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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 -
5/06/02 -
5/10/02
The Tech Guru's S & P Day
Trading Recommendations
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S
& P - For Monday 05-06-02 : NOTE: After
each support and resistance listed will designate a value - (very
major) holds the highest importance, then (major), (very significant),
and (significant) is the least of 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.
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:
1075 day channels also 1075.50 and 1076.50 intra-day channels (major
area) / 1077.30 and 1078.90 intra-day peaks (major
areas) / 1082 and 1082.50 day channels also 1083 day top (major
area) / 1084.60 day gap and 1085 GBX channel (major
area) / 1086 and 1087 minor channels
also 1088.50 GBX top and 1088.80 minor channel (very
major area) / 1091.80 weekly top (major)
/ 1097 day top (major) / 1103.30 closing price and
1103.50 minor channel / 1107.50 weekly channel
also 1109.50 day top and 1110 major day channel (very
major area) / 1112.50 day top
and 1113.30 GBX top also 1113.50 minor weekly channel (very
major area) / 1116 and 1120.50 minor channels (major
area).
Support:
1070.50 minor channel and 1069 bottom (major areas) /
1067 primary weekly channel / 1066.50 primary
day channel and 1065 day bottom (very
major area) / 1063.50 weekly bottom (major)
/ 1060.70 monthly close and 1060.50 weekly down
channel (very major area)
/ 1054.60 monthly and 1053.50 weekly bottom also
1053.20 GBX bottom (very major
area) / 1050.10 monthly close on the daily chart (very
major) / 1043.70 monthly close on the monthly chart and 1040
weekly down channel (very major) / 1036.50 day bottom
to 1028.50 day gap (major area).
Comments:
The market close on Friday practically unchanged
from the previous Friday's close leaving the chart in
neutral to bearish condition, between the 1086 and 1067 neutral area.
A trade above the 1086 - 1088.50 area can bring some bullishness to
the technical chart but only a trade above 1110 - 1113 area can bring
any solid bullishness back to the weekly chart. A trade below
1067 is bearish and a trade below 1060.50 will confirm the
downtrend intact for lower prices to follow. Remain bearish
until the market can prove otherwise.
Day trades: For
the June contract -
Aggressive traders can sell rallies near 1075 for
obj. near 1071 to complete the trade. NOTE:
If rallies continue before this
trade is complete, then follow the next aggressive trade and exit both
short positions at the obj. or stop listed in that trade.
(Conservative traders can use a protective buy stop at 1079. Do
not rev. long).
Aggressive traders can sell near 1082 - 1084 area and
if possible near 1086 for obj. near 1079 - 1078 area and possibly near
1076. (Use a buy stop and rev. long at 1092).
Buy stop at 1092 for obj. near 1097 top area and
possibly near 1099 - 1101 area.
Sell stop at 1070 for obj. near 1067 and possibly
near 1066.50 - 1065 area.
Sell stop at 1059 for obj. near 1055 and possibly
near 1053.50 - 1051 area.
Sell stop at 1048.80 for obj. near 1045 - 1043.70
area and possibly near 1040.
Long-term short positions can now use a protective
buy stop at 1159.50.
Bulletin - (Originally sent 5/06/02 10:37 am et)
Because of the whiplashing that developed in the morning action, it
met the objective of the first trade with the sell at 1075 for the obj.
of 1071, but also hit the sell stop at 1070. At this time, the
whiplashing action leaves the chart technically bearish but puts
the 1070 sell stop in a very defensive position. It would be wise
for traders to exit the 1070 short position between 1071 and 1069 just
to eliminate the stress of the trade. Rallies up near the 1082 -
1084 area is still considered a good selling area. Trades below
the 1062 - 1060.70 will be considered a technical failure for lower
prices, therefore the 1059 sell stop will be considered a good
potential trade.
Results: 5/06/02
A TECHNICAL GUIDE FOR DAY TRADING
THE S & P
S & P - For Tuesday
05-07-02 : NOTE: After
each support and resistance listed will designate a value - (very major)
holds the highest importance, then (major), (very significant), and
(significant) is the least of 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.
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:
1059 intra-day channel and 1060.20 peak (major area) /
1065.70 and 1066.30 peaks (major area) / 1067.90
peak and 1068.50 day channel (very
major area) / 1073.20 peak and 1076.30 day top (major
area) / 1077.50 and 1078.50 day channel
(very major area) / 1081 and
1083 minor channels also 1084 minor channel (major area) /
1087.50 minor channel and 1088.50 GBX top (major area) /
1091.80 weekly top (major) / 1097 day top (major)
/ 1101 minor day channel (very
major).
Support:
1050.10 day bottom and monthly close on the daily
chart (very major) / 1044.50
down channel and 1043.70 monthly close on the monthly chart (very
major area) / 1040 weekly down channel
(very major) / 1036.50 day
bottom to 1028.50 day gap (major area) / 1020.50 closing
price (major area) / 1008.70 day bottom (major)
/ 999.50 to 987.50 weekly exhaustion gap (very major area).
Comments:
The sell-off on Monday brought prices down to the 1050.10
monthly closing price, which is one of the last very major support area
found on the daily chart. A failure below 1050.10 and 1043.70 monthly
close can stimulate further selling pressure that can bring prices down well
below the 1000 level and eventually down to the 818 area, which has
been the long-term protective for this move. A trade today above
1068.50 is slightly bullish but only a trade above 1078 and again above
the 1088.50 area can bring any solid bullishness back to the chart.
Rallies are possible from this 1050.10 major support area but traders should
continue to sell the rallies and remaining bearish until the market can
prove otherwise. NOTE:
The 818 area is the long-term 50% retracement area that can materialize
sooner then some might think.
Day trades: For the June
contract -
Aggressive traders can sell rallies near 1057 - 1059 area
for obj. near 1053.50 - 1052 area. (Use a protective buy stop at
1062.70. Do not rev. long).
Aggressive traders can consider short positions near 1065 -
1068 area, if it gets there, for obj. near 1060.50 - 1059 area.
(Use a protective buy stop at 1073.50. Do not rev. long).
Sell stop at 1048.80 for obj. near 1044.50 - 1043.70 area,
and possibly near 1040.
Sell stop at 1038.80 for obj. near 1033.50 and possibly
near 1028.50 gap area.
Sell stop at 1025.50 for obj. near 1021.50 - 1020.50 area.
Sell stop at 1017.50 for obj. near 1011 - 1008.70 area.
Long-term short positions can move the protective buy stop
down to 1153. NOTE: Short
positions can eventually expect to see prices down near the 818 area, where
the trade will exit and take profits.
Results: 5/07/02
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P - For Wednesday
05-08-02 : NOTE: After
each support and resistance listed will designate a value - (very major)
holds the highest importance, then (major), (very significant), and
(significant) is the least of 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.
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:
1053 GBX channel (significant) / 1055 intra-day channel and 1057.80
intra-day peak (major area) / 1059 day top (major)
/ 1061.80 intra-day channel, 1062.50 day channel and
1064 minor channel (very major area)
/ 1072.50 major day channel and 1073 weekly closing
price also 1075.50 GBX channel (very
major area) / 1079.50 minor channel (major)
/ 1083 to 1084.60 day gap and 1086 minor channel
(very major area) / 1088.50
GBX top (significant) / 1091.80 weekly top (major).
Support:
1045.80 bottom and 1043.70 monthly closing price on
the monthly chart (very major area)
/ 1041 daily down channel and 1040 weekly down channel
(very major area) / 1036.50
day bottom and 1033.50 GBX bottom to 1028.50 day gap (major area)
/ 1028.80 weekly bottom (very
major) / 1020.50 closing price (major) /
1008.70 day bottom (major) / 999.50
to 987.50 exhaustion gap on the daily chart also 991.50 weekly bottom
(very major area).
Comments:
The sell-off on Tuesday brought prices down near the
1043.70 monthly closing price, which is a very major support level.
The oversold condition and this major support can stimulate some rallies but
only a trade above 1075.50 and 1079.50 can bring any solid bullishness back
to the chart. Rallies up near the 1062 - 1064 area can be considered a
selling area. A trade below 1040 today can bring prices down near the 1028.50
gap area and possibly lower. NOTE:
Even though rallies are now possible
from this support area, long positions will not be recommended because of
the bearish conditions overall. Remain defensive in this supportive
area. It is one of those days for conservative traders to step aside
and wait for solid signals to develop.
Day trades: For the June
contract -
Aggressive traders can sell rallies near 1059 - 1062 area
and if possible near 1064 for obj. near 1055.50 and possibly near 1053.
(Use a protective buy stop at 1067. Do not rev. long).
