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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 - 09/29/03 - 10/03/03
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 09-29-03 :  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 Dec. contract -
999 intra-day channel also 999.25 and 999.75 peaks (major area) / 1001.20 peak also 1002 intra-day channel and day top (very major area) / 1014.30 day top and 1016.30 intra-day channel also 1016.90 and 1017.40 day channels (very major area) / 1023.50 minor day channel (major area) / 1027.70 day top and 1028.20 GBX top also 1028.50 weekly top (major area) / 1031.80 GBX weekly top and 1032.90 weekly closing gap also 1032.70 major weekly channel (very major area) / 1034.40 and 1035.50 weekly channels (very major area) / 1038.50 weekly top and 1039 GBX weekly top (major area).
 
Support:  For the Dec. contract -
992.90 weekly channel and 992.50 major monthly channel also 991 day channel (very major area) / 989.50 day bottom also 987.30 monthly channel (very major area) / 983.70 weekly channel and 982.70 day channel also 980.80 weekly bottom (very major area) / 979 and 978 day bottoms also 977.80 monthly channel and 976.20 weekly closing price (very major area) / 971.50 weekly bottom (major area) / 960.50 day bottom and 958.50 weekly chart's bottom also 957 Dec. contract's weekly bottom (very major area) / 946.30 day gap (major area).
 
Comments:     
    The narrow trading range on Friday leaves the chart in neutral to bearish condition facing the 992.90 and 992.50 major channel supports.  A trade below 992.50 - 991 area is bearish and will challenge the 987.30 monthly channel and possibly near the 983.70 and 982.70 channel support.  A trade this week below 983.70 and 980.80 can prove to be the beginning of a major downtrend for prices to possibly reach down near the 915 - 900 area again.  A trade today above 1014.30 - 1017.40 area is slightly bullish but only a trade above 1032.70 - 1035.50 can bring any solid bullishness back to the chart.  Remain defensive inside the first trading range between 999 and 992.50 and also inside the weekly range between 1035.50 - 983.70.
                                                                                                                                                                 
Day trades:  For The Dec. contract -
 
Aggressive traders can sell rallies near 998 - 999.50 area for obj. near 996 - 994 area.  (Use a buy stop and rev. long at 1002.70).
 
Aggressive traders can buy dips near 993 - 992.50 area for obj. near 996 - 999 area.  (Use a sell stop and rev. short at 986).
 
Buy stop at 1002.70 for obj. near 1009 - 1012 area.
Buy stop at 1019 for obj. near 1022 - 1023.50 area.
 
Sell stop at 986 for obj. near 984 - 982.50 area.
Sell stop at 976 for obj. near 973 - 971.50 area.
 

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

Bulletin - Originally sent 09/29/03 (10:49 am est) 

 
Short positions were taken at 998.50.  The sell-off down to 996.20 is near enough to the 996 obj. and completes the trade.

Bulletin - Originally sent 09/29/03 (11:11 am est) 

 
The sell-off down to 993.50 is near enough to the 993 buy area putting traders into long positions.

Bulletin - Originally sent 09/29/03 (11:16 am est) 

 
Long positions were taken at 993.50.  The obj. still remains near the 996 - 999 area.  Continue to use a sell stop and rev short at 986.

Bulletin - Originally sent 09/29/03 (11:26 am est) 

 
Long positions were taken at 993.50.  The rally up to 996.50 meets the obj. and completes the trade.

Bulletin - Originally sent 09/29/03 (12:43 pm est) 

 
The buy stop was hit at 1002.70, putting traders into long positions.  The market is showing resistance at the 1004.50 area. 
 
It is recommended to exit the long positions at the market, which is trading at 1003.50 and take profits.

Results:    09/29/03

Sold @ 998.50 Bought @ 996.20 = + $   575.00
Bought @ 993.50 Sold @ 996.50 = + $   750.00     
Bought @ 1002.70 Sold @ 1003.50   = + $   200.00     sold as per bulletin
TOTAL (P & L)    + $1,525.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 09-30-03 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the Dec. contract -
1004.50 intra-day channel and 1004.60 peak also 1005.30 day top (major area) / 1011.20 and 1011.70 peaks also 1011.50 intra-day channel (major area) / 1013.30 day channel and 1013.80 GBX channel also 1014.30 day top (very major area) / 1019.50 minor day channel with GBX prices and 1021 GBX minor day channel (major area) / 1027.70 day top and 1028.20 GBX top also 1028.50 weekly top (major area) / 1031.80 GBX top and 1032.90 weekly closing gap also 1032.70 major weekly channel (very major area) / 1034.40 and 1035.50 weekly channels (very major area) / 1038.50 weekly top and 1039 GBX weekly top (major area).
 
