The Tech Guru Commodity Report 

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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 - 03/01/04 - 03/05/04
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 03-01-04:  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 -
1144.70 newly developed minor weekly channel and 1146 peak (major area) / 1149.40 newly developed long-term major monthly channel and 1149.80 peak also 1150.60 day channel (very major area) / 1153.90 newly developed major monthly channel and 1154.50 long-term major weekly channel (very major area) / 1156.50 major weekly channel and 1157.90 newly developed minor monthly channel also 1158.30 weekly channel and 1158.70 weekly top and 1159.10 minor weekly upper channel (very major area) / 1162.30 daily upper channel also 1162.50 and 1163.50 day tops also 1163.80 minor weekly upper channel (very major area) / 1169 weekly top (major) / 1176.60 long-term major weekly upper channel also 1177 and 1178.50 monthly double top and 1180 weekly closing gap (very major area) / 1183.50 minor weekly upper channel and 1185.30 major weekly upper channel (very major area) / 1187 weekly closing price and 1189.50 weekly top (major area) / 1194.80 major monthly upper channel (very major area). 
 
Support:  For the March contract -
1143.20 and 1142.40 minor day channels also 1142.50 minor monthly channel (major area) / 1141.20 major monthly channel and 1140.70 weekly channel also 1140.50 day bottom also 1139.40 and 1139.20 major day channels (very major area) / 1137.80 day bottom and 1137 GBX bottom also 1136.80 minor weekly channel and 1136.50 day channel (very major area) / 1133.60 minor weekly channel and 1133.20 weekly bottom (major area) / 1130.80 day channel (major) / 1128.70 long-term major weekly channel and 1127 day bottom also 1126.40 day gap and 1126 GBX bottom and 1125.30 long-term major day channel (very major area) / 1123 weekly bottom and 1122.30 GBX weekly bottom also 1121 weekly bottom and 1120.80 minor monthly channel (very major area) / 1119.40 GBX bottom and 1118.10 are both major monthly and weekly channels (very major area) / 1113.80 weekly bottom also 1112 weekly bottom to 1108.90 weekly closing gap (very major area) / 1103.50 monthly bottom (major) / 1097.20 weekly bottom to 1194.20 weekly bottom also 1093.50 weekly closing gap (very major area).   
 
Comments:
The closing price on Friday was below the 1149.40 resistance area but managed to close up from last week's and last month's closing prices, which leaves the chart dead neutral with no solid direction.  The possibility of a rally above the 1158.70 top area can still develop as easily as a sell off below the 1136.60 and 1128.70 major support areas.  A trade above the 1163.80 channel can challenge prices near the 1176.60 area and the 1177-1178.50 double top area.  A trade today below 1136.50 is bearish but only a trade below 1128.70 can bring solid bearishness into the chart.  Remain defensive inside the first neutral trading area between the 1149.40 -1150.60 resistance and 1142.50 -1139.20 support area.  The major weekly trading area remains between 1163.80 -1128.70 area.   
                                     
Day trades:  For The March contract -
 
Aggressive traders can sell rallies near 1149.40 - 1150.60 area or buy dips near 1143.20 - 1140.10 area, whichever side comes first, to complete the trade.  (Use a buy stop and rev. long at 1152).  (Use a sell stop and rev. short at 1139).
 
Buy stop at 1152 for obj. near 1153.50 - 1156 area and possibly near 1157.90.
Buy stop at 1165 for obj. near 1168 - 1169 area.
Buy stop at 1170 for obj. near 1174 - 1176.60 area and possibly near 1177 - 1178.50 top area.
 
Sell stop at 1139 for obj. near 1137.50 - 1136.50 area.
Sell stop at 1135 for obj. near 1131.50 - 1128.70 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 03/01/04 (9:35 am est)
 
Short positions were taken at 1149, which is near enough to the 1149.40 sell area.  The obj. still remains at 1143.20.  (Continue to use a buy stop and rev long at 1152).

Bulletin - Originally sent 03/01/04 (10:22 am est)

 
The buy stop was hit at 1152 putting traders into long positions.  The market fail to reach the obj. and is now showing resistance.
 