Aggressive traders can attempt short positions near 1071 -
1072.50 and if possible near 1073 for obj. near 1066 and possibly near 1064.
(Use a protective buy stop at 1077.70. Do not rev. long).
Sell stop at 1038.80 for obj. near 1034.50 and possibly
near 1033.50 - 1028.50 gap area.
Sell stop at 1025.50 for obj. near 1021.50 - 1020.50 area.
Sell stop at 1017.50 for obj. near 1011 - 1008.70 area.
NOTE: Very
aggressive traders can attempt long positions above the resistance
areas listed but because of the overall bearish conditions long positions
will not be recommended today.
Long-term short positions can continue to use a protective
buy stop at 1153.
Bulletin - Originally sent 5/08/02 (11:18 am et) The rally today brought prices up to a very critical resistance area between 1074 and 1079.50. The short position taken is working a buy stop at 1077.70 that looks a little too close for the chart formation that has developed. It is recommended to move the protective buy stops from 1077.70 up to 1080.50, which is just above the major channel at 1079.50. The trade will risk a little more than expected but it seems better to get the stop out of reach and hopefully reach the obj.
Bulletin -
Originally sent 5/08/02 (3:05 pm et)
Considering the position of the chart formation after the rally today it is possible for some retracements to develop. Aggressive traders can attempt short positions near the 1084 - 1086 area for obj. near 1076 - 1073 area and possibly near 1070. (Use a protective buy stop at 1092. Do not rev. long) Results: 5/08/02
A TECHNICAL GUIDE FOR DAY TRADING
THE S & P
S & P - For Thursday
05/09/02 :
NOTE: After
each support and resistance listed will designate a value - (very
major) holds the highest importance, then (major), (very
significant), and (significant) is the least of 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.
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:
1086.50 newly developed channel (major) / 1089.70
minor channel and 1089.90 top (major area) / 1091.80
weekly top (major) / 1096 minor channel and 1097 day
top (major area) / 1104.50
major day channel (very major
area) / 1107 weekly channel /
1109.50 day top (very major area)
/ 1111 day channel and 1113.50 minor weekly
channel (very major area)
/ 1117.50 channel (major) / 1122 weekly top to
1126.70 weekly gap (major area) / 1128
long-term primary day channel (very
major).
Support:
1081 intra-day base and 1079.70 base (major area) /
1074.20 base (major) / 1071 and 1070.50 base (major)
/ 1066 day bottom (major) / 1059
rev. peak (very major area)
/ 1054.40 GBX base and 1051.40 GBX bottom (major area)
/ 1047.40 day gap and 1046.50 primary day
channel (very major area)
/ 1045.80 day bottom and 1043.70 monthly close
(very major) / 1040
weekly down channel (very major)
/ 1036.50 bottom to 1028.50 day gap (major area).
Comments:
The rally on Wednesday was a little higher then
expected but nevertheless put the chart back into neutral territory
and up near last week's top. Technically, the overbought
condition can stimulate selling pressure. A trade above 1091.80
weekly top can bring prices up near the 1104.50 major resistance,
which can put a lid on the overbought condition and bring a
selling opportunity into view. Overall the major trend remains
down and only a trade above 1128 can reverse the momentum and only a
trade above 1153 can possibly reverse the major trend up. NOTE:
Traders can attempt selling in
this overbought area but remain defensive because the neutral
condition can stimulate whiplashing to both sides before a direction
is seen.
Day trades: For the June
contract -
Aggressive traders can sell rallies near 1086.50
- 1089 area for obj. near 1082 - 1080 area. (Use a buy stop and
rev. long at 1093). (Use a sell stop and rev. short at 1078.50).
NOTE: Daily
position traders can hold short positions for obj. near 1066 or exit
at market on close.
Aggressive traders can attempt short positions near
1102 - 1104 area if it gets there for obj. near 1095 - 1093 area.
(Use a protective buy stop at 1105.20. Do not rev. long).
Buy stop at 1093 for obj. near 1097 - 1100 area and
possibly near 1104.
Sell stop at 1078.50 for obj. near 1074.50 - 1071.50
area.
Sell stop at 1070 for obj. near 1066 - 1064 area and
possibly near 1062.
Sell stop at 1056 for obj. near 1052 and possibly
near 1047.40 gap area.
Sell stop at 1038.80 for obj. near 1034.50 and
possibly near 1028.50 gap area.
NOTE: Daily
position traders can attempt holding short positions taken
today for obj. near 1066 or exit at market on close.
Long-term short positions can continue to use a
protective buy stop at 1153.
Bulletin - Originally sent 5/09/02 (9:41 am et)
The a.m. chart formation appears
bearish and might not give traders a chance to sell rallies near
the 1086.50 - 1089 area. Very Aggressive traders can
attempt short positions by selling near the 1084 - 1083 area.
The first obj. is near 1074.50 - 1071.50 and possibly down near
the 1066 area. (Continue to use a buy stop and rev.
long at 1093).
Results: 5/09/02
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S
& P - For Friday 05-10-02 : NOTE: After
each support and resistance listed will designate a value - (very major)
holds the highest importance, then (major), (very significant), and
(significant) is the least of 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.
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:
1076 intra-day (significant) / 1077.50 intra-day channels and 1078.20
peak also 1078.50 intra-day gap and 1079 intra-day channel and gap (major
area) / 1081.80 peak (significant) / 1083.20
peak and 1083.50 minor day channel (very
major area) / 1086.50 day gap and
1087 GBX channel (very major area)
/ 1089.90 day top and 1090 GBX top also 1091.80
weekly top (very major area)
/ 1094 minor channel and 1097 day top (major area)
/ 1102.50 major day channel (very
major) / 1107 weekly channel
(very major) / 1109.50 day
top and 1110 day channel (major area) / 1112.50 day top
and 1113.30 GBX top also 1113.50 minor weekly channel (very
major area) / 1116 minor day channel (major).
Support:
1070.50 and 1069.50 intra-day base (major area) / 1066
day bottom and 1064 GBX channel (very
major area) / 1059 rev. peak (major area)
/ 1054.40 GBX intra-day base (major area) / 1051.40 GBX
bottom (major) / 1047.50
long-term primary day channel and 1047.40 day gap also 1045.80 bottom
(very major area) / 1040
weekly down channel (very major)
/ 1036.50 to 1028.50 day gap (major area).
Comments:
The sell-off on Thursday from the major resistance
and overbought condition proved to develop as expected leaving
the chart in neutral to slightly bearish condition. The neutral
condition can still stimulate rallies but should be considered a selling
opportunity. A trade above the 1083.50 - 1087 area is slightly
bullish and a trade above the 1091.80 weekly top can possibly bring
higher prices but only a trade above the 1102.50 and again above 1107
can bring any solid bullishness back to the chart. Remain
defensively bearish in this neutral area. A trade below the 1066
bottom and 1064 support area will put the chart in bearish territory
again. A trade below the 1054.40 - 1051.40 area will confirm lower
prices to follow.
Day trades: For the
June contract -
Aggressive traders can sell rallies near 1077 - 1079
area and if possible near 1081 for obj. near 1071 and possibly near
1069.50. (Use a buy stop and rev. long at 1093).
(Conservative traders can use a protective buy stop at 1087.50. Do
not rev. long).
Aggressive traders can attempt short positions near
1100 - 1102 area, if it gets there, for obj. near 1095 - 1093 area
and possibly near 1091. (Use a buy stop and rev. long at 1103.70).
Buy stop at 1093 for obj. near 1096 - 1097 area and if
possible near 1100 - 1102 area.
Buy stop at 1103.70 for obj. near 1107 and possibly
near 1109 - 1110 area.
Sell stop at 1068.80 for obj. near 1066 - 1064 area.
Sell stop at 1062 for obj. near 1059 and possibly near
1057.
Sell stop at 1054 for obj. near 1051 and possibly near
1049.
Sell stop at 1044 for obj. near 1040 and possibly near
1036.50 area.
Long-term short positions can continue to use a
protective buy stop at 1153.
Bulletin - Originally sent 5/10/02 (10:03 am eastern time)
The opening price today at 1076.50 is considered
near enough for the sell to have been executed. Now that the objective
is met at 1071, the trade is complete. The reason for this bulletin is
to bring out the fact of the significance of the 1079 and 1083.50 resistance
area. Usually trades should not be repeated but in this situation the
resistance is that significant that rallies to the 1079 - 1083 area can
still be considered a sell. Continue to use a buy stop and rev. long
at 1092.70. (Conservative traders can use a protective buy stop at
1087.50).
