The Tech Guru Commodity Report 

   commodities traded worldwide

    

 

 

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.
To subscribe to the S & P day trade recommendations click here:
If you have any questions, please e-mail them to:  support@thetechguru.com
or call (540) 843-GURU (4878)
The week in review - 07/28/03 - 8/01/03
The Tech Guru's S & P Day Trading Recommendations
   thetechguru.com 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 07-28-03 :  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 Sept. contract -
996.80 and 997.40 minor day channels also 997.70 and 998 day tops (major area) / 1000.90 day session closing price (major) / 1004 day top (major) / 1007.20 GBX top and 1007.80 long-term major weekly channel (very major area) / 1009.40 major weekly channel and 1010 day top also 1010.10 weekly channel (very major area) / 1014.80 weekly double top and 1015.80 weekly chart's top (very major area) / 1020 day top (significant) / 1025.60 and 1028.30 weekly closing price (major area) / 1035 monthly channel (very major area) / 1038 day top and 1044 weekly chart's top (major area) / 1050.20 monthly channel and 1053 day top (very major area).
 
Support:  For the Sept. contract -
996 base and 995.50 intra-day channel (major area) / 994.50 and 994 base also 993.50 intra-day channel (major area) / 987.50 base and 986.50 rev. peak (major area) / 983.60 base and 983.40 weekly channel (very major area) / 980.70 and 980.30 base (significant) / 978 weekly channel and 977.50 long-term day channel (very major area) / 976.40 minor day channel and 976.70 weekly channel also 975.50 day bottom (very major area) / 974.20 day bottom and 973.60 weekly bottom also 973.30 monthly closing price (major area) / 964.20 weekly channel and 960.50 weekly bottom (very major area).
 
Comments:  
    The rally on Friday from the support area put the chart back into neutral condition.  A trade above 1007.80 and 1009.40 is bullish.  A trade above 1015.80 weekly chart's top will be considered a breakout for higher prices.  A trade below 978 - 977.50 area is bearish.  A trade below 964.20 - 960.50 area will reverse the major trend to the downside for lower prices.  Remain defensive inside the first neutral area between 998 - 983.40 area.
                       
Day trades:  For The Sept. contract -
 
Aggressive traders can sell rallies near 997 - 999 area for obj. near 993 - 992 area.  (Use a protective buy stop at 1001.70.  Do not rev. long).
 
Aggressive traders can sell rallies near 1006 - 1009 area for obj. near 1001 - 999 area.  (Use a protective buy stop at 1012.  Do not rev. long).
 
Aggressive traders can buy dips near 985 - 983.40 area for obj. near 990 - 992 area.  (Use a sell stop and rev. short at 975).  (Conservative traders can use a protective sell stop at 980.70.  Do not rev. short).
 
Buy stop at 1018.70 for obj. near 1021 - 1024 area.
Buy stop at 1029.80 for obj. near 1033 - 1035 area.
 
Sell stop at 991 for obj. near 987.50 - 985.50 area.
Sell stop at 975 for obj. near 967 - 964.20 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:    07/28/03

Sold @ 999 Bought @ 994 = + $1,250.00
Sold @ 998 Bought @ 993   = + $1,250.00
TOTAL (P & L)    + $2,500.00
 
   thetechguru.com 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 07-29-03 :  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 Sept. contract -
998 and 999.10 day channels also 999.50 day top and 999.70 GBX channel (major area) / 1000.50 GBX top and 1000.90 day session closing price (major area) / 1004 day top (major) / 1007.20 GBX top and 1007.80 long-term major weekly channel (very major area) / 1009.40 major weekly channel and 1010 day top also 1010.10 weekly channel (very major area) / 1014.80 weekly double top and 1015.80 weekly chart's top (very major area) / 1020 day top (significant) / 1025.60 and 1028.30 weekly closing price (major area) / 1035 monthly channel (very major area) / 1038 day top and 1044 weekly chart's top (major area) / 1050.20 monthly channel and 1053 day top (very major area).
 