Support:  For the Dec. contract -
1001.50 intra-day channel also 1000.80 and 1000.20 base area (major area) / 997.50 and 997.30 base (major area) / 993.30 day bottom and 992.90 weekly channel also 992.50 major monthly channel and 992 day channel (very major area) / 989.50 day bottom also 987.30 monthly channel (very major area) / 983.70 weekly channel and 982.70 day channel also 980.80 weekly bottom (very major area) / 979 and 978 day bottoms also 977.80 monthly channel and 976.20 weekly closing price (very major area) / 971.50 weekly bottom (major area) / 960.50 day bottom and 958.50 weekly chart's bottom also 957 Dec. contract's weekly bottom (very major area) / 946.30 day gap (major area).
 
Comments:    
     The rally on Monday from the major support proved the significance of the area and taking away the bearishness, leaving the chart in neutral condition between 1013.30 and 992.50.  A trade above 1013.30 - 1014.30 area is slightly bullish but only a trade above 1021 can bring any solid bullishness back to the chart.  A trade above 1032.70 and 1035.50 weekly channels will be considered a breakout for higher prices to follow.  A trade below 992.50 - 987.30 area will fail the major supports for lower prices.  Remain defensive inside the first neutral area between 1004.50 and 1000.20 area and also between 1013.80 and 992.50.
                                                                                                                                                                     
Day trades:  For The Dec. contract -
 
Aggressive traders can buy dips near 1001.50 - 1000.20 area or sell rallies near 1003 - 1004.50 area, whichever side comes first, to complete the trade.  (Use a protective sell stop at 997.  Do not rev. short).  (Use a buy stop and rev. long at 1007.50).
 
Aggressive traders can sell rallies near 1013 - 1014 area for obj. near 1008 - 1007 area.  (Use a protective buy stop at 1016.70.  Do not rev. long).
 
Buy stop at 1007.50 for obj. near 1011 and possibly near 1013 area.
 
Sell stop at 990.50 for obj. near 988.50 - 987.30 area.
Sell stop at 986 for obj. near 984 - 982.50 area.
Sell stop at 976 for obj. near 973 - 971.50 area.
 

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

Bulletin - Originally sent 09/30/03 (10:00 am est) 

 
The sell-off down to 995.50 is showing signs of support can be considered a buying area.  Aggressive traders can buy at the market, which is trading at 995.70 at this time.  (Use a sell stop and rev. short at 990.50).  The obj. is near 1002 - 1004 area.

Bulletin - Originally sent 09/30/03 (10:19 am est) 

 
The market is showing signs of support at the 988 level, which is the major monthly channel line and should be considered a buying area.  Aggressive traders can attempt long positions at the market which is trading at 991.50.  (Use a sell stop and rev. short at 986).  The obj. for this long position is near 1002 - 1004 area.

Bulletin - Originally sent 09/30/03 (11:47 am est) 

 
Long positions were taken at 991 and 988.50.  The intra-day double top at 994.50 area is now resistance. 
 
It is recommended to exit the long position at the market and take profits.

Results:    09/30/03

Bought @ 1000 Sold @ 997 = -  $   750.00
Bought @ 995.50 Sold @ 990.50 = -  $1,250.00
Sold @ 990.50 Bought @ 988.50 = + $   500.00
Bought @ 991.50 Sold @ 994.50 = + $   750.00     bought as per bulletin and sold as per bulletin     
Bought @ 988.50 Sold @ 994.50   = + $1,500.00     bought and sold as per bulletin
TOTAL (P & L)    + $   750.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 10-01-03 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the Dec. contract -
995.30 and 996 peaks also 996.30 day channel (major area) / 998.50 intra-day gap and 999.20 GBX day channel (very major area) / 1001.20 day top and 1001.70 day channel with GBX prices (very major area) / 1004.20 day gap and 1004.90 GBX top also 1005.30 day top (major area) / 1010 and 1010.20 day channels also 1011.20 and 1011.70 peaks (very major area) / 1013 peak and 1014.30 day top also 1014.70 peak (major area) / 1017.50 day channel with GBX prices also 1019.20 GBX channel and 1021 day session closing price (very major area) / 1025.40 day session closing price and 1027.70 day top also 1028.20 GBX weekly top and 1028.50 weekly top (major area) / 1031.80 GBX top and 1032.90 weekly closing gap also 1032.70 major weekly channel (very major area) / 1034.40 and 1035.50 weekly channels (very major area).
 