Results: 5/10/02
The
week in review -
5/13/02 -
5/17/02
The Tech Guru's S & P Day
Trading Recommendations
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Monday 05/13/02 :
NOTE: After
each support and resistance listed will designate a
value - (very major) holds the highest importance, then
(major), (very significant), and (significant) is the
least of 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.
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:
1059.50 intra-day channel (major)
/ 1062.50 intra-day channel and 1065 peak (major
area) / 1067 day channel and 1068.50
peak also 1069.50 GBX channel (major
area) / 1072.50
weekly channel (very
major) / 1076.50 day top and
1079.50 GBX top also 1080 day channel (major
area) / 1084 GBX channel and 1086.50
day gap (major area) / 1089.90
weekly top and 1090 GBX top also 1091 minor
channel and 1091.80 weekly top (very
major area) / 1097
weekly channel and 1100.50 major day channel
(very major area).
Support:
1052.50 day bottom and 1051.40 GBX bottom (major
area) / 1048 primary day channel and
1047.40 closing price and gap (major
area) / 1045.80
weekly bottom and 1043.70 monthly closing price
(very major area)
/ 1036.50 bottom to 1028.50 day gap (major
area) / 1020.50 closing price (major)
/ 1008.70 day bottom (major) / 999.50
to 987.50 weekly exhaustion gap (very
major area).
Comments:
The sell-off and close on
Friday put the chart back into bearish territory
and but still faces the 1048 and 1043.70 major
support area. A trade below 1043.70 will
confirm lower prices to follow. Rallies
from this support area are still possible but
should be considered a selling opportunity.
A trade above the 1067 and 1072.50 areas can
bring prices up near the 1090 area again but
only a trade above the 1097 - 1100.50 area can
bring any bullishness back to the chart.
Remain bearish until the market can prove
otherwise.
Day
trades: For the June contract -
Aggressive
traders can sell rallies
near 1059 - 1059.50 area for obj. near 1055 -
1054 area. (Use a protective buy stop near
1061. Do not rev. long).
Aggressive traders can sell
rallies near 1062.50 - 1065 area and if possible
near 1067 for obj. near 1056 - 1054 area
and possibly near 1048. (Use a protective
buy stop at 1073.70. Do not rev. long)
Aggressive traders can attempt short
positions near 1080 - 1084 area, if it
gets there, for obj. near 1076 and possibly near
1073. (Use a buy stop and rev. long at
1093).
Buy stop at 1093 for obj. near
1097 and possibly near 1100.
Sell stop at 1043 for obj. near
1036.50 and possibly near 1033 - 1028.50 gap
area.
Sell stop at 1025.50 for obj.
near 1021.50 - 1020.50 area.
Long-term short positions can
continue to use a protective buy stop at 1153.
Bulletin - Originally sent 5/13/02 (9:52 am et) Since the first trade's obj. was met at the 1054 area, it might be a wise decision to wait for rallies near the 1062 area before attempting short positions again. Follow the second trade recommendation if the market can show the strength to get there. Bulletin - Originally sent 5/13/02 (12:22 pm et) The
market reached a high today at
1072.30, which is the very major
resistance on the weekly chart.
This area is considered a selling
opportunity. For a low risk
trade, it is recommended to attempt
short positions at the 1070 -
1072.50 area for obj. near 1062 and
possibly near 1059. (Continue
to use a protective buy stop at
1073.70. Do not rev. long).
Results:
5/13/02
S & P - For Tuesday
5-14-02 : NOTE: After
each support and resistance listed will designate a value - (very
major) holds the highest importance, then (major), (very
significant), and (significant) is the least of 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.
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, etc.
Resistance:
1076.50 day top and 1077 minor day channel (major)
/ 1081 day channel
including GBX prices (very
major) / 1086.30 day top and
1086.50 day gap also 1087 minor channel (major
area) / 1088.50
minor weekly channel and minor day channel also
1089.90 and 1091.80 weekly tops (very
major area) / 1097
major weekly channel and 1098.50 major day
channel (very
major area) / 1106.50 day
channel (major) / 1108.50
minor weekly channel and 1109.50 day top (very
major area) / 1112.50 day top
and 1114 minor day channel (major area)
/ 1124 primary day channel (very major
area).
Support:
1073 intra-day channel and base (major)
/ 1069 intra-day channel
and 1067.50 base (very
major area) / 1065 rev. peak and
1064.80 base (major) / 1056
minor channel and 1054.20 bottom also 1054.10
gap (very
major area) / 1052.50 bottom and
1051.40 GBX bottom (major area)
/ 1048.50 primary day
channel and 1047.40 closing price and gap also
1045.80 weekly bottom (very
major area) / 1043.70 monthly
close and 1043 down channel (very major
area) / 1036.50 bottom to 1028.50 day
gap (major area).
Comments:
The rally on Monday brought
prices above the closing prices of the previous
two weeks closes, putting the chart back into
neutral territory. A trade above 1081 is slightly
bullish but a trade above 1091.80 top area
can bring prices up to challenge the 1097 -
1098.50 major resistance, which can put a lid on
any further rallies. A trade above 1097 -
1098.50 area will put the chart in totally
bullish territory for higher prices. A
trade below 1069 - 1067.50 will bring
bearishness to the chart but only a trade below
1056 will keep the downtrend intact for lower
prices. NOTE:
The market
can prove to show additional strength from
Monday's rally but must trade above 1097 -
1098.50 to bring any solid bullishness back to
the chart.
Day
trades: For the June contract -
Aggressive traders can attempt short
positions near 1087 - 1089 area and if
possible near 1091 for obj. near 1082 and
possibly near 1080. (Use a buy stop and
rev. long at 1093).
Aggressive traders can attempt short
positions near 1097 - 1098 area for
obj. near 1092 - 1090 area and possibly near
1086. (Use a buy stop and rev. long at
1101.50).
Buy stop at 1093 for obj. near
1097 - 1098 area.
Buy stop at 1101.50 for obj.
near 1106 and possibly near 1108.
Sell stop at 1072 for obj. near
1069.50 and possibly near 1068.
Sell stop at 1065 for obj. near
1060 - 1058 area.
Long-term short positions can
continue to use a protective buy stop at 1153.
Bulletin - Originally sent 5/14/02 (9:52 am et)
The
market opened at 1093, which is the
buy stop listed in today's report.
Because the market began to sell off
from this area, it is possible that
the high for the day was seen.
It is recommended for all long
positions to exit and cut losses.
Do not attempt to repeat this trade.
Very
Aggressive traders can attempt short
positions with a protective
buy stop at 1093.20.
It is
possible for the market to rally up
near the 1097 - 1098.50 area where
short positions can be considered.
Results: 5/14/02
A
TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S
& P - For Wednesday
05-15-02 :
NOTE: After
each support and resistance
listed will designate a value -
(very major) holds the highest
importance, then (major), (very
significant), and (significant)
is the least of 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.
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:
1099.80
top and intra-day channel
(very
major) / 1105
day channel (major)
/ 1108
minor weekly channel and 1109.50
day top (very
major area) /
1112.50 day top and 1113 day
channel also 1113.30 GBX top (major
area) / 1122
weekly top and 1123 long-term
primary day channel (very
major area) /
1126.70 weekly gap and 1128 GBX
top (major area)
/ 1134.40 weekly top and 1135.70
GBX top (major area)
/ 1142.50 long-term primary
weekly channel (very
major area) / 1149.90
weekly top and 1152 long-term
secondary channel (very
major area).
Support:
1096.50 GBX channel and base
also 1094.50 intra-day channel
and base (major area)
/ 1091.50 intra-day channel and
1089.70 - 1089.30 base area (major
area) / 1086.20
bottom (very
major area) /
1075.50 day gap and 1074.50 GBX
bottom (major area)
/ 1067.50 intra-day base also
1065 and 1064.80 base (major
area) / 1058.50
minor channel and 1057.50 GBX
minor channel (very
major area) /
1054.20 bottom and 1054.10 gap
also 1052.50 bottom (major
area) / 1049
primary day channel and 1047.40
day gap and 1045.80 weekly
bottom (very
major area).
Comments:
The follow
-through rally on Tuesday
brought prices up to the very
major resistance area that could
possibly put a lid on further
rallies for a while. A
trade above the 1099.80 top can
bring prices up near the 1105 -
1108 resistance that can also
prove to be solid enough
resistance, along with the
overbought conditions, to
stimulate a sell-off
retracement. NOTE:
A
close on Friday above 1080 will
leave the chart neutral to
bullish. A close on Friday
below 1080 will leave the chart
neutral to bearish for next
week. Traders can look for
retracements to materialize
below 1080 buy Friday.
Remain very defensive at this
critical resistance area.
