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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
- 08/25/03
- 8/29/03
The Tech Guru's
S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Monday
08-25-03 : 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 -
993.20 and 993.70 intra-day
channels and peaks (major area) / 995.70 peak
and 995.80 intra-day channel (major area) /
999.70 and 999.80 peaks (major area) /
1003.30 and 1003.70 peaks also 1005 peak (major area)
/ 1008.80 newly developed major weekly channel also 1009.60
and 1010 newly developed weekly channels (very
major area) / 1013.30 minor weekly channel and
1014.80 double top also 1015.80 weekly chart's top (very
major area) / 1020 weekly top and 1023 day top
(major area) / 1025.60 and 1028.30 weekly
closing prices also 1026.10 monthly channel (very
major area) / 1038 day top and 1042.20 monthly
channel (very major area).
Support: For
the Sept. contract -
990.50 weekly closing gap and 987
weekly channel (very major area)
/ 985.80 day bottom and 982.80 major weekly channel (very
major area) / 979.50 and 978.80 day bottoms
also 977.80 major day channel (very
major area) / 971.40 weekly channel and 969.60
day channel also 968 GBX weekly bottom (very
major area) / 962 day bottom (major)
/ 958.50 weekly bottom and 957.30 minor weekly down channel (very
major area) / 952 day bottom (major)
/ 948 day gap and 945 day bottom (very
major area) / 939.70 weekly down channel (major
area).
Comments:
The sell-off on
Friday from the major resistance removed the bullish condition
from the chart leaving the chart neutral inside the weekly
trading range between 1008.80 and 982.80. A trade today
above 995.80 - 999.80 area is slightly bullish but only a
trade above 1008.80 - 1010 area can bring any solid
bullishness back to the chart. A trade today below
990.50 - 987 is slightly bearish but only a trade below 982.80
can bring any solid bearishness back to the chart.
Remain defensive inside the first neutral area between 995.80
- 987 trading range.
Day
trades: For The Sept. contract -
Aggressive traders can
sell rallies near 993 - 995.80 area or buy dips near
990.50 - 987 area, whichever side comes first to complete the
trade. (Use a protective buy stop at 996.30. Do
not rev. long). (Use a protective sell stop at 985.50.
Do not rev. short).
Aggressive traders can
sell rallies near 1007 - 1009 area for obj. near 1002
- 1000 area. (Use a buy stop and rev. long at 1018.70).
(Conservative traders can use a protective buy stop at
1011.80. Do not rev. long).
Aggressive traders can buy
dips near 984 - 982.80 area for obj. near 987 - 990 area.
(Use a sell stop and rev. short at 975.50).
(Conservative traders can use a protective sell stop at 979.
Do not rev. short).
Buy stop at
1018.70 for obj. near 1022 - 1026 area.
Sell stop at
975.50 for obj. near 972 - 971.40 area.
Sell stop at
965.50 for obj. near 962 - 960 area.
Bulletin - Originally sent 08/25/03 (9:45 am est) Short positions were taken at 993. The sell off down to 990.50 meets the obj. and completes the trade. Bulletin - Originally sent 08/25/03 (11:39 am est) Long positions were taken at the low end of the buy area at 887. The rally up to 990.50 is showing some resistance where long positions should consider taking profits and completing the trade. This trade has been completed to both sides and is now considered a high risk to repeat it again. Results: 08/25/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Tuesday
08-26-03 : 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 -
995.50 and 995.70 peaks (major
area) / 999.70 and 999.80 peaks (major
area) / 1003.30 and 1003.70 peaks also 1005 peak (major
area) / 1008.80 major weekly channel also 1009.60
and 1010 weekly channels (very
major area) / 1013.30 minor weekly channel
and 1014.80 double top also 1015.80 weekly chart's top (very
major area) / 1020 weekly top and 1023 day
top (major area) / 1025.60 and 1028.30
weekly closing prices also 1026.10 monthly channel (very
major area) / 1038 day top and 1042.20
monthly channel (very major
area).
Support: For
the Sept. contract -
990.70 intra-day channel and
990.20 newly developed day channel also 989.50 base (major
area) / 987 weekly channel and 987 day bottom (very
major area) / 982.80 major weekly channel (very
major area) / 979.50 and 978.80 day bottoms
also 979.40 major day channel (very
major area) / 971.40 weekly channel and 970
day channel also 968 GBX weekly bottom (very
major area) / 962 day bottom (major)
/ 958.50 weekly bottom and 957.30 minor weekly down channel (very
major area) / 952 day bottom (major)
/ 948 day gap and 945 day bottom (very
major area) / 939.70 weekly down channel (major
area).
Comments:
Monday's
session remained inside the neutral range leaving the chart
neutral inside the same range between 995.80 and 987.
A breakout to either side of the weekly range between
1008.80 and 982.80 can possibly point a direction.
Remain defensive inside the first neutral range between
995.80 - 987.
Day
trades: For The Sept. contract -
Aggressive traders can
buy dips near 989.50 - 987 area or sell rallies
near 993 - 995.80 area, whichever side comes first to
complete the trade. (Use a sell stop and rev. short at
985). (Use a buy stop and rev. long at 996.50).
Sell stop at
985 for obj. near 983 - 982.80.
Buy stop at
996.50 for obj. near 998.50 - 999.50.
Aggressive traders can
buy dips near 983 - 982.80 area and if possible
near 979.40 for obj. near 987 - 989 area. (Use a sell
stop and rev. short at 975.50).
Aggressive traders can
sell rallies near 1007 - 1008.80 area for obj. near
1003 - 1001 area. (Use a buy stop and rev. long at
1018.70).
Sell stop at
975.50 for obj. near 972 - 971.40 area.
Sell stop at
965.50 for obj. near 962 - 960 area.
Buy stop at
1018.70 for obj. near 1022 - 1026 area.
Bulletin - Originally sent 08/26/03 (9:40 am est) Long positions were taken on the opening at 989. The rally up to 991.50 is an intra-day double top and can prove to be resistance for traders to exit long positions and take profits. Sell at 991 or better to complete the trade. Bulletin - Originally sent 08/26/03 (10:40 am est) The sell stop at 985 was hit, putting traders into short positions. The sell off down to 982.50 meets the obj. and completes the trade at 983. Bulletin - Originally sent 08/26/03 (10:41 am est) The sell off down to 982.50 put traders into long positions in the buy area near 983 - 982.80. The obj. is near 987 - 989 area. (Continue to use a sell stop and rev. short at 975.50). Bulletin - Originally sent 08/26/03 (11:34 am est) Long positions were taken at 982.80. The rally up to 986 is showing signs of resistance for traders to consider taking profits. It is recommended for traders to exit long positions near 985 - 986 area and take profits. Results: 08/26/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Wednesday
08-27-03 : 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 -
995.80 and 996.30 peaks also
997.80 day top (major area) / 999.70 and
999.80 peaks (major area) / 1003.30 and
1003.70 peaks also 1005 peak (major area)
/ 1008.80 major weekly channel also 1009.60 and 1010
weekly channels (very major
area) / 1013.30 minor weekly channel and
1014.80 double top also 1015.80 weekly chart's top (very
major area) / 1020 weekly top and 1023 day
top (major area) / 1025.60 and 1028.30
weekly closing prices also 1026.10 monthly channel (very
major area) / 1038 day top and 1042.20
monthly channel (very major
area).
Support: For
the Sept. contract -
994.50 base and 992.80
intra-day gap (major area) / 989.50 and
989.30 base (major area) / 986.50 and
986.20 base also 984.60 day channel (major area)
/ 982.50 day bottom and 981 major day channel (very
major area) / 979.50 and 978.80 day
bottoms (major area) / 971.40 weekly
channel and 970.50 day channel also 968 GBX weekly bottom (very
major area) / 962 day bottom (major)
/ 958.50 weekly bottom and 957.30 minor weekly down
channel (very major area)
/ 952 day bottom (major) / 948 day gap
and 945 day bottom (very
major area) / 939.70 weekly down channel (major
area).
Comments:
The
reversal rally on Tuesday from the major support proved
the significance of the area but the chart continues to
remain inside the weekly neutral range between 1008.80 and
982.80. A breakout to either side of the weekly
range can possibly point a direction. Remain
defensive inside the first neutral trading area between
999.80 - 992.80 area.
Day
trades: For The Sept. contract -
Aggressive traders can
buy dips near 995 - 992.80 area or sell rallies
near 997.50 - 999.80 area, whichever side comes first to
complete the trade. (Use a protective sell stop at
989. Do not rev. short). (Use a protective buy
stop at 1001. Do not rev. long).
Aggressive traders can
buy dips near 985 - 982 area for obj. near 989 -
991 area. (Use a sell stop and rev. short at 978).
Aggressive traders can
sell rallies near 1008 - 1008.80 area and if
possible near 1010 for obj. near 1004 - 1001 area.
(Use a buy stop and rev. long at 1018.70).
Sell stop at
978 for obj. near 973 - 971.40.
Sell stop at
967 for obj. near 963 - 960.50 area.
Buy stop at
1018.70 for obj. near 1022 - 1026.10 area.
Buy stop at
1030 for obj. near 1035 - 1038 area.
Bulletin - Originally sent 08/27/03 (10:03 am est) Long positions were taken on the opening at 994.50. The rally up to 995.70 fell short of the obj. which was near 997. It is recommended to exit the long position at the market, which is trading at 994.50 at this time and scratch the trade. Results: 08/27/03
A TECHNICAL
GUIDE FOR DAY TRADING THE S & P
S
& P - For Thursday
08-28-03 : 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 -
997.50 and 997.80 double
top area (major area) / 999.70 and
999.80 peaks (major area) / 1003.30
and 1003.70 peaks also 1005 peak (major area)
/ 1008.80 major weekly channel also 1009.60 and 1010
weekly channels (very
major area) / 1013.30 minor weekly
channel and 1014.80 double top also 1015.80 weekly
chart's top (very major
area) / 1020 weekly top and 1023 day
top (major area) / 1025.60 and
1028.30 weekly closing prices also 1026.10 monthly
channel (very major
area) / 1038 day top and 1042.20
monthly channel (very
major area).
