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Archived S & P Daily Reports

THERE IS RISK OF LOSS IN ALL TRADING. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. ALL RESULTS ARE HYPOTHETICAL. THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.

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The week in review - 12/15/03 - 12/19/03
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 12-15-03 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the March contract -
1073.10 newly developed long-term day channel and 1073.30 newly developed major weekly channel also 1073.50 weekly top and 1073.70 minor daily upper channel also 1074.90 monthly upper channel (major area) / 1076.60 major daily upper channel and 1076.80 major monthly upper channel (very major area) / 1078.50 weekly top in the March contract and 1079 long-term major weekly upper channel (very major area) / 1082.80 weekly upper channel and 1084.60 monthly upper channel (major area) / 1088.50 weekly top on the March contract and 1089.60 major weekly upper channel (very major area) / 1093 and 1094 rev. base (major area) / 1102.50 weekly top and 1105.20 weekly closing price (very major area) / 1106.70 GBX weekly top and 1107.90 monthly top also 1109.10 GBX weekly top (very major area) / 1119 day top in the March (major) / 1122 weekly top (major) / 1126 March weekly top and 1126.70 weekly chart's closing gap also 1128 GBX weekly top (very major area). 
 
Support:  For the March contract -
1072.50 and 1071.90 minor day channels also 1071.70 base (major area) / 1069.70 base and 1069.30 intra-day channel also 1068 base (major area) / 1067.10 and 1066.50 base also 1065.50 day bottom (major area) / 1061.80 and 1059.80 minor weekly channels also 1057.10 day channel (major area) / 1055.30 long-term major weekly channel and 1054.80 minor day channel also 1054.60 weekly channel without GBX prices and 1053 weekly channel with GBX prices also 1053 monthly channel (very major area) / 1051.80 weekly bottom and 1050.70 long-term major day channel also 1050 minor weekly channel (very major area) / 1047.90 monthly channel without GBX prices and 1046.90 major day channel also 1046 weekly bottom (very major area) / 1044.30 minor weekly channel and 1043.80 monthly channel with GBX prices (major area) / 1039.40 day channel and 1039 weekly bottom (major area) / 1036.10 monthly channel without GBX prices and 1034.80 weekly closing gap (major area) / 1030.40 weekly bottom on the weekly chart and 1029.90 monthly channel with GBX prices also 1029 March contract's weekly bottom and 1028.70 long-term day channel also 1028.60 long-term weekly channel (very major area) / 1027.30 weekly chart's bottom and 1026 March contract's bottom (major area). 
 
Comments:  
    The market closed on Friday at it's highest weekly closing price in 79 weeks leaving the chart in bullish condition with the possibility of having the potential to reach up near the major long-term 50% retracement area at 1153 - 1170.50 area before this uptrend is over.  The market faces major resistance at 1088.50 and 1089.60 area, which was hit in the GBX session last night.  A trade above 1089.60 will be considered a breakout for higher prices to follow.  A trade below 1069.30 and 1065.50 today is slightly bearish but only a trade below 1057.10 - 1053 area can bring any solid bearishness back to the chart.  Remain defensive inside the wide trading area between 1089.60 and 1053.  Whiplashing to both sides are still possible.
       
Day trades:  For The March contract -
 
Aggressive traders can sell rallies near 1082.80 - 1089.60 area for obj. near 1077.20 - 1073 area.  (Use a buy stop and rev. long at 1095.70).
 
Aggressive traders can buy dips near 1062.20 - 1057.10 area for obj. near 1066 - 1068 area.  (Use a protective sell stop at 1055.90.  Do not rev. short).
 
Buy stop at 1095.70 for obj. near 1098 - 1102 area.
Buy stop at 1112 for obj. near 1117 - 1122 area.
 
Sell stop at 1071 for obj. near 1069.50 - 1067 area.
Sell stop at 1064.50 for obj. near 1062.20 - 1061.80 area and possibly near 1059.80 - 1057.10 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 12/15/03 (9:47 am est) 

Short positions were taken on the opening at 1083.50.  The sell off down to 1079.50 should be considered near enough to the 1077.20 obj. where traders should consider taking profits and now completes the trade.

Results:    12/15/03

Sold @ 1083.50 Bought @ 1079.50 = + $1,000.00             
Sold @ 1071 Bought @ 1069.50 = + $   375.00             
TOTAL (P & L)    + $1,375.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 12-16-03 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the March contract -
1068.20 peak (significant) / 1071 and 1072.30 peaks also 1072.60 weekly closing price (major area) / 1073.80 and 1074 intra-day channels also 1076.50 peak (very major area) / 1078.50 and 1079 peaks also 1079.50 and 1079.80 peaks (major area) / 1083.50 day top and 1084.60 monthly upper channel (major area) / 1088.50 weekly top on the March contract and 1088.90 GBX top also 1089.60 major weekly upper channel (very major area) / 1093 and 1094 rev. base (major area) / 1102.50 weekly top and 1105.20 weekly closing price (very major area) / 1106.70 GBX weekly top and 1107.90 monthly top also 1109.10 GBX weekly top (very major area) / 1119 day top in the March (major) / 1122 weekly top (major) / 1126 March weekly top and 1126.70 weekly chart's closing gap also 1128 GBX weekly top (very major area). 
 