It could turn out to be the top
of the entire up move. Also
note, only a trade above
the 1123 primary channel can
possibly bring enough
bullishness to challenge the
1152 trend reversal area.
Day
trades: For the June
contract -
Aggressive traders can
consider short positions
near the 1097 - 1099 area for
obj. near 1092 - 1091.50 area
and possibly near 1089.70.
(Use a buy stop and rev. long at
1101.50).
Buy stop at
1101.50 for obj. near 1105 and
possibly near 1108 area.
Aggressive traders can
consider short positions
near 1105 - 1108 area for obj.
near 1099 - 1096 area and
possibly near 1094. (Use a
protective buy stop at 1114.20.
Do not rev. long).
Sell stop at
1083 for obj. near 1077 -
1075.50 gap area and possibly
near 1074.
Sell stop at
1072 for obj. near 1068 and
possibly near 1065.
Long-term short
positions can
continue to use a protective
buy stop at 1153.
Bulletin - Originally sent 5/15/02 (9:54 am eastern time)
The sell-off
seen today from the major resistance area is
proving the significance of this area.
Aggressive daily
position traders holding short positions
today can look for the obj. near the 1075.50
gap area and possibly a little lower.
It seems unlikely the market will have the
strength to trade above the 1099.80 top
area, but continue to remain defensive until
a trade below the 1086.20 bottom is seen.
Results: 5/15/02
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Thursday 05-16-02 :
NOTE: After
each support and resistance listed will designate a value -
(very major) holds the highest importance, then (major), (very
significant), and (significant) is the least of 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.
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:
1095.80 and 1096 intra-day peaks also
1099.50 intra-day gap (major area)
/ 1101.50 and 1102.30 peaks (major
area) / 1103 and 1103.50 newly
developed day channel also 1105.20 top (major
area) / 1108 minor weekly channel
and 1109.50 day top (very major
area) / 1112 day channel also
1112.50 day top and 1113.30 GBX top (major
area) / 1122 long-term primary
day channel also 1122 weekly top (very
major area) / 1126.70 weekly gap
(major area) / 1142.50
long-term primary weekly channel (very
major).
Support:
1091.50 minor channel also 1090.50 and
1090.20 base and 1089 bottom (major
area) / 1086.20 bottom and 1084
rev. channel (very major area)
/ 1075.50 day gap and 1074.50 GBX bottom (major
area) / 1067.50 intra-day base
also 1065 and 1064.80 base (major
area) / 1060.50 minor channel and
1059.50 GBX channel (very major
area) / 1054.20 bottom and
1054.10 gap also 1052.50 bottom (major
area) / 1049.50 primary day
channel also 1047.40 day gap and 1045.80
weekly bottom (very major area).
Comments:
The whiplashing action
on Wednesday keeps the chart in a neutral
and defensive condition. A trade
above the 1105 - 1108 area can bring
prices up to challenge the 1122 primary
channel. A trade above 1122 will put
the chart in totally bullish territory but
only a trade above 1142.50 and 1152 area
can possibly reverse the long-term major
trend up. The neutral condition
between 1103 and 1084 can stimulate
whiplashing to both sides until a breakout
is seen. A trade below 1084 is
bearish for prices to possibly reach down
to the 1075.50 gap area but only a
trade below 1059.50 can bring any solid
bearishness back to the chart for lower
prices. NOTE:
The overbought condition and the
significant resistance in this area is
worthy for traders to continue to attempt
short positions until a breakout above the
1122 area is seen.
Day
trades: For the June contract -
Aggressive traders can sell
rallies
near 1097 - 1099.50 area for obj. near
1092 and possibly near 1091.50 area.
NOTE:
If rallies continue before this trade is
complete then follow the next aggressive
trade and exit both short positions at the
obj. or stop listed in that trade.
(Conservative traders can use a protective
buy stop at 1100.50. Do not rev.
long).
Aggressive traders can sell
rallies
near 1102.50 - 1103.50 area for obj. near
1097 - 1096 area and possibly near
1094. (Use a protective buy stop at
1106.20. Do not rev. long).
Aggressive traders can attempt
short positions
near 1108 - 1110
area, if it gets there, for obj. near 1102
- 1100 area and possibly near 1098.
(Use a buy stop and rev. long at 1114.50).
Buy
stop at 1114.50 for
obj. near 1118.50 - 1119.50 and possibly
near 1122 area.
Sell
stop at 1088.80 for
obj. near 1086.50 - 1084.50 area.
Sell
stop at 1082 for
obj. near 1077 - 1075.50 gap area.
Sell
stop at 1071.50 for
obj. near 1068.50 - 1067.50 area and
possibly near 1065.
Long-term short positions
can
continue to use a protective buy stop at
1153.
Results: 5/16/02
A
TECHNICAL GUIDE FOR DAY TRADING
THE S & P
S
& P - For Friday 05-17-02 :
NOTE: After
each support and resistance listed
will designate a value - (very major)
holds the highest importance, then
(major), (very significant), and
(significant) is the least of 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.
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:
1102 and 1102.50 day channels (major) / 1105.20 top
(major) / 1108 minor weekly
channel also 1109.50 day top and 1110 day channel (very
major area) / 1112.50 day top and 1113.30 GBX top (major)
/ 1120.50 long-term primary day channel and
1122 weekly top (very major
area) / 1126.70 weekly closing price and gap also
1128 GBX weekly top (major area) / 1134.40 weekly
top and 1135.70 GBX top (major area) / 1140
long-term secondary day channel also 1142.50 long-term primary
weekly channel (very major
area) / 1152 long-term
secondary weekly channel (very
major area).
Support:
1097.50 GBX channel and intra-day channel (major) /
1095 base (significant) / 1092 base and 1091 minor day channel (major
area) / 1086.20 bottom (very
major area) / 1083.50 rev. channel (major)
/ 1075.50 day gap and 1074.50 GBX bottom (major area)
/ 1067.50 intra-day base also 1065 and 1064.80 base (major
area) / 1063 minor day channel and
1061.50 GBX channel (very major
area) / 1054.20 bottom and 1054.10 weekly close and
gap (major area) / 1047.40
closing price and gap also 1045.80 bottom (very
major area).
Comments:
The trading range on Thursday remained inside the
neutral range but the closing price was the highest for the week
leaving it slightly supportive for possible higher prices. The
market faces resistance at the 1108 - 1110 area that is very
significant at this time. A trade above 1108 - 1110 can
challenge the primary resistance at 1120.50 - 1122 area, which
technically would be considered a breakout for higher prices if it
can trade above. A trade below the 1091 - 1089 area is
slightly bearish but only a trade below 1086.20 bottom and 1083.50
can bring any solid bearishness back to the chart. Overall, the
market remains in a neutral and very critical area. Since the
resistance at 1108 - 1110 area and the overbought condition is as
significant as it is, traders can attempt short positions in this
area until a breakout above 1120.50 - 1122 area is seen.
Day
trades:
For the June contract -
Aggressive traders can attempt
short positions near 1105 - 1108 area and if
possible near 1110 for obj. near 1098.50 - 1097.50 area. (Use
a protective buy stop at 1114.50. Do not rev. long).
Aggressive traders can attempt short positions
near 1118.50 - 1120.50 area for obj. near 1111 and possibly near
1108. (Use a buy stop and rev. long at 1123.20).
Buy
stop at 1123.20 for obj. near 1126.70 gap area and possibly near
1128 - 1130 area.
Sell
stop at 1096.50 for obj. near 1095 - 1092 area and possibly near
1091.
Sell
stop at 1088.80 for obj. near 1086.50 area and possibly near 1084.50
- 1083.50 area.
Sell
stop at 1081.50 for obj. near 1076.50 - 1075.50 gap area.
Sell
stop at 1071.50 for obj. near 1068.50 - 1067.50 area and possibly
near 1065.
Long-term short positions can continue
to use a protective buy stop at 1153. Additional long-term
short positions can be added in the 1108 and 1120.50 areas using a
protective buy stop at 1132 for new positions.
Results: 5/17/02
The
week in review - 5/20/02 -
5/24/02
The Tech Guru's S & P Day
Trading Recommendations
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Monday 05/20/02 :
NOTE: After
each support and resistance listed will designate a
value - (very major) holds the highest importance, then
(major), (very significant), and (significant) is the
least of 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.