Support:  For the Sept. contract -
991.50 day bottom (major) / 988.90 rev. peak also 987.50 base (major area) / 983.60 base and 983.40 weekly channel (very major area) / 980.70 and 980.30 base also 979 long-term day channel and 978 weekly channel (very major area) / 977.20 day channel and 976.70 weekly channel also 975.50 day bottom (very major area) / 974.20 day bottom and 973.60 weekly bottom also 973.30 monthly closing price (major area) / 964.20 weekly channel and 960.50 weekly bottom (very major area).
 
Comments:  
    Monday's trading range remained inside the neutral area leaving the chart neutral inside the 998 - 983.60 trading range.  A trade above 998 - 1000.90 area is slightly bullish but only a trade above 1007.20 and 1009.40 weekly channels can bring any solid bullishness back to the chart.  A trade below 983.60 is bearish and can bring prices down to challenge the 964.20 channel support.  A trade below 964.20 - 960.50 bottom will fail the major support that will change the major trend to the downside for lower prices.  Remain defensive inside the 998 - 983.60 trading area.
                           
Day trades:  For The Sept. contract -
 
Aggressive traders can sell rallies near 997 - 998 area for obj. near 993 - 991.50 area.  (Use a buy stop and rev. long at 1001.70).
 
Aggressive traders can buy dips near 983.60 - 980.60 area for obj. near 987 - 989 area.  (Use a sell stop and rev. short at 973).  (Conservative traders can use a protective sell stop at 981.70.  Do not rev. short).
 
Buy stop at 1001.70 for obj. near 1004 - 1007 area.
Buy stop at 1018.70 for obj. near 1021 - 1024 area.
 
Sell stop at 987 for obj. near 984.50 - 983.60 area.
Sell stop at 973 for obj. near 967 - 964.20 area.
Sell stop at 957.50 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 07/29/03 (9:45 am est) 

 
Short positions were taken at 996 and 997.50.  The sell-off down to 994.20 is near enough to the 993 obj. and completes the trades.

Bulletin - Originally sent 07/29/03 (10:17 am est) 

 
The sell stop was hit at 987 putting traders into short positions.  The sell-off down to 983.60 completes the trade.
 
Long positions were taken at 983.60.  The rally up to 986.70 is near enough to the 987 obj. and completes the trade.

Bulletin - Originally sent 07/29/03 (10:52 am est) 

 
Long positions were taken at 982.  The rally up to 986 is near enough to the 987 obj. and completes the trade.

Results:    07/29/03

Sold @ 996 Bought @ 994.20 = + $   450.00
Sold @ 997.50 Bought @ 994.20 = + $   825.00
Sold @ 987 Bought @ 984 = + $   750.00
Bought @ 983.60 Sold @ 986.50 = + $   725.00
Bought @ 982 Sold @ 986   = + $1,000.00     sold as per bulletin
TOTAL (P & L)    + $3,750.00
 
   thetechguru.com 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 07-30-03 :  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 Sept. contract -
990.50 peak (major) / 993.30 peak (major) / 995.30 minor day channel with GBX prices and 995.70 peak (major area) / 997.60 day channel with GBX prices and 997.50 day top also 997.90 GBX top (very major area) / 999.50 day top and 1000.50 GBX top also 1000.90 day session closing price (major area) / 1004 day top (major) / 1007.20 GBX top and 1007.80 long-term major weekly channel (very major area) / 1009.40 major weekly channel and 1010 day top also 1010.10 weekly channel (very major area) / 1014.80 weekly double top and 1015.80 weekly chart's top (very major area) / 1020 day top (significant) / 1025.60 and 1028.30 weekly closing prices (major area) / 1035 monthly channel (very major area).
 