Support: For
the Sept. contract -
995 intra-day channel and
994.30 base (major area) / 992.50 day
bottom and 991 base (major area) /
986.80 and 986.30 base also 986.60 day channel (very
major area) / 982.60 major day channel
and 982.50 day bottom (very
major area) / 979.50 and 978.80 day
bottom also 978 weekly closing price (major
area) / 972.20 day channel and 971.40 weekly
channel (very major
area) / 968 GBX weekly bottom (major
area) / 962 day bottom (major)
/ 958.50 weekly bottom and 957.30 minor weekly down
channel (very major
area) / 952 day bottom (major)
/ 948 day gap and 945 day bottom (very
major area) / 939.70 weekly down
channel (major).
Comments:
Wednesday's trading range remained inside the first
neutral area leaving the chart neutral inside the
997.80 and 994.30 area and the 999.80 - 986.60 trading
area. The major weekly trading range still
remains between 1008.80 and 982.60. A breakout
to either side of this weekly range can possibly point
a direction. Remain defensive inside the first
two neutral trading areas between 999.80 and 986.60.
Day
trades: For The Sept. contract -
Aggressive traders
can sell rallies near 998 - 999.80 area or
buy dips near 995.50 - 994.30 area, whichever side
comes first to complete the trade. (Use a buy
stop and rev. long at 1000.30). (Use a sell stop
and rev. short at 993).
Buy stop
at 1000.30 for obj. near 1003 - 1005 area.
Sell stop
at 993 for obj. near 989 - 986.60 area.
Aggressive traders
can sell rallies near 1007 - 1008.80 area for
obj. near 1003 - 1001 area. (Use a protective
buy stop at 1011.70. Do not rev. long).
(Aggressive traders can use a buy stop and rev. long
at 1018.70).
Aggressive traders
can buy dips near 983 - 982.60 area for obj.
near 987 - 989 area. (Use a sell stop and rev.
short at 977).
Buy stop
at 1018.70 for obj. near 1022 - 1026 area.
Sell stop
at 977 for obj. near 973 - 971.40 area.
Bulletin - Originally sent 08/28/03 (10:05 am est)
Short positions were taken
998.50. The sell off down to 995.50 meet the obj. and
completes the trade.
Bulletin - Originally sent 08/28/03 (10:24 am est)
The sell stop was hit at 993
putting traders into short positions. The 990.50 area
is showing signs of support. A trade down to the
990.50 area will be considered a intra-day double bottom
where short positions should take profits to complete the
trade.
Bulletin - Originally sent 08/28/03 (10:50 am est)
The 992 - 993 area is showing
signs of support at this time. It is recommended to exit
the short positions taken at 993 and scratch the trade.
The market is trading at 992.50 at this time.
Bulletin - Originally sent 08/28/03 (3:50 pm est)
The buy stop was hit at 1000.30
putting traders into long positions. The rally up to
1003 meets the obj. and completes the trade.
Results: 08/28/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Friday
08-29-03 : 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 -
1001.80 and 1002.40 peaks
also 1002 newly developed day channel (major
area) / 1004 day top and 1005 peak (major
area) / 1008.80 major weekly channel also
1009.60 and 1010 weekly channels (very
major area) / 1013.30 minor weekly
channel and 1014.80 double top also 1015.80 weekly
chart's top (very major
area) / 1020 weekly top and 1023 day top
(major area) / 1025.60 and 1028.30
weekly closing prices also 1026.10 monthly channel (very
major area) / 1038 day top and 1042.20
monthly channel (very
major area).
Support: For
the Sept. contract -
998 intra-day channel and
998 base (major area) / 996 and 995.20
base also 994.50 day channel (very
major area) / 992.50 and 990.50 weekly
closing prices also 990.50 day bottom (major
area) / 988.70 day channel with GBX prices (major
area) / 984.30 long-term major day channel also
982.50 day bottom and weekly channel (very
major area) / 979.50 and 978.80 day
bottoms also 978 weekly closing price (major
area) / 973 major day channel and 971.40 weekly
channel (very major area)
/ 968 GBX weekly bottom (major area) /
962 day bottom (major) / 958.50 weekly
bottom and 957.30 minor weekly down channel (very
major area) / 952 day bottom (major).
Comments:
The rally
on Thursday managed to close in neutral to slightly
bullish territory but continues to face the 1008.80 -
1010 weekly channel resistance lines. A trade
above 1008.80 - 1010 is bullish and a trade above
1013.30 - 1015.80 will be considered a breakout for
higher prices. A trade today below 994.50 is
slightly bearish but only a trade below 984.30 - 982.50
area can bring any solid bearishness back to the chart.
Remain defensive inside the first neutral trading area
between 1003 - 994.50 and also the weekly range between
1008.80 and 982.50.
Day
trades: For The Sept. contract -
Aggressive traders
can buy dips near 998.50 - 994.50 area for obj.
near 1002 - 1003 area. (Use a sell stop and rev.
short at 993.70).
Sell stop
at 993.70 for obj. near 991 - 990.50 area.
Aggressive traders
can buy dips near 985 - 984.50 area for obj.
near 988 - 989 area. (Use a sell stop and rev.
short at 981.50).
Aggressive traders
can sell rallies near 1008 - 1010 area for obj.
near 1004.50 - 1003 area and possibly near 1001.
(Use a buy stop and rev. long at 1018.70).
(Conservative traders can use a protective buy stop at
1011.70. Do not rev. long).
Buy stop at
1018.70 for obj. near 1021 - 1024 area.
Sell stop
at 981.50 for obj. near 978 - 976 area and possibly near
973.
Sell stop
at 970 for obj. near 968 - 965 area and possibly near
962.
Bulletin - Originally sent 08/29/03 (9:35 am est)
The aggressive trade sent
recommending traders to sell near 1002 - 1003 should be
cancelled if the 999 - 998 area is hit first putting
traders into long positions.
Bulletin - Originally sent 08/29/03 (9:49 am est)
Long positions were taken
at 999. The rally up to 1002 meets the obj. and
completes the trade.
Bulletin - Originally sent 08/29/03 (2:14 pm est)
Because of the neutral to
bullish conditions this morning and the technically
supportive chart formation that has developed at this
time, it is recommended to cancel the trade recommendation
in today's report to sell at the 1008 - 1010 area.
Have a good holiday.
Results: 08/29/03
The week in review
- 09/02/03 -
09/05/03
The Tech Guru's
S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P - For Tuesday
09-02-03 : 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 Sept. contract -
1011.60 day channel and 1012.20 weekly top
also 1013.10 minor weekly channel (very
major area) / 1014.80 double top and 1015.80 weekly
chart's top (major area) / 1020 weekly top and 1023 day
top (major area) / 1025.60 and 1028.30 weekly closing
prices also 1026.10 monthly channel (very
major area) / 1038 day top (major) /
1042.20 monthly channel and 1044 weekly top (very
major area) / 1053.50 day top (major) /
1061.50 weekly top and day gap (major area).
Support: For the
Sept. contract -
1006.90 and 1006.40 rev. weekly channels
also 1005.50 intra-day channel and 1005 base (major area)
/ 1003.50 intra-day channel and 1002.50 day channel (very
major area) / 1000.20 base and 999 day bottom (major
area) / 996 and 995.20 base (major area) /
992.80 day channel also 991.70 base (major area) /
990.60 and 990.50 newly developed weekly channels also 990.50 day bottom
and 989.50 newly developed weekly channel (very
major area) / 987.50 long-term day channel (very
major area) / 982.50 weekly bottom and 979.50 day bottom
also 978.80 day bottom and 978 weekly closing price (major area)
/ 975.70 weekly channel and 973 day bottom (very
major area) / 968 GBX weekly bottom (major area)
/ 962 day bottom (major) / 958.50 weekly bottom and
956.90 weekly down channel (very major
area).
Comments:
The rally on Friday from
the support area managed to close the day session up for the fifth day
in a row and also up for the third week in a row, leaving the chart
in neutral to bullish condition. A trade above 1013.10 and 1014.80
will be considered a breakout for higher prices to follow. A trade
below 1002.50 today is slightly bearish but only a trade below 990.50 -
989.80 can bring any solid bearishness back to the chart. Remain
defensive inside the 1013.10 - 1002.50 neutral trading area and
also the weekly trading range between 1014.80 - 990.50 area.
Day trades:
For The Sept. contract -
Aggressive traders can sell
rallies near 1011.50 - 1013.10 area for obj. near 1007.50 - 1006.50
area. (Use a buy stop and rev. long at 1018.70).
(Conservative traders can use a protective buy stop at 1013.70.
Do not rev. long).
Aggressive traders can buy
dips near 1003.50 - 1002.50 area for obj. near 1006.50 - 1008 area.
(Use a protective sell stop at 998.50. Do not rev. short).
Aggressive traders can buy
dips near 991 - 990.50 area and if possible near 989.80 for obj. near
995 - 996 area. (Use a sell stop and rev. short at 986).
Buy stop at 1018.70 for
obj. near 1021 - 1024 area and possibly near 1026.10.
Buy stop at 929.50 for
obj. near 935 - 938 area.
Sell stop at 986 for obj.
near 983 - 979.50 area and possibly near 975.70 area.
Sell stop at 972 for obj.
near 968 and possibly near 962 area.
Bulletin - (Originally sent 9/02/03 10:05 am est)
Short positions were taken at 1012. The
sell off down to 1010.50 is showing signs of support. Traders should
exit the short position near 1012 - 1011.50 and scratch the trade.
Bulletin - (Originally sent 9/02/03 11:04 am est)
The sell-off down to 1004.50 was near enough
to the 1003.50 buy area putting traders into long positions. The
rally up to 1008 meets the obj. and completes the trade.
Bulletin - (Originally sent 9/02/03 3:27 pm est)
The buy stop at 1018.70 was hit putting
traders into long positions. The rally up to 1021 meets the obj.
and completes the trade.
Results: 09/02/03
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P -
For Wednesday
09-03-03 : 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 Sept. contract -
1023 day top and 1025.60 weekly closing price (major area)
/ 1026.10 monthly channel (very
major area) / 1028.30 weekly closing price (major
area) / 1038 day top (major) / 1042.20
monthly channel and 1044 weekly top (very
major area) / 1053 day top (major)
/ 1061.50 weekly top and gap (major area) /
1067.50 monthly closing price (very
major area) / 1071 monthly top (major
area).
