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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:   
    The whiplashing action on Wednesday inside the neutral area again failed to penetrate the major double top leaving the chart neutral inside a narrow trading range between 1038.80 and 1032.70.  A trade above 1038.80 - 1039 can challenge the 1044 - 1045.50 area, which is now a very major area.  A trade above 1044.40 - 1045.50 area can challenge the 1050.60 - 1055 upper channel resistance.  A trade today below 1033.80 and 1032.70 channel supports is slightly bearish and can challenge the 1019.60 gap area and possibly near the 1011.50 bottom.  Overall, the technical condition still remains neutral to bullish and only a trade below 997.20 can bring any solid bearishness back into the chart.  Remain defensive inside the 1038.80 - 1032.70 neutral range and the 1044.40 - 1030 range.
                                                                                                                                                                                                  
Day trades:  For The Dec. contract -
 
Aggressive traders can buy dips near 1033.80 - 1032.70 area for obj. near 1037 - 1038.80 area. (Use a sell stop and rev. short at 1028). 
 
Aggressive traders can sell rallies near 1043 - 1044.40 area for obj. near 1039.50 - 1038.50 area.  (Use a buy stop and rev. long at 1047).
 
Buy stop at 1040 for obj. near 1043 - 1044.40 area.
Buy stop at 1047 for obj. near 1050 - 1052 area and possibly near 1055.
Buy stop at 1058 for obj. near 1060 - 1063 area.
 
Sell stop at 1028 for obj. near 1026 - 1024.20 bottom area.
Sell stop at 1022 for obj. near 1020 - 1019.60 gap and possibly near 1017.90 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 10/09/03 (9:50 am est) 

Short positions were taken on the opening at 1043.50.  The sell off down to 1040.50 is near enough to the 1039.50 obj. and completes the trade.

Bulletin - Originally sent 10/09/03 (9:53 am est) 

Because of the significance of the sell area at 1044.40, this trade can be repeated.  Short positions were taken again at 1043.  The obj. is 1039.50 - 1038.50.  (Continue to use a buy stop and rev. long at 1047).

Bulletin - Originally sent 10/09/03 (10:23 am est) 

Short positions were taken again at 1043.  The sell off down to 1039.60 is near enough to the 1039.50 obj. and completes the trade.

Bulletin - Originally sent 10/09/03 (12:08 pm est) 

The buy stop was hit at 1047, putting traders into long positions.  The market is showing signs of resistance in this area due to the major upper channel lines on the weekly chart, that can possibly prevent higher prices at this time. 

It is recommended for long positions to exit at the market, which is trading at 1045.90 and cut losses.

Bulletin - Originally sent 10/09/03 (2:56 pm est) 

The sell-off down to 1034.80 was near enough to the 1033.80 support buy area putting traders into long positions.  The rally up to 1038.20 meets the obj. and completes the trade. 

Bulletin - Originally sent 10/09/03 (3:33 pm est) 

Long positions were taken in the buy area at 1033.80.  The rally up to 1037 meets the obj. and completes the trade.

NOTE:  The buy area was repeated for a second time and is considered a high risk to repeat again.

Results:    10/09/03

Sold @ 1043.50 Bought @ 1040.50 = + $   750.00     
Sold @ 1043 Bought @ 1039.60 = + $   850.00
Bought @ 1047 Sold @ 1045.90 = -  $   275.00     sold as per bulletin
Bought @ 1034.80 Sold @ 1038.20 = + $   850.00     
Bought @ 1033.80 Sold @ 1037  = + $   800.00     
TOTAL (P & L)    + $2,975.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 10-10-03 :  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 Dec. contract -
1041.20 intra-day channel and 1042 peak (major area) / 1044.20 and 1045.30 peaks also 1046.70 peak and 1047.20 day top (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 -
1037.70 minor day channel and 1036.90 day channel also 1035 day channel and base (major area) / 1033.20 day bottom (major) / 1029 day bottom (major) / 1024.20 day bottom (major) / 1020.50 rev. peak and 1019.60 day gap also 1017.90 GBX channel (very major area) / 1012.70 base and 1011.20 day bottom (major area) / 1005.30 rev. base (major) / 999.30 major day channel and 997.30 day bottom also 997.20 monthly channel (very major area) / 991.70 weekly channel (very major area).
 
Comments:  
    The rally from support and sell-off from the resistance on Thursday managed to close the market at its highest closing price since June 2002, leaving the chart in neutral to bullish condition.  A trade above 1044.20 - 1047.20 area is slightly bullish but a trade above 1050.60 - 1055 area will confirm the major uptrend intact for higher prices to follow.  A trade today below 1035 - 1033.20 area is slightly bearish but a trade below 1019.60 - 1017.90 area can bring prices down to challenge the 1011.50 bottom and possibly near the 997.20 monthly channel support.  At this time, only a trade below 997.20 can bring any solid bearishness back to the chart.  Remain defensive inside the first trading area with the  1041.20 - 1044.20 resistance and 1037.70 - 1035 support.   
                                                                                                                                                                                                      
Day trades:  For The Dec. contract -
 
Aggressive traders can buy dips near 1037.70 - 1035 area or sell rallies near 1041.20 - 1044.20 area, whichever side comes first, to complete the trade.  (Use a sell stop and rev. short at 1027.70).  (Use a buy stop and rev. long at 1048.70).
 
Sell stop at 1027.70 for obj. near 1024.20 bottom and possibly near 1020.50 - 1019.60 gap area.
Sell stop at 1016 for obj. near 1013 - 1011.50 bottom.
 
Buy stop at 1048.70 for obj. near 1050.60 - 1052.50 area and possibly near 1054 - 1055 area.
Buy stop at 1058 for obj. near 1060 - 1062 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 10/10/03 (11:31 am est) 

Long positions were taken at 1037.  The market is showing signs of resistance at the 1039.70 area and failed to hold above the 1035 support. 

It is recommended to exit the long position at the market, which is trading at 1036.20 at this time, and cut losses.

Results:    10/10/03

Bought @ 1037.30 Sold @ 1036.20 = -  $   275.00
Bought @ 1035 Sold @ 1041   = + $1,500.00
TOTAL (P & L)    + $1,225.00
The week in review - 10/13/03 - 10/17/03
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 10-13-03 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the Dec. contract -
1042.50 GBX top (major) / 1044.20 newly developed major weekly channel and 1044.20 peak also 1045 and 1045.60 newly developed weekly channel and 1045.30 peak (very major area) / 1046.70 peak and 1046.90 minor weekly channel also 1047.20 weekly top (very major area) / 1048.70 major weekly upper channel and 1050 monthly upper channel also 1052.80 major weekly upper channel (very major area) / 1056.50 monthly upper channel and 1056.60 weekly upper channel (very major area) / 1061 day top (major) / 1067.50 monthly closing price and 1069 weekly closing gap for the Dec. contract also 1071 monthly top (very major area) / 1077.20 monthly closing price also 1081.40 minor weekly upper channel (very major area) / 1094 day session closing price and 1096 day top for the Dec. contract (major area). 
 
Support:  For the Dec. contract -
937.40 minor day channel (major) / 935 minor day channel and 934.10 day bottom also 933.20 day bottom (major area) / 929 day bottom and 1028.50 weekly closing price (major area) / 924.20 weekly bottom (very major area) / 1020.50 rev. peak and 1019.60 day gap also 1017.90 GBX weekly bottom (very major area) / 1011.50 day bottom (major area) / 1005.30 rev. base (major) / 1001.80 major weekly channel and 997.30 weekly bottom also 997.20 monthly channel (very major area) / 995.40 minor weekly channel and 994.10 monthly closing price (very major area) / 990 minor weekly channel and 988 weekly and monthly bottom (very major).
 