Support:  For the Sept. contract -
986.30 intra-day channel and 986.20 base (major area) / 985.50 and 984.80 base area also 984.50 minor day channel (major area) / 981.50 day bottom and 981.40 long-term day channel (very major area) / 978 day channel and 976.80 minor day channel (very major area) / 975.50 and 974.20 day bottoms also 973.80 weekly bottom and 973.30 monthly closing price (major area) / 964.20 weekly channel and 960.50 weekly bottom (very major area) / 952 day bottom (major) / 950 minor day channel and 948 day gap (major area) / 945 day bottom and 943.20 weekly closing price (very major area).
 
Comments:  
    The whiplashing action on Tuesday proved the neutral condition.  The market continues to remain neutral inside the 997.60 - 981.40 trading area.  A trade above or below this neutral area can possibly point a direction.  Remain defensive inside this neutral area until a direction is established.
                               
Day trades:  For The Sept. contract -
 
Aggressive traders can sell rallies near 993 - 995 area and if possible near 997.90 for obj. near 987 - 986.30 area and possibly near 981.40.  (Use a buy stop and rev. long at 1001.70).
 
Aggressive traders can sell rallies near 1007 - 1009 area for obj. near 1001 - 999 area.  (Use a buy stop and rev. long at 1018.70).  (Conservative traders can use a protective buy stop at 1012.  Do not rev. long).
 
Buy stop at 1001.70 for obj. near 1004 and possibly near 1007.
Buy stop at 1018.70 for obj. near 1021 - 1024 area.
 
Sell stop at 980.50 for obj. near 978.
Sell stop at 973 for obj. near 967 - 964.20 area.
Sell stop at 958 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 07/30/03 (9:43 am est) 

 
Short positions were taken at 992.50 on the opening.  The sell-off down to 988.70 is near enough to the 987 obj. and completes the trade.

Results:    07/30/03

Sold @ 992.50 Bought @ 988.70   = + $   950.00    
TOTAL (P & L)    + $   950.00
 
   thetechguru.com 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 07-31-03 :  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 -
987 intra-day channel and 987.50 day channel also 987.70 peak (major area) / 989.50 and 989.70 peaks also 989.70 GBX channel (major area) / 991 peak and 992.50 day top also 992.70 GBX channel (major area) / 993.80 GBX top (major area) / 994.90 day channel and 996.20 day channel with GBX prices (very major area) / 998 and 999.50 day tops also 1000.50 GBX top and 1000.90 day session closing price (major area) / 1004 day top (major) / 1007.20 GBX top and 1007.80 long-term major weekly channel (very major area) / 1009.40 major weekly channel and 1010 day top also 1010.10 weekly channel (very major area) / 1014.80 weekly double top and 1015.80 weekly chart's top (very major area) / 1020 day top (significant) / 1025.60 and 1028.30 weekly closing price (major area) / 1035 monthly channel (very major area).
 
Support:  For the Sept. contract -
984 day bottom and 983.30 long-term day channel (very major area) / 981.50 day bottom (significant) / 978.80 day channel and 977.90 minor weekly channel (very major area) / 976.70 weekly channel and 975.50 day bottom (very major area) / 974.20 day bottom and 973.80 weekly bottom also 973.30 monthly closing price (major area) / 964.20 weekly channel and 960.50 weekly bottom (very major area) / 952 day gap and 950.50 minor day channel (major area) / 948 day gap and 945 day bottom (very major area).
 
Comments:  
    The sell-off on Wednesday from the resistance area managed to closed the market down for the third day in a row, which is slightly bearish, but the market was able to hold above the 983.30 channel support leaving the chart neutral to slightly bearish.  A trade below 983.30 is bearish and can bring prices down to challenge the 978 channel support.  A trade below 978 - 976.70 area can bring prices down to the last major support at 964.20 but will be very defensive at this time for possible lower prices.  A trade above 989.70 and 992.70 channels is slightly bullish but a trade above 994.90 and 996.20 channels is bullish and can bring prices up to challenge the very major resistance at 1007.80 and 1009.40 areas.  Remain defensive today inside the first narrow neutral range between 989.70 and 983.30 and the wider trading range between 996.20 - 978.
                                   