Support: For
the Sept. contract -
1020.20 intra-day channel also 1019.70 and 1019.40 base (major
area) / 1014.30 intra-day channel (major area)
/ 1010.70 intra-day gap and 1010.30 base also 1009.20 day channel (major
area) / 1006.50 day channel and 1004.50 day bottom (very
major area) / 999 day bottom (major)
/ 994.90 day channel (major area) / 990.60 and
990.50 weekly channels also 990.50 day bottom and 989.50 weekly
channel also 989.10 long-term day channel (very
major area) / 982.50 weekly bottom and 979.50 day
bottom also 978.80 day bottom and 978 weekly closing price (major
area) / 975.70 weekly channel and 973 day bottom (very
major area).
Comments:
The rally on Tuesday brought prices up near the
monthly channel resistance at 1026.10, which can stimulate some
selling pressure. A trade above the 1026.10 - 1028.30 area
will be considered a breakout for prices to challenge the 1042.20
monthly channel. A trade today below 1009.20 - 1006.50 area
is slightly bearish but only a trade below the 990.60 and 989.50
weekly channels can bring any solid bearishness back to the chart.
Remain defensive inside the 1026.10 - 1009.20 trading range.
Day trades:
For The Sept. contract -
Aggressive traders can sell rallies near 1024.50
- 1026.10 area for obj. near 1021 - 1020 area and possibly near
1019.40. (Use a buy stop and rev. long at 1030).
Aggressive traders can buy dips near 1009.20 -
1006.50 area for obj. near 1014 - 1015.50 area. (Use a sell
stop and rev. short at 1002.70).
Sell stop at 1017.70 for obj. near 1012 - 1009.20
area.
Sell stop at 1002.70 for obj. near 999 - 994.90
area.
Buy stop at 1030 for obj. near 1035 - 1038 area.
Buy stop at 1045.30 for obj. near 1048 - 1053
area.
Bulletin - (Originally sent 9/03/03 9:51 am est)
Short positions were taken at 1024.50 on
the opening. The sell-off down to 1022 was near enough to the
1021 obj. and completes the trade.
Due to the significance of the
resistance at 1026.10, the 1024.50 - 1026.10 area can be considered
a selling area for the trade to be repeated. (Use the same
obj. and stop areas).
Bulletin - (Originally sent 9/03/03 10:21 am est)
Short positions were repeated at
1025.20. Due to the fact that the market broke above the
1026.10 resistance and is holding support at the 1022 - 1023 area,
it is showing signs of higher prices to follow.
It is recommended to exit short
positions at the market and scratch the trade. The market is
trading at 1026 at this time.
Results: 09/03/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S & P
- For Thursday
09-04-03 : 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 -
1029.50 day top (major) / 1036.50 and 1036.70
upper channels also 1038 day top (major area) /
1042.20 monthly channel and 1044 weekly top (very
major area) / 1053 day top (major)
/ 1061.50 weekly top and gap (major area) /
1067.50 monthly closing price (very
major area) / 1071 monthly top (major
area) / 1082.40 weekly closing price and 1086.80 weekly
top (major area).
Support: For
the Sept. contract -
1024.50 intra-day channel (major area) /
1022.70 base and 1022 day bottom also 1020.20 GBX bottom (major
area) / 1018.30 intra-day channel also 1017.80 to
1017.20 intra-day gap also 1017.20 intra-day channel (major
area) / 1013.80 day channel and 1012.70 base (major
area) / 1010.50 minor day channel and 1010.30 base also
1010 day channel and 1008.80 base (very
major area) / 1004.50 intra-day channel and
1004.50 day bottom (major area) / 999 day
bottom and 997 day channel (major area) /
990.70 long-term major day channel also 990.60 and 990.50 weekly
channels (very major area)
/ 989.80 minor weekly channel and 987 day channel (very
major area) / 982.50 weekly bottom (major
area) / 979.50 and 978.80 day bottoms also 978 weekly
closing price (major area) / 975.70 weekly
channel and 973 day bottom (very
major area).
Comments:
The follow through rally on Wednesday managed
to close above the 1026.10 monthly channel leaving the chart in
bullish territory. The only resistance that can possibly
put a lid on further rallies is the monthly channel at 1042.20.
A trade above 1042.20 - 1044 area can prove to be a signal for
higher prices and possibly reaching up near the major 50%
retracement area between 1153 - 1170.50 area. A trade
today below 1013.80 and 1010 area is slightly bearish but only a
trade below the 990.60 weekly channel can bring any solid
bearishness back to the chart. Remain defensive inside the
wide trading area between the 1036.50 - 1042.20 resistance and
1013.80 - 1010 support and also inside the first neutral range
between 1029.50 and 1024.50 area.
Day
trades: For The Sept. contract -
Aggressive traders can sell rallies near
1027.50 - 1029 area or buy dips near 1025 - 1024.50 area,
whichever side comes first to complete the trade. (Use a
buy stop and rev. long at 1030.70). (Use a sell stop and
rev. short at 1023.30).
Aggressive traders can sell rallies near 1042 -
1044 area for obj. near 1036.50 and possibly near 1033.
(Use a buy stop and rev. long at 1045.70).
Aggressive traders can buy dips near 1013.80 -
1010 area for obj. near 1017 - 1019 area and possibly near 1021.
(Use a sell stop and rev. short at 1007).
Buy stop at 1030.70 for obj. near 1036 -
1036.70 area and possibly near 1038 - 1042 area.
Buy stop at 1045.70 for obj. near 1048 - 1053
area.
Sell stop at 1023.30 for obj. near 1021 -
1018.30 area.
Sell stop at 1016 for obj. near 1013.80 -
1010.50 area.
Sell stop at 1007 for obj. near 1005 - 1004.50
area and possibly near 1003.
Bulletin - (Originally sent 9/04/03 9:37 am est)
Long positions were taken on the
opening at 1024.70. Because of the narrow neutral
conditions, rallies up to 1026.50 are near enough to 1027.50
for traders to consider taking profits. (Continue to use a
sell stop and rev. short at 1023.30).
Bulletin - (Originally sent 9/04/03 9:45 am est)
The market failed to hold the 1024.50
intra-day channel support, with rallies only reaching 1026.
It is recommended for traders to exit
the long positions at 1025 and scratch the trade.
Bulletin - (Originally sent 9/04/03 10:18 am est)
Short positions were taken at 1028.50.
The sell-off down to 1025.50 is near enough to the 1025 obj. and
completes the trade.
Bulletin - (Originally sent 9/04/03 10:33 am est)
The sell stop was hit at 1023.30
putting traders into short positions. The sell-off down to
1021.80 meets the obj. and completes the trade.
Results: 09/04/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S &
P - For Friday
09-05-03 : 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 -
1028.90 peak also 1029.20 and 1029.50 day tops (major
area) / 1038 day top and 1039 daily upper channel (major
area) / 1042.20 monthly channel and 1044 weekly top (very
major area) / 1053 day top (major)
/ 1061.50 weekly top and gap (major area) /
1067.50 monthly closing price (very
major area) / 1071 monthly top (major
area) / 1082.40 weekly closing price and 1086.80
weekly top (major area).
Support: For
the Sept. contract -
1027 and 1026.70 intra-day channels also 1026.50 and 1026 base
(major area) / 1024 intra-day channel and
1023.50 base (major area) / 1021.80 day
bottom and 1020.20 GBX bottom (major area) /
1018 day channel (very major
area) / 1015 day channel and 1013 minor day
channel (very major area)
/ 1007.70 weekly closing price and 1004.50 weekly bottom (major
area) / 999 day channel with GBX prices and 999 day
bottom (very major area)
/ 992 long-term major day channel also 990.60 and 990.50 major
weekly channels also 989.80 minor weekly channel (very
major area) / 982.50 weekly bottom and 979.50
day bottom (major area).
Comments:
Thursday's trading range remained inside
the neutral area but managed to close up on the day leaving
the chart neutral to bullish but defensive for whiplashing.
A trade above 1029.50 - 1030.50 can challenge the 1038 -
1042.20 area. A trade below 1018 - 1015 area can
challenge the 1004.50 - 999 area. Remain defensive
inside the wide weekly trading area between 1042.20 - 999 area
and inside the first neutral area between 1030.50 - 1018 area.
Day
trades: For The Sept. contract -
Aggressive traders can buy dips near 1024 -
1023.50 area or sell rallies near 1028 - 1030 area, whichever
side comes first to complete the trade. (Use a
protective sell stop at 1020. Do not rev. long).
(Use a buy stop and rev. long at 1031.30).
Aggressive traders can buy dips near 1018 -
1015 area for obj. near 1022 - 1024 area. (Use a sell
stop and rev. short at 1011).
Buy stop at 1031.30 for obj. near 1036 -
1038.
Buy stop at 1045.70 for obj. near 1048 -
1053.
Sell stop at 1011 for obj. near 1008 -
1005.50 area.
Sell stop at 997.30 for obj. near 993 -
990.50 area.
Bulletin - (Originally sent 9/05/03 10:01 am est)
Long positions were taken on the
opening at 1023. Use an obj. to exit at 1026.
(Continue to use a protective sell stop at 1020).
1018 - 1015 is a very significant
support area and should be considered a buy if the market
reaches that level.
Bulletin - (Originally sent 9/05/03 10:04 am est)
Long positions were taken at 1023.
The rally up to 1026 meets the obj. and completes the trade.
Bulletin - (Originally sent 9/05/03 10:44 am est)
The rally up to 1027.70 brought
prices up to the sell area near 1028 putting traders into short
positions.
The sell-off down to 1025.50 is near
the 1024 obj. and completes the trade.
Bulletin - (Originally sent 9/05/03 1:19 pm est)
The sell off down to 1018.50 put
traders into long positions. The rally up to 1021.80 is
near enough to the 1022 obj. and completes the trade.
Results: 09/05/03
The week in review
- 09/08/03 -
09/12/03
The Tech Guru's
S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P - For Monday
09-08-03 : NOTE: After
each support and resistance listed will designate a value - (very major)
holds the highest importance, then (major), (very significant), and
(significant) is of the least value. Very
aggressive trades - are trades that are against the
trend or a high dollar risk when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell stop inside a buy
area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter or complete
a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where stops ARE NOT
mentioned, they should be placed below the second support area
listed or above the second resistance area listed, or 22
points from the (trade entry point), whichever is the lesser
amount. NOTE: The first
support area becomes the resistance after the market trades
through the second support area listed. The first
resistance area becomes the support after the market trades
through the second resistance area listed.