Comments:  
    Friday's neutral trading range managed to close the end of the week at it's highest closing price in 16 months, which is bullish, but still faces major resistance at the 1048.70 and 1056.50 area.  A trade above 1056.50 area will confirm the major uptrend intact for higher prices.  A trade below 1035 -1033.20 area is slightly bearish but a trade below 1024.20 can challenge the 1019.60 gap and possibly near 1011.50 day bottom.  Overall with the bullish condition, only a trade below the 1001.80 - 997.20 area can bring any solid bearishness back to the chart.  Remain defensive inside the 1045.60 - 1035 neutral trading range and also the 1056.50 - 1019.60 weekly range.
                                                                                                                                                                                                          
Day trades:  For The Dec. contract -
 
Aggressive traders can sell rallies near 1043 - 1045.60 area for obj. near 1040 - 1037.40 area.  (Use a protective buy stop at 1046.30.  Do not rev. long).
 
Aggressive traders can sell rallies near 1048.70 - 1050 area for obj. near 1044.50 - 1042.50 area.  (Use a protective buy stop at 1051.  Do not rev. long).
 
Aggressive traders can sell rallies near 1052.80 - 1056.50 area for obj. near 1050 - 1048 area.  (Use a buy stop and rev. long at 1058.70).
 
Aggressive traders can buy dips near 1037.40 - 1035 area for obj. near 1041 - 1042.50 area.  (Use a protective sell stop at 1032.  Do not rev. short).
 
Aggressive traders can buy dips near 1028.50 - 1025 area for obj. near 1032 - 1033.50 area.  (Use a sell stop and rev. short at 1022.70).
 
Buy stop at 1058.70 for obj. near 1061 - 1063 area.
Buy stop at 1064.50 for obj. near 1067.50 - 1069 area.
 
Sell stop at 1022.70 for obj. near 1020.50 - 1019.60 gap area.
Sell stop at 1016 for obj. near 1013 - 1011.50 bottom area.
Sell stop at 1008.50 for obj. near 1005.50 area and possibly near 1001.80 area.
 

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

Bulletin - Originally sent 10/13/03 (10:41 am est) 

The rally up to 1047.90 was near enough to the 1048.70 sell area, putting traders into short positions.  The obj. still remains at 1044.50 - 1042.50 area.  (Continue to use a protective buy stop at 1051.  Do not rev. long).    

Bulletin - Originally sent 10/13/03 (11:37 am est) 

Short positions were taken at 1047.70.  The sell off down to 1044.70 was near enough to the 1044.50 obj. and completes the trade.

Results:    10/13/03

Sold @ 1043 Bought @ 1046.30 = -  $   825.00             
Sold @ 1047.70 Bought @ 1044.70 = + $   750.00
TOTAL (P & L)    -  $     75.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 10-14-03 :  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 -
1046.30 peak and 1047.90 day top also 1048.70 major weekly upper channel and 1948.90 daily upper channel (very major area) / 1050 monthly upper channel and 1052.80 major weekly upper channel (very major area) / 1056.50 monthly upper channel and 1056.60 weekly upper channel (very major area) / 1061 day top (major) / 1067.50 monthly closing price and 1069 weekly closing gap for the Dec. contract (major area) / 1071 monthly top (very major area) / 1077.20 monthly closing price also 1081.40 minor weekly upper channel (very major area) / 1094 day session closing price and 1096 day top for the Dec. contract (major area). 
 
Support:  For the Dec. contract -
1041.50 intra-day channel and 1040.70 minor day channel also 1040.50 base and 1040.10 day bottom (major area) / 1039.70 GBX bottom and 1039.20 minor day channel (major area) / 1035.90 minor day channel and 1034.10 day bottom also 1033.20 day bottom (very major area) / 1029 day bottom and 1028.50 weekly closing price (major area) / 1024.20 weekly bottom (very major area) / 1020.50 rev. peak and 1019.60 day gap also 1017.90 GBX bottom (very major area) / 1011.50 day bottom (major area) / 1005.30 rev. base (major) / 1002.20 major day channel and 1001.80 major weekly channel also 997.30 weekly bottom and 997.20 monthly channel (very major area) / 995.80 day channel and 995.40 minor weekly channel also 994.10 monthly closing price (very major area) / 990 minor weekly channel and 989.50 minor day channel also 988 weekly and monthly bottom (very major area).
 
Comments:  
    Monday remained inside the neutral trading area but managed to close up for the day leaving the chart in bullish condition but still facing the 1048.70 and 1050 monthly upper channel resistances.  A trade above the 1056.50 - 1056.60 area will confirm the uptrend intact for higher prices to follow.  A trade today below 1035.90 - 1034.10 area is slightly bearish and can bring prices down to challenge the 1024.20 bottom and 1019.60 gap and possibly near the 1011.50 bottom area.  Overall, with the bullish condition remaining, only a trade below 1002.20 and 997.20 can bring any solid bearishness back to the chart.  Remain defensive inside the 1048.70 - 1039.20 neutral trading area.
                                                                                                                                                                                                              
Day trades:  For The Dec. contract -
 
Aggressive traders can buy dips near 1041 - 1039.20 area or sell rallies near 1046 - 1048.70 area, whichever side comes first, to complete the trade.  (Use a protective sell stop at 1036.  Do not rev. short).  (Use a protective buy stop at 1051.  Do not rev. long).
 
Aggressive traders can sell rallies near 1054 - 1056.50 area for obj. near 1051 - 1049 area.  (Use a buy stop and rev. long at 1058.70).
 
Buy stop at 1058.70 for obj. near 1061 - 1063 area.
Buy stop at 1064.50 for obj. near 1067 - 1069 area.
 
Sell stop at 1028 for obj. near 1026 - 1024.20 bottom area.
Sell stop at 1022.70 for obj. near 1020.50 - 1019.60 gap area.
Sell stop at 1016 for obj. near 1013.50 - 1011.50 bottom area.
Sell stop at 1009.50 for obj. near 1005.50 area and possibly near 1002. 
 

* 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 10/14/03 (9:43 am est) 

The sell off down to 1041 put traders into long positions.  The obj. still remains at 1046 - 1048.70 area.  Since 1035.90 is a very major support area, the protective sell stop at 1036 will be cancelled and changed to 1032. 

Aggressive traders can add to the long position at 1035.90 if the obj. of 1046 is not met first. 

Bulletin - Originally sent 10/14/03 (9:52 am est) 

The sell off brought prices below the 1039.20 support area putting a defensive negativity to the first trade. 

It is recommended for traders to exit the long position at the market, which is trading at 1040 at this time and scratch the trade.

Bulletin - Originally sent 10/14/03 (2:16 pm est) 

Long positions were taken at the double bottom at 1040.  The rally up to 1046 meets the obj. and completes the trade.

Bulletin - Originally sent 10/14/03 (2:25 pm est) 

NOTE:  For traders who are not familiar, yes short position were taken at the 1046 area.  The obj. is near 1042 - 1040 area.  (Continue to use a protective buy stop at 1051.  Do not rev. long).

Bulletin - Originally sent 10/14/03 (3:40 pm est) 

The short position remains open.  The sell-off down to 1044.50 missed the obj. near 1042 and showing support at 1044.50.  Technical support has developed leaving the short position defensive.

It is recommended to exit the short position at the market, which is trading at 1046 and scratch the trade. 

Results:    10/14/03

Bought @ 1041 Sold @ 1040 = -  $   250.00             
Bought @ 1040 Sold @ 1046 = + $1,500.00
Sold @ 1046 Bought @ 1046.70  = -  $   175.00       
TOTAL (P & L)    + $1,075.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 10-15-03 :  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 -
1048.90 newly developed major day channel and 1049.40 day top also 1050 monthly upper channel (very major area) / 1052.80 major weekly upper channel (very major area) / 1056.50 monthly upper channel also 1056.60 weekly upper channel (very major area) / 1061 day top (major) / 1067.50 monthly closing price and 1069 weekly closing gap for the Dec. contract (major area) / 1071 monthly top (very major area) / 1077.20 monthly closing price also 1081.40 minor weekly upper channel (very major area) / 1094 day session closing price and 1096 day top for the Dec. contract (major area).
 