Support:  For the Dec. contract -
993 intra-day channel and 992.50 double base (major area) / 990.20 base and 989.40 major day channel (major area) / 988.70 day channel and 988 day bottom also 987.30 monthly channel (very major area) / 983.70 weekly channel and 983.50 day channel (very major area) / 980.80 weekly bottom and 979 and 978 day bottoms also 977.80 monthly channel (very major area) / 976.20 weekly closing price (major) / 971.50 weekly bottom (major) / 960.50 day bottom and 958.50 weekly chart's bottom also 957 Dec. contract's weekly bottom (very major area) / 946.30 day gap (major area).
 
Comments:   
    Tuesday's trading range remained inside the neutral area leaving the chart neutral inside a narrow range between 999.20 and 989.40.  A trade above 999.20 - 1001.70 area can bring prices up to challenge the 1010 and 1010.20 day channels and possibly near 1014.30 - 1019.20 area.  A trade today below 989.40 and 987.30 is bearish and can bring prices down to challenge the 983.70 and 977.80 area.  Overall, the end of the month closed down leaving slightly bearish conditions.  Remain neutral to bearish until the market can prove to trade above the 1032.70 - 1035 area.   
                                                                                                                                                                          
Day trades:  For The Dec. contract -
 
Aggressive traders can sell rallies near 997 - 999 area and if possible near 1001.70 for obj. near 994 - 992.50 area and possibly near 989.40.  (Use a buy stop and rev. long at 1005.70).  (Use a sell stop and rev. short at 986).
 
Aggressive traders can sell rallies near 1009 - 1010.20 for obj. near 1005 - 1003 area.  (Use a buy stop and rev. long at 1015).
 
Aggressive traders can sell rallies near 1017 - 1019 area for obj. near 1014 - 1011 area.  (Use a protective buy stop at 1023.  Do not rev. long).
 
Buy stop at 1005.70 for obj. near 1009 - 1010.20 area.
Buy stop at 1015 for obj. near 1017 - 1019 area.
 
Sell stop at 986 for obj. near 984 - 982.50 area.
Sell stop at 981.50 for obj. near 979 - 977.80 area.
Sell stop at 976 for obj. near 973 - 971.50 area.
 

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

Bulletin - Originally sent 10/01/03 (10:51 am est) 

 
Short positions were taken at 999 and again at 1001.70.  The sell off down to 999.70 can possibly hold as support.  Traders should exit the short position taking profits on the second trade, and scratching the first one.

Bulletin - Originally sent 10/01/03 (11:42 am est) 

 
The sell stop was hit at 1005.70, putting traders into long positions.  The technical formation is showing signs of a possible retracement to the downside from this area due to the fact that the 1010 channel resistance is significant.
 
It is recommended to exit long positions at the market and scratch the trade.  The market is trading at 1005 at this time.

Bulletin - Originally sent 10/01/03 (1:35 pm est) 

 
The rally up to 1008.50, which is near enough to the 1009 sell area put traders into short positions.  The obj. still remains at 1005 - 1003 area.  (Continue to use a buy stop and rev. long at 1015).

Bulletin - Originally sent 10/01/03 (3:59 pm est) 

 
The buy stop was hit putting traders into long positions.  The rally fell short of the obj. and is now selling off from the 1016.50 area.  It is recommended to exit the long position at the market, which is trading at 1015.50 at this time and scratch the trade.

Results:    10/01/03

Sold @ 999 Bought @ 999.70 = -  $   175.00     bought as per bulletin
Sold @ 1001.70 Bought @ 999.70 = + $   500.00     bought as per bulletin
Bought @ 1005.70 Sold @ 1005 = -  $   175.00     sold as per bulletin
Sold @ 1008.50 Bought @ 1015 = -  $1,625.00
Bought @ 1015 Sold @ 1015.50 = + $   125.00     sold as per bulletin      
Sold @ 1017 Bought @ 1016.40   = + $   150.00     
TOTAL (P & L)    -  $1,200.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 10-02-03 :  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 Dec. contract -
1017 top and 1017.40 GBX channel (major area) / 1021.70 and 1024.20 peaks (significant area) / 1026.60 major monthly channel also 1027.70 day top and 1028.20 GBX top also 1028.50 weekly top (major area) / 1030.50 monthly channel also 1031.80 GBX top and 1032.70 major weekly channel also 1032.90 weekly closing gap and 1032.90 monthly channel (very major area) / 1034.40 and 1035.50 weekly channels (very major area) / 1038.30 day top and 1038.50 weekly top also 1039 GBX weekly top (major area) / 1044 weekly top (major) / 1047.80 weekly upper channel and 1048.50 major weekly upper channel also 1049.90 upper channel (very major area).
 
