It is recommended for traders to sell
rallies near 1063.70 - 1066.20 area for an obj. near 1061 - 1059
area. (Continue to use a buy stop and rev. long at 1073).
Results:
11/07/03
| Sold
@ 1060.60 |
Bought
@ 1058.60 |
=
+ $ 500.00 |
| Sold
@ 1060.50 |
Bought
@ 1057.50 |
= +
$ 750.00 |
| TOTAL
(P & L) |
|
+ $1,250.00 |
The week in review - 11/10/03
- 11/14/03
The
Tech Guru's S & P Day Trading
Recommendations
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Monday 11-10-03 : 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 -
1051.80 intra-day channel and peak also 1051.70 and 1052 peaks
(major area) / 1053.50 peak and 1054.40
intra-day channel and rev. base (major area)
/ 1057.30 and 1057.70 peaks also 1058.40 intra-day channel
also 1058.40 newly developed major weekly channel (very
major area) / 1060.90 newly developed major
day channel and 1061.50 newly developed major weekly channel
with GBX prices also 1061.30 weekly top (very
major area) / 1063.10 major weekly channel
with GBX prices and 1064 major day channel with GBX prices
also 1064.40 GBX weekly top (very
major area) / 1065.20 and 1066.60 major
monthly upper channel and 1067.50 weekly upper channel also
1067.50 monthly closing price (very
major area) / 1069 weekly closing price and
1069.90 major weekly upper channel (very
major area) / 1071 monthly top (major)
/ 1077.20 monthly closing price and 1079 day top (very
major area) / 1089 weekly top for the Dec.
contract (major) / 1094 day session closing
price and 1096 day top (major area).
Support: For
the Dec. contract -
1050 day bottom and 1050 base also 1049.60 minor day channel
and 1048.30 base (major area) / 1045.40 day
bottom and 1045.30 minor day channel with GBX prices also 1045
weekly channel and 1043.30 weekly bottom (very
major area) / 1042.50 and 1041.60 day bottoms
also 1040 GBX bottom (major area) / 1033.90
major day channel and 1032.20 day bottom to 1030.70 day gap
also 1029.80 GBX bottom and 1029.10 long-term major day
channel (very major area)
/ 1027.30 weekly bottom and 1027.10 major monthly channel (very
major area) / 1016.70 and 1016.50 monthly
channels (very major area)
/ 1012.30 minor weekly channel and 1011.50 day bottom also
1010.10 minor weekly channel (very
major area) / 1002 minor day channel and
997.30 weekly bottom also 997.20 (very
major area).
Comments:
The sell-off on Friday from the major
resistance area proved the significance of the area, but the
weekly closing price managed to settle up for the week leaving
the chart neutral inside a very tight daily trading range
between 1058.40 and 1045.30 daily channels. The weekly
channels leaves the chart neutral between 1016.50 and 1045.
The monthly channels leaves the chart neutral between 1069.90
and 1027.10. With all the different trading ranges that
has developed, it will take a breakout to either side of the
monthly range between 1069.90 and 1027.10 to possibly point a
solid direction. Until then, remain defensive inside the
first neutral trading range between 1054.40 and 1049.60 also
between 1058.40 and 1045.30.
Day
trades: For The Dec. contract -
Aggressive traders can sell rallies near
1051.50 - 1054.40 area or buy dips near 1049.60 - 1045.30
area, whichever side comes first, to complete the trade.
(Use a protective buy stop at 1056. Do not rev. long).
(Use a protective sell stop at 1044.20. Do not rev.
short).
Aggressive traders can sell rallies near 1058
- 1061 area for obj. near 1054.50 - 1051.50 area. (Use a
protective buy stop at 1062.70. Do not rev. long).
Aggressive traders can sell rallies near 1065
- 1069 area for obj. near 1060.50 - 1058.50 area. (Use a
buy stop and rev. long at 1073.50).
Aggressive traders can buy dips near 1042.50
- 1040 area for obj. near 1045 - 1048 area. (Use a sell
stop and rev. short at 1038).
Aggressive traders can buy dips near 1030 -
1027.10 area for obj. near 1035 - 1037 area. (Use a sell
stop and rev. short at 1024).
Buy stop at 1073.50 for obj. near 1076 - 1079
area.
Buy stop at 1082 for obj. near 1086 - 1089
area.
Sell stop at 1038 for obj. near 1034 - 1032
area and possibly near 1030.70 gap.
Sell stop at 1024 for obj. near 1019.50 -
1016.50 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 11/10/03 (9:50 am est)
Short positions were taken on the
opening at 1052. Due to the narrow trading range, the
sell-off down to 1050 is near enough to the 1049.60 and
completes the trade.
Bulletin
- Originally sent 11/10/03 (12:38 pm est)
The market is showing support at the
1046.80 area at this time, which can be a signal that the 1045
weekly channel support can stimulate rallies.
It is recommended for traders to
attempt long positions at 1046.50 - 1045 area and if possible
near 1042.50 for an obj. near 1050 - 1052 area. (Use
a sell stop and rev. short at 1038).
Bulletin
- Originally sent 11/10/03 (1:25 pm est)
Long positions were taken at the
double bottom at 1046.80. The obj. remains at 1050 - 1052
area. (Continue to use a sell stop and rev. short at
1038).
Bulletin
- Originally sent 11/10/03 (12:48 pm est)
Long positions were taken at
1046.80. The rally up to 1050 meets the obj. and completes
the trade.
Results:
11/10/03
| Sold
@ 1052 |
Bought
@ 1050 |
= +
$ 500.00
|
| Bought
@ 1046.80 |
Sold
@ 1050 |
=
+ $ 800.00 |
| TOTAL
(P & L) |
|
+ $1,300.00 |
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Tuesday 11-11-03 : NOTE: After
each support and resistance listed will designate a value -
(very major) holds the highest importance, then (major), (very
significant), and (significant) is of the least value. Very
aggressive trades - are trades that are
against the trend or a high dollar risk when wide stops are
used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell stop
inside a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter or
complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where stops
ARE NOT mentioned, they should be placed below the
second support area listed or above the second
resistance area listed, or 22 points from the (trade
entry point), whichever is the lesser amount. NOTE: The
first support area becomes the resistance after
the market trades through the second support area
listed. The first resistance area becomes the support
after the market trades through the second
resistance area listed.
Resistance: For
the Dec. contract -
1046.80 peak and 1047.50 intra-day channel (major
area) / 1049 intra-day channel and peak also 1050 and
1050.50 peaks (major area) / 1052.50 day top
and 1053.50 peak also 1053.80 GBX top (major area)
/ 1055.50 intra-day channel (major) / 1057.30
and 1057.70 peaks also 1058.40 major weekly channel (very
major area) / 1060.50 major day channel and
1061.50 major weekly channel with GBX prices also 1061.30
weekly top (very major area)
/ 1063.10 weekly channel with GBX prices and 1063.60 day
channel with GBX prices also 1064.40 weekly top (very
major area) / 1065.20 and 1066.60 major
monthly upper channel and 1067.50 weekly upper channel also
1067.50 monthly closing price (very
major area) / 1069 weekly closing price and
1069.90 major weekly upper channel (very
major area) / 1071 monthly top (major)
/ 1077.20 monthly closing price and 1079 day top (very
major area) / 1089 weekly top for the Dec.
contract (major) / 1094 day session closing
price and 1096 day top (major area).
Support: For
the Dec. contract -
1045.30 and 1045 minor day channel also 1044.20 day bottom (major
area) / 1043.30 weekly bottom and 1042.50 day bottom
also 1041.60 day bottom and 1040 GBX bottom (very
major area) / 1035.50 major day channel (major
area) / 1032.20 day bottom to 1030.70 day gap also
1030.50 long-term major day channel and 1029.80 GBX bottom
also 1029.30 major weekly channel (very
major area) / 1027.30 weekly bottom and
1027.10 major monthly channel (very
major area) / 1016.70 and 1016.50 monthly
channels also 1016.50 weekly bottom (very
major area) / 1013.10 day channel and 1012.30
minor weekly channel and 1011.50 day bottom also 1011.20 day
channel and 1010.10 minor weekly channel (very
major area) / 1002.60 minor day channel and
997.30 weekly bottom (major area).
Comments:
The sell-off on Monday brought prices
slightly below the 1045 major weekly channel but managed to
close in neutral condition. The neutral condition
can swing prices to both sides. A trade below 1040 can
put selling pressure to bring prices down to challenge the
1035.50 and possibly near the 1027.10 major support. A
trade below 1027.10 is bearish and can be the first signal of
a major reversal of the trend to the downside. A trade
today above 1058.40 and 1061.50 is bullish but only a trade
above 1066.60 and 1069.90 will confirm the uptrend intact for
higher prices. Remain defensive inside the first trading
range between 1049 and 1045 and also between 1058.40 and 1040
area.
Day
trades: For The Dec. contract -
Aggressive traders can sell rallies near
1047.50 - 1049 area or buy dips near 1045.50 - 1043 area,
whichever side comes first, to complete the trade. (Use
a buy stop and rev. long at 1050.20). (Use a sell stop
and rev. short at 1038.70).
Aggressive traders can sell rallies near 1055
- 1058 area for obj. near 1051 - 1049 area. (Use a
protective buy stop at 1061.70. Do not rev. long).
Aggressive traders can buy dips near 1030.70
gap to 1029.30 area and if possible near 1027.10 for obj. near
1034 - 1036 area. (Use a sell stop and rev. short at
1024).
Buy stop at 1050.20 for obj. near 1052.50 -
1055 area.
Sell stop at 1038.70 for obj. near 1036.50 -
1035.50 area.
Sell stop at 1034 for obj. near 1032 -
1030.70 gap area and possibly near 1029.30 - 1027.10 area.
Sell stop at 1024 for obj. near 1020 -
1016.70 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 11/11/03 (11:08 am est)
Long positions were taken at 1045
and 1043. The rally up to 1047.50 meets the obj. and
completes the trade.
Bulletin
- Originally sent 11/11/03 (11:40 am est)
Short positions were taken at
1047.50. The sell-off down to 1045.30 was near enough to
the 1045 obj. and completes the trade.
Results:
11/11/03
| Bought
@ 1045 |
Sold
@ 1047.50 |
= +
$ 625.00
|
| Bought @
1043 |
Sold @
1047.50 |
= +
$1,125.00 |
| Sold
@ 1047.50 |
Bought
@ 1045.30 |
=
+ $ 550.00 |
| TOTAL
(P & L) |
|
+ $2,300.00 |
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Wednesday 11-12-03 : NOTE: After
each support and resistance listed will designate a value -
(very major) holds the highest importance, then (major),
(very significant), and (significant) is of the least value.
Very aggressive trades -
are trades that are against the trend or a high dollar risk
when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell stop
inside a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter
or complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where
stops ARE NOT mentioned, they should be placed below
the second support area listed or above the
second resistance area listed, or 22 points from the (trade
entry point), whichever is the lesser amount. NOTE: The
first support area becomes the resistance after
the market trades through the second support area
listed. The first resistance area becomes the support
after the market trades through the second
resistance area listed.
Resistance: For
the Dec. contract -
1046.70 peak and 1047.50 day top also 1048.30 intra-day
channel (major area) / 1050 and 1050.50
peaks also 1052.50 day top and 1053.80 GBX top (very
major area) / 1057.30 and 1057.70 peaks also
1058.40 major weekly channel and 1059.80 long-term major day
channel (very major area)
/ 1060 peak and 1061.30 weekly top also 1061.50 major weekly
channel with GBX prices (very
major area) / 1063.10 weekly channel with
GBX prices and 1063.30 major day channel with GBX prices
also 1064.40 GBX weekly top and 1065.20 long-term major
monthly upper channel (very
major area) / 1066.60 major monthly upper
channel and 1067.50 weekly upper channel also 1067.50
monthly closing price (very
major area) / 1069 weekly closing price and
1069.90 major weekly and monthly upper channel (very
major area) / 1071 monthly top (major)
/ 1077.20 monthly closing price and 1079 day top (very
major area) / 1089 weekly top for the Dec.
contract (major) / 1094 day session closing
price and 1096 day top (major area).