Support:  For the Dec. contract -
1046.70 intra-day channels (major) / 1045.30 intra-day channel also 1045 and 1044.50 base (major area) / 1041.60 and 1041.30 base also 1041.90 and 1041 minor day channels (very major area) / 1039 day bottom and 1036.80 minor day channel (major area) / 1034.10 and 1033.20 day bottoms (major area) / 1029 day bottom and 1028.50 weekly closing price (major area) / 1024.20 weekly bottom (very major area) / 1020.50 rev. peak and 1019.60 day gap also 1017.90 GBX bottom (very major area) / 1011.50 day bottom (major area) / 1003.60 major day channel and 1001.80 major weekly channel (very major area) / 997.30 weekly bottom and 997.20 monthly channel (very major area).
 
Comments:  
    Tuesday's trading range remained inside the neutral trading area but managed to close up on the day leaving the chart in bullish condition.  The market is facing the 1052.80 major weekly upper channel and 1056.50 monthly upper channel that can stimulate selling for retracements to the downside.  A trade above 1056.50 will be considered a breakout for higher prices to follow.  A trade today below 1041 is slightly bearish and can bring prices down to challenge the 1034.10 - 1033.20 bottoms and possibly near 1019.60 gap area.  Overall with the bullish condition, only a trade below 1003.50 - 997.20 area can bring any solid bearishness back to the chart.  Remain defensive inside the 1056.50 - 1041 trading area.
                                                                                                                                                                                                                  
Day trades:  For The Dec. contract -
 
Aggressive traders can sell rallies near 1053 - 1056 area for obj. near 1044 - 1041 area.  (Use a buy stop and rev. long at 1059.50).
 
Aggressive traders can buy dips near 1042 - 1041 area for obj. near 1045 - 1046 area.  (Use a protective sell stop at 1038.  Do not rev. short).
 
Buy stop at 1059.50 for obj. near 1061 - 1063 area.
Buy stop at 1064.50 for obj. near 1067 - 1069 area.
 
Sell stop at 1032 for obj. near 1028 - 1025 area.
Sell stop at 1022.70 for obj. near 1020.50 - 1019.60 gap.
Sell stop at 1016 for obj. near 1013.50 - 1011.50 area.
Sell stop at 1009.50 for obj. near 1004 - 1002 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 10/15/03 (9:56 am est)

Short positions were taken on the opening at 1053.80.  The sell off down to 1049 is showing signs of support for short positions to consider taking profits. 

It is recommended for traders to exit the short position at 1050.50 and take profits.

Bulletin - Originally sent 10/15/03 (3:39 pm est) 

Long positions were taken at 1041.50.  The rally from the support to 1046 meets the obj. and completes the trade. 

Results:    10/15/03

Sold @ 1053.80 Bought @ 1050.50 = + $   825.00             
Bought @ 1041.50 Sold @ 1046 = + $1,125.00
TOTAL (P & L)    + $1,950.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 10-16-03 :  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 -
1046.80 and 1046.90 double peak (major area) / 1048.50 double peak and 1049.30 peak (major area) / 1051 peak (major) / 1053.80 day top and 1055.20 GBX top also 1056.50 monthly upper channel also 1056.60 weekly upper channel (very major area) / 1061 day top (major) / 1067.50 monthly closing price and 1069 weekly closing gap for the Dec. contract (major area) / 1071 monthly top (very major area) / 1077.20 monthly closing price also 1081.40 minor weekly upper channel (very major area) / 1094 day session closing price and 1096 day top for the Dec. contract (major area).
 
Support:  For the Dec. contract -
1044.30 minor day channel (major) / 1042.30 intra-day channel and 1041.50 day bottom (major area) / 1039 day bottom and 1037.70 minor day channel (very major area) / 1034.10 and 1033.20 day bottoms (major area) / 1029 day bottom and 1028.50 weekly closing price (major area) / 1024.20 weekly bottom (very major area) / 1020.50 rev. peak and 1019.60 day gap also 1017.90 GBX bottom (very major area) / 1011.50 day bottom (major) / 1004.90 major day channel (very major area) / 1001.80 major weekly channel and 997.30 weekly bottom also 997.20 monthly channel (very major area).
 
Comments:  
    The sell-off on Wednesday from the major resistance proved the significance of the area but the daily support managed to hold on Wednesday keeping the chart in neutral to slightly bullish condition.  A trade below the 1042.30 channel and 1037.70 channel is slightly bearish but a trade below 1024.20 bottom and 1019.60 gap area can bring prices down to challenge the 1004.90 major day channel and possibly near the 1001.80 - 997.20 major monthly channels.  A trade today above the 1046.90 and 1049.30 peaks is slightly bullish but only a trade above the 1056.60 monthly channel can bring any solid bullishness back to the chart.  Remain defensive inside the first neutral trading area between 1046.80 - 1037.70.
                                                                                                                                                                                                                      
Day trades:  For The Dec. contract -
 
Aggressive traders can sell rallies near 1045 - 1048 area for obj. near 1042 - 1039 area.  (Use a protective buy stop at 1049.70.  Do not rev. long).
 
Aggressive traders can sell rallies near 1054 - 1056.50 area for obj. near 1049.50 - 1047 area.  (Use a buy stop and rev. long at 1059.60).
 
Aggressive traders can buy dips near 1039 - 1037.70 area for obj. near 1042 - 1044 area.  (Use a sell stop and rev short at 1036).
 
Buy stop at 1059.60 for obj. near 1061 - 1063 area.
Buy stop at 1064.50 for obj. near 1067 - 1069 area.
 
Sell stop at 1036 for obj. near 1034.20 - 1033 area and possibly near 1032.50.
Sell stop at 1031 for obj. near 1028 - 1026 area.
Sell stop at 1022.70 for obj. near 1020.50 - 1019.60 gap area.
Sell stop at 1016.50 for obj. near 1013.50 - 1011.50 area.
Sell stop at 1008.50 for obj. near 1005.50 - 1004.90 area and possibly near 1001.80 channel.
 

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

Bulletin - Originally sent 10/16/03 (9:39 am est) 

The market opened between the buy area and sell area.  Because of the bearish conditions now developing, the buy at 1039 - 1037.70 will be cancelled. 

The sell area near 1045 - 1048 area will remain intact and short positions will be taken in that area if it gets there.

Bulletin - Originally sent 10/16/03 (10:03 am est) 

The rally up to 1045 put traders into short positions.  The sell off down to 1042.80 made an intra-day double bottom and was near enough to the 1042 obj. and should be considered the buying area to complete the first trade. 

Bulletin - Originally sent 10/16/03 (10:21 am est) 

The rally up to 1047 is at the high end of the sell area, where short positions were taken again.  The obj. will be 1044 - 1043 area.  (Continue to use a protective buy stop at 1049.70.  Do not rev. long).

Bulletin - Originally sent 10/16/03 (10:36 am est) 

Short positions were taken at 1047.  The sell off down to 1044.50 is near enough to the 1044 obj. and completes the trade.

Results:    10/16/03

Sold @ 1045 Bought @ 1042.80 = + $   550.00             
Sold @ 1047 Bought @ 1044.50 = + $   625.00
TOTAL (P & L)    + $1,175.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 10-17-03 :  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 -
1049.20 minor day channel with GBX prices and 1050 double peak also 1050.60 minor day channel (major area) / 1052.20 day top (major) / 1053.80 day top (major) / 1055.20 GBX top and 1056.50 monthly upper channel also 1056.60 weekly upper channel (very major area) / 1061 day top (major) / 1067.50 monthly closing price and 1069 weekly closing gap for the Dec. contract (major area) / 1071 monthly top (very major area) / 1077.20 monthly closing price also 1081.40 minor weekly upper channel (very major area) / 1094 day session closing price and 1096 day top for the Dec. contract (major area).
 
Support:  For the Dec. contract -
1047.80 base (major) / 1046.50 base and 1046.30 newly developed day channel also 1046 intra-day gap (very major area) / 1044.30 intra-day gap and 1043.20 minor day channel also 1043.60 and 1043 base (major area) / 1041.80 and 1041.50 day bottoms (major area) / 1039 day bottom and 1038.60 minor day channel (very major area) / 1034.10 and 1033.20 day bottoms (major area) / 1029 day bottom and 1028.50 weekly closing price (major area) / 1024.20 weekly bottom (very major area) / 1020.50 rev. peak and 1019.60 day gap also 1017.90 GBX bottom (very major area) / 1011.50 day bottom (major) / 1006.40 major day channel (very major area) / 1001.80 major weekly channel and 997.30 weekly bottom also 997.20 monthly channel (very major area).
 