Support:  For the March contract -
1065.50 day bottom and 1064 base (major area) / 1061.80 and 1059.80 minor weekly channels also 1058.80 day channel (major area) / 1056.10 minor day channel and 1055.30 long-term major weekly channel also 1054.60 weekly channel without GBX prices and 1053 weekly channel with GBX prices also 1053 monthly channel (very major area) / 1052.10 long-term major day channel and 1051.80 weekly bottom also 1050 minor weekly channel (very major area) / 1048 major day channel and 1047.90 monthly channel without GBX prices also 1046 weekly bottom (very major area) / 1044.30 minor weekly channel and 1043.80 monthly channel with GBX prices (major area) / 1040 day channel and 1039 weekly bottom (major area) / 1036.10 monthly channel without GBX prices and 1034.80 weekly closing gap (major area) / 1030.40 weekly bottom on the weekly chart and 1029.90 monthly channel with GBX prices also 1029.50 long-term day channel and 1029 March contract's weekly bottom and 1028.60 long-term weekly channel (very major area) / 1027.30 weekly chart's bottom and 1026 March contract's bottom (major area).
 
Comments:  
    The sell-off on Monday from the major resistance proved the significance of the area but managed to hold above the major support at 1061.80 - 1058.80 leaving the chart neutral again inside a wide trading area between 1088.50 - 1058.80 area.  A trade below 1061.80 - 1058.80 support area is slightly bearish but only a trade below 1055.30 - 1050 can bring any solid bearishness back to the chart.  A trade above 1073.80 - 1074 area is slightly bullish but only a trade above 1089.60 will be considered a breakout for higher prices to follow.  Remain defensive inside the first neutral range between 1073.80 and 1061.80.
           
Day trades:  For The March contract -
 
Aggressive traders can sell rallies near 1071 - 1073 area and if possible near 1074 for obj. ner 1066 - 1064 area.  (Use a buy stop and rev. long at 1075).
 
Aggressive traders can buy dips near 1061.80 - 1058.80 area and if possible near 1055.30 for obj. near 1064 - 1066 area.  (Use a sell stop and rev. short at 1055).
 
Buy stop at 1075 for obj. near 1077 - 1079 area.
 
Sell stop at 1055 for obj. near 1053 - 1050 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 12/16/03 (10:27 am est)  

Short positions were taken on the rally at the opening at 1070 the sell-off down to 1067.10 was near enough to the 10066 obj. and completes the trade. 

The rally up to 1071 put traders into short positions again the sell-off down to 1068.70 should be considered an area to exit and take profits again.  

Bulletin - Originally sent 12/16/03 (2:58 pm est)  

The rally up to the high end of the resistance area at 1073.50 put traders into short positions again.  The obj. is now near 1070.50 - 1069.50 area.  (Continue to use the buy stop and rev. long at 1075).

Results:    12/16/03

Sold @ 1070 Bought @ 1067.30 = + $   675.00             
Sold @ 1071 Bought @ 1068.70 = + $   575.00     bought as per bulletin
Sold @ 1073.50 Bought @ 1072.80 = + $   175.00             
TOTAL (P & L)    + $1,425.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 12-17-03 :  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 March contract -
1074.30 intra-day channel and 1074.70 day top (major area) / 1076.10 and 1076.50 peaks also 1077.20 peaks (major area) / 1078.50 and 1079 peaks also 1079.50 and 1079.80 peaks (major area) / 1081.30 peak and 1082.80 long-term major day channel without GBX prices (very major area) / 1083.50 day top and 1084.60 monthly upper channel (major area) / 1088.50 weekly top on the March contract and 1088.90 GBX top also 1089.60 major weekly upper channel (very major area) / 1093 and 1094 rev. base (major area) / 1102.50 weekly top and 1105.20 weekly closing price (very major area) / 1106.70 GBX weekly top and 1107.90 monthly top also 1109.10 GBX weekly top (very major area) / 1119 day top in the March (major) / 1122 weekly top (major) / 1126 March weekly top and 1126.70 weekly chart's closing gap also 1128 GBX weekly top (very major area). 
 
Support:  For the March contract -
1072.70 intra-day channel and 1072.40 base (major area) / 1071.60 intra-day channel and base also 1070.40 day channel without GBX prices and 1069 day channel with GBX prices (very major area) / 1067.90 minor day channel and 1066.70 day bottom also 1065.60 GBX bottom (major area) / 1061.80 and 1059.80 minor weekly channels also 1060.60 day channel (major area) / 1057.10 minor day channel and 1055.30 long-term major weekly channel also 1054.70 minor day channel and 1054.60 weekly channel without GBX prices (very major area) / 1053 weekly channel with GBX prices and 1053 monthly channel also 1053.40 long-term major day channel and 1051.80 weekly bottom (very major area) / 1050 minor weekly channel and 1049.10 major day channel and 1047.90 monthly channel with GBX prices (very major area) / 1046 weekly bottom and 1044.30 minor weekly channel and 1043.80 monthly channel with GBX prices (major area) / 1040.70 day channel and 1039 weekly bottom (major area) / 1036.10 monthly channel without GBX prices and 1034.80 weekly closing gap (major area) / 1030.40 weekly bottom on the weekly chart and 1030.30 long-term day channel also 1029.90 monthly channel with GBX prices and 1029 March contract's weekly bottom also 1028.60 long-term weekly channel (very major area).
 
Comments:
    The recovery rally on Tuesday from the neutral condition, managed to close at the highest settling price, leaving the chart in neutral to bullish condition.  As long as the market can hold prices above the 1069 - 1067.90 area then higher prices should materialize.  A trade above 1089.60 will confirm higher prices to follow.  At this time, only a trade below 1055.30 - 1053 area can bring any solid bearishness back to the chart.  Remain defensive inside the first neutral area between 1077.20 and 1069.  Whiplashing can still materialize before and solid direction develops.  
               
Day trades:  For The March contract -
 
Aggressive traders can buy dips near 1072 - 1069 area for obj. near 1074.30 - 1074.70 area and possibly near 1076.50.  (Use a sell stop and rev. short at 1064).
 