Support: For
the Dec. contract -
1044.40 and 1043.90 newly developed day channels (major
area) / 1042.30 day bottom and 1041.80 GBX bottom
also 1040 GBX bottom (very
major area) / 1037.10 major day channel (major
area) / 1032.20 day bottom and 1031.90 long-term
major day channel (very major
area) / 1030.70 day gap and 1029.80 GBX
bottom also 1029.30 major weekly channel also 1027.30 weekly
bottom and 1027.10 major monthly channel (very
major and significant area) / 1016.70 and
1016.50 monthly channels also 1016.50 weekly bottom (very
major area) / 1013.90 and 1012 day channels also
1011.50 day bottom (major area) / 1010.10
minor weekly channel (very
major area) / 1004 minor day channel (major
area) / 997.30 weekly bottom and 994.10 monthly
closing gap (very major area).
Comments:
Tuesday's trading session remained inside
the first narrow neutral area, leaving the chart neutral
again but slightly supportive inside the first narrow
trading range between 1048.30 and 1043.90 area. As
long as the market remains above the 1040 area today then
rallies can develop. The second and major trading
range today is between 1058.40 and 1037.10, which is
significant at this time. Remain defensive inside
these two trading areas until a solid direction can be
established.
Day
trades: For The Dec. contract -
Aggressive traders can buy dips near 1045 -
1043.90 area or sell rallies near 1047 - 1048.30 area,
whichever side comes first, to complete the trade.
(Use a sell stop and rev. short at 1039.70). (Use a
buy stop and rev. long at 1049.20).
Aggressive traders can sell rallies near
1058 - 1059.80 area for obj. near 1055 - 1053 area.
(Use a protective buy stop at 1061.70. Do not rev.
long).
Aggressive traders can buy dips near
1037.50 - 1037.10 area for obj. near 1039.50 - 1040 area.
(Use a sell stop and rev. short at 1035.70).
Aggressive traders can attempt long positions
near 1029.80 - 1027.10 area for obj. near 1033 - 1035 area
and possibly near 1037. (Use a sell stop and rev.
short at 1024).
Buy stop at 1049.20 for obj. near 1051 -
1053 area.
Buy stop at 1054.30 for obj. near 1057.30 -
1058.40 area and possibly near 1059.80.
Sell stop at 1039.70 for obj. near 1037.50
- 1037.10 area.
Sell stop at 1035.70 for obj. near 1032.50
- 1031.90 area and possibly near 1029.30.
Sell stop at 1024 for obj. near 1020 -
1016.70 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 11/12/03 (10:00 am est)
Long positions were taken at
1045.80. The rally up to 1048 meets the obj. and
completes the trade.
The buy stop was hit at 1049.20
putting traders into long positions.
Bulletin
- Originally sent 11/12/03 (11:02 am est)
Long positions were taken at
1049.20. The rally up to 1050.50 was near enough to the
1051 obj. and completes the trade.
Traders still holding long
positions should exit at and scratch the trade.
Bulletin
- Originally sent 11/12/03 (3:55 pm est)
Short positions were taken at
1058.50. The sell-off down to 1056.20 is showing signs
of support.
It is recommended to exit the
short position at the market, which is trading at 1057 at this
time, and scratch the trade with a small profit.
Results:
11/12/03
| Bought
@ 1045.80 |
Sold
@ 1048 |
= +
$ 550.00
|
| Bought @
1049.20 |
Sold @
1050.20 |
= + $
250.00 |
| Bought @
1054.30 |
Sold @
1057.30 |
= + $
750.00 |
| Sold
@ 1058.50 |
Bought
@ 1057 |
=
+ $ 375.00 |
| TOTAL
(P & L) |
|
+ $2,125.00 |
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Thursday 11-13-03 : 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 -
1059.50 peak and 1059.80 long-term major day channel also
1060 peak (very major area)
/ 1061.30 weekly top and 1061.50 major weekly channel with
GBX prices (very major area)
/ 1062.90 major day channel and 1063.10 weekly channel
with GBX prices (major area) / 1064.40
GBX weekly top and 1065.20 long-term major monthly upper
channel (very major area)
/ 1066.60 major monthly upper channel and 1067.50 weekly
upper channel also 1067.50 monthly closing price (very
major area) / 1069 weekly closing price
and 1069.90 major weekly and monthly upper channel (very
major area) / 1071 monthly top (major)
/ 1077.20 monthly closing price and 1079 day top (very
major area) / 1089 weekly top for the Dec.
contract (major) / 1094 day session
closing price and 1096 day top (major area).
Support: For
the Dec. contract -
1057 and 1056.30 intra-day channels and 1056.20 base (major
area) / 1052.50 and 1051.50 (major area)
/ 1048.30 base also 1048.10 day channel and 1047.40 GBX
channel also 1046.60 and 1046 day channels (very
major area) / 1045.80 day bottom and
1044.60 GBX bottom also 1044.40 day channel (major
area) / 1042.30 day bottom and 1041.80 GBX bottom
also 1040 GBX bottom and 1038.70 day channel (very
major area) / 1033.30 long-term major
day channel and 1032.20 day bottom (very
major area) / 1030.70 day gap and 1029.80
GBX bottom also 1029.30 major weekly channel (very
major area) / 1027.30 weekly bottom and
1027.10 major monthly channel (very
major and significant area) / 1016.70 and
1016.50 monthly channels also 1016.50 weekly bottom (very
major area) / 1014.80 and 1012.80 day
channels also 1011.50 day bottom (major area).
Comments:
The rally on Wednesday from the support
area, was expected from having the supportive
conditions. The major resistance at 1059.80 managed
to hold off any further rallies on Wednesday leaving the
chart neutral inside the 1059.80 - 1048.10 trading range.
A trade above 1059.80 and 1061.50 will put the chart in
bullish conditions but prices must trade above 1066.60 and
1069.90 to confirm the uptrend intact for higher prices.
A trade below 1048.10 - 1046 area is slightly bearish
but only a trade below 1033.30 and 1027.10 can bring any
solid bearishness back to the chart. Remain
defensive inside the 1059.80 - 1048.10 neutral area until
a solid direction can be established.
Day
trades: For The Dec. contract -
Aggressive traders can sell rallies near
1059 - 1059.80 area and if possible ner 1061.50 or buy
dips near 1056 - 1054.50 area, which ever side comes
first, to complete the trade. (Use a buy stop and
rev. long at 1063.70). (Use a sell stop and rev.
short at 1053).
Sell stop at 1053 for obj. near 1051.50 -
1048.10 area.
Sell stop at 1050.50 for obj. near
1048.50 - 1046.60 area.
Aggressive traders can buy dips near
1048.50 - 1046.60 area for obj. near 1053 - 1055 area.
(Use a sell stop and rev. short at 1043.90).
Sell stop at 1043.90 for obj. near
1041.90 - 1040 area and possibly near 1038.70.
Sell stop at 1035.70 for obj. near
1033.30 and possibly near 1032.20 - 1030.70 gap area.
Buy stop at 1063.70 for obj. near 1064.40
- 1065.20 area and possibly near 1066.60.
Buy stop at 1072.20 for obj. near 1076 -
1077.20 area and possibly near 1079.
Buy stop at 1082 for obj. near 1085 -
1087 area and possibly near 1089.
|
*
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 11/13/03 (9:42 am est)
The sell stop was hit at 1053,
putting traders into short positions. The market is
showing signs of support for traders to still consider long
positions at this time.
It is recommended for traders to
buy and rev. long at the market, which is trading at 1053.80
at this time. The obj. is at 1057 - 1059 area.
(Use a sell stop and rev. short at 1050.50).
Bulletin
- Originally sent 11/13/03 (10:16 am est)
Long positions were taken at
1053.50. The rally up to 1056.30 is near enough to the
1057 obj. and completes the trade.
Bulletin
- Originally sent 11/13/03 (10:17 am est)
The support area at 1054 - 1053
can still be considered a buying area. Aggressive
traders can buy dips near 1054.50 - 1053.50 area for obj.
near 1057 - 1059 area. (Continue to use a sell stop
and rev. short at 1050.50).
Bulletin
- Originally sent 11/13/03 (12:48 pm est)
Long positions were taken at
1053.50. The rally up to the double top at 1056.30 is
considered resistance and near enough to the 1057 obj.,
which completes the trade.
Bulletin
- Originally sent 11/13/03 (2:51 pm est)
The long position were taken at
1053.50. The rally up to 1057 meets the obj. and
completes the trade.
Bulletin
- Originally sent 11/13/03 (3:32 pm est)
The rally up to 1059 - 1059.50
put traders into short positions. The sell-off down to
1056 meets the obj. and completes the trade.
Results:
11/13/03
| Bought
@ 1054.30 |
Sold
@ 1053 |
= -
$ 325.00
|
| Sold @
1053 |
Bought
@ 1053.50 |
= -
$ 125.00 bought
as per bulletin |
| Bought
@ 1053.50 |
Sold @
1056.30 |
= + $
700.00 bought as per
bulletin |
| Bought
@ 1053.50 |
Sold @
1056.30 |
= + $
700.00 bought as per
bulletin |
| Bought
@ 1053.50 |
Sold @
1057 |
= + $
875.00 |
| Sold
@ 1059 |
Bought
@ 1056 |
=
+ $ 750.00 |
| TOTAL
(P & L) |
|
+ $2,575.00 |
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Friday 11-14-03 : 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 -
1058.30 and 1059 minor day channels also 1059.30
long-term major day channel also 1059.50 day top and
1060 peak (very major
area) / 1061.30 weekly top and 1061.50
major weekly channel with GBX prices (very
major area) / 1062.50 major day channel
with GBX prices and 1063.10 weekly channel with GBX
prices (major area) / 1064.40 GBX
weekly top and 1065.20 long-term major monthly upper
channel (very major area)
/ 1066.60 major monthly upper channel and 1067.50 weekly
upper channel also 1067.50 monthly closing price (very
major area) / 1069 weekly closing price
and 1069.90 major weekly and monthly upper channel (very
major area) / 1071 monthly top (major)
/ 1077.20 monthly closing price and 1079 day top (very
major area) / 1089 weekly top for the
Dec. contract (major) / 1094 day
session closing price and 1096 day top (major
area).
Support: For
the Dec. contract -
1055.50 base and 1055 intra-day channel (major
area) / 1053.80 intra-day channel and 1053.80
base also 1053.10 base and 1052.10 day bottom (major
area) / 1050.20 GBX channel and rev. peak (major
area) / 1048.30 base and 1048.10 day channel
with GBX prices (major area) / 1045.80
day bottom and 1044.60 GBX bottom (major area)
/ 1042.30 day bottom and 1041.80 GBX bottom also 1040.20
major day channel and 1040 GBX bottom (very
major area) / 1034.70 long-term major
day channel (very major
area) / 1032.20 day bottom (major)
/ 1030.70 day gap and 1029.80 GBX bottom also 1029.30
major weekly channel (very
major area) / 1027.30 weekly bottom and
1027.10 major monthly channel (very
major and significant area) / 1016.70
and 1016.50 monthly channels also 1016.50 weekly bottom (very
major area) / 1015.60 and 1013.60 day
channels also 1011.50 day bottom (major area).
