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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 - 01/05/04 - 01/09/04
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 1-05-04 :  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 intra-day channel and 1109.70 peak (major area) / 1113.20, 1113.80 and 1114.10 peak area also 1115.60 new long-term major weekly channel (very major area) / 1117.40 major weekly channel and 1117.50 peak also 1118 day top and 1120.20 daily upper channel (very major area) / 1121.70 new long-term weekly upper channel also 1122 weekly top (major area) / 1126 March's weekly top and 1126.70 weekly chart's closing gap also 1127.50 monthly upper channel and 1128 GBX weekly top (very major area) / 1137 and 1139 day tops (major area) / 1143.50 minor weekly upper channel (very major area) / 1149.20 monthly closing price and 1149.90 monthly top also 1153.70 major monthly upper channel and the major 50% retracement area (very major area). 
 
Support:  For the March contract -
1107 intra-day channel and 1106.50 major day channel also 1105.50 GBX channel and 1105 minor day channel (very major area) / 1103.50 day bottom and 1103.40 weekly channel (major area) / 1098.70 minor day channel and 1097.30 weekly bottom (major area) / 1093.50 weekly closing gap and 1093 GBX bottom also 1092.50 day bottom (major area) / 1090.20 day bottom and 1089.90 day bottom also 1088.40 minor weekly channel (major area) / 1085.40 weekly closing price and 1084.50 weekly bottom (major area) / 1082.40 major day channel and 1082.30 long-term major monthly channel also 1080.50 GBX weekly bottom (very major area) / 1078.40 minor weekly channel and 1076.70 weekly bottom (major area) / 1075.60 GBX weekly bottom and 1075.60 minor monthly channel also 1075.30 long-term weekly channel (very major area) / 1073.20 monthly channel and 1071.10 long-term major day channel (very major area) / 1068.50 monthly channel and 1066.70 weekly bottom also 1065.60 GBX weekly bottom (major area).
 
Comments:
    The whiplashing action on Friday remained inside the neutral trading area but managed to close the week up for the sixth week in a row leaving the chart in neutral to bullish condition.  NOTE:  The resistance at this time still remains significant enough to stimulate retracement down near the 1098.70 support area and possibly near the 1082.30 major support.  Only a trade below 1082.30 can bring any solid bearishness back to the chart.  A trade above the 1115.60 and 1118 area is bullish.  A trade above 1126.70 - 1128 area can bring prices up to challenge the 1139 - 1143.50 area and possibly near the 1153.70 major 50% retracement area, which is also the monthly channel resistance.  Remain defensive inside the 1115.60 - 1105 trading area until a breakout to either side is established.
                                               
Day trades:  For The March contract -
 
Aggressive traders can buy dips near 1107 - 1105.50 for obj. near 1109 - 1111 area and possibly near 1113.  (Use a sell stop and rev. short at 1103).
 
Aggressive traders can sell rallies near 1113 - 1115.60 area and if possible near 1117 for obj. near 1110 - 1109 area and possibly 1107.  (Use a buy stop and rev. long at 1118.70).
 
Buy stop at 1118.70 for obj. near 1120.20 - 1122 area.
Buy stop at 1123.50 for obj. near 1125.50 - 1127.50 area.
 
Sell stop at 1103 for obj. near 1100 - 1098.70 area.
Sell stop at 1095.70 for obj. near 1093.70 - 1092.50 area.
 

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

 

Bulletin - Originally sent 01/05/04 (11:35 am est)
 
Short positions were taken on the opening at 1114 and again on the rally at 1117.  The sell off down to 1112.90 is considered an intra-day double bottom to this mornings low. 
 
It is recommended for traders to exit the short positions near 1113.50 - 1114 area.  This will put both trades in a profit for the day.

Bulletin - Originally sent 01/05/04 (11:56 am est)

 
The short positions that were taken at 1114 and 1117 were completed with a buy at 1113.70. 
 
Bulletin - Originally sent 01/05/04 (3:38 pm est)
 
The buy stop was hit at 1118.70 putting traders into long positions.  The rally up to 1120 is near enough to the 1120.20 obj. and completes the trade.

Results:    01/05/04

Sold @ 1114 Bought @ 1113.70 = + $    75.00
Sold @ 1117 Bought @ 1113.70 = + $   825.00
Bought @ 1118.70 Sold @ 1120   = + $   325.00
TOTAL (P & L)    + $1,225.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 1-06-04 :  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 -
1121.50 day top and 1121.70 long-term weekly upper channel also 1122 weekly top (major area) / 1126 March's weekly top and 1126.70 weekly chart's closing gap also 1127.50 monthly upper channel and 1128 GBX weekly top (very major area) / 1137.50 and 1139 day tops (major area) / 1143.50 minor weekly upper channel (very major area) / 1149.20 monthly closing price and 1149.90 monthly top also 1151 March's weekly top and 1153.70 major monthly upper channel and 1153.70 also the major 50% retracement area (very major area) / 1162.50 and 1163.50 day tops (major area) / 1169 weekly top (major area) / 1177 monthly top and 1178.50 monthly top also 1180 weekly closing gap in the March contract (very major area).
 
Support:  For the March contract -
1118 intra-day channel and 1118 rev. peak (major area) / 1115.60 base and 1113.70 day channel with GBX prices (major area) / 1112 day bottom (major) / 1109.60 major day channel and 1108.90 weekly closing gap and minor day channel also 1108 GBX channel (very major area) / 1106.60 minor day channel (very major area) / 1103.50 day bottom and 1103.40 weekly channel also 1101.10 minor day channel (major area) / 1097.30 weekly bottom (major) / 1093.50 weekly closing gap and 1093 GBX bottom also 1092.50 day bottom (major area) / 1090.20 day bottom and 1089.90 day bottom also 1088.40 minor weekly channel (major area) / 1085.40 weekly closing price and 1085.10 minor day channel also 1084.50 weekly bottom (major area) / 1082.30 long-term major monthly channel also 1080.50 GBX bottom (very major area) / 1078.40 minor weekly channel and 1076.70 weekly bottom (major area) / 1075.60 GBX weekly bottom and 1075.60 minor weekly channel also 1075.30 long-term weekly channel (very major area) / 1073.20 monthly channel and 1072.40 long-term major day channel (very major area).
 
Comments:
    The rally on Monday proved the bullishness in the chart but the market still faces the 1126 - 1128 resistance area.  A trade above 1128 can bring prices up to challenge the 1143.50 and 1153.70 major areas.  A trade today below 1109.60 - 1108.70 area is slightly bearish but only a trade below 1103.50 - 1101 can put any significant bearishness into the chart.  NOTE:  Only a trade below 1072.40 can possibly reverse the trend to the downside.  Remain defensive inside the first trading area between 1121.70 and 1109.60 and also between the major trading range between 1126.70 and 1101.   
                                               
Day trades:  For The March contract -
 
Aggressive traders can buy dips near 1113.70 and if possible near 1109.60 for obj. near 1115 - 1117 area.  (Use a sell stop and rev. short at 1111.70).
 
Aggressive traders can sell rallies near 1121.70 - 1122 area for  obj. near 1115 - 1113.70 area.  (Use a buy stop and rev. long at 1124.70).
 
Aggressive traders can sell rallies near 1126.70 - 1128 area for obj. near 1124 - 1122 area.  (Use a buy stop and rev. long at 1131).
 
Aggressive traders can buy dips near 1103.50 - 1101 area for obj. near 1106 - 1107.50 area.  (Use a sell stop and rev. short at 1099).
 
Sell stop at 1111.70 for obj. near 1110 - 1109.60
Sell stop at 1105 for obj. near 1103.50 - 1101 area.
Sell stop at 1099 for obj. near 1097 - 1094 area.
 
Buy stop at 1124.70 for obj. near 1126 - 1128 area.
Buy stop at 1131 for obj. near 1135 - 1137 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 01/06/04 (11:49 am est)

 
The rally up to 1121 is near enough to the 1121.50 sell area, putting traders into short positions.  The sell off down to 1118.50 is showing signs of technical support on the intra-day chart that could prevent the 1115 obj. from being met. 
 
It is recommended to take profits and exit near 1119 where it is at this time.

Results:    01/06/04

Sold @ 1121 Bought @ 1119   = + $   500.00    
TOTAL (P & L)    + $   500.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 1-07-04 :  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 -
1123.40 day top (major) / 1125.30 minor upper channel also 1126 March's weekly top and 1126.70 weekly charts closing gap also 1127.50 monthly upper channel and 1128 GBX weekly top (very major area) / 1137.50 and 1139 day tops (major area) / 1143.50 minor weekly upper channel (very major area) / 1149.20 monthly closing price and 1149.90 monthly top also 1151 March's weekly top and 1153.70 major monthly upper channel and 1153.70 also the major 50% retracement area (very major area) / 1162.50 and 1163.50 day tops (major area) / 1169 weekly top (major area) / 1177 monthly top and 1178.50 monthly top also 1180 weekly closing gap in the March contract (very major area).
 
Support:  For the March contract -
1121.20 base and 1120.30 intra-day channel (major area) / 1119 base and 1118.80 day channel with GBX prices also 1118.20 and 1118 base (major area) / 1117 day bottom and 1115.80 GBX bottom also 1115.60 and 1115 base (major area) / 1112.60 major day channel and 1112 day bottom also 1111.40 minor day channel (very major area) / 1110.50 GBX channel and 1109.90 weekly channel also 1108.90 weekly closing gap and 1108.20 minor day channel (major area) / 1105.50 minor weekly channel with GBX prices and 1103.50 day bottom and 1103.40 weekly channel (major area) / 1097.30 weekly bottom (major) / 1093.50 weekly closing gap and 1093 GBX bottom also 1092.50 day bottom (major area) / 1090.20 day bottom and 1089.90 day bottom also 1088.40 minor weekly channel (major area) / 1086.90 minor day channel and 1085.40 weekly closing price also 1084.50 weekly bottom (major area) / 1082.30 long-term major monthly channel also 1080.50 GBX bottom (very major area) / 1078.80 minor weekly channel and 1076.70 weekly bottom (major area) / 1075.60 GBX weekly bottom and 1075.60 minor weekly channel also 1075.30 long-term weekly channel (very major area) / 1073.80 long-term major day channel and 1073.20 monthly channel also 1073.10 day channel (very major area).
 
Comments:
    Tuesday's trading session remained inside the neutral area but closing slightly higher, which keeps the chart in neutral to bullish condition.  A trade above 1026 - 1028 area can bring prices up to challenge the 1043.50 resistance and possibly near the 1053.70 resistance.  A trade today below 1118.80 - 1118 area is slightly bearish but a trade below the 1112.60 and 1109.60 areas can bring prices down to challenge the 1103.50 - 1103.40 major support.  NOTE:  At this time only a trade below the 1075.60 - 1073.80 area can bring any solid bearishness back to the chart.  Remain defensive inside the major trading area between the 1126 - 1128 resistance area and the 1103.50 - 1103.40 support area and also inside the first trading area between 1123.40 - 1118.80 area.
                                                   
Day trades:  For The March contract -
 
Aggressive traders can buy dips near 1119 - 1118.80 area for obj. near 1122.50 - 1123.40 area.  (Use a sell stop and rev. short at 1114.70).
 