Aggressive traders can sell rallies near 1076.50 - 1077 area for obj. near 1074.70 - 1074.30 area.  (Use a buy stop and rev. long at 1077.50
 
Sell stop at 1064 for obj. near 1062 - 1059.80 area.
Sell stop at 1059 for obj. near 1057 - 1055.30 area.
Sell stop at 1052 for obj. near 1050 - 1048 area.
 
Buy stop at 1077.50 for obj. near 1078.50 - 1079.50 area.
Buy stop at 1080 for obj. near 1082 - 1082.80 area.
Buy stop at 1085.80 for obj. near 1088 - 1089.60 area.
 

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

Bulletin - Originally sent 12/17/03 (11:10 am est)   

Long positions were taken at 1070.50.  The rally up to 1073.30 is near enough to the 1074.30 obj. and completes the trade.

Results:    12/17/03

Bought @ 1070.50 Sold @ 1073.30 = + $   700.00             
Bought @ 1070.50 Sold @ 1074.30 = + $   950.00     
Sold @ 1076.50 Bought @ 1076.30 = + $    50.00             
TOTAL (P & L)    + $1,700.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 12-18-03 :  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 March contract -
1077.20 peak (major) / 1078.50 and 1079 peaks also 1079.50 and 1079.80 peaks (major area) / 1081.30 peak and 1082.50 long-term major day channel without GBX prices (very major area) / 1083.50 day top and 1084.60 monthly upper channel (major area) / 1087.90 long-term major day channel with GBX prices also 1088.50 weekly top and 1088.90 GBX top also 1089.60 major weekly upper channel (very major area) / 1093 and 1094 rev. base (major area) / 1102.50 weekly top and 1105.20 weekly closing price (very major area) / 1106.70 GBX weekly top and 1107.90 monthly top also 1109.10 GBX weekly top (very major area) / 1119 day top in the March (major) / 1122 weekly top (major) / 1126 March weekly top and 1126.70 weekly chart's closing gap also 1128 GBX weekly top (very major area). 
 
Support:  For the March contract -
1072.50 day channel and 1071.60 intra-day channel (major area) / 1070.30 minor day channel and 1069.30 day bottom (very major area) / 1066.70 day bottom and 1065.60 GBX bottom (major area) / 1062.30 day channel and 1061.80 and 1059.80 minor weekly channels (very major area) / 1058.50 day bottom and 1058.20 minor day channel (major area) / 1055.30 long-term major weekly channel and 1054.80 long-term major day channel (very major area) / 1053 monthly channel and 1051.80 weekly bottom (major area) / 1050 minor weekly channel and 1049.10 major day channel also 1047.90 monthly channel with GBX prices (very major area) / 1046 weekly bottom and 1044.30 minor weekly channel also 1043.80 monthly channel with GBX prices (major area) / 1041.30 day channel and 1039 weekly bottom (major area) / 1036.10 monthly channel without GBX prices and 1034.80 weekly closing gap (major area) / 1031.10 long-term day channel and 1030.40 weekly bottom also 1029.90 monthly channel and 1029 March contract's weekly bottom (very major area).
 
Comments:
    The follow through rally on Wednesday remained inside the neutral area, but managed to closed up on the day leaving the chart neutral to bullish again.  A trade today above 1079.80 is slightly bullish but a trade above 1082.50 can bring prices up to challenge the 1089.60 resistance.  A trade above 1089.60 will be considered a breakout for higher prices to follow.  A trade below 1070.30 - 1069.30 area is slightly bearish but only a trade below 1061.80 and 1055.30 areas can bring any solid bearishness back to the chart.  Remain defensive inside the first neutral trading range between 1079.80 and 1072.50 areas and also the wider second neutral trading range between 1082.50 and 1061.80.
                   
Day trades:  For The March contract -
 
Aggressive traders can buy dips near 1072.50 - 1071.60 area and if possible near 1070.30 or sell rallies near 1077 - 1079.80 area, whichever side comes first, to complete the trade.  (Use a sell stop and rev. short at 1068).  (Use a buy stop and rev. long at 1080.30).
 
Buy stop at 1080.30 for obj. near 1082.
Buy stop at 1083.70 for obj. near 1086 - 1088 area and possibly near 1089.60.
 
Sell stop at 1068 for obj. near 1063.50 - 1061.80 area.
Sell stop at 1058 for obj. near 1056 - 1055.30.
 

* 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 12/18/03 (10:23 am est)    

The buy stop was hit at 1080.30, putting traders into long positions.  The rally up to 1081.70 is near enough to the 1082 obj. and completes the trade. 

Aggressive traders can sell at the market, which is trading at 1080.50 for an obj. near 1075 - 1072.50 area.  (Use a buy stop and rev. long at 1083.70).

Bulletin - Originally sent 12/18/03 (2:06 pm est)     

The Buy stop was hit at 1083.70 putting traders into long positions.  The failure to follow through with higher prices and now making a double top at this area is showing signs of resistance. 

It is recommended to exit long positions at the market, which is trading at 1083.20 at this time, and scratch the trade. 

Results:    12/18/03

Sold @ 1077 Bought @ 1080.30 = -  $   825.00             
Bought @ 1080.30 Sold @ 1081.70 = + $   350.00
Sold @ 1080.50 Bought @ 1083.70 = -  $   800.00     sold as per bulletin     
Bought @ 1083.70 Sold @ 1083.20 = -  $   125.00     sold as per bulletin             
TOTAL (P & L)    -  $1,400.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 12-19-03 :  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 March contract -
1088.80 day top and 1088.90 GBX top also 1089.60 major weekly upper channel (very major area) / 1093 and 1094 rev. base (major area) / 1102.50 weekly top and 1105.20 weekly closing price (very major area) / 1106.70 GBX weekly top and 1107.90 monthly top also 1109.10 GBX weekly top (very major area) / 1112 daily upper channel (major) /  1119 day top in the March (major) / 1122 weekly top (major) / 1126 March weekly top and 1126.70 weekly chart's closing gap also 1128 GBX weekly top (very major area). 
 