Comments:
Thursday's trading range remained
inside the neutral area leaving the chart neutral and
defensive for prices to swing either way. A trade
above 1059.30 and 1061.50 is bullish but prices must
trade above 1066.60 and 1069.90 to confirm the uptrend
intact for higher prices. A trade today below
1050.20 - 1048.10 area is slightly bearish but a trade
below 1040 will bring prices down to challenge the
1034.70 area and possibly near the major support at
1029.30 - 1027.10 area. Remain defensive inside
the first neutral area between 1059.30 - 1053.80.
Day
trades: For The Dec. contract -
Aggressive traders can buy dips near
1055.50 - 1055 area and if possible near 1053.80 for
obj. near 1057 - 1059 area. (Use a sell stop and
rev. short at 1052).
Aggressive traders can sell rallies
near 1059.30 - 1061.50 area for obj. near 1057 - 1055.50
area. (Use a buy stop and rev. long at 1063.70).
Aggressive traders can buy dips near
1050.20 - 1048.10 area for obj. near 1052 - 1054 area.
(Use a sell stop and rev. short at 1047).
Sell stop at 1052 for obj. near 1050.20
- 1048.10 area.
Sell stop at 1047 for obj. near 1045 -
1043 area and possibly near 1040.20.
Sell stop at 1039 for obj. near 1035.50
- 1034.70 area.
Buy stop at 1063.70 for obj. near 1065
- 1066.60 area and possibly near 1067.50 - 1069.90 area.
Buy stop at 1072.50 for obj. near
1075.50 - 1077.20 area.
Buy stop at 1082 for obj. near 1085 -
1087 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 11/14/03 (10:18 am est)
Short positions were taken at
1059.50 and 1061.50. The sell stop was not hit at
1063.70 keeping the short position intact, even though the
E-mini traded slightly above. The sell off down to
1057 meets the obj. and completes the trade.
Bulletin
- Originally sent 11/14/03 (10:42 am est)
The sell off down to 1055.50 -
1055 area put traders into long positions. The rally
up to 1056.80 is near enough to the 1057 obj. and
completes the trade.
Bulletin
- Originally sent 11/14/03 (3:04 pm est)
The sell stop was hit at 1052
putting traders into short positions. The sell-off
down to 1050 meets the obj. and completes the trade.
Bulletin
- Originally sent 11/14/03 (3:23 pm est)
The sell off down to 1050 -
1048.10 area put traders into long positions. Since
the sell off was lower then the 1048.10 support the market
is now defensive.
It is recommended for traders
to exit the long position at the market, which is trading
at 1049.50 at this time, and scratch the trade.
Results:
11/14/03
| Sold
@ 1059.30 |
Bought
@ 1057 |
= +
$ 575.00
|
| Sold
@ 1061.50 |
Bought
@ 1057 |
= +
$1,125.00 |
| Bought
@ 1055 |
Sold
@ 1056.80 |
= + $
450.00 |
| Bought
@ 1055 |
Sold
@ 1057 |
= + $
750.00 |
| Sold
@ 1052 |
Bought
@ 1050 |
= + $
500.00 |
| Bought
@ 1049.50 |
Sold
@ 1049.50 |
=
$ -0- |
| TOTAL
(P & L) |
|
+ $3,400.00 |
The week in review - 11/17/03
- 11/21/03
The
Tech Guru's S & P Day Trading
Recommendations
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Monday 11-17-03 : 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 -
1049.70 intra-day channels also 1050.70 and 1051.50
peaks (major area) / 1055.50
intra-day channel (major area) /
1058.10 day session and 1059.20 peak (major
area) / 1060.50 newly developed major
long-term weekly channel also 1062 and 1062.20 minor
weekly channels also 1062.90 major long-term day
channel also 1063.30 weekly top and 1064.40 GBX weekly
top (very major area)
/ 1065.10 monthly upper channel and 1066.60 major
monthly upper channel (very
major area) / 1069.30 newly developed
major weekly upper channel and 1069.90 minor upper
channel (very major
area) / 1070.50 weekly upper channel
and 1071 monthly top also 1073.60 weekly upper channel
(very major area)
/ 1077.20 monthly closing price and 1079 day top (very
major area) / 1089 weekly top for the
Dec. contract (major) / 1094 day
session closing price and 1096 day top (major
area).
Support: For
the Dec. contract -
1047.80 day channel and 1047.30 day bottom also
1047.10 day channel with GBX prices (major
area) / 1045.80 day bottom and 1045.60 day
channel with GBX prices also 1044.60 GBX bottom and
1044 base (major area) / 1042.60
minor GBX channel and 1042.30 weekly bottom also
1041.80 GBX weekly bottom also 1041.60 weekly bottom
and 1040 GBX weekly bottom (major area)
/ 1036.10 major long-term weekly channel (very
major area) / 1032.20 day bottom to
1030.70 day gap also 1029.80 GBX weekly bottom (major
area) / 1027.50 weekly channel and 1027.30
weekly bottom also 1027.10 major monthly channel (very
major area) / 1022.60 monthly channel (major
area) / 1016.70 and 1016.50 monthly channels
also 1016.50 weekly bottom and 1016.30 weekly channel (very
major area) / 1013.80 weekly channel
and 1011.50 day bottom (major area) /
997.30 monthly bottom and 995.70 minor weekly channel
also 994.10 major monthly gap (very
major area).
Comments:
On Friday after making
new highs for the week, the market sold-off from the
major resistance bringing prices down to close below
the last two preceding weeks closes, which is
considered a technical key reversal and a bearish
signal for possible lower prices to follow, but the
market still faces major support areas leaving the
chart neutral to bearish. A trade today above
the 1049.70 - 1051.50 area is slightly bullish but
only a trade above 1060.50 - 1062.20 area can bring
any solid bullishness back to the chart. A trade
below 1042.60 - 1040 is bearish but only a trade below
1036.10 can bring a solid bearish signal for prices to
challenge the 1030.70 gap and 1027.10 monthly channel.
If the market trades, any day this month, below
1027.10 it will signal the beginning of a major
downtrend. A trade below 1016.30 - 1013.80 area
will confirm the downtrend intact for lower prices to
follow. Remain defensive inside the first
neutral area between 1051.50 - 1042.60 area and also
between the major weekly range between 1062.20 -
1036.10 areas.
Day
trades: For The Dec. contract -
Aggressive traders can attempt long positions
near 1043 - 1042.60 area for obj. near 1045 - 1047
area. (Use a sell stop and rev. short at
1039.30).
Aggressive traders can attempt long
positions near 1036.50 - 1036.10 area for
obj. near 1038.50 - 1039.50 area and possibly near
1040. (Use a sell stop and rev. short at
1034.30).
Aggressive traders can sell rallies
near 1049 - 1051.50 area for obj. near 1046.50 -
1045.60 area. (Use a protective buy stop at
1053. Do not rev. long).
Aggressive traders can sell rallies
near 1060 - 1062.20 area, if it gets there, for obj.
near 1055 - 1053 area and possibly near 1051.
(Use a buy stop and rev. long at 1067.20).
Buy stop at 1067.20 for obj. near
1069.20 - 1069.90 area and possibly near 1070.50.
Buy stop at 1074.20 for obj. near
1077.20 - 1079 area.
Sell stop at 1039.30 for obj. near
1036.50 - 1036.10 area.
Sell stop at 1034.30 for obj. near
1032.30 - 1030.70 gap and possibly near 1027.10 major
monthly 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 11/17/03 (9:48 am est)
Long positions were taken on
the opening at 1043. The rally up to 1045 meets
the obj. and completes the trade.
Bulletin - Originally
sent 11/17/03 (10:17 am est)
The 1039.30 sell stop was
hit putting traders into short positions. The
market is showing signs of support because of the
1036.10 channel line.
It is recommended for
traders to exit the short position and scratch the
trade. The market is trading at 1039.80 at this
time.
Bulletin - Originally
sent 11/17/03 (11:23 am est)
The sell-off down to 1036.50
put traders into long positions. The obj. remains
at 1038.50 - 1039.50 area. Continue to use a sell
stop and rev. short at 1034.30.
Bulletin - Originally
sent 11/17/03 (12:16 pm est)
Long positions were taken at
1036.50. The rally up to 1038.50 - 1039.50 meets
the obj. and completes the trade.
Bulletin - Originally
sent 11/17/03 (1:57 pm est)
The sell stop was hit at
1034.30, putting traders into short positions. The
market is showing signs of support in this level at this
time.
It is recommended for
traders to exit the short position and scratch the
trade. The market is trading at 1035 at this time.
Results:
11/17/03
| Bought @ 1043 |
Sold @ 1045
|
= + $
500.00 |
| Sold @ 1039.30 |
Bought @ 1039.30 |
= $
-0- bought as per
bulletin |
| Bought @ 1036.50 |
Sold @ 1038.50 |
= + $ 500.00 |
| Sold @ 1034.30 |
Bought @ 1035 |
= - $
175.00 bought as per bulletin |
| TOTAL (P &
L) |
|
+
$ 825.00 |
A TECHNICAL
GUIDE FOR DAY TRADING THE S & P
S
& P - For Tuesday 11-18-03 : NOTE: After
each support and resistance listed will designate a
value - (very major) holds the highest importance,
then (major), (very significant), and (significant)
is of the least value. Very
aggressive trades - are trades that
are against the trend or a high dollar risk when
wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell
stop inside a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade
to enter or complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only.
Where stops ARE NOT mentioned, they should be
placed below the second support area listed or
above the second resistance area listed, or
22 points from the (trade entry point),
whichever is the lesser amount. NOTE: The
first support area becomes the resistance
after the market trades through the second
support area listed. The first
resistance area becomes the support after the
market trades through the second
resistance area listed.
Resistance:
For the Dec. contract -
1045.30 day top (major) / 1048 GBX
top and 1048.90 weekly closing gap also 1050.20
intra-day channel and rev. base (very
major area) / 1051.70 and 1053.50
peaks (major area) / 1059.20 peak
and 1060.50 major long-term weekly channel (very
major area) / 1062 and 1062.20 minor
weekly channels also 1062.50 major long-term day
channel and 1063.30 weekly top and 1064.40 GBX
weekly top (very major
area) / 1065.10 monthly upper
channel and 1066.60 major monthly upper channel (very
major area) / 1069.30 major weekly
upper channel and 1069.90 minor monthly upper
channel (very major
area) / 1070.50 weekly upper channel
and 1071 monthly top also 1073.60 weekly upper
channel (major area) / 1077.20
monthly closing price and 1079 day top (very
major area) / 1089 weekly top for
the Dec. contract (major) / 1094
day session closing price and 1096 day top (major
area).
Support: For
the Dec. contract -
1040.30 base and 1039.60 rev. peak (major
area) / 1037.50 intra-day channel and
1036.20 to 1035.80 base also 1035.70 newly developed
major long-term day channel and 1035.60 and 1035.40
day channels (very
major area) / 1034.30 day bottom and
1032.20 day bottom (major area) /
1030.70 day gap and 1029.20 GBX weekly bottom (major
area) / 1027.50 weekly channel and 1027.30
weekly bottom also 1027.10 major monthly channel (very
major area) / 1022.60 monthly
channel (major area) / 1016.70 and
1016.50 monthly channels also 1016.50 weekly bottom
and 1016.30 weekly channel (very
major area) / 1013.80 weekly channel
and 1011.50 day bottom (major area)
/ 997.30 monthly bottom and 995.70 minor weekly
channel also 994.10 major monthly gap
(very major area).
Comments:
The sell-off and then recovery
rally in Monday's session removed some of the
bearishness from the chart leaving the chart neutral
inside a trading range between the 1048.90 - 1050.50
resistance and 1037.50 - 1035.40 support.
Remain defensive against whiplashing inside this
neutral area until a solid direction can be
confirmed.