It is recommended to exit the long position at the market, which is trading at 1151 and scratch the trade with a small loss.

Bulletin - Originally sent 03/01/04 (10:33 am est)

 
Aggressive traders can sell at 1151 - 1150 area for obj. near 1146 - 1144 area.
 
(Use a protective buy stop at 1152.90.  Do not rev. long).

Bulletin - Originally sent 03/01/04 (11:17 am est)

 
Short positions were taken at 1150.50.  The sell-off down to 1146.80 is near enough to the 1146 obj. and completes the trade.

Results:    03/01/04

Sold @ 1149 Bought @ 1152   = -  $   750.00     sold as per bulletin         
Bought @ 1152 Sold @ 1151 = -  $   250.00     sold as per bulletin
Sold @ 1150.50 Bought @ 1146.80 = + $   925.00     sold as per bulletin
Bought @ 1152 Sold @ 1156 = + $1,000.00
TOTAL (P & L)    + $   925.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 03-02-04:  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 -
1157.40 Newly developed day channel and 1157.50 day top also 1157.90 minor monthly channel and 1158.30 weekly channel also 1158.70 weekly top and 1159.10 minor weekly upper channel (very major area) / 1162.60 daily upper channel also 1162.50 and 1163.50 day tops also 1163.80 minor weekly upper channel (very major area) / 1169 weekly top (major) / 1176.60 long-term major weekly upper channel also 1177 and 1178.50 monthly double top and 1180 weekly closing gap (very major area) / 1183.50 minor weekly upper channel and 1185.30 major weekly upper channel (very major area) / 1187 weekly closing price and 1189.50 weekly top (major area) / 1194.80 major monthly upper channel (very major area). 
 
Support:  For the March contract -
1155.20 and 1155 Intra-Day channels also 1154.10 base and 1153.10 minor day channel without GBX prices (major area) / 1151.30 and 1151 base area (major area) / 1148.10 minor day channel and 1146.80 day bottom (major area) / 1145.90 and 1144.70 minor day channels also 1144.60 weekly closing gap and 1144.30 GBX bottom (major area) / 1141 and 1140.70 major day channels also 1140.50 day bottom (very major area) / 1137.80 day bottom and 1137.40 day channel also 1137 GBX bottom and 1136.80 minor weekly channel (very major area) / 1133.60 minor weekly channel and 1133.20 weekly bottom (major area) / 1131.30 day channel (major) / 1128.70 long-term major weekly channel and 1127 day bottom also 1126.70 long-term major day channel and 1126.40 day gap and 1126 GBX bottom and (very major area) / 1123 weekly bottom and 1122.30 GBX weekly bottom also 1121 weekly bottom and 1120.80 minor monthly channel (very major area) / 1119.40 GBX bottom and 1118.10 are both the major monthly and major weekly channels (very major area) / 1113.80 weekly bottom also 1112 weekly bottom to 1108.90 weekly closing gap (very major area) / 1103.50 monthly bottom (major) / 1097.20 weekly bottom to 1194.20 weekly bottom also 1093.50 weekly closing gap (very major area).   
 
Comments:
The rally on Monday brought prices up near a very critical resistance area but it managed to close near the high for the day, which leaves the chart in a neutral to slightly bullish condition.  A trade today above 1159.10 is bullish but only a trade above the 1162.60 - 1163.80 area will be considered a breakout for higher prices to follow.  A trade today below 1145.90 - 1144.70 area is slightly bearish but only a trade below 1137.40 -1136.80 area can bring any solid bearishness back to the chart.  Remain defensive inside the first neutral trading area between 1159.10 and 1153.10 area. 
                                     
Day trades:  For The March contract -
 
Aggressive traders can sell rallies near 1157.40 - 1159.10 area or buy dips near 1155.20 - 1153.10 area, whichever side comes first, to complete the trade.  (Use a buy stop and rev. long at 1160).  (Use a sell stop and rev. short at 1151.50).
 