Support:  For the March contract -
1087.10 base and 1087 intra-day channel also 1086.30 base and intra-day channel (major area) / 1084.80 intra-day channel (major) / 1082.60 intra-day channel and base also 1081.30 minor day channel and 1080.50 and 1080.30 base area (major area) / 1077.30 minor day channel and 1075.90 day channel also 1075.30 day bottom (major area) / 1072.70 minor day channel and 1072.60 weekly closing price (very major area) / 1069.30 day bottom (major) / 1066.70 day bottom and 1065.60 GBX bottom also 1064.10 day channel (very major area) / 1061.80 and 1059.80 minor weekly channels also 1059.30 minor day channel (very major area) / 1056.10 long-term major day channel and 1055.90 minor day channel also 1055.30 long-term major weekly channel (very major area) / 1053 monthly channel and 1051.80 weekly bottom also 1051.40 major day channel also 1050 minor weekly channel (very major area).
 
Comments:
    The follow-through rally again on Thursday brought prices up to the very major resistance area at 1089.60.  A trade above 1089.60 will be considered a breakout for higher prices, otherwise this area will stimulate selling pressure for retracements to the downside.  A trade today below the 1081.30 and 1075.90 day channels are bearish but only a trade below 1064 - 1061.80 area can bring any solid bearishness back to the chart.  Remain defensive inside the first trading area between 1089.60 and 1081.30 area.
                       
Day trades:  For The March contract -
 
Aggressive traders can sell rallies near 1088.50 - 1089.60 and if possible near 1092 for obj. near 1083 - 1081.30 area.  (Use a buy stop and rev. long at 1095.70).
 
Aggressive traders can buy dips near 1083 - 1081.30 area and if possible near 1077.30 for obj. near 1086 - 1087 area.  (Use a sell stop and rev. short at 1074.70).
 
Buy stop at 1095.70 for obj. near 1098 - 1101 area.
 
Sell stop at 1074.70 for obj. near 1072.70 - 1071 area.
Sell stop at 1068 for obj. near 1065 - 1064 area and possibly near 1061.80.
 

* 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 12/19/03 (9:52 am est)     

Short positions were taken on the open at 1089.50.  The sell-off down to 1086 seem worthy of taking profits and complete the trade.  This trade is now complete at 1086.50

Bulletin - Originally sent 12/19/03 (12:03 pm est)     

The sell-off down to 1083.80 is near enough to the 1083 buy area putting traders into long positions.  The rally up to 1087 meets the obj. and completes the trade.

Bulletin - Originally sent 12/19/03 (3:14 pm est)     

The sell-off down to 1082.50 put traders into long positions again.  The rally up to 1087 meets the obj. and completes the trade.

Results:    12/19/03

Sold @ 1089.50 Bought @ 1086.50 = + $   750.00             
Sold @ 1089.50 Bought @ 1083.80 = + $1,425.00
Bought @ 1083.80 Sold @ 1087 = + $   800.00     
Bought @ 1082.50 Sold @ 1087 = + $1,125.00             
TOTAL (P & L)    + $4,100.00
The week in review - 12/22/03 - 12/24/03
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 12-22-03 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the March contract -
1087.30 newly developed long-term weekly channel and intra-day channel and 1087.80 peak also 1089.90 weekly top (major area) / 1093.10 long-term daily upper channel also 1093.80 and 1094.20 weekly upper channels (very major area) / 1102.50 weekly top and 1105.20 weekly closing price (major area) / 1106.70 GBX weekly top and 1107.90 monthly top also 1109.10 GBX weekly top (very major area) / 1115.70 minor weekly upper channel (very major area) / 1119 day top in the March contract (major) / 1122 weekly top (major) / 1126 March contract's weekly top and 1126.70 weekly chart's closing gap also 1128 GBX weekly top (very major area) / 1137.50 and 1139 day tops also 1142.50 weekly top (major area) / 1149.20 monthly closing price and 1149.90 monthly top also 1153.70, which is the long-term major 50% retracement area (very major area).
 
Support:  For the March contract -
1083.80 intra-day channel and base also 1082.20 day bottom (major area) / 1080.50 base and 1080.40 minor day channel also 1079.40 day channel and 1078.50 intra-day channel also 1078.20 minor weekly channel (very major area) / 1075.30 day bottom and 1075.10 day channel (major area) / 1070.70 weekly channel with GBX prices and 1069.30 day bottom (very major area) / 1066.70 day bottom and 1065.80 major day channel also 1065.70 minor weekly channel without GBX prices and 1065.60 GBX weekly bottom (very major area) / 1061.90 long-term major weekly channel and 1061.70 base also 1060.70 weekly channel and 1060.30 day channel (very major area) / 1058.90 weekly channel and 1057.50 long-term major day channel (very major area) / 1054.90 minor weekly channel (major) / 1053 monthly channel also 1052.50 major day channel and 1051.80 weekly bottom (very major area) / 1048.40 minor weekly channel and 1047.90 monthly channel also 1046 day bottom (very major area) / 1043.80 monthly channel and 1042.60 day channel (major area).
 