Comments:  
    Thursday's trading range remained inside the neutral area.  The low for Thursday was below the first support channel but managed to close up for the day, leaving the chart neutral inside a narrow trading range between 1049.20 and 1046.30.  A trade above 1049.20 - 1050.60 area can bring prices up near the 1056.50 monthly channel.  A trade above 1056.50 will be considered a breakout for higher prices to follow.  A trade below 1046.30 can bring prices down to challenge the 1039 - 1038.60 area and possibly near 1034.10 - 1033.20 bottoms.   A trade below 1024.20 weekly bottom is bearish for prices to challenge the 1011.50 bottom and possibly near 1006.40 day channel.  Remain defensive inside the narrow neutral range between 1049.20 - 1046.30.
                                                                                                                                                                                                                          
Day trades:  For The Dec. contract -
 
Aggressive traders can sell near 1048.50 - 1049.50 area or buy dips near 1047 - 1046.30 area, whichever side comes first to complete the trade.  (Use a protective buy stop at 1051.20.  Do not rev. long).  (Use a sell stop and rev. short at 1045).
 
Aggressive traders can sell rallies near 1055 - 1056.50 area for obj. near 1050 - 1048 area.  (Use a buy stop and rev. long at 1059.70).
 
Sell stop at 1045 for obj. near 1042 - 1041 area and possibly near 1039.
Sell stop at 1037 for obj. near 1034.70 - 1033.70 area.
Sell stop at 1031 for obj. near 1029 - 1027 area.
Sell stop at 1022.70 for obj. near 1019.60 gap - 1017.90 area.
 
Buy stop at 1059.70 for obj. near 1061 - 1063 area.
Buy stop at 1064.50 for obj. near 1067 - 1069 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 10/17/03 (9:52 am est) 

Short positions were taken at 1049.50 on the open.  The sell-off down to 1047.50 is near enough to the 1047 obj. and completes the trade.

Bulletin - Originally sent 10/17/03 (9:57 am est) 

The first trade was completed with a profit.  Traders using the E-mini should get familiar with using stops above the 1051.20 to protect the position knowing the e-mini can possibly trade above the big contract on occasion. 

Bulletin - Originally sent 10/17/03 (10:05 am est) 

The sell stop was hit at 1045 putting traders into short positions.  The sell off down to 1042.70 is near enough to the 1042 obj. and completes the trade.

Bulletin - Originally sent 10/17/03 (2:40 pm est) 

The sell-stop was hit at 1037 putting traders into short positions.  For whatever reason this area is now showing signs of support, which is being developed inside the intra-day chart. 

It is recommended for traders to exit short positions at the market, which is trading at 1037.90 at this time, and cut losses.

Results:    10/17/03

Sold @ 1049.50 Bought @ 1047.50 = + $   500.00             
Sold @ 1045 Bought @ 1042.70 = + $   575.00
Sold @ 1037 Bought @ 1037.90 = -  $   225.00     bought as per bulletin
TOTAL (P & L)    + $   850.00
The week in review - 10/20/03 - 10/24/03
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 10-20-03 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the Dec. contract -
1038.50 and 1040.80 peaks also 1040 and 1040.80 intra-day channels (major area) / 1042.20 and 1042.70 peaks also 1043.50 and 1044.50 peaks (major area) / 1048.60 and 1049.30 minor day channels (very major area) / 1050.80 and 1052.20 day tops also 1052.20 major weekly channel (very major area) / 1053.10 and 1053.90 weekly channels also 1053.80 day top (very major area) / 1055 minor weekly channel and 1055.20 GBX channel also 1056.50 monthly upper channel (very major area) / 1061 day top and 1061 minor weekly upper channel, also 1061.10 daily upper channel (major area) / 1067.50 monthly closing price and 1069 weekly closing gap for the Dec. contract (major area) / 1071 monthly top (very major area).
Support:  For the Dec. contract -
1036.10 and 1035.60 minor day channels (major area) / 1034.10 and 1033.20 daily bottoms (major area) / 1029 day bottom and 1028.50 weekly closing price (major area) / 1024.20 weekly bottom (very major area) / 1020.20 rev. peak and 1019.60 day gap also 1017.90 GBX daily bottom (very major area) / 1011.50 day bottom (major) / 1007.80 major day channel (very major area) / 999.70 and 998.90 day channels also 997.30 day bottom and 997.20 major monthly channel (very major area) / 994.40 minor day channel and 992 minor day channel (very major area).
Comments:  
    The sell-off on Friday from the major resistance brought prices down closing below the last 5 days closing prices and also settled down for the week.  This closing price is technically considered a minor key reversal and slightly bearish.  At this time, only a trade above the 1048.60 and 1049.30 channels can bring any solid bullishness back to the chart.  Remain defensive inside the first neutral trading range between 1040.80 and 1035.60.
                                                                                                                                                                                                                              
Day trades:  For The Dec. contract -
 
Aggressive traders can sell rallies near 1039 - 1040 area for obj. near 1036.50 - 1035.60 area.  (Use a protective buy stop at 1043.  Do not rev. long).
 
Aggressive traders can sell rallies near 1048 - 1049.30 area for obj. near 1042.50 - 1041 area.  (Use a buy stop and rev. long at 1058.30).
 
Buy stop at 1058.30 for obj. near 1060.30 - 1061 area.
Buy stop at 1064.50 for obj. near 1067 - 1069 area.
 
Sell stop at 1032 for obj. near 1029 - 1028.50 area
Sell stop at 1022.70 for obj. near 1020.50 - 1019.60 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 10/20/03 (9:40 am est) 

Short positions were taken at 1039.40 on the opening.  The sell off down to 1038 is now an intra-day support for traders to consider taking profits. 

It is recommended to exit the short position and scratch the trade.  The market is trading at 1038.50 at this time.

Results:    10/20/03

Sold @ 1039.40 Bought @ 1038.50 = + $   225.00
TOTAL (P & L)    + $   225.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 10-21-03 :  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 -
1046.40 and 1047.40 minor day channels (major area) / 1049.70 intra-day channel (very major area) / 1052.20 major weekly channel and 1052.20 day top also 1053.10 weekly channel and 1053.80 day top (very major area) / 1055 minor weekly channel and 1055.20 GBX weekly top also 1056.50 monthly upper channel (very major area) / 1061 day top and 1061.10 minor weekly upper channel (major area) / 1067.50 monthly closing price and 1069 weekly closing gap for the Dec. contract (major area) / 1071 monthly top (very major area) / 1077.20 monthly closing price (major area) / 1090 minor weekly upper channel (major area) / 1094 day session closing price and 1096 day top for the Dec. contract (major area).
 
Support:  For the Dec. contract -
1044 intra-day channel (major) / 1042.70 intra-day channel and 1042 base also 1041.50 and 1041 rev. peaks (major area) / 1037.50 newly developed day channel and 1037 base (very major area) / 1036.30 base and 1035.30 minor day channel (major area) / 1034.20 and 1034.10 day bottoms also 1032.20 day bottom (major area) / 1029 day bottom and 1028.50 weekly closing price (major area) / 1024.20 weekly bottom (very major area) / 1020.50 rev. peak and 1019.60 day gap also 1017.90 GBX daily bottom (very major area) / 1011.50 day bottom (major) / 1009.30 major day channel and 1008.60 major weekly channel (very major area) / 1000.50 day channel and 1000.10 weekly channel also 999.60 day channel and 999.10 minor weekly channel (very major area) / 997.30 day bottom and 997.20 major monthly channel (very major area) / 994.90 and 992.30 minor day channels (major area).
 