Day trades:  For The Sept. contract -
 
Only if the market opens below 989.50 -  Aggressive traders can sell rallies near 987 - 989 area for obj. near 984 - 983.30 area.  (Use a protective buy stop at 990.30.  Do not rev. long).
 
Aggressive traders can sell rallies near 992 and if possible near 994 - 996.20 area for obj. near 987.50 - 986 area.  (Use a buy stop and rev. long at 1001.70).
 
Aggressive traders can sell rallies near 1007 and if possible near 1009, if it gets there, for obj. near 1002 - 1000 area and possibly near 997.  (Use a buy stop and rev. long at 1018.70).  (Conservative traders can use a protective buy stop at 1012.  Do not rev. long).
 
Buy stop at 1001.70 for obj. near 1004 - 1004.50 area and possibly near 1006 - 1007 area.
Buy stop at 1018.70 for obj. near 1020 - 1024 area.
 
Sell stop at 982 for obj. near 980 - 978 area.
Sell stop at 972 for obj. near 967 - 964.20 area.
Sell stop at 957.50 for obj. near 952 - 950.50 area and possibly near 948 gap.
 

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

Bulletin - Originally sent 07/31/03 (10:05 am est) 

 
Short positions were taken on the opening at 994.50.  The sell-off down to 989.50 is near enough to the 987.50 obj. and completes the trade. 

Bulletin - Originally sent 07/31/03 (10:25 am est) 

 
Short positions were taken at 995 on the second rally due to the significance of the area.  The sell-off down to 987.50 completes the trade for the second time.  This trade is now considered a high risk and should not be repeated. 

Bulletin - Originally sent 07/31/03 (11:06 am est) 

 
The buy stop at 1001.70 was hit putting traders into long positions.  Because of the overbought conditions, this trade is now considered a high risk, and should be liquidated.
 
It is recommended to exit long positions at the market, which is trading at 1001.50 and scratch the trade.

Results:    07/31/03

Sold @ 994.50 Bought @ 989.50 = + $1,250.00
Sold @ 995 Bought @ 987.50 = + $1,875.00
Bought @ 1001.70 Sold @ 1001.50   = -  $     50.00    
TOTAL (P & L)    + $3,075.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 08-01-03 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the Sept. contract -
991.30 peak (major) / 993.50 and 994.20 peaks (major area) / 995.70 to 995.80 intra-day gap and 996.50 intra-day channel (very major area) / 999.50 and 999.90 peaks (major area) / 1002.90 day channel and 1003.50 peak also 1003.80 and 1004 day tops (very major area) / 1007.20 GBX top and 1007.80 long-term major weekly channel (very major area) / 1009.40 major weekly channel and 1010 day top also 1010.10 weekly channel (very major area) / 1014.80 weekly double top and 1015.80 weekly chart's top (very major area) / 1020 day top (significant) / 1025.60 and 1028.30 weekly closing price (major area) / 1035 monthly channel (very major area).
 
Support:  For the Sept. contract -
989 minor day channel (significant) / 987.90 minor day channel with GBX prices and 987.30 intra-day channel also 987 day bottom and 986.60 day gap (major area) / 985.40 GBX bottom and 985.30 long-term major day channel also 984 day bottom (very major area) / 981.50 day bottom (major) / 979.70 day channel and 977.90 minor weekly channel (very major area) / 976.70 weekly channel and 975.50 day bottom (very major area) / 974.20 day bottom and 973.80 weekly bottom also 973.30 monthly closing price (major area) / 964.20 weekly channel and 960.50 weekly bottom (very major area) / 952 day gap and 951.50 minor day channel (major area) / 948 day gap and 945 day bottom (very major area).
 