Comments:
    The sell-off on Friday from the major resistance proved the significance of the area but the weekly closing price was up for the fourth week in a row, and also at its highest level in 80 weeks, leaving the chart in bullish condition, still having the possibility of reaching up near the major 50% retracement at 1153.70.  A trade above the 1089.90 top is bullish but a trade above 1093.10 - 1094.20 area will be considered a breakout for higher prices.  A trade below 1080.40 - 1078.20 area is slightly bearish but only a trade below 1070.70 and 1065.60 can bring any solid bearishness back to the chart.  Remain defensive today inside the first trading area between the 1089.90 - 1093.80 resistance area and the 1080.40 - 1078.20 support area.
                           
Day trades:  For The March contract -
 
Aggressive traders can buy dips near 1081 - 1078.20 area for obj. near 1086 - 1088 and possibly near 1090.  (Use a sell stop and rev. short at 1073.70).
 
Aggressive traders can sell rallies near 1092.50 - 1093.80 area for obj. near 1088 - 1086 area.  (Use a buy stop and rev. long at 1097.30).
 
Sell stop at 1073.70 for obj. near 1071.50 - 1070.70 area.
Sell stop at 1068 for obj. near 1066.50 - 1065.80 area.
Sell stop at 1064.50 for obj. near 1062.50 - 1061.90 area.
 
Buy stop at 1097.30 for obj. near 1100 - 1102.50 area.
Buy stop at 1103.50 for obj. near 1105 - 1106.70 area.
Buy stop at 1111 for obj. near 1114 - 1115.70 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.

Results:    12/22/03

Sold @ 1090.50 Bought @ 1087 = + $   875.00             
TOTAL (P & L)    + $   875.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 12-23-03 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the March contract -
1093 day top and 1093.80 weekly upper channel also 1093.90 long-term daily upper channel and 1094.20 minor weekly upper channel (very major area) / 1102.50 weekly top and 1105.20 weekly closing price (major area) / 1106.70 GBX weekly top and 1107.90 monthly top also 1109.10 GBX weekly top (very major area) / 1115.70 minor weekly upper channel (very major area) / 1119 day top in the March contract (major) / 1122 weekly top (major) / 1126 March contract's weekly top and 1126.70 weekly chart's closing gap also 1128 GBX weekly top (very major area) / 1137.50 and 1139 day tops also 1142.50 weekly top (major area) / 1149.20 monthly closing price and 1149.90 monthly top also 1153.70, which is the long-term major 50% retracement area (very major area).
 
Support:  For the March contract -
1092.30 intra-day channel and 1092.10 base (major area) / 1090.50 intra-day channel and rev. peak also 1089.60 day channel (major area) / 1088.50 base and 1087.50 intra-day channel also 1086.80 base (major area) / 1086 and 1085.30 base area and 1084.50 day bottom also 1084.10 minor day channel and 1082.90 day channels (very major area) / 1080.50 GBX bottom (major) / 1078.20 minor weekly channel also 1077.40 day channel and 1075.30 day bottom (major area) / 1070.70 weekly channel with GBX prices and 1069.30 day bottom (very major area) / 1067.60 major day channel and 1066.70 day bottom also 1065.60 GBX weekly bottom (very major area) / 1061.90 long-term major weekly channel and 1061.40 day channel also 1060.70 weekly channel (very major area) / 1058.90 long-term major day channel and 1058.90 weekly channel also 1057 minor day channel (very major area) / 1054.90 minor weekly channel and 1053.60 major day channel also 1053 monthly channel (very major area).
 
Comments:
    The rally on Monday brought prices up to the very major resistance area that can prove to be significant enough to stimulate some selling pressure.  A trade above 1093.80 - 1094.20 will be considered a breakout for higher prices to follow.  A trade today below 1085.30 - 1082.90 area is slightly bearish but only a trade below 1067.60 - 1061.40 area can bring any solid bearishness back to the chart.  Remain defensive inside the first trading area between the 1093.80 - 1094.20 resistance area and the 1084.10 - 1082.90 support area.
                               
Day trades:  For The March contract -
 
Aggressive traders can sell rallies near 1092 - 1094 area or buy dips near 1086 - 1082.90 area, whichever side comes first to complete the trade.  (Use a buy stop and rev. long at 1097.30).  (Use a sell stop and rev. short at 1081.90).
 
Buy stop at 1097.30 for obj. near 1101 - 1102.50 area.
Buy stop at 1103.50 for obj. near 1105 - 1106.70 area.
Buy stop at 1111 for obj. near 1114 - 1115.70 area.
 
Sell stop at 1081.90 for obj. near 1078.20 - 1077.40 area.
Sell stop at 1074.50 for obj. near 1072 - 1070.70 area.
Sell stop at 1064.90 for obj. near 1062.90 - 1061.90 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 12/23/03 (11:00 am est)     

 
Short positions were taken at 1093.  Since the market traded above the 1094.60 major resistance, it put bullish conditions into the chart and therefore, short positions should now exit and scratch the trade.
 
It is recommended for traders to exit the short position at the market, which is trading at 1093.60 at this time and scratch the trade.

Bulletin - Originally sent 12/23/03 (11:23 am est)     

 
The intra-day chart formation has formed a significant top, which can be a signal for possible retracements to the downside. 
 
Aggressive traders can re-enter the short position at the market, which is trading at 1093.70 at this time.  (Continue to use a buy stop and rev. long at 1097.30).  The obj. for this trade is near 1086 - 1082.50 area.

Bulletin - Originally sent 12/23/03 (1:17 pm est)     

 
The support has now increased on an intra-day scale from 1086, moving up to 1089.60. 
 
It is recommended for short positions to change their obj. and exit near the double bottom at 1090.30 - 1089.60 area.  (Continue to use a buy stop and rev. long at 1097.30).

