Sept. contract -
Aggressive traders can sell
rallies near 992 - 993 area for obj. near 990.50 and possibly near
988.50 gap. (Use a buy stop and rev. long at 997).
Aggressive traders can sell
rallies near 1000 - 1002.50 for obj. near 996 - 994 area. (Use a
buy stop and rev. long at 1004.70).
Buy stop at 1004.70 for
obj. near 1007.70 - 1009 area.
Buy stop at 1016.70 for
obj. near 1019 - 1020.
Sell stop at 987 for obj.
near 984 - 982 area.
Sell stop at 980 for obj.
near 976 - 975 area and possibly near 972.50.
Sell stop at 969 for obj.
near 963.50 - 960.80 area.
Bulletin - (Originally sent 6/23/03 9:37 am est)
Sell stop at 987 for obj. near 984 - 982
area.
Bulletin - (Originally sent 6/23/03 12:05 pm est)
The sell stop was hit at 980 putting traders
into short positions. The sell-off down to 977.50 is showing signs
of support. It is now possible for the obj. at 976 - 975 area to
fail.
Traders should consider taking profits and
buy at the market to exit short positions. The market is trading
at 977.90 at this time.
Results: 06/23/03
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P -
For Tuesday
06-24-03 : NOTE: After
each support and resistance listed will designate a value - (very
major) holds the highest importance, then (major), (very
significant), and (significant) is of the least value. Very
aggressive trades - are trades that are against the
trend or a high dollar risk when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell stop inside a buy
area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter or
complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where stops ARE
NOT mentioned, they should be placed below the second
support area listed or above the second resistance
area listed, or 22 points from the (trade entry point),
whichever is the lesser amount. NOTE: The
first support area becomes the resistance after the
market trades through the second support area
listed. The first resistance area becomes the support
after the market trades through the second resistance area
listed.
Resistance: For
the Sept. contract -
982.40 minor day channel with GBX prices
and 982.70 peak (major area) / 983.50 day channel and
984 peak (very major area)
/ 989 peak (major) / 991.50 weekly closing price and
992.50 day top also 993.70 day session closing price (major
area) / 998.50 minor day channel and 1001 day top (very
major area) / 1007.30 minor day channel with GBX
prices (major area) / 1012.20 and 1013 weekly
channel's also 1013.30 weekly channel (very
major area) / 1014.50 and 1014.80 double top area also
1015.80 weekly chart's top and 1016.30 day top from June 28, 2002 (major
area) / 1019.50 minor weekly upper channel and 1020 weekly
top (major area) / 1023 day top (significant) /
1025.60 Sept. contract's weekly closing price and 1028.30 weekly
chart's closing price (very major area).
Support: For
the Sept. contract -
978.80 base and 978.20 newly developed day
channel also 976.70 minor day channel (major area)
/ 975.50 day bottom (major) / 974 major day channel
and 972.50 major weekly channel (very
major area) / 970 day bottom and 969.50 GBX weekly
bottom (major area) / 963.50 weekly bottom and 963.30
monthly gap also 962.20 day gap (major area) / 961
and 960.80 weekly channels (very major
area) / 958 day channel and 957.90 monthly channel
also 956.70 minor weekly channel (very
major area) / 952 day bottom to 948 day gap (major
area) / 944 minor weekly channel (very
major area).
Comments:
The sell-off on Monday
brought prices near the major support of 974 - 972.50 area that can
possibly be significant enough to stimulate some rallies. A
trade below 972.50 is bearish and can bring prices down to challenge
the 961 - 960.80 area and possibly near the 957.90 monthly channel
support. A trade today above 998.50 - 1001 area is slightly
bullish but only a trade above 1007.30 can bring any bullishness back
to the chart. Remain defensive inside the 983.50 - 978.20
neutral trading range.
Day trades:
For The Sept. contract -
Aggressive traders can buy
dips near 974 - 972.50 area for obj. near 981 - 983.50 area.
(Use a sell stop and rev. short at 968.70).
Aggressive traders can sell
rallies near 982 - 983.50 area for obj. near 980 - 979 area.
(Use a buy stop and rev. long at 985).
Buy stop at 985 for obj.
near 988 - 989 area and possibly near 991.
Buy stop at 994 for obj.
near 997.50 - 998.50 area.