Day
trades: For The Dec. contract -
Aggressive traders can sell rallies
near 1046 - 1047 area and if possible near 1050.50
or buy dips near 1041 - 1039.60 area and if possible
near 1037.50, whichever side comes first, to
complete the trade. (Use a protective buy stop
at 1056. Do not rev. long). (Use a sell
stop and rev. short at 1033).
Aggressive traders can sell rallies
near 1059 - 1060.50 area and if possible near
1062.20 for obj. near 1056 - 1054 area. (Use a
buy stop and rev. long at 1054.70).
Aggressive traders can attempt long
positions near 1028.50 - 1027.10 area for
obj. near 1033 - 1035 area. (Use a sell stop
and rev. short at 1024).
Buy stop at 1064.70 for obj. near
1066 - 1069 area.
Buy stop at 1074.20 for obj. near
1077.20 - 1079 area.
Sell stop at 1033 for obj. near
1030.70 gap and possibly near 1028.50 - 1027.10
area.
Sell stop at 1024 for obj. near
1022 - 1021 area and possibly near 1020 - 1018 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 11/18/03 (10:38 am est)
Short positions were taken
on the opening at 1046.50. The sell off down to
1043 is near enough to the 1041.50 obj. to consider
taking profits and now completes the trade.
Bulletin - Originally
sent 11/18/03 (11:23 am est)
The sell-off down to
1041.70 out traders into long positions. The
rally up to 1046 meets the obj. and completes the
trade.
Bulletin - Originally
sent 11/18/03 (2:04 pm est)
The sell off down to
1037.50 is the low end of the buying area for long
positions to be taken again. The obj. is 1040.50
- 1042 area. (Continue to use a sell stop
and rev. short at 1033).
Bulletin - Originally
sent 11/18/03 (3:49 pm est)
Long positions were taken
at 1037.50. The market made new lows below the
1034.30 from yesterday putting negativity into the
chart.
It is recommended to exit
the long position at the market, which is trading at
1037, and scratch the trade.
Bulletin - Originally
sent 11/18/03 (4:12 pm est)
The sell stop was hit at
1033 putting traders into short positions. The
sell-off down to 1031 was near enough to the 1030.70
obj. and completes the trade.
Results:
11/18/03
| Sold @ 1046.50 |
Bought @ 1043
|
= + $
875.00 |
| Bought @ 1041.70 |
Sold @ 1046 |
= + $1,075.00 |
| Bought @ 1037.50 |
Sold @ 1037 |
= - $
125.00 sold as per bulletin |
| Sold @ 1033 |
Bought @
1031.50 |
= + $
375.00 |
| TOTAL (P &
L) |
|
+
$2,200.00 |
A TECHNICAL
GUIDE FOR DAY TRADING THE S & P
S
& P - For Wednesday 11-19-03 : NOTE: After
each support and resistance listed will
designate a value - (very major) holds the
highest importance, then (major), (very
significant), and (significant) is of the least
value. Very
aggressive trades - are trades
that are against the trend or a high dollar risk
when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a
sell stop inside a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any
trade to enter or complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only.
Where stops ARE NOT mentioned, they should be
placed below the second support area
listed or above the second
resistance area listed, or 22 points from the (trade
entry point), whichever is the lesser
amount. NOTE: The
first support area becomes the resistance
after the market trades through the second
support area listed. The first
resistance area becomes the support after
the market trades through the second
resistance area listed.
Resistance:
For the Dec. contract
-
1036 intra-day
channel and 1038 peak (major area)
/ 1040.80 day channel and 1041 intra-day
channel (very
major area) / 1043.40 day
session closing price and 1044.30 peak (major
area) / 1046.30 and 1046.40 double
peak also 1048.30 day top to 1048.90 weekly
closing gap (major area) /
1051.70 peak (major) /
1059.20 peak and 1060.50 major long-term
weekly channel (very
major area) / 1062 major
weekly channel and 1062.10 major long-term day
channel also 1062.20 minor weekly channel (very
major area) / 1063.30 weekly
top and 1064.40 GBX weekly top also 1065.10
monthly upper channel (major area)
/ 1066.60 major monthly upper channel (very
major area) / 1069.30 major
weekly upper channel and 1069.90 minor monthly
upper channel also 1070.50 weekly upper
channel and 1071 monthly top (very
major area) / 1073.60 weekly
upper channel (major) /
1077.20 monthly closing price and 1079 day top
(very major
area).
Support:
For the Dec. contract -
1030.70 day gap
and 1029.20 GBX weekly bottom also 1029.90 and
1028.30 major day channels (very
major area) / 1027.50 weekly
channel and 1027.10 major monthly channel (very
major area) / 1022.60 monthly
channel (major area) /
1016.70 and 1016.50 monthly channels also
1016.50 weekly bottom and 1016.30 weekly
channel also 1015.90 major day channel (very
major area) / 1013.80 weekly
channel and 1011.50 day bottom (major
area) / 1006.20 day channel (major
area) / 997.30 monthly bottom and
995.70 minor weekly channel also 994.10 major
monthly gap (very
major area).
Comments:
The sell-off on Tuesday put some bearishness
back into the market but it needs to be
mentioned the significance of the 1029.80 -
1027.10 support area. This area is the
major support on the monthly and weekly chart
and can possibly prove to be solid enough to
hold-off any further drop in prices for a
while and can stimulate rallies possibly back
up to challenge the major top area again.
Remain defensive inside the first neutral
trading area between 1041 - 1027.10 until the
market can confirm a direction.
Day
trades: For The Dec. contract -
Aggressive
traders can sell rallies near 1035 -
1037 area for obj. near 1032 - 1030.70 gap and
possibly near 1027.10 major monthly channel
(Use a buy stop and rev. long at 1038.60).
Aggressive
traders can sell rallies near 1040.80
- 1041 for obj. near 1038 - 1036.50 area.
(Use a buy stop and rev. long at 1044.50).
Aggressive
traders can buy dips near 1030.70 -
1029.80 and if possible near 1027.50 - 1027.10
area for obj. near 1033 - 1036 area.
(Use a sell stop and rev. short at 1024).
Buy
stop at 1038.60 for obj. near 1040 - 1041
area.
Buy
stop at 1044.50 for obj. near 1046.50 -
1048.90 gap area.
Buy
stop at 1053.70 for obj. near 1056.50 -
1058.50 area.
Sell
stop at 1024 for obj. near 1022.60 - 1021 area
and possibly near 1020 - 1018 area.
Sell
stop at 1010 for obj. near 1006.50 and
possibly near 1005.
|
*
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 11/19/03 (10:04 am est)
Short positions were
taken in the 1035 - 1037 area. The sell-off
down to 1033.20 is near enough to the 1032 obj. and
completes the trade.
Bulletin - Originally
sent 11/19/03 (11:10 am est)
he buy stop at 1038.60
was hit putting traders into long positions.
The market is showing signs of resistance at the
level due to the major resistance found at 1041.
It is recommended to
exit the long positions at the market, which is
trading at 1037.50, and scratch the trade.
Bulletin - Originally
sent 11/19/03 (12:10 pm est)
Due to a serious storm
all intra-day data signals have stopped. We
have not had a price quote since 11:58 AM est.
As soon as prices are back we will inform.
TG
Bulletin - Originally
sent 11/19/03 (1:15 pm est)
We have resumed
receiving the technical data and bulletins will be
issued accordingly.
Bulletin - Originally
sent 11/19/03 (2:10 am est)
The rally up to the
1040.80 sell area put traders into short
positions. The obj. to exit is near 1038 -
1036.50. Continue to use a buy stop and rev.
long at 1044.50.
Bulletin - Originally
sent 11/19/03 (2:19 pm est)
The rally in the S
& P brought prices above the major resistance
at 1041 putting some bullishness into the chart.
It is recommended to
exit the short position at the market, which is
trading at 1041.30, and scratch the trade.
Results:
11/19/03
| Sold
@ 1036 |
Bought
@ 1033.50 |
= +
$ 625.00
|
| Bought @
1038.60 |
Sold @
1037.50 |
= -
$ 275.00 |
| Sold @
1039.50 |
Bought @
1036.50 |
= + $
750.00 |
| Sold
@ 1040.80 |
Bought
@ 1041.30 |
=
- $ 125.00 |
| TOTAL
(P & L) |
|
+ $ 975.00 |
A
TECHNICAL GUIDE FOR DAY TRADING THE S
& P
S
& P - For Thursday 11-20-03 : 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 -
1043.30 intra-day channel and 1043.50 peak
also 1043.70 day top and 1044.30 peak (major
area) / 1046.30 and 1046.40 double
peak also 1048.30 day top to 1048.90 weekly
closing gap (major area) /
1051.70 peak and 1052.70 intra-day gap also
1053.50 peak (major area) /
1059.20 peak and 1060.50 major long-term
weekly channel (very
major area) / 1061.80 major
long-term day channel and 1062 major weekly
channel also 1062.20 minor weekly channel (very
major area) / 1063.30 weekly
top and 1064.40 GBX weekly top also 1065.10
monthly upper channel (major area)
/ 1066.60 major monthly upper channel (very
major area) / 1069.30 major
weekly upper channel and 1069.90 minor monthly
upper channel also 1070.50 weekly upper
channel and 1071 monthly top (very
major area) / 1073.60 weekly
upper channel (major) /
1077.20 monthly closing price and 1079 day top
(very major
area).
Support:
For the Dec. contract
-
1040.80 intra-day channel and 1040.80 major
double base also 1040 - 1039.50 rev. peak (major
area) / 1036.70 and 1036.50 double
base also 1035.20 minor day channel (major
area) / 1033.20 day bottom to
1032.80 day gap also 1031.20 day bottom and
1031 day channel also 1031 GBX bottom to
1030.70 day gap (major area)
/ 1029.90 major day channel and 1028.30
weekly channel also 1027.50 weekly channel
and 1027.10 major monthly channel (very
major area) / 1022.60
monthly channel (major area)
/ 1016.70 and 1016.50 monthly channels also
1016.50 weekly bottom and 1016.30 weekly
channel (very
major area) / 1013.80 weekly
channel and 1011.50 day bottom (major
area) / 1007 day channel (major
area) / 997.30 monthly bottom and
995.70 minor weekly channels also 994.10
major monthly gap (very
major area).
Comments:
Surprisingly the market
never gave traders an opportunity to buy the
1029.90 - 1027.10 major support area on
Wednesday but still proved the significance
of the area and stimulated rallies up into
the first major resistance area. A
trade today above the 1046.30 - 1048.90 day
gap can challenge the 1051.70 - 1053.50
peak area. A trade above 1053.50
will challenge the 1059.30 - 1060.50 and
possibly near the 1062.20 weekly channel.
A trade today below the 1035.20 - 1033 area
can challenge the 1030.70 gap and 1027.10
support but only a trade below 1027.10 can
prove a possible change in the trend to the
downside. Remain defensive inside the
first neutral trading area between 1046.30
and 1035.20. Also, a breakout to
either side of the weekly trading area
between 1062.20 and 1027.10.
Day
trades: For The Dec. contract -
Aggressive
traders can buy dips near 1035.80 -
1035.20 and if possible near 1033 area for
obj. near 1037.80 - 1039.30 area. (Use
a sell stop and rev. short at 1031.70).
Aggressive traders can sell
rallies near 1046 - 1048.90 area for obj.
near 1043.50 - 1042 area. (Use a buy
stop and rev. long at 1052).
Aggressive traders can buy
dips near 1028.50 - 1027.10 area for obj.
near 1033 - 1035 area and possibly near
1032. (Use a sell stop and rev. short
at 1024).
Aggressive traders can attempt short
positions near 1059 - 1062 area and
if possible near 1064 for obj. near 1057 -
1055 area. (Use a buy stop and rev.
long at 1067).