Resistance: For
the Sept. contract -
1025.20 peak and 1026.30 newly developed major long-term weekly channel (very
major area) / 1027.10 and 1028.90 newly developed weekly
channels also 1029 peak and 1029.50 weekly top (very
major area) / 1038 day top and 1038.20 minor weekly
upper channel (major area) / 1042 weekly upper channel
and 1042.20 monthly down channel also 1044 weekly top (very
major area) / 1053 day top (major) /
1061.50 weekly top and gap (major area) / 1067.50
monthly closing price (very major area)
/ 1071 monthly top (major area) / 1082.40 weekly
closing price and 1086.80 weekly top (major area).
Support: For
the Sept. contract -
1022.20 and 1022.10 day channels and 1020.90 intra-day channel (major
area) / 1018.50 day channel and 1017.70 day bottom also 1015.50
day channel (very major area)
/ 1007.70 weekly closing price (major) / 1004.50 weekly
bottom and 1001 day channel with GBX prices (major area)
/ 998.70 major long-term weekly channel and 998.50 weekly channel also
997 weekly channel (very major area)
/ 994 long-term day channel (very major
area) / 990.50 day bottom and 990 GBX channel (major
area) / 982.50 weekly bottom and 980 weekly channel (very
major area) / 979.50 and 978.80 day bottoms also 978 day
channel and 978 weekly closing price (very
major area).
Comments:
The sell-off on Friday from the double top area was
significant but managed to hold above the day channel support leaving
the chart neutral inside the 1026.30 - 1018.50 area. A trade
above 1026.50 - 1029.50 can challenge the 1038 - 1042.20 area. A
trade below 1018.50 - 1015.50 can challenge the 1004.50 - 998.70 area.
Remain defensive inside the weekly trading range between 1042.20 -
998.70 area and inside the first neutral range between 1026.30 -
1018.50 area.
Day trades:
For The Sept. contract -
Aggressive traders can sell rallies near 1025 - 1026.30
area or buy dips near 1022.50 - 1020.90, whichever side comes first to
complete the trade. (Use a buy stop and rev. long at 1031).
(Use a sell stop and rev. short at 1014).
Aggressive traders can sell rallies near 1038 - 1042
area for obj. near 1034 - 1031 area. (Use a buy stop and rev. long
at 1045.70).
Aggressive traders can buy dips near 1001 - 998.70 for
obj. near 1004 - 1007 area. (Use a protective sell stop at 996.
Do not rev. short).
Buy stop at 1031 for obj. near 1036 - 1038 area and
possibly near 1042.20).
Buy stop at 1045.70 for obj. near 1049 - 1053 area.
Sell stop at 1014 for obj. near 1007 - 1004.50 area and
possibly near 1001.
Sell stop at 987 for obj. near 983 - 980 area.
Bulletin - Originally sent 09/08/03 (9:52 am est)
Long positions were taken at 1022.50 -
1023.50 area. The rally up to 1025 - 1026.50 area meets the obj.
and completes the trade.
Bulletin - Originally sent 09/08/03 (9:54 am est)
Because of the significance of the resistance
at 1027.10 and 1028.90, traders can attempt short positions at this level.
Aggressive traders can sell near 1027 - 1028 area for obj. near 1024.50 -
1022.50 area. (Use a buy stop and rev. long at 1031).
Bulletin - Originally sent 09/08/03 (10:02 am est)
The rally up to 1028.50 put traders into short
positions. The buy stop at 1031 was not hit, keeping the short
position intact. Traders using the E-mini buy stop at 1031 should
re-enter short positions using a buy stop at 1031.75.
Bulletin - Originally sent 09/08/03 (10:34 am est)
The buy stop was hit at 1031 putting traders
into long positions. The obj remains at 1036 - 1038 are. (Use
a protective sell stop for long positions at 1024. Do not rev
short).
Bulletin - Originally sent 09/08/03 (11:25 am est)
Long positions were taken at 1031. The
intra-day double top can prove to be resistance for some retracements.
Exit long positions at the market, which is
trading at 1030.50 - 31.50 area and scratch the trade.
Results: 09/08/03
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P - For Tuesday
09-09-03 : 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 Sept. contract -
1031.90 and 1032 peaks also 1032.70 day top (major area)
/ 1038 day top and 1038.10 daily upper channel also 1038.20 minor
weekly upper channel (very major area)
/ 1042 weekly upper channel and 1042.20 monthly down channel also 1044
weekly top (very major area)
/ 1053 day top (major) / 1061.50 weekly top and gap (major
area) / 1067.50 monthly closing price (very
major area) / 1071 monthly top (major area)
/ 1082.40 weekly closing price and 1086.80 weekly top (major
area).
Support: For
the Sept. contract -
1029.20 intra-day channel and 1028 double base (major area)
/ 1026.90 day channel also 1025.70 and 1025.50 day channels also
1024.90 minor day channel (very major
area) / 1023.30 day bottom also 1022.50 intra-day
channel and 1022.30 day gap (major area) / 1018.20
minor day channel and 1017.70 day bottom (very
major area) / 1007.70 weekly closing price (major
area) / 1004.50 weekly bottom and 1003.50 day channel with
GBX prices (very major area)
/ 999 day bottom and 998.70 major long-term weekly channel also 998.50
and 997 weekly channels (very major
area).
Comments:
The rally on Monday from the support area managed
to close the day session at it's highest closing price in over a year,
leaving the chart in bullish territory. The 1038 - 1042.20
resistance will play an important signal for possible
retracements lower or higher prices, it is now considered the very
major resistance. A trade above 1042.20 will be considered a
breakout for higher prices to follow. A trade today below
1025.70 - 1024.90 area is slightly bearish but only a trade below
998.70 can bring any solid bearishness back to the chart and can
reverse the trend down. Remain defensive inside the
1038 - 1042.20 resistance area and 1029.20 - 1025.70 support area.
Day trades:
For The Sept. contract -
Aggressive traders can buy dips near 1027.50 -
1025.70 area for obj. near 1033 and possibly near 1035 area.
(Use a protective sell stop at 1024.50. Do not rev. short).
Aggressive traders can sell rallies near 1038 and if
possible near 1042 area for obj. near 1034 - 1032 area. (Use a
buy stop and rev. long at 1045.70).
Buy stop at 1045.70 for obj. near 1048 - 1053 area.
Sell stop at 1015 for obj. near 1012 - 1010 area and
possibly near 1007.70.
Results: 09/09/03
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P -
For Wednesday
09-10-03 : 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 Sept. contract -
1024.50 intra-day channel and 1024.70 gap also 1025.50 intra-day
channel and peak (major area) / 1028.80 peak and
1028.30 day top (major area) / 1030.60 day gap and
1031.90 peak (major area) / 1032.50 day top and
1034.60 GBX top (major area) / 1038 day top and
1040 daily upper channel (major area) / 1042.20
monthly channel and 1044 weekly top (very
major area) / 1053 day top (major)
/ 1061.50 weekly top and gap (major area).
Support: For
the Sept. contract -
1023.90 rev. day channel and 1022.30 minor day channel (major
area) / 1021 minor day channel also 1020.80 day bottom and
1017.70 day bottom (very major area)
/ 1007.70 weekly closing price (major area) / 1005
day channel with GBX prices and 1004.50 weekly bottom (very
major area) / 999 day bottom and 998.70 major
long-term weekly channel also 998.50 and 997 weekly channels (very
major area).
Comments:
The sell-off and close on
Tuesday removed some of the bullishness from the chart leaving it in
neutral condition between 1032.50 - 1017.70 trading range. A
trade above 1032.50 can challenge the 1038 - 1042.20 resistance,
which can prove to stimulate selling pressure if it gets there.
A trade below 1017.70 can bring prices down to challenge the 1005 -
1004.50 area and possibly near the major weekly support channel at
998.70. Remain defensive inside the 1032.50 - 1017.70 trading
area until a breakout is seen to either side.
Day trades:
For The Sept. contract -
Aggressive traders can buy dips near 1021 - 1017.70
area for obj. near 1024 - 1026 area. (Use a sell stop and rev.
short at 1015).
Aggressive traders can sell rallies near 1030.60 -
1032.50 area for obj. near 1027.50 - 1025.50 area. (Use a buy
stop and rev. long at 1033).
Sell stop at 1015 for obj. near 1007.50 - 1005
area.
Buy stop at 1033 for obj. near 1038 - 1040 area and
possibly near 1042.20.
Aggressive traders can attempt short positions near
1040 - 1042.20 area for obj. near 1034 - 1031 area. (Use a buy
stop and rev. long at 1045.70).
Buy stop at 1045.70 for obj. near 1048 - 1053 area.
Bulletin - Originally sent 09/10/03 (1:54 pm est)
The intra-day chart formation is proving the 1015.30 can be a
double bottom support.
It is recommended to cancel the sell stop at 1015. Use a
1014 sell stop and rev short.
Results: 09/09/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S &
P - For Thursday
09-11-03 : 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 Sept. contract -
1013.80 GBX channel and 1014.70 day channel (major
area) / 1016.20 intra-day channel and 1017.50 peak (major
area) / 1019.80 peak and 1020.10 minor day channel
with GBX prices and 1021.50 day top (very
major area) / 1024 day gap and 1024.20 GBX top
(major area) / 1026.80 peak and 1028.20 day
top (major area) / 1030.60 day gap and
1031.90 peak also 1032.50 day top (very major area)
/ 1034.60 GBX top (major) / 1035.90 upper
channel with GBX prices and 1038 day top (major area)
/ 1042.20 monthly channel and 1044 weekly top (very
major area).
Support: For
the Sept. contract -
1011.70 and 1010.10 day channels also 1009.30 day bottom (major
area) / 1007.70 weekly closing price and 1007.40 day
channel with GBX prices (very
major area) / 1004.50 weekly bottom (major
area) / 999 day bottom and 998.70 major long-term
weekly channel also 998.50 and 997 weekly channels (very
major area) / 994.50 long-term day channel and 992.50
weekly closing price (very major
area) / 990.50 weekly closing price and day
bottom (major area).