Comments:  
    The rally on Monday from the support area managed to close the session up leaving the chart neutral inside the 1047.40 - 1052.20 major resistance and the 1044 - 1037.50 major support.  A trade above 1052.20 area can bring prices up to challenge the 1055.20 - 1056.50 area.  A trade above 1056.50 will be considered a breakout for higher prices.  A trade today below 1037.50 - 1035.30 is slightly bearish but a trade below 1024.20 weekly bottom can bring prices down to possibly challenge the 1009.30 major day channel and 997.20 major monthly channel.  Remain defensive inside the first trading area between 1052.20 and 1037.50 area.
                                                                                                                                                                                                                                  
Day trades:  For The Dec. contract -
 
Aggressive traders can sell rallies near 1049 - 1052 area for obj. near 1044 - 1042.70 area.  (Use a buy stop and rev. long at 1058.70).
 
If rallies continue before the first trade is complete, then aggressive traders can sell rallies near 1055 - 1056.50 area, which will add to the short position taken from the first trade.  The obj. will be to exit both short positions near 1049 - 1047 area.  (Use a buy stop and rev. long at 1058.70).
 
Aggressive traders can buy dips near 1039.50 - 1037.50 area for obj. near 1042 - 1044 area.  (Use a sell stop and rev. short at 1032).
 
Buy stop at 1058.70 for obj. near 1060.50 - 1061 area.
Buy stop at 1064 for obj. near 1067 - 1069 area.
 
Sell stop at 1032 for obj. near 1029 - 1028.50 area and possibly near 1027.
Sell stop at 1022.70 for obj. near 1020.50 - 1019.60 gap area.
Sell stop at 1016 for obj. near 1011.50 - 1009.30 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 10/21/03 (9:35 am est) 

The market is showing signs of support at the intra-day channel of 1042.70 area. 

Aggressive traders can attempt long positions near 1043.  The obj. is to exit near 1046 - 1047 area.  (Use a protective sell stop at 1040.70.  Do not rev. short). 

Bulletin - Originally sent 10/21/03 (9:49 am est) 

The market failed to hold the 1042.70 support channel.

It is recommended to exit the long position at the market, which is trading at 1042.50 and scratch the trade.

Bulletin - Originally sent 10/21/03 (3:49 pm est) 

Customers were calling to ask if the first trade was in play and how should they handle the position.

Yes the first trade listed in the report was in play from 1047.70 and a confirmation of the entry was when the market had an intra-day  double top at 1047.50 put traders into short positions.  The sell-off down to 1044 meets the obj. and completes the trade.

Since the 1052.20 resistance is so significant traders can repeat this trade at the high end of the sell area, which is near 1052.20.  The sell area at 1055 - 1056.50 will still be considered a sell.  (Continue to use a buy stop and rev long at 1058.70).

Results:    10/21/03

Bought @ 1042.70 Sold @ 1042.50   = -  $     50.00     bought as per bulletin / sold as per bulletin     
Sold @ 1047.70 Bought @ 1044 = + $   925.00
TOTAL (P & L)    + $   875.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 10-22-03 :  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 -
1044.50 intra-day channel and peak also 1045.50 peak and 1046.20 minor day channel (major area) / 1047.70 day top and 1048 GBX day channel (major area) / 1050.80 day top and 1052.20 day top also 1052.20 major weekly channel and 1053.80 day top (very major area) / 1055.20 GBX top and 1056.50 monthly upper channel (very major area) / 1061 day top and 1061.10 minor weekly upper channel (major area) / 1067.50 monthly closing price and 1069 weekly closing gap for the Dec. contract (major area) / 1071 monthly top (very major area).
 
Support:  For the Dec. contract -
1041 day bottom and 1040.80 day channel also 1039.20 base (major area) / 1036.40 day channel (very major area) / 1034.20 and 1034.10 day bottoms also 1033.20 day bottom (major area) / 1029 day bottom and 1028.50 weekly closing price (major area) / 1024.20 weekly bottom (very major area) / 1020.50 rev. peak and 1019.60 day gap also 1017.90 GBX daily bottom (major area) / 1011.50 day bottom and 1010.70 major day channel (very major area) / 1001.40 day channel and 1000.40 day channel (major area) / 997.30 day bottom and 997.20 major monthly channel (very major area) / 995.30 and 992.60 minor day channels (major area).
 
Comments:  
    The whiplashing action in Tuesday's session managed to close slightly lower leaving the chart neutral to slightly bearish inside a narrow trading range between 1046.20 and 1040.80.  The wider range of 1052.20 and 1036.40 is significant.  A trade above 1052.20 - 1056.50 area can bring prices into a major uptrend.  A trade today below 1040.80 is slightly bearish but a trade below the 1036.40 channel and 1034.20 - 1033.20 bottom area will challenge prices down near the 1024.20 - 1019.60 gap and possibly down near the 1010.70 major day channel.  Remain defensive inside the wider trading range between 1052.20 and 1036.40 area.       
                                                                                                                                                                                                                                  
Day trades:  For The Dec. contract -
 
Aggressive traders can buy dips near 1036.40 - 1034.10 area for obj. near 1040 - 1041 area.  (Use a sell stop and rev. short at 1032).
 
Aggressive traders can sell rallies near 1044 - 1046 area for obj. near 1041 - 1040.80 area.  (Use a protective buy stop at 1049.  Do not rev. long).
 
Sell stop at 1032 for obj. near 1029 - 1028.50 area and possibly near 1027.
Sell stop at 1022.70 for obj. near 1019.60 gap - 1018 area.
Sell stop at 1016 for obj. near 1011.50 - 1010.70 area.
 
Buy stop at 1058.70 for obj. near 1060.50 - 1061.
Buy stop at 1064 for obj. near 1067 - 1069 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 10/22/03 (10:22 am est) 

Long positions were taken on the open at 1035.  The technical formation can possibly hold support but the market failed to hold above the 1033.20 bottom putting bearishness into the chart.

It is recommended to exit the long position at the market, which is trading at 1035 and scratch the trade.

Bulletin - Originally sent 10/22/03 (12:02 pm est) 

The sell stop was hit at 1032, putting traders into short positions.  The intra-day double bottom at 1030.30 - 1030.50 can prove to be a technical support.

It is recommended for traders to exit the short position near 1032 and scratch the trade.

Results:    10/22/03

Bought @ 1035 Sold @ 1036.30   = + $   325.00     sold as per bulletin     
Sold @ 1032 Bought @ 1031.70 = + $     75.00     bought as per bulletin
TOTAL (P & L)    + $   400.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 10-23-03 :  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 -
1030.70 intra-day channel and peak also 1031.20 peak (major area) / 1032.50 peak (major) / 1036.50 day top and 1037.80 weekly closing price (major area) / 1043.40 day gap and 1044.20 GBX top (major area) / 1045.20 minor day channel and 1046.50 GBX channel (very major area) / 1047.70 day top and 1049.40 GBX top (major) / 1050.80 day top and 1052.20 day top also 1052.20 major weekly channel and 1053.80 day top (very major area) / 1055.20 GBX top and 1056.50 monthly upper channel (very major area) / 1061 day top and 1061.10 minor weekly upper channel (major area) / 1067.50 monthly closing price and 1069 weekly closing gap for the Dec. contract (major area) / 1071 monthly top (very major area).
 
Support:  For the Dec. contract -
1028.90 newly developed day channel and 1026.50 day bottom (major area) / 1024.20 weekly bottom (major area) / 1020.50 rev. peak and 1019.60 day gap also 1017.90 GBX bottom (very major area) / 1012.10 major day channel and 1011.50 day bottom (major area) / 1008.60 major weekly channel (very major area) / 1002.20 and 1001.20 day channels also 1000.10 weekly channel (major area) / 999.10 minor weekly channel and 997.30 weekly bottom also 997.20 major monthly channel (very major area) / 995.80 minor day channel and 994.10 monthly gap (major area) / 992.90 minor day channel (major) / 988 weekly bottom (very major area).
 
Comments:  
    The sell-off and close on Wednesday brought prices down below the first major support area leaving the chart in neutral to bearish condtion.  As mentioned in Wednesday's comments, now that prices are below the first support area it is subject to challenge the 1024.20 - 1019.60 gap area and possibly near the 1012.10 - 1008.60 major channel support.  A trade below 1008.60 is bearish but a trade below the 997.20 monthly channel will be considered a major failure and a reversal of the trend to the downside.  At this time, only a trade above the 1045.20 - 1046.50 area can bring any solid bullishness back to the chart.  Remain defensive inside the first trading area between 1032.50 - 1019.60 and also inside the wider trading area between 1045.20 and 1008.60 areas.
                                                                                                                                                                                                                                      
Day trades:  For The Dec. contract -
 
Aggressive traders can attempt long positions near 1020.50 - 1019.60 gap area for obj. near 1024 - 1026 area.  (Use a sell stop and rev. short at 1016).
 