Support:  For the Dec. contract -
1014.30 and 1013.50 base also 1013.30 and 1012.30 intra-day channels (major area) / 1008.50 and 1008.20 base also 1006.60 day channel and 1006.50 base (very major area) / 1000.40 GBX day channel (major) / 997.30 day bottom and 997.20 newly developed monthly channel (very major area) / 994.20 GBX bottom and 994.10 day gap (major area) / 989.60 day channel and 988 day bottom (very major area) / 984.20 day channel and 983.70 weekly channel (very major area) / 980.80 weekly bottom also 979 and 978 day bottoms (very major area) / 976.20 weekly closing price (major) / 971.50 weekly bottom (major).
 
Comments:   
    The rally from the support area on Wednesday was significant leaving the chart neutral inside the trading area between 1017.40 and 1012.30 area.  The second trading area is found between 1026.60 and 997.20, which reflects the newly developed monthly channels on each side.  A trade above the 1026.60 monthly channel can challenge the 1030.50 and 1032.90 monthly channels.  A trade above the 1032.90 - 1035.50 area will be considered a breakout for higher prices.  A trade today below 1006.60 is slightly bearish but a trade below 997.20 is bearish for prices to challenge the 989.60 area and possibly near 983.70.  A trade below the 983.70 weekly channel and 980.80 weekly bottom will fail the major supports and can reverse the trend to the downside.  Remain neutral inside the daily and monthly trading areas listed until a breakout is seen to either side.
                                                                                                                                                                              
Day trades:  For The Dec. contract -
 
Aggressive traders can sell rallies near 1016 - 1017.40 area or buy dips near 1013.50 - 1012.30 area, whichever side comes first to complete the trade.  (Use a buy stop and rev. long at 1021).  (Use a sell stop and rev. short at 1011).
 
Aggressive traders can sell rallies near 1025 - 1026.60 area for obj. near 1021 - 1019.50 area.  (Use a protective buy stop at 1029.70.  Do not rev. long).
 
Aggressive traders can buy dips near 1008.50 - 1006.60 area for obj. near 1011 - 1013 area.  (Use a sell stop and rev. short at 1003.50).
 
Buy stop at 1021 for obj. near 1024 - 1026.60 area.
 
Sell stop at 1011 for obj. near 1008.50 - 1006.60 area.
Sell stop at 1003.50 for obj. near 1001.50 - 1000.40 area and possibly near 999 - 997.20 area.
Sell stop at 996.70 for obj. near 994.10 gap and possibly near 991 - 989.60 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 10/02/03 (9:33 am est) 

 
Long positions were taken on the opening at 1014, which was near enough to the 1013.50 buy area.  The obj. remains at 1016 - 1017.40 area.  (Use a sell stop and rev. short at 1011).

Bulletin - Originally sent 10/02/03 (9:57 am est) 

 
Long positions were taken at 1014 and 1012.70.  The rally up to 1015.50 is near enough to the 1016 obj. and completes the trade.

Bulletin - Originally sent 10/02/03 (12:01 pm est) 

 
Short positions were taken at 1017.40.  The sell off down to 1013.50 meets the obj. and completes the trade.  NOTE:  Both sides of the first trade are now complete and will not be attempted again.

Results:    10/02/03

Bought @ 1014 Sold @ 1015.50 = -  $   375.00
Bought @ 1012.70 Sold @ 1015.50 = + $   700.00           
Sold @ 1017.40 Bought @ 1013.50  = + $   975.00        
TOTAL (P & L)    + $2,050.00
NOTE:  The buy stop at 1021 was hit in the 3 min. closing period and will not be listed as a trade  
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 10-03-03 :  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 Dec. contract -
1025.40 day session closing price and 1026.60 major monthly channel (very major area) / 1027.70 day top and 1028.20 GBX top also 1028.50 weekly top (major area) / 1030.50 monthly channel also 1031.80 GBX top and 1032.70 major weekly channel also 1032.90 weekly closing gap and 1032.90 monthly channel (very major area) / 1034.40 and 1035.50 weekly channels (very major area) / 1038.30 day top and 1038.50 weekly top also 1039 GBX weekly top (major area) / 1044 weekly top (major) / 1047.80 weekly upper channel and 1048.50 major weekly upper channel also 1049.90 upper channel (very major area).
 
