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 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 06/05/03 (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

Bought @ 979.50        Sold @ 983.50      = + $1,000.00
Sold @ 985                Bought @ 984       = + $   250.00     bought as per bulletin
Sold @ 989                Sold @ 982.50      =  + $1,625.00
TOTAL (P & L)                                           + $2,875.00
 
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.
 

* 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 06/06/03 (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

Sold @ 1001               Bought @ 1006.50       = - $1,375.00
Bought @ 986.50        Sold @ 987.80             = + $  325.00
TOTAL (P & L)                                                 -  $1,050.00
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.
 

* 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 06/09/03 (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

Bought @ 982         Sold @ 973.90        = -  $2,025.00
Sold @ 973.90.       Bought @ 977.10     = -  $  800.00
TOTAL (P & L)                                         -  $2,825.00
 
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.
 

* 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 06/10/03 (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

Sold @ 981       Bought @ 980.20    = + $   200.00
TOTAL (P & L)                                   + $   200.00
 
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.
 

* 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 06/11/03 (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

Bought @ 982        Sold @ 985.50          = + $   875.00
Sold @ 998            Bought @ 997.20      = + $   200.00
TOTAL (P & L)                                          + $1,075.00
 
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.
 

* 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:    06/12/03

Sold @ 1002            Bought @ 997.50      = + $1,125.00
TOTAL (P & L)                                            + $1,125.00
 
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.
 

* 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 06/13/03 (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

Sold @ 1000          Bought @ 998          = + $   500.00
Sold @ 997            Bought @ 993          = + $1,000.00
Sold @ 984            Bought @ 984.70      = -  $  175.00
TOTAL (P & L)                                          + $1,325.00
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.
 

* 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:    06/16/03

Sold @ 993               Bought @ 1005         = -  $3,000.00
Sold @ 999               Bought @ 1005         = -  $1,500.00
TOTAL (P & L)                                             -  $4,500.00
 
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.
 

* 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 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

Sold @ 1013             Bought @ 1008         = + $1,250.00
Sold @ 1013.50        Bought @ 1007         = + $1,625.00
TOTAL (P & L)                                             + $2,875.00
 
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.
 

* 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 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

Sold @ 1005            Bought @ 1003.50    = + $   375.00
Sold @ 1011.50        Bought @ 1009.50    = + $   500.00
Sold @ 1011            Bought @ 1006         = + $1,250.00
TOTAL (P & L)                                            + $2,125.00
 
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.
 

* 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 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

Sold @ 1009         Bought @ 1006.50     = + $   625.00
Sold @ 1009         Bought @ 1006.50     = + $   625.00
Sold @ 1009.80     Bought @ 1003         = + $1,700.00
Bought @ 1001      Sold @ 996              = -  $1,250.00
Sold @ 996            Bought @ 999          = -  $   750.00
TOTAL (P & L)                                         + $   950.00
 
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.
 

* 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 6/20/03 9:41 am est)  

Short positions were taken on the opening at 1000.

Results:    06/20/03

Sold @ 1000          Bought @ 994          = + $1,500.00
Sold @ 999            Bought @ 994          = + $1,250.00
TOTAL (P & L)                                         + $2,750.00
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.
 

* 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 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

Sold @ 992          Bought @ 989.50   = + $   625.00
Sold @ 987          Bought @ 983        = + $1,000.00
Sold @ 980          Bought @ 977.90    = + $   525.00     
TOTAL (P & L)                                      + $2,150.00
 
   thetechguru.com 
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.
 

* 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 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

Sold @ 983          Bought @ 985        = -  $   500.00
Bought @ 985      Sold @ 983            = -  $   500.00     Sold as per bulletin     
TOTAL (P & L)                                      -  $1,000.00
 
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.
 

* 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 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

Sold @ 983.50     Bought @ 986        = -  $   625.00
Sold @ 985          Bought @ 987.70   = -  $   675.00     sold as per bulletin
Bought @ 979      Sold @ 984.50       = + $1,375.00
Bought @ 972.80 Sold @ 975            = + $   550.00          
TOTAL (P & L)                                     + $   625.00
 
   thetechguru.com 
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.
 

* 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 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

Sold @ 974          Bought @ 975.80      = -  $   450.00
Sold @ 977          Bought @ 975.80      = + $   300.00     bought as per bulletin
Sold @ 982.90     Bought @ 983.50       = -  $   150.00     sold as per bulletin        
TOTAL (P & L)                                        -  $   300.00
 
   thetechguru.com 
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.
 

* 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 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

Sold @ 984               Bought @ 980          = + $1,000.00
Sold @ 983               Bought @ 980          = + $   750.00     sold as per bulletin and bought as per bulletin
Sold @ 987.90          Bought @ 983.50      = + $1,100.00
Bought @ 974.50      Sold @ 977              =  + $  625.00     sold as per bulletin        
TOTAL (P & L)                                             + $3,475.00

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

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

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

 

 

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