Sell stop at 1031.70 for
obj. near 1030.70 - 1029.30 and
possibly near 1027.10 channel support.
Sell stop at 1024 for obj.
near 1022.60 - 1021 area and possibly near
1020 - 1018 area.
Buy stop at 1052 for obj.
near 1053.50 - 1055 area.
Buy stop at 1067 for obj.
near 1069 - 1070.50 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 11/20/03 (9:39 am est)
Long positions were
taken on the opening at 1033. Since the
low was 1032, the sell stop was never hit at
1031.70 keeping the long positions intact.
The rally up to 1037.50 is near enough to the
1037.80, which meets the obj. and completes the
trade.
Bulletin - Originally
sent 11/20/03 (2:25 pm est)
The rally up to 1046
put traders into short positions. The
sell-off down to 1043.50 - 1042 area meets the
obj. and completes the trade.
Results:
11/20/03
| Bought
@ 1033 |
Sold
@ 1037.50 |
= +
$1,125.00
|
| Bought @
1033 |
Sold @
1038 |
= +
$1,250.00 repeat trade |
| Sold @
1046 |
Bought @
1043 |
= + $
750.00 |
| Sold
@ 1031.70 |
Bought
@ 1032 |
=
- $ 75.00 |
| TOTAL
(P & L) |
|
+ $3,050.00 |
A
TECHNICAL GUIDE FOR DAY TRADING THE S
& P
S
& P - For Friday 11-21-03 : 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 -
1036.20 peak (major) /
1037.50 peak and 1038 intra-day channel (major
area) / 1041.90 day channel also
1042.70 and 1043 peaks (very
major area) / 1045.20 minor
day channel and 1046.20 day top (very
major area) / 1048.30 day
top to 1048.90 weekly closing gap (major
area) / 1051.70 peak and 1052.70
intra-day gap also 1053.50 peak (major
area) / 1059.20 peak and 1060.50
major long-term weekly channel (very
major area) / 1061.40 major
long-term day channel and 1062 major weekly
channel also 1062.20 minor weekly channel (very
major area) / 1063.30 weekly
top and 1064.40 GBX weekly top also 1065.10
monthly upper channel (major area)
/ 1066.60 major monthly upper channel (very
major area) / 1069.30 major
weekly upper channel and 1069.90 minor
monthly upper channel also 1070.50 weekly
upper channel and 1071 monthly top (very
major area) / 1073.60 weekly
upper channel (major) /
1077.20 monthly closing price and 1079 day
top (very
major area).
Support:
For the Dec.
contract -
1031.50 day bottom and 1031 GBX bottom
also 1030.70 day gap (major area)
/ 1029.80 GBX bottom and 1028.30 weekly
channel also 1027.50 weekly channel and
1027.10 major monthly channel (very
major area) / 1022.60
monthly channel and 1019.80 day channel (major
area) / 1016.70 and 1016.50
monthly channels also 1016.50 weekly
bottom and 1016.30 weekly channel (very
major area) / 1013.80
weekly channel and 1011.50 day bottom (major
area) / 1007.80 day channel (major
area) / 997.30 monthly bottom and
995.70 minor weekly channel also 994.10
major monthly gap (very
major area).
Comments:
The whiplashing on
Thursday proved the neutral condition
leaving the chart defensive near the major
support area. A trade below the
1028.30 - 1027.10 major support will put
the chart in bearish condition for a
possible change of trend to the downside.
A trade below 1016.70 - 1016.50 major
support will confirm the downtrend intact
for lower prices to follow. A trade
today above 1038 is slightly bullish but a
trade above 1041.90 and 1045.20 channel
can possibly bring prices up to challenge
the major resistance of 1060.50 -
1062. Remain defensive inside the
first neutral area between 1038 and
1028.30 and the wider neutral range
between 1041.90 and 1027.10.
Day
trades: For The Dec. contract -
Aggressive traders can sell
rallies near 1036 - 1038 area or buy dips
near 1031 - 1028.50 and if possible near
1027.50 - 1027.10 area, whichever side
comes first to complete the trade.
(Use a protective buy stop at 1038.90.
Do not rev. long). (Use a sell stop
and rev. short at 1024).
Aggressive traders can sell
rallies near 1041.90 - 1045.30 area for
obj. near 1038.50 - 1036.50 area.
(Use a buy stop and rev. long at 1047.40).
Buy stop at 1047.40 for
obj. near 1048.90 - 1051.70 area.
Buy stop at 1054 for obj.
near 1057 - 1059 area and possibly near
1060.50.
Sell stop at 1024 for
obj. near 1022.60 - 1019.80.
|
*
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 11/21/03 (10:09 am est)
Short positions
were taken on the opening at 1036.50.
The market is showing signs of support at the
1033.70 area, where traders should consider
exiting the short position and take profits
near 1034, which completes the trade.
Bulletin - Originally
sent 11/21/03 (11:34 am est)
The sell-off down
to 1031 put traders into long positions.
The rally up to 1035.20 is near enough to the
1036 obj. and completes the trade.
Results:
11/21/03
| Sold
@ 1036.50 |
Bought
@ 1034 |
= +
$ 625.00
|
| Bought
@ 1031 |
Sold
@ 1035.20 |
=
+ $1,050.00 |
| TOTAL
(P & L) |
|
+ $1,675.00 |
The week in review -
11/24/03 - 11/28/03
The
Tech Guru's S & P Day Trading
Recommendations
A
TECHNICAL GUIDE FOR DAY TRADING THE S
& P
S
& P - For Monday 11-24-03 : 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 -
1037 day top and 1037.10 rev. channel also
1037.70 day channel (major area)
/ 1040.30 intra-day channel (major
area) / 1042.70 and 1043 peaks
also 1044.10 minor day channel (very
major area) / 1046.20 and
1048.30 day tops also 1048.90 weekly
closing gap (major area)
/ 1051.70 and 1053.50 peaks (major
area) / 1057.60 major long-term
weekly channel (very
major area) / 1059.20 peak
and 1060.70 major weekly channel also
1061.10 minor weekly channel and major
long-term channel (very
major area) / 1063.30
weekly top and 1064.40 GBX top also
1065.10 monthly upper channel (major
area) / 1066.60 major monthly
upper channel (very
major area) / 1069.90
minor monthly upper channel and 1071
monthly top also 1071.70 major weekly
upper channel (very
major area) / 1073.60
weekly upper channel (major)
/ 1077.20 weekly upper channel and 1077.20
monthly closing price and 1079 day top (very
major area).
Support:
For the Dec.
contract -
1034.50 intra-day channel and 1033.90
newly developed minor weekly channel
also 1033.10 weekly channel and 1033
base (very
major area) / 1031.70
and 1031.10 day channels also 1031.10
weekly channel and 1030.40 weekly bottom
(very
major area) / 1027.30
weekly bottom and 1027.10 major monthly
channel (very
major area) / 1022.70
minor down channel (major area)
/ 1020.30 weekly channel and 1017.50
major weekly channel also 1016.70 and
1016.50 monthly channels (very
major area) / 1011.50
Bottom (major) / 1008
day channel and 1006.60 minor monthly channel
(very
major area) / 997.30
weekly bottom to 994.10 monthly gap (very
major area).
Comments:
The market closed up
for the day on Friday but down for the
second weekly in a row, leaving the
chart in neutral condition between the
1044.10 resistance and 1027.10 support.
A trade above 1037.70 can bring prices
up to challenge the 1044.10 - 1046.20
area. A trade above 1044.10 -
1046.20 area and 1048.90 can bring
prices up to challenge the top area
again. A trade below 1030.10 -
1027.10 area can challenge the 1020.30 -
1017.50 major support and prove the down
trend intact. A trade below
1017.50 - 1016.50 area will confirm the
downtrend intact for lower prices to
follow. Remain defensive inside
the first neutral area between 1037.50 -
1031.10 area and second between 1044.10
- 1027.10 area.
Day
trades: For The Dec. contract
-
If the
market opens below 1037.70, aggressive
traders can sell near
1037.10 - 1037.70 area for obj. near
1033.90 - 1031 area. (Use a
protective buy stop at 1039). Cancel
if opening is higher.
If the
market opens above 1037.70, aggressive
traders can sell rallies
near 1041 - 1044 area for obj. near
1038.50 - 1037.50 and possibly near
1034.50. (Use a buy stop and rev.
long at 1047.20).
Aggressive traders can buy
dips near 1030 - 1027.10 area for obj.
near 1035 - 1037 area. (Use a sell
stop and rev. short at 1024).
Buy stop at 1047.20 for
obj. near 1049 - 1051 area.
Buy stop at 1054.50 for
obj. near 1057 - 1059 area and possibly
near 1060.50.
Buy stop at 1067.50 for
obj. near 1069.30 - 1071 area.
Sell stop at 1024 for
obj. near 1022 - 1020.30 area and
possibly near 1017.50 - 1016.50 area.
Sell stop at 1013.50
for obj. near 1011.50 and possibly near
1008.
|
*
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 11/24/03 (11:07 am est)
The buy stop was
hit at 1047.20 putting traders into long
positions. The rally up to 1049 meets
the obj. and completes the trade.
Results:
11/24/03
| Sold
@ 1041 |
Bought
@ 1047.20 |
= -
$1,550.00
|
| Bought
@ 1047.20 |
Sold
@ 1049 |
=
+ $ 450.00 |
| TOTAL
(P & L) |
|
- $1,100.00 |
A
TECHNICAL GUIDE FOR DAY TRADING THE
S & P
S
& P - For Tuesday 11-25-03 : NOTE: After
each support and resistance listed will
designate a value - (very major) holds
the highest importance, then (major),
(very significant), and (significant) is
of the least value. Very
aggressive trades - are
trades that are against the trend or a
high dollar risk when wide stops are
used. "The
Golden Rule"
- Do not use a buy
stop inside a sell area or a sell
stop inside a buy area. The
word NEAR can
be 1/2 to 1 point from a price listed in
any trade to enter or complete a trade.
Special
instructions for using stops -
All
stops listed are for the day session
only. Where stops ARE NOT
mentioned, they should be placed below
the second support area listed or
above the second resistance
area listed, or 22 points from the (trade
entry point), whichever is the
lesser amount. NOTE: The
first support area becomes the resistance
after the market trades through the second
support area listed. The
first resistance area becomes the support
after the market trades through the second
resistance area listed.
Resistance:
For the Dec.
contract -
1049.40 newly developed day channel (major)
/ 1050.20 rev. channel and 1051
intra-day channel and 1051.40 day top
also 1051.70 peak (major area)
/ 1053.50 peak (major)
/ 1059.20 peak and 1060.70 major
long-term day channel also 1060.70 major
weekly channel (very
major area) / 1063.30
weekly top and 1064.40 weekly GBX top (major
area) / 1065.10 monthly upper
channel and 1066.60 major monthly upper
channel (very
major area) / 1069.90
minor monthly upper channel and 1071
monthly top also 1071.70 major weekly
upper channel (very
major area) / 1073.60
weekly upper channel (major)
/ 1077.20 weekly upper channel and
1077.20 monthly closing price also 1079
day top (very
major area).
Support:
For the Dec.
contract -
1047.80 and 1047.50 base (major)
/ 1046.20 base and 1044.60 base (major
area) / 1043.40 intra-day
channel and 1041.60 base (major
area) / 1040.30 day bottom
and 1037 rev. peak also 1036.30 weekly
closing gap (major area)
/ 1033.10 major long-term day channel
and 1031.80 day channel (very
major area) / 1030.40
weekly bottom and 1029.80 GBX bottom (major
area) / 1027.30 weekly bottom
and 1027.10 major monthly channel (very
major area) / 1022.70
minor down channel (major
area) / 1021 day channel and
1020.30 weekly channel (very
major area) / 1017.50
major weekly channel also 1016.70 and
1016.50 monthly channels (very
major area) / 1011.50
bottom (major) / 1009
day channel and 1006.60 minor monthly
channel (very
major area) / 997.30
weekly bottom to 994.10 monthly gap (very
major area).
