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.
 

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

 

Bulletin - Originally sent 08/25/03 (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

Sold @ 993 Bought @ 990.50 = + $   625.00
Bought @ 987 Sold @ 990.50   = + $   875.00
TOTAL (P & L)    + $1,500.00
 
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.
 

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

Bulletin - Originally sent 08/26/03 (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

Sold @ 985 Bought @ 983 = + $   500.00
Bought @ 982.80 Sold @ 985.50   = + $   675.00
TOTAL (P & L)    + $1,800.00
 
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.
 

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

Bulletin - Originally sent 08/27/03 (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

Bought @ 994.50 Sold @ 994.50 =    $     -0-        sold as per bulletin
Bought @ 992.80 Sold @ 997.50   = + $1,175.00
TOTAL (P & L)    + $1,175.00
 
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.
 

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

Bulletin - Originally sent 08/28/03 (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

Sold @ 998.50 Bought @ 995.50 = + $   750.00
Sold @ 993 Bought @ 992.50 = + $   125.00     bought as per bulletin
Bought @ 1000.30 Sold @ 1003   = + $   675.00
TOTAL (P & L)    + $1,550.00
 
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.
 

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

Bulletin - Originally sent 08/29/03 (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

Bought @ 999 Sold @ 1002   = + $   750.00
TOTAL (P & L)    + $   750.00

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.
 

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

Bulletin - (Originally sent 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

Sold @ 1012 Bought @ 1011.50 = + $   125.00     bought as per bulletin       
Bought @ 1004.50 Sold @ 1008 = + $   875.00
Bought @ 1018.70 Sold @ 1022 = + $   825.00          
TOTAL (P & L)    + $1,825.00
 
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.
 

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

Bulletin - (Originally sent 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

Sold @ 1024.50 Bought @ 1022 = + $   625.00            
Sold @ 1025.20 Bought @ 1026 = -  $   200.00
TOTAL (P & L)    + $   425.00
 
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.
 

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

Bulletin - (Originally sent 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