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:
1106.50 day channel and 1107.90 day top (major
area) / 1109 GBX channel and
1109.10 GBX top also 1109.50 day top (very
major area) / 1112.50 day top and
1113.30 GBX top (major area)
/ 1119 long-term primary day channel (very
major) / 1122 weekly top (major)
/ 1126.70 weekly closing price and gap also
1128 GBX weekly top (major area)
/ 1134.40 weekly top and 1135.70 GBX top (major
area) / 1138 long-term primary
weekly channel and 1139 long-term secondary
day channel (very major area)
/ 1143.20 day top to 1144.50 day gap also
1145 GBX top (major area) /
1149.20 monthly closing price also 1149.50
long-term secondary weekly channel and
1149.90 weekly top (very major area).
Support:
1104 day channel also 1103.50 intra-day
channel (major area) / 1101
rev. weekly channel and 1100 intra-day
channel (major area) /
1098.30 base and 1097.10 bottom also 1095.50
base (major area) / 1093
minor day channel and 1092 base (very
major area) / 1089.50 and 1089
bottoms (major area) /
1086.20 weekly bottom (very major)
/ 1075.50 gap and 1174.50 GBX bottom (major
area) / 1067.50 intra-day base also
1065 minor day channel and base (very
major area).
Comments:
The rally and close on
Friday from the support area put the chart
in bullish territory. Because of the
critical resistances that exist on the daily
chart at 1109 and again at 1119 along with
the overbought conditions can possibly
stimulate some retracements. A trade
above 1109 is bullish and a trade above 1119
can bring prices up near the 1126.70 gap
area and possibly challenge the 1138 primary
resistance. A trade below 1092 today
is bearish but only a trade below the
1086.20 weekly bottom can bring any solid
bearishness back to the chart. Traders
should remain very defensive in this
critical area, the market can move to either
side.
Day
trades: For the June contract -
Aggressive traders can buy
dips near 1103 - 1100 area and sell rallies
near 1106.50 - 1109 area, whichever side
comes first to complete the trade.
(Use a sell stop and rev. short at 1096.50).
(Use a buy stop and rev. long at 1110.20).
Sell stop at 1096.50 for
obj. near 1093.50 - 1092 area.
Sell stop at 1083 for obj.
near 1077 - 1075.50 area.
Sell stop at 1071.50 for
obj. near 1067.50 - 1065 area.
Buy stop at 1110.20 for
obj. near 1114 - 1115 area and possibly near
1118.
Aggressive traders can attempt short
positions near 1118 - 1119 area for
obj. near 1112 - 1110 area. (Use a buy
stop and rev. long at 1123.70).
Buy stop at 1123.70 for
obj. near 1126.70 gap and possibly near 1128
top area.
Long-term short positions
can continue to use a protective buy stop at
1153.
Results: 5/20/02
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Tuesday 05/21/02 :
NOTE: After
each support and resistance listed will designate a
value - (very major) holds the highest importance, then
(major), (very significant), and (significant) is the
least of 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.
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:
1094 and 1095 intra-day channels also
1096 day channel with GBX prices (major area)
/ 1096.70 peak and 1097.80 peak also 1097.50 day
channel (major area) / 1100.20 peak
and 1102.50 top (major area) /
1104.50 minor GBX channel and 1105.20 gap (major
area) / 1106.50 and
1107.50 GBX channels also 1107.90 weekly top and
1109.10 GBX weekly top and 1109.50 day top (very
major area) / 1112.50 day top and
1113.30 GBX top (major area) / 1117.50
long-term primary day channel (very
major area) / 1122 weekly top (major)
/ 1126.70 weekly closing price and gap also 1128 GBX
weekly top (major area) / 1134.40
weekly top and 1135.70 GBX top (major area)
/ 1138 long-term primary weekly
channel (very
major area).
Support:
1092 minor channel and 1091 bottom (major
area) / 1089.50 and
1089 bottoms also 1086.20 weekly bottom (very
major area) / 1075.50 day gap and
1074.50 GBX bottom (major area) / 1067.50
and 1065 base area also 1067 and 1065.50 minor
channels (very
major area) / 1054.20
weekly bottom and 1054.10 weekly close and gap also
1051.50 primary day channel
(very major area) / 1047.40
gap and 1045.80 weekly bottom (major area)
/ 1043.70 monthly close and 1041
down channel (very
major area).
Comments:
The sell-off on
Monday proves the significance of the 1108 - 1109
resistance area. The close on Monday was lower
then the last four day's closing prices taking the
chart out of bullish territory but because the market
remained above last weeks lows, leaves the chart in
neutral condition. A trade above 1109 is bullish
and a trade above the 1117.50 primary channel will be
considered a breakout for higher prices. A trade
below the 1089.50 and 1089 bottoms are bearish and a
trade below the 1086.20 weekly bottom can bring prices
down to challenge the 1075.50 gap area. NOTE:
Only a trade below the
1067 - 1065 area will confirm the downtrend intact for
lower prices to follow. Remain defensive,
the market can still swing to either side.
Day trade:
For the June contract -
Aggressive traders can sell
rallies near 1096 - 1097.50 and buy dips near 1093 -
1091, whichever side comes first, to complete the
trade. (Use a protective buy stop at 1100.50.
Do not rev. long). (Use a protective sell stop
at 1088. Do not rev. short).
Aggressive traders can attempt
short positions near 1104 - 1106 area and if
possible near 1107.50 for obj. near 1100 - 1099 area.
(Use a buy stop and rev. long at 1110.70).
Buy
stop at 1110.70 for obj. near 1113.50 - 1117 area.
Buy stop at 1120 for
obj. near 1123 - 1126.70 gap area.
Sell
stop at 1083.50 for obj. near 1077 - 1075.50 area.
Sell stop at 1071.50
for obj. near 1068 - 1065 area.
Sell stop at 1063 for
obj. near 1057 - 1054 area.
Long-term short positions
can continue to hold and use a protective buy stop at
1153.
Bulletin
- Originally sent 5/21/02 (4:15 pm eastern
time)
The market hit
the sell stop at 1083.50 and continued to
move lower. At this time the 1079.50
area is showing some support for
conservative traders to consider taking
profits and cancel the obj. of 1077 -
1075.50.
Results: 5/21/02
A TECHNICAL
GUIDE FOR DAY TRADING THE S & P
S
& P - For Wednesday 05-22-02 :
NOTE: After
each support and resistance listed will designate
a value - (very major) holds the highest
importance, then (major), (very significant), and
(significant) is the least of 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.
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:
1083.50 intra-day channel and double peak also
1084 minor day channel (major area) /
1089 and 1089.80 intra-day double peak area (major)
/ 1094 minor channel with
GBX prices (very
major area) / 1097.70 and 1097.80
double peak area also 1098.50 minor channel (major
area) / 1100.50 top and 1102.50 top (major
area) / 1104 day
channel and 1105.20 weekly close and gap also
1106.70 GBX top (very
major area) / 1107.90 weekly top
and 1109.10 GBX top also 1109.50 day top (major
area) / 1116.50
long-term primary day channel (very
major area) / 1122 weekly top (major)
/ 1126.70 weekly close and
gap also 1128 GBX top (very
major area).
Support:
1080 intra-day channel and 1079.20 bottom also
1078 minor down channel (major area)
/ 1075.50 day gap and 1074.50 GBX bottom (major
area) / 1069 and
1067.50 minor day channels also 1067.50 base (very
major area) / 1065
rev. peak (significant) / 1054.20 weekly bottom
and 1064.10 weekly close and gap also 1052 primary
day channel (very
major area) / 1047.40 day gap and
lowest closing price also 1045.80 weekly bottom (major
area) / 1043.70
monthly close and 1040.50 down channel (very
major area) / 1036.50 weekly
bottom to 1028.50 day gap (major area).
Comments:
The sell-off on Tuesday below
last week's bottom areas confirm the
significance of the 1109 resistance and can prove
to be a major signal that the top of the
short lived minor rally is finished. Only a
trade above the 1116.50 primary day channel can
bring any bullishness back to the chart.
Traders can continue to sell rallies inside this
neutral to bearish area. A trade below
1069 - 1067.50 area will confirm the downtrend
intact for lower prices to follow. NOTE:
Yesterday's
buy stop at 1100.50 was a perfect example of
placing stops too close to the entry point.
It should not be expected for anyone to complain
of wide stops when necessary to prevent these
situation.
Day
trades: For the June contract -
Aggressive traders can sell near
1082 to 1084 for obj. near 1075.50 gap area and
possibly near 1074. (Use a buy stop and rev.
long at 1100.70). (Conservative traders can
use a protective buy stop at 1087.20. Do not
rev. long).
Aggressive traders can sell
rallies near 1089 - 1092 area, if it gets there,
for obj. near 1085 and possibly near 1082.
(Use a buy stop and rev. long at 1100.70).
Buy stop at 1100.70 for obj. near
1104 and possibly near 1105.20 gap area.