Aggressive traders can sell rallies near 1126 - 1128 area for obj. near 1123 - 1121 area.  (Use a buy stop and rev. long at 1131.50).
 
Sell stop at 1114.70 for obj. near 1112.60 - 1111.40 area.
Sell stop at 1107 for obj. near 1105.50 - 1103.40 area.
Sell stop at 1099 for obj. near 1097.60 - 1093 area.
 
Buy stop at 1131.50 for obj. near 1135 - 1137 area.
Buy stop at 1140 for obj. near 1142 - 1143.50 area.
Buy stop at 1146.50 for obj. near 1149 - 1153.70 area.
 

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

Bulletin - Originally sent 01/07/04 (12:24 pm est)

 
Long positions were taken at 1118.50.  The rally up to 1122.50 meets the obj. and completes the trade.

Results:    01/07/04

Bought @ 1118.50 Sold @ 1122.50 = + $1,000.00
Bought @ 1119 Sold @ 1123 = + $1,000.00
Sold @ 1126.50 Bought @ 1125.60   = + $   225.00
TOTAL (P & L)    + $2,225.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 1-08-04 :  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 -
1126.50 day top and 1126.70 weekly charts closing gap also 1127.50 monthly upper channel and 1128 GBX weekly top (very major area) / 1132 daily upper channel (major) / 1137.50 and 1139 day tops (major area) / 1143.50 minor weekly upper channel (very major area) / 1149.20 monthly closing price and 1149.90 monthly top also 1151 March's weekly top and 1153.70 major monthly upper channel and 1153.70 also the major 50% retracement area (very major area) / 1162.50 and 1163.50 day tops (major area) / 1169 weekly top (major area) / 1177 monthly top and 1178.50 monthly top also 1180 weekly closing gap in the March contract (very major area).
 
Support:  For the March contract -
1123.50 rev. peak and 1122.20 rev. peak (major area) / 1120.70 and 1120.10 intra-day channels also 1119.60 and 1118.80 bases also 1118.80 day channel (very major area) / 1115.60 major day channel and 1115 day bottom also 1114 minor day channel (very major area) / 1113 GBX channel and 1112 day bottom (major area) / 1109.90 weekly channel and 1109.70 minor day channel also 1108.90 weekly closing gap (major area) / 1105.50 minor weekly channel with GBX prices also 1103.50 day bottom and 1103.40 weekly channel (very major area) / 1097.30 weekly bottom (major) / 1093.50 weekly closing gap and 1093 GBX bottom also 1092.50 day bottom (major area) / 1090.20 day bottom and 1089.90 day bottom also 1088.60 day channel and 1088.40 minor weekly channel (major area) / 1085.40 weekly closing price and 1084.50 weekly bottom (major area) / 1082.30 long-term major monthly channel also 1080.50 GBX bottom (very major area) / 1075.60 GBX weekly bottom and 1075.10 long-term major day channel also 1075.30 long-term weekly channel (very major area).
 
Comments:
    The follow through rally on Wednesday from the support area did materialize as expected bringing prices up to challenge the 1126.70 - 1128 resistance and now also the newly developed upper channel line at 1132.  A trade above 1132 can bring prices up to challenge the 1137 - 1139 top areas and possibly near 1143.50.  A trade above 1143.50 can bring prices up to challenge the 1153.70 major 50% retracement area.  A trade today below 1115.60 - 1114 area is slightly bearish but only a trade below 1103.50 - 1103.40 area can bring any bearishness back to the chart.  Remain defensive inside the first trading area between 1126.70 and 1118.80 and also the major trading area between 1132 and 1115.60.
                                                       
Day trades:  For The March contract -
 
Aggressive traders can sell rallies near 1132 area for obj. near 1129 - 1128 area.  (Use a buy stop and rev. long at 1133.30).
 
Aggressive traders can buy dips near 1120 - 1118.60 area for obj. near 1126 - 1128 area.  (Use a sell stop and rev. short at 1117.70).
 
Aggressive traders can buy dips near 1115.60 - 1112 area for obj. near 1118 - 1120 area.  (Use a sell stop and rev. short at 1107).
 
Sell stop at 1117.70 for obj. near 1115.60 and possibly near 1114 - 1112 area.
Sell stop at 1107 for obj. near 1104 - 1103.40 area.
Sell stop at 1100 for obj. near 1097 - 1093 area.
 
Buy stop at 1133.30 for obj. near 1135.30 - 1137 area and possibly near 1139.
Buy stop at 1140 for obj. near 1142 - 1143.50 area.
Buy stop at 1146.50 for obj. near 1149 - 1153.70 area.
 

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

Bulletin - Originally sent 01/08/04 (9:31 am est)

 
The rally in the GBX session brought prices up to 1130.50 that can prove to be near enough to the 1132 resistance for some retracements to the downside. 
 
Aggressive traders can attempt short positions near 1128 - 1130 area and if possible near 1132.  The obj. is near 1120 - 1118.60 area.  (Continue to use a buy stop and rev. long at 1133.30).

Bulletin - Originally sent 01/08/04 (10:29 am est)

 
Short positions were taken on the opening at 1128.70.  The sell off down to 1123.80 is showing signs of support where profits should be considered.
 
Exit short positions at the market, which is trading at 1124 at this time.

Results:    01/08/04

Sold @ 1128.70 Bought @ 1124   = + $1,175.00    
TOTAL (P & L)    + $1,175.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 1-09-04 :  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 -
1130.30 day top and 1130.40 GBX top (major) / 1132.60 rev. channel and 1133.40 minor daily upper channel (major) / 1135.50 minor daily upper channel (major) / 1137.50 and 1139 day tops (major area) / 1143.50 minor weekly upper channel (very major area) / 1149.20 monthly closing price and 1149.90 monthly top also 1151 March's weekly top and 1153.70 major monthly upper channel and 1153.70 also the major 50% retracement area (very major area) / 1162.50 and 1163.50 day tops (major area) / 1169 weekly top (major area) / 1177 monthly top and 1178.50 monthly top also 1180 weekly closing gap in the March contract (very major area).
 
Support:  For the March contract -
1128 and 1127.40 base also 1126.90 and 1126.20 intra-day channels (major area) / 1125.20 and 1124.50 base also 1124.50 intra-day channel and 1123.80 day bottom (major area) / 1122.60 minor day channel (major) / 1118.70 major day channel and 1118 minor day channel also 1116.60 day channel with GBX prices (very major area) / 1115 day bottom (major) / 1112 day bottom and 1111.20 day channel (very major area) / 1109.90 weekly channel and 1108.90 weekly closing gap (very major area) / 1105.50 minor weekly channel with GBX prices also 1103.50 day bottom and 1103.40 weekly channel (very major area) / 1097.30 weekly bottom (major) / 1093.50 weekly closing gap and 1093 GBX bottom also 1092.50 day bottom (major area) / 1090.40 major day channel and 1090.20 day bottom also 1089.90 day bottom (very major area) / 1085.40 weekly closing price and 1084.50 weekly bottom (major area) / 1082.30 long-term major monthly channel also 1080 GBX bottom (very major area).
 
Comments:
    The follow through rally on Thursday managed to close up and higher every day this week keeping the chart in bullish condition.  A trade above 1132.60 and 1133.40 area can bring prices up to challenge the 1135.50 channel and 1137 - 1139 tops, and possibly near the 1143.50 major channel.  A trade above 1143.50 can bring prices up to challenge the long-term major 50% retracement area at 1153.70.  A trade today below 1118.70 is slightly bearish but only a trade below 1111.20 and 1109.90 can bring any solid bearishness back to the chart.  Remain defensive inside the first trading area between 1132.60 and 1123.80 area and also the wider weekly trading range between 1143.50 and 1111.20.
                                                           
Day trades:  For The March contract -
 
Aggressive traders can buy dips near 1124.50 - 1123.80 area for obj. near 1127.50 - 1129 area.  (Use a protective sell stop at 1121.  Do not rev. short).
 
Aggressive traders can buy dips near 1119 - 1116.60 area, if it gets there, for obj. near 1123 - 1125 area.  (Use a sell stop and rev. short at 1113.70).
 
Aggressive traders can sell rallies near 1132.60 - 1133.40 area for obj. near 1130.50 - 1129.50 area.  (Use a buy stop and rev. long at 1134.20).
 
Sell stop at 1113.70 for obj. near 1112 - 1111.20 area and possibly near 1109.90.
Sell stop at 1107.70 for obj. near 1105.50 - 1103.50 area.
 
Buy stop at 1134.20 for obj. near 1135.50 - 1137 area and possibly near 1139.
Buy stop at 1140 for obj. near 1142 - 1143.50 area.
Buy stop at 1145.50 for obj. near 1148.50 - 1149.20 area and possibly near 1151.
 

* 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 01/09/04 (10:10 am est)

 
Long positions were taken on the opening at 1124.  The rally up to 1127.50 meets the obj. and completes the trade.

Bulletin - Originally sent 01/09/04 (4:06 pm est)

 
Long positions were taken at 1119.50, which was near enough to the 1119 buy area.  The rally up to 1123 meets the obj. and completes the trade.

Results:    01/09/04

Bought @ 1124 Sold @ 1127.50   = + $   875.00    
Bought @ 1119.50 Sold @ 1123 = + $   875.00
TOTAL (P & L)    + $1,750.00
The week in review - 01/12/04 - 01/16/04
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 1-12-04 :  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 -
1121.50 intra-day channel and 1123 peak also 1123.70 intra-day channel (major area) / 1128 newly developed long-term major weekly channel and 1128.30 peak (very major area) / 1130.50 weekly top and 1131 major weekly channel (very major area) / 1134.40 weekly chart's top and 1134.50 weekly upper channel also 1135.70 weekly chart's top with GBX prices (major area) / 1137.50 day top and 1137.80 minor weekly upper channel also 1139 day top (major area) / 1141.80 and 1143 minor weekly upper channels also 1145.30 minor weekly upper channel (very major area) / 1149.20 monthly closing price and 1149.90 monthly top (major area) / 1153.70 major monthly upper channel and 1153.70 is also the major 50% retracement area (very major area) / 1157.40 minor weekly upper channel (major area) / 1162.50 and 1163.50 day tops (major area) / 1169 weekly top (major area) / 1177 monthly top and 1178.50 monthly top also 1180 weekly closing gap in the March contract (very major area).
 