Comments:  
    The sell-off on Thursday from the major resistance area was significant and slightly bearish but it managed to hold above the support area closing in neutral territory again.  A trade today above the 995.70 - 996.50 area is slightly bullish but only a trade above the 1007.80 - 1009.40 weekly channels can bring any solid bullish back to the chart.  A trade below 985.30 - 984 area is bearish but a trade below 977.90 - 976.70 area is very bearish and can possibly be the first major signal of a reversal in the major trend to the downside.  A trade below 964.20 - 960.50 area will confirm a major downtrend intact for lower prices to follow.  Remain defensive inside the neutral trading area between 996.50 - 985.30 area until the market can prove a solid direction.  
                       
Day trades:  For The Sept. contract -
 
Aggressive traders can buy dips near 987.30 - 984 area for obj. near 989 - 991 area.  (Use a sell stop and rev. short at 983.70).
 
Aggressive traders can sell rallies near 994 - 996.50 area for obj. near 990 - 989 area.  (Use a protective buy stop at 998.70.  Do not rev. long).
 
Aggressive traders can sell rallies near 1002.50 - 1004.50 area and if possible near 1007.80, if it gets there, for obj. near 998 - 996 area and possibly near 994.  (Use a protective buy stop at 1012.  Do not rev. long).
 
Sell stop at 983.70 for obj. near 981 - 979.70 area and possibly near 977.90.
Sell stop at 972 for obj. near 967 - 964.20 area.
Sell stop at 957.50 for obj. near 952.50 - 951.50 area and possibly near 948 gap. 
 

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

Bulletin - Originally sent 08/01/03 (9:55 am est) 

 
The sell stop was hit at 983.70 putting traders into short positions.  The market is showing signs of support in this area at this time.
 
It is recommended to exit the short position at the market, which is trading at 985 at this time and cut losses.

Results:    08/01/03

Bought @ 985.50 Sold @ 983.70 = -  $   450.00
Sold @ 983.70 Bought @ 984.50   = -  $   200.00    
TOTAL (P & L)    -  $   650.00
The week in review - 08/04/03 - 08/08/03
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 08-04-03 :  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 Sept. contract -
980.30 peak and 981.20 day channel with GBX prices also 981.70 intra-day channel (major area) / 983 and 984.50 peaks (major area) / 987 peak and 987.50 day top also 989.30 day gap (major area) / 992.50 GBX top and 994.20 peak (major) / 998.30 newly developed weekly channel and 999.30 newly developed monthly channel also 999.90 peak (very major area) / 1002.10 day channel and 1003.50 peak also 1003.80 and 1004 day tops and 1004.30 weekly channel (very major area) / 1006.70 and 1007.70 weekly channels (very major area) / 1014 minor weekly channel and 1014.80 double top also 1015.80 weekly chart's top (very major area) / 1020 day top (significant) / 1025.60 and 1028.30 weekly closing prices also 1026.10 newly developed monthly channel (very major area).
 
Support:  For the Sept. contract -
977 day bottom and 976.60 day channel also 975.50 day bottom (major area) / 974.20 day bottom and 973.80 weekly bottom also 973.30 monthly closing price (major area) / 969.80 day channel and 969.50 minor weekly channel (very major area) / 962.20 monthly closing price and 960.50 weekly bottom (very major area) / 952 day bottom (major) / 948 day gap and 945 day bottom (very major area).
 
Comments:  
    The sell-off on Friday was a continuation from Thursday's resistance and managed to close the end of the week lower then the past four weeks closing prices, leaving the chart in bearish condition.  A trade below 976.60 channel and 973.80 weekly bottom will challenge the 969.50 weekly channel.  A trade below 969.50 is bearish and can prove to be a signal of the newly developed downtrend.  A trade below 960.50 will confirm the downtrend intact for lower prices.  A trade today above 992.50 - 994.20 area is slightly bullish but only a trade above 998.30 - 999.30 major channels can bring any solid bullishness back to the chart.  Remain defensive inside the 989.30 - 976.60 trading range.
                           
Day trades:  For The Sept. contract -
 
Aggressive traders can buy dips near 978 - 976.60 area or sell rallies near 980 - 983 area, whichever side comes first to complete the trade.  (Use a sell stop and rev. short at 973).  (Use a protective buy stop at 985.  Do not rev. long).
 