Bulletin - Originally sent 12/23/03 (2:44 pm est)     

 
Short positions were taken at 1093.60 as per previous bulletin.  The sell down to 1090.80 is near enough to the 1090.30 obj. and completes the trade. 

Results:    12/23/03

Sold @ 1093 Bought @ 1093.60 = -  $   150.00             
Sold @ 1093.60 Bought @ 1090.80 = + $   700.00     sold as per bulletin             
TOTAL (P & L)    + $   550.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 12-24-03 :  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 March contract -
1094.50 intra-day channel and 1094.70 peak also 1095 peak and 1095.70 day top also 1096.20 weekly upper channel (very major area) / 1102.50 weekly top and 1105.20 weekly closing price (major area) / 1106.70 GBX weekly top and 1107.90 monthly top also 1109.10 GBX weekly top (very major area) / 1115.70 minor weekly upper channel (very major area) / 1119 day top in the March contract (major) / 1122 weekly top (major) / 1126 March contract's weekly top and 1126.70 weekly chart's closing gap also 1128 GBX weekly top (very major area) / 1137.50 and 1139 day tops also 1142.50 weekly top (major area) / 1149.20 monthly closing price and 1149.90 monthly top also 1153.70, which is the long-term major 50% retracement area (very major area).
 
Support:  For the March contract -
1091.80 and 1091.30 intra-day channels and 1090.20 day bottom (major area) / 1087.70 day channel with GBX prices and 1086.30 day channel (very major area) / 1085.40 weekly closing price and 1084.50 day bottom (major area) / 1080.50 GBX bottom and 1079.80 minor day channel with GBX prices also 1078.20 minor weekly channel (major area) / 1075.30 day bottom (major) / 1070.70 weekly channel and 1069.30 major day channel also 1069.30 day bottom (very major area) / 1066.70 day bottom also 1065.60 GBX weekly bottom (major area) / 1062.50 day channel and 1061.90 long-term major weekly channel also 1060.70 weekly channel and 1060.20 long-term major day channel (very major area) / 1058.90 weekly channel and 1058.50 day bottom also 1057.60 minor day channel (major area) / 1054.90 minor weekly channel and 1054.70 major day channel also 1053 monthly channel (very major area).
 
Comments:
    Tuesday's day session remained inside the first trading area leaving the chart neutral inside the 1096.20 - 1086.30 trading area.  A trade above 1096.20 will be considered a breakout for higher prices to follow.  A trade today below the 1087.70 - 1086.30 area is slightly bearish but only a trade below the 1070.70 - 1069.30 area can bring any solid bearishness back to the chart.  Remain defensive inside the first trading area between 1096.20 - 1086.30.  The market is still subject to swings either way.
                                   
Day trades:  For The March contract -
 
Aggressive traders can buy dips near 1088.50 - 1086.20 area for obj. near 1092 - 1094 area.  (Use a sell stop and rev. short at 1083.90).
 
Aggressive traders can sell rallies near 1094 - 1096 area for obj. near 1090.50 - 1088.50 area.  (Use a buy stop and rev. long at 1098.20).
 
Buy stop at 1099.20 for obj. near 1001.90 - 1002.50 area.
Buy stop at 1003.50 for obj. near 1005 - 1006.70 area.
Buy stop at 1111 for obj. near 1114 - 1115.70 area.
 
Sell stop at 1083.90 for obj. near 1081 - 1078.20 area.
Sell stop at 1077 for obj. near 1073 - 1070.70 area and possibly near 1069.30.
Sell stop at 1064.90 for obj. near 1063 - 1062.50 area and possibly near 1061.90.
 

* 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 12/24/03 (10:17 am est)     

 
The rally up to 1093.20 is near enough to the 1094 selling area putting traders into short positions.

Results:    12/24/03

Sold @ 1093.20 Bought @ 1091.50 = + $   425.00             
Sold @ 1095 Bought @ 1091.50 = + $   875.00                  
TOTAL (P & L)    + $1,300.00
The week in review - 12/29/03 - 12/31/03
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 12-29-03 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the March contract -
1094.40 newly developed long-term major day channel also 1094.50 intra-day channel and 1095 peak also 1095.50 intra-day gap (very major area) / 1096.60 peak and 1097 weekly top (major) / 1102.50 weekly top and 1103.30 newly developed minor weekly channel (major area) / 1105.20 weekly closing price and 1106.70 GBX weekly top also 1107.40 minor weekly upper channel and 1107.90 monthly top (very major area) / 1109.70 GBX weekly top (major) / 1119 day top in the March contract (major) / 1122 weekly top and 1123 weekly upper channel (major area) / 1125.40 monthly upper channel and 1126 March contract's weekly top also 1126.70 weekly chart's closing gap (very major area) / 1128 GBX weekly top and 1129.60 minor weekly upper channel (very major area) / 1137.50 and 1139 day tops (major area) / 1142 weekly top (major area) / 1149.20 monthly closing price and 1149.90 monthly top also 1153.70 monthly upper channel and 1153.70, which is the long-term major 50% retracement area (very major area).
 
Support:  For the March contract -
1092.50 day bottom also 1092.30 intra-day gap and intra day channel also 1091.50 base (major area) / 1090.80 weekly channel and 1090.80 day bottom also 1090.20 day bottom and 1089.90 GBX bottom (very major area) / 1086 minor day channel and 1085.30 base also 1084.50 day bottom (major area) / 1080.50 GBX bottom and 1079.50 weekly channel with GBX prices (very major area) / 1075.30 day bottom and 1074.60 major day channel also 1072.10 minor weekly channel (very major area) / 1069.30 day bottom and 1068.60 long-term major weekly channel (very major area) / 1066.70 weekly channel without GBX and 1065.60 GBX weekly bottom also 1064.80 weekly channel with GBX prices and 1064.30 long-term major day channel (very major area) / 1058.10 major day channel and 1056 monthly closing price also 1053 long-term major monthly channel (very major area).
 