Support:  For the March contract -
1119.50 minor day channel and 1119.20 day channel with GBX prices also 1119.10 weekly bottom and 1118 major GBX channel (very major area) / 1116 major weekly channel with GBX prices and 1115.80 GBX bottom (very major area) / 1115 day bottom and 1114.50 minor day channel without GBX prices (major area) / 1112.90 day channel without GBX prices and 1112 weekly bottom (major area) / 1110.50 minor day channel and 1108.90 weekly closing gap and 1108.60 GBX bottom (major area) / 1103.50 day bottom (major) / 1097.30 weekly channel with GBX prices and 1097.20 weekly bottom (very major area) / 1093.50 weekly closing gap and 1093 GBX bottom also 1092.50 day bottom and 1092.10 major day channel (very major area) / 1085.40 weekly closing gap and 1084.70 weekly channel without GBX prices also 1084.50 weekly bottom (major area) / 1082.30 long-term major monthly channel and 1082 day bottom also 1082 long-term major weekly channel (very major area) / 1080.50 GBX bottom and 1077.80 long-term major day channel (very major area) / 1075.60 minor monthly channel and 1073.20 monthly channel without GBX prices (very major area) / 1069.60 minor weekly channel and 1069.20 day channel also 1068.50 monthly channel with GBX prices (very major area).
 
Comments:
    The sell-off on Friday from the resistance area was significant but the market managed to hold above the support and closed up for the seventh Friday in a row.  This leaves the chart in neutral to bullish condition.  A trade above 1128 - 1131 area can bring prices up to challenge the 1153.70 major 50% retracement area.  A trade today below 1116 - 1114.50 area is slightly bearish but only a trade below 1102.10 and 1097.20 areas can bring any solid bearishness back to the chart.  Remain defensive inside the first trading area between 1123.70 and 1118 and also inside the wider range between 1128 and 1116.                    
                                          
Day trades:  For The March contract -
 
Aggressive traders can buy dips near 1119 - 1116 area for obj. near 1122 - 1123.70 area.  (Use a protective sell stop at 1114.  Do not rev. short).
 
Aggressive traders can buy dips near 1111 - 1109 area for obj. near 1114.50 - 1116 area.  (Use a sell stop and rev. short at 1107).
 
Aggressive traders can sell rallies near 1127 - 1130.50 area for obj. near 1124 - 1122 area.  (Use a buy stop and rev. long at 1132.20).
 
Sell stop at 1107 for obj. near 1104 - 1102.50 area.
Sell stop at 1101 for obj. near 1098.50 - 1097.30 area and possibly near 1093.
 
Buy stop at 1132.30 for obj. near 1134 - 1135.70 area.
Buy stop at 1139.50 for obj. near 1141.50 - 1143 area and possibly near 1145.
 

* 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 01/12/04 (9:28 am est)

 
Aggressive traders can sell rallies near 1122 - 1123.70 area for obj. near 1120 - 1119 area.  (Use a protective buy stop at 1124.70. do not rev. long).

Bulletin - Originally sent 01/12/04 (9:54 am est)

 
Short positions were taken at 1122.50.  The sell-off down to 1120.50 is near enough to the 1120 obj. and completes the trade.

Bulletin - Originally sent 01/12/04 (10:29 am est)

 
The sell off down to 1119.70 put traders into long positions.  The rally up to 1122 meets the obj. and completes the trade.

Bulletin - Originally sent 01/12/04 (3:04 pm est)

 
Due to the technical base formation that has developed today the sell at 1127 - 1130.50 is being cancelled. 
 
NOTE:  The buy stop at 1132.30 will be taken and will put traders into long positions.

Results:    01/12/04

Sold @ 1122.50 Bought @ 1120.50   = + $   500.00   
Bought @ 1119.70 Sold @ 1122 = + $   575.00
TOTAL (P & L)    + $1,075.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 1-13-04 :  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 -
1128.70 long-term weekly channel with GBX prices and 1130.50 weekly top also 1131 major weekly channel without GBX prices and 1131 GBX weekly top (very major area) / 1134.40 weekly chart's top and 1134.50 weekly upper channel also 1135.70 weekly chart's top with GBX prices (major area) / 1137.50 day top and 1137.80 minor weekly upper channel also 1139 day top (major area) / 1141.80 and 1143 minor weekly upper channels also 1145.30 minor weekly upper channel (very major area) / 1149.20 monthly closing price and 1149.90 monthly top (major area) / 1153.70 major monthly upper channel and 1153.70 is also the major 50% retracement area (very major area) / 1157.40 minor weekly upper channel (major area) / 1162.50 and 1163.50 day tops (major area) / 1169 weekly top (major area) / 1177 monthly top and 1178.50 monthly top also 1180 weekly closing gap in the March contract (very major area).
 
Support:  For the March contract -
1127.30 base and 1127 intra-day gap (major area) / 1125.40 intra-day channel and 1125.20 gap also 1124.50 major base (major area) / 1121.80 day channel with GBX prices and 1121 base also 1120.50 major GBX day channel and 1119.80 day bottom (very major area) / 1118.40 GBX bottom (major) / 1116.50 minor day channel without GBX prices and 1116 minor weekly channel with GBX prices also 1115 day bottom and 1114.50 day channel without GBX prices (very major area) / 1112.90 minor day channel and 1112 weekly bottom (major area) / 1108.90 weekly closing gap and 1108.60 GBX bottom (major area) / 1103.50 day bottom (major) / 1097.30 weekly channel with GBX prices and 1097.20 weekly bottom (very major area) / 1093.90 major day channel and 1093.50 weekly closing gap also 1093 GBX bottom and 1092.50 day bottom (very major area) / 1085.40 weekly closing gap and 1084.70 weekly channel without GBX prices also 1084.50 weekly bottom (major area) / 1082.30 long-term major monthly channel and 1082 day bottom also 1082 long-term major weekly channel (very major area).
 
Comments:
    The rally on Monday from the major support area keeps the chart back in neutral to bullish condition for possible higher prices to develop.  A trade above 1128.70 - 1131 resistance area can bring prices up to challenge near the 1153.70 major 50% retracement area.  A trade below 1121.80 - 1120.50 area is slightly bearish but only a trade below the 1116 and 1112.90 areas can bring any solid bearishness back to the chart.  Remain defensive inside the first trading area between 1128.70 and 1121.80 and also the wider area between 1131 and 1116.
   
Day trades:  For The March contract -
 
Aggressive traders can buy dips near 1125.50 - 1121.80 area or sell rallies near 1128.70 - 1130.50 area, whichever side comes first, to complete the trade.  (Use a sell stop and rev. short at 1119.50).  (Use a buy stop and rev. long at 1132.20). 
 
Buy stop at 1132.30 for obj. near 1134 - 1135.70 area and possibly near 1137.
Buy stop at 1139.50 for obj. near 1141.50 - 1143 area and possibly near 1145.
Buy stop at 1146.70 for obj. near 1148.70 - 1149.20 and possibly near 1153.70 area.
 
Sell stop at 1119.50 for obj. near 1116.50 - 1116 area.
Sell stop at 1111 for obj. near 1109 - 1108.60 area.
Sell stop at 1107 for obj. near 1104.50 - 1102.50 area.
 

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

Bulletin - Originally sent 01/13/04 (9:46 am est)

 
The rally up to 1128.40 put traders into short positions.  The obj. is near 1125.50 area.  (Continue to use a buy stop and rev. long at 1132.20).

Bulletin - Originally sent 01/13/04 (10:17 am est)

 
Short positions were taken at 1128.20.  The sell-off down to 1125.70 is near enough to the 1125.50 obj. and completes the trade.

Bulletin - Originally sent 01/13/04 (11:00 am est)

 
The sell-off down to 1123 put traders into long positions.

Bulletin - Originally sent 01/13/04 (11:45 am est)

 
Long positions will be added at the 1120.50 area due to the fact that the sell stop is at 1119.50 making it a low risk trade.

Bulletin - Originally sent 01/13/04 (12:03 pm est)

 
The sell stop was hit at 1119.50, putting traders into short positions.  The sell-off down to 1116.50 meets the obj. and completes the trade.
 
Aggressive traders can consider long positions near this 1116 which is the major support area.  (Continue to use a sell stop and rev. short at 1111).  The obj. for this long position taken at 1116 is near 1120 - 1122 area.

Bulletin - Originally sent 01/13/04 (12:04 pm est)

 
Long positions were taken at 1114.50, which is where the market is trading at this time.

Bulletin - Originally sent 01/13/04 (12:40 pm est)

 
Long positions were taken at 1116 and at 1114.50.  The rally up to 1118.80 is showing signs of resistance. 
 
It is recommended to exit long positions near 1118, which is where it's trading at this time, and take profits.

Results:    01/13/04

Sold @ 1128.20 Bought @ 1125.70   = + $   625.00   
Bought @ 1123 Sold @ 1119.50 = -  $   875.00
Bought @ 1120.50 Sold @ 1119.50 = -  $   250.00     bought @ 1120.50 as per bulletin
Sold @ 1119.50 Bought @ 1116.50 = + $   750.00
Bought @ 1116 Sold @ 1118.50 = + $   625.00     sold @ 1118.50 as per bulletin
Bought @ 1114.50 Sold @ 1118.80 = + $1,000.00
TOTAL (P & L)    + $1,875.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 1-14-04 :  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 -
1124 peak (major) / 1127 intra-day channel and 1127.20 minor day channel without GBX prices also 1128 GBX channel and 1128.30 day top and 1129 GBX top (very major area) / 1130.50 day top and 1131 GBX top (major area) / 1134.40 weekly chart's top and 1134.50 weekly upper channel (major area) / 1135.70 weekly chart's top with GBX prices (major area) / 1137.50 day top and 1137.80 minor weekly upper channel also 1139 day top (major area) / 1141.80 and 1143 minor weekly upper channels also 1145.30 minor weekly upper channel (very major area) / 1149.20 monthly closing price and 1149.90 monthly top (major area) / 1153.70 major monthly upper channel and 1153.70 is also the major 50% retracement area (very major area) / 1157.40 minor weekly upper channel (major area) / 1162.50 and 1163.50 day tops (major area) / 1169 weekly top (major area) / 1177 monthly top and 1178.50 monthly top also 1180 weekly closing gap in the March contract (very major area).
 
Support:  For the March contract -
1120.50 intra-day channel and 1120.30 base (major area) / 1117.60 base and 1116.30 newly developed day channel (very major area) / 1115.30 day channel and 1113.80 day bottom (major area) / 1112 day bottom (major) / 1108.90 weekly closing gap and 1108.60 GBX bottom (major area) / 1103.50 day bottom (major) / 1097.30 weekly channel with GBX prices and 1097.20 weekly bottom also 1095.60 major day channel (very major area) / 1093.50 weekly closing gap and 1093 GBX bottom also 1092.50 day bottom (major area) / 1085.40 weekly closing gap and 1084.70 weekly channel without GBX prices also 1084.50 weekly bottom (major area) / 1082.30 long-term major monthly channel and 1082 day bottom also 1082 long-term major weekly channel (very major area).
 
Comments:
    The sell-off on Tuesday from the major resistance area was significant but prices managed to hold above the major support, mentioned in yesterday's report, at 1112.90 leaving the chart neutral for prices to swing either way.  A trade above the 1127 - 1128 area is slightly bullish but a trade above 1131 can bring prices up to challenge near the 1153.70 major 50% retracement area.  A trade below 1116.30 and 1115.30 areas will be slightly bearish and can bring prices down to challenge the 1103.50 bottom and possibly near the 1197.30 - 1193 gap area.  Remain defensive inside the first trading area between 1124 - 1120.50 and also between the wider range between the 1127 - 1128 resistance and the 1116.30 - 1115.30 support.
   
Day trades:  For The March contract -
 
Aggressive traders can sell rallies near 1123.50 - 1124 area or buy dips near 1121 - 1120.30, whichever side comes first, to complete the trade.  (Use a buy stop and rev. long at 1125).  (Use a sell stop and rev. short at 1119.30).
 
Buy stop at 1125 for obj. near 1127 - 1128 area.
Buy stop at 1132.30 for obj. near 1134.30 - 1135.70 area.
Buy stop at 1139.50 for obj. near 1141.50 - 1143 area and possibly near 1145.
 
Sell stop at 1119.30 for obj. near 1117.30 - 1116.30 area.
Sell stop at 1111 for obj. near 1109 - 1108.60 area.
Sell stop at 1107 for obj. near 1104.50 - 1102.50 area.
 

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

Bulletin - Originally sent 01/14/04 (10:18 am est)

 
The buy stop at 1125 was hit putting traders into long positions. 
 
The market is showing signs of resistance at 1126 at this time.  It is recommended to exit long positions near 1125.50 and scratch the trade, and take small profits.

Bulletin - Originally sent 01/14/04 (10:51 am est)

 
The resistance continues to build at the 1125 - 1126 area, where short positions can be considered.
 
Aggressive traders can sell near 1125 - 1125.50 area for an obj. near 1121.50 - 1120.60.  (Use a protective buy stop at 1129.  Do not rev. long).

Bulletin - Originally sent 01/14/04 (12:36 pm est)

 
Short positions were taken at 1125.50.  The sell-off down to 1123.10 is now considered an intra-day double bottom and can hold as support.
 
It is recommended for traders to exit short positions at the market, which is trading at 1123.80 at this time, and take profits.

Results:    01/14/04

Sold @ 1124 Bought @ 1125 = -  $   250.00
Bought @ 1125 Sold @ 1125.50 = + $   125.00
Sold @ 1125.50 Bought @ 1123.80 = + $   425.00
Bought @ 1132.30 Sold @ 1131.30   = -  $   250.00
TOTAL (P & L)    + $    50.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 1-15-04 :  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 -
1132.30 day top and 1132.70 minor upper channel with GBX prices (major) / 1133.80 new minor upper channel also 1134.40 weekly chart's top and 1134.50 weekly upper channel (major area) / 1135.70 weekly chart's top with GBX prices (major area) / 1137.50 day top and 1137.80 minor weekly upper channel also 1139 day top (major area) / 1141.80 and 1143 minor weekly upper channels also 1145.30 minor weekly upper channel (very major area) / 1149.20 monthly closing price and 1149.90 monthly top (major area) / 1153.70 major monthly upper channel and 1153.70 is also the major 50% retracement area (very major area) / 1157.40 minor weekly upper channel (major area) / 1162.50 and 1163.50 day tops (major area) / 1169 weekly top (major area) / 1177 monthly top and 1178.50 monthly top also 1180 weekly closing gap in the March contract (very major area).
 
Support:  For the March contract -
1128.60 intra-day channel also 1128.60 and 1128 base (major area) / 1126.50 base (major) / 1125 minor day channel and 1124.50 base also 1122.70 day bottom (very major area) / 1121.30 day gap also 1119.40 GBX bottom and 1118.90 major day channel (very major area) / 1116.70 minor day channel (major area) / 1113.80 day bottom and 1112 weekly bottom (major area) / 1108.90 weekly closing gap and 1108.60 GBX bottom (major area) / 1103.50 day bottom (major) / 1097.40 major day channel and 1097.30 weekly channel with GBX prices also 1097.20 weekly bottom (very major area) / 1093.50 weekly closing gap and 1093 GBX bottom also 1092.50 day bottom (major area) / 1085.40 weekly closing gap and 1084.70 weekly channel without GBX prices also 1084.50 weekly bottom (major area) / 1082.30 long-term major monthly channel and 1082 day bottom also 1082 long-term major weekly channel (very major area).
 
Comments:
    The rally on Wednesday from Tuesday's neutral condition managed to close at the highest level in 20 months, which is bullish.  The technical situation still remains defensive because of the various resistance areas that remain but overall if the major support levels hold then higher prices will come to play.  A trade today above 1132.70 - 1133.80 is bullish and will challenge the 1134.50 - 1135.70 area and possibly near 1137.80 - 1139 area.  A trade above 1143 - 1145.30 will challenge the 1153.70 major area.  A trade today below 1125 can challenge the 1118.90 support channel.  A trade below 1118.90 - 1116.70 area is bearish and can possibly stimulate selling for prices to challenge the 1103.50 - 1197.20 support area.  Remain defensive inside the first trading area between 1132.70 and 1125 and also inside the wider trading range between 1137.80 and 1118.90.
       
Day trades:  For The March contract -
 
Aggressive traders can sell rallies near 1132 - 1133.80 area for obj. near 1129 - 1127 area.  (Use a buy stop and rev. long at 1135).
 
Aggressive traders can buy dips near 1126 - 1125 area for obj. near 1129 - 1131 area.  (Use a sell stop and rev. short at 1124.30).
 
Aggressive traders can buy dips near 1118.90 and if possible near 1116.70 area for obj. near 1122 - 1124 area.  (Use a sell stop and rev. short at 1115).
 
Buy stop at 1135 for obj. near 1137 - 1137.80 area and possibly near 1139.
Buy stop at 1139.70 for obj. near 1141.50 - 1143 area and possibly near 1145.
 
Sell stop at 1124.30 for obj. near 1122 - 1121.30 day gap and possibly near 1118.90 major channel.
Sell stop at 1115 for obj. near 1112 - 1108.90 area.
Sell stop at 1107 for obj. near 1104.50 - 1103.50 area.
 

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

Bulletin - Originally sent 01/15/04 (9:51 am est)

 
Short positions were taken on the open at 1131.80.  The sell off down to 1129 meets the obj. and completes the trade.

Bulletin - Originally sent 01/15/04 (10:31 am est)

 
The sell stop at 1124.30 was hit putting traders into short positions.  1123 is showing signs of support that can take prices higher. 
 
It is recommended for traders to exit short positions near 1125.50 and cut losses.  It is also recommended for traders to enter long positions near 1125.50 for obj. near 1129 - 1131 area.  (Use a sell stop and rev. short at 1121.90).

Bulletin - Originally sent 01/15/04 (11:42 am est)

 
Long positions were taken at 1125.50.  The rally up to 1129 meets the obj. and completes the trade.

Bulletin - Originally sent 01/15/04 (11:42 am est)

 
The buy stop was hit at 1135 putting traders into long positions.  The rally up to 1136.50 was near enough to the 1137 obj. and completes the trade.
 
Traders who missed the sell area should exit at the market and scratch the trade.  There is too much resistance at this time.

Results:    01/15/04

Sold @ 1131.80 Bought @ 1129 = + $   700.00
Bought @ 1125.50 Sold @ 1124.30 = -  $   300.00   
Sold @ 1124.30 Bought @ 1125.50 = -  $   300.00     bought as per bulletin
Bought @ 1125.50 Sold @ 1129 = + $   875.00     bought as per bulletin
Bought @ 1135 Sold @ 1136.30   = + $   325.00
TOTAL (P & L)    + $1,300.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 1-16-04 :  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 -
1136 newly developed long-term day channel and 1136.30 day top also 1137.50 minor upper channel and 1137.80 minor weekly upper channel (major area) / 1139 day top (major) / 1141.80 and 1143 minor weekly upper channels (very major area) / 1145.30 minor weekly upper channel (very major area) / 1149.20 monthly closing price and 1149.90 monthly top (major area) / 1153.70 major monthly upper channel and 1153.70 is also the major 50% retracement area (very major area) / 1157.40 minor weekly upper channel (major area) / 1162.50 and 1163.50 day tops (major area) / 1169 weekly top (major area) / 1177 monthly top and 1178.50 monthly top also 1180 weekly closing gap in the March contract (very major area).
 
Support:  For the March contract -
1130.80 and 1129.80 intra-day channels also 1129.80 base (major area) / 1128.50 base and 1127.60 minor day channel (major area) / 1123 and 1122.70 day bottoms also 1121.50 major day channel and 1121.30 day gap (very major area) / 1119.40 GBX bottom and 1118.20 minor day channel (major area) / 1113.80 day bottom and 1112 weekly bottom (major area) / 1108.90 weekly closing gap and 1108.60 GBX bottom (major area) / 1103.50 day bottom (major) / 1099.10 major day channel and 1097.30 weekly channel with GBX prices also 1097.20 weekly bottom (very major area) / 1093.50 weekly closing gap and 1093 GBX bottom also 1092.50 day bottom (major area).
 
Comments:
    The whiplashing rally on Thursday from the support area proves the bullishness still remains.  The market continues to face various resistance levels but as long as the market can hold the major support areas then higher prices will develop.  A trade today above the 1137.50 - 1137.80 area is bullish for prices to challenge the 1139 top and 1141 - 1143 channels.  A trade above 1145.30 channel can bring prices up to challenge the 1149.20 - 1149.90 area and possibly near the 1153.70 major retracement area, which was mentioned several times as a major objective area.  A trade today below 1121.50 and 1118.20 area is slightly bearish but only a trade below 1099.10 and 1097.30 areas can bring any solid bearishness back to the chart.  Remain defensive inside the first trading area between 1137.50 - 1127.60 area and also the wider trading area between 1143 and 1118.20 area.
           
Day trades:  For The March contract -
 
Aggressive traders can sell rallies near 1136 - 1137.80 area for obj. near 1134 - 1133 area.  (Use a buy stop and rev. long at 1139.70).
 
Aggressive traders can buy dips near 1129.80 and 1127.60 area for obj. near 1132 - 1134 area.  (Use a sell stop and rev. short at 1125).
 
Buy stop at 1139.70 for obj. near 1141.80 - 1143 area.
Buy stop at 1146.70 for obj. near 1149.20 - 1149.90 area and possibly near 1153.70 area.
 
Sell stop at 1125 for obj. near 1122 - 1121.50 area and possibly near 1118.20 area.
Sell stop at 1116.20 for obj. near 1114.20 - 1113.80 area.
Sell stop at 1111 for obj. near 1109 - 1108.60 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 01/16/04 (9:37 am est)

 
Short positions were taken on the opening at 1136.20.  The sell off down to 1134.30 meets the obj. and completes the trade.

Bulletin - Originally sent 01/16/04 (10:04 am est

 
Short positions were taken at the high end of the resistance at 1137.50.  The sell off down to 1133 meets the obj. and completes the trade again.  This trade was taken for the second time and will not be repeated again.

Results:    01/16/04

Sold @ 1136.20 Bought @ 1134.30   = + $   475.00   
Sold @ 1137.50 Bought @ 1133.10 = + $1,100.00
TOTAL (P & L)    + $1,575.00
The week in review - 01/20/04 - 1/23/04
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 1-20-04 :  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 -
1138.80 weekly top (major) / 1142.10 GBX upper day channel and 1142.90 newly developed long-term major weekly upper channel (very major area) / 1143.80 minor daily upper channel (very major area) / 1149.20 monthly closing price and 1149.90 monthly top (major area) / 1153.10 minor weekly upper channel also 1153.70 major monthly upper channel and 1153.70 is also the major 50% retracement area (very major area) / 1155.50 minor weekly upper channel (major area) / 1158.90 minor weekly upper channel (very major area) / 1162.50 and 1163.50 day tops (major area) / 1169 weekly top and 1171.30 minor weekly upper channel (major area) / 1177 monthly top and also 1178.50 monthly top also 1180 weekly closing gap in the March contract (very major area) / 1187.50 weekly closing price and 1189.50 weekly top (very major area).
 
Support:  For the March contract -
1136.80 day channel also 1136.50 and 1136.20 intra-day channels also 1135.50 GBX (major area) / 1133.80 day channel with GBX prices and 1132 day bottom (major area) / 1126.70 major day channel and 1126 major weekly channel (very major area) / 1122.10 minor weekly channel and 1121.30 day gap also 1121.10 day channel and 1119.40 GBX bottom (major area) / 1113.80 weekly bottom and 1112 day bottom (major area) / 1108.90 weekly closing gap and 1108.60 GBX bottom (major area) / 1106 weekly channel with GBX prices (very major area) / 1103.50 day bottom and 1102.60 long-term major day channel (very major area) / 1097.20 weekly bottom (major area) / 1093.50 weekly closing gap and 1093 GBX weekly bottom also 1092.50 day bottom (very major area).
 
Comments:
    The whiplashing and rally on Friday managed to close up for the eighth week in a row and is also the highest weekly closing price in 94 weeks, which leaves the chart in bullish condition.  A trade above the 1142.10 - 1143.80 major resistance can bring prices up to challenge the 1149.20 - 1149.90 monthly top and possibly near the major 50 % retracement at 1153.70 area.  A trade above the 1158.90 channel area can bring prices up to possibly challenge the 1177 major double top area.  A trade today below the 1136.80 and 1133.80 support areas is slightly bearish but only a trade below 1122.10 - 1121.10 area can bring any solid bearishness back to the chart.  Only a trade this week below 1106 can possibly prove to be the first signal for a change in the major trend to the downside.  Remain defensive inside the major weekly trading range between 1158.90 and 1122.10 and also inside the first narrow trading area today between 1142.90 - 1143.80 resistance and 1136.80 - 1133.80 support. 
               
Day trades:  For The March contract -
 
Aggressive traders can sell rallies near 1141 - 1143.80 area or buy dips near 1136.80 - 1133.80 area, whichever side comes first, to complete the trade.  (Use a buy stop and rev. long at 1144.70).  (Use a sell stop and rev. short at 1131.70). 
 
Aggressive traders can buy dips near 1122.10 - 1121.10 area for obj. near 1126 - 1128 area.  (Use a sell stop and rev. short at 1117.80).
 
Sell stop at 1131.70 for obj. near 1128 - 1126 area and possibly near the 1122.10 major support area.
Sell stop at 1117.80 for obj. near 1113.80 - 1108.90 gap area.
 
Buy stop at 1144.70 for obj. near 1149 - 1149.90 area and possibly near 1153.70.
Buy stop at 1160 for obj. near 1162 - 1163.50 area.
Buy stop at 1164.70 for obj. near 1167 - 1169 area and possibly near 1171.
 

* 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 01/20/04 (9:35 am est)

 
Short positions were taken on the opening at 1140.50, which is near enough to the 1141 sell area.  (Continue to use a buy stop and rev. long at 1144.70).  The obj. remains near 1136.80.

Bulletin - Originally sent 01/20/04 (9:53 am est)

 
The market hit an intra-day support at 1138.20, that could possibly prevent the obj. of 1136.80 to come to play.
 
It is recommended for traders to exit the short position at the market, which is trading at 1139.50 and scratch the trade with a small profit.

Bulletin - Originally sent 01/20/04 (10:28 am est)

 
Short positions were taken again at the high end of the sell area at 1142.50.  The sell off down to 1137.50 is near enough to the 1136.80 obj. and completes the trade.

Bulletin - Originally sent 01/20/04 (10:39 am est)

 
The sell off down to 1136.80 is the buy area, putting traders into long positions.  The obj. is near 1140.50.  (Continue to use a sell stop and rev. short at 1131.70).

Bulletin - Originally sent 01/20/04 (1:45 pm est)

 
Long positions were taken at 1136.80.  An additional long position was added at 1134.80, which was near the low end of the buy area.  The rally up to 1138.80 should be considered an area for profits to be taken.
 
Exit the long positions at the market, which is trading at 1138.50 at this time, to complete the trades. 

Results:    01/20/04

Sold @ 1140.50 Bought @ 1139.50   = + $   250.00     bought as per bulletin   
Sold @ 1142.30 Bought @ 1137.50 = + $1,200.00
Bought @ 1136.80 Sold @ 1138.50 = + $   425.00     sold as per bulletin
Bought @ 1134.80 Sold @ 1138.50 = + $   925.00     sold as per bulletin
TOTAL (P & L)    + $2,800.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 1-21-04 :  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 -
1139.80 intra-day channel and 1140 peak (major area) / 1142.20 day top and 1143.70 newly developed daily upper channel (very major area) / 1146.30 minor daily upper channel (major) / 1149.20 monthly closing price and 1149.90 monthly top (major area) / 1153.10 minor weekly upper channel also 1153.70 major monthly upper channel and 1153.70 is also the major 50% retracement area (very major area) / 1155.50 minor weekly upper channel (major area) / 1158.90 minor weekly upper channel (very major area) / 1162.50 and 1163.50 day tops (major area) / 1169 weekly top and 1171.30 minor weekly upper channel (major area) / 1177 monthly top and also 1178.50 monthly top also 1180 weekly closing gap in the March contract (very major area) / 1187.50 weekly closing price and 1189.50 weekly top (very major area).
 
Support:  For the March contract -
1137.40 day channel with GBX prices also 1136.50 intra-day channel and 1136.20 base (major area) / 1135.30 base and 1135.10 intra-day channel also 1135 minor day channel and 1134 day bottom (very major area) / 1132 day bottom (significant) / 1129.30 major day channel and 1126 major weekly channel (very major area) / 1123 day bottom and 1122.60 day channel also 1122.10 minor weekly channel and 1121.30 day gap (very major area) / 1119.40 GBX bottom (major) / 1113.80 weekly bottom and 1112 day bottom (major area) / 1108.90 weekly closing gap and 1108.60 GBX bottom (major area) / 1106 weekly channel with GBX prices and 1104.40 long-term major day channel (very major area) / 1103.50 day bottom (major) / 1197.20 weekly bottom (major) / 1093.50 weekly closing gap and 1093 GBX weekly bottom also 1092.50 day bottom (very major area). 
 
Comments:
    The whiplashing action on Tuesday remained inside the first trading area and managed to close the day session slightly lower leaving the chart neutral inside a narrow range between 1143.70 and 1135 and also a second range between 1146.30 and 1129.30.  A trade to either side of the second range can possibly point a minor direction.  A trade above 1158.90 will confirm higher prices to follow.  A trade below the 1122.10 - 1121.30 area will fail the major support for lower prices.  Remain defensive inside the two trading areas until the market can prove a breakout to either side.
                   
Day trades:  For The March contract -
 
Aggressive traders can sell rallies near 1139.50 - 1140 area or buy dips near 1136 - 1135 area, whichever side comes first, to complete the trade.  (Use a buy stop and rev. long at 1140.50).  (Use a sell stop and rev. short at 1133.70).
 
Aggressive traders can buy dips near 1129.70 - 1129.30 area and if possible near 1126 for obj. near 1133 - 1135 area.  (Use a sell stop and rev. short at 1125).
 
Buy stop at 1140.50 for obj. near 1142 - 1143.70 area.
Buy stop at 1144.70 for obj. near 1146 - 1146.30 area and possibly near 1149.
 
Sell stop at 1133.70 for obj. near 1132 - 1130 and possibly near 1129.70.
Sell stop at 1125 for obj. near 1123.50 - 1121.30 gap area.
 

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

Bulletin - Originally sent 01/21/04 (10:33 am est)

 
The sell stop was hit at 1133.70 putting traders into short positions.  The 1132 is showing signs of support that can stimulate rallies. 
 
It is recommended for traders to exit the short positions at the market, which is trading at 1134 at this time and scratch the trade.
 
Traders can now use a sell stop at 1131.70 for obj. near 1129.70 - 1129.30 area

Bulletin - Originally sent 01/21/04 (12:03 pm est)

 
The rally up to 1138.60 was near enough to the 1139.50 sell area putting traders into short positions.  The obj. remains near 1136 - 1135 area.  Continue to use a buy stop and rev long at 1140.50.

Bulletin - Originally sent 01/21/04 (1:19 pm est)

 
The buy stop at 1140.50 was hit, putting traders into long positions.  The intra-day double top formation at 1141 is showing enough signs of resistance to consider exiting the trade. 
 
It is recommended for traders to exit the long position at the market, which is trading at 1140 at this time and scratch the trade.

Bulletin - Originally sent 01/21/04 (3:23 pm est)

 
The buy stop was hit at 1144.70 putting traders into long positions.  The rally up to 1147.50 meets the obj. and completes the trade.
 
NOTE:  To better understand the trade potential when using stops -   This last trade was a good example on how a buy stop or sell stop should materialize and meet its obj.  When a stop is hit the market should take prices near the obj. within a reasonable amount of time.  When prices stall, like was seen at the 1141 area today, it makes the trade defensive and creates a high risk, and therefore as you seen the buy stop at 1140.50  was scratched when it stalled at the 1141 area to prevent a possible loss.

Results:    01/21/04

Bought @ 1135.50 Sold @ 1133.70 = -  $   450.00     
Sold @ 1133.70 Bought @ 1133.70 =            -0-
Bought @ 1133.70 Sold @ 1138.50 = + $1,200.00
Sold @ 1138.50 Bought @ 1140.50 = -  $   500.00     
Bought @ 1140.50 Sold @ 1140 = -  $   125.00     
TOTAL (P & L)    + $   125.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 1-22-04 :  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 -
1148.50 day top and 1149.90 monthly top (major area) / 1153.10 minor weekly upper channel also 1153.70 major monthly upper channel and 1153.70 is also the major 50% retracement area (very major area) / 1155.50 minor weekly upper channel also 1156.50 daily upper channel (major area) / 1158.90 minor weekly upper channel (very major area) / 1162.50 and 1163.50 day tops (major area) / 1169 weekly top and 1171.30 minor weekly upper channel (major area) / 1177 monthly top and also 1178.50 monthly top also 1180 weekly closing gap in the March contract (very major area) / 1187.50 weekly closing price and 1189.50 weekly top (very major area).
 
