The Tech Guru Commodity Report 

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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.
 

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

Bulletin - (Originally sent 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

Sold @ 933          Bought @ 937        = -  $1,000.00
Bought @ 937      Sold @ 941            = + $1,000.00
Sold @ 944          Bought @ 947.80    = -  $   950.00     sold as per bulletin
Sold @ 952          Bought @ 949        = + $   750.00     sold as per bulletin
TOTAL (P & L)                                      -  $   200.00
 
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.
 

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

Bulletin - (Originally sent 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

Sold @ 954                Bought @ 951         = + $  750.00
Bought @ 949.70        Sold @ 954            = + $1,075.00
Bought @ 958.70        Sold @ 952.80        = -  $1,475.00
TOTAL (P & L)                                            +  $  350.00
 
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.
 

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

Bulletin - (Originally sent 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

Sold @ 955                Bought @ 952.40    = + $   650.00
Bought @ 961.70       Sold @ 962.20        = + $   125.00     sold as per bulletin
Sold @ 962.20           Bought @ 951         = + $2,800.00
TOTAL (P & L)                                            + $3,575.00
 
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.
 

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

Results:    05/30/03

Sold @ 954           Sold @ 963.70        = -  $2,425.00
Sold @ 965           Bought @ 961         = + $1,000.00
TOTAL (P & L)                                        -  $1,425.00
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.
 

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

Bulletin - Originally sent 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

Sold @ 970                Bought @ 977.50    = -  $1,875.00
Bought @ 977.50        Sold @ 976.50        = -  $  250.00
TOTAL (P & L)                                            -  $2,125.00
 
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.
 

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

Bulletin - Originally sent 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

Sold @ 970        Bought @ 967.50     = + $    625.00
TOTAL (P & L)                                     + $    625.00
 
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.
 

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

Bulletin - Originally sent 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

Bought @ 971.50       Sold @ 976.50     = + $1,250.00
Bought @ 982.50       Sold @ 981          = -  $   375.00
TOTAL (P & L)                                         + $   875.00
 
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.
 

* There is a substantial risk of loss in trading futures and options.  These recommendations cannot guarantee a profit.  Placing contingent