Comments:
    Friday's trading range remained inside a range but managed to close the week up for the fifth week in a row and at it's highest weekly close in 81 weeks, leaving the chart in bullish condition and still having the possibility of reaching up near the major 50% retracement area at 1053.70.  A trade above 1095 - 1097 is bullish and a trade above 1102.50 - 1103.30 will bring prices up to challenge the 1107.90 - 1109.10 area.  A trade below 1090.80 is slightly bearish but a trade below 1086 - 1084.50 can bring prices down to challenge the 1080.50 - 1079.50 major support.  A trade below 1080.50 - 1079.50 is bearish but only a trade below 1064.80 can bring any solid bearishness back to the weekly chart.  Remain defensive inside the first trading range between the 1094.40 - 1097 resistance area and the 1092.30 - 1089.90 support area.
                                   
Day trades:  For The March contract -
 
Aggressive traders can buy dips near 1091 - 1089.90 area for obj. near 1094 - 1097 area.  (Use a sell stop and rev. short at 1088).
 
Aggressive traders can sell rallies near 1094 - 1097 for obj. near 1092.80 - 1090.30 area.  (Use a buy stop and rev. long at 1098.40).
 
Sell stop at 1088 for obj. near 1086 - 1085.50 area.
Sell stop at 1083.90 for obj. near 1080.90 - 1079.50 area.
Sell stop at 1078.70 for obj. near 1076 - 1074.50 area.
 
Buy stop at 1098.40 for obj. near 1102 - 1103.30 area.
Buy stop at 1104.30 for obj. near 1106 - 1107.40 area.
Buy stop at 1111 for obj. near 1115 - 1117 area and possibly near 1119.
 

* 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 12/29/03 (10:02 am est)     

 
The buy stop was hit at 1098.40, putting traders into long positions.  The rally up to 1099.80 is showing signs of resistance at this time.
 
It is recommended for traders to exit the long positions near 1099.80 and take profits and scratch the trade. 

Bulletin - Originally sent 12/29/03 (3:38 pm est)     

 
For the customers who are concerned being that the market opened above the 1094 - 1097 sell area  -      The sell trade was taken at 1097.30 at the opening, because it was still under the buy stop at 1098.40, and was completed with a 1.1 point loss.  After the buy stop was hit at 1098.40  the Tech Guru attempted to intervened to take profits at 1099.80, but by the time the e-mail was sent the market had rallied and met the obj. at 1101.70 completing the trade with a 3.3 point profit.
 
The buy stop at 1104.30 was hit putting traders into long positions.  The rally up to 1106 meets the obj. and completes the trade.
 
For today the completed trades are holding a net total profit for the day of 3.9 so far.  

Results:    12/29/03

Sold @ 1097.40 Bought @ 1098.40 = -  $   250.00             
Bought @ 1098.40 Sold @ 1101.70 = + $   825.00
Bought @ 1104.30 Sold @ 1106 = + $   425.00                  
TOTAL (P & L)    + $1,000.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 12-30-03 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the March contract -
1109 newly developed long-term day channel and 1109.30 day top (very major area) / 1113 daily upper channel with GBX prices (major area) / 1119 day top in the March contract (major) / 1122 weekly top and 1123 weekly upper channel (major area) / 1125.40 monthly upper channel and 1126 top for the March contract also 1126.70 weekly chart's closing gap (very major area) / 1128 GBX weekly top and 1129.60 minor weekly upper channel (very major area) / 1137.50 and 1139 day tops (major area) / 1142 weekly top (major area) / 1149.20 monthly closing price and 1149.90 monthly top also 1153.70 monthly upper channel and 1153.70, which is the long-term major 50% retracement area (very major area).
 
Support:  For the March contract -
1105.60 base and 1104.70 and 1104.30 intra-day channels also 1104.10 base (major area) / 1102.30 and 1101.50 base also 1100.70 day channel without GBX prices (major area) / 1097.20 day bottom and 1096 intra-day channel also 1095.50 GBX channel (very major area) / 1093.50 weekly closing gap and 1093 GBX bottom also 1092.50 day bottom (major area) / 1090.80 weekly channel and 1090.20 day bottom also 1089.90 GBX bottom and 1089.30 minor day channel (very major area) / 1085.30 base and 1084.50 day bottom (major area) / 1080.50 GBX bottom and 1079.50 weekly channel with GBX prices (very major area) / 1076.30 minor day channel and 1075.30 day bottom (major area) / 1072.10 minor weekly channel (very major area) / 1069.30 day bottom and 1068.60 long-term major weekly channel (very major area) / 1066.70 weekly channel and day channel also 1065.60 GBX weekly bottom and 1065.60 long-term major day channel (very major area) / 1059.20 major day channel (major area).
 
Comments:
    The gap and follow through rally on Monday brought prices up to a very major resistance at 1109.10 - 1109.30 area as mentioned in Monday's report.  A trade above 1109.30 and above 1113 channel can bring prices up to challenge the 1119 - 1123 area and possibly near 1129.60.  A trade above 1129.60 will be considered a breakout for prices to challenge up near the 1153.70 major 50% retracement area.  A trade today below 1095 - 1093 area is slightly bearish but only a trade below 1076.30 and 1072.10 areas can bring any solid bearishness back to the chart.  Remain defensive inside the first trading area between 1109 and 1104.70, and also inside the wider trading range between 1113 and 1095.30 area.
                                       
Day trades:  For The March contract -
 
Aggressive traders can buy dips near 1106 - 1104.70 area or sell rallies near 1108 - 1109.30 area, whichever side comes first, to complete the trade.  (Use a sell stop and rev. short at 1103.90).  (Use a buy stop and rev. long at 1110.20).
 