Comments:
The sell-off on Wednesday brought prices
down near a weekly closing price, which is support and can
possibly stimulate some rallies. A trade above 1020.10 -
1021.50 is bullish and can bring prices up to challenge
the 1028.30 top and 1030.60 gap area. A trade today
below 1007.70 - 1007.30 area is bearish and can bring prices
down to possibly challenge the 998.70 major weekly support
channel, which will still considered a buying area for
this week only. Remain defensive inside the first
neutral area between 1016.20 and 1011.70 trading area.
Day
trades: For The Sept. contract -
Aggressive traders can sell rallies near 1015
- 1016.20 area or buy dips near 1013 - 1010 area, whichever
side comes first to complete the trade. (Use a
protective buy stop at 1017.70. Do not rev. long).
(Use a protective sell stop at 1006.70. Do not rev.
short).
Buy stop at 1022 for obj. near 1024 - 1026
area.
Buy stop at 1034 for obj. near 1038 - 1042
area.
Sell stop at 994 for obj. near 992 - 990.50
area.
Sell stop at 988 for obj. near 984 - 982.50
area.
Bulletin - Originally sent 09/11/03 (11:44 am est)
Short positions were taken at 1016. The buy
stop was hit at 1017.70 for a loss.
The sell-off down to 1012.50 put traders into
long positions. The rally up to 1016.50 meets the obj. and
completes the trade.
Results: 09/11/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Friday
09-12-03 : 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 Dec. contract -
1016 peak also 1016.40 and 1016.60 day channels (major
area) / 1019.90 and 1019.80 double top area to
1022.50 day gap (major area) / 1026.50 day
top (major) / 1029.10 day gap and 1030.30
day top (very major area)
/ 1032 upper channel (major area) / 1042.20
monthly channel and 1043.30 daily upper channel (very
major area) / 1060.50 day top (major)
/ 1069 weekly top and gap (very
major area).
Support: For
the Dec. contract -
1013.90 minor day channel and 1012.30 day channel (major
area) / 1010.70 day bottom (major)
/ 1008.80 minor day channel and 1007.50 day bottom also
1006.10 monthly closing price (very
major area) / 1003.50 weekly bottom (major)
/ 1002.30 long-term day channel and 1001.50 day channel (very
major area) / 998.70 major long-term weekly
channel also 998.50 and 997 weekly channels (very
major area) / 989.50 day bottom (major)
/ 980.80 weekly bottom (very
major area).
Comments:
Thursday's trading session remained
inside the neutral area leaving the chart neutral again
inside a narrow trading range between 1016.60 and 1012.30
area. A trade above 1016.60 is slightly bullish and
can challenge the 1026.50 - 1029.10 gap area. A trade
below 1012.30 - 1007.50 area can bring prices down to
challenge the 1003.50 - 1001.50 area. Remain defensive
inside the first neutral area between 1016.60 and 1012.30
until the market can prove a direction.
Day
trades: For The Dec. contract -
Aggressive traders can buy dips near
1012.50 - 1010.70 area or sell rallies near 1015 - 1016.60,
whichever side comes first to complete the trade. (Use
a sell stop and rev. short at 1007). (Use a buy stop
and rev. long at 1022.70).
Sell stop at 1007 for obj. near 1003.50 -
1001.50 area.
Sell stop at 995 for obj. near 990.50 -
989.50 area.
Buy stop at 1022.70 for obj. near 1025 -
1026 area and possibly near 1029.10 gap.
Buy stop at 1033.70 for obj. near 1038 -
1042 area.
Results: 09/12/03
The week in review
- 09/15/03
- 09/19/03
The Tech Guru's
S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P -
For Monday
09-15-03 : NOTE: After
each support and resistance listed will designate a value - (very
major) holds the highest importance, then (major), (very
significant), and (significant) is of the least value. Very
aggressive trades - are trades that are against the
trend or a high dollar risk when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell stop inside a buy
area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter or
complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where stops ARE
NOT mentioned, they should be placed below the second
support area listed or above the second resistance
area listed, or 22 points from the (trade entry point),
whichever is the lesser amount. NOTE: The
first support area becomes the resistance after the
market trades through the second support area
listed. The first resistance area becomes the support
after the market trades through the second resistance area
listed.
Resistance: For
the Dec. contract -
1016.70 minor day channel (major area) / 1018.30
and 1019.90 day tops also 1020 rev. channel (major area)
/ 1022.50 day gap (major) / 1026.50 day top and
1027.70 long-term day channel (very
major area) / 1029.10 day gap and 1030.30 weekly top
(major area) / 1031.40 newly developed long-term
weekly channel also 1032.20 and 1032.80 weekly chart's channels (very
major area) / 1042.20 monthly channel and 1045.50
day top also 1044.10 and 1046.80 Dec. chart's upper channels (very
major area) / 1060.50 day top (major)
/ 1069 weekly top and gap (very major
area).
Support: For
the Dec. contract -
1016 intra-day channel and 1015.50 base also 1015.20 rev. day
channel (major area) / 1011.30 base and 1010
intra-day channel (major area) / 1008.50 and
1007.80 base also 1007.40 day channel (major area)
/ 1006.70 and 1006.50 weekly channels also 1004.20 weekly channel
and 1004 long-term day channel (very
major area) / 1003.50 weekly bottom and 1003.10 day
channel (very major area)
/ 998 day bottom (major) / 989.50 day bottom (major)
/ 982.60 day channel (very major area).
Comments:
The rally on Friday from the support level
managed to close up for the second day in a row, but closed the end
of the week down from the previous week. This leaves
the chart neutral inside a wide weekly range between 1027.70
and 1003.10. Remain defensive inside the first neutral range
between 1020 and 1010 until a trade to either side can develop.
Day trades:
For The Dec. contract -
Aggressive traders can sell rallies near 1016.70 -
1020 area or buy dips near 1011.30 - 1010 area, whichever side comes
first to complete the trade. (Use a buy stop and rev. long at
1023.50). (Use a protective sell stop at 1009. Do not
rev. short).
Aggressive traders can attempt long positions near
1007.40 - 1004 area and if possible near 1003.10 for obj. near 1010
- 1012.50 area and possibly near 1014. (Use a sell stop and
rev. short at 1000).
Buy stop at 1023.50 for obj. near 1026 - 1026.50
top area and possibly near 1029.10 gap.
Buy stop at 1033.50 for obj. near 1038 - 1042 area.
Sell stop at 1000 for obj. near 996 - 993 area.
Sell stop at 986.50 for obj. near 983.50 -
982.60 area.
Bulletin - (Originally sent 9/15/03 11:10 am est)
Short positions were taken on the opening at
1017.30. The sell-off down to 1012.50 is near enough to the 1011.30
obj. and completes the trade.
Results: 09/15/03
A TECHNICAL GUIDE FOR DAY TRADING
THE S & P
S & P - For Tuesday
09-16-03 : 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 Dec. contract -
1013.40 intra-day channel also 1013.50 and 1013.80 peaks (major
area) / 1014.40 peak and 1015.50 day channel also 1016.30 day
channel (major area) / 1018 day top and 1018.60 GBX also
1019.90 double top and 1020 weekly rev. channel (major area)
/ 1022.50 day gap (major) / 1026.50 day top and 1027.20
long-term major day channel (very major
area) / 1029.10 day gap and 1030.30 weekly top (major
area) / 1031.40 long-term weekly channel and 1032.20 weekly
channel also 1032.80 weekly channel (very
major area) / 1036.40 and 1037.10 weekly upper channels (major
area) / 1042.20 monthly channel and 1044.10 weekly upper channel (very
major area) / 1045.50 day top and 1046.80 minor weekly
upper channel also 1047.70 daily upper channel (very
major area) / 1060.50 day top (major) /
1069 weekly top and gap (very major area).
Support: For
the Dec. contract -
1011.60 day bottom and 1011.30 base (major area) / 1009
day channel also 1008.50 and 1007.80 base (major area) /
1006.70 long-term weekly channel and 1006.50 weekly channel also 1005.60
long-term day channel and 1004.70 day channel (very
major area) / 1003.50 weekly bottom (major)
/ 998 day bottom and 994 day session closing prices (major)
/ 989.50 day bottom (major) / 984.30 weekly channel and
983 day channel (very major area)
/ 980.80 weekly bottom (major area).
Comments:
Monday's trading session remained inside the first
neutral area leaving the chart neutral again inside a narrow range between
1016.30 and 1009. The weekly trading range has the resistance at
1027.20 - 1032.80 area and the support at 1006.70 - 1004.20 area. A
breakout to either side of this weekly range can possibly prove to point
the direction. Remain defensive inside the first neutral range
between 1016.30 - 1009.
Day trades:
For The Dec. contract -
Aggressive traders can sell rallies near 1014 - 1016.30
area and if possible near 1017.80 for obj. near 1011 - 1009 area.
(Use a buy stop and rev. long at 1020.30).
Aggressive traders can buy dips near 1006.70 - 1004.20
area for obj. near 1010 - 1011.50 area. (Use a sell stop and rev.
short at 1001).
Buy stop at 1020.30 for obj. near 1022.50 gap and
possibly near 1024 - 1026 area.
Sell stop at 1001 for obj. near 998 - 994 area.
Sell stop at 987.50 for obj. near 984.50 - 983 area.
Bulletin - (Originally sent 9/16/03 10:42 am est)
The buy stop was hit at 1020.30 putting traders
into long positions. The technical formation is showing signs of
resistance at this time making the long positions defensive.
It is recommended to exit the long position at
the market, which is trading at 1019.50 and cut losses.
Results: 09/16/03
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P - For Wednesday
09-17-03 : 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 Dec. contract -
1029.10 gap and 1030.30 weekly top (very
major area) / 1031.40 long-term weekly channel and
1032.20 weekly channel also 1032.70 weekly chart's top and 1032.80
weekly channel (very major area)
/ 1034.60 GBX weekly chart's top (major) / 1036.40 and
1037.10 weekly chart's upper channel (major area) /
1042.20 monthly channel and 1044.10 weekly upper channel (very
major area) / 1045.50 day top and 1046.80 minor weekly
upper channel (major area) / 1049.90 daily upper
channel (major) / 1060.50 day top (major)
/ 1069 weekly top and gap (very major
area).