Sell stop at 976.50 for
obj. near 974 - 972.50 area.
Sell stop at 968.70 for
obj. near 963.50 - 962.20 area and possibly near 961.
Bulletin - (Originally sent 6/24/03 12:51 pm est)
The buy stop at 985 was hit this morning
putting traders into long positions. The market sold-off down to
the support area and now is recovering to the first resistance at
982.50.
It is recommended for traders to exit long
positions between 982 - 983 area and cut losses. It is
possible the obj. of 988 will not come to play.
Results: 06/24/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S & P
- For Wednesday
06-25-03 : NOTE: After
each support and resistance listed will designate a value -
(very major) holds the highest importance, then (major), (very
significant), and (significant) is of the least value. Very
aggressive trades - are trades that are against
the trend or a high dollar risk when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell stop inside
a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter or
complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where stops
ARE NOT mentioned, they should be placed below the
second support area listed or above the second
resistance area listed, or 22 points from the (trade entry
point), whichever is the lesser amount. NOTE: The
first support area becomes the resistance after the
market trades through the second support area
listed. The first resistance area becomes the support
after the market trades through the second
resistance area listed.
Resistance:
For the Sept. contract -
982.80 and 983 peaks also 984.50 minor
day channel with GBX prices (major area) / 985
intra-day channel also 986.50 day top and 988.50 GBX top (major
area) / 991.50 weekly closing price and 992.50 day top (major
area) / 994.50 minor day channel also 995.20 and 996.30
peaks (very major area)
/ 1000.50 peak and 1001 day top also 1001.50 peak (very
major area) / 1006 minor day channel with GBX
prices and 1007 peak (major area) / 1010.50 day
top and 1012.20 weekly channel also 1012.70 GBX top and 1013 and
1013.30 weekly channels (very major
area) / 1014.50 and 1014.80 double top also
1015.80 weekly chart's top (major area) / 1019.50
minor weekly upper channel and 1020 weekly top also 1021.50 minor
daily upper channel (very major
area).
Support: For
the Sept. contract -
978.90 minor day channel and 978.50
base (major area) / 977.20 day bottom also 976.50
major day channel and 975.50 day bottom (very
major area) / 972.50 major weekly channel also
972.50 and 971.80 weekly bottoms also 969.50 GBX bottom (very
major area) / 963.50 weekly bottom and 963.30
monthly gap also 962.20 day gap also 961 and 960.80 weekly channel
(very major area) /
957.90 monthly channel and 956.70 minor weekly channel (very
major area) / 952 day bottom to 948 day gap (major
area) / 944 minor weekly channel (very
major area).
Comments:
The whiplashing action on Tuesday keeps the chart neutral inside a
narrow trading range between 984.50 and 978.90 area. A
breakout to either side can possibly point a direction.
Remain defensive until a breakout is seen to either side.
Day trades:
For The Sept. contract -
Aggressive traders can buy
dips near 979 - 977 area or sell rallies near 983 - 984.50 area,
whichever side comes first to complete the trade. (Use a
protective sell stop at 974.70. Do not rev. short).
(Use a protective buy stop at 986. Do not rev. long).
Aggressive traders can sell
rallies near 992 - 994.50 area for obj. near 988 - 986 area.
(Use a buy stop and rev. long at 997.50).
Aggressive traders can buy
dips near 972.50 and if possible near 971 for obj. near 976 - 978
area. (Use a sell stop and rev. short at 968.70).
Buy stop at 997.50
for obj. near 1000 - 1001.
Buy stop at 1003 for
obj. near 1005.50 - 1006.50 area.
Sell stop at 968.70
for obj. near 963.50 - 961 area.
Sell stop at 954.90
for obj. near 952 - 948 area.
Bulletin - (Originally sent 6/25/03 9:58 am est)
Short positions were taken at 983 -
984.50 area. The protective sell stop was hit at 986 for a
loss. The market is showing resistance at this area where
short positions can still be attempted.
It is recommended for traders to sell
near 985 for an obj. near 981 - 978.50 area. (Use a
protective buy stop at 987.70).
Results: 06/25/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Thursday
06-26-03 : NOTE: After
each support and resistance listed will designate a value -
(very major) holds the highest importance, then (major),
(very significant), and (significant) is of the least value.