Comments:
The rally seen from
the major support area was expected
because of the significance of
the 1027.10 monthly channel. The
chart is now in neutral to slightly
bullish condition but still faces the
major resistance near the top area.
A trade above 1059.20 - 1060.70 will
challenge the 1063.30 - 1064.40 top
area but only a trade above 1066.60
and 1069.90 can confirm the uptrend
intact for higher prices. A
trade below 1043.40 - 1041.60 area is
slightly bearish but only a trade
below 1033.10 and 1027.10 can bring
any solid bearishness back to the
chart. Remain defensive inside
the first neutral area between 1051
and 1043.40 and also inside the weekly
trading range between 1060.50 -
1027.10.
Day
trades: For The Dec.
contract -
Aggressive traders can buy
dips near 1046 - 1043.40 area or sell
rallies near 1051 - 1053.50 area,
whichever side comes first to complete
the trade. (Use a sell stop and
rev. short at 1041.40). (Use a
buy stop and rev. long at 1054.50).
Aggressive traders can buy
dips near 1033.10 - 1031.80 area for
obj. near 1038 - 1040 area. (Use
a sell stop and rev. short at 1024).
Aggressive traders can sell
rallies near 1059.20 - 1060.70 area
for obj. near 1056 - 1054 area.
(Use a buy stop and rev. long at
1061.70).
Sell stop at 1041.40
for obj. near 1040 - 1036.30 gap area.
Sell stop at 1024.70
for obj. near 1022.70 - 1021 area.
Sell stop at 1015.40
for obj. near 1012 - 1011.50 area and
possibly near 1009.
Buy stop at 1054.50
for obj. near 1058 - 1059.20 area and
possibly near 1060.70.
Buy stop at 1061.70
for obj. near 1063.30 - 1064.50 area
and possibly near 1066.60 area.
Buy stop at 1074 for
obj. near 1077 - 1079 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 11/25/03 (9:55 am est)
Short
positions were taken on the opening at
1051. The sell-off down to 1048.20
missed the obj. at 1046. The rally
from the 1048.20 is showing signs of
support. Traders should now exit the
short position at 1051 and scratch the
trade.
Bulletin - Originally
sent 11/25/03 (11:33 am est)
The buy stop
at 1054.50 was hit, putting traders into
long positions. Please NOTE that
this buy stop was accidentally eliminated
from the list of buy stops at the bottom
of today's report. It was only found
as a stop and rev. long listed in the
first trade. It is now being entered
and will be sent as a refresh of today's
report.
The buy stop
was it at 1054.40, putting traders into
long positions. The obj. for the
long position to exit near 1058 -
1059.20 and possibly near 1060.70.
Bulletin - Originally
sent 11/25/03 (3:44 pm est)
Long positions
were taken on the buy stop at 1054.50.
The rally up to 1057.70 is near enough to
the 1058 obj. and completes the trade.
Results:
11/25/03
| Sold
@ 1051 |
Bought
@ 1051 |
=
$ -0-
|
| Bought @
1054.50 |
Sold @
1057.50 |
= +
$ 750.00 |
| Sold
@ 1057.50 |
Bought
@ 1054.50 |
=
+ $ 750.00 |
| TOTAL
(P & L) |
|
+ $1,500.00 |
A
TECHNICAL GUIDE FOR DAY TRADING
THE S & P
S
& P - For Wednesday 11-26-03 : NOTE: After
each support and resistance listed
will designate a value - (very major)
holds the highest importance, then
(major), (very significant), and
(significant) is of the least value.
Very
aggressive trades -
are trades that are against the trend
or a high dollar risk when wide stops
are used. "The
Golden Rule"
- Do not use a buy
stop inside a sell area or a sell
stop inside a buy area. The
word NEAR can
be 1/2 to 1 point from a price listed
in any trade to enter or complete a
trade.
Special
instructions for using stops
- All
stops listed are for the day session
only. Where stops ARE NOT
mentioned, they should be placed below
the second support area listed or
above the second resistance
area listed, or 22 points from the (trade
entry point), whichever is the
lesser amount. NOTE: The
first support area becomes the resistance
after the market trades through the second
support area listed. The
first resistance area becomes the support
after the market trades through the second
resistance area listed.
Resistance:
For the Dec.
contract -
1055.80 peak (major)
/ 1056.90 day channel and 1057.50 peak
also 1057.70 top (major area)
/ 1059.20 peak and 1060.60 major
long-term day channel also 1060.70
major weekly channel (very
major area) / 1063.30
weekly top and 1064.40 weekly GBX top (major
area) / 1065.10 monthly upper
channel and 1066.60 major monthly
upper channel (very
major area) / 1069.90
minor monthly upper channel and 1071
monthly top also 1071.70 major weekly
upper channel (very
major area) / 1073.60
weekly upper channel (major)
/ 1077.20 weekly upper channel and
1077.20 monthly closing price also
1079 day top (very
major area).
Support:
For the Dec.
contract -
1052.70 intra-day channel and base
also 1051.60 and 1051.20 base (major
area) / 1048.70 base and
1048.20 day bottom also 1046.20 base
and 1045.10 day channel with GBX
prices (very
major area) /
1040.30 day bottom (major)
/ 1036.30 weekly closing gap and
1035.30 GBX bottom also 1034 major
long-term day channel (very
major area) /
1032.50 day channel and 1030.40
weekly bottom also 1029.80 GBX
bottom (major area)
/ 1027.30 weekly bottom and 1027.10
major monthly channel (very
major area) / 1022
day channel and 1020.30 weekly
channel (very
major area) /
1017.50 major weekly channel also
1016.70 and 1016.50 monthly channels
(very
major area) /
1011.50 bottom and 1009.80 day
channel (major area)
/ 1006.60 minor monthly channel (very
major area).
Comments:
The rally on
Tuesday brought prices up near the
major channel resistance and
top area, which can possibly
stimulate selling pressure for
retracement to the downside. A
trade above 1060.70 is bullish and a
trade above 1066.60 - 1069.90 area
will be considered a breakout for
higher prices. A trade below
1045.10 is slightly bearish but only
a trade below 1032.50 and 1027.10
can bring any solid bearishness back
to the chart. Remain defensive
inside the 1060.70 - 1045.10 neutral
area.
Day
trades: For The Dec.
contract -
Aggressive traders can sell
rallies near 1058 - 1060.70 area for
obj. near 1053.50 - 1052.50 area.
(Use a buy stop and rev. long at
1061.70).
Buy stop at 1061.70
for obj. near 1063.30 - 1064.50
area.
Aggressive traders can buy
dips near 1047 - 1045.10 area for
obj. near 1050 - 1052 area.
(Use a sell stop and rev. short at
1042).
Sell stop at 1042
for obj. near 1040 - 1036.30 gap
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 11/26/03 (9:46 am est)
Long
positions were taken on the opening at
1057.30, which is near enough to the
1058 sell area. The obj. still
remains at 1053.50 - 1052.50 area.
(Continue to use a buy stop and rev.
long at 1061.70).
Bulletin - Originally
sent 11/26/03 (9:56 am est)
The long
positions at 1057.50 taken this morning
is near the obj. The sell-off down
to 1054.30 can possibly hold as support.
It is
recommended for traders to exit the
short position and take profits near
1055.30.
Bulletin - Originally
sent 11/26/03 (11:37 am est)
The sell-off
down to 1047.20 is near enough to the
1047 buy area putting traders into long
positions.
The obj.
remains at 1050 - 1052. Continue
to use a sell stop and rev short at
1042.
Bulletin - Originally
sent 11/26/03 (11:42 am est)
Long
positions were taken at 1047.50.
The rally up to 1050.50 meets the obj.
and completes the trade.
CORRECTION
-
Bulletin - Originally
sent 11/26/03 (9:46 am est)
Short positions
were taken on the opening at
1057.30, which is near enough to the
1058 sell area. The obj. still
remains at 1053.50 - 1052.50 area.
(Continue to use a buy stop and rev.
long at 1061.70).
CORRECTION
-
Bulletin - Originally
sent 11/26/03 (9:56 am est)
The short
positions at 1057.50 taken this
morning is near the obj. The
sell-off down to 1054.30 can possibly
hold as support.
It is
recommended for traders to exit the
short position and take profits near
1055.30.
Results:
11/26/03
| Sold
@ 1057.30 |
Bought
@ 1055 |
= +
$ 575.00
|
| Bought
@ 1047.50 |
Sold
@ 1050.50 |
=
+ $ 750.00 |
| TOTAL
(P & L) |
|
+ $1,325.00 |
A
TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S
& P - For Friday 11-28-03 : 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 -
1059.20 peak and 1059.50 major
long-term day channel also 1060.70
major weekly channel (very
major area) /
1063.30 weekly top and 1064.40
weekly GBX top (major
area) / 1065.10 monthly
upper channel and 1066.60 major
monthly upper channel also 1067.50
monthly closing price (very
major area) /
1069.90 minor monthly upper
channel and 1071 monthly top also
1071.70 major weekly upper channel
(very
major area) /
1073.60 weekly upper channel (major)
/ 1077.20 weekly upper channel and
1077.20 monthly closing price also
1079 day top (very
major area) / 1089
weekly top for the Dec. contract (major)
/ 1094 day session closing price
and monthly closing price for the
Dec. contract also 1096 day top (very
major area) /
1107.90 monthly top (very
major area).
Support:
For the
Dec. contract -
1055.30 base and 1054.90 day
channel with GBX prices also
1054.10 minor day channel and
1053.80 base (major
area) / 1051.30 base (major)
/ 1047.20 day bottom and 1046.30
base (very
major area) /
1040.30 day bottom (major)
/ 1037.20 major long-term day
channel and 1036.30 weekly
closing gap also 1035.90 major
day channel and 1035.30 GBX
bottom (very
major area) /
1033.90 day channel (major
area) / 1031.80 base
and 1030.40 day bottom also
1029.80 GBX bottom (major
area) / 1027.30 weekly
bottom and 1027.10 major monthly
channel (very
major area) /
1024 day channel (major)
/ 1021.30 day channel day
channel also 1020.30 weekly
channel (very
major area) /
1017.50 major weekly channel
also 1016.70 and 1016.50 monthly
channels (very
major area) /
1011.80 day channel and 1011.50
day bottom (major area)
/ 1006.60 minor monthly channel (very
major area) /
997.30 weekly bottom and 994.10
monthly closing gap (very
major area).
Comments:
The market
closed up for the 4th day in a
row on Wednesday, which is
bullish, but it still faces the
major channel resistance at
1060.70 and the major top at
1063.30 - 1064.40 area that can
still hold back rallies. A
trade above the 1066.60 -
1069.90 resistance area will
confirm the uptrend intact for
higher prices to follow. A
trade today below 1054.90 -
1054.10 area is slightly bearish
but only a trade below 1037.20 -
1033.90 area can bring any solid
bearishness back to the chart.
A trade below 1027.10 will
confirm a downtrend in play for
lower prices. Remain
defensive inside the first
narrow trading range between
1060.70 and 1054.10.
Day
trades: For The Dec.
contract -
Aggressive traders can
buy dips near 1055 -
1054.10 area or sell rallies
near 1059 - 1060.70 area,
whichever side comes first, to
complete the trade. (Use a
sell stop and rev. short at
1052). (Use a buy stop and
rev. long at 1062).
Aggressive traders can
attempt short positions
near 1066.60 - 1067.50 area and
if possible near 1069 for obj.
near 1063 - 1060 area.