Support:  For the Dec. contract -
1018.30 intra-day channel and 1017 base (major area) / 1016 and 1015.70 base also 1015.90 day channel and 1015.70 intra-day channel and 1014.60 base (major area) / 1012.70 base and 1011.50 day bottom (major area) / 1006.50 intra-day channel and base also 1006 day channel with GBX prices (very major area) / 999.20 base and 997.30 day bottom (major area) / 994.20 GBX bottom and 994.10 day gap also 992.20 major day channel (very major area) / 990 day channel and 988 weekly bottom (major area).
 
Comments:   
    The follow-through rally on Thursday put the chart in neutral to slightly bullish territory and is now facing the major resistances at 1026.60 and 1032.90 monthly channels also the 1034.40 and 1035.50 weekly channels.  A trade above 1035.50 will be considered a breakout for higher prices to follow.  A trade below 1006.50 - 1006 area is slightly bearish but a trade below 997.20 is bearish and can rev. the trend to the downside.  Remain defensive inside the wide trading range between 1035.50 and 1006 area.   
                                                                                                                                                                                  
Day trades:  For The Dec. contract -
 
Aggressive traders can sell rallies near 1030.50 - 1035.50 area for obj. near 1026 - 1021 area.  (Use a buy stop and rev. long at 1045).  (Conservative traders can use a protective buy stop at 1040.  Do not rev. long).
 
Aggressive traders can buy dips near 1008 - 1006 area for obj. near 1014 - 1016 area.  (Use a sell stop and rev. short at 1003).
 
Buy stop at 1045 for obj. near 1047 - 1049 area.
Buy stop at 1052 for obj. near 1055 - 1058 area.
 
Sell stop at 1003 for obj. near 1000 - 997.20 area.
 

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

Bulletin - Originally sent 10/03/03 (3:03 pm est) 

 
Short positions were taken at 1032 and 1035 today.  The market held the 1038 double top but also held the 1029.50 as a support today. 
 
It is recommended to exit the short positions at the market, which is trading at 1032 at this time, and scratching the trade and taking a profit on the other.

Results:    10/03/03

Sold @ 1032 Bought @ 1032 =    $     -0-             
Sold @ 1035 Bought @ 1032  = + $   750.00        
TOTAL (P & L)    + $   750.00
The week in review - 10/06/03 - 10/10/03
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 10-06-03 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the Dec. contract -
1028.50 intra-day channel and 1029.20 peak (major area) / 1032.70 and 1033.20 peaks also 1034.70 newly developed major weekly channel (very major area) / 1035.50 and 1036.10 weekly channel also 1036.80 and 1037.10 peaks (very major area) / 1038.40 monthly channel also 1038.70 and 1038.80 minor weekly channels also 1037.80 and 1038.30 weekly tops and 1039 GBX weekly top (very major area) / 1044 weekly top and 1045.50 day top (major area) / 1050.60 major weekly upper channel also 1052.20 and 1055 weekly upper channel (very major area) / 1061 day top (major) / 1069 weekly closing gap for the Dec. contract also 1071.50 monthly top (very major area) / 1087.50 monthly closing price (very major area).
 
Support:  For the Dec. contract -
1027 intra-day channel and 1026 day bottom (major area) / 1025.20 day channel and 1024.30 day channel with GBX prices (major area) / 1019.60 day gap and 1017.90 GBX bottom (major area) / 1012.70 base and 1011.50 day bottom (very major area) / 1005.30 rev. base (major) / 997.30 weekly bottom and 997.20 monthly channel (very major area) / 994.90 weekly channel also 994.20 GBX bottom and 994.10 day gap also 994.10 day channel and 993.70 major day channel (very major area) / 991.70 minor weekly channel also 991 day channel and 988 weekly bottom (very major area) / 980.80 weekly bottom and 976 minor day channel (very major area).
 