Very aggressive trades -
are trades that are against the trend or a high dollar risk
when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell stop
inside a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter
or complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where
stops ARE NOT mentioned, they should be placed below
the second support area listed or above the
second resistance area listed, or 22 points from the (trade
entry point), whichever is the lesser amount. NOTE: The
first support area becomes the resistance after
the market trades through the second support area
listed. The first resistance area becomes the support
after the market trades through the second
resistance area listed.
Resistance:
For the Sept. contract -
975 and 977.70 peaks (major
area) / 980.80 intra-day channel and 981 peak (major
area) / 984.60 day channel with GBX prices and 985.10
day channel also 985.70 and 986.50 peaks and 986.80 intra-day
channel (very major area)
/ 989.10 minor day channel also 988.20 and 989.30 peaks also
990.20 day top and 990.50 minor day channel (very
major area) / 992.50 day top (major)
/ 995.20 and 996.30 peaks (major area) /
1000.50 peak and 1001 day top also 1001.50 peak (very
major area) / 1003.70 minor day channel with
GBX prices (major area) / 1007 and 1009.50
peaks also 1010.50 day top (major area) /
1012.70 GBX top also 1014.50 and 1014.50 day tops (very
major area) / 1015.80 weekly top and 1016.30
day top (major area) / 1019.50 minor weekly
upper channel and 1020 weekly top (very
major area).
Support: For
the Sept. contract -
970 day bottom from June 4th and
969.50 GBX bottom also 969.50 minor down channel (major
area) / 963.50 weekly bottom and 963.30 monthly and
weekly gap also 962.80 Sept. contract's weekly bottom (major
area) / 962.20 day gap and 961.90 major day channel
also 961 and 960.80 weekly channels (very
major area) / 957.90 monthly channel and
956.70 minor weekly channel (very
major area) / 952 day bottom (major)
/ 948 day gap and 947.50 monthly channel (very
major area) / 945 day bottom and 944 minor
weekly channel (very major area)
/ 937.70 minor weekly channel (major area) /
930.90 weekly closing price and 927 weekly chart's bottom also
926 Sept. contract's weekly bottom (very
major area).
Comments:
The sell-off on
Wednesday put the chart in neutral to bearish condition for
prices to challenge the 963.30 gap and possibly near the 961
and 957.90 channel supports. A trade below 957.90 is
bearish and can bring prices down near the 947.50 monthly
channel and possibly lower. A trade today above 984.60 -
986.80 area is slightly bullish but only a trade above 1001 -
1003.70 area can bring any solid bullishness back to the
chart. Remain defensive inside the 984.60 - 961 trading
range.
Day trades:
For The Sept. contract -
Aggressive traders can
sell rallies near 974 - 977 area and if possible near
980 for obj. near 963.50 - 961 area and possibly near 957.90.
(Use a buy stop and rev. long at 990.50).
(Conservative traders can use a protective buy stop at 981.
Do not rev. long).
Aggressive traders can
sell rallies near 987 - 989 area for obj. near 980 -
977 area. (Use a buy stop and rev. long at 990.60)
Sell stop at
968.70 for obj. near 963.50 - 961 area and possibly near
957.90.
Sell stop at
954.90 for obj. near 952 - 948 area and possibly near 947.50.
Buy stop at
990.60 for obj. near 995 - 996 area.
Buy stop at
1004.50 for obj. near 1007 - 1009.50 area.
Bulletin - (Originally sent 6/26/03 10:57 am est)
Short positions were taken at
974 and 977 area this morning. The sell-off down to 972.50
is considered an intra-day double bottom and can possibly hold as
support.
Traders should exit short positions near
974, which will scratch the first trade and be profitable for
the 977 short position. (Use a protective buy stop at 981 to
protect all short positions).
Aggressive traders can re-enter short
positions near 983.70 - 984.50 area and if possible near 989.
(Use a buy stop and rev. long at 990.60).
Bulletin - (Originally sent 6/26/03 2:02 pm est)
The intra-day double top at 982.80 -
982.90 put traders into short positions which was near enough to
the 983.70 sell area. The obj. is near 975 - 973 area.
Results: 06/26/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Friday
06-27-03 : NOTE: After
each support and resistance listed will designate a value -
(very major) holds the highest importance, then (major),
(very significant), and (significant) is of the least value.