Buy stop at 1160 for obj. near 1162 - 1163.80 area.
Buy stop at 1165 for obj. near 1168 - 1169 area.
Buy stop at 1171 for obj. near 1174 - 1176.60 area and possibly near 1177 - 1178.50 top area.
 
Sell stop at 1140 for obj. near 1138 - 1136.80 area.
Sell stop at 1135.50 for obj. near 1133.60 - 1131.30 area and possibly near 1128.70.
 

* 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 03/02/04 (9:57 am est)

 
Long positions  were taken on the open at 1154.  The rally up to 1156.40 is near enough to the 1157.40 obj. to consider taking profits and complete the trade.

Bulletin - Originally sent 03/02/04 (12:25 pm est)

 
The sell stop was hit at 1151.50 putting traders into short positions.  The obj. remains near 1148.50 - 1146.50 area.

Bulletin - Originally sent 03/02/04 (12:35 pm est)

 
NOTE:  The sell stop and rev. short at 1151.50 was listed in the first trade but was an oversight and not listed at the bottom of the page with all the other sell stops as usual.  Sorry for the inconvenience. 

Bulletin - Originally sent 03/02/04 (1:14 pm est)

 
Short positions were taken at 1151.50.  The sell-off down to 1149.10 is near enough to the 1148.50 obj. and completes the trade.

Results:    03/02/04

Bought @ 1154 Sold @ 1156.40   = + $   600.00           
Sold @ 1156.40 Bought @ 1154 = + $   600.00     
Sold @ 1151.50 Bought @ 1149.20 = + $   575.00
TOTAL (P & L)    +  $1,775.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 03-03-04:  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 -
1149.70 and 1150.30 peaks (major area) / 1152 intra-day channel and 1152.20 intra-day gap also 1153 peak (major area) / 1154.20 intra-day channel and 1155.50 minor day channel also 1155.70 peak (very major area) / 1156.50 day top and 1157.10 minor day channel also 1157.50 day top (major area) / 1157.50 day top and 1157.90 minor monthly channel also 1158.30 weekly channel and 1158.70 weekly top also 1159.10 minor weekly upper channel (very major area) / 1162.50 day top and 1162.90 daily upper channel also 1163.50 day top and 1163.80 minor weekly upper channel (very major area) / 1169 weekly top (major) / 1176.60 long-term major weekly upper channel also 1177 and 1178.50 monthly double top and 1180 weekly closing gap (very major area) / 1183.50 minor weekly upper channel and 1185.30 major weekly upper channel (very major area) / 1187 weekly closing price and 1189.50 weekly top (major area) / 1194.80 major monthly upper channel (very major area). 
 
Support:  For the March contract -
1148.60 and 1147 minor day channels and 1146.50 day bottom (major area) / 1144.60 weekly closing gap and 1144.30 GBX bottom (major area) / 1142.50 and 1142.30 major day channels also 1141.20 major monthly channel and 1140.50 major weekly channel and day bottom (very major area) / 1138.20 day channel and 1137.80 day bottom also 1137 GBX bottom and 1136.80 minor weekly channel (very major area) / 1133.60 minor weekly channel and 1133.20 weekly bottom (major area) / 1131.80 day channel (major area) / 1128.70 long-term major weekly channel and 1127 day bottom also 1126.40 day gap and 1126 GBX bottom (very major area) / 1123 weekly bottom and 1122.30 GBX weekly bottom also 1121 weekly bottom and 1120.80 minor monthly channel (very major area) / 1119.40 GBX bottom and 1118.10 are both the major monthly and major weekly channels (very major area) / 1113.80 weekly bottom also 1112 weekly bottom to 1108.90 weekly closing gap (very major area) / 1103.50 monthly bottom (major) / 1097.20 weekly bottom to 1194.20 weekly bottom also 1093.50 weekly closing gap (very major area).   
 