Comments:   
    The rally on Friday and the sell-off from the major top area can possibly prove to be a signal of major resistance and can stimulate selling pressure.  A trade above the 1039.30 - 1039 area is bullish and can bring prices up to challenge the 1050 - 1055 weekly upper channels and possibly near 1061 area.  A trade below 1025.20 - 1024.30 day channels can bring prices down to challenge the 1019.60 gap and 1011.50 day bottom.  Overall, only a trade below 997.20 can bring any solid bearishness back to the chart.  Remain defensive inside the 1038.40 - 1019.60 neutral trading range.       
                                                                                                                                                                                      
Day trades:  For The Dec. contract -
 
Aggressive traders can sell rallies near 1030 - 1033 area for obj. near 1026 - 1024.30 area.  (Use a buy stop and rev. long at 1040).
 
Aggressive traders can sell rallies near 1035 - 1037 area for obj. near 1031 - 1029 area.  (Use a buy stop and rev. long at 1040).
 
Buy stop at 1040 for obj. near 1043 - 1044 area.
Buy stop at 1047 for obj. near 1050 and possibly near 1053 - 1055 area.
 
Sell stop at 1023 for obj. near 1020 - 1019.60 gap area.
Sell stop at 1017 for obj. near 1013 - 1011.50 area.
Sell stop at 1009 for obj. near 1006.50 - 1005.30 area.
 

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

Bulletin - Originally sent 10/06/03 (9:59 am est) 

Short positions were taken at 1030.  The sell off down to 1027.80 missed the obj. of 1026 and is showing signs of support at this time. 

It is recommended for short positions to exit at 1029.50 and scratch the trade.

Bulletin - Originally sent 10/06/03 (10:41 am est) 

The rally up to 1031.50 is inside the 1030 - 1033 selling area where short positions were taken again.  The sell off down to 1027.30 is near enough to the 1026 obj. and completes the trade.

Bulletin - Originally sent 10/06/03 (3:05 pm est) 

The rally up to 1034.80 was near enough to the 1035 sell area putting traders into short positions.  The sell-off down to 1032.10 is near enough to the 1031 obj. and completes the trade.

Bulletin - Originally sent 10/06/03 (3:48 pm est) 

Because of the technical formation and the time of the day the second trade listed in today's report will not be repeated. 

NOTE:  Usually when there is most of the trading day still left the trade can be attempted again at the higher end of the selling area.  At this time repeating the trade appears too high of a risk an now will be avoided.

Results:    10/06/03

Sold @ 1030 Bought @ 1029.50 = + $   125.00
Sold @ 1031.50 Bought @ 1027.50 = + $1,000.00
Sold @ 1034.70 Bought @ 1032.30   = + $   600.00
TOTAL (P & L)    + $1,725.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 10-07-03 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the Dec. contract -
1034.20 intra-day channel and 1034.70 peak also 1034.80 day top and 1034.70 major monthly channel (very major area) / 1035.50 and 1036.10 weekly channel also 1036.80 and 1037.10 peaks (very major area) / 1038.40 monthly channel also 1038.70 and 1038.80 minor weekly channels also 1037.80 and 1038.30 weekly tops and 1039 GBX weekly top (very major area) / 1044 weekly top and 1045.50 day top (major area) / 1050.60 major weekly upper channel also 1052.20 and 1055 weekly upper channel (very major area) / 1061 day top (major) / 1069 weekly closing gap for the Dec. contract also 1071.50 monthly top (very major area) / 1087.50 monthly closing price (very major area).
 
Support:  For the Dec. contract -
1032.70 intra-day channel also 1032.70 and 1032 base (major area) / 1031 base and 1030.70 day channel (major area) / 1028.50 weekly closing price and 1027.30 day bottom also 1026.20 GBX bottom and 1026 day bottom (major area) / 1020.50 rev. peak and 1019.60 day gap also 1017.90 GBX bottom (major area) / 1012.70 base and 1011.50 day bottom (very major area) / 1005.30 rev. base (major) / 997.30 weekly bottom and 997.20 monthly channel (very major area) / 995.10 major day channel and 994.90 weekly channel also 994.20 GBX bottom and 994.10 day gap (very major area) / 991.90 day channel also 991.70 minor weekly channel (very major area) / 988 weekly bottom (major area) / 980.80 weekly bottom and 976 weekly closing price (very major area).
 