(Use a buy stop and rev. long at
1074).
Buy stop at
1062 for obj. near 1064 - 1066
area.
Buy stop at
1074 for obj. near 1077 - 1079
area.
Sell stop at
1052 for obj. near 1048 -
1046.30 area.
Sell stop at
1044.50 for obj. near 1041 -
1040.30 area and possibly near
1037.20.
|
*
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 11/28/03 (9:36 am est)
The sell
off down to 1056 showed an intra-day
double bottom, where long positions
were taken which was near enough to
the 1055 buy area. The obj.
still remains at 1059 - 1060.70
area, which will be considered a
sell area for short positions to be
taken. (Continue to use a sell
stop and rev. short at 1052, and
continue to use a buy stop and rev.
long at 1062).
Bulletin - Originally
sent 11/28/03 (10:29 am est)
Long
positions were taken at 1056.
The rally up to 1058.30 is near
enough to the 1059 obj. for traders
to consider taking profits and
complete the trade.
Bulletin - Originally
sent 11/28/03 (11:08 am est)
The
rally up to 1059 - 1060 put traders
into short positions.
(Continue to use a buy stop and rev.
long at 1062). The obj. can be
1057 - 1056 area to complete this
trade.
Bulletin - Originally
sent 11/28/03 (12:49 pm est)
Short
positions were taken at 1059.50.
The sell-off down to 1057.50 is
near enough to the 1057 obj. for
traders to consider taking profits
and complete the trade.
Results:
11/28/03
|
Bought @ 1056 |
Sold
@ 1058 |
= +
$ 500.00
|
|
Sold @ 1059.50 |
Bought
@ 1057.50 |
=
+ $ 500.00 |
| TOTAL
(P & L) |
|
+ $1,000.00 |
The week in review -
12/01/03
- 12/05/03
The
Tech Guru's S & P Day Trading
Recommendations
A
TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S
& P - For Monday
12-01-03 : 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 -
1058.90 intra-day channel and
1059.20 peak also 1059.30
major weekly channel and 1060
minor weekly channel and
1060.10 weekly top (very
major area) /
1062 and 1064 newly developed
monthly channels also 1063.30
weekly top and 1064.40 GBX
weekly top (very
major area) /
1066.60 monthly rev. channel
and 1067.50 monthly closing
price (major area)
/ 1071 monthly top and 1071.40
minor monthly upper channel (very
major area) /
1073.60 and 1074.90 monthly
upper channels also 1074.10
weekly major upper channel (very
major area) /
1076.80 monthly and weekly
major upper channels also
1077.20 monthly closing price (major
area) / 1079 day top
and 1080.90 weekly upper
channel (major area)
/ 1084.60 minor monthly upper
channel (very
major area) /
1089 weekly top for the Dec.
contract (major)
/ 1094 monthly closing price
for the Dec. contract also
1096 day top (very
major area) /
1107.90 monthly top (very
major area).
Support:
For
the Dec. contract -
1057.30 base and 1057
monthly channel also 1056
day bottom and 1055.30 base (major
area) / 1054.10 and
1053.80 base also 1053 major
long-term monthly channel (very
major area)
/ 1051.30 base and 1050.20
weekly channel also 1047.90
monthly channel and 1047.20
day bottom and 1046.20 base (very
major area)
/ 1043.70 monthly channel (major)
/ 1041.90 major long-term
weekly channel and 1041.20
weekly channel also 1040.30
weekly bottom and 1040.20
weekly channel (very
major area)
/ 1038.70 weekly channel and
1038.50 major long-term day
channel also 1037.10 major
day channel and 1036.10
major monthly channel also
1036.30 weekly gap and
1035.30 GBX weekly bottom (very
major area)
/ 1030.40 weekly bottom and
1029.90 monthly channel (very
major area)
/ 1027.30 weekly bottom and
1025.10 major monthly
channel also 1024.30 weekly
channel (very
major area)
/ 1021.20 weekly channel and
1016.50 weekly bottom (very
major area)
/ 1012 day channel and
1011.50 day bottom (major
area) / 997.90
minor weekly channel and
997.30 weekly bottom (major
area) / 994.20 GBX
bottom and 994.10 monthly
gap also 988 weekly bottom (very
major area).
Comments:
Friday's
session remained inside the
narrow neutral range leaving
the chart neutral inside the
first trading range between
1064 - 1053 area. The
chart continues to face the
major resistance and top at
1060 to 1064.40 area.
Because of the significance
of the support areas,
retracement down to the
1050.20 and 1038.70 support
areas can still be
considered a buy. Only
a trade below 1025.10 -
1021.20 area can bring any
solid bearishness back to
the chart. Remain
defensive between 1064 -
1053 area.
Retracements down can
develop due to the major top
resistance but major
supports can still stimulate
rallies for a back and forth
whiplashing week.
Day
trades: For The
Dec. contract -
Aggressive traders
can sell rallies
near 1060 - 1064 area or buy
dips near 1057.50 - 1053
area, whichever side comes
first to complete the trade.
(Use a buy stop and rev.
long at 1067.50. (Use
a sell stop and rev. short
at 1052.50). NOTE:
This trade can be repeated
by taking each
side once.
Buy stop at
1067.50 for obj. near 1070 -
1071.40 area.
Buy stop at
1072 for obj. near 1074 -
1076 area.
Sell stop
at 1052.50 for obj. near
1050.50 - 1047.20 area.
Sell stop
at 1045.70 for obj. near
1043.50 - 1041.90 area and
possibly near 1040.30
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 12/01/03
(12:21 pm est)
The
buy stop was hit at 1067.50
putting traders into long
positions. At this
time the 1068.40 area is
showing signs of resistance.
It
is recommended for traders to
exit the long positions at the
market, which is trading at
1068.30 at this time, and take
profits.
Results:
12/01/03
| Sold
@ 1062.50 |
Bought
@ 1067.50 |
=
- $1,250.00
|
| Bought
@ 1067.50 |
Sold
@ 1068.30 |
= +
$ 200.00
|
| TOTAL
(P & L) |
|
- $1,050.00 |
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S &
P - For Tuesday 12-02-03 : 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 -
1071 monthly top and 1071.40 minor weekly upper channel (major
area) / 1073 major daily upper channel and 1073.60 monthly
upper channel (very major area)
/ 1074.10 weekly major upper channel and 1074.90 monthly upper
channel (very major area)
/ 1076.80 monthly and weekly major upper channels also 1077.20
monthly closing price (major area) / 1079 day top
and 1080.90 weekly upper channel (major area) /
1084.60 minor monthly upper channel (very
major area) / 1089 weekly top for the Dec. contract (major)
/ 1094 monthly closing price for the Dec. contract also 1096 day top
(very major area) /
1107.90 monthly top (very major area).
Support: For
the Dec. contract -
1066.20 day channel and 1065 base also 1064.50 intra-day channel (very
major area) / 1061.50 day bottom and 1060 day
channel with GBX prices also 1060.10 rev. peak (very
major area) / 1058 minor day channel and 1057.80
weekly closing gap also 1055.80 GBX bottom (major area)
/ 1053.80 GBX bottom (major) / 1049.40 day
session closing price and 1047.20 day bottom (major area)
/ 1043.70 monthly channel (major) / 1041.90 major
long-term weekly channel and 1041.20 weekly channel also 1040.30
weekly bottom and 1040.20 weekly channel also 1039.50 major
long-term day channel (very major
area) / 1036.30 weekly closing gap and 1035.30 GBX
bottom also 1035 day channel (major area) /
1030.40 weekly bottom and 1029.90 monthly channel (very
major area) / 1027.30 weekly bottom and 1025.10
major monthly channel also 1024.30 weekly channel (very
major area) / 1023 day channel and 1021.32 weekly
channel (major area) / 1016.50 weekly bottom (very
major area).
Comments:
The rally on Monday broke above the double top
area but now faces the major upper channels. A trade above
1073 - 1076.80 area will confirm the uptrend intact for higher
prices to follow. A trade today below 1066.20 is slightly
bearish but only a trade below 1058 - 1055.30 can bring any
bearishness back to the chart. Remain defensive inside the
1073 - 1066.20 first trading range.
Day trades:
For The Dec. contract -
Aggressive traders can buy dips near 1068 -
1066.20 area for obj. near 1070 - 1073 area. (Use a
protective sell stop at 1061. Do not rev. short)
Aggressive traders can sell rallies near 1071 -
1073 area for obj. near 1069 - 1068 area. (Use a buy stop
and rev. long at 1074.30).
Buy stop at 1074.30 for obj. near 1076.50 -
1076.80 area and possibly near 1077.20.
Sell stop at 1053 for obj. near 1049.50 - 1047.20
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 12/02/03 (11:23 am est)
Long positions were
taken on the opening at 1067.50. The rally up to 1069.30 is
near enough to the 1070 obj. and completes the trade.
Bulletin
- Originally sent 12/02/03 (2:06 pm est)
The rally up to 1071
put traders into short positions. The sell-off down to
1068.50 meets the obj. and completes the trade.
Results:
12/02/03
| Bought @
1067.50 |
Sold @
1069 |
= +
$ 375.00
|
| Sold @
1071 |
Bought @
1068.50 |
= +
$ 625.00
|
| TOTAL (P
& L) |
|
+ $1,000.00 |
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Wednesday 12-03-03 : 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 -
1067.50 double peak and 1068.80 peak (major)
/ 1070.60 day channel also 1071 monthly top and daily top
also 1071.40 minor weekly upper channel and 1073.50 major
daily upper channel also 1073.60 monthly upper channel
(very major area) / 1074.10 major weekly
upper channel and 1074.90 monthly upper channel (major
area) / 1076.80 major monthly and weekly upper
channels also 1077.20 monthly closing price (major
area) / 1079 day top and 1080.90 weekly upper
channel (major area) / 1084.60 minor
monthly upper channel (very
major area) / 1089 weekly top for the Dec.
contract (major) / 1094 monthly closing
price for the Dec. contract also 1096 day top (very
major area) / 1107.90 monthly top (very
major area).
Support: For
the Dec. contract -
1065.40 base and 1064.50 day bottom also 1064.40 minor day
channel (major area) / 1062 minor day
channel with GBX prices and 1061.50 day bottom (very
major area) / 1057.80 weekly closing gap
and 1055.80 GBX bottom (major area) / 1053.80 GBX
bottom (major) / 1049.40 day session
closing price and 1047.20 day bottom (major area)
/ 1043.70 monthly channel (major area) /
1041.90 major long-term weekly channel and 1041.20 weekly
channel also 1041 major long-term day channel and 1040.30
weekly bottom also 1040.20 weekly channel (very
major area) / 1036.30 weekly closing gap
and 1035.80 day channel also 1035.30 GBX weekly bottom (major
area) / 1030.40 weekly bottom and 1029.90 monthly
channel (very major area)
/ 1027.30 weekly bottom and 1025.10 major monthly
channel also 1024.30 weekly channel (very
major area) / 1021.30 weekly channel (major
area) / 1016.50 weekly bottom (very
major area).
Comments:
Tuesday's trading range remained inside
the first trading area showing signs of resistance at the
1071 - 1073.50 area, but also showing good support at
1064.50. A trade above 1073.50 - 1076.80 area can
possibly prove the uptrend intact for higher prices.
A trade today below 1064.40 - 1061.50 area will be slightly
bearish but only a trade below 1041.90 - 1040.20 area can
bring any solid bearishness back to the chart.
Remain defensive inside the first trading area
between 1073.50 - 1064.40 area.
Day
trades: For The Dec. contract -
Aggressive traders can sell rallies near
1070 - 1073 area or buy dips near 1066.50 - 1064.40 area,
whichever side comes first to complete the trade.