Support:  For the March contract -
1145 intra-day channel and gap also 1143.50 base and 1143.30 gap (major area) / 1139.50 base (major) / 1136.70 base and 1136.20 day channel (very major area) / 1133 and 1132 day bottoms also 1131.90 major day channel (major area) / 1126 major weekly channel (very major area) / 1124.10 day channel and 1122.10 minor weekly channel (very major area) / 1121.30 day gap and 1119.40 GBX bottom (major area) / 1113.80 weekly bottom and 1112 day bottom (major area) / 1108.90 weekly closing gap and 1108.60 GBX bottom also 1106.20 long-term major day channel (very major area).
 
Comments:
    The rally on Wednesday proved the significance of the support and as mentioned in last Friday's report "as long as the support area can hold, then higher prices will develop".  The market now faces some serious resistance at the 1149.90 and 1153.70 area and also at 1158.90.  A trade above 1153.70 and 1158.90 will be a breakout above every major channel and if it materialized, the only major resistance thereafter that could possibly put a lid on this intermediate uptrend is the 1177 - 1178.50 double top.  A trade above the 1177 double top and the 1180 weekly closing gap will be considered a major breakout, putting the chart in a major uptrend, for prices to challenge the 1232.50 area and possibly near the 1319 top area.  A trade today below 1136.20 is slightly bearish but only a trade below the 1131.90 major day channel and 1126 major weekly channel can bring any solid bearishness back to the chart.  Remain defensive inside the first neutral trading area between the 1149.90 - 1153.70 resistance and 1145 - 1143.30 support.  Also the wide range between 1158.90 and 1131.90 will play an important roll in the action to follow.
                       
Day trades:  For The March contract -
 
Aggressive traders can sell rallies near 1148 - 1149.90 area or buy dips near 1145 - 1143.30 area, whichever side comes first, to complete the trade.  NOTE:  Because of the technical condition, this trade should not be repeated more then once on each side.  (Use a buy stop and rev. long at 1150.70).  (Use a sell stop and rev. short at 1142).
 
Aggressive traders can sell rallies near 1157.50 - 1158.90 area for obj. near 1154 - 1152 area.  (Use a buy stop and rev. long at 1160).
 
Aggressive traders can buy dips near 1133 - 1131.90 area for an obj. near 1136 - 1139 area.  (Use a sell stop and rev. short at 1129.70).
 
Buy stop at 1150.70 for obj. near 1152.70 - 1153.70 area.
Buy stop at 1160 for obj. near 1162 - 1163.50 area.
Buy stop at 1164.70 for obj. near 1167 - 1169 area.
 
Sell stop at 1142 for obj. near 1140 - 1139.50 area and possibly near 1136.20 area.
Sell stop at 1129.70 for obj. near 1127 - 1126 area and possibly near 1124.10.
Sell stop at 1117.70 for obj. near 1114.70 - 1113.80 area and possibly near 1108.90 gap.
 

* 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 01/22/04 (10:08 am est)

 
Short positions were taken at 1148.50.  The sell off down to 1145.50 is near enough to the 1145 obj. and completes the trade. 

Bulletin - Originally sent 01/22/04 (10:15 am est)

 
The sell-off down to 1145.10 is near enough to the 1145 buy area putting traders into long positions.  The obj. is near 114750 - 1148.50.  Continue to use a sell stop and rev. short at 1142.

Bulletin - Originally sent 01/22/04 (10:40 am est)

 
Long positions were taken at 1145.10.  The rally up to 1147.50 meets the obj. and completes the trade.

Bulletin - Originally sent 01/22/04 (3:40 pm est)

 
The sell stop was hit at 1142, putting traders into short positions.  NOTE:  The only price showing a support at this time is a reverse peak from yesterday's intra-day chart at 1141.20, which can be used for support at this time.  It was not mentioned in the report because of the lack of significance at that time.  Because of this support the obj. might fail to be met. 
 
It is recommended for traders to exit the short position at the market, which is trading at 1143.70 at this time and scratch the trade with a small loss.

Results:    01/22/04

Sold @ 1148.50 Bought @ 1145.50 = + $   750.00
Bought @ 1145.10 Sold @ 1147.50 = + $   600.00
Sold @ 1142 Bought @ 1143.70   = -  $   425.00     bought as per bulletin
TOTAL (P & L)    + $   925.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 1-23-04 :  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 -
1144.60 peak and 1145.20 intra-day channel also 1145.50 and 1146 peaks (major area) / 1147.50 and 1147.80 peaks (major area) / 1149.30 day top and 1149.90 monthly top also 1150.10 minor upper channel (major area) / 1153.10 minor weekly upper channel also 1153.70 major monthly upper channel and 1153.70 is also the major 50% retracement area (very major area) / 1155.50 minor weekly upper channel also 1156.50 daily upper channel (major area) / 1158.90 minor weekly upper channel and 1159.20 daily upper channel (very major area) / 1162.50 and 1163.50 day tops (major area) / 1169 weekly top and 1171.30 minor weekly upper channel (major area) / 1177 monthly top and also 1178.50 monthly top also 1180 weekly closing gap in the March contract (very major area) / 1187.50 weekly closing price and 1189.50 weekly top (very major area).
 
Support:  For the March contract -
1141.30 day bottom and 1140.10 intra-day channel (major area) / 1139.40 day channel and 1138.40 day channel with GBX prices (major area) / 1134.50 major day channel and 1133 day bottom also 1132 day bottom (very major area) / 1126 major weekly channel and 1125.60 day channel (very major area) / 1122.10 minor weekly channel and 1121.30 day gap also 1119.40 GBX bottom (very major area) / 1113.80 weekly bottom and 1112 day bottom (major area) / 1108.90 weekly closing gap and 1108.60 GBX bottom also 1107.90 long-term major day channel (very major area) / 1103.50 day bottom (major) / 1197.20 weekly bottom (major) / 1093.50 weekly closing gap and 1093 GBX weekly bottom also 1092.50 day bottom (very major area).
 
Comments:
    The whiplashing action on Thursday remained inside the first neutral area, proving the resistance and support are both at equal value in this area, which leaves the chart neutral again between two neutral trading ranges.  One being between 1147.80 and 1139.40 area and the other between 1150.10 and 1134.50 area.  A trade above or below these areas today is significant but only a breakout to either side of the weekly range between 1158.90 and 1126 will be a signal in the direction to follow for next week.  Remain defensive inside the two neutral areas until the market can prove a breakout to either side of the weekly range.
                           
Day trades:  For The March contract -
 
Aggressive traders can buy dips near 1142 - 1139.50 area or sell rallies near 1144 - 1145.50 area, whichever side comes first, to complete the trade.  (Use a sell stop and rev. short at 1137.70).  (Use a buy stop and rev. long at 1146).
 
Sell stop at 1137.70 for obj. near 1135 - 1134.50 area.
Sell stop at 1131.70 for obj. near 1128 - 1126 area.
Sell stop at 1124.70 for obj. near 1122.70 - 1122.10 area and possibly near 1121.30 day gap.
 
Buy stop at 1146 for obj. near 1147.50 - 1147.80.
Buy stop at 1148.10 for obj. near 1149.90 - 1150.10 area.
Buy stop at 1151 for obj. near 1153 - 1153.70 area.
Buy stop at 1154.10 for obj. near 1155.50 - 1156.60 area and possibly near 1158.90
 

* 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 01/23/04 (9:45 am est)

 
Long positions were taken on a buy stop at 1146 on the opening.  The rally to 1147.20 is near enough to the 1147.50 obj. and completes the trade.

Bulletin - Originally sent 01/23/04 (9:50 am est)

 
The market is showing signs of resistance at the 1147.20 area.
 
Aggressive traders can attempt short positions and sell at the market, which is trading at 1146.50.  (Use a buy stop and rev. long at 1148).  The obj. for this trade is near 1143.50 - 1142 area.

Bulletin - Originally sent 01/23/04 (11:08 am est)

 
The buy stop was hit at 1148.10 putting traders into long positions.  The double top at 1149 is showing signs of resistance but the sell-off at 1143.70 is giving traders another buying opportunity.
 
It is recommended for traders to enter additional long positions at the 1145- 1144 area.  Continue to use a sell stop and rev short at 1137.70.  The obj. for all long positions is to exit at 1148, which will be a profit on this additional trade and a scratch on the buy stop trade. 

Bulletin - Originally sent 01/23/04 (2:38 pm est)

 
The sell stop was hit putting traders into short positions.  It appears the major support at 1134.50 is holding prices from moving lower and might not reach the 1135 -1134.50 obj. today.
 
It is recommended for traders to exit short positions at the market, which is  trading at 1139 at this time, and cut losses.  

Results:    01/23/04

Bought @ 1146 Sold @ 1147.20 = + $   300.00
Sold @ 1146.50 Bought @ 1144.50 = + $   500.00     sold as per bulletin   
Bought @ 1148.10 Sold @ 1137.70 = -  $2,600.00
Bought @ 1144.50 Sold @ 1137.70 = -  $1,700.00     bought as per bulletin
Sold @ 1137.70 Bought @ 1139   = -  $   325.00
TOTAL (P & L)    -  $3,825.00
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 1-26-04 :  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 -
1142 and 1142.80 intra-day peak (major area) / 1146 peak and 1147.10 newly developed long-term major weekly channel (very major area) / 1149.30 weekly top and 1149.90 monthly top also 1150.90 minor upper channel (major area) / 1153.60 newly developed long-term major weekly upper channel and 1153.70 major monthly upper channel and also 1153.70 is the major 50% retracement area (very major area) / 1154.60 daily upper channel (major) / 1159.80 minor weekly upper channel (very major area) / 1162.50 and 1163.50 day tops also 1164.40 minor weekly upper channel (major area) / 1168 minor weekly upper channel and 1169 weekly top (major area) / 1172.60 minor weekly upper channel (major area) / 1177 and 1178.50 monthly double top area also 1180 weekly closing gap in the March contract (very major area) / 1185.20 minor weekly upper channel and 1187.50 weekly closing price (major area) / 1189.50 weekly top (very major area).
 
Support:  For the March contract -
1138.50 base and 1138.10 major weekly channel also 1138 day channel and 1137.90 weekly channel and 1137 major day channel (very major area) / 1135.30 day bottom (major) / 1133 and 1132 day bottoms (major area) / 1130.40 minor weekly channel and 1128.50 intra day base also 1127 day channel (very major area) / 1123 and 1122.70 day bottoms also 1121.30 day gap (major area) / 1119.40 GBX bottom (major) / 1114.90 weekly channel with GBX prices and 1113.80 weekly bottom also 1112 day bottom (very major area) / 1109.70 long-term day channel and 1108.90 weekly closing gap (very major area) / 1103.50 day bottom (major) / 1097.40 weekly channel without GBX prices and 1097.20 weekly bottom also 1095.30 long-term major weekly channel (very major area). 
 