Sell stop at 973 for obj. near 970.50 - 969.50.
Sell stop at 966.50 for obj. near 963.50 - 960.50.
Sell stop at 957.50 for obj. near 953.50 - 952 area and possibly near 948 gap.
 
Buy stop at 994.80 for obj. near 998 - 999.30 area.
Buy stop at 1018 for obj. near 1021 - 1025 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 8/04/03 9:45 am est)

 
Long positions were taken at 977.  Because prices traded below 976.60, conditions are now bearish. 
 
It is recommended for traders to exit long positions near 975 and cut losses.  The sell stop at 973 will put traders into short positions.

Bulletin - (Originally sent 8/04/03 9:47 am est)

The trade up to 974.70 completes the short position with a small loss.

Bulletin - (Originally sent 8/04/03 9:52 am est)

 
The sell stop at 973 was hit, putting traders into short positions.  The sell off down to 970.30 meets the obj. at 970.50 and completes the trade.

Bulletin - (Originally sent 8/04/03 1:36 pm est)

The sell stop at 966.50 was hit, putting traders into short positions.  The rally up to 979 brought prices into the sell area again, where additional short positions were taken.  The cost average of the two short positions are now at 972.70.  Traders should exit short positions in the cost average area near 972.70 and scratch the trades.  (Continue to use the protective buy stop at 985). 

Bulletin - (Originally sent 8/04/03 1:51 pm est)

 
The cost average short positions remain at 972.70.  The market is showing signs of support at 974.80, which is now an intra-day channel support. 
 
It is recommended for traders to exit their short positions near 975.30 and cut losses.
 
Bulletin - (Originally sent 8/04/03 3:01 pm est)
 
The rally up to 982 - 984 area put traders into short positions again in the sell area.  The obj, is near 980 - 978 area.  (Continue to use a protective buy stop at 985.  Do not rev. long).

Bulletin - (Originally sent 8/04/03 3:20 pm est)

 
The sell stop was hit at 985 to end the trade with a loss. 
 
The resistance at 985 seems significant as seen with a sell-off as soon as it hit the stops.
 
Very aggressive traders can attempt short positions again in the 982 - 984 area for an obj. near 980 - 978.  (Use a protective buy stop at 986.50).

Bulletin - (Originally sent 8/04/03 3:43 pm est)

 
The short position taken at 983 was completed on the sell-off at 979.50.

Results:    08/04/03

Sold @ 977 Bought @ 974.70 = -  $   575.00     bought as per bulletin
Sold @ 973 Bought @ 970.50 = + $   625.00     
Sold @ 966.50 Bought @ 975.30 = -  $2,200.00     bought as per bulletin
Sold @ 979 Bought @ 975.30 = + $   925.00     bought as per bulletin
Sold @ 983.50 Bought @ 985 = -  $   375.00     sold as per bulletin     
Sold @ 983.50 Bought @ 979.50 = + $1,000.00     sold as per bulletin
TOTAL (P & L)    -  $   600.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 08-05-03 :  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 Sept. contract -
982.50 minor day channel and 983 intra-day channel (major area) / 985 day top (major) / 987 peak and 987.50 day top also 989.30 day gap (major area) / 992.50 GBX top and 994.20 peak (major area) / 998.30 weekly channel and 999.30 monthly channel also 999.90 peak and 1001.30 day channel (very major area) / 1003.80 and 1004 day tops also 1004.30 weekly channel and 1004.70 monthly channel (very major area) / 1006.70 and 1007.70 weekly channels (very major area) / 1010 day top (major) / 1014 minor weekly channel and 1014.80 double top also 1015.80 weekly chart's top (very major area) / 1020 day top (significant) / 1025.60 and 1028.30 weekly closing prices also 1026.10 monthly channel (very major area).
 