Aggressive traders can sell rallies near 1030.70 - 1032.50 area for obj. near 1028.90 - 1026.50 area.  (Use a buy stop and rev long at 1038.50).
 
Aggressive traders can sell rallies near 1043.40 gap - 1045.20 area, if it gets there, for obj. near 1039.50 - 1038.50 area.  (Use a protective buy stop at 1053.  Do not rev. long).
 
Aggressive traders can attempt long positions near 1008.60 area for obj. near 1012 - 1014 area.  (Use a sell stop and rev. short at 1005.60).
 
Buy stop at 1038.50 for obj. near 1040.50 - 1043.40 gap.
 
Sell stop at 1016 for obj. near 1013 - 1011.50 area and possibly near 1008.60.
Sell stop at 1005.60 for obj. near 1002.20 - 1001.20 area and possibly near 1000.10.
 

* 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 10/23/03 (3:01 pm est) 

Short positions were taken at 1031 and completed with meeting the obj. at 1028.50 in the second trade listed. 

The trade was repeated at the high end of the sell area by taking a short position at 1032.50.  The sell-off down to 1029 is near enough to the 1028.90 obj. and completes the trade.

Results:    10/23/03

Sold @ 1030 Bought @ 1028.50   = + $   375.00          
Sold @ 1031 Bought @ 1028.50 = + $   625.00
Sold @ 1032.50 Bought @ 1029 = + $   8 75.00     bought as per bulletin
TOTAL (P & L)    + $1,875.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 10-24-03 :  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 -
1030.80 intra-day channel and 1032.10 minor day channel also 1032.40 peak (very major area) / 1033.80 GBX channel and 1034.30 day top (major) / 1036.50 day top and 1037.80 weekly closing price (major area) / 1041 rev. base and 1043.10 minor day channel also 1043.40 day gap (very major area) / 1045.10 GBX channel (very major area) / 1047.70 day top and 1049.40 GBX top (major area) / 1050.80 and 1052.20 day tops also 1052.20 major weekly channel (very major area) / 1053.80 weekly day top (major) / 1055.20 GBX top and 1056.50 monthly upper channel (very major area) / 1061 day top and 1061.10 minor weekly upper channel (major area) / 1067.50 monthly closing price and 1069 weekly closing gap for the Dec. contract (major area) / 1071 monthly top (very major area).
 
Support:  For the Dec. contract -
1028 triple base (major) / 1026.50 intra-day channel and base also 1025.90 newly developed day channel (major area) / 1023.80 day bottom (major) / 1020.50 rev. peak and 1019.60 day gap also 1017.90 GBX bottom (very major area) / 1013.50 major day channel and 1011.50 day bottom (very major area) / 1008.60 major weekly channel (very major area) / 1003.10 and 1002 day channels (major area) / 1000.10 and 999.10 minor weekly channels (very major area) / 997.30 weekly bottom and 997.20 major monthly channel (very major area) / 996.20 minor day channel (major) / 993.20 minor day channel (major) / 988 weekly bottom (very major area).
 
Comments:  
    The whiplashing action on Thursday proved the neutral to bearish condition by closing lower.  The market still faces the 1019.60 day gap and 1013.50 major day channel supports that could prove to be significant.  A trade below the 1008.60 weekly channel is bearish and a trade below 997.20 monthly channel will confirm the bearish condition and rev. the major trend to the downside.  A trade today above 1032.10 - 1034.30 area is slightly bullish but only a trade above 1043.10 - 1045.10 area can bring any solid bullishness back to the chart.  Remain defensive inside the 1032.10 - 1019.60 trading area and also inside the wide area between 1043.10 and 1013.50.
                                                                                                                                                                                                                                          
Day trades:  For The Dec. contract -
 
Aggressive traders can sell rallies near 1030 - 1032.10 area and if possible near 1034 for obj. near 1027 - 1025.90 area.  (Use a buy stop and rev. long at 1038.50).
 
Aggressive traders can buy dips near 1020.50 - 1019.60 area and if possible near 1017.90 for obj. near 1023 - 1025 area.  (Use a sell stop and rev. short at 1016).
 
Buy stop at 1038.50 for obj. near 1040.50 - 1043.40 gap area.
 
Sell stop at 1016.50 for obj. near 1014.50 - 1013.50 area and possibly near 1011.50 bottom.
Sell stop at 1005.60 for obj. near 1003.60 - 1002 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 10/24/03 (11;46 am est) 

Long positions were taken at 1020.50.  The rally up to 1022.50 is near enough to the 1023 obj. and completes the trade.

Long positions were taken again at the low end of the buy area at 1017.90.  The obj. to exit is now at 1021 - 1022 area.  (Continue to use a sell stop and rev short at 1016).

Bulletin - Originally sent 10/24/03 (12:55 pm est) 

The long positions taken at 1017.90 failed to meet the obj. at 1021 because of the resistance that developed at 1019.80. 

 It is recommended to exit the long position at the market, which is trading at 1018 at this time, and scratch the trade.

Results:    10/24/03

Bought @ 1020.50 Sold @ 1022.50 = + $   500.00
Bought @ 1017.90 Sold @ 1018 = + $     25.00     
TOTAL (P & L)    + $   525.00
The week in review - 10/27/03 - 10/31/03
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 10-27-03 :  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 Dec. contract -
1029.90 minor day channel and 1030.20 day top (major area) / 1032.40 and 1033.50 peaks also 1034.30 day top (major area) / 1036.50 day top and 1037.80 weekly closing price (major area) / 1041.50 day channel and 1043.40 day gap also 1043.60 minor weekly channel (very major area) / 1047.70 weekly top and 1049.20 major weekly channel also 1049.40 GBX weekly top (very major area) / 1050.80 day top and 1051 weekly channel also 1052 day top and 1052.20 weekly channel (very major area) / 1053.80 and 1054.70 minor weekly channel (very major area) / 1055.20 GBX weekly top and 1056.50 monthly upper channel (very major area) / 1058.90 daily upper channel and 1059.30 minor weekly upper channel also 1061 day top (major area) / 1066.20 daily upper channel and 1067.50 monthly closing price also 1069 weekly closing gap for the Dec. contract (major area) / 1071 monthly top (very major area).
 
Support:  For the Dec. contract -
1027.50 base and 1027 intra-day channel also 1026.90 and 1026.80 base (major area) / 1024.50 intra-day gap and 1024.50 base (major area) / 1023.20, 1022.80 and 1022.20 base area (major area) / 1018.70 and 1018 bases also 1018.10 day channel (major area) / 1016.50 weekly bottom and 1015.50 major weekly channel also 1015 day channel (very major area) / 1011.50 day bottom (major) / 1004.20 weekly channel and 1002.80 minor weekly channel also 1001.90 day channel (very major area) / 997.30 weekly bottom and 997.20 major monthly channel also 996.30 day channel (very major area) / 994.10 monthly closing price and 988 monthly bottom (major area).
 
Comments:  
    The sell-off and recovery on Friday proved the significance of the area leaving the chart in neutral condition.  The market managed to close up on the day leaving the chart neutral inside the first trading area between 1030.20 and 1022.20 area.  A breakout to either side of the major weekly trading area between 1049.20 and 1015.50 can possibly prove to point a direction.  Remain defensive inside both trading areas until a solid direction can be established.
                                                                                                                                                                                                                                              
Day trades:  For The Dec. contract -
 
Aggressive traders can sell rallies near 1033 - 1036 area for obj. near 1029.50 - 1027.50 area.  (Use a buy stop and rev. long at 1038.70).
 
Aggressive traders can sell rallies near 1041 - 1043.40 area for obj. near 1039 - 1037 area.  (Use a protective buy stop at 1045.20.  Do not rev. long).
 