Support: For
the Dec. contract -
1023.20 and 1023 base (major area) / 1018.20 day
channel and 1017.50 base (major area) / 1015.80 base
and 1015.50 day channel with GBX prices also 1014 day bottom (major
area) / 1012.60 day gap and 1012.10 GBX bottom also 1011.60 day
bottom and 1011.20 day channel (very major
area) / 1007.30 long-term day channel and 1006.70 major
weekly channel also 1006.50 weekly channel and 1006.30 day channel (very
major area) / 1004.20 minor weekly channel and 1003.50
weekly bottom (major area) / 998 day bottom (major)
/ 994 day session closing price (major) / 989.50 day
bottom (major) / 984.30 weekly channel also 984 day
channel (very major area) /
980.80 weekly bottom (major area).
Comments:
The rally on Tuesday brought prices up to the very
major resistance area at 1030.30 top and 1032.80 weekly channel, which
can possibly stimulate some selling for retracements to the
downside. A trade above 1030.30 - 1032.80 area can bring prices up
to challenge the 1042.20 monthly channel. A trade above 1042.20 -
1044.10 area will be considered a breakout for higher prices to
follow. A trade below 1018.20 - 1015.50 area and 1011.20 is
slightly bearish but only a trade below 1007.30 - 1006.30 area can
bring any solid bearishness back to the chart and can possibly reverse
the trend down. Remain defensive inside the 1030.30 - 1018.20
neutral trading area.
Day trades:
For The Dec. contract -
Aggressive traders can sell near 1026 - 1028 and if
possible near 1030.30 for obj. near 1023.50 - 1021 area. (Use a
buy stop and rev. long at 1033.50).
Aggressive traders can buy dips near 1016.50 - 1015.50
area for obj. near 1021 - 1023 area. (use a sell stop and rev.
short at 1010).
Buy stop at 1033.50 for obj. near 1036.50 - 1037 area.
Buy stop at 1038.50 for obj. near 1042 - 1044 area.
Sell stop at 1010 for obj. near 1007.50 - 1006.50 area.
Sell stop at 1001 for obj. near 998.50 - 996.50 area.
Bulletin - (Originally sent 9/17/03 1:49 pm est)
Short positions were taken at 1027 and 1029.30. The sell-off down
to 1024 is near enough to the 1023.50 obj. to exit short positions and
take profits. This completes the first trade.
Results: 09/17/03
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P -
For Thursday
09-18-03 : 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 Dec. contract -
1026 and 1027.20 peaks (major) / 1029.30 peak and
1029.80 day top also 1030.30 weekly top (very
major area) / 1031.40 long-term weekly channel and
1032.20 weekly channel also 1032.70 weekly chart's top and 1032.80
weekly channel (very major area)
/ 1034.60 GBX weekly chart's top (major) /
1036.40 and 1037.10 weekly chart's upper channel (major
area) / 1042.20 monthly channel and 1044.10 weekly upper
channel (very major area)
/ 1045.50 day top and 1046.80 minor weekly upper channel (major
area) / 1052.10 daily upper channel (major)
/ 1060.50 day top (major) / 1069 weekly top and
gap (very major area).
Support: For
the Dec. contract -
1024 intra-day channel and 1023.70 base (major area) /
1022.50 day channel and 1022.40 day bottom (very
major area) / 1018.80 minor
day channel and 1018.70 minor day channel with GBX prices (major
area) / 1014 day bottom and 1013.10 day channel also
1021.60 day gap and 1012.10 GBX bottom and 1011.60 day bottom (very
major area) / 1008.90 long-term day channel and
1007.90 major day channel also 1006.70 major weekly channel
and 1006.50 weekly channel (very
major area) / 1005.50 weekly bottom and 1004.20
minor weekly channel also 1003.50 weekly bottom (very
major area) / 998 day bottom (major)
/ 994 day session closing price (major) / 989.50
day bottom (major) / 985.20 day channel and
984.30 weekly channel (very major
area) / 980.80 weekly bottom (major area).
Comments:
The whiplashing action on Wednesday inside
the neutral area leaves the chart neutral for today inside
the 1032.80 - 1022.50 area. A trade above the 1032.80 can
bring prices up to challenge the 1036.40 - 1037.10 upper channel and
possibly near 1042.20 monthly channel. A trade below 1022.40 -
1018.70 area can bring prices down to challenge the 1013.10 -
1012.10 area and possibly near the 1006.50 weekly channel.
Remain defensive inside the first neutral area between 1032.80 and
1018.80.
Day trades:
For The Dec. contract -
Aggressive traders can sell rallies near 1026 -
1029 area or buy dips near 1024 - 1022.50 area, whichever side comes
first to complete the trade. (Use a buy stop and rev. long at
1033.70). (Use a sell stop and rev. short at 1021).
Buy stop at 1033.70 for obj. near 1036 - 1037 area.
Buy stop at 1038 for obj. near 1041 - 1042 area.
Sell stop at 1021 for obj. near 1019 - 1018.70
area.
Sell stop at 1017 for obj. near 1014 - 1013.10 area
and possibly near 1012.60 day gap.
Sell stop at 1001 for obj. near 998 - 995 area.
Bulletin - (Originally sent 9/18/03 9:47 am est)
Short positions were taken at 1026. The sell-off down to 1024
meets the obj. and completes the trade.
Bulletin - (Originally sent 9/18/03 9:51 am est)
Long positions were taken at 1024. The rally up to 1026
meets the obj. and completes the trade.
Bulletin - (Originally sent 9/18/03 11:53 am est)
The buy stop was hit at 1033.70 putting traders into long
positions. The rally up to 1035.20 was near enough to 1036
and completes the trade.
Traders still holding long positions should exit because of the
possibility of retracements to the downside due to the
significance of this area.
Bulletin - (Originally sent 9/18/03 1:01 pm est)
The intra-day double top at 1035 is showing signs of resistance
for a possible retracement to the downside.
It is recommended for traders to sell the Dec. S & P near 1035
- 1034.50 level for an obj. near 1023 - 1021 area and possibly
near 1018.70. (Use a buy stop and rev. long at 1038).
Bulletin - (Originally sent 9/18/03 1:52 pm est)
The rally on the big S & P hit 1037.80, but the E-mini reached
1039.75. Traders should not be long at this time. Long
positions should exit due to the tremendous resistance at 1042.20.
Long-term position traders can attempt short positions in this
area between 1035 and 1040. (Use a protective buy stop at
1046.50).
Bulletin - (Originally sent 9/18/03 1:53 pm est)
Because of the significance of the resistance, and the action seen
on the intra-day scale, the 1038 buy stop is now cancelled.
Short positions must use a protective buy stop at 1046.50.
Results: 09/18/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S &
P - For Friday
09-19-03 : 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 Dec. contract -
1038.50 day top and 1039.50 major long-term daily chart's
upper channel (very major area)
/ 1042.20 monthly down channel and 1044 weekly top also
1044.10 weekly upper channel and 1045.50 day top (very
major area) / 1054 upper day channel (major
area) / 1060.50 day top (major) /
1067.50 weekly closing price and 1069 Dec. contract's weekly
top also 1071 weekly chart's top (very
major area) / 1079 day top (major
area) / 1082.40 weekly closing price and 1086.80
weekly chart's top (very major
area) / 1096 weekly and monthly closing price (very
major area) / NOTE:
1153.35 and 1170.50 are the 50% retracement areas from the
1540.50 and 1574 historic tops.
Support: For
the Dec. contract -
1035.50 base and 1035.30 base (major area) /
1033 base and 1032 base (major area) /
1030.50 and 1030.30 base also 1028.50 base and 1028.50 day
channel (major area) / 1023.70 and 1022.50
day bottoms also 1022 day channel with GBX prices (very
major area) / 1015 day channel and 1014 day
bottom (major area) / 1012.60 day gap and
1012.10 GBX bottom also 1011.60 day bottom and 1010.60
long-term major day channel (very
major area) /1006.70 major weekly channel and
1006.50 weekly channel (very
major area) /1005.50 weekly bottom and 1004.20
minor weekly channel also 1003.50 weekly bottom
(very major area).
Comments:
The rally on Thursday brought prices up
near the major daily upper channel, which today is at 1039.50,
that can stimulate selling pressure. A trade above
1039.50 and 1042.20, which is the major monthly channel, will
be considered a breakout for higher prices to follow. A
trade below the 1028.50 channel can challenge the 1022 day
channel support. A trade below 1022 is bearish and can
bring prices down near the 1015 channel and possibly near the
1010.60 major day channel. NOTE:
Only a trade below the
1010.60 and 1006.50 weekly channels can be bearish enough to
possibly reverse the trend to the downside. Remain
defensive at this critical resistance and the trading range
between 1039.50 - 1042.20 resistance and 1028.50 - 1022
support.
Day
trades: For The Dec. contract -
Aggressive traders can sell rallies near 1038
- 1042 area for obj. near 1034 - 1032 area. (Use a buy
stop and rev. long at 1047).
Aggressive traders can buy dips near 1029 -
1028.50 area for obj. near 1032 - 1034 area. (Use a sell
stop and rev. short at 1026).
Buy stop at 1047 for obj. near 1051 - 1054
area.
Sell stop at 1026 for obj. near 1023.70 -
1022 area.
Sell stop at 1019 for obj. near 1016 - 1015
area and possibly near 1012.60 gap.
Bulletin - (Originally sent 9/19/03 9:59 am est)
Short positions were taken at 1038. The sell off down to
1034 meets the obj. and completes the trade.
Bulletin - (Originally sent 9/19/03 2:25 pm est)
The sell off down to 1029.50 is near enough to the buy area at
1029, putting traders into long positions. The obj. still
remains at 1032 - 1034 area. (Continue to use a sell stop
and rev. short at 1026).
Bulletin - (Originally sent 9/19/03 2:42 pm est)
Long positions were taken at 1029.50. The rally up to
1031.50 is near enough to the 1032 obj. and completes the trade.
Results: 09/19/03
The week in review
-
09/22/03 - 09/26/03
The Tech Guru's
S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P - For Monday
09-22-03 : NOTE: After
each support and resistance listed will designate a value - (very
major) holds the highest importance, then (major), (very significant),
and (significant) is of the least value. Very
aggressive trades - are trades that are against the
trend or a high dollar risk when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell stop inside a buy
area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter or
complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where stops ARE NOT
mentioned, they should be placed below the second support
area listed or above the second resistance area listed,
or 22 points from the (trade entry point), whichever is the
lesser amount. NOTE: The
first support area becomes the resistance after the market
trades through the second support area listed.