Support:  For the Sept. contract -
979.20 base and 979 rev. peak also 978.80 intra-day channel (major area) / 975.60 rev. channel (major) / 973.50 and 971.70 base area (major area) / 968.20 base and 966.70 newly developed long-term day channel also 965 day bottom (very major area) / 960.50 weekly bottom (very major area) / 952 day bottom (major) / 948 day gap and 945 day bottom (very major area) / 930.90 weekly closing price (very major area).
 
Comments:  
    The rally on Monday reversed the bearish condition back to a neutral condition.  The major trading area is now wide, between 999.30 and 960.50.  The first neutral trading area today is narrow between the 982.50 - 983 resistance and the 978.80 - 975.60 support.  A trade above or below the first neutral area will challenge the wide major trading area of 999.30 - 960.50.  A trade above 999.30 is bullish and can challenge the 1007.70 and 1014 areas.  A trade above 1014.80 - 1015.80 area will be considered a breakout for higher prices.  A trade below the 978.80 - 975.60 area is slightly bearish but a trade below 966.70 - 960.50 area will be considered a signal for a downtrend and lower prices to follow.  Remain defensive inside the neutral areas until a breakout is seen to either side.
                               
Day trades:  For The Sept. contract -
 
Aggressive traders can sell  rallies near 982 - 983 area or buy dips near 979 - 976 area, whichever side comes first to complete the trade.  (Use a protective buy stop at 987.70.  Do not rev. long).  (Use a protective sell stop at 974.70.  Do not rev. short).
 
Aggressive traders can sell rallies near 997 - 999 area if it gets there, for obj. near 992 - 988 area.  (Use a protective buy stop at 1002.30.  Do not rev. long).
 
Aggressive traders can sell rallies near 1004 - 1007 area, if it gets there, for obj. near 1000 - 998.50 area and possibly near 996.  (Use a protective buy stop at 1012. Do not rev. long).
 
Buy stop at 1018.70 for obj. near 1021 - 1024 area and possibly near 1026.10.
 
Sell stop at 957.50 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 8/05/03 9:51 am est)

 
Long positions were taken at 978.  The rally up to 981 is near enough to 982 obj. and completes the trade.

Bulletin - (Originally sent 8/05/03 10:21 am est)

 
The market remains in neutral condition with no solid direction.  Since the first neutral trading range has been completed, it is recommended not to repeat the first trade because of the high risk at this time.  Rallies up to the major resistances are still considered selling areas, as noted in the report.

Results:    08/05/03

Bought @ 978 Sold @ 981 = + $   750.00       
Sold @ 981.50 Bought @ 977 = + $1,125.00     
TOTAL (P & L)    + $1,875.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 08-06-03 :  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 Sept. contract -
962.50 intra-day channel and 962.70 peak (major area) / 964.50 peak and 965.10 intra-day channel (major area) / 969 peak (major) / 972.80 peak and 974.50 day channel also 974.90 day channel with GBX prices and 975 peak (very major area) / 976.70 peak (significant) / 979.20 minor day channel and 979.50 peak (very major area) / 981.80 day top and 982.10 GBX top (major area) / 985 day top also 987.50 day top to 989.30 day gap (major area) / 992.50 GBX top and 994.20 peak (major area) / 998.30 weekly channel and 999.30 monthly channel also 999.90 peak and 1000.40 day channel (very major area).
 
Support:  For the Sept. contract -
958.50 bottom (major) / 954.40 minor down channel and 952 day bottom (major area) / 948 day gap and 945 day bottom (very major area) / 930.90 weekly closing price (major area) / 927 weekly chart's bottom and 926 Sept. chart's bottom (very major area) / 921.50 day bottom to 920.90 day gap (major area) / 915 monthly closing price (very major area).
 
Comments:  
    The sell-off on Tuesday brought prices down to the major weekly bottom and managed to close slightly below leaving the chart in bearish condition.  The possibility of rallies up to the 974 resistance can be considered a selling opportunity.  Only a trade above 979.50 - 982 area can bring any bullishness back to the chart.  Remain defensive inside the first neutral area between 965.10 and 958.50.
                                   