Buy stop at 1110.50 for obj. near
1115 - 1116.50 area.
Buy stop at 1119.50 for obj. near
1123 - 1126.70 gap area.
Sell stop at 1077.50 for obj.
near 1075.50 gap area and possibly near 1074.
Sell stop at 1073 for obj. near
1070 - 1069 area and possibly near 1067.50.
Sell stop at 1063 for obj. near
1056 - 1054.10 gap area and possibly near 1052.
Sell stop at 1050 for obj. near
1047.40 gap area and possibly near 1045.80 -
1043.70 area.
Long-term short positions can
continue to hold and use a protective buy stop at
1153.
Bulletin - Originally sent 5/22/02 (12:08 pm eastern time)
The market hit the sell stop at 1077.50 this
morning before the 1082 - 1084 area came to
play. traders can consider liquidating
both positions at this area of 1077 and
locking in profits on all trades.
Results: 5/22/02
A TECHNICAL
GUIDE FOR DAY TRADING THE S & P
S
& P - For Thursday 05-23-02 :
NOTE: After
each support and resistance listed will
designate a value - (very major) holds the
highest importance, then (major), (very
significant), and (significant) is the least of
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.
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:
1086.80 top and 1088 minor channel (major
area) / 1091 and
1093 minor day channels (very
major area) / 1096.50 minor day
channel (major) / 1100 GBX
channel and 1100.50 top (major)
/ 1102.50
weekly top and 1103 major day channel (very
major area) / 1104 channel and
1105.20 weekly close and gap also 1105.50 day
channel and 1106.70 GBX top (major area)
/ 1107.90 weekly top and 1109.10 GBX top (major
area) / 1115
long-term primary day channel (very
major area) / 1122 weekly top (major)
/ 1126.70 weekly close and gap also 1128 GBX top
(major area).
Support:
1082 and 1081.50 rev. intra-day peaks (major
area) / 1079 newly developed day
channel (major area) / 1075.70
bottom also 1075.50 day gap and 1074.50 GBX
bottom (major area) / 1071.50
minor day channel and 1069.50 minor GBX channel
(very major area)
/ 1067.50 intra-day base (major area)
/ 1054.20 weekly bottom
and 1054.10 weekly close and gap also 1052.50
primary day channel and bottom area (very
major area) / 1047.40 day gap
and 1045.80 weekly bottom (major area)
/ 1043.70 monthly close
and 1040 down channel (very
major area).
Comments:
The rally seen at the end of
the day on Wednesday put the chart in neutral
territory and subject to swings to either side.
A trade above 1088 and 1093 is slightly bullish
and can bring prices up a little higher but only
a trade above 1103 and 1106.50 area is bullish
enough to challenge the 1115 primary resistance.
A trade above 1115 will put the chart in totally
bullish territory for higher prices to follow.
A trade below 1079 is bearish but only a trade
below 1071 - 1069.50 area will confirm the
downtrend intact for lower prices to follow.
Remain defensive inside this neutral area.
Day
trades: For the June contract -
Aggressive traders can sell
rallies near 1087 - 1088 area and if possible
near 1092 for obj. near 1082 and possibly near
1079. (Use a protective buy stop at
1097.90. Do not rev. long).
Aggressive traders can attempt short
positions near 1102 - 1105 area, if it
gets there, for obj. near 1097 - 1095 area.
(Use a buy stop and rev. long at 1110.20).
Buy stop at 1110.20 for obj.
near 1113 - 1115 area.
Buy stop at 1118 for obj. near
1122 and possibly near 1126.70 gap area.
Sell stop at 1076.80 for obj.
near 1073 - 1071.50 area and possibly near
1069.50.
Sell stop at 1064 for obj. near
1057 - 1055 area and possibly near 1053.
Sell stop at 1050 for obj. near
1047.40 gap area and possibly near 1043.70.
Long-term short positions can
continue to hold and use a protective buy stop
at 1153.
Bulletin
- Originally sent 5/23/02 (11:26 am eastern
time)
The short position today is now complete
considering the double bottom made at
1083.25. The bearish conditions still
exist on a technical basis for prices to
possibly reach the 1079 area. Trades
below 1079 will signal additional
bearishness for lower prices.
Results: 5/23/02
A
TECHNICAL GUIDE FOR DAY TRADING THE S
& P
S
& P - For Friday 05-24-02 :
NOTE: After
each support and resistance listed will
designate a value - (very major) holds the
highest importance, then (major), (very
significant), and (significant) is the least
of 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.
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:
1098 GBX and minor day channel also 1099 top (major)
/ 1100.50 top and 1101
major day channel also 1102.50 weekly top (very
major area) / 1104 day channel
and 1105.20 weekly close and gap and 1106.70
GBX top (major area) /
1107.90 weekly top and 1109.10 GBX top (major
area) / 1112.50
day top and 1113.30 GBX top also 1114
long-term primary day channel (very
major area) / 1122 weekly top (major)
/ 1126.70 weekly close and gap also 1128 GBX
top (major area) / 1134.40
weekly top and 1135.70 GBX top also 1136
long-term secondary channel (very
major area) / 1138
primary weekly channel (very
major area) / 1143.20 top to
1144.50 day gap (major area)
/ 1149.20 monthly close
and 1149.90 weekly top also 1149.50 weekly
channel (very
major area).
Support:
1094.50 and 1092.50 intra-day base (major
area) / 1085.50 minor day channel and
intra-day channel (major area)
/ 1082 day channel and
1080.50 bottom (very
major area) / 1075.70 bottom
and 1075.50 day gap also 1074.50 GBX bottom (major
area) / 1073.50
minor day channel and 1071.50 GBX minor
channel (very
major area) / 1067.50
intra-day base (major) / 1054.20
weekly bottom and 1054.10 weekly close and gap
also 1053 primary day channel (very
major area).
Comments:
The rally and close on
Thursday put the chart in neutral to bullish
territory. A trade above 1101 and 1103
area can stimulate additional short covering
to bring prices up near the 1107.90 top area
and possibly near the 1114 primary channel.
Only a trade above 1114 can bring the chart
into bullish territory for higher prices.
A trade below 1085 and 1082 is bearish but
only a trade below the 1073.50 - 1071.50 area
will confirm the downtrend intact for lower
prices to follow.
Day
trades: For the June contract -
Aggressive traders can buy
dips near 1095 - 1092.50 area for obj. near
1099 - 1101 area and possibly near 1104.
(Use a sell stop and rev. short at 1090.30).
Aggressive traders can sell
rallies near 1101 - 1104 area and if possible
near 1105.20 gap area for obj. near 1094.50 -
1092.50 area. (Use a buy stop and rev.
long at 1109.70).
Buy stop at 1109.70 for obj.
near 1112.50 - 1114 area.
Buy stop at 1117 for obj.
near 1121 - 1123 area and possibly near
1126.70 gap area.
Sell stop at 1090.30 for obj.
near 1087 - 1085 area and possibly near 1082.
Sell stop at 1079 for obj.
near 1075 - 1074 area and possibly near
1073.50 - 1071.50 area.
Sell stop at 1069.80 for obj.
near 1065.
Sell stop at 1063 for obj.
near 1057 - 1055 area and possibly near 1053.
Long-term short positions can
continue to use a protective buy stop at 1153.
NOTE: If
the market appears it will close above 1117 on
Friday then exit all short positions and
re-enter the short position near the 1126.70
gap area or possibly near 1134.
Bulletin - Originally sent 5/24/02 (10:38 am eastern time)
The market entered the long position today
between 1095 and 1092.50. The rally
seen up to 1097.50 fell short of the obj.
near 1099. The chart formation is
appearing slightly bearish at this time and
it is recommended for all long positions to
exit at this break even area before
potential losses occur.
Bulletin
- Originally sent 5/24/02 (10:43 am eastern
time)
If the market sells off near the 1085 area
and possibly near 1082 it will be considered a
possible support for long positions to be
considered. A trade below 1082 - 1080.50
area will fail the support for possible lower
prices.
Aggressive traders can consider long
positions near 1085 and if possible near
1082 for obj. near 1092 and possibly near
1095. (Use a sell stop and rev.
short at 1079).
Results: 5/24/02
The
week in review -
5/28/02 -
5/31/02
The Tech Guru's S & P Day
Trading Recommendations
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Tuesday 05/28/02 :
NOTE: After
each support and resistance listed will designate a
value - (very major) holds the highest importance, then
(major), (very significant), and (significant) is the
least of 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.