Sell stop at 1103.90 for obj. near 1102 and 1101.50 area and possibly near 1100.70 channel.
Sell stop at 1099.70 for obj. near 1097.70 - 1095.50 area.
Sell stop at 1087.80 for obj. near 1085 - 1084 area and possibly near 1082 - 1080.50 area.
 
Buy stop at 1110.20 for obj. near 1012.20 - 1113 area.
Buy stop at 1114.70 for obj. near 1117.70 - 1119 area and possibly near 1122.
Buy stop at 1132.60 for obj. near 1136 - 1137.50 and possibly near 1139.
 

* 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 12/30/03 (9:39 am est)     

 
Short positions were taken on the opening at 1107.70.  The sell off down to 1106.50 double bottom is near enough to the 1106 obj. and completes the trade.

Bulletin - Originally sent 12/30/03 (9:41 am est)     

 
Long positions were taken at the double bottom at 1106.50.  The rally up to 1107.70 double top is near enough to the 1108 obj. and completes the trade to the other side.

Bulletin - Originally sent 12/30/03 (10:07 am est)     

 
The rally up to 1108 put traders into short positions.  The sell-off down to 1106 meets the obj. and completes the trade.
 
NOTE:  This trade will not be repeated.

Bulletin - Originally sent 12/30/03 (10:32 am est)     

 
Long positions were taken at 1106.  The rally up to 1107.50 is near enough to the 1108 obj. and completes the trade.
 
NOTE:  This trade will not be repeated. 
 
NOTE:  Both sides of the first trade were taken twice and will not be repeated today.

Results:    12/30/03

Sold @ 1107.70 Bought @ 1106.50 = + $   300.00             
Bought @ 1106.50 Sold @ 1107.70 = + $   300.00
Sold @ 1108 Bought @ 1106 = + $   500.00
Bought @ 1106 Sold @ 1107.50 = + $   375.00                  
TOTAL (P & L)    + $1,475.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 12-31-03 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the March contract -
1108.20 intra-day channel and 1108.40 peak also 1108.50 minor day channel and 1108.90 day top also 1109.30 day top (major area) / 1115 daily upper channel (major area) / 1119 day top in the March contract (major) / 1122 weekly top and 1123 weekly upper channel (major area) / 1125.40 monthly upper channel and 1126 top for the March contract also 1126.70 weekly chart's closing gap (very major area) / 1128 GBX weekly top and 1129.60 minor weekly upper channel (very major area) / 1137.50 and 1139 day tops (major area) / 1142 weekly top (major area) / 1149.20 monthly closing price and 1149.90 monthly top also 1153.70 monthly upper channel and 1153.70, which is the long-term major 50% retracement area (very major area).
 
Support:  For the March contract -
1106.90 minor day channel and 1106.50 intra-day channel (major area) / 1105.80 base and 1105 day bottom also 1104.20 day channel (very major area) / 1099.30 and 1098 day channels also 1097.30 day bottom (very major area) / 1093.50 weekly closing price and 1093 GBX bottom also 1092.50 day bottom (major area) / 1091.60 minor day channel and 1090.80 weekly channel also 1090.20 day bottom (very major area) / 1089.90 GBX bottom (major) / 1085.30 base and 1084.50 day bottom (major area) / 1080.50 GBX bottom and 1079.50 weekly channel with GBX prices also 1078.10 major day channel (very major area) / 1075.30 day bottom (major) / 1072.60 weekly closing price and 1072.10 minor weekly channel (very major area) / 1069.30 day bottom and 1067 long-term major day channel (very major area).
 
Comments:
    Tuesday's session remained inside the first trading range as listed in yesterday's comments but developed enough of support to challenge the 1115 resistance.  A trade above the 1115 upper channel can bring prices up to challenge the 1119 - 1123 areas and possibly near the 1129.60 resistance.  A trade today below 1104.20 is slightly bearish but only a trade below 1191.60 - 1190.20 area can bring any solid bearishness back to the chart.  Remain defensive inside the 1115 - 1104.20 trading area.
                                           
Day trades:  For The March contract -
 
Aggressive traders can sell rallies near 1113 - 1115 area for obj. near 1110 - 1109.50 area.  (Use a buy stop and rev. long at 1116.50).
 
Aggressive traders can buy dips near 1107 - 1105 area for obj. near 1109 - 1109.50 area.  (Use a sell stop and rev. short at 1103).
 
Buy stop at 1116.50 for obj. near 1118.50 - 1119 area.
Buy stop at 1120 for obj. near 1122 - 1123 area.
 
Sell stop at 1103 for obj. near 1100.50 - 1099.30 area.
Sell stop at 1096 for obj. near 1093 - 1091.60 area.
 

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

Bulletin - Originally sent 12/31/03 (1:29 pm est)     

 
Long positions were taken at 1107.  Due to the neutral conditions that have developed over the entire trading day, it is recommended to exit near 1108 and take profits and scratch the trade.

Bulletin - Originally sent 12/31/03 (3:00 pm est)     

 
Long positions were taken at the low end of the buy area at 1105.  The rally up to 1107.50 is near enough to the obj. and completes the trade.

Results:    12/31/03

Bought @ 1107 Sold @ 1108 = + $   250.00             
Bought @ 1105 Sold @ 1107.50 = + $   625.00                  
TOTAL (P & L)    + $   875.00

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

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

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

 

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