Comments:
    The sell-off on Tuesday from the major resistance brought prices down to a major support leaving the chart dead neutral again.  A trade today above 1155.50 is slightly bullish but only a trade above 1159.10 and 1163.80 can bring any solid bullishness back to the chart.  A trade below  the 1142.50 - 1142.30 channels and 1140.50 is slightly bearish but only a trade below the 1136.80 channel can bring any solid bearishness back to the chart.  Remain defensive inside the first neutral trading area between 1155.50 and 1147 area and also the second neutral area between 1157.90 and 1142.50 area.
                                     
Day trades:  For The March contract -
 
Aggressive traders can buy dips near 1148 - 1147 area or sell rallies near 1153 - 1155.50 area, whichever side comes first, to complete the trade.  (Use a sell stop and rev. short at 1146).  (Use a buy stop and rev. long at 1160).
 
Sell stop at 1146 for obj. near 1144.60 - 1142.50 area.
Sell stop at 1140 for obj. near 1138.20 - 1136.80 area.
Sell stop at 1135.50 for obj. near 1133.60 - 1131.80 area.
Sell stop at 1131 for obj. near 1128.70 and possibly near 1126.40 gap area.
 
Buy stop at 1160 for obj. near 1162 - 1163.80 area.
Buy stop at 1165 for obj. near 1168 - 1169 area.
Buy stop at 1171 for obj. near 1174 - 1176.60 area and possibly near 1177 - 1178.50 top 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 03/03/04 (10:20 am est)

 
The sell stop at 1146 was hit on the open putting traders into short positions.  The market is showing support at the 1145.50 area preventing the obj. from being hit. 
 
It is recommended to exit the short position at the market, which is trading at 1146 at this time and scratch the trade.

Bulletin - Originally sent 03/03/04 (2:56 pm est)

 
The rally up to 1152.70, which actually formed an intra-day double top was near enough to the 1153 sell area putting traders into short positions. 
 
The sell-off down to 1150 is worthy enough to consider taking profits being that it is near enough to the 1148 obj. and now appears to have some support.  This completes the trade.

Results:    03/03/04

Sold @ 1146 Bought @ 1146   =    $      -0-        bought as per bulletin  
Sold @ 1152.50 Bought @ 1150 = + $   625.00     
TOTAL (P & L)    + $   625.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 03-04-04:  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 -
1151.40 peak and 1151.60 intra-day channel (major area) / 1152.20 peak and 1152.70 day top also 1153 peak and 1154.50 minor day channel (major area) / 1156.90 day and 1157.50 day top (major area) / 1157.90 minor monthly channel and 1158.30 weekly channel also 1158.70 weekly top and 1159.10 minor weekly upper channel (very major area) / 1162.50 and 1163.50 day tops also 1163.20 daily upper channel and 1163.80 minor weekly upper channel (very major area) / 1169 weekly top (major) / 1176.60 long-term major weekly upper channel also 1177 and 1178.50 monthly double top and 1180 weekly closing gap (very major area) / 1183.50 minor weekly upper channel and 1185.30 major weekly upper channel (very major area) / 1187 weekly closing price and 1189.50 weekly top (major area) / 1194.80 major monthly upper channel (very major area). 
 
Support:  For the March contract -
1149.80 and 1149.30 base also 1148.90 intra-day channel (major area) / 1145.10 and 1144.80 base area also 1143.70 major day channel and 1143 day bottom (major area) / 1141.20 major monthly channel and 1140.50 major weekly channel (very major area) / 1139 day channel and 1137.80 day bottom also 1137 GBX bottom and 1136.80 minor weekly channel (very major area) / 1133.60 minor weekly channel and 1133.20 weekly bottom also 1132.30 day channel (major area) / 1129.90 monthly closing price and 1129.40 long-term major day channel (very major area) / 1127 day bottom and 1126.40 day gap also 1126 GBX bottom (major area) / 1123 weekly bottom and 1122.30 GBX weekly bottom also 1121 weekly bottom and 1120.80 minor monthly channel (very major area) / 1119.40 GBX bottom and 1118.10 are both the major monthly and major weekly channels (very major area) / 1113.80 weekly bottom also 1112 weekly bottom to 1108.90 weekly closing gap (very major area).
 
Comments:
The whiplashing action on Wednesday proved the neutral condition but the market managed to closed up for the day leaving the chart in neutral to slightly bullish condition.  A trade today above 1159.10 is bullish but only a trade above 1163.80 will be considered a breakout for higher price.  A trade below 1143.70 - 1141.20 area is slightly bearish but only a trade below 1140.50 and 1139 area and also 1136.80 can bring any solid bearishness into the chart.  Remain defensive inside the first neutral trading area between 1154.50 and 1143.70 area. 
                                         
Day trades:  For The March contract -
 
Aggressive traders can sell Rallies near 1151.60 - 1153 area and if possible near 1154.50 for obj. near 1149.20 - 1148.90 area.  (Use a buy stop and rev. long at 1155.10).
 
Aggressive traders can sell rallies near 1156.90 - 1158.30 area and if possible near 1159.10 for obj. near 1155 - 1154 area.  (Use a buy stop and rev long at 1160).
 
Aggressive traders can buy dips near 1144.50 - 1143.70 area and if possible near 1142.50 for obj. near 1147 - 1149 area.  (Use a sell stop and rev short at 1135.70).  (Conservative traders can use a protective sell stop at 1140.  Do not rev. short).
 
Buy stop at 1155.10 for obj. near 1156.70 - 1157.90 area.
Buy stop at 1160 for obj. near 1162 - 1163.80 area.
Buy stop at 1165 for obj. near 1168 - 1169 area.
 
Sell stop at 1135.70 for obj. near 1133.70 - 1132.30 area.
Sell stop at 1131.50 for obj. near 1130 - 1129.40 area.
Sell stop at 1128.70 for obj. near 1127 - 1126.40 gap area.
 

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

Bulletin - Originally sent 03/04/04 (10:19 am est)

 
Short positions were taken at 1152.  The sell-off down to 1149.80 is near enough to the 1149.20 obj. and completes the trade.

Bulletin - Originally sent 03/04/04 (1:46 pm est)

 
Short positions were taken at the high end of the sell area at 1154.50.  The obj. is to exit near 1152 - 1151 area.  Continue to use a buy stop and rev. long at 1155.10. 
 
NOTE:  The high today is 1155.  Traders using the report to trade the e-mini should still be short even though the e-mini extended a little higher then the big contract.

Bulletin - Originally sent 03/04/04 (1:56 pm est)

 
Short positions were taken at 1154.50.  The sell-off down to 1152.20 is near enough to the 1152 obj. and completes the trade.

Results:    03/04/04

Sold @ 1152 Bought @ 1149.80   = + $   550.00    
Sold @ 1154.50 Bought @ 1152.50 = + $   500.00     
TOTAL (P & L)    + $1,050.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 03-05-04:  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 -
1154.30 minor day channel and 1155 day top also 1156.80 minor day channel (very major area) / 1157.50 day top and 1157.90 minor monthly and 1158.30 weekly channel also 1158.70 weekly top and 1159.10 minor weekly upper channel (very major area) / 1162.50 and 1163.50 day tops also 1163.50 daily upper channel and 1163.80 minor weekly channel (very major area) / 1169 weekly top (major) / 1176.60 long-term major weekly upper channel also 1177 and 1178.50 monthly double top and 1180 weekly closing gap (very major area) / 1183.50 minor weekly upper channel and 1185.30 major weekly upper channel (very major area) / 1187 weekly closing price and 1189.50 weekly top (major area) / 1194.80 major monthly upper channel (very major area). 
 