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:
1086.50, 1087 and 1087.50
intra-day channels also 1088 peak (major
area) / 1090 GBX top, 1090.50 and
1090.70 double peak area (major
area) / 1093 day channel and
1094.50 minor channel also 1094.50 peak (major
area) / 1097
weekly channel and top also 1098 day
channel and 1099 day top (very
major area) / 1100.70
GBX top and 1101 GBX channel also 1102.50
weekly top (very
major area) / 1105.20
weekly close and gap also 1106.70 GBX top (major
area) / 1107.90
weekly top and 1109.10 GBX top also 1111
long-term primary day channel (very
major area) / 1122 weekly
top (major) / 1126.70
weekly close and gap also 1128 GBX top (major
area).
Support:
1082 intra-day double
bottom also 1080.50 bottom (major
area) / 1077
minor channel also 1075.70 bottom and
1075.50 day gap also 1074.50 GBX channel
and GBX bottom (very
major area) / 1067.50
intra-day base and 1065 minor weekly
channel (major area) / 1055
weekly channel and 1054.50 primary channel
also 1054.20 weekly bottom and 1054.10
weekly close and gap
(very major area)
/ 1047.40 day gap and 1045.80 weekly
bottom (major area) / 1039.80
weekly down channel and 1039.50 daily down
channel (very
major area).
Comments:
The
sell-off and close on Friday put
negativity to the chart but managed to
hold above the 1080.50 - 1077 support
areas leaving the chart neutral to
slightly bearish. Only a trade
above 1099 - 1101 can bring any
bullishness back to the chart. A
trade above 1111 will confirm higher
prices to follow. A trade below 1077
and also below 1074.50 is bearish and will
bring the downtrend back into play.
A trade below 1055 will confirm the
downtrend intact for lower prices.
Remain defensive inside this neutral
trading range that now exists between 1097
- 1077.
Day
trades: For the June contract -
Aggressive traders
can sell rallies near 1086.50 -
1088 area or buy dips near 1083.50 - 1082
area, whichever side comes first to
complete the trade. (Use a
protective buy stop at 1089.70. Do
not rev. long). (Use a protective
sell stop at 1079. Do not rev.
short).
Aggressive traders
can sell rallies near 1093 and if
possible near 1097 for obj. near 1086 and
possibly near 1084. (Use a buy stop
and rev. long at 1102.70).
Buy
stop at 1102.70 for obj. near 1105.20 gap
and possibly near 1107.90 top area.
Buy stop
at 1114 for obj. near 1120 - 1122 area.
Sell
stop at 1072 for obj. near 1068 - 1065
area.
Sell stop
at 1062 for obj. near 1057 - 1055 area.
Sell stop
at 1052 for obj. near 1047.40 gap and
possibly near 1045.80 bottom.
Sell stop
at 1044 for obj. near 1040 - 1039.50 area.
Long-term short
positions
can continue to use a protective buy stop
at 1153.
Bulletin - Originally sent 5/28/02 (2:40 pm eastern time)
The sell stop was hit today at 1072 for
short positions to be taken. The
market developed support at this area
stimulating rallies up to the resistance at
1077 - 1078 area. There is a
possibility the market will hold this 1077 -
1070 trading range today so it is
recommended for traders to exit the short
position near the 1074 - 1071 area for
a break even or small loss on the
trade.
Results: 5/28/02
A
TECHNICAL GUIDE FOR DAY TRADING THE S
& P
S
& P - For Wednesday 05-29-02 :
NOTE: After
each support and resistance listed will
designate a value - (very major) holds the
highest importance, then (major), (very
significant), and (significant) is the
least of 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.
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:
1077 and 1078 double peak also 1079
intra-day peak (major area)
/ 1081 and 1082 day channels (major
area) / 1083.50 GBX channel and
1084 peak (major area) /
1086.80 day top and 1088.50 and 1090 GBX
tops also 1091 day channel (major
area) / 1096.50
major day channel and 1097 day top (very
major area) / 1099
day top and 1099.50 day channel (very
major area) / 1100.70 GBX
top and 1102.50 weekly top (major
area) / 1105.20 weekly close and
gap area also 1106.70 GBX top (major
area) / 1107.90
weekly top and 1109.10 GBX top also 1110
long-term primary day channel (very
major area).
Support:
1073 intra-day channel and 1072.20 base
also 1072 newly developed day channel (major
area) / 1070 bottom and 1069
minor weekly channel excluding the GBX
prices (major) / 1067.50
weekly channel and intra-day base (very
major area) / 1055
primary day channel also 1054.20 weekly
bottom and 1054.10 weekly close and gap
also 1053.40 GBX bottom (very
major area) / 1047.40 day
gap and 1045.80 weekly bottom
(major area) / 1043.70 monthly
closing price and 1039.50 weekly down
channel (very major area)
/ 1036.50 weekly bottom and 1028.50 day
gap (major area).
Comments:
The sell-off and close
on Tuesday below the 1077 channel support
put the chart in bearish territory.
Rallies should be considered a selling
opportunity. A trade above the
1083.50 area can possibly bring prices up
near the 1091 area but only a trade above
1096.50 and 1099.50 can bring any
bullishness back to the chart. A
trade below 1072 is bearish but a trade
below 1067.50 will confirm the downtrend
intact for lower prices. A trade
below 1055 will fail the primary channel
for a possible free falling price decline.
Remain bearish until the market can prove
otherwise.
Day
trades: For the June contract -
Aggressive traders can sell
rallies near 1077 - 1079 area and if
possible near 1081 - 1082 area for obj.
near 1072 and possibly near 1067 area.
(Use a protective buy stop at 1086.70.
Do not rev. long). NOTE:
Because
of the bearish conditions, Very aggressive
traders can sell at market on
open and hold for obj. near 1058 - 1055
area or exit market on close.
Aggressive traders can sell
rallies near 1091 - 1096 area, if it
ever gets there, for obj. near 1086
and possibly near 1082. (Use a buy
stop and rev. long at 1103).
Buy stop at 1103 for obj.
near 1107 - 1110 area.
Buy stop at 1114 for obj.
near 1120 - 1122 area.
Sell stop at 1064.50 for
obj. near 1058 - 1055 area.
Sell stop at 1051 for
obj. near 1047 - 1043.70 area and possibly
near 1040.
Sell stop at 1038 for
obj. near 1034 - 1030 area and possibly
near 1028.50 gap area.
Long-term short positions
can continue to remain short and use a
protective buy stop at 1153.
Results: 5/29/02
A
TECHNICAL GUIDE FOR DAY TRADING THE
S & P
S
& P - For Thursday 05-30-02 :
NOTE: After
each support and resistance listed will
designate a value - (very major) holds
the highest importance, then (major),
(very significant), and (significant) is
the least of 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.
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:
1070.50 intra-day channel (major)
/ 1072.50 intra-day channel and 1073 day
channel also 1073.50 peak (major
area) / 1075.30
day top and 1076.60 day gap also 1077
day channel and GBX top (very
major area) / 1082.40
weekly closing price (significant) /
1086.80 day top also 1088.50 day channel
and GBX top and 1090 GBX top (major
area) / 1094.50
GBX channel (very
major area) / 1097 day
top and 1098 channel also 1099 day top (major
area) / 1100.70 GBX top and
1102.50 weekly top (major area)
/ 1105.20 weekly close and gap area also
1106.70 GBX top (major area)
/ 1107.90 weekly
top also 1108.50 long-term primary day
channel and 1109.10 GBX top (very
major area).
Support:
1064
minor down channel (significant) /
1056 primary day channel (very
major area) / 1054.20
weekly bottom and 1054.10 weekly close
and gap also 1053.40 GBX bottom (major
area) / 1047.40 day gap and
1045.80 weekly bottom (major
area) / 1043.70
monthly close on the monthly chart
(very
major area) / 1039.50
weekly down channel (major)
/ 1037 daily down channel and 1036.50
weekly bottom (major area)
/ 1028.50 day gap (major area)
/ 1020.50 closing price (major
area).
Comments:
The
follow-through sell-off on Wednesday
keeps the downtrend intact and in
bearish territory for possible lower
prices. The market is now facing a
significant support level at 1056, which
is a primary day channel. A trade
below the 1056 area will confirm the
major downtrend intact for prices to
challenge below the 1000 level again.
A trade above 1077 today is slightly
bullish but only a trade above the
1088.50 and 1094.50 area could bring any
solid bullishness back to the chart.
Remain bearish until the market can
prove otherwise.
Day
trades: For the June contract
-
Aggressive traders can sell
rallies near 1070 - 1073 area for obj.
near 1058 - 1056 and possibly near
1054.10 gap. (Use a buy stop and
rev. long at 1080). NOTE:
If
the market opens below 1066, then
very aggressive traders
can attempt short positions near 1064 -
1066 area for obj. near 1058 - 1056 area
and possibly near 1054.10 gap.