Comments:   
    Monday's trading range remained inside the neutral area leaving the chart neutral again inside a narrow range between 1035.50 and 1030.70 area.  A trade above 1035.50 - 1036.80 channels can bring prices up to challenge the 1039 and 1044 top areas and possibly as high as 1050.60 - 1055 area.  A trade today below 1030.70 - 1027.30 area can bring prices down to challenge the 1020.50 - 1017.90 area and possibly near 1011.50 bottom.  Remain defensive inside the 1035.50 - 1030.70 neutral area until a breakout is seen to either side.
                                                                                                                                                                                          
Day trades:  For The Dec. contract -
 
Aggressive traders can sell rallies near 1035 - 1037 area and if possible near 1038.70 for obj. near 1031.50 - 1030.50 area and if possible near 1028.50 - 1027.30 area.  (Use a buy stop and rev. long at 1040.70).  (Use a sell stop and rev. short at 1024.70).
 
Buy stop at 1040.70 for obj. near 1043 -1045 area.
Buy stop at 1046.70 for obj. near 1049.70 - 1050.60 area and possibly near 1052.20 - 1055 area.
 
Sell stop at 1024.70 for obj. near 1020.70 - 1019.60 gap area and possibly near 1017.90 GBX bottom.
Sell stop at 1016.30 for obj. near 1013 - 1011.50 bottom area.
Sell stop at 1009 for obj. near 1006 - 1005.30 area.
 

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

Bulletin - Originally sent 10/07/03 (11:21 am est) 

The sell-stop was hit at 1024.70 putting traders into short positions.  The protective buy stop should be above the 1032.70 area but since it is a sell between 1035 - 1037, all buy stops and rev long must be placed at 1040.70.  Conservative traders can use a protective buy stop at 1034.  Do not rev. long.

Bulletin - Originally sent 10/07/03 (1:42 pm est) 

The sell stop was hit at 1024.70 putting traders into short positions.  Additional short positions were added at 1033 for a cost average at 1028.80.  The sell-off down to 1029.10 was near enough to the cost average to scratch the trades. 

It is recommended for traders to exit the short positions near the 1030.50 area and scratch the trade with a small loss.  Traders holding only one short position at 1024.70 should also consider to exit near 1030.50 and cut losses.  NOTE:  the sell area at 1035 - 1037 will now be eliminated from today's trade due to the technical formation at this time.

Bulletin - Originally sent 10/07/03 (3:16 pm est) 

The chart formation is proving to show resistance at the 1035 - 1037 area that can possibly stimulate selling pressure at this time. 

It is recommended for traders to attempt short positions at 1035 - 1037 area for obj. near 1028.50 - 1026.50 area.  (Use a buy stop and rev. long at 1040.70)

Bulletin - Originally sent 10/07/03 (3:35 pm est) 

Short positions were taken at 1036.  The obj. remains at 1028.50 - 1026.50 area.  (Continue to use a buy stop and rev. long at 1040.70).

Results:    10/07/03

Bought @ 1028 Sold @ 1024.70 = -  $   825.00
Sold @ 1024.70 Bought @ 1030.50 = -  $1,500.00     bought as per bulletin
Sold @ 1033 Bought @ 1030.50 = + $   625.00     sold as per bulletin / bought as per bulletin
Sold @ 1036 Bought @ 1037.30   = -  $   325.00     sold as per bulletin with obj. and buy stop
TOTAL (P & L)    -  $2,025.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 10-08-03 :  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 Dec. contract -
1038.50 day top also 1038.70 and 1038.80 minor weekly channels and 1039 GBX top (very major area) / 1044 daily upper channel also 1044 weekly top and 1045.50 day top (major area) / 1050.60 major weekly upper channels also 1052.20 and 1055 weekly upper channel (very major area) / 1061 day top (major) / 1069 weekly closing gap for the Dec. contract also 1071.50 monthly top (very major area) / 1087.50 monthly closing price (very major area).
 
Support:  For the Dec. contract -
1035.30 base (major) / 1033.20 base (major) / 1031.40 day channel (very major area) / 1028.50 base and intra-day channel also 1028.40 minor day channel (major area) / 1025.20 minor day channel and 1024.20 day bottom (major) / 1020.50 rev. peak and 1019.60 day gap also 1017.90 GBX bottom (major area) / 1012.70 base and 1011.50 day bottom (very major area) / 1005.30 rev. base (major) / 997.30 weekly bottom and 997.20 monthly channel also 996.10 major day channel (very major area) / 994.90 major weekly channel and 994.10 day gap also 992.50 day channel and 991.70 major weekly channel (very major area) / 988 weekly bottom and 986.80 minor weekly channel also 986 day channel (very major area).
 