Very aggressive trades -
are trades that are against the trend or a high dollar risk
when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell stop
inside a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter
or complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where
stops ARE NOT mentioned, they should be placed below
the second support area listed or above the
second resistance area listed, or 22 points from the (trade
entry point), whichever is the lesser amount. NOTE: The
first support area becomes the resistance after
the market trades through the second support area
listed. The first resistance area becomes the support
after the market trades through the second
resistance area listed.
Resistance:
For the Sept. contract -
983.90 intra-day channel and
984.50 intra-day gap (major area) / 985.40
intra-day channel and 985.80 day top (major area)
/ 986.50 minor day channel also 987.90 minor day channel (very
major area) / 990.20 day top and 991.50 weekly
closing price also 992.50 day top (major area)
/ 995.20 and 996.30 peaks (major area) /
1000.50 peak and 1001 day top also 1001.90 minor day channel
with GBX prices (very major
area) / 1008.20 and 1009.80 day session
closing prices and 1010.50 day top (major area)
/ 1012.70 GBX top also 1014.50 and 1014.80 weekly double top
also 1015.80 weekly chart's top (very
major area) / 1019.50 minor weekly upper
channel and 1020 weekly top (very
major area) / 1025.60 Sept. contract's weekly
closing price and 1028.30 weekly chart's closing price (very
major area).
Support: For
the Sept. contract -
982.20 intra-day channel and
981.80 intra-day gap also 981.20 and 981 double base (major
area) / 979.50 base and 978.50 double rev. peak (major
area) / 975.80 and 975.50 base also 974.40 and 973.40
newly developed day channels (very
major area) / 972.10 day bottom and 971.10 GBX
bottom also 969.50 GBX bottom (major area) /
963.70 major day channel and 963.50 weekly bottom also 963.30
monthly gap and 962.20 day gap (very
major area) / 961 and 960.80 weekly channels (very
major area) / 957.90 monthly channel and
956.70 minor weekly channel (very
major area) / 952 day bottom (major)
/ 948 day gap and 947.50 monthly channel (very
major area) / 945 day bottom and 944 minor
weekly channel (very major area).
Comments:
The rally on
Thursday removed the chart out of bearish territory leaving it
neutral inside the 987.90 and 973.40 neutral range. The
neutral condition can stimulate whiplashing to both sides of
the neutral area until a breakout can develop. A
breakout to either side of the 987.90 and 973.40 neutral
area can possibly point a direction. Remain defensive until
a breakout from the neutral area is seen.
Day trades:
For The Sept. contract -
Aggressive traders can
sell rallies near 984.50 - 987.90 area for obj. near
982 - 981.20 area. (Use a buy stop and rev. long
at 991).
Aggressive traders can buy dips
near 975.50 - 973.40 area for obj. near 979 - 981 area.
(Use a sell stop and rev. short at 968.70).
Buy stop at 991
for obj. near 994 - 996 area and possibly near 1000.
Buy stop at 1004
for obj. near 1008 - 1009.50 area.
Sell stop at
968.70 for obj. near 964 - 961 area and possibly near 957.90.
Sell stop at
954.70 for obj. near 950 - 948 area.
Bulletin - (Originally sent 6/27/03 9:45 am est)
Short positions were taken on the
opening at 984. If traders missed the opening, then sell
at the market. The new obj. for short positions is 976 -
973.40 area. Traders do not have to exit at 981 area.
Rallies up to 987.90 is still considered a selling area.
Bulletin - (Originally sent 6/27/03 9:59 am est)
Short positions were taken at 984
and at 983 bulletin area. The sell-off down to 978 is
showing some support, which is the reverse double peak.
It is recommended for traders to
take profits at the 980 - 979 area.
Bulletin - (Originally sent 6/27/03 12:19 pm est)
Short positions were taken at
987.90. The sell-off down to 982.40 is now an intra-day
channel support, where traders should consider taking profits.
Traders should exit at the market. The market is trading
at 983.50 at this time. This completes the trade.
Bulletin - (Originally sent 6/27/03 2:44 pm est)
The sell-off down to 974 area put
traders into long positions. The rally up to 977.50 is
proving to show resistance at this time for traders to
consider taking profits. Exit long positions near
976.50 - 977 area, which will complete the trade.
Results: 06/27/03
HYPOTHETICAL
PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE
DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS
LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE
ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS
AND THE ACTUAL RESULTS ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.
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