(Use a buy stop and rev. long at 1080).
Buy stop at 1080 for
obj. near 1083 - 1085 area and possibly
near 1087.
Sell stop at 1062 for
obj. near 1058 - 1056 area and possibly
near 1054.10 gap.
Sell stop at 1051.80
for obj. near 1047.40 gap and possibly
near 1044.
Sell stop at 1042 for
obj. near 1039.50 - 1036.50 area.
Sell stop at 1032.50
for obj. near 1028.50 gap area and
possibly near 1025.
Long-term short positions
can continue to remain short and use a
protective buy stop at 1153.
Results: 5/30/02
A
TECHNICAL GUIDE FOR DAY TRADING
THE S & P
S
& P - For Friday 05-31-02 :
NOTE: After
each support and resistance listed
will designate a value - (very
major) holds the highest importance,
then (major), (very significant),
and (significant) is the least of
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.
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:
1067 minor day channel and 1068.50
intra-day channel and peak (major
area) / 1070.30 day top and
1071.50 day channel (major
area) / 1075.30
day top and 1076 channel also
1076.60 day gap and 1077 GBX top (very
major area) /
1086.50 daily channel and 1086.50
day top also 1088.50 and 1090 GBX
tops (major area) /
1093 major
daily channel (very
major) / 1097
weekly channel also 1097 day channel
and day top (very
major area) /
1100.70 GBX top and 1102.50 weekly
top (major area) / 1105.20
weekly gap and 1106.70 GBX top also
1107 long-term primary day channel (very
major area).
Support:
1064.50 intra-day channel and
1064.60 is Oct. 31 monthly close (major
area) / 1058.20 intra-day
base (significant) / 1055
newly developed primary day channel
and 1054.30 bottom also 1054.20
weekly bottom and 1054.10 weekly gap
and 1053.40 GBX bottom (very
major area) /
1050.10 is Sept. 28 monthly close
also 1047.40 day gap and 1045.80
weekly bottom (major area)
/ 1043.70
monthly close on the monthly chart
(very
major area) /
1036.50 daily down channel and
weekly bottom (major area)
/ 1028.80
weekly bottom on the weekly chart
also 1028.50 day gap (very
major area).
Comments:
The rally from
the major support at the end of
Thursday's session proved the significance
but the closing price being down for
the third day in a row keeps the
chart in neutral to bearish
condition. A trade today above
the 1076 - 1077 area is slightly
bullish but only a trade above 1093
- 1097 area could bring any solid
bullishness back to the chart.
NOTE:
If
the market closes above 1077 on
Friday, it will put the weekly chart
in neutral to slightly bullish
territory for next week but a close
above 1090 will put the weekly chart
in solid bullish territory. A
close on Friday below 1064 will keep
the chart in bearish condition for
next week. Rallies should be
considered a selling opportunity
until the technical formation and
price structure can prove otherwise.
Day
trades: For the June
contract -
Aggressive traders can sell
rallies near 1070 - 1071 and if
possible near 1073 - 1074 area for
obj. near 1065 - 1064.50 area.
(Use a buy stop and rev. long at
1080). NOTE:
If
the market opens above
1068.50, very aggressive traders can
sell at market on open for obj. near
1065 - 1064.50 area.
Buy stop at 1080
for obj. near 1084 - 1086 area.
Buy stop at 1088.70
for obj. near 1091 - 1093 area.
Sell stop at
1062.50 for obj. near 1058.50 and
possibly near 1055.50.
Sell stop at
1051.50 for obj. near 1047.40 gap
area and possibly near 1045.80
bottom.
Sell stop at 1042
for obj. near 1038 - 1036.50 area
and possibly near 1033 - 1028.50 gap
area.
Long-term short positions can
continue to remain short and use a
protective buy stop at 1143.
Bulletin - Originally sent 5/31/02 (12:58 pm eastern time) The buy stop at 1080 was hit triggering long positions. At this time, the chart formation is showing resistance at the 1080 level, by having a minor sell off. Since the market is still in neutral to bearish condition, it is recommended to exit the long position taken at 1080 and cut losses.
Aggressive traders can attempt short positions again but must use
a protective buy stop above 1086 1/2. The obj. for
short positions still remain near 1065 - 1064 1/2.
Bulletin
- Originally sent 5/31/02 (3:02 pm eastern
time)
The sell-off from the resistance area came as expected for all short positions to now consider taking profits. The obj. was at 1065 - 1064 1/2 but the sell off being as steep as it is, profits can be taken at this time.
The market is now trading at 1068.50.
Bulletin
- Originally sent 5/31/02 (3:57 pm eastern
time)
This bulletin is to notify all day traders
that the S & P day session closes at
4:05 est. because of the last day of the
month rule. This rule will be in
effect until further notice. All day
positions must be out of the trade before
4:05 est.
Results:
5/31/02 * 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:
6/03/02 * 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 6/04/02 (3:46 pm edt)
The double
bottom at 1030.50 - 1030.80 completes the
trade for the sell at 1032. Results:
6/04/02 *
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:
6/05/02 *
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 6/06/02 (11:20 am eastern
time)
The extreme sell-off today hit the 1035.50
sell-stop, where short positions were
taken. The market did not hit the
obj. of 1031.50 as of this time, but
because of the extreme sell-off the market
can begin to develop support and therefore
the trade is becoming very risky. It
is recommended for short positions to exit
at the 1035.50 or better area to prevent
any possible loss.
Results:
6/06/02 *
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 6/07/02 (1:19 pm eastern
time)
The market rallied up to 1026 which is considered the
area of sell for the second aggressive trade mentioned in the
report. At this time, the trade is considered complete
meeting the obj. at 1022. Attempts to repeat this trade is a
high risk and should be avoided.
Rallies up near the 1035 - 1039 area should be considered the next
selling area. (Use a protective buy stop at 1044. Do
not rev. long).
Bulletin -
Originally sent 6/07/02 (2:42 pm eastern
time)
The rally seen
in the S & P at 1033.80 is considered near
enough to the 1035 sell area for the short
position to be taken. The obj. is to
exit near the 1027 - 1025 area or market on
close. (Use a protective buy stop at
1044. Do not rev. long).
Results:
6/07/02 * 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:
6/10/02 * 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 6/11/02 (9:45 am est)
The market triggered the sell in the first trade
at 1037.50 - 1039.50 area. The sell-off down to the 1034.75 seemed to
have shown support and therefore completed the first trade. All short
positions at this time should exit and take profits and wait for the next
trade.
Results:
6/11/02 thetechguru.com
* 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:
6/12/02 *
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:
6/13/02 *
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 6/14/02 (10:20 am est)
The market sold off hitting the sell stop
at 989 and meeting the obj. at 983 area completing the trade.
The sell stop at 979 was not reached by the big contract.
Unfortunately, traders using the report for the E-mini was hit at the
979 area. The 990 - 992 is now resistance for the E-mini
traders to sell and average out the trade and exit both short
positions at the average price of 984 1/2 and cut losses. Anyone
wishing further advice can call The Tech Guru.
Bulletin - Originally
sent 6/14/02 (10:34 am est)
Traders at this time should be flat on
the market. Anyone holding short positions should not risk the
trade above 1002. Short positions can be attempted but are
very risky because of the rallies seen from the 1080 area. Very
aggressive traders attempting short positions at this time
should use a protective buy stop at 1002.50.
Bulletin - Originally
sent 6/14/02 (12:17 pm est)
The rally up to the 1004.50 sell area
came to play putting traders into the short position. the
market proceeded to go down, meeting the obj. at 1001 to complete
the trade. At this time, the market remains in neutral to
bearish condition and short positions should not be attempted until
rallies near the 1017 - 1021 area come to play.
Aggressive traders can sell rallies near 1017 -
1021 for obj. near 1010 - 1008 area. (Use a protective buy
stop at 1026. Do not rev. long).
Results:
6/14/02 * 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 6/17/02 (12:47 pm est)
The market continues to move above the 1132
resistance area, appearing to have enough of strength to hit the 1035.70
buy stop area. The chart formation at this time seems slightly top
heavy and therefore we are withdrawing the 1035.70 buy stop to reverse
long. Short positions can continue to use a protective buy stop at
1035.70, but do not rev. long.
Bulletin -
Originally sent 6/21/02 (3:22 pm est)
The sell-off seen from the 998 double top area brought
the market down near the 989 sell-stop. Because of the sharp sell
off, it is not worthy to attempt the sell stop at 989 at this time.
Traders should cancel this trade and wait for new numbers in the next
report on Monday.
Results:
6/17/02 |