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 Th