Comments:   
    The rally on Tuesday remained inside the neutral area challenging the major double top but did not penetrate through.  A trade today above the 1038.50 - 1039 area is bullish and can bring prices up to challenge the 1044 - 1045.50 area and possibly up near the 1050.60 - 1055 upper channel resistance.  A trade above 1055 will confirm the major uptrend intact with the possibility for the market to continue and reach up near the major 50% retracement at 1153 - 1170 area.  A trade today below 1031.40 is slightly bearish but a trade below 1025.20 - 1024.20 area can bring prices down to challenge the 1019.60 gap and possibly near the 1011.50 bottom area.  Overall, the market remains in bullish territory and only a trade below 997.20 can bring any solid bearishness back to the chart.  Remain defensive inside the 1039 - 1031.40 neutral trading area.
                                                                                                                                                                                              
Day trades:  For The Dec. contract -
 
Aggressive traders can sell rallies near 1038.50 - 1039 area or buy dips near 1034 - 1031.40 area, whichever side comes first, to complete the trade.  (Use a buy stop and rev. long at 1040.70).  (Use a sell stop and rev. short at 1030).
 
Aggressive traders can sell rallies near 1043 - 1044 area for obj. near 1040 - 1039 area and possibly near 1037.  (Use a buy stop and rev. long at 1047).
 
Buy stop at 1040.70 for obj. near 1043 - 1044 area.
Buy stop at 1047 for obj. near 1050 - 1052 area and possibly near 1035.
Buy stop at 1058 for obj. near 1061 - 1063 area.
 
Sell stop at 1030 for obj. near 1026 - 1025.20 area and possibly near 1024.20 bottom.
Sell stop at 1016 for obj. near 1013 - 1011.50 bottom.
 

* 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 10/08/03 (9:45 am est) 

Short positions were taken on the opening at 1038.50.  The sell off down to 1035.50 is near enough to the 1034 area for traders to consider taking profits.  This completes the first trade.

Bulletin - Originally sent 10/08/03 (10:05 am est) 

The first trade buy area was hit where long positions were taken at 1034.  The obj. should now be 1037 - 1038 area.  Continue to use a sell stop and rev. short at 1030.

Bulletin - Originally sent 10/08/03 (10:11 am est) 

The long position taken at 1034 is now complete with the rally up to 1037, which is the obj.  

Bulletin - Originally sent 10/08/03 (3:03 pm est) 

The sell stop at 1030 was hit putting traders into short positions.  The intra-day double bottom formation can possibly prove to be a support.

It is recommended for traders to exit the short position near 1031.50 -1030.50 area and scratch the trade.

Bulletin - Originally sent 10/08/03 (3:30 pm est) 

The short position taken on the sell stop at 1030 is now completed at with a loss at 1031.50. 

Results:    10/08/03

Sold @ 1038.50 Bought @ 1035.80 = + $   675.00     bought as per bulletin
Bought @ 1034 Sold @ 1037 = + $   750.00     sold as per bulletin 
Sold @ 1030 Bought @ 1031.50   = -  $   375.00     bought as per bulletin 
TOTAL (P & L)    + $1,050.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 10-09-03 :  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 Dec. contract -
1035.40 and 1036.20 peaks (major area) / 1038 peak and 1038.80 day top also 1038.80 minor weekly channel and 1039 GBX top (major area) / 1044 day top and 1044.40 major daily upper channel also 1045.50 day top (very major area) / 1050.60 major weekly upper channel also 1052.50 and 1055 weekly upper channels (very major area) / 1061 day top (major) / 1069 weekly closing gap for the Dec. contract also 1071.50 monthly top (very major area) / 1087.50 monthly closing price (very major area).
 
Support:  For the Dec. contract -
1033.80 minor day channel and 1032.80 intra-day channel also 1032.80 base and 1032.70 day channel (very major area) / 1031.50 double base and 1030 base also 1030 intra-day channel and 1029 day bottom (major area) / 1026.50 base (major) / 1024.20 day bottom (major) / 1020.50 rev. peak and 1019.60 day gap also 1017.90 GBX bottom (major area) / 1012.70 base and 1011.50 day bottom (very major area) / 1005.30 rev. base (major) / 997.90 major day channel also 997.30 day bottom and 997.20 monthly channel (very major area) / 994.90 major weekly channel and 994.20 GBX bottom also 994.10 day gap and 993.40 day channel (very major area) / 991.70 weekly channel (very major area) / 988 weekly bottom and 987.50 day channel also 986.80 minor weekly channel (very major area).
 
Comments: