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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 - 02/02/04 - 02/06/04
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 2-02-04 :  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 day channel and 1130.70 rev. weekly major channel also 1131.10 minor day channel (major area) / 1132.30 and 1133.50 day tops (major area) / 1137.20 intra-day channel and 1138 peak (very major area) / 1145.40 newly developed long-term major monthly channel (very major area) / 1148 day top and 1150 minor day channel (major area) / 1152.80 long-term major weekly channel and 1153.80 weekly channel also 1154 monthly channel and day top and 1154.80 minor weekly channel and 1155 weekly top (very major area) / 1159.30 and 1159.40 long-term major weekly upper channels and 1160.70 minor weekly upper channel (very major area) / 1162.50 and 1163.50 day tops (major area) / 1169 weekly top (major) / 1174.90 major monthly upper channel (major area).
 
Support:  For the March contract -
1129.30 base and 1129.20 intra-day channel also 1128.90 and 1128.50 base areas (major area) / 1126 day bottom (major) / 1124.80 major day channel also 1124.60 newly developed minor weekly channel and 1123.80 weekly channel with GBX prices (very major area) / 1122.80 minor day channel and 1121 weekly bottom (major area) / 1119.40 GBX bottom and 1118.40 long-term day channel (very major area) / 1113.80 weekly bottom and 1111.70 long-term major monthly channel also 1110.60 monthly closing price (very major area) / 1108.90 weekly closing gap and 1108.60 GBX bottom (major area) / 1103.80 weekly channel without GBX prices and 1103.50 day bottom also 1102 long-term major weekly channel (very major area) / 1098.50 and 1098.20 are minor monthly channels also 1098.20 long-term major day channel and 1097.20 weekly bottom (very major area).
 
Comments:
    Friday's session remained inside the first narrow neutral range, leaving the chart neutral again between 1131.10 and 1123.80 trading area.  A trade above 1131.10 is slightly bullish as well as a trade above 1137.20 - 1138 area but only a trade above 1145.40 can bring any significant bullishness back to the chart.  A trade below 1124.80 - 1122.20 area is slightly bearish but only a trade below 1118.40 and 1111.70 support areas can prove to be the first signal of a reversal of the major trend to the downside.  A trade below the 1098.50 and 1093.30 area will confirm the major downtrend intact for lower prices to follow.  Remain defensive inside the first neutral area between 1131.10 and 1123.80 until a solid direction can be established.  NOTE:  It is still possible for prices to trade up near the 1150 - 1152.80 area again for a technical major double top formation to be established.
                                                   
Day trades:  For The March contract -
 
Aggressive traders can sell rallies near 1129 - 1131.10 area for obj. near 1127 and possibly near 1124.80 - 1123.80 area.  (Use a buy stop and rev. long at 1133.80).
 
Aggressive traders can buy dips near 1125 - 1123.80 area for obj. near 1128 - 1129 area.  (Use a sell stop and rev. short at 1120.90).
 
Aggressive traders can sell rallies near 1135.90 - 1137.20 area for obj. near 1134 - 1132 area.  (Use a buy stop and rev. long at 1140).
 
Aggressive traders can attempt long positions near 1119 - 1118.40 for obj. near 1120.80 - 1122.80 area.  (Use a sell stop and rev. short at 1116.80).
 
Aggressive trades can buy dips near 1113.80 - 1111.70 area for obj. near 1118 - 1120 area and possibly near 1123.  (Use a sell stop and rev. short at 1107.70).
 
Buy stop at 1133.80 for obj. near 1135.90 - 1137.20 area.
Buy stop at 1140 for obj. near 1143 - 1145.40 area.
 
Sell stop at 1120.90 for obj. near 1119 - 1118.40 area.
Sell stop at 1116.80 for obj. near 1113.80 - 1111.70 area.
Sell stop at 1107.70 for obj. near 1104.70 - 1102 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 02/02/04 (12:03 pm est)
 
The buy stop at 1133.80 was hit, putting traders into long positions.  The sell-off down to 1127 - 1126.50 put traders into additional long positions.  The rally up to 1136 meets the obj. and completes the trade.

Bulletin - Originally sent 02/02/04 (12:36 pm est)

 
The rally up to 1137 put traders into short positions.  The obj. is near 1134 - 1132 area.  (Continue to use a buy stop and rev. long at 1139).

Bulletin - Originally sent 02/02/04 (1:04 pm est)

 
The buy stop at 1139 was hit, putting traders into long positions.  The rally up to 1142 is near enough to the 1143 obj. and completes the trade.

Results:    02/02/04

Sold @ 1131.70 Bought @ 1133.80 = -  $   525.00
Bought @ 1133.80 Sold @ 1136 = + $   550.00   
Bought @ 1126.50 Sold @ 1128.50 = + $   500.00     
Sold @ 1137 Bought @ 1139 = -  $   500.00     
Bought @ 1139 Sold @ 1141.70   = + $   675.00
TOTAL (P & L)    + $   700.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 2-03-04 :  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 -
1134.60 intra-day channel and 1135 double peak (major area) / 1138.50 and 1139.50 peaks also 1139 newly developed day channel and 1140 minor day channel (very major area) / 1142 day top and 1145.40 long-term major monthly channel (very major area) / 1147.30 peak and 1148 day top also 1149 minor day channel (major area) / 1152.80 long-term major weekly channel and 1153.80 weekly channel also 1154 monthly channel and day top and 1154.80 minor weekly channel and 1155 weekly top (very major area) / 1159.30 and 1159.40 long-term major weekly upper channels and 1160.70 minor weekly upper channel (very major area) / 1162.50 and 1163.50 day tops (major area) / 1169 weekly top (major) / 1174.90 major monthly upper channel (major area).
 
Support:  For the March contract -
1129.20 minor day channel and 1129 base (major area) / 1126.70 major day channel also 1126.50 and 1126 day bottoms (very major area) / 1124.60 minor weekly channel and 1123.80 weekly channel with GBX prices also 1122.80 minor day channel (very major area) / 1121 day bottom and 1120.20 long-term day channel also 1119.40 GBX bottom (very major area) / 1113.80 weekly bottom and 1111.70 long-term major monthly channel also 1110.60 monthly closing price (very major area) / 1108.90 weekly closing gap and 1108.60 GBX bottom (major area) / 1103.80 weekly channel without GBX prices and 1103.50 day bottom also 1102 long-term major weekly channel (very major area) / 1098.50 and 1098.20 are minor monthly channels also 1098.20 long-term major day channel and 1097.20 weekly bottom (very major area).
 
Comments:
    Monday's whiplashing action and sell-off from the very major resistance area near 1145.40 proved the significance of the area and is a slightly bearish signal.  But prices managed to hold above the 1124.60 - 1123.80 and 1122.80 very major support as well, which can still be considered supportive and slightly bullish.  This leaves the chart having a bullish and a bearish signal, which is considered totally neutral and now the direction is a toss of a coin.  A trade above 1139 - 1140 area is slightly bullish but only a trade above 1145.40 can bring any solid bullishness back to the chart.  A trade above 1145.40 can bring prices up to possibly challenge the major top area.  A trade today below the 1126.70 - 1124.60 and 1123.80 support area is slightly bearish but only a trade below the 1120.20 area can bring any solid bearishness to the chart.  A trade below 1111.70 can prove to be the beginning of a new downtrend.  Remain defensive inside the first neutral area between 1134.60 and 1126.70 and the second wider neutral trading area between 1139 and 1123.80 area.
                                                       
Day trades:  For The March contract -
 
Aggressive traders can sell rallies near 1134 - 1134.60 and if possible near 1135 for obj. near 1130 - 1129 area.  (Use a protective buy stop at 1136.  Do not rev. long).
 
Aggressive traders can sell  rallies near 1138.50 - 1139.50 area for obj. near 1136 - 1134 area.  (Use a buy stop and rev. long at 1142.60).
 
Aggressive traders can buy dips near 1129.50 - 1126.70 area and if possible near 1124.60 for obj. near 1133 - 1134 area.  (Use a sell stop and rev. short at 1122).
 
Aggressive traders can buy dips near 1113.80 - 1111.70 area for obj. near 1119 - 1121 area and possibly near 1123.  (Use a sell stop and rev. short at 1107).
 
Buy stop at 1142.60 for obj. near 1144.50 - 1145.40 area.
 
Sell stop at 1122 for obj. near 1120.50 - 1119.40 area.
Sell stop at 1118 for obj. near 1114.50 - 1111.70 area.
Sell stop at 1107 for obj. near 1105 - 1102 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 02/03/04 (9:40 am est)

 
The rally up to 1133.50 is near enough to the 1134 sell area, putting traders into short positions.  The obj. remains near 1130 - 1129 area.  (Continue to use a protective buy stop at 1136.  Do not rev. long).

Bulletin - Originally sent 02/03/04 (9:51 am est)

 
Short positions were taken at 1133.50.  The sell off down to 1129.50 meets the obj. and completes the trade and also puts traders into long positions. 
 
Long positions were taken at 1129.50.  The obj. remains near 1133.  Additional long positions can be taken near 1126.70 - 1124.60 area.

Bulletin - Originally sent 02/03/04 (9:55 am est)

 
Long positions were taken at 1129.50.  The rally up to 1132 is near enough to the 1133 obj. and is showing signs of resistance where profits will be considered and completes this trade.

Bulletin - Originally sent 02/03/04 (10:38 am est)

 
Short positions were taken at the high end of the sell area at 1135.  The sell off down to 1131 is near enough to the 1130 obj. and completes the trade.

Bulletin - Originally sent 02/03/04 (10:53 am est)

 
Aggressive traders can attempt long positions near the low end of the support area between 1126.70 and 1124.60 area.  The obj. for that long position will be 1129 - 1131 area.  (Continue to use a sell stop and rev. short at 1122).

Bulletin - Originally sent 02/03/04 (3:01 pm est)

 
The neutral conditions continue to show no direction but the resistance is significant at this time.    
 
The support at this time is at 1131 and trades below 1130 can possibly put the formation into negative condition.  It is recommended to cancel the buy areas at 1126.70 - 1124.60 area. 

Results:    02/03/04

Sold @ 1133.50 Bought @ 1129.50 = + $1,000.00
Bought @ 1129.50 Sold @ 1132 = + $   625.00
Sold @ 1135 Bought @ 1131   = + $1,000.00
TOTAL (P & L)    + $2,625.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 2-04-04 :  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 -
1133.60 intra-day channel (major) / 1135 and 1135.70 peaks also 1136 day channel and 1136.40 day top (very major area) / 1137.80 and 1138.50 peaks also 1138 minor day channel (major area) / 1142 day top (major) / 1145.40 long-term major monthly channel (very major area) / 1147.30 peak and 1148 day top also 1148 minor day channel (major area) / 1152.80 long-term major weekly channel and 1153.80 weekly channel also 1154 monthly channel and day top and 1154.80 minor weekly channel and 1155 weekly top (very major area) / 1159.30 and 1159.40 long-term major weekly upper channels and 1160.70 minor weekly upper channel (very major area) / 1162.50 and 1163.50 day tops (major area) / 1169 weekly top (major) / 1174.90 major monthly upper channel (major area).
 
Support:  For the March contract -
1132.50 and 1132 minor day channels (major area) / 1129.50 day bottom and 1128.70 major day channel (very major area) / 1126.50 and 1126 day bottoms (major area) / 1124.60 minor weekly channel and 1123.80 weekly channel with GBX prices also 1123.40 minor day channel (very major area) / 1121.90 long-term day channel and 1121 weekly bottom (very major area) / 1119.40 GBX bottom (major) / 1113.80 weekly bottom and 1111.70 long-term major monthly channel also 1110.60 monthly closing price (very major area) / 1108.90 weekly closing gap and 1108.60 GBX bottom (major area) / 1103.80 weekly channel without GBX prices and 1103.50 monthly bottom also 1102 long-term major weekly channel (very major area) / 1100.90 long-term major day channel also 1098.50 and 1098.20 minor monthly channels and 1097.20 weekly bottom (very major area).
 
Comments:
    The whiplashing action on Tuesday remained inside the neutral area leaving the chart with no solid direction.  A trade above 1136 and 1138 is slightly bullish but only a trade above 1145.40 can bring any solid bullishness back to the chart.  A trade today below 1128.70 is slightly bearish but only a trade below 1124.60 - 1123.80 area can bring any solid bearishness back to the chart.  Remain defensive inside the first neutral trading area between 1133.60 and 1128.70 and the second neutral area between 1136 - 1138 resistance area and 1124.60 - 1123.80 support area.  NOTE:  A breakout to either side of the wide major trading area between 1145.40 and 1111.70 can prove to point the direction. 
                                                           
Day trades:  For The March contract -
 
Aggressive traders can buy dips near 1127 - 1124.60 area and if possible near 1123.80 for obj. near 1130 - 1133 area.  (Use a sell stop and rev. short at 1122.70).
 
Aggressive traders can sell rallies near 1135.50 - 1138 area for obj. near 1132 - 1130 area.  (Use a buy stop and rev. long at 1139.70).
 
Aggressive traders can sell rallies near 1145.40 or buy dips near 1111.70, whichever side comes first.  Look for 3 to 6 points obj. from either side and use a 4-point stop loss from each entry point.
 
Buy stop at 1134.60 for obj. near 1136 - 1138 area.
Buy stop at 1139.70 for obj. near 1142 - 1145.70 area.
Buy stop at 1149.70 for obj. near 1152 - 1153 area.
 
Sell stop at 1122.70 for obj. near 1120.20 - 1119.40 area.
Sell stop at 1118 for obj. near 1114 - 1111.70 area.
Sell stop at 1107.70 for obj. near 1104.70 - 1103.80 area and possibly near 1103.50 - 1102 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 02/04/04 (10:04 am est)

 
Long positions were taken at 1127.  The rally up to 1129.30 is near enough to the 1130 obj. and completes the trade.

Bulletin - Originally sent 02/04/04 (10:14 am est)

 
The sell-off down to the low end of the buy area at 1124.70 put traders into long positions again.  The obj. will be near 1128 - 1130 area.  Continue to use a sell stop and rev short at 1122.70

Bulletin - Originally sent 02/04/04 (10:19 am est)

 
Long positions were taken at 1125.  The rally up to 1128 meets the obj. and completes the trade.

Bulletin - Originally sent 02/04/04 (2:38 pm est)

 
The sell-off brought prices down to 1123, which did not hit the sell stop listed at 1122.70. 
 
It is recommended for traders to cancel the sell stop at 1122.70 and only use the 1118 sell stop for short positions at this time.

Results:    02/04/04

Bought @ 1127 Sold @ 1129   = + $   500.00    
Bought @ 1125 Sold @ 1128 = + $   750.00
TOTAL (P & L)    + $1,250.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 2-05-04 :  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 -
1125.80 intra-day channel and 1126 peak (major area) / 1127.20 intra-day channel and peak also 1127.50 and 1128.10 minor day channels (major area) / 1132.30 day top and 1133 day gap also 1133 day channel (very major area) / 1135.70 peak and 1136 day channel also 1136.50 day top (very major area) / 1142 day top (major) / 1145.40 long-term major monthly channel (very major area) / 1147 minor day channel and 1147.30 peak also 1148 day top (major area) / 1152.80 long-term major weekly channel and 1153.80 weekly channel also 1154 monthly channel and day top and 1154.80 minor weekly channel and 1155 weekly top (very major area) / 1159.30 and 1159.40 long-term major weekly upper channels and 1160.70 minor weekly upper channel (very major area) / 1162.50 and 1163.50 day tops (major area) / 1169 weekly top (major) / 1174.90 major monthly upper channel (major area).
 
Support:  For the March contract -
1123.70 long-term day channel (very major area) / 1122.50 minor day channel and 1121 weekly bottom also 1119.40 GBX bottom (major area) / 1113.80 weekly bottom and 1111.70 long-term major monthly channel also 1110.60 monthly closing price (very major area) / 1108.90 weekly closing gap and 1108.60 GBX bottom (major area) / 1103.80 weekly channel without GBX price and 1103.50 monthly bottom also 1102.30 long-term major day channel and 1102 long-term major weekly channel (very major area) / 1098.50 and 1098.20 minor monthly channels and 1097.20 weekly bottom (very major area) / 1094.40 major weekly channel and 1093.50 weekly closing gap and 1093.30 monthly channel and 1093 GBX weekly bottom (very major area) / 1092.50 and 1090.80 and 1090.20 day bottoms (major area) / 1088 weekly chart's major bottom and 1085.40 weekly closing price (very major area).
 
Comments:
    The sell-off on Wednesday from the resistance area brought prices below the major weekly channel closing the session in neutral to bearish territory.  A trade below the 1122.50 - 1119.40 area can bring prices down to challenge the 1111.70 major monthly support area, which can possibly stimulate some substantial rallies.  A trade below 1111.70 will be the first major signal of a trend change to the downside.  A trade below 1102 and 1098.20 support areas will confirm the downtrend intact for lower prices to follow.  A trade today above 1133 and 1136 area is slightly bullish but only a trade above 1145.40 can bring any solid bullishness back to the chart.  Remain defensive inside the first trading area between the 1127.50 - 1128.10 resistance area and the 1122.50 - 1119.40 support area.
 
Day trades:  For The March contract -
 
Aggressive traders can buy dips near 1122.50 - 1119.40 area or sell rallies near 1126 - 1128 area, whichever side comes first, to complete the trade.  (Use a sell stop and rev. short at 1117.70).  (Use a buy stop and rev. long at 1130.30).
 
Aggressive traders can attempt long positions near 1113.80 - 1111.70 area for obj. near 1118 - 1120 area and possibly near 1122.  (Use a sell stop and rev. short at 1107).
 
Aggressive traders can sell rallies near 1133 - 1136 area for obj. near 1130 - 1128 area.  (Use a buy stop and rev. long at 1139.30).
 
Buy stop at 1130.30 for obj. near 1132 - 1133 area and possibly near 1136.
Buy stop at 1139 for obj. near 1141 - 1142 area and possibly near 1145.40.
 
Sell stop at 1118 for obj. near 1115 - 1113.80 area and possibly near 1111.70.
Sell stop at 1107 for obj. near 1105 - 1103.50 area and possibly near 1102.
 

* 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 02/05/04 (9:27 am est)

 
It appears short positions will be taken on the open near 1126 - 1127 area.  If so traders should look to exit near 1123.50 - 1122.50 area and take profits.

Bulletin - Originally sent 02/05/04 (9:52 am est)

 
Short positions were taken on the open at 1127.  The sell-off down to 1124.50 is near enough to the 1123.50 obj. for traders to consider taking profits and complete the trade.

Bulletin - Originally sent 02/05/04 (11:55 am est)

 
The sell-off down to 1123 was near enough to the 1122.50 buy area and put traders into long positions.  The rally up to 1125.80 is near enough to the 1126 obj. and completes the trade.

Bulletin - Originally sent 02/05/04 (1:18 pm est)

 
Long positions were taken again at 1123.50.  The rally up to 1127 meets the obj. and completes the trade.
 
The rally up to the high end of the sell area at 1128 put traders into short positions again.  The obj. is now at 1125.50 - 1124.50 area.  Continue to use a buy stop and rev long at 1130.30

Bulletin - Originally sent 02/05/04 (1:43 pm est)

 
Cancel the buy stop at 1130.30 and bring it up to 1131.20 to rev long.

Bulletin - Originally sent 02/05/04 (2:40 pm est)

 
The buy stop and rev long was changed from 1130.30 to 1131.20.  If the buy stop gets hit at 1131.20 the obj. will then be 1133 - 1136 area, where short positions will be considered again.

Bulletin - Originally sent 02/05/04 (3:22 pm est)

 
The short position that was taken at 1128 meet the obj. at 1125.50 and completed the trade.

Bulletin - Originally sent 02/05/04 (3:26 pm est)

 
Cancel the buy stop at 1131.20. 
 
The 1133 - 1136 area will still be considered a sell area today for short positions.

 

Bulletin - Originally sent 02/05/04 (3:46 pm est)

 
After the rally from the 1124.80 support and the sell-off again from the 1129.70 resistance, put the market in total neutral condition.  A trade above the 1130.20 top can prove to be bullish enough at this time to bring higher prices from the technical support that has been developing over the course of today.
 
It is recommended for traders to cancel the sell at the 1133 - 1136 area and wait for tomorrow's signals.  A close above the 1130 area today will put the chart slightly into bullish conditions for tomorrow.

Results:  02/05/04

Sold @ 1127 Bought @ 1124.50 = + $   625.00     bought as per bulletin
Sold @ 1127 Bought @ 1123.50 = + $   875.00
Bought @ 1123 Sold @ 1125.70 = + $   675.00
Bought @ 1123.50 Sold @ 1127 = + $   875.00
Sold @ 1128 Bought @ 1125.50 = + $   625.00     sold as per bulletin
Total (P & L)    + $3,675.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 2-06-04 :  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 -
1127.20 intra-day channel and 1127.80 minor day channel with GBX prices (major area) / 1129.50 intra-day channel and 1129.70 peak also 1130 major day channel and 1130.20 day top (very major area) / 1132.30 day top and 1133 day gap also 1133.60 GBX top and 1134 day channel (very major area) / 1136.50 day top (major) / 1142 day top (major) / 1145.40 long-term major monthly channel and 1146 minor day channel (very major area) / 1147.30 peak and 1148 day top (major area) / 1152.80 long-term major weekly channel and 1153.80 weekly channel also 1154 monthly channel and day top and 1154.80 minor weekly channel and 1155 weekly top (very major area) / 1159.30 and 1159.40 long-term major weekly upper channels and 1160.70 minor weekly upper channel (very major area) / 1162.50 and 1163.50 day tops (major area) / 1169 weekly top (major) / 1174.90 major monthly upper channel (major area).
 
Support:  For the March contract -
1126 base and 1125.50 intra-day channel also 1124.80 base (major area) / 1124 newly developed long-term day channel and 1123 double day bottom (very major area) / 1122.30 GBX bottom and 1121.80 minor channel with GBX prices also 1121 weekly bottom and 1119.40 GBX bottom (major area) / 1113.80 weekly bottom and 1111.70 long-term major monthly channel also 1110.60 monthly closing price (very major area) / 1108.90 weekly closing gap and 1108.60 GBX bottom (major area) / 1103.80 weekly channel without GBX prices and 1103.60 long-term major day channel also 1103.50 monthly bottom and 1102 long-term major weekly channel (very major area) / 1098.50 and 1098.20 minor monthly channels and 1097.20 weekly bottom (very major area) / 1094.40 major weekly channel and 1093.50 weekly closing gap also 1093.30 monthly channel and 1093 GBX weekly bottom (very major area) / 1092.50 and 1090.80 and 1090.20 day bottoms (major area) / 1088 weekly chart's major bottom and 1085.40 weekly closing price (very major area).
 
Comments:
    The narrow whiplashing action on Thursday proved the neutral conditions in this area.  This neutral condition leaves the chart neutral and very defensive inside an even narrower trading area between the 1130 - 1134 resistance and the 1124 - 1121.90 support.  A breakout to either side will challenge the major trading area between the 1145.40 major resistance and the 1111.70 major support.  Remain defensive inside the first trading area until a solid direction is established. 
 
Day trades:  For The March contract -
 
Aggressive traders can sell rallies near 1127 - 1130 area or buy dips near 1125.50 - 1124 area, whichever side comes first, to complete the trade.  (Use a buy stop and rev. long at 1131.60).  (Use a sell stop and rev. short at 1118.60).
 
Aggressive traders can attempt short positions near 1144 - 1146 area for obj. near 1140 - 1138 area and possibly near 1136.  (Use a buy stop and rev. long at 1149.30).
 
Aggressive trader can attempt long positions near 1113.80 - 1111.70 area and if possible near 1108.90 gap for obj. near 1118 - 1120 area and possibly near 1122.  (Use a sell stop and rev. short at 1107).
 
Buy stop at 1131.60 for obj. near 1133 - 1134 area.
Buy stop at 1138.30 for obj. near 1141 - 1142 area and possibly near 1145.40.
Buy stop at 1149.30 for obj. near 1151.30 - 1152.80 area.
 
Sell stop at 1118.60 for obj. near 1115 - 1113.80 area and possibly near 1111.70.
Sell stop at 1107 for obj. near 1105 - 1103.80 area and possibly near 1102. 
 

* 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 02/06/04 (9:44 am est)

 
Short positions were taken on the opening at 1129.50.  Because of the technical support that has developed from yesterday, and the rally above the 1130 level, puts the chart in slightly bullish conditions.
 
It is recommended for traders to exit the short position at the market, which is trading at 1128.50 and take a small profit and scratch the trade.

Bulletin - Originally sent 02/06/04 (10:10 am est)

The buy stop at 1131.60 was hit putting traders into long positions.  The rally up to 1133 meets the obj. and completes the trade. 

Bulletin - Originally sent 02/06/04 (10:48 am est)

 
The buy stop was hit at 1138.30 putting traders into long positions.  The market is proving to show resistance at 1139.70 because of the very major resistance area at 1145.40.
 
It is recommended for traders to exit the long positions at 1138 and scratch the trade. 

Results:    02/06/04

Sold @ 1129.50 Bought @ 1128.50 = + $   250.00
Bought @ 1131.60 Sold @ 1133 = + $   350.00
Bought @ 1138.30 Sold @ 1138   = -  $     75.00
TOTAL (P & L)    + $   525.00
  
The week in review - 02/09/04 - 02/13/04
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 2-09-04 :  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 -
1140.50 day channel and 1141.20 minor day channel also 1141.80 intra-day channel and 1142 double top (major area) / 1145 minor day channel and 1145.40 long-term monthly channel (very major area) / 1148 day top and 1150.70 long-term major weekly channel (very major area) / 1152.70 weekly channel and 1154 monthly channel also 1154 day top and 1154.50 minor weekly channel also 1155 weekly top and 1156.80 weekly top (very major area) / 1162.50 and 1163.50 day tops also 1163.60 and 1163.70 long-term major weekly upper channel (very major area) / 1166.40 minor weekly upper channel and 1169 weekly top (major area) / 1174.90 major monthly upper channel (major area) / 1177 and 1178.50 monthly double top area and 1180 weekly closing gap in the March contract (very major area) / 1187 minor weekly upper channel and 1187.50 weekly closing price also 1189.50 weekly top (major area) / 1191.20 weekly closing price and 1193 minor weekly upper channel (major area).
 
Support:  For the March contract -
1137.30 intra-day channel also 1137.20 and 1136.30 base also 1135.80 and 1135.30 base (major area) / 1131.80 and 1131 newly developed weekly channel also 1131 and 1129.70 minor day channels (very major area) / 1127 day bottom and 1126.40 day gap also 1126 GBX bottom and 1125.70 major day channel (very major area) / 1123.70 minor day channel and 1123 weekly bottom also 1122.30 GBX weekly bottom (very major area) / 1121 weekly bottom and 1119.40 GBX bottom (major area) / 1113.80 weekly bottom and 1111.70 long-term major monthly channel also 1110.60 monthly closing price and 1110.10 weekly channel without GBX prices (very major area) / 1108.90 weekly closing gap and 1108.70 long-term major weekly channel also 1108.60 GBX bottom (very major area) / 1103.50 monthly bottom (major area) / 1098.50 and 1098.20 minor monthly channels and 1097.20 weekly bottom (very major area) / 1093.50 weekly closing gap and 1093.30 monthly channel also 1093 GBX weekly bottom (very major area).
 
Comments:
    The rally on Friday from the support area was significant bringing prices up near the double top and 1142 and still facing the 1145.40 major monthly channel.  A trade above the 1145.40 monthly channel is bullish and can bring prices up to challenge the double top areas at 1148, 1154 and 1155.  A trade above 1163.80 will be considered a breakout for prices to challenge the 1177 - 1178.50 major double top area.  A trade below 1131.80 - 1131 area is slightly bearish but a trade below 1125.70 - 1123.70 channels and 1122.30 - 1121 bottoms can bring prices down to challenge the 1111.70 major monthly channel.  Only a trade below 1111.70 can possibly change the major trend to the downside.  Remain defensive inside the 1141 - 1131 first trading range and the 1145.40 - 1125.70 major trading range.
   
Day trades:  For The March contract -
 
Aggressive traders can sell rallies near 1140 - 1141 or buy dips near 1138 - 1137.30 area, whichever side comes first to complete the trade.  (Use a buy stop and rev. long at 1143.70).  (Use a sell stop and rev. short at 1135).
 
Aggressive traders can sell rallies near 1144.70 - 1145.40 area for obj. near 1142 - 1139 area.  (Use a buy stop and rev. long at 1148.70).
 
Buy stop at 1143.70 for obj. near 1144.70 - 1145.40 area.
Buy stop at 1148.70 for obj. near 1150 - 1152 area.
Buy stop at 1158.70 for obj. near 1162 - 1164 area.
 
Sell stop at 1135 for obj. near 1132.80 - 1131.80 area.
Sell stop at 1118 for obj. near 1115 - 1111.70 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 02/09/04 (9:51 am est)

 
 Short positions were taken on the open at 1141.50.  The sell-off down to 1139.30 seems worthy enough to take profits due to the fact on the  neutral conditions at this time.

Bulletin - Originally sent 02/09/04 (9:58 am est)

 
Since the first trade is now complete with a sell at 1141.50 and a buy at 1139.50 it is recommended to cancel the buy stop and rev. long at 1143.70.  The buy at 1143.70 is too risky to meet the obj. at this time due to the fact of the significance of the 1145.40 resistance.  The sell at 1144.70 - 1145.40 will remain for short positions to be taken.

Results:    02/09/04

Sold @ 1141.50 Bought @ 1139.50   = + $   500.00    
Bought @ 1138 Sold @ 1140 = + $   500.00
TOTAL (P & L)    + $1,000.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 2-10-04 :  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 -
1141.50 and 1141.70 peaks (major area) / 1142.70 and 1142.90 peaks (major area) / 1143.20 minor day channel and 1143.80 day top also 1144 minor day channel and 1145.40 long-term major monthly channel (very major area) / 1148 day top (major) / 1150.70 long-term weekly channel and 1152.70 weekly channel (very major area) / 1154 monthly channel and 1154 day top also 1154.50 minor weekly channel and 1155 weekly top also 1156.80 weekly chart's top (very major area) / 1162.50 and 1163.50 day tops also 1163.60 and 1163.70 long-term major weekly upper channel (very major area) / 1166.40 minor weekly upper channel and 1169 weekly top (major area) / 1174.90 major monthly upper channel (major area) / 1177 and 1178.50 monthly double top area and 1180 weekly closing gap in the March contract (very major area) / 1187 minor weekly upper channel and 1187.50 weekly closing price also 1189.50 weekly top (major area) / 1191.20 weekly closing price and 1193 minor weekly upper channel (major area).
 
Support:  For the March contract -
1138 day bottom and 1137.10 base (major area) / 1136.30 and 1135.80 base also 1135 minor day channel (major area) / 1133.40 minor GBX channel (major) / 1131.80 and 1131 weekly channels (very major area) / 1127.50 minor day channel and 1127 day bottom also 1126.40 day gap and 1126.10 minor weekly channel also 1126 GBX bottom and 1125.10 minor weekly channel with GBX prices (very major area) / 1123.80 minor day channel and 1123 weekly bottom also 1122.30 GBX weekly bottom (major area) / 1121 weekly bottom and 1119.40 GBX bottom (major area) / 1113.80 weekly bottom and 1111.70 long-term major monthly channel also 1110.60 monthly closing price and 1110.10 weekly channel without GBX prices (very major area) / 1108.90 weekly closing gap and 1108.70 long-term major weekly channel also 1108.60 GBX bottom (very major area) / 1103.50 monthly bottom (major area) / 1098.50 and 1098.20 minor monthly channels and 1097.20 weekly bottom (very major area) / 1093.50 weekly closing gap and 1093.30 monthly channel also 1093 GBX weekly bottom (very major area).
 
Comments:
    The narrow trading range on Monday leaves the chart neutral inside the 1143.20 - 1135 trading area.  The major trading area is now between 1145.40 and 1131.  A trade above 1145.40 is bullish for prices to challenge the 1148, 1154 and 1155 top areas and a trade below 1131 is bearish for prices to challenge the 1125.10 - 1123.80 area.  Below 1121 - 1119.40 area can bring prices down to challenge near the 1111.70 major support area.  Remain defensive until the market can prove a solid direction.
       
Day trades:  For The March contract -
 
Aggressive traders can buy dips near 1137 - 1135 area or sell rallies near 1143 - 1145.40 area, whichever side comes first, to complete the trade.  (Use a sell stop and rev. short at 1133).  (Use a buy stop and rev. long at 1146.70).
 
Aggressive traders can buy dips near 1131.80 - 1131 area for obj. near 1135 - 1138 area.  (Use a sell stop and rev. short at 1129.70).
 
Buy stop at 1146.70 for obj. near 1148 - 1150.70 area and possibly near 1152.70.
Buy stop at 1158 for obj. near 1161 - 1163.70 area.
 
Sell stop at 1129.70 for obj. near 1127.50 - 1126.10 area.
Sell stop at 1118 for obj. near 1114 - 1111.70 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 02/10/04 (9:26 am est)

 
In the first trade the sell stop and rev. short at 1133 is being changed to 1134.70. 
 
Sell stop at 1134.70 for obj. near 1132 - 1131 area. 

Bulletin - Originally sent 02/10/04 (9:39 am est)

 
The sell off down to 1137.50 is near enough to the 1137 buy area, putting traders into long positions.  The obj. is now changed to 1142 - 1144 area.  (Continue to use a sell stop and rev. short at 1134.70).

Bulletin - Originally sent 02/10/04 (10:06 am est)

 
Long positions were taken at 1137.80.  The rally up to 1141 is near enough to the 1142 obj. for traders to consider taking profits and completes this trade.

Bulletin - Originally sent 02/10/04 (11:09 am est)

 
The rally up to 1143.50 brought prices to the sell area putting traders into short positions.  Short positions were taken at 1143.  The obj. at this time is near 1140.50 - 1139.  (Continue to use a buy stop and rev. long at 1146.70).

Bulletin - Originally sent 02/10/04 (11:33 am est)

 
Short positions were taken at 1143.  The market is showing signs of support at the 1142.10 area that could possibly bring prices up near the 1145.40 resistance. 
 
It is recommended for traders to exit the short positions at the market, which is trading at 1141.80 and take the small profits and complete the trade. 

Bulletin - Originally sent 02/10/04 (11:37 am est)

 
Aggressive traders can attempt short positions near 1145 - 1145.40 area.  The obj. for this short position will be near 1142.50 - 1141.50 area.  (Continue to use a buy stop and rev. long at 1146.70).

Bulletin - Originally sent 02/10/04 (1:44 pm est)

 
Short positions were taken at the major resistance at 1145.40.  The sell off down to 1144.20 is showing signs of support and because the market traded above the 1145.40 resistance, it is not worth holding the short position at this time. 
 
Exit all short positions at the market, which is trading at 1144.80 at this time.

Results:    02/10/04

Bought @ 1137.80 Sold @ 1140.80 = + $   750.00
Sold @ 1143 Bought @ 1142 = + $   250.00
Sold @ 1145.40 Bought @ 1144.80   = + $   150.00
TOTAL (P & L)    + $1,150.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 2-11-04 :  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 -
1144.40 intra-day channel and 1144.70 peak (major area) / 1145.70 and 1145.80 newly developed day channels also 1145.80 peak and 1146.30 newly developed minor day channel and 1146.50 day top (major area) / 1148 day top (major) / 1150.70 long-term weekly channel and 1152.70 weekly channel (very major area) / 1154 monthly channel and 1154 day top also 1154.50 minor weekly channel and 1155 weekly top also 1156.80 weekly chart's top (very major area) / 1162.50 and 1163.50 day tops also 1163.60 and 1163.70 long-term major weekly upper channel (very major area) / 1166.40 minor weekly upper channel and 1169 weekly top (major area) / 1174.90 major monthly upper channel (major area).
 
Support:  For the March contract -
1142.90 newly developed minor day channel (major) / 1141.50 intra-day channel (major) / 1140.80, 1140.70 and 1140.40 base area also 1139 minor day channel without GBX prices (major area) / 1137.60 day bottom and 1137.10 minor day channel with GBX prices also 1136.30 and 1135.80 base area (major area) / 1131.80 and 1131 weekly channels (very major area) / 1129.20 major day channel (very major area) / 1127 day bottom and 1126.40 day gap also 1126.10 minor weekly channel and 1126 GBX bottom also 1125.10 minor weekly channel with GBX prices (very major area) / 1123 weekly bottom and 1122.30 GBX weekly bottom (major area) / 1121 weekly bottom and 1119.40 GBX bottom (major area) / 1113.80 weekly bottom and 1111.70 long-term major monthly channel also 1110.60 monthly closing price and 1110.10 weekly channel without GBX prices (very major area) / 1108.90 weekly closing gap and 1108.70 long-term major weekly channel also 1108.60 GBX bottom (very major area) / 1103.50 monthly bottom (major area) / 1098.50 and 1098.20 minor monthly channels and 1097.20 weekly bottom (very major area).
 
Comments:
    Tuesday's session managed to hold the support and break above the 1145.40 major monthly channel putting some bullishness back into the chart.  Today a trade above 1145.80 - 1146.50 area can bring prices up to challenge the 1148 top, 1150.70 major weekly channel and possibly near the 1155 top area.  At this time, the 1155 area, if it materializes, will be considered a double top and a selling area.  A trade today below 1139 - 1137.10 area will be slightly bearish but only a trade below 1131 - 1129.20 can bring any substantial bearishness back to the chart.  Remain defensive inside the 1145.80 - 1139 first neutral trading area.  
         
Day trades:  For The March contract -
 
Aggressive traders can buy dips near 1139.50 - 1137.50 area or sell rallies near 1144 - 1145.80 area, whichever side comes first, to complete the trade.  (Use a sell stop and rev. short at 1135).  (Use a buy stop and rev. long at 1147).
 
Aggressive traders can sell rallies near 1150.50 - 1152 area and if possible near 1155 for obj. near 1147 - 1144 area.  (Use a buy stop and rev. long at 1158).
 
Aggressive traders can buy dips near 1132 - 1131 area for obj. near 1135 - 1138 area.  (Use a sell stop and rev. short at 1128.70).
 
Buy stop at 1147 for obj. near 1149 - 1150.70 area and possibly near 1152.70.
Buy stop at 1158 for obj. near 1161 - 1163.70 area.
 
Sell stop at 1135 for obj. near 1132 - 1131 area.
Sell stop at 1128.70 for obj. near 1127 - 1126.40 day gap and possibly near 1125.10.
Sell stop at 1118 for obj. near 1114 - 1111.70 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 02/11/04 (10:09 am est)

 
The rally up to 1143.80 was near enough to the 1144 sell area putting traders into short positions.  The obj. can now be 1141 - 1139.50 area to complete the trade.  Continue to use a buy stop and rev long at 1147.

Bulletin - Originally sent 02/11/04 (10:43 am est)

 
Short positions were taken at 1143.70.  The intra-day double bottom at 1141.50 is showing signs of support for traders to exit short positions and take profits.  This completes the first trade.

Bulletin - Originally sent 02/11/04 (11:49 am est)

 
The buy stop was hit at 1147 putting traders into long positions.  The rally up to 1149 - 1152 are meets the obj. and completes the trade.

Bulletin - Originally sent 02/11/04 (2:06 pm est)

 
The buy stop was hit at 1158, putting traders into long positions.  The rally at this times seems too high, too fast for this area and can possibly turn out to be a top formation.
 
It is recommended for traders to exit the long position taken at 1158 and scratch the trade.  The market is trading at 1158 at this time.

Results:    02/11/04

Sold @ 1143.70 Bought @ 1141.50 = + $   550.00     bought as per bulletin
Bought @ 1147 Sold @ 1151 = + $1,000.00
Sold @ 1151 Bought @ 1158 = -  $1,750.00
Bought @ 1158 Sold @ 1158   =    $     -0-         sold as per bulletin
TOTAL (P & L)    -  $   200.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 2-12-04 :  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 -
1155.90 intra-day channel and 1156.10 peak also 1156.90 peak (major area) / 1158.50 day top (major) / 1162.50 and 1163.50 day tops also 1163.60 and 1163.70 long-term major weekly upper channel (very major area) / 1166.40 minor weekly upper channel and 1169 weekly top (major area) / 1174.90 major monthly upper channel (major area) / 1177 and 1178.50 monthly double top area and 1180 weekly closing gap in the March contract (very major area) / 1187 minor weekly upper channel and 1187.50 weekly closing price also 1189.50 weekly top (major area) / 1191.20 weekly closing price and 1193 minor weekly upper channel (major area).
 
Support:  For the March contract -
1154.70 base and 1153.60 minor intra-day channel (major area) / 1152.20 intra-day gap and 1150.80 base also 1150.30 and 1149.20 base (major area) / 1146.50 and 1146.20 newly developed day channels also 1145.70 base and 1145.20 minor day channel (very major area) / 1143 minor day channel and 1142.80 intra-day gap (major area) / 1141.70 base and 1141.40 day bottom also 1140.80 minor GBX channel (major area) / 1137.60 day bottom and 1135.80 base (major area) / 1131.80 and 1131 weekly channels also 1131.70 and 1130.90 major day channels (very major area) / 1127 day bottom and 1126.40 day gap also 1126.10 minor weekly channel and 1126 GBX bottom (major area) / 1125.10 minor weekly channel with GBX prices and 1124.80 minor day channel (very major area) / 1123 weekly bottom and 1122.30 GBX weekly bottom (major area) / 1121 weekly bottom and 1119.40 GBX bottom (major area) / 1113.80 weekly bottom and 1111.70 long-term major monthly channel (very major area).
 
Comments:
    The rally on Wednesday brought prices slightly above the 1155 major top area but technically is considered a double top formation, which is still a sell until it proves to trade into new highs.  A trade above 1162.50 - 1163.70 area will be considered a breakout for prices to possibly challenge the 1177 - 1178.50 major double to area.  A trade today below 1146.50 - 1145.20 area is slightly bearish but only a trade below 1131.80 - 1130.90 area can bring any solid bearishness back to the chart.  Remain defensive inside the first trading area between 1156.90 and 1152.20 and also the major trading area between 1163.70 and 1145.20.
             
Day trades:  For The March contract -
 
Aggressive traders can sell rallies near 1155.90 - 1156.90 area or buy dips near 1153.60 - 1152.20 area, whichever side comes first, to complete the trade.  (Use a buy stop and rev. long at 1160.80).  (Use a sell stop and rev. short at 1149).
 
Aggressive traders can buy dips near 1146.50 - 1145.20 area for obj. near 1149 - 1152 area.  (Use a sell stop and rev. short at 1144.70).
 
Aggressive traders can sell rallies near 1162.50 - 1163.70 area for obj. near 1160 - 1158 area.  (Use a buy stop and rev. long at 1164.70).
 
Buy stop at 1160.80 for obj. near 1162.50 - 1163.70 area.
Buy stop at 1164.70 for obj. near 1166.40 - 1169 area.
Buy stop at 1171 for obj. near 1173 - 1174.90 area.
 
Sell stop at 1149 for obj. near 1147 - 1145.20 area.
Sell stop at 1144.70 for obj. near 1143 - 1140.80 area.
Sell stop at 1139.50 for obj. near 1137.50 - 1135.80.
 

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

Bulletin - Originally sent 02/12/04 (10:00 am est)

 
Long positions were taken in the buy area at 1153.60.  The rally up to 1155.30 is near enough to the 1155.90 obj. and completes the trade.

Bulletin - Originally sent 02/12/04 (10:18 am est)

 
Short positions were taken at the high end of the sell area at 1156.70.  The obj. for this trade is near 1154.70 - 1154.

Bulletin - Originally sent 02/12/04 (10:55 am est)

 
Short positions were taken at 1156.70.  The market continues to show support at the 1155.20 - 1155.80 area.
 
It is recommended to exit the short position at 1155.50 and take a small profit and scratch the trade.

Results:    02/12/04

Bought @ 1153.60 Sold @ 1155.30   = + $   425.00    
Sold @ 1156.70 Bought @ 1155.50 = + $   300.00
TOTAL (P & L)    + $   725.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 2-13-04 :  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 -
1152.50 intra-day channel and peak also 1153.20 peak (major area) / 1154.30 and 1154.70 peaks also 1156.10 newly developed minor day channel (very major area) / 1157.30 and 1158.50 day tops (major area) / 1162.50 and 1163.50 day tops also 1163.60 and 1163.70 long-term major weekly upper channel (very major area) / 1166.40 minor weekly upper channel and 1169 weekly top (major area) / 1174.90 major monthly upper channel (major area) / 1177 and 1178.50 monthly double top area and 1180 weekly closing gap in the March contract (very major area) / 1187 minor weekly upper channel and 1187.50 weekly closing price also 1189.50 weekly top (major area) / 1191.20 weekly closing price and 1193 minor weekly upper channel (major area).
 
Support:  For the March contract -
1151 day channel and 1150.50 day bottom (major area) / 1149.20 base and 1149 and 1147 minor day channels (very major area) / 1141.40 day bottom (major) / 1139 weekly closing price and 1137.60 day bottom (major area) / 1133.40 and 1132.60 major day channels also 1131.80 and 1131 weekly channels (very major area) / 1127 day bottom and 1126.40 day gap also 1126.10 minor weekly channel and 1126 GBX bottom also 1125.30 minor day channel and 1125.10 minor weekly channel with GBX prices (very major area) / 1123 weekly bottom and 1122.30 GBX weekly bottom (major area) / 1121 weekly bottom and 1119.40 GBX bottom (major area) / 1113.80 weekly bottom and 1111.70 long-term major monthly channel (very major area).
 
Comments:
    Thursday's session remained inside the first trading area leaving the chart neutral inside another narrow trading area between 1156.10 and 1147.  A trade above 1156.10 - 1158 area can bring prices up to challenge the 1162.50 - 1163.70 resistance area.  A trade above 1163.70 will be considered a breakout for prices to possibly reach up near the 1177 - 1178.50 major top area.  A trade today below 1147 is slightly bearish but only a trade below the 1133.40 - 1132.60 day channels and 1131.80 - 1131 weekly channels can bring any solid bearishness back to the chart.  Remain defensive inside the first 1156.10 - 1147 trading area until a confirmation of direction can be established.   
                 
Day trades:  For The March contract -
 
Aggressive traders can sell rallies near 1152.50 - 1154 area and if possible near 1156.10 area for obj. near 1151 - 1149 area.  (Use a buy stop and rev. long at 1159.50).
 
Aggressive traders can buy dips near 1149 - 1147 area for obj. near 1151 - 1152.50 area.  (Use a sell stop and rev. short at 1144.70).
 
Buy stop at 1159.50 for obj. near 1161.50 - 1163.70 area.
Buy stop at 1164.70 for obj. near 1166.40 - 1169 area.
Buy stop at 1171 for obj. near 1173 - 1174.90 area.
 
Sell stop at 1144.70 for obj. near 1142 - 1139 area.
Sell stop at 1136 for obj. near 1134 - 1133.40 area and possibly near 1131.80.
Sell stop at 1129 for obj. near 1127 - 1126.40 gap area and possibly near 1125.10.
 

* 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 02/13/04 (10:06 am est)

 
Short positions were taken at 1153.  The sell-off down to 1151 meets the obj and completes the trade.

Bulletin - Originally sent 02/13/04 (10:31 am est)

 
Short positions were taken at the high end of the sell area at 1156.  The sell off down to 1151.50 is near enough to the 1151 obj. and completes the trade.

Bulletin - Originally sent 02/13/04 (10:48 am est)

 
The sell off down to 1149 - 1147 area put traders into long positions.  The obj. remains near 1151 area.  (Continue to use a sell stop and rev. short at 1144.70).

Bulletin - Originally sent 02/13/04 (12:08 am est)

 
The market failed to meet the obj. at 1151 for the long position taken at 1148.  The sell off just missed hitting the sell stop at 1144.70.  The low is now 1144.80. 
 
It is recommended to exit all long positions at the market, which is trading at 1145.50 and cut losses.

Bulletin - Originally sent 02/13/04 (12:24 am est)

 
The 1144.70 sell stop was hit, putting traders into short positions.  The sell off down to 1143 meets the obj. and completes the trade.

Results:    02/13/04

Sold @ 1153 Bought @ 1151 = + $   500.00     
Sold @ 1156 Bought @ 1151 = + $1,250.00
Bought @ 1148 Sold @ 1145.50 = -  $   625.00
Sold @ 1144.70 Bought @ 1143   = + $   425.00     
TOTAL (P & L)    + $1,550.00
The week in review - 02/17/04 - 02/20/04
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 2-17-04 :  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 -
1146 peak and 1146.10 intra-day channel also 1146.30 and 1147 peaks (major area) / 1148.40 peak and 1148.60 rev. channel (major area) / 1152.20 peak and 1154.90 minor day channel (major area) / 1156.40 long-term major weekly channel and 1156.70 day top also 1157.30 day top and 1157.40 weekly channel (very major area) / 1158.30 long-term minor weekly channel and 1158.50 weekly top also 1159.60 minor day channel (major area) / 1162 minor weekly upper channel also 1162.50 and 1163.50 day tops (very major area) / 1167.80 and 1168.10 long-term major weekly upper channels also 1169 weekly top (very major area) / 1172.10 minor weekly upper channel (major) / 1174.90 major monthly upper channel (very major area) / 1177 and 1178.50 monthly double top area and 1180 weekly closing gap in the March contract (very major area) / 1187 weekly closing price and 1189.50 weekly top (major area).
 
Support:  For the March contract -
1144.90 minor day channel and 1143.70 base (major area) / 1142.60 minor day channel and 1142 day bottom also 1141.40 day bottom and 1140.50 and 1139.70 major weekly channels (very major area) / 1137.60 weekly bottom also 1136.90 and 1136.10 long-term major day channels one without and one with GBX prices (very major area) / 1129.90 monthly closing price and 1127 day bottom also 1126.40 day gap and 1126.30 minor day channel and 1126 GBX bottom (very major area) / 1123 weekly bottom and 1122.30 GBX weekly bottom also 1121 weekly bottom and 1119.40 GBX bottom (major area) / 1116.50 weekly channel without GBX prices and 1115.30 long-term major weekly channel (very major area) / 1111.70 long-term major monthly channel (very major area) / 1106.20 major weekly channel and 1103.50 monthly bottom (very major area) / 1098.50 and 1098.20 monthly channels and 1097.20 weekly bottom (major area) / 1093.50 weekly closing gap and 1093.30 monthly channel also 1093 GBX weekly bottom (very major area).
 
Comments:
    The sell off on Friday from the major resistance proved the significance of the area but prices managed to close up from last Friday's close leaving the chart neutral and defensive to swing either way.  The technical double top can possibly prove to outweigh the support, which can stimulate selling pressure down to the next major support.  Only a trade below 1111.70 can bring any significant bearishness and can possibly change the trend to the downside.  A trade above the 1158.50 top and 1062 channel can possibly bring prices up to challenge the 1177 - 1178.50 major top area.  Remain defensive inside the first trading area between 1154.90 and 1144.90 area until a direction is established.
                     
Day trades:  For The March contract -
 
Aggressive traders can sell rallies near 1147 - 1148.60 area for obj. near 1144.90 - 1143.70 area.  (Use a buy stop and rev. long at 1150).
 
Aggressive traders can sell rallies near 1154.90 and if possible near 1156.40 - 1157.40 area for obj. near 1150 - 1149 area.  (Use a buy stop and rev. long at 1160.60).
 
Aggressive traders can buy dips near 1138 - 1136.10 area for obj. near 1141 - 1143 area.  (Use a sell stop and rev. short at 1133).
 
Buy stop at 1150 for obj. near 1152 - 1154 area.
Buy stop at 1160.60 for obj. near 1162 and possibly near 1163.50 area.
 
Sell stop at 1143 for obj. near 1141 - 1139.90 area.
Sell stop at 1133 for obj. near 1130 - 1127 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 02/17/04 (3:57 pm est)

 
Long positions were taken at 1154.90 and again at 1157.40.  The entire day has passed without a sell-off, holding support in the narrow trading range.  Because of the neutral condition the direction remains a toss of a coin.
 
It is recommended for traders to exit the short positions at a small profit at 1155.60, which is where it is trading at this time, and scratch the trade.

Results:    02/17/04

Sold @ 1154.90 Bought @ 1155.60   = -  $   175.00    
Sold @ 1157.40 Bought @ 1155.60 = + $   450.00
TOTAL (P & L)    + $   275.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 2-18-04 :  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 -
1158.70 day top and 1159.90 minor daily upper channel (major area) / 1162 minor weekly upper channel also 1162.50 and 1163.50 day tops (very major area) / 1167.80 and 1168.10 long-term major weekly upper channels also 1169 weekly top (very major area) / 1172.10 minor weekly upper channel (major) / 1174.90 major monthly upper channel (very major area) / 1177 and 1178.50 monthly double top area and 1180 weekly closing gap in the March contract (very major area) / 1187 weekly closing price and 1189.50 weekly top (major area).
 
Support:  For the March contract -
1155.50, 1155.20 and 1154.80 base (major area) / 1152.30 day bottom and 1151.70 day channel also 1151.50 and 1150.80 day channels with GBX prices (major area) / 1147.60 GBX bottom and 1146.40 minor day channel also 1145.70 weekly closing gap and 1145.20 GBX bottom (very major area) / 1142.90 minor day channel and 1142 day bottom also 1141.40 day bottom (major area) / 1140.50 and 1139.70 major weekly channels (very major area) / 1138.60 day channel without GBX prices and 1137.80 long-term major day channels with GBX prices also 1137.60 weekly bottom (major area) / 1129.90 monthly closing price (major) / 1127 day bottom and 1126.80 minor day channel also 1126.40 day gap and 1126 GBX bottom (very major area) / 1123 weekly bottom and 1122.30 GBX weekly bottom (major area) / 1121 weekly bottom and 1119.40 GBX bottom (major area) / 1116.50 weekly channel without GBX prices and 1115.30 long-term major weekly channel (very major area) / 1111.70 long-term major monthly channel (very major area).
 
Comments:
    The rally and tight trading range seen on Tuesday managed to close at its highest settling price bringing a neutral to bullish conditions back to the chart.  A trade above 1159.90 and 1162 channels is bullish and can bring prices up to challenge the 1167.50 - 1168.10 channels and possibly near the 1174.90 major monthly upper channel and 1177 - 1178.50 major double top areas.  A trade today below 1151.80 - 1150.80 area is slightly bearish but only a trade below 1140.50 - 1139.70 area can bring any solid bearishness back to the chart.  Remain defensive inside the 1159.90 - 1162 resistance and 1151.80 - 1150.80 support areas, which is the first significant trading area for Wednesday's session.
                         
Day trades:  For The March contract -
 
Aggressive traders can sell rallies near 1158.50 - 1159.90 area and if possible near 1162 or buy dips near 1152.50 - 1150.80 area, whichever side comes first, to complete the trade.  (Use a buy stop and rev. long at 1164.50).  (Use a sell stop and rev. short at 1150).
 
Aggressive traders can buy dips near 1140.50 - 1139.70 area for obj. near 1145 - 1147 area.  (Use a sell stop and rev. short at 1136).
 
Buy stop at 1164.50 for obj. near 1167 - 1168 area.
Buy stop at 1170 for obj. near 1173 - 1174.90 area.
 
Sell stop at 1150 for obj. near 1147.50 - 1146.40 area and possibly near 1145.70 gap area.
Sell stop at 1136 for obj. near 1133 - 1129.90 area.
 

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

Bulletin - Originally sent 02/18/04 (12:42 pm est)

 
The sell off down to 1153.20 was near enough to the 1152.50 buy area, putting traders into long positions.  The rally up to 1156.50 - 1157.20 intra-day double top is worthy enough for traders to consider taking profits.  This completes the buy side of the first trade.

Bulletin - Originally sent 02/18/04 (1:33 pm est)

 
Short positions were taken at the 1156.50 - 1156.20 area as per previous bulletin.  The sell off down to 1154.10 is showing signs of support, where traders should consider taking profits.  Exit short positions at the market, which is trading at 1154.70 at this time.  This completes the sell side of the first trade.

Bulletin - Originally sent 02/18/04 (2:53 pm est)

 
The sell stop was hit at 1150 putting traders into short positions.  The sell-off only reach 1148.30 and did not meet the obj. at 1147.50 area.  The market can now develop support in this area.
 
It is recommended for traders to exit the short position at the market, which is trading at 1150 at this time and scratch the trade.

Results:    02/18/04

Bought @ 1153.20 Sold @ 1156.50 = + $   825.00
Sold @ 1156.50 Bought @ 1154.50 = + $   500.00
Sold @ 1150 Bought @ 1150   =    $     -0-         bought as per bulletin
TOTAL (P & L)    + $1,325.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 2-19-04 :  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 -
1152 intra-day channel also 1152.30 and 1152.50 peaks (major area) / 1153.40 intra-day channel (major area) / 1155.30 minor day channel and 1155.50 peak also 1155.70 intra-day channel (very major area) / 1156.40 peak and 1157 day top (major area) / 1158.60 GBX top and 1158.70 day top also 1160.20 minor daily upper channel (major area) / 1162 minor weekly upper channel also 1162.50 and 1163.50 day tops (very major area) / 1167.80 and 1168.10 long-term major weekly upper channels also 1169 weekly top (very major area) / 1172.10 minor weekly upper channel (major) / 1174.90 major monthly upper channel (very major area) / 1177 and 1178.50 monthly double top area and 1180 weekly closing gap in the March contract (very major area) / 1187 weekly closing price and 1189.50 weekly top (major area).
 
Support:  For the March contract -
1151.10 newly developed minor day channel and 1150.80 base also 1150.40 minor day channel (major area) / 1149.80 minor day channel and 1149.70 base also 1148.30 day bottom and 1147.80 minor day channel (very major area) / 1145.70 weekly closing gap and 1145.20 GBX bottom (major area) / 1143.20 minor day channel and 1142 day bottom also 1141.40 day bottom (major area) / 1140.50 and 1139.70 major weekly channels also 1139.60 long-term major day channel (very major area) / 1129.90 monthly closing price (major) / 1127.30 minor day channel and 1127 day bottom and 1126.40 day gap also 1126 GBX bottom (very major area) / 1123 weekly bottom and 1122.30 GBX weekly bottom (major area) / 1121 weekly bottom and 1119.40 GBX bottom (major area) / 1116.50 weekly channel without GBX prices and 1115.30 long-term major weekly channel (very major area) / 1111.70 long-term major monthly channel (very major area).
 
Comments:
    The sell-off on Wednesday from the major resistance was significant eliminating some of the bullishness from the chart leaving it in a neutral condition inside the first trading range between 1155.30 and 1150.40 and neutral inside the weekly range between 1162 and 1139.70.  A trade above 1162 is bullish and can challenge the 1167.80 - 1168.10 resistance area and possibly near 1174.90 and 1177 top area.  A trade today below 1147.80 is slightly bearish but only a trade below 1139.70 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 sell rallies near 1153.40 - 1155.70 area or buy dips near 1152 - 1150.80 area, whichever side comes first, to complete the trade.  (Use a protective buy stop at 1157.30.  Do not rev. long).  (Use a sell stop and rev. short at 1146.30).
 
Aggressive traders can sell rallies near 1161 - 1163 area for obj. near 1159 - 1157 area.  (Use a buy stop and rev. long at 1164.50).
 
Aggressive traders can buy dips near 1140.50 - 1139.70 area for obj. near 1144 - 1147 area.  (Use a sell stop and rev. short at 1136).
 
Buy stop at 1164.50 for obj. near 1167 - 1168 area.
Buy stop at 1170.50 for obj. near 1173 - 1174.90 area.
 
Sell stop at 1146.30 for obj. near 1143.50 - 1140.50 area and possibly near 1139.70.
Sell stop at 1136 for obj. near 1133 - 1129.90 area.
 

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

Bulletin - Originally sent 02/19/04 (9:29 am est)

 
Change the protective buy stop from 1157.20 to 1157.90 on the first trade.  It appears traders will sell on the open at the high end of the sell area.

Bulletin - Originally sent 02/19/04 (9:32 am est)

 
The market opened at the stop area so the first trade was cancelled.

Bulletin - Originally sent 02/19/04 (9:40 am est)

 
The market is showing signs of resistance at the 1158.20 area. 
 
Very Aggressive traders can attempt short positions at the market, which is trading at 1157.50 at this time for an obj. near 1153 - 1151.20 area.  The buy stop must be placed above the next sell area at 1164.50.  It is still considered a sell for additional contacts at 1162.

Bulletin - Originally sent 02/19/04 (10:22 am est)

 
Short positions were taken at 1157.50.  The sell-off down to 1153.80 seems worthy enough to consider taking profits.  This completes the first trade.

Bulletin - Originally sent 02/19/04 (4:08 pm est)

 
The sell stop was hit at 1146.30 putting traders into short positions.  For what ever reason the market is showing signs of support at this 1145 area and likely because of the open weekly gap at 1145.70 that is now being filled.
 
It is recommended for traders to exit the short positions taken and buy at the market, which is trading at 1145.50 at this time and scratch the short position trade with a small profit.

Results:    02/19/04

Sold @ 1157.50 Bought @ 1153.80 = + $   925.00     sold as per bulletin and bought as per bulletin
Bought @ 1153.80 Sold @ 1157 = + $   800.00
Sold @ 1146.30 Bought @ 1145.50   = + $   200.00     bought as per bulletin
TOTAL (P & L)    + $1,925.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 2-20-04 :  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 -
1149.70 peak (major) / 1152 and 1153.20 intra-day channels (major area) / 1154.50 and 1155.30 peaks also 1155.50 intra-day channel and 1156.40 peak (very major area) / 1157.30 and 1158.30 peaks also 1158.30 and 1158.70 day tops and 1160.70 minor daily upper channel (major area) / 1162 minor weekly upper channel also 1162.50 and 1163.50 day tops (very major area) / 1167.80 and 1168.10 long-term major weekly upper channels also 1169 weekly top (very major area) / 1172.10 minor weekly upper channel (major) / 1174.90 major monthly upper channel (very major area) / 1177 and 1178.50 monthly double top area and 1180 weekly closing gap in the March contract (very major area) / 1187 weekly closing price and 1189.50 weekly top (major area).
 
Support:  For the March contract -
1143.30 intra-day channel and 1142.80 base (major area) / 1139.50 major day channel and 1139.20 day channel (very major area) / 1137.80 weekly bottom and 1137.60 day bottom also 1135.90 long-term minor weekly channel (major area) / 1132.20 minor weekly channel without GBX prices and 1130.80 minor weekly channel with GBX prices also 1129.90 monthly closing price (very major area) / 1128.30 day channel and 1127 day bottom also 1126.40 day gap and 1126 GBX bottom (major area) / 1123 weekly bottom and 1122.80 weekly channel also 1122.30 GBX weekly bottom and 1122 long-term major weekly channel (very major area) / 1121 weekly bottom and 1119.40 GBX (major area) / 1118.60 long-term major daily channel (very major area) / 1113.80 weekly bottom and 1112.20 major weekly channel also 1111.70 long-term major monthly channel (very major area) / 1108.90 weekly closing gap and 1108.60 GBX bottom (major area) / 1103.50 monthly bottom (major) / 1098.50 and 1098.20 monthly channels also 1097.30 weekly bottom (very major area).
 
Comments:
    The sell-off on Thursday from the major resistance brought prices below the first major resistance, which was slightly bearish, but the market continues to hold above the 1140.50 - 1139.70 major weekly channel support.  This leaves the chart neutral to slightly bearish.  A trade below the 1140.50 - 1139.70 area is bearish and can bring prices down near the 1129.90 - 1127.80 support area and possibly challenge the 1117.20 - 1115.30 major support as well.  A trade below 1111.70 will put the chart into a new major downtrend for lower prices to follow.  A trade today above the 1155.50 and 1156.40 area is slightly bullish but only a trade above 1162 can bring any solid bullishness back to the chart.  NOTE:  A close on Friday at or above 1148.40 will remove the bearishness from the chart leaving it neutral for next week.  A close below 1148.40 keeps the bearish conditions for next week.  Remain defensive today inside the 1155.50 - 1140.50 trading range until the market can prove a solid direction.
                                 
Day trades:  For The March contract -
 
Aggressive traders can sell rallies near 1149 - 1152 area and if possible near 1155.50 for obj. near 1146.60 - 1145.20 area.  (Use a protective buy stop at 1157.  Do not rev. long).
 
Aggressive traders can buy dips near 1141 - 1139.70 area for obj. near 1144 - 1147 area.  (Use a sell stop and rev. short at 1136).
 
Buy stop at 1164.70 for obj. near 1167 - 1168 area.
Buy stop at 1170.50 for obj. near 1173 - 1174.90 area.
 
Sell stop at 1145 for obj. near 1141 - 1140.50 and possibly near 1139.70
Sell stop at 1136 for obj. near 1133 - 1129.90 area.
 

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

Bulletin - Originally sent 02/20/04 (10:02 am est)

 
Short positions were taken on the opening at 1149.30.  The sell off down to 1146.60 - 1145.20 area meets the obj. and completes the trade. 
 
The sell stop was hit at 1145, putting traders into short positions.  The obj. remains near 1141 - 1140.50 area.

Bulletin - Originally sent 02/20/04 (10:29 am est)

 
The sell stop at 1145 put traders into short positions.  The market is showing sighs of support at the 1144.50 area and possibly because of the major support at 1140.50 - 1139.70 that will move up to 1148.40 for next week.
 
It is recommended for traders to exit the short position at the market, which is trading at 1146 and cut losses.

Bulletin - Originally sent 02/20/04 (11:31 am est)

 
The sell-off down to 1141 - 1139.70 area put traders into long positions.  The rally up to 1142.50 is showing signs of resistance for traders to consider taking profits and complete the trade with a small profit.

Bulletin - Originally sent 02/20/04 (1:54 pm est)

 
Long positions were taken at the low end of the buy area at 1139.70.  The rally up to 1142.20 seems worthy enough to consider taking profits again.  This completes the trade and should not be repeated.

Bulletin - Originally sent 02/20/04 (3:24 pm est)

 
The rally up to 1149 put traders into short positions again in the sell area.  The sell-off down to 1146 - 1145 area meets the obj. and completes the trade. 
 
NOTE:  This trade was completed for the second time and will not be taken again.

Results:    02/20/04

Sold @ 1149.30 Bought @ 1145.50 = + $   950.00     
Sold @ 1145 Bought @ 1145.50 = -  $   125.00
Bought @ 1140.50 Sold @ 1142.50 = + $   500.00
Bought @ 1139.70 Sold @ 1142.20 = + $   625.00
Sold @ 1149 Bought @ 1146  = + $   750.00     
TOTAL (P & L)    + $2,700.00
The week in review - 02/23/04 - 2/27/04
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 2-23-04 :  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 -
1144.50, 1145.50 and 1146 peaks (major area) / 1147.20 intra-day channel and 1148 intra-day gap also 1149.30 day top (very major area) / 1154.50 and 1155.30 intra-day congestion peaks (major area) / 1156.40 peak and 1156.60 long-term major weekly channel (very major area) / 1157.30 and 1158.50 weekly channels also 1158.70 weekly top and 1158.90 minor weekly upper channel (very major area) / 1162 minor weekly upper channel also 1162.50 and 1163.50 day tops (major area) / 1169 weekly top (major) / 1172.20 long-term major weekly upper channel and 1174.90 major monthly upper channel (very major area) / 1177 and 1178.50 monthly double top area also 1179.30 major weekly upper channel and 1180 weekly closing gap (very major area) / 1187 weekly closing price and 1189.50 weekly top (major area).
 
Support:  For the March contract -
1143.30 intra-day channel and 1142.80 base (major area) / 1139.50 major day channel and 1139.20 day channel (very major area) / 1137.80 weekly bottom and 1137.60 day bottom also 1135.90 long-term minor weekly channel (major area) / 1132.20 minor weekly channel without GBX prices and 1130.80 minor weekly channel with GBX prices also 1129.90 monthly closing price (very major area) / 1128.30 day channel and 1127 day bottom also 1126.40 day gap and 1126 GBX bottom (major area) / 1123 weekly bottom and 1122.80 weekly channel also 1122.30 GBX weekly and 1122 long-term major weekly channel (very major area) / 1121 weekly bottom and 1119.40 GBX (major area) / 1118.60 long-term major daily channel (very major area) / 1113.80 weekly bottom and 1112.20 major weekly channel also 1111.70 long-term major monthly channel (very major area) / 1108.90 weekly closing gap and 1108.60 GBX bottom (major area) / 1103.50 monthly bottom (major) / 1098.50 and 1098.20 monthly channels also 1097.30 weekly bottom (very major area).
 
Comments:
    The sell-off on Friday closed down for the third day in a row and managed to close down for the week, lower then last Friday's close, leaving the chart in neutral to bearish condition.  The double top just might prove to be significant enough to reverse the trend to the downside.  A trade today above 1147.20 - 1149.30 area is slightly bullish but only a trade above 1156.60 and 1158.90 area can bring any solid bullishness back to the chart.  A trade today below 1139.50 - 1139.20 area is bearish but prices must get below 1135.90 and 1132.20 to get the chart into solid bearish territory.  Remain defensive inside the first trading area between 1147.20 - 1139.20 until a solid direction is established.
                                     
Day trades:  For The March contract -
 
Aggressive traders can sell rallies near 1146 - 1147.20 area and if possible near 1149 for obj. near 1143.30 - 1142.80 area and possibly near 1139.50.  (Use a protective buy stop at 1152.  Do not rev. long).
 
Aggressive traders can sell rallies near 1156 - 1157 area for obj. near 1151 - 1150 area and possibly near 1148.  (Use a buy stop and rev. long at 1164.60).
 
Buy stop at 1164.60 for obj. near 1169 - 1172 area.
 
Sell stop at 1137.30 for obj. near 1135.90 - 1132.30 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 02/23/04 (9:53 am est)

 
Short positions were taken on the open at 1147.  The sell-off down to 1143 meets the obj. and completes the trade.

Bulletin - Originally sent 02/23/04 (12:22 pm est)

 
The sell stop was hit at 1137.30 putting traders into short positions.  The sell-off should have already hit the obj. at 1135.90 on the first leg down.  Because of the significance of the 1135.90 support, prices can possibly work higher without reaching that price.
 
It is recommended for traders to exit the short position at the market, which is trading at 1138.30 and scratch the trade with a small loss.

Results:    02/23/04

Sold @ 1147 Bought @ 1143   = + $1,000.00    
Sold @ 1137.30 Bought @ 1138.30 = -  $   250.00
TOTAL (P & L)    + $   750.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 2-24-04 :  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 -
1141.10 day channel also 1141.20 and 1141.50 peaks (major area) / 1143 and 1143.70 peaks (major area) / 1144.40 minor day channel and 1145.50 peak (major area) / 1147 and 1149.60 day tops (major area) / 1156.40 peak and 1156.60 long-term major weekly channel (very major area) / 1157.30 peak and 1157.60 weekly channel also 1158.50 weekly channel and 1158.70 weekly top also 1158.90 minor weekly upper channel (very major area) / 1162 minor weekly upper channel also 1162.50 and 1163.50 day tops (major area) / 1169 weekly top (major) / 1172.20 long-term major weekly upper channel and 1174.90 major monthly upper channel (very major area) / 1177 and 1178.50 monthly double top area also 1179.30 major weekly upper channel and 1180 weekly closing gap (very major area) / 1187 weekly closing price and 1189.50 weekly top (major area).
 
Support:  For the March contract -
1139.20 intra-day channel and 1138.10 newly developed day channel (major area) / 1136.10 day bottom and 1135.90 long-term minor weekly channel (very major area) / 1132.20 minor weekly channel without GBX prices and 1130.80 minor weekly channel with GBX prices also 1129.90 monthly closing price (very major area) / 1128.80 day channel (major) / 1127 day bottom and 1126.40 day gap also 1126 GBX bottom (major area) / 1123 weekly bottom and 1122.80 weekly channel also 1122.30 GBX weekly bottom and 1122 long-term major weekly channel (very major area) / 1121 weekly bottom and 1119.90 long-term major day channel also 1119.40 GBX bottom (very major area) / 1113.80 weekly bottom and 1112.20 major weekly channel also 1111.70 long-term major monthly channel (very major area) / 1108.90 weekly closing gap and 1108.60 GBX bottom (major area) / 1103.50 monthly bottom (major) / 1098.50 and 1098.20 monthly channels also 1097.30 weekly bottom (very major area).
 
Comments:
    The sell-off on Monday managed to close down for the fourth day in a row but also managed to hold above the 1135.90 major support area leaving the chart neutral to bearish inside the first trading area between the 1141.10 - 1144.40 resistance and 1139.20 - 1138.10 support.  Only a trade above 1156.60 and 1158.90 can bring any solid bullishness back to the chart.  A trade below 1135.90 is bearish and a trade below 1132.20 - 1130.80 can bring prices down to challenge the 1122 major support area and possibly near the 1111.70 monthly channel major support.  Remain defensive inside the first trading area between 1141 - 1144.40 resistance and the 1139.20 - 1138.10 support.    
                                         
Day trades:  For The March contract -
 
Aggressive traders can sell rallies near 1141 and 1144.40 areas for obj. near 1139.50 - 1138.10.  (Use a buy stop and rev. long at 1145.70).
 
Aggressive traders can sell rallies near 1156 - 1157 area and if possible near 1158.90 for obj. near 1151 - 1150 and possibly near 1148.  (Use a buy stop and rev. long at 1164.60).
 
Buy stop at 1145.70 for obj. near 1147 - 1149 area.
Buy stop at 1150.50 for obj. near 1154 - 1156 area and possibly near 1157.
Buy stop at 1164.60 for obj. near 1169 - 1172 area.
 
Sell stop at 1135 for obj. near 1133 - 1132.20 and possibly near 1130.80.
Sell stop at 1128.50 for obj. near 1127 - 1126 area.
Sell stop at 1125 for obj. near 1123 - 1122 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 02/24/04 (10:35 am est)

 
The sell stop was hit at 1135, putting traders into short positions.  The obj. was not met at 1133 and a rally developed up to the sell area.  Traders should consider selling the 1141 - 1144.40 area adding to their short positions.  (Continue to use a buy stop and rev. long at 1145.70).  The obj. to exit both short positions will still remain at 1139.50 - 1138.10 area. 

Bulletin - Originally sent 02/24/04 (10:40 am est)

 
Short positions were taken at 1135 and additional short positions were taken at 1144.  The average for the two positions is 1139.50. 
 
It is recommended for traders to exit both positions at the break even of 1139.50 to complete the trade.  (Continue to use a buy sto and rev. long at 1145.70).

Bulletin - Originally sent 02/24/04 (11:30 am est)

 
Short positions were taken at 1135 and 1144.  The sell off down to 1140.50 is near enough to the 1139.50 obj. and completes the trade with a small loss.

Results:    02/24/04

Sold @ 1135 Bought @ 1140.50   = -  $1,375.00     bought as per bulletin    
Sold @ 1144 Bought @ 1140.50 = + $   875.00     bought as per bulletin
Sold @ 1142.50 Bought @ 1139 = + $   875.00
TOTAL (P & L)    +  $   375.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 2-25-04 :  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 -
1139.10 minor day channel and 1139.30 peak (major area) / 1140.30 intra-day channel and 1141 minor day channel (major area) / 1141.80 minor day channel and 1142.80 peak (very major area) / 1144 day top (major) / 1147 and 1149.60 day tops (major area) / 1156.40 peak and 1156.60 long-term major weekly channel (very major area) / 1157.30 peak and 1157.60 weekly channel also 1158.50 weekly channel and 1158.70 weekly top also 1159 minor weekly upper channel (very major area) / 1162 minor weekly upper channel also 1162.50 and 1163.50 day tops (major area) / 1169 weekly top (major) / 1172.20 long-term major weekly upper channel and 1174.90 major monthly upper channel (very major area) / 1177 and 1178.50 monthly double top area also 1179.30 major weekly upper channel and 1180 weekly closing gap (very major area) / 1187 weekly closing price and 1189.50 weekly top (major area).
 
Support:  For the March contract -
1137.50 base (significant) / 1136.50 base (major) / 1134.70 newly developed major day channel and 1134 day channel (major area) / 1133.20 day bottom and 1132.20 minor weekly channel without GBX prices and 1130.80 minor weekly channel with GBX prices (very major area) / 1129.90 monthly closing price and 1129.30 day channel (major area) / 1127 day bottom and 1126.40 day gap also 1126 GBX bottom (major area) / 1123 weekly bottom and 1122.80 weekly channel also 1122.30 GBX weekly bottom and 1122 long-term major weekly channel (very major area) / 1121.30 long-term major day channel and 1121 weekly bottom also 1119.40 GBX bottom (very major area) / 1113.80 weekly bottom and 1112.20 major weekly channel also 1111.70 long-term major monthly channel (very major area) / 1108.90 weekly closing gap and 1108.60 GBX bottom (major area) / 1103.50 monthly bottom (major) / 1098.50 and 1098.20 monthly channels also 1097.30 weekly bottom (very major area).
 
Comments:
    The whiplashing action on Tuesday managed to close down for the fifth day in a row but continues to hold above the 1132.20 major support area leaving the chart neutral to slightly bearish.  A trade above 1140.30 and 1141.80 channels is slightly bullish but only a trade above 1156.60 and 1159 can bring any solid bullishness back to the chart.  A trade today below 1134.70 - 1134 area is bearish but a trade below 1132.20 - 1130.80 can prove to be a major signal for prices to challenge the 1122 area and possibly near the 1111.70 major monthly support.  Remain defensive inside the first narrow trading range between 1141.80 and 1134.
                                             
Day trades:  For The March contract -
 
Aggressive traders can sell rallies near 1139 - 1141.80 area for obj. near 1137.50 - 1136.50 area and possibly near 1134.70.  (Use a buy stop and rev. long at 1144.50).
 
Aggressive traders can sell rallies near 1156 - 1158 area for obj. near 1153 - 1150 area and possibly near 1148.  (Use a buy stop and rev. long at 1164.50).
 
Buy stop at 1144.50 for obj. near 1146.50 - 1147.50 area and possibly near 1149.
Buy stop at 1150.50 for obj. near 1154 - 1156 area.
Buy stop at 1164.50 for obj. near 1167 - 1169 area and possibly near 1172.
 
Sell stop at 1133.70 for obj. near 1132.30 - 1130.80 area.
Sell stop at 1129 for obj. near 1127 - 1126 area.
Sell stop at 1125 for obj. near 1123 - 1122 area.
Sell stop at 1118 for obj. near 1114 - 1111.70 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 02/25/04 (12:38 pm est)

The sell stop at 1144.50 was hit, putting traders into long positions.  The sell off brought prices down to the support area.  The market continues to hold support, but is also showing signs of resistance inside this neutral area, which can bring prices to either side. 

 
It is recommended for traders to exit the long positions at the market, which is trading at 1142 at this time and cut losses.

Results:    02/25/04

Sold @ 1139.50 Bought @ 1138.30   = + $   300.00    
Bought @ 1144.50 Sold @ 1142 = -  $   625.00     sold as per bulletin
TOTAL (P & L)    -  $   325.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 2-26-04 :  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 -
1143.30 minor day channel and 1143.50 peak also 1143.80 minor day channel and 1144 intra-day gap (major area) / 1144.50 peak and 1144.90 day top (major area) / 1147 day top (major) / 1149.60 day top (major) / 1156.40 peak and 1156.60 long-term major weekly channel (very major area) / 1157.30 peak and 1157.60 weekly channel also 1158.50 weekly channel and 1158.70 weekly top also 1159 minor weekly upper channel (very major area) / 1162 minor weekly upper channel also 1162.50 and 1163.50 day tops (major area) / 1169 weekly top (major) / 1172.20 long-term major weekly upper channel and 1174.90 major monthly upper channel (very major area) / 1177 and 1178.50 monthly double top area also 1179.30 major weekly upper channel and 1180 weekly closing gap (very major area) / 1187 weekly closing price and 1189.50 weekly top (major area).
 
Support:  For the March contract -
1142.80 minor day channel without GBX prices and 1142.60 base (major area) / 1141.50 and 1141 base also 1140.80 minor day channel with GBX prices (major area) / 1138 day bottom and 1137 GBX bottom also 1136.30 major day channel (major area) / 1134.90 day channel (major) / 1133.20 day bottom and 1132.20 minor weekly channel without GBX prices also 1130.80 minor weekly channel with GBX prices (very major area) / 1129.90 monthly closing price and 1129.80 day channel (major area) / 1127 day bottom and 1126.40 day gap also 1126 GBX bottom (major area) / 1123 weekly bottom and 1122.80 weekly channel also 1122.60 long-term major day channel and 1122 long-term major weekly channel (very major area) / 1121 weekly bottom and 1119.40 GBX bottom (major area) / 1113.80 weekly bottom and 1112.20 major weekly channel also 1111.70 long-term major monthly channel (very major area) / 1108.90 weekly closing gap and 1108.60 GBX bottom (major area) / 1103.50 monthly bottom (major) / 1098.50 and 1098.20 monthly channels also 1097.30 weekly bottom (very major area).
 
Comments:
    The whiplashing rally on Wednesday proves the neutral conditions still remain inside the major weekly trading range between 1156.60 - 1159 resistance and 1132.20 - 1130.80 support.  A trade today above the 1147 - 1149.60 day tops can challenge the 1156.60 - 1158.50 resistance.  A trade today below the 1140.80 and 1136.30 channels can bring prices down to challenge the 1132.20 - 1130.80 support.  Remain defensive inside the first narrow trading area between 1143.30 - 1144.90 resistance and 1142.80 - 1140.80 support.  NOTE:  The technical neutral condition can whiplash and swing prices above the 1158.70 top area creating an exhaustion rally before any major retracements are seen to the downside.  Remain cautious for this possible technical move.
                                                 
Day trades:  For The March contract -
 
Aggressive traders can buy dips near 1142.80 - 1140.80 area or sell rallies near 1143.80 - 1144 area, whichever side comes first to complete the trade.  (Use a sell stop and rev. short at 1140).  (Use a buy stop and rev. long at 1146).
 
Sell stop at 1140 for obj. near 1137.50 - 1136.30 area.
Sell stop at 1135.80 for obj. near 1132.20 - 1130.80 area.
Sell stop at 1129 for obj. near 1127 - 1126 area.
Sell stop at 1125 for obj. near 1123 - 1122 area.
 
Buy stop at 1146 for obj. near 1148 - 1149 area.
Buy stop at 1151 for obj. near 1154 - 1156 area.
Buy stop at 1160 for obj. near 1162 and possibly 1163.
Buy stop at 1164.50 for obj. near 1167 - 1169 area and possibly near 1172.
 

* 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 02/26/04 (2:16 pm est)

 
This is a review of today's trades.
 
Long positions were taken on the opening at 1140.70.  The sell stop was hit at 1140 before the obj. was met, putting traders into short positions. 
 
Short positions were taken at 1140.  The sell off down to 1137.80 was near enough to the 1137.50 obj. and completed the trade.
 
The buy stop was hit at 1146, putting traders into long positions.  The market is now in neutral condition.  It is recommended for traders to exit the long position taken at 1146.  The market is trading at 1146 at this time for traders to scratch the trade. 

Results:    02/26/04

Bought @ 1140.70 Sold @ 1140   = -  $   175.00           
Sold @ 1140 Bought @ 1137.80 = + $   500.00     
Bought @ 1146 Sold @ 1146 =    $      -0-   
TOTAL (P & L)    +  $   375.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 2-27-04 :  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 -
1144.50 intra-day channel and 1144.90 newly developed day channel (major area) / 1146.60 minor day channel and 1146.70 peak also 1147.20 day top (major area) / 1149.60 day top (major) / 1156.40 peak and 1156.60 long term major weekly channel (very major area) / 1157.60 and 1158.50 weekly channels also 1158.70 weekly top and 1159.10 minor daily upper channel (very major area) / 1162 minor weekly upper channel also 1162.50 and 1163.50 day tops (major area) / 1169 weekly top (major) / 1172.20 long-term major weekly upper channel and 1174.90 major monthly upper channel (very major area) / 1177 and 1178.50 monthly double top area also 1179.30 major weekly upper channel and 1180 weekly closing gap (very major area) / 1187 weekly closing price and 1189.50 weekly top (major area).
 
Support:  For the March contract -
1141.20 intra-day channel and 1140.10 minor day channel (major area) / 1137.80 day bottom and 1137.70 major day channel also 1137 GBX bottom (major area) / 1135.70 day channel (major) / 1133.20 day bottom and 1132.20 minor weekly channel without GBX prices also 1130.80 minor weekly channel with GBX prices (very major area) / 1127 day bottom and 1126.40 day gap also 1126 GBX bottom (major area) / 1124 long-term major day channel and 1123 weekly bottom also 1122 long-term major weekly channel (very major area) / 1121 weekly bottom and 1119.40 GBX bottom (major area) / 1113.80 weekly bottom and 1112.20 major weekly channel also 1111.70 long-term major monthly channel (very major area).
 
Comments:
    The whiplashing action and narrow trading range on Thursday proved the neutral condition still remains.  A trade and close on Friday above 1149.40 will leave the chart in slightly bullish and supportive condition for next week but only a trade and close above 1162 can bring any solid bullishness back to the chart.  A trade today below 1137.70 is slightly bearish but only a trade below 1130.80 can bring any solid bearishness back to the chart.  Remain defensive inside the first two trading areas, which are as follows:  The first one is between 1144.90 and 1140.10.  The second one is slightly wider between 1146.60 and 1137.70.  NOTE:  The neutral condition can continue to stimulate the whiplashing action to both sides until a breakout from inside the second trading area is seen.
                                                     
Day trades:  For The March contract -
 
Aggressive traders can sell rallies near 1144.90 - 1146.60 area or buy dips near 1140.10 - 1137.70 area, whichever side comes first to complete the trade.  (Use a buy stop and rev. long at 1151).  (Use a sell stop and rev. short at 1135).
 
Buy stop at 1151 for obj. near 1154 - 1156 area.
Buy stop at 1160 for obj. near 1161.70 - 1162 area and possibly 1163.
Buy stop at 1164.50 for obj. near 1167 - 1169.
 
Sell stop at 1135 for obj. near 1133 - 1130.80 area.
Sell stop at 1129 for obj. near 1127 - 1126 area and possibly near 1124 - 1122 area.
Sell stop at 1118 for obj. near 1115 - 1111.70 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 02/27/04 (10:44 am est)

 
The buy stop was hit putting traders into long positions.  The 1151 - 1151.70 is now showing signs of resistance that could prevent the 1154 obj. from being hit.
 
It is recommended for traders to exit the long position at the market, which is trading at 1149.50 at this time and cut losses.

Bulletin - Originally sent 02/27/04 (11:53 am est)

 
Short positions were taken at 1149.50.  The sell-off down to 1140.50 meets the obj. and completes the trade.

Bulletin - Originally sent 02/27/04 (11:57 am est)

 
Long positions were taken at 1140.50.  The rally up to 1143 seems worthy enough to consider taking profits and completes the trade.

Bulletin - Originally sent 02/27/04 (4:04 pm est)

 
After a few calls and e-mails from our subscribers we feel it necessary to apologize for the miscommunication in the first bulletin.
 
After entering into a short position on the open at 1146.30 the buy stop was hit at 1151 putting traders into long positions.  When the market began to show the resistance at 1151 the Tech Guru intervened with a bulletin to exit the long position and cut losses.  Sorry for the miscommunication..

Results:    02/27/04

Sold @ 1146.30 Bought @ 1151   = -  $1,175.00         
Bought @ 1151 Sold @ 1149.50 = -  $   375.00
Sold @ 1149.50 Bought @ 1140.50 = + $2,250.00     sold as per bulletin
Bought @ 1140.50 Sold @ 1143 = + $   625.00
TOTAL (P & L)    +  $1,325.00
 

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

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

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

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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