Aggressive traders can buy dips near 1018.70 - 1016.50 area and if possible near 1015.50 - 1015 area for obj. near 1024 - 1025 area.  (Use a sell stop and rev. short at 1010).
 
Buy stop at 1038.70 for obj. near 1040.50 - 1041 area and possibly near 1043.40 - 1043.60 area.
 
Sell stop at 1010 for obj. near 1006 - 1004.20 area and possibly near 1002.80.
 

* 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 10/27/03 (11:04 am est) 
Short positions were taken at 1033 and 1036.  The sell off down to 1030.50 is near enough to the 1029.50 obj. and completes the trade.

Results:    10/27/03
Sold @ 1033 Bought @ 1030.50 = + $   625.00     bought as per bulletin
Sold @ 1036 Bought @ 1030.50 = + $1,375.00     bought as per bulletin     
TOTAL (P & L)    + $2,000.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 10-28-03 :  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 Dec. contract -
1032.20 and 1032.70 peaks also 1033.30 and 1033.70 newly developed day channels (very major area) / 1036.50 double top and 1037.80 weekly closing price (major area) / 1040 day channel and 1042.20 GBX channel also 1043.40 day gap (very major area) / 1047.70 weekly top and 1049.20 major weekly channel also 1049.40 GBX weekly top (very major area) / 1050.80 day top and 1051 weekly channel also 1052 day top and 1052.20 weekly channel (very major area) / 1053.80 day top and 1054.70 minor weekly channel (very major area) / 1055.20 GBX weekly top and 1056.50 monthly upper channel also 1057.50 weekly upper channel (very major area) / 1059.30 daily upper channel and 1059.30 minor weekly upper channel also 1061 day top (major area) / 1067.20 daily upper channel and 1067.50 monthly closing price also 1069 weekly closing gap for the Dec. contract (major area) / 1071 monthly top (very major).
 
Support:  For the Dec. contract -
1029.50 intra-day channel and gap also 1029 intra-day channel and base (major area) / 1028.60 base and 1027.30 day bottom (major area) / 1022.20 base and 1019.60 day channel (major area) / 1016.50 weekly bottom and 1016.30 major day channel also 1015.50 major weekly channel (very major area) / 1011.50 day bottom (major) / 1004.70 day channel and 1004.20 weekly channel also 1003.50 day channel and 1002.80 minor weekly channel (major area) / 997.30 weekly bottom and 997.20 major monthly channel also 997.20 day channel (very major area) / 994.10 monthly closing price and gap (major area) / 988 weekly bottom (very major area).
 
Comments:  
    The whiplashing action on Monday proved the neutral condition leaving the chart neutral again inside the major trading range between 1049.20 and 1016.30.  A breakout to either side can possibly point a direction.  Remain defensive inside the first trading area today between 1033.70 and 1022.20.
                                                                                                                                                                                                                                                  
Day trades:  For The Dec. contract -
 
If the day session opens below 1033.70 Aggressive traders can sell rallies near 1032 - 1033.70 area for obj. near 1029.50 - 1028.60 area.  (Use a buy stop and rev. long at 1036.70).
 
Aggressive traders can buy dips near 1020 - 1016.30 area for obj. near 1023 - 1025 area.  (Use a sell stop and rev. short at 1014.70).
 
Aggressive traders can sell rallies near 1040 - 1042.20 area and if possible near 1043.40 gap for obj. near 1037 - 1035 area.  (Use a protective buy stop at 1045.20.  Do not rev. long).
 
Aggressive traders can buy dips near 1004.70 - 1002.80 for obj. near 1008 - 1010 area.  (Use a protective sell stop at 1001.70.  Do not rev. short).
 
Sell stop at 1026.30 for obj. near 1023.50 - 1022.20 area.
Sell stop at 1014.70 for obj. near 1012.50 - 1011.50 bottom.
Sell stop at 1009 for obj. near 1004.70 - 1002.20 area.
 
Buy stop at 1036.70 for obj. near 1039.70 - 1042.20 area.
Buy stop at 1057 for obj. near 1059 - 1061 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 10/28/03 (9:45 am est)  

NOTE:  The market opened above 1033.70 and therefore short positions were not taken.  The 1033.70 resistance can now be used as support. 
 
The next trade is the buy stop at 1036.70 or the sell stop at 1026.30.

Bulletin - Originally sent 10/28/03 (10:40 am est)   

The buy stop was hit at 1036.70, putting traders into long positions.  The rally up to 1037.80 is showing signs of resistance because of the weekly settling price at that area for possible retracements to the downside.
 
It is recommended to exit long positions at the market, which is trading at 1035.50 and cut losses. 

Results:    10/28/03
Bought @ 1036.70 Sold @ 1035.50 = -  $   300.00     sold as per bulletin
Sold @ 1040 Bought @ 1045.20 = -  $1,300.00
Sold @ 1043.40 Bought @ 1045.20 = -  $   450.00     
TOTAL (P & L)    -  $2,050.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 10-29-03 :  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 -
1044.90 newly developed day channel and 1046 day top (major area) / 1047.70 weekly top and 1049.20 major weekly channel also 1049.40 GBX weekly top (very major area) / 1050.80 day top and 1051 weekly channel also 1052 day top and 1052.20 weekly channel (very major area) / 1053.80 day top and 1054.70 minor weekly channel (very major area) / 1055.20 GBX weekly top and 1056.50 monthly upper channel also 1057.50 weekly upper channel (very major area) / 1059.30 minor weekly upper channel also 1061 day top (major area) / 1067.50 monthly closing price and 1068 daily upper channel also 1069 weekly closing gap for the Dec. contract (major area) / 1071 monthly top (very major area) / 1094 day session closing price and 1096 day top for the Dec. contract (major area). 
 
Support:  For the Dec. contract -
1041 day channel and 1039 base also 1038 intra-day channel (major area) / 1036.50 day channel with GBX prices (major area) / 1034.20 and 1034 base also 1032.80 day bottom (major area) / 1030.70 day gap and 1029.80 GBX bottom also 1027.30 day bottom (very major area) / 1021.20 day channel (major area) / 1017.70 major day channel and 1016.50 weekly bottom also 1015.50 major weekly channel (very major area) / 1011.50 day bottom (major) / 1005.60 day channel and 1004.30 day channel (major area) / 997.30 weekly bottom and 997.20 major monthly channel (very major area).
 
Comments:  
    The rally on Tuesday put the market in neutral to slightly bullish condition but it faces the major resistance at 1049.20 - 1052.20 channels.  A trade above 1049.20 - 1052.20 is bullish and a trade above 1055.20 - 1057.50 area will be considered a breakout for higher prices.  A trade today below 1036.50 is slightly bearish but only a trade below 1027.30 - 1026 area can bring any solid bearishness back to the chart.  Remain defensive inside the 1049.20 - 1036.50 trading area until a solid signal is seen.   
                                                                                                                                                                                                                                                      
Day trades:  For The Dec. contract -
 
Aggressive traders can buy dips near 1042 - 1041 area or sell rallies near 1045 - 1049 area, whichever side comes first to complete the trade.  (Use a sell stop and rev. short at 1039).  (Use a protective buy stop at 1050.  Do not rev. long).
 
Sell stop at 1039 for obj. near 1037 - 1036.50 area.
Sell stop at 1035 for obj. near 1033 - 1032 area and possibly near 1030.70 gap.
Sell stop at 1023 for obj. near 1021 - 1017.70 area.
 
Buy stop at 1059 for obj. near 1061 - 1063 area.
Buy stop at 1064.50 for obj. near 1067 - 1069 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 10/29/03 (9:55 am est)    

Long positions were taken at 1042.  The rally up to 1044 was near enough to the 1045 obj. and completes the trade.  Traders still holding long positions should consider exiting the trade at the market, which is trading at 1042.80. 

Bulletin - Originally sent 10/29/03 (2:10 pm est)    

Short positions were taken at 1047.  The sell-off down to 1042 meets the obj. and completes the trade.