The first resistance area becomes the support after the market
trades through the second resistance area listed.
Resistance: For
the Dec. contract -
1035.30 intra-day channel and 1035.50 peak also 1035.80 major
long-term weekly channel (very major
area) / 1036.70 weekly channel also 1037.20 weekly
channel and 1037.50 peak (very major
area) / 1038.30 weekly top and 1039 GBX weekly top (major
area) / 1042.20 monthly channel and 1044.10 weekly top also
1043.40 and 1044.80 weekly upper channels (very
major area) / 1045.50 day top and 1046.30 minor weekly
upper channel (major area) / 1055.45 weekly
channel and 1056 upper day channel (very
major area) / 1060.50 day top (major)
/ 1067.50 weekly closing price and 1069 Dec. contract's weekly top
also 1071 weekly chart's top (very major
area).
Support: For
the Dec. contract -
1031 and 1030.50 intra-day channel (major) / 1029.50
day bottom (major) / 1025.30 minor day channel and
1023.70 day bottom also 1023.80 weekly channel (very
major area) / 1022.40 day bottom also 1021.30 and
1019.50 minor weekly channels (major area) / 1017.50
and 1016.50 base also 1016.90 day channel (major area)
/ 1014.80 and 1014.50 major weekly channels also 1014 day bottom and
1013.50 weekly channel (very major area)
/ 1012.20 major day channel and 1012.10 day gap also 1011.50 weekly
channel (very major area)
/ 1007.50 weekly chart's bottom and 1005.50 weekly bottom (major
area) / 1004.50 weekly chart's bottom and 1003.50 weekly
bottom (major area) / 998 day bottom (major)
/ 989.50 day bottom and 988.60 weekly channel (very
major area).
Comments:
Friday's trading range remains inside the neutral
area. The market closed down for the day but managed to close up
for the weekly, leaving the chart neutral to slightly bullish. A
trade above the 1042.20 monthly channel and 1044.80 channel will be
considered a breakout for higher prices. A trade today below
1025.30 - 1023.80 area is slightly bearish but only a trade below the
1014.80 and 1011.30 weekly channels can bring any solid bearishness
back to the chart. Remain defensive inside the first
neutral range between 1035.80 - 1037.20 resistance and 1025.30 -
1023.50 support. Also remains defensive inside the weekly
trading range between 1042.20 and 1014.80.
Day trades:
For The Dec. contract -
Aggressive traders can buy dips
near 1026 - 1023.50 area for obj. near 1030 - 1031 area. (Use a
sell stop and rev. short at 1022.30).
Aggressive traders can sell rallies near 1034 - 1037
area for obj. near 1030 - 1027 area. (Use a buy stop and rev.
long at 1039.70).
Aggressive traders can sell rallies near 1042 - 1044
area for obj. near 1039 - 1037.50 area. (Use a buy stop and rev.
long at 1049.50).
Aggressive traders can buy dips near 1016 - 1014.80
area for obj. near 1021 - 1023 area. (Use a sell stop and rev.
short at 1010.50).
Buy stop at 1039.70 for obj. near 1042 and possibly
near 1044 area.
Buy stop at 1049.50 for obj. near 1053 - 1055 area.
Sell stop at 1022.30 for obj. near 1019.50 - 1016.50
area.
Sell stop at 1010.50 for obj. near 1007.50 - 1005.50
area and possibly near 1003.50 bottom.
Sell stop at 1001 for obj. near 998 - 995 area and
possibly near 990 area.
Bulletin - Originally sent 09/22/03 (10:40 am est) Positions traders - The short position taken at 1038 from last week can now take profits. Exit the short position at the market, which is trading near 1021 area at this time. The market is showing signs of support at the 1017.70 area, which is near enough to the 1016 - 1014.80 major weekly support. If the 1014.80 support can hold this week it has the potential to bring prices above the 1040 area again. Bulletin - Originally sent 09/22/03 (10:51 am est) The sell-off down to 1017.70 was near enough to the 1016 buy area putting traders into long positions. The rally up to 1021 meets the obj. and completes the trade. NOTE: The 1014.80 is such a major weekly support that it will still be considered a buying area if it gets there today or any day this week. Continue to use a sell stop and rev. short at 1010.50. The day trade obj. will remain again at 1021 - 1024 area. Bulletin - Originally sent 09/22/03 (3:56 pm est) The sell-off down to the 1016 put traders into long positions. The rally up to 1021 meets the obj. and completes the trade. Results: 09/22/03
A TECHNICAL GUIDE FOR DAY TRADING
THE S & P
S & P - For Tuesday
09-23-03 : 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 Dec. contract -
1022.80 peak and 1024.60 GBX channel also 1025 day top (major
area) / 1028 rev. channel and 1029.50 rev. base (major
area) / 1031.80 GBX top also 1032.90 weekly closing gap (major
area) / 1035.80 major long-term weekly channel also 1036.70 and
1037.20 weekly channels (very major area)
/ 1038.30 weekly top and 1039 GBX weekly top (major area)
/ 1042.20 monthly channel and 1044.10 weekly top also 1043.40 and 1044.80
weekly upper channel (very major area)
/ 1045.50 day top and 1046.30 minor weekly upper channel (major
area) / 1055.40 weekly channel (major) / 1058
upper day channel and 1060.50 day top (major area) /
1067.50 weekly closing price and 1069 Dec. contract's weekly top also 1071
weekly chart's top (very major area).
Support: For
the Dec. contract -
1018.30 base and 1017.90 day channel also 1017.70 day channel (major
area) / 1016 day bottom and 1014.80 major weekly channel and
1014.50 weekly channel also 1013.90 major long-term day channel and
1013.50 weekly channel (very major area)
/ 1012.10 day gap and 1011.50 weekly channel (very
major area) / 1007.50 weekly chart's bottom (major)
/ 1005.50 weekly bottom and 1004.50 weekly chart's bottom also 1003.50
weekly bottom (major area) / 998 day bottom (major)
/ 989.50 day bottom and 988.60 weekly channel also 987.50 day channel (very
major area).
Comments:
The sell-off on Monday brought prices down near the
very major support area, which can stimulate buying, since the uptrend
still remains intact. Only a trade below the 1014.80 and 1011.50
channels can fail the major supports and can be the first signal for the
possibility of a reversal of the trend to the downside. A trade
below the 988.60 weekly channel will confirm the downtrend intact for
lower prices to follow. A trade today above the 1025 day top is
slightly bullish but a trade above 1035.80 - 1037.20 area will put the
chart back into bullish condition. A trade above 1042.20 - 1044.80
area will be considered a breakout for higher prices to follow.
Remain defensive inside the neutral area between 1025 and 1017.90 area and
also between the weekly trading range between 1037.20 and 1014.80.
Day trades:
For The Dec. contract -
Aggressive traders can buy
dips near 1018.50 - 1017.70 area and if possible near 1014.80 for obj.
near 1022 - 1024 area. (Use a sell stop and rev. short at 1010).
Aggressive traders can sell rallies near 1023 - 1024.60
area for obj. near 1021 - 1019.50 area. (Use a buy stop and rev.
long at 1025.70).
Aggressive traders can sell rallies near 1035 - 1037 area
for obj. near 1033 - 1031 area. (use a buy stop and rev. long at
1037.80).
Sell stop at 1010 for obj. near 1007.50 - 1005.50 area,
and possibly near 1004.
Sell stop at 1001 for obj. near 998 - 997 area.
Sell stop at 995 for obj. near 991 - 988.60 area.
Buy stop at 1025.70 for obj. near 1028 - 1029.50 and
possibly near 1032.90 gap.
Buy stop at 1037.80 for obj. near 1039 - 1041 area and
possibly near 1042.20.
Buy stop at 1049.50 for obj. near 1053 - 1055 area.
Bulletin - Originally sent 09/23/03 (9:42 am est) Short positions were taken at 1022.80, which was near enough to the 1023 sell area. The sell off down to 1021 meets the obj. and completes the trade. Bulletin - Originally sent 09/23/03 (9:47 am est) Aggressive traders can attempt long positions near 1021 - 1020 area instead of the 1018.50 area as seen in the report. The obj. is 1023 - 1024.60. Bulletin - Originally sent 09/23/03 (9:53 am est) Long positions were taken at 1021.20. The rally up to 1024 meets the obj. and completes the trade. Bulletin - Originally sent 9/23/03 (3:16 pm est) The buy stop was hit at 1025.70 putting traders into long positions. The rally up to 1028 meets the obj. and completes the trade. Results: 09/23/03
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P - For Wednesday
09-24-03 : 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 Dec. contract -
1028.50 intra-day channel and day top also 1029.50 rev base (major
area) / 1031.80 GBX top also 1032.90 weekly closing gap (major
area) / 1035.80 major long-term weekly channel also 1036.70
and 1037.20 weekly channels (very major
area) / 1038.30 weekly top and 1039 GBX weekly top (major
area) / 1042.20 monthly channel and 1044.10 weekly top also
1043.40 and 1044.80 weekly upper channel (very
major area) / 1045.50 day top and 1046.30 minor weekly
upper channel (major area) / 1055.40 weekly channel (major)
/ 1060 upper day channel and 1060.50 day top (major area)
/ 1067.50 weekly closing price and 1069 Dec. contract's weekly top
also 1071 weekly chart's top (very major
area).
Support: For
the Dec. contract -
1024.70 intra-day channel (major) / 1023 and 1022.70
base also 1022.60 minor day channel and 1022.50 intra-day channel (major
area) / 1019.70 and 1019.50 day channels and 1019.30 day
bottom (very major area)
/ 1016 day bottom and 1015.50 major long-term day channel also 1014.80
major weekly channel and 1014.50 weekly channel (very
major area) / 1013.50 day bottom and 1012.60 day gap
also 1012.10 GBX bottom and 1011.50 weekly channel (very
major area) / 1007.50 weekly chart's bottom (major)
/ 1005.50 weekly bottom and 1004.50 weekly chart's bottom also 1003.50
weekly bottom (major area) / 998 day bottom (major)
/ 989.50 day bottom and 988.60 weekly channel also 988.70 day channel (very
major area).