(Use a buy stop and rev. long at 1074.30). (Use a
sell stop and rev. short at 1060).
Buy stop at 1074.30 for obj. near 1076.30
- 1077.20 area.
Sell stop at 1060 for obj. near 1058 -
1056 area.
Sell stop at 1053 for obj. near 1049.50 -
1047.20 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 12/03/03 (10:13 am est)
Short positions were
taken inside the 1070 - 1073 area. The sell-off down to
1068 is showing signs of support. Traders should consider
taking profits at this time. The market is trading at
1068.50. This completes the first trade.
Bulletin
- Originally sent 12/03/03 (11:22 am est)
The sell-off down to
1066.60 put traders into long positions. The rally up to
1070 meets the obj. and completes the trade.
Results:
12/03/03
| Sold @
1070 |
Bought @
1068 |
= +
$ 500.00
|
| Bought @
1066.60 |
Sold @
1070 |
= +
$ 850.00
|
| TOTAL (P
& L) |
|
+ $1,350.00 |
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Thursday 12-04-03 : NOTE: After
each support and resistance listed will designate a value -
(very major) holds the highest importance, then (major),
(very significant), and (significant) is of the least value.
Very aggressive trades -
are trades that are against the trend or a high dollar risk
when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell stop
inside a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter
or complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where
stops ARE NOT mentioned, they should be placed below
the second support area listed or above the
second resistance area listed, or 22 points from the (trade
entry point), whichever is the lesser amount. NOTE: The
first support area becomes the resistance after
the market trades through the second support area
listed. The first resistance area becomes the support
after the market trades through the second
resistance area listed.
Resistance: For
the Dec. contract -
1066.30 and 1066.50 peaks (major area) /
1068.20 peak and 1068.50 intra-day channel (major
area) / 1071.50 and 1072 peaks (major area)
/ 1074 day top and 1074.10 major weekly upper channel also
1074.90 monthly upper channel (major area)
/ 1076.80 major monthly and weekly upper channels also
1077.20 monthly closing price (major area)
/ 1079 day top and 1080.90 weekly upper channel (major
area) / 1084.60 minor monthly upper channel (very
major area) / 1089 weekly top for the Dec.
contract (major) / 1094 monthly closing
price for the Dec. contract also 1096 day top (very
major area) / 1107.90 monthly top (very
major area).
Support: For
the Dec. contract -
1064.40 minor day channel with GBX prices and 1064.30 day
bottom (major area) / 1061.80 GBX channel
and 1061.50 day bottom (very
major area) / 1057.80 weekly closing gap
and 1055.80 GBX bottom (major area) /
1053.80 GBX bottom (major) / 1049.40 day
session closing price and 1047.20 day bottom (major
area) / 1043.70 monthly channel and 1042.20 major
long-term day channel (very
major area) / 1041.90 major long-term
weekly channel and 1041.20 weekly channel also 1040.30
weekly bottom and 1040.20 weekly channel (very
major area) / 1036.70 day channel and
1036.30 weekly closing gap also 1035.30 GBX weekly bottom (very
major area) / 1030.40 weekly bottom and
1029.90 monthly channel (very
major area) / 1027.30 weekly bottom (major)
/ 1025.10 major monthly channel and 1024.30 weekly channel
(very major area)
/ 1021.30 weekly channel (major area) /
1016.50 weekly bottom (very
major area).
Comments:
The sell-off on Wednesday from the
major resistance proved the significance of the area and
managed to close down below the last two days closing
price after making new highs. This is considered a
minor key reversal and can be considered slightly bearish
but technically still holds support. A trade below
the 1064.40 - 1061.50 area is bearish and can
challenge the 1057.80 weekly gap. A trade below
1055.80 - 1053.80 area can challenge the 1047.20
bottom and possibly near the 1043.70 - 1041.90 major
support area. At this time only a trade below
1040.30 and 1036.30 can bring any solid bearishness back
to the chart. Remain defensive today inside the
1068.50 - 1061.80 narrow neutral trading area until a
solid direction can be established.
Day
trades: For The Dec. contract -
Aggressive traders can sell rallies near
1067 - 1068.50 area and if possible near 1071 for obj.
near 1065 - 1064.40 area and possibly near 1061.80.
(Use a buy stop and rev. long at 1077.80).
(Conservative traders can use a protective buy stop at
1073.30. Do not rev. long).
Aggressive traders can buy dips near 1062
- 1061.50 area for obj. near 1064 - 1065 area. (Use
a sell stop and rev. short at 1059.70).
Buy stop at 1077.80 for obj. near 1079.80
- 1080.90 area.
Buy stop at 1082.30 for obj. near 1084.30
- 1084.80 area and possibly near 1087.
Sell stop at 1059.70 for obj. near
1057.80 gap and possibly near 1056 - 1055.80 GBX bottom
area.
Sell stop at 1052.80 for obj. near
1049.40 - 1047.20 bottom 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 12/04/03 (9:50 am est)
The rally up to
1066.70 was near enough to the 1067 sell area, putting traders
into short positions. The sell off down to 1065 meets
the obj. and completes the trade.
Bulletin
- Originally sent 12/04/03 (1:41 pm est)
Short positions
were taken on the rally up to the high end of the sell
area at 1068.50 - 1071. The sell-off down to the
1065 meets the obj. and completes the trade.
Results:
12/04/03
| Sold @ 1066.70 |
Bought @ 1065 |
= + $
425.00 |
| Sold
@ 1070 |
Bought @ 1065 |
= + $1,250.00 |
| Bought @ 1062.80 |
Sold
@ 1065 |
= + $
550.00 |
| TOTAL (P &
L) |
|
+ $2,225.00 |
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Friday 12-05-03 : NOTE: After
each support and resistance listed will designate a
value - (very major) holds the highest importance, then
(major), (very significant), and (significant) is of the
least value. Very
aggressive trades - are trades that are
against the trend or a high dollar risk when wide stops
are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell
stop inside a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to
enter or complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where
stops ARE NOT mentioned, they should be placed below
the second support area listed or above
the second resistance area listed, or 22 points from
the (trade entry point), whichever is the
lesser amount. NOTE: The
first support area becomes the resistance
after the market trades through the second
support area listed. The first resistance
area becomes the support after the market trades
through the second resistance area
listed.
Resistance: For
the Dec. contract -
1070.20 day top also 1071.50 and 1072 peaks (major
area) / 1073.30 peak and 1074 day top also
1074.10 major weekly upper channel and 1074.90 monthly
upper channel (major area) / 1076.80
major monthly and weekly upper channels also 1077.20
monthly closing price (major area) / 1079
day top and 1080.90 weekly upper channel (major
area) / 1084.60 minor monthly upper channel (very
major area) / 1089 weekly top for the
Dec. contract (major) / 1094 monthly
closing price for the Dec. contract also 1096 day top (very
major area) / 1107.90 monthly top (very
major area).
Support: For
the Dec. contract -
1066.40 and 1065.40 day channels (major area)
/ 1063.80 GBX channel and 1062.80 day bottom also
1061.50 day bottom (very
major area) / 1057.80 weekly closing
gap and 1055.80 GBX weekly bottom (major area)
/ 1053.80 GBX bottom (significant) / 1050.20
minor day channel and 1049.40 day session closing
price also 1047.20 day bottom (major area)
/ 1043.90 major long-term day channel and 1043.70
monthly channel (very
major area) / 1041.90 major long-term
weekly channel and 1041.20 weekly channel also 1040.30
weekly bottom and 1040.20 weekly channel (very
major area) / 1037.30 day channel and
1036.30 weekly closing gap also 1035.30 GBX weekly
bottom (very major area) /
1030.40 weekly bottom and 1029.90 monthly channel (very
major area) / 1027.30 weekly bottom (major)
/ 1025.10 major monthly channel and 1024.30 weekly
channel (very major
area) / 1021.30 weekly channel (major
area) / 1016.50 weekly bottom (very
major area).
Comments:
Thursday's trading session remained
inside the neutral area but managed to close above the
last three day session closing prices, removing the
bearishness, leaving the chart neutral inside a narrow
trading range between 1071.50 and 1063.80. The
whiplashing action this week leaves uncertainty in the
direction but as long as the market holds above the
support levels, having the trend still to the upside,
then higher prices can materialize. Also, a
close on Friday above 1060 will keep the weekly chart
in bullish condition for next week, below 1060 will be
defensive for possible retracements to the down side.
At this time, only a trade below 1049 - 1047.20 area
can bring any sign of bearishness back to the chart.
Remain defensive inside the 1071.50 - 1063.80 narrow
neutral trading area until a solid direction can be
established.
Day
trades: For The Dec. contract -
Aggressive traders can buy dips near
1065.50 - 1063.80 area or sell rallies near 1068.50 -
1071.50 area, whichever side comes first, to complete
the trade. (Use a sell stop and rev. short at
1061). (Use a buy stop and rev. long at
1077.80). (Conservative traders can use a buy
stop at 1073.50. Do not rev. long).
Sell stop at 1061 for obj. near
1057.80 gap and possibly near 1055.80 area.
Sell stop at 1052.80 for obj. near
1050.80 - 1049.40 area and possibly near 1047.20
bottom area.
Sell stop at 1046 for obj. near 1044
- 1043.70 area and possibly near 1041.90 area.
Sell stop at 1039.90 for obj. near
1037.50 - 1036.30 gap area.
Buy stop at 1077.80 for obj. near
1079.80 - 1080.90 area.
Buy stop at 1082.30 for obj. near
1084.30 - 1084.80 area and possibly near 1087.
|
*
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 12/05/03 (10:28 am est)
Long positions were taken on
the opening at 1064. The rally up to 1067.30 is near enough to the
1068.50 obj. and completes the trade.
Bulletin
- Originally sent 12/05/03 (10:53 am est)
Short positions were taken
at 1067.30. The sell-off down to 1065.30 is near enough to the
1065 obj. and completes the trade.
Bulletin
- Originally sent 12/05/03 (11:29 am est)
The sell-off down to the low
end of the buy area put traders long again at 1063.80. The rally up
to 1067 is near enough to the obj. and completes the trade.
Bulletin
- Originally sent 12/05/03 (12:18 pm est)
The rally up to 1068.50 put
traders into short positions. The sell-off down to 1064 meets the
obj. and completes the trade.
Bulletin
- Originally sent 12/05/03 (1:39 pm est)
The sell stop at 1061 was hit,
putting traders into short positions. The market is still showing
signs of support technically at this time. It is recommended for
traders to exit the short position at the market, which is trading at
1061.70 and scratch the trade.
Traders can use a sell stop to
enter short positions at 1059.70 for an obj. near 1057.80 gap and possibly
near 1055.80.
Bulletin
- Originally sent 12/05/03 (2:30 pm est)
The sell stop at 1059.70 was
hit, putting traders into short positions. Since there is still a
possibility for the market to close Friday's day session above the 1060
area, leaves this trade defensive at this time.
It is recommended for traders
to exit the short position at the market, which is trading at 1060 at this
time, and cut losses. NOTE: We will not be
using sell stops in this trading area. The next sell stop remains at
1052.80.
Results:
12/05/03
| Bought @ 1064 |
Sold @ 1067 |
= + $
750.00 |
| Sold @ 1067.30 |
Bought @
1065.30 |
= +
$ 500.00 |
| Bought @
1063.80 |
Sold @ 1067 |
= +
$ 800.00 |
| Sold @ 1068.50 |
Bought @
1064.40 |
= + $1,000.00 |
| Sold
@ 1061 |
Bought @
1061.50 |
= -
$ 125.00 |
| Sold @ 1059.70 |
Bought @ 1060 |
= -
$ 75.00 |
| TOTAL (P &
L) |
|
+ $2,850.00 |