Results:    10/29/03
Bought @ 1042 Sold @ 1044 = + $   500.00
Sold @ 1047 Bought @ 1042 = + $1,250.00    
TOTAL (P & L)    + $1,750.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 10-30-03 :  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 -
1047.80 newly developed day channel and 1048.50 day top also 1049.20 major weekly channel and 1049.40 GBX weekly top (very major area) / 1050.80 day top and 1051 weekly channel also 1052 day top and 1052.20 weekly channel (very major area) / 1053.80 day top and 1054.70 minor weekly channel (very major area) / 1055.20 GBX weekly top and 1056.50 monthly upper channel also 1057.50 weekly upper channel (very major area) / 1059.30 minor weekly upper channel also 1061 day top (major area) / 1067.50 monthly closing price and 1068.20 daily upper channel also 1069 weekly closing gap for the Dec. contract (major area) / 1071 monthly top and 1077.20 monthly closing price (very major area) / 1094 day session closing price and 1096 day top for the Dec. contract (major area).
 
Support:  For the Dec. contract -
1045.50 intra-day channel and 1045.50 base (major area) / 1044.50 intra-day channel and 1043.10 day channel with GBX prices (major area) / 1042 base and 1041.60 day bottom also 1040 GBX bottom (very major area) / 1036.50 intra-day channel (major) / 1034.20 and 1034 base also 1032.80 day bottom (major area) / 1030.70 day gap and 1029.80 GBX bottom (major area) / 1027.30 day bottom and 1026 weekly channel (very major area) / 1022.80 day channel and 1019.20 major day channel (very major area) / 1016.50 weekly bottom and 1015.50 major weekly channel (very major area) / 1011.50 day bottom (major) / 1006.40 and 1005.10 day channels (major area) / 998.10 day channel and 997.30 weekly bottom also 997.20 major monthly channel (very major area).
 
Comments:  
    Wednesday's trading session remained inside the first neutral trading area leaving the chart neutral inside the narrow trading area between 1049.20 and 1043.10.  The major weekly trading area remains between 1056.50 and 1026.  A trade today above 1049.20 and 1052.20 is slightly bullish but only a trade above 1055.20 - 1057.50 area can bring the uptrend back into play.  A trade today below 1043 - 1040 area is slightly bearish but only a trade below 1027.30 - 1026 can bring any solid bearishness back to the chart.  A trade below 1022.80 and 1015.50 will confirm lower prices to follow and can be the first signal of a reversal of the major trend to the downside.  Remain defensive inside the first neutral trading area between 1049.20 and 1043.10 and also the 1052 - 1056.50 resistance for a sell and 1044 - 1043.10 support for a buy. 
                                                                                                                                                                                                                                                          
Day trades:  For The Dec. contract -
 
Aggressive traders can sell rallies near 1052 - 1055.20 area for obj. near 1046 - 1044 area.  (Use a buy stop and rev. long at 1058.70).
 
Aggressive traders can buy dips near 1044 - 1043.10 area for obj. near 1047 - 1049.20 area.  (Use a sell stop and rev. short at 1039).
 
Buy stop at 1058.70 for obj. near 1060.50 - 1061 area.
Buy stop at 1064 for obj. near 1066 - 1069 area.
 
Sell stop at 1039 for obj. near 1036.50 - 1034 area.
Sell stop at 1025 for obj. near 1023 - 1019.60 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 10/30/03 (9:55 am est)   

Short positions were taken on the opening at 1052.  The sell off down to 1047.30 is near enough to the 1046 obj. and completes the trade.

Bulletin - Originally sent 10/30/03 (10:04 am est)     

Long positions were taken at 1045, which is near enough to the 1044 buy area.  (Continue to use a sell stop and rev. short at 1039).  The obj. remains at 1047 - 1049 area.

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

Long positions were taken at 1045.  The rally up to 1047 meets the obj. and completes the trade. 
 
1043.10 remains as a support and can still be considered a buying area at 1044 - 1043.10 to repeat the trade.  (Continue to use a sell stop and rev. short at 1039).  The obj. to complete the trade again will remain at 1047 - 1049 area. 

Bulletin - Originally sent 10/30/03 (10:24 am est)     

The sell off down to 1043.50 put traders into long positions.  The obj. is 1047 - 1049 area.  (Continue to use a sell stop and rev. short at 1039).

Bulletin - Originally sent 10/30/03 (10:33 am est)     

Long positions were taken at 1043.50.  Because the market failed to hold the 1043.10 support, it is recommended for traders to exit at 1044.50 and take profits before the trade turns into a loss.

Results:    10/30/03
Sold @ 1052 Bought @ 1047.30 = + $1,175.00
Bought @ 1045 Sold @ 1047 = + $   500.00    
Bought @ 1043.50 Sold @ 1044.50 = + $   250.00
TOTAL (P & L)    + $1,925.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 10-31-03 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the Dec. contract -
1050.20 peak and 1050.80 intra-day channel and gap also 1051.20 peak and 1052.60 day top (major area) / 1054.40 newly developed day channel and 1054.50 GBX top also 1055.20 GBX and 1056.50 monthly upper channel (very major area) / 1059.80 major weekly upper channel also 1061 day top and 1063.30 minor weekly upper channel (very major area) / 1067.50 monthly closing price and 1069 weekly closing gap for the Dec. contract (major area) / 1071 monthly top (major) / 1077.20 monthly closing price (very major area) / 1094 day session closing price and 1096 day top (major area).
 
Support:  For the Dec. contract -
1047.30 minor day channel (major) / 1045 minor day channel with GBX prices (major) / 1043.40 minor day channel and 1042.50 day bottom also 1041.60 day bottom and 1040 GBX bottom (very major area) / 1032.80 day bottom (major) / 1030.70 day gap and 1029.80 GBX bottom (major area) / 1027.30 day bottom and 1026 weekly channel (very major area) / 1024.40 day channel (major area) / 1020.60 major long-term day channel (very major area) / 1016.60 weekly bottom and 1015.50 major weekly channel (very major area) / 1011.50 day bottom (major) / 1007.20 and 1005.80 day channels (major area) / 998.50 day channel and 997.30 weekly bottom also 997.20 major monthly channel (very major area).
 
Comments:  
    The whiplashing action on Thursday managed to close the session up for the 5th day in a row, but continues to face the major top resistance leaving the chart neutral inside two trading ranges between 1054.40 - 1040 and the first neutral range between 1050.80 and 1045.  A breakout to either side of the 1056.50 and 1040 area can possibly point a direction but only a trade below 1026 can bring any solid bearishness back to the chart.  Remain defensive until a solid signal for direction is established.
                                                                                                                                                                                                                                                              
Day trades:  For The Dec. contract -
 
Aggressive traders can sell rallies near 1050 - 1051 area and if possible near 1056.50 or buy dips near 1047.30 - 1045 area and if possible near 1043.40, whichever side comes first to complete the trade.  (Use a buy stop and rev. long at 1058.70).  (Use a sell stop and rev. short at 1039).
 
Buy stop at 1058.70 for obj. near 1061 - 1063 area.
Buy stop at 1064 for obj. near 1066 - 1068 area.
 
Sell stop at 1039 for obj. near 1036 - 1033 area.
Sell stop at 1023 for obj. near 1021 - 1020 area.
Sell stop at 1013 for obj. near 1009 - 1007 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 10/31/03 (10:13 am est)      

Short positions were taken at 1050.50.  The sell off down to 1048 is near enough to the 1047.30 obj. and completes the trade. 

Bulletin - Originally sent 10/31/03 (10:49 am est)      

Long positions were taken at 1047.  The rally up to 1049.50 is near enough to the 1050 obj. and completes this trade to both side.

Results:    10/31/03
Sold @ 1050.50 Bought @ 1048 = + $   625.00
Bought @ 1047 Sold @ 1049.50 = + $   625.00    
Sold @ 1051 Bought @ 1047.30 = + $   925.00
Bought @ 1047.30 Sold @ 1050 = + $   675.00
TOTAL (P & L)    + $2,850.00

The results for The Tech Guru S & P Report will now be posted on the second Friday of each month, with all results from the preceding month.  This is to prevent the exposure of the major monthly and weekly numbers that are provided in the report, which are significant and valuable to all of our current subscribers.

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

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

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

 
 
 
 
 
 
 
 
 

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