Comments:
The whiplashing action on Tuesday was normal
in the neutral area but managed to close up on the day leaving the
chart in neutral to slightly bullish condition. A trade above
1028.50 - 1029.50 area is slightly bullish but a trade above 1035.80 -
1037.20 channels can bring prices up to challenge the 1042.20 area and
possibly higher. A trade today below 1019.70 - 1019.50 area is
slightly bearish but only a trade below 1015.50 and 1014.50 can
bring any solid bearishness back to the chart. A trade below
1011.50 will confirm lower prices to follow. Remain defensive
inside the first trading area between 1028.50 - 1022.60.
Day trades:
For The Dec. contract -
Aggressive traders can buy dips near 1023.50 -
1022.60 area or sell rallies near 1026.50 - 1028.50 area, whichever
side comes first, to complete the trade. (Use a sell stop and
rev. short at 1021.30). (Use a buy stop and rev. long at 1030).
Aggressive traders can buy dips near 1015.50 -
1014.50 area and if possible near 1012.60 gap for obj. near 1019 -
1020 area. (Use a sell stop and rev. short at 1010).
Aggressive traders can sell rallies near 1035 - 1037
area for obj. near 1031.50 - 1029.50 area. (Use a buy stop and
rev. long at 1038).
Buy stop at 1030 for obj. near 1032.90 gap and
possibly near 1035.
Buy stop at 1038 for obj. near 1041 - 1042.20 area.
Buy stop at 1047.80 for obj. near 1052 - 1055 area.
Sell stop at 1021.30 for obj. near 1019.70 - 1019.50
area and possibly near 1016 bottom.
Sell stop at 1010 for obj. near 1007.50 - 1005.50
area and possibly near 1004.50.
Sell stop at 1001 for obj. near 998 - 997 area.
Sell stop at 995 for obj. near 991 - 989.50 area and
possibly near 988.60.
Bulletin - Originally sent 09/24/03 (9:46 am est) Short positions were taken at 1027. The sell off did not meet the obj. at 1023.50 and is proving to hold support at 1025. Exit the short position at the market and scratch the trade. Bulletin - Originally sent 09/24/03 (10:03 am est) The sell off down to 1024.20 was near enough to the 1023.50 buy area, putting traders into long positions. The obj. remains at 1026.50 - 1028.50. (Continue to use the sell stop and rev. short at 1021.30). Bulletin - Originally sent 09/24/03 (11:37 am est) The sell stop was hit at 1021.30 putting traders into short positions. The sell off down to 1019.70 meets the obj. and completes the trade. Bulletin - Originally sent 09/24/03 (12:08 pm est) The sell off down to 1015.50 put traders into long positions. The obj. remains at 1019 - 1020 and continue to use a sell stop and rev. short at 1010. Bulletin - Originally sent 09/24/03 (3:53 pm est) The sell stop was hit at 1010, putting traders into short positions. The sell off down to 1007.50 meets the obj. and completes the trade. Results: 09/24/03
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P -
For Thursday
09-25-03 : 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 Dec. contract -
1008 and 1009.20 intra-day channels (major
area) / 1010.20, 1010.50 and 1010.80 peaks (major
area) / 1011.50, 1012 and 1012.70 peaks (major
area) / 1014.70 peak and 1014.80 rev. channel also 1016
rev. base (very major area)
/ 1021.70 peak (major) / 1024.10 day channel and
1024.20 peak also 1024.60 GBX channel (very
major area) / 1026.40 GBX minor channel and 1027.70
day top also 1028.20 GBX top and 1028.50 day top (major
area) / 1031.80 GBX top and 1032.90 weekly closing gap (major
area) / 1035.80 major long-term weekly channel also 1036.70
and 1037.20 weekly channels (very
major area) / 1038.50 weekly top and 1039 GBX weekly
top (major area) / 1042.20 monthly channel and
1044.10 weekly top also 1043.40 and 1044.80 weekly upper channel (very
major area).
Support: For
the Dec. contract -
1006.10 monthly closing price and 1005.50 weekly bottom (major
area) / 1004.50 weekly chart's bottom and 1004 weekly
channel also 1003.50 weekly bottom (very
major area) / 998 day bottom (major)
/ 990.80 weekly closing price and 989.50 day bottom and 989 day
channel also 988.80 weekly closing price and 988.60 weekly channel (very
major area) / 980.80 weekly bottom (very
major area) / 976.20 weekly closing price (major
area) / 971.60 monthly closing price also 971.50 double
bottom and weekly bottom (very major
area) / 960.50 day bottom and 958.50 weekly chart's
bottom also 957 Dec. contract's weekly bottom (very
major area).
Comments:
The sell-off on Wednesday took prices below the
major weekly channels and closing below the past 16 days settling
prices, leaving the chart in bearish territory. Rallies are
now to be considered a selling opportunity. A trade today
above 1014.80 - 1016 area is slightly bullish but only a trade above
1024.10 - 1026.40 area can bring any solid bullishness back to the
chart. A trade above 1035.80 and 1037.20 weekly channels will
be considered a breakout for much higher prices to follow. A
trade below 1004 - 1003.50 area is bearish and the first signal of a
down trend. A trade below 988.60 will confirm a major
downtrend intact for lower prices to follow. Remain defensive
inside the first trading area between 1009.20 - 1005.50 area
and also between the 1014.80 - 1004 area.
Day trades:
For The Dec. contract -
Daytraders can sell
rallies near 1008 - 1009.20 area or buy dips near 1005.50 - 1004
area, whichever side comes first to complete the trade. NOTE:
This trade is not to be repeated. Use only one side or the
other, whichever side comes first. (Use a protective buy stop
at 1011.70. Do not rev. long). (Use a sell stop and rev.
short at 1001).
Aggressive traders can sell rallies near 1013.50 -
1015.50 area for obj. near 1010.50 - 1009 area and possibly near
1007. (Use a buy stop and rev. long at 1017.70).
Aggressive traders can sell rallies near 1023 -
1026 area for obj. near 1020 - 1017 area. (Use a buy stop and
rev. long at 1030).
Buy stop at 1017.70 for obj. near 1021 - 1023 area
and possibly near 1024.10.
Buy stop at 1030 for obj. near 1031.80 - 1032.90
gap area and possibly near 1035.80.
Sell stop at 1001 for obj. near 998 - 996 area.
Sell stop at 995 for obj. near 991 - 989.50 area
and possibly near 988.60.
Sell stop at 985.50 for obj. near 982 - 980.80
bottom area.
Bulletin - Originally sent 09/25/03 (9:50 am est) Short positions were taken on the opening at 1009. The sell off down to 1007.10 just missed the obj. It is recommended to exit the short position at the market and scratch the trade. The market is trading at 1008 at this time. Results: 09/25/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S & P
- For Friday
09-26-03 : 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 Dec. contract -
999.50 peak and 1000.40 day channel with GBX prices also 1000.90
day channel (major area) / 1001.90 peak (major)
/ 1003.50 and 1003.80 peaks also 1003.50 rev. base and 1004.30
intra-day channel (very major
area) / 1008.70 peak and 1009 intra-day channel
also 1009.70 peak (major area) / 1011.20 peak
and 1011.70 peak (very major area)
/ 1013 peak and 1014.30 day top (major area) /
1016 rev. base (major) / 1020.50 day channel
and 1021 GBX channel (very major
area) / 1024.60 minor day channel with GBX
prices (very major area)
/ 1027.70 day top and 1028.20 GBX top also 1028.50 day top (major
area) / 1031.80 GBX top and 1032.90 weekly closing gap (major
area) / 1035.80 major long-term weekly channel also
1036.70 and 1037.20 weekly channels (very
major area) / 1038.50 weekly top and 1039 GBX
weekly top (major area) / 1042.20 monthly
channel (very major).
Support: For
the Dec. contract -
997.80 day channel and 997.50 day bottom (major area)
/ 994 day session closing price (major area) /
990.80 weekly closing price and 989.50 day bottom also 988.60
weekly channel (very major area)
/ 982.50 weekly chart's bottom and 980.80 weekly bottom also
980.50 weekly channel (very major
area) / 976.20 weekly closing price (major
area) / 971.60 monthly closing price also 971.50 double
bottom and 968 GBX weekly bottom (very
major area) / 960.50 day bottom and 958.50
weekly chart's bottom also 957 Dec. contract's weekly bottom (very
major area).
Comments:
After having the bearish condition that was
developed with Wednesday's sell-off the market
sold off again on Thursday as expected. The close
below the major weekly channels can prove to be the beginning of
a major downtrend. A trade below the 988.60 channel will
confirm the downtrend intact for lower prices to follow. A
trade today above 1000.40 - 1000.90 channels can bring prices up
to challenge the 1004.30 intra-day channel and possibly near the
1009 channel at this time. Only a trade above 1020.50 -
1021 channels and 1024.60 can bring any solid bullishness back
to the chart. Remain defensive inside the first trading
range between 1000.90 to 994 area and also inside the 1004.30 -
988.60 trading area.
Day
trades: For The Dec. contract -
Aggressive traders can sell
rallies near 999.50 - 1000.90 area for obj. near 997.80 and
possibly near 996. (Use a protective buy stop at 1002.20.
Do not rev. long).
Aggressive traders can sell rallies near
1003.50 - 1004.30 area for obj. near 1001.50 and possibly near
1000.50 - 999.50 area. (Use a buy stop and rev. long at
1005.20).
Aggressive traders can sell rallies near
1008.50 - 1009.70 area for obj. near 1005 - 1003.50 area.
(Use a buy stop and rev. long at 1015.70).
Aggressive traders can sell rallies near
1019.50 - 1021 area for obj. near 1016.50 - 1015 area.
(Use a protective buy stop at 1025.70. Do not rev. long).
Buy stop at 1005.70 for obj. near 1008.50 -
1009.70 area.
Buy stop at 1015.70 for obj. near 1019.50 -
1021 area.
Sell stop at 993.90 for obj. near 991 - 988.60
area.
Sell stop at 985.50 for obj. near 982.50 and
possibly near 981 - 980.80 bottom area.
Sell stop at 977.50 area for obj. near 974 -
971.50 area.
Bulletin - Originally sent 09/26/03 (9:40 am est) Short positions were taken on the opening at 1000. The sell off down to 997.80 meets the obj. and completes the trade. Results: 09/26/03
HYPOTHETICAL
PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF
WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE
THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR
LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY
SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS
AND THE ACTUAL RESULTS ACHIEVED BY ANY PARTICULAR TRADING
PROGRAM.
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