Comments:
    The sell-off on Friday from the major resistance area was significant but the market managed to hold above the 1134.50 major support, leaving the chart neutral inside the first critical trading range between 1147.10 and 1138.10.  There is a  second critical trading area, which is the weekly range found between the 1149.90 - 1153.70 resistance area and the 1130.40 - 1127 support area.  A breakout above the 1153.70 area can bring prices up to challenge near the 1177 double top area.  A trade above the 1177 double top will be considered a major breakout for prices to possibly challenge the 1232.50 and 1319 top areas.  A trade below 1138.50 - 1137 area is slightly bearish but only a trade below the 1130.40 - 1127 area can bring any solid bearishness back to the chart.  Remain defensive inside the first two trading areas until a breakout to either side can possibly point a direction.
                               
Day trades:  For The March contract -
 
Aggressive traders can buy dips near 1140 - 1137 area, or sell rallies near 1146 - 1147.10 area, whichever side comes first to complete the trade.  (Use a sell stop and rev. short at 1135).  (Use a protective buy stop at 1151.30.  Do not rev. long).
 
Aggressive traders can buy dips near 1131 - 1127 area for obj. near 1136 - 1138 area.  (Use a sell stop and rev. short at 1125.70).
 
Aggressive traders can sell rallies near 1153 - 1153.70 area and if possible near 1154.60 for obj. near 1149 - 1147 area and possibly near 1145.  (Use a buy stop and rev. long at 1156.70).
 
Sell stop at 1135 for obj. near 1133 - 1132 area and possibly near 1130.40 - 1127 area.
Sell stop at 1125.70 for obj. near 1123 - 1122.70 area and possibly near 1121.30 gap.
Sell stop at 1118 for obj. near 1115 - 1113.80 area.
 
Buy stop at 1156.70 for obj. near 1158.70 - 1159.80 area.
Buy stop at 1160.50 for obj. near 1162.50 - 1163.50 area and possibly near 1164.40 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 01/26/04 (9:49 am est)

 
Long positions were taken on the opening at 1139.50.  The rally up to 1142.50 is the first level of resistance for traders to consider taking profits.  This completes the first side of the trade.  Traders can still consider selling near 1146 - 1147 area.

Bulletin - Originally sent 01/26/04 (10:55 am est)

 
Long positions were taken again at the 1140 buy area.  The rally up to 1143.50 is worthy enough for traders to consider taking profits again.  This completes the buy side of the first trade and will not be repeated again.  The sell at 1146 - 1147 area will still be considered for short positions.   

Bulletin - Originally sent 01/26/04 (2:39 pm est)

 
The rally up to 1146 - 1147.10 area put traders into short positions.  The short position that was taken at 1146.50 should use an obj. to take profits near 1144 - 1143 area.  (Continue to use a protective buy stop at 1151.30.  Do not rev. long).

Bulletin - Originally sent 01/26/04 (3:39 pm est)

 
The rally up to 1152.50 is near enough to the 1153 sell area putting traders into short positions.
 
The obj is to exit near the 1149 - 1147 area.  Continue to use a buy stop and rev. long at 1156.70

Results:    01/26/04

Bought @ 1139.50 Sold @ 1142.50   = + $   750.00     sold as per bulletin   
Bought @ 1140 Sold @ 1143.50 = + $   875.00
Sold @ 1146.50 Bought @ 1151.30 = -  $1,200.00     
Sold @ 1152.50 Bought @ 1154.30 = -  $   450.00     
TOTAL (P & L)    -  $     25.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 1-27-04 :  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 -
1154.30 closing price and 1155 day top (major area) / 1156.80 weekly top and 1157.10 newly developed daily upper channel (major area) / 1159.80 minor weekly upper channel and 1160.20 daily upper channel (very major area) / 1162.50 and 1163.50 day tops also 1164.40 minor weekly upper channel (major area) / 1168 minor weekly upper channel and 1169 weekly top (major area) / 1172.60 minor weekly upper channel (major area) / 1177 and 1178.50 monthly double top area also 1180 weekly closing gap in the March contract (very major area) / 1185.20 minor weekly upper channel and 1187.50 weekly closing price (major area) / 1189.50 weekly top (very major area).
 
Support:  For the March contract -
1153.70 intra-day channel and 1153.30 base (major area) / 1151.70 and 1151.30 base area (major area) / 1147.50 base and 1146.30 gap and intra-day channel (major area) / 1144.20 intra-day channel and 1143.30 minor day channel (major area) / 1140.70 day channel and 1139.60 major day channel also 1139.30 day bottom and 1138.10 major weekly channel also 1137.90 weekly channel and 1137.60 minor day channel (very major area) / 1135.30 day bottom (major) / 1133 weekly bottom and 1132 day bottom also 1130.40 minor weekly channel (very major area) / 1128.50 day channel (major) / 1123 and 1122.70 day bottoms also 1121.30 day gap (major area) / 1119.40 GBX bottom (major) / 1114.90 weekly channel with GBX prices and 1113.80 weekly bottom (very major area) / 1112 day bottom and 1111.40 long-term major day channel (very major area) / 1108.90 weekly closing gap (major area) / 1103.50 day bottom (major) / 1097.40 weekly channel without GBX prices and 1097.20 weekly bottom also 1095.30 long-term major weekly channel (very major area). 
 
Comments:
    The rally on Monday brought prices up to the major resistance area at 1153.70 - 1154.60 area and surprisingly held the rally without a sell-off leaving the chart in bullish territory but defensive.  A trade above the 1156.80 weekly top and 1159.80 channel area is bullish and will be considered another breakout for prices to possibly challenge the 1177 - 1178.50 double top area.  Only a trade below the 1140.70 - 1137.90 area could bring any bearishness back to the chart.  Remain defensive inside the first trading area between 1156.80 and 1146.30.  Also the wide second trading area between 1159.80 and 1137.60 will play an important roll for the direction in this very critical area.
                                   
Day trades:  For The March contract -
 
Aggressive traders can sell rallies near 1154 - 1156.80 area or buy dips near 1152.50 - 1151.70, whichever side comes first to complete the trade.  (Use a buy stop and rev. long at 1157.60).  (Use a sell stop and rev. short at 1150.30).
 
Aggressive traders can sell rallies near 1159.80 - 1160.20 area for obj. near 1154.50 - 1153 area.  (Use a buy stop and rev. long at 1161.30).
 
Aggressive traders can buy dips near 1141 - 1139.60 area for obj. near 1144 - 1145.50 area.  (Use a sell stop and rev. short at 1134.70).
 
Buy stop at 1157.60 for obj. near 1159 - 1160.20 area.
Buy stop at 1161.30 for obj. near 1163 - 1164.40 area and possibly near 1167.
Buy stop at 1170 for obj. near 1172.60 and possibly near 1175 - 1177 area.
 
Sell stop at 1149.70 for obj. near 1147.70 - 1146.30 area.
Sell stop at 1134.70 for obj. near 1133 - 1132 area and possibly near 1130.40 area.
Sell stop at 1125 for obj. near 1123 - 1122.70 and possibly near 1121.30 gap area.
 

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

Bulletin - Originally sent 01/27/04 (9:41 am est)

 
Short positions were taken on the opening at 1153.40, which is near enough to the 1154 sell area.  The sell off down to 1151.50 meets the obj. and completes the trade.

Bulletin - Originally sent 01/27/04 (9:48 am est)

 
Long positions were taken at 1151.50.  The rally up to 1153.60 is near enough to the 1154 obj. and completes the trade.
 
This trade is complete on both sides and will not be repeated for today.

Bulletin - Originally sent 01/27/04 (11:53 am est)

 
The sell stop at 1149.70 was hit putting traders into short positions.  The market reached 1148.50, showing signs of support before the obj. was reached. 
 
It is recommended for traders to exit the short position and buy near 1149.70 to scratch the trade.

Results:    01/27/04

Sold @ 1153.40 Bought @ 1151.50 = + $   475.00
Bought @ 1151.50 Sold @ 1153.60 = + $   525.00
Sold @ 1149.70 Bought @ 1149.70   =    $     -0-         bought as per bulletin
TOTAL (P & L)    + $1,000.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 1-28-04 :  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 -
1144.60 intra-day channel also 1144.70 and 1145.20 peaks (major area) / 1146.30 and 1147.10 peaks also 1147.60 intra-day channel and 1147.90 peak (major area) / 1150.50 peaks (major) / 1153 minor day channel and 1154 day top also 1155 day top and 1156.80 weekly top (very major area) / 1159.10 daily upper channel and 1159.80 minor weekly upper channel (very major area) / 1162.50 daily upper channel also 1162.50 and 1163.50 day tops and 1164.40 minor weekly upper channel (very major area) / 1167.10 daily upper channel and 1168 minor weekly upper channel also 1169 weekly top (major area) / 1172.60 minor weekly upper channel (major area) / 1177 and 1178.50 monthly double top also 1180 weekly closing gap in the March contract (very major area) / 1185.20 minor weekly upper channel and 1187.50 weekly closing price (major area) / 1189.50 weekly top (very major area).
 
Support:  For the March contract -
1142.20 major day channel (major area) / 1139.30 day bottom and 1138.10 major weekly channel also 1137.90 weekly channel (very major area) / 1135.30 day bottom (major) / 1133 weekly bottom and 1132 day bottom also 1130.40 minor weekly channel and 1130 day channel (very major area) / 1123 and 1122.70 day bottoms also 1121.30 day gap (major area) / 1119.40 GBX bottom (major) / 1114.90 weekly channel with GBX prices and 1113.80 weekly bottom also 1113.20 long-term day channel and 1112 day bottom (very major area) / 1108.90 weekly closing gap (major area) / 1103.50 day bottom (major) / 1097.40 weekly channel without GBX prices and 1197.20 weekly bottom also 1095.30 long-term major weekly channel and 1094.10 long-term major day channel (very major area).
 
Comments:
    The sell-off on Tuesday from the major resistance was significant, removing some of the bullishness from Monday, leaving the chart in neutral condition again between the 1153 - 1138.10 trading range.  A trade below the 1138.10 - 1137.90 major support can bring prices down to challenge the 1130.40 - 1130 support area.  A trade below 1130 is bearish for lower prices.  A trade today above the 1144.60 will challenge the 1147.60 resistance.  A trade above 1147.60 is slightly bullish and can challenge the 1153 - 1156.80 major resistance.  A trade above 1156.80 and 1159.80 areas will be considered a breakout for higher prices.  Remain defensive inside the first trading area between 1144.60 and 1147.60 resistance and 1138.10 and 1137.90 support.
                                       
Day trades:  For The March contract -
 
Aggressive traders can buy dips near 1139.50 - 1137.90 area or sell rallies near 1144.50 - 1147.60 area, whichever side comes first, to complete the trade.  (Use a sell stop and rev. short at 1134.90).  (Use a buy stop and rev. long at 1148).
 