Day trades:  For The Sept. contract -
 
Aggressive traders can sell rallies near 963 - 965 area for obj. near 960 - 958.50 area.  (Use a buy stop and rev. long at 966.70).
 
Aggressive traders can sell rallies near 972 - 974 area for obj. near 969 - 966 area.  (Use a buy stop and rev. long at 983).
 
Buy stop at 966.70 for obj. near 969 - 970 area and possibly near 972.
Buy stop at 983 for obj. near 986 - 989.30 gap area.
 
Sell stop at 957.50 for obj. near 954.50 - 952 area.
Sell stop at 950.50 for obj. near 948 - 945 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 8/06/03 9:41 am est)

 
Short positions were taken at 962, which was near the 963 sell area.  The sell off down to 960 meets the obj. and completes the trade.
 
This trade is now considered a high risk and should not be repeated.

Bulletin - (Originally sent 8/06/03 12:18 pm est)

 
The buy stop was hit at 966.70 putting traders into long positions.  The rally up to 969 meets the obj. and completes the trade.

Bulletin - (Originally sent 8/06/03 1:59 pm est)

 
Short positions were taken at 972.  The sell-off down to 969 meets the obj. and completes the trade. 

Results:    08/06/03

Sold @ 962 Bought @ 960 = + $   500.00
Bought @ 966.70 Sold @ 969 = + $   575.00
Sold @ 972 Bought @ 969 = + $   750.00       
Sold @ 974 Bought @ 966 = + $2,000.00     
TOTAL (P & L)    + $3,825.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 08-07-03 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the Sept. contract -
966.30 and 967.80 peaks also 968.40 day channel and 969.50 peak (major area) / 974.50 intra-day channel and 976.30 minor day channel also 975.50 day top (very major area) / 979.60 weekly closing price and 980.30 day session closing price (major area) / 981.80 day top and 982.10 GBX top (major area) / 985 day top (major) / 987.50 day top to 989.30 day gap (major area) / 992 GBX top and 994.20 peak (major area) / 998.30 weekly channel and 999.30 monthly channel (very major area).
 
Support:  For the Sept. contract -
962.50 and 961 base also 960.10 newly developed long-term day channel (very major area) / 959.20 base and 958.50 double bottom (major area) / 952.50 minor down channel and 952 day bottom (major area) / 948 day gap and 945 day bottom (very major area) / 930.90 weekly closing price (major area) / 927 weekly chart's bottom and 926 Sept. chart's bottom (very major area) / 921.50 day bottom to 920.90 day gap (major area) / 915 monthly closing price (very major area).
 
Comments:  
    The trading range on Wednesday remained inside the neutral area but the closing price kept the market in a neutral to slightly bearish condition.  Rallies near 966 - 968 area are considered a sell as well as the 974 - 976.10 area.  Only a trade above 976.10 can bring some bullishness back to the chart.  A trade above the 981.80 area can bring prices up near the 998.30 999.30 area, which will be considered a great selling area.  A trade below the 958.50 double bottom is bearish for lower prices.  Remain defensive inside the first neutral area between 968.40 - 960.10 area.
                                       
Day trades:  For The Sept. contract -
 
Aggressive traders can sell rallies near 966 - 968 area or buy dips near 962.50 - 960.10 area, whichever side comes first to complete the trade.  (Use a buy stop and rev. long at 970).  (Use a sell stop and rev. short at 957.50).
 
Aggressive traders can sell rallies near 974 - 976.10 area for obj. near 970 - 968 area.  (Use a buy stop and rev. long at 983).  (Conservative traders can use a protective buy stop at 977.70.  Do not rev. long).
 
Buy stop at 970 for obj. near 973.50 - 975.50 area.
Buy stop at 983 for obj. near 986 - 987.50 area and possibly near 989.30 gap.
 
Sell stop at 957.50 for obj. near 952 and possibly near 948.
Sell stop at 942 for obj. near 937 - 935 area and possibly near 930.90.