Aggressive traders can buy dips near 1131.50 - 1130 area for obj. near 1135 - 1137 area.  (Use a sell stop and rev. short at 1127).
 
Aggressive traders can sell rallies near 1153 - 1156 area for obj. near 1148 - 1145 area.  (Use a buy stop and rev. long at 1160.30).
 
Sell stop at 1134.90 for obj. near 1131.50 - 1130 area.
Sell stop at 1127 for obj. near 1124 - 1122.70 area and possibly near 1121.30 gap.
Sell stop at 1118 for obj. near 1115 - 1113.80 area.
 
Buy stop at 1148 for obj. near 1151 - 1153 area.
Buy stop at 1160.30 for obj. near 1162.30 - 1164.40 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 01/28/04 (11:10 am est)

 
Short positions were taken at 1146.  The rally up to 1147.80 is still showing signs of resistance.  Change the buy stop from 1148 and move it up to 1149.

Bulletin - Originally sent 01/28/04 (2:26 pm est)

 
Short positions were taken at 1146.  The sell-off down to 1139.50 - 1137 meets the obj. and completes the trade.

Bulletin - Originally sent 01/28/04 (2:40 pm est)

 
The sell stop was hit at 1134.90 putting traders into short positions.  The sell-off should have hit the 1131 - 1130 obj. but There's too much support at the 1133 - 1130.40 area to risk this trade.   the fast sell-off could be just a shakeout.
 
It is recommended for traders to exit the short position at the market, which is trading at 1135 at this time and scratch the trade.

Bulletin - Originally sent 01/28/04 (2:52 pm est)

 
The sell-off down to 1131.50 - 1130 area was the buy area putting traders into long positions.  The obj. remains near 1135 - 1137 area.  Continue to use a sell stop and rev. short at 1127.

Bulletin - Originally sent 01/28/04 (3:01 pm est)

 
Short positions were taken at 1131.  The rally up to 1135 meets the obj. and completes the trade.

Bulletin - Originally sent 01/28/04 (3:27 pm est)

 
The support is significant enough to consider taking long positions again at the 1131.50 - 1130 area.
 
Long positions were taken at 1131.50.  The obj. remains near 1135 - 1137 area.  Continue to use a sell stop and rev short at 1127.

Bulletin - Originally sent 01/28/04 (3:56 pm est)

 
The sell stop was hit at 1127 putting traders into short positions.  The sell-off down to 1124.90 is near enough to the 1124 obj. and completes the trade.

Results:    01/28/04

Sold @ 1146 Bought @ 1138 = + $2,000.00
Sold @ 1134.90 Bought @ 1134.90 =    $     -0-        bought as per bulletin   
Bought @ 1131 Sold @ 1135 = + $1,000.00
Bought @ 1131.50 Sold @ 1127 = -  $1,125.00     
Sold @ 1127 Bought @ 1125   = + $   500.00
TOTAL (P & L)    + $2,375.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 1-29-04 :  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 -
1130.50 intra-day channel and 1131.10 rev. base also 1133.20 peak (major area) / 1135.50 peak and 1138 peak (major area) / 1142 day channel and 1144.50 peak (very major area) / 1148 day top (major area) / 1152 minor day channel and 1154 day top also 1155 day top and 1156.80 weekly top (very major area) / 1159.80 minor weekly channel and 1161.10 daily upper channel (very major area) / 1162.50 and 1163.50 day tops also 1164.40 minor weekly upper channel and 1164.80 daily upper channel (very major area) / 1167.10 daily upper channel and 1168 minor weekly upper channel also 1169 weekly top (major area) / 1172.60 minor weekly upper channel (major area) / 1177 and 1178.50 monthly double top also 1180 weekly closing gap in the March contract (very major area).
 
Support:  For the March contract -
1128 base and 1127 newly developed major day channel also 1126.70 base (major area) / 1125.90 minor day channel and 1124.90 day bottom also 1124.20 weekly GBX channel (very major area) / 1123 and 1122.70 weekly bottoms also 1121.30 day gap (major area) / 1119.40 GBX bottom (major) / 1114.90 weekly channel with GBX prices and 1114.90 is also the long-term major day channel also 1113.80 weekly bottom and 1112 day bottom (very major area) / 1108.90 weekly closing gap and 1108.60 GBX bottom (major area) / 1103.50 day bottom (major) / 1097.40 weekly channel without GBX prices and 1197.20 weekly bottom (very major area) / 1095.50 long-term major day channel and 1095.30 long-term major weekly channel also 1093.50 weekly closing gap and 1093 GBX weekly bottom (very major area).
 
Comments:
    The sell-off on Wednesday brought prices down below the first major support area leaving it in neutral to bearish condition.  A trade below the 1124.20 and 1121.30 gap area can bring prices down to challenge the 1114.90 area, which is the long-term major support and can prove to be significant enough to stimulate substantial rallies.  A trade below 1114.90 can prove to be the first signal of a major trend reversal.  A trade below 1097.30 - 1093 area will confirm a reversal of the major trend to the downside for lower prices to continue.  Only a trade above 1142 can bring any bullishness back to the chart.  Remain defensive inside the first neutral area between the 1133.20 - 1135.50 resistance and 1127 - 1124.20 support.  Also, be defensive inside the wide major trading area between 1142 - 1114.90.
                                           
Day trades:  For The March contract -
 
Aggressive traders can sell rallies near 1130 - 1133 area or buy dips near 1127 - 1125.50 area, whichever side comes first to complete the trade.  (Use a protective buy stop and 1136.  Do not rev. long).  (Use a sell stop and rev. short at 1124).
 
Aggressive traders can sell rallies near 1138 - 1142 area for obj. near 1135 - 1133.50 area.  (Use a buy stop and rev. long at 1145).
 
Aggressive traders can attempt long positions near 1114.90 - 1113.80 area for obj. near 1119 - 1121 area.  (Use a sell stop and rev. short at 1111).
 
Buy stop at 1145 for obj. near 1146.50 - 1147.50 area.
Buy stop at 1149.30 for obj. near 1151 - 1153 area and possibly near 1156.80.
 
Sell stop at 1124 for obj. near 1122.70 - 1121.30 gap area.
Sell stop at 1118 for obj. near 1115.50 - 1114.90 area.
Sell stop at 1111 for obj. near 1108.90 weekly gap.
 

* 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 01/29/04 (9:55 am est)

 
Short position were taken on the opening at 1131.50.  The sell off down to 1128.20 is near enough to the 1127 obj. and completes the trade.

Bulletin - Originally sent 01/29/04 (10:05 am est)

 
The sell off down to 1127 is the buy area putting traders into long positions.  The obj. if near 1130 - 1131 area.  (Continue to use a sell stop and rev. short at 1124).

Bulletin - Originally sent 01/29/04 (10:50 am est)

 
Long positions were taken at 1127.  The rally up to 1130 meets the obj. and completes the trade.

Bulletin - Originally sent 01/29/04 (1:46 pm est)

 
The sell stop was hit at 1124 putting traders into short positions.  The sell-off down to 1122 meets the obj, and completes the trade.

Results:    01/29/04

Sold @ 1131.50 Bought @ 1128.20 = + $   825.00     bought as per bulletin
Bought @ 1127 Sold @ 1130 = + $   750.00
Sold @ 1124 Bought @ 1122   = + $   500.00     
TOTAL (P & L)    + $2,075.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 1-30-04 :  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 -
1131.40 and 1131.50 peaks also 1131.50 intra-day channel and 1133.50 day top (major area) / 1135.50 peak and 1136 day channel also 1138 peak (very major area) / 1140 weekly closing price and 1142 intra-day channel (major area) / 1147.30 peak and 1148 day top (major area) / 1151 minor day channel (major) / 1154 day top and 1155 weekly top also 1156.80 weekly top (very major area) / 1159.80 minor weekly channel (major area) / 1162.50 and 1163.50 day tops also 1163.20 daily upper channel and 1164.40 minor weekly upper channel (very major area) / 1167.10 daily upper channel and 1168 minor weekly upper channel also 1169 weekly top (major area) / 1172.60 minor weekly upper channel (major area) / 1177 and 1178.50 monthly double top also 1180 weekly closing gap in the March contract (very major area).
 
Support:  For the March contract -
1130 intra-day channel and base also 1129 and 1128.50 rev. peaks (major area) / 1125.10 and 1124.70 base area also 1122.90 newly developed major day channel (very major area) / 1121 day bottom and 1119.40 GBX bottom (major area) / 1116.70 long-term major day channel and 1114.90 weekly channel with GBX prices (very major area) / 1113.80 weekly bottom and 1112 day bottom (major area) / 1108.90 weekly closing gap and 1108.60 GBX bottom (major area) / 1103.50 day bottom (major) / 1097.40 weekly channel without GBX prices and 1097.20 weekly bottom also 1096.90 long-term major day channel (very major area) / 1095.30 long-term major weekly channel and 1093.50 weekly closing gap and 1093 GBX weekly bottom (very major area).
 
Comments:
    The whiplashing action on Thursday remained inside the neutral area.  The rally from the support gap managed to close the session up on the day taking away some of the bearishness and leaving the chart neutral to slightly bearish between the 1136 - 1122.90 trading area.  A trade above 1136 - 1138 area is slightly bullish but only a trade above 1042 can bring any significant bullishness back to the chart.  A trade today below the 1122.90 - 1119.40 area is bearish but the support at 1116.70 - 1114.90 area is significant.  A trade below 1114.90 can prove to be the first signal of a major trend reversal to the downside.  Next week the new monthly support line moves up to 1111.70.  This monthly channel can prove to be supportive enough for rallies or a signal to confirm a major reversal to the downside.  Remain defensive inside the 1136 - 1122.90 trading area until a signal for direction can be established.
                                               
Day trades:  For The March contract -
 
Aggressive traders can sell rallies near 1135 - 1136 area for obj. near 1131 - 1129 area.  (Use a buy stop and rev. long at 1139).
 
Aggressive traders can buy dips near 1117 - 1114.90 area for obj. near 1120 - 1123 area.  (Use a sell stop and rev. short at 1111).
 
Buy stop at 1139 for obj. near 1141 - 1142 area.
Buy stop at 1143.70 for obj. near 1145 - 1147 area.
 
Sell stop at 1127.90 for obj. near 1125.90 - 1122.90 area.
Sell stop at 1111 for obj. near 1108.90 gap - 1108.60 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 01/30/04 (9:25 am est)

 
Cancel the sell stop at 1127.90.  The GBX session had made a low at 1127.70, which would now consider it to be a double bottom support if it got there, and it would make the sell stop at 1127.90 too high of a risk for the reward at this time.

Results:    01/30/04

Narrow trading range left the day with no trades executed

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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