Support:  For the March contract -
1153.50 intra-day channel also 1152.80 and 1152.20 base (major area) / 1151.80 and 1151.50 base (major area) / 1149.40 day bottom (major) / 1146.20 day channel and 1145.30 major day channel (very major area) / 1143 day bottom (major) / 1141.20 major monthly channel and 1140.50 major weekly channel also 1140.50 day bottom and 1139.90 major day channel (very major area) / 1137.80 day bottom and 1137 GBX bottom also 1136.80 minor weekly channel (very major area) / 1133.60 minor weekly channel and 1133.20 weekly bottom also 1132.80 day bottom (major area) / 1130.80 long-term day channel and 1129.90 monthly closing price (very major area) / 1127 day bottom and 1126.40 day gap also 1126 GBX bottom (major area) / 1123 weekly bottom and 1122.30 GBX weekly bottom also 1121 weekly bottom and 1120.80 minor monthly channel (very major area) / 1119.40 GBX bottom and 1118.10 are both the major monthly and major weekly channels (very major area) / 1113.80 weekly bottom also 1112 weekly bottom to 1108.90 weekly closing gap (very major area).
 
Comments:
    The whiplashing rally on Thursday, as small as it was, still managed to close up for the second day leaving the chart in neutral to slightly bullish condition again, as was also seen in Monday's session.  This similar condition still faces major resistance at both the 1158.70 top area and the 1163.80 channel.  Only a trade above 1163.80 will bring any solid bullishness back to the chart for higher prices.  A trade today below 1146.20 - 1145.30 area is slightly bearish but only a trade below 1140.50 and 1136.80 can bring any solid bearishness back to the chart.  Remain defensive inside the first neutral trading area between 1157.90 - 1145.30 area and also between the major weekly trading area at 1163.80 and 1136.80. 
                                         
Day trades:  For The March contract -
 
Aggressive traders can sell rallies near 1156 - 1157.90 area and if possible near 1159.10 for obj. near 1153.50 - 1152.80 area.  (Use a buy stop and rev. long at 1160.10).
 
Aggressive traders can buy dips near 1147 - 1145.30 area for obj. near 1149 - 1151.50 area.  (Use a sell stop and rev. short at 1144).
 
Buy stop at 1160.10 for obj. near 1162 - 1163.80 area.
Buy stop at 1165.30 for obj. near 1168 - 1169 area.
Buy stop at 1171 for obj. near 1174 - 1176.60 area.
 
Sell stop at 1144 for obj. near 1142.50 - 1140.50 area.
Sell stop at 1135.70 for obj. near 1133.80 - 1132.80 area.
Sell stop at 1129 for obj. near 1127 - 126.40 gap area.
 

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

Bulletin - Originally sent 03/05/04 (9:38 am est)

 
The market just missed the buy area at 1147 on the open. 
 
Aggressive traders can buy at the market, which is trading at 1148.50 at this time.  The obj. is near 1151 - 1152 area.  (Continue to use a sell stop and rev. short at 1144).

Bulletin - Originally sent 03/05/04 (9:50 am est)

 
Long positions were taken at 1148.50.  The rally up to 1151 meets the obj. and completes the trade.

Bulletin - Originally sent 03/05/04 (10:12 am est)

 
The rally up to 1156 put traders into short positions.  The sell-off down to 1153.50 meets the obj. and completes the trade.

Bulletin - Originally sent 03/05/04 (10:35 am est)

 
The buy stop was hit at 1160 putting traders into long positions.  The rally up to 1162 meets the obj. and completes the trade.

Bulletin - Originally sent 03/05/04 (10:46 am est)

 
The rally up to 1163.70 hit the major resistance and is considered a sell.
 
Aggressive traders can sell at the market, which is trading at 1162.70 at this time.  The obj. is near 1159.50 - 1158 area.  Continue to use a buy stop and rev. long at 1165.

Bulletin - Originally sent 03/05/04 (11:07 am est)

 
Short positions were taken at 1162.70.  The sell off down to 1159.50 meets the obj. and completes the trade.

Results:    03/05/04

Bought @ 1148.50 Sold @ 1151   = + $   625.00         
Sold @ 1156 Bought @ 1153.50 = + $   625.00
Bought @ 1160 Sold @ 1162 = + $   500.00
Sold @ 1162.70 Bought @ 1159.50 = + $   800.00     sold as per bulletin
TOTAL (P & L)    +  $2,550.00
The week in review - 03/08/04 - 03/12/04
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 03-08-04:  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the March contract -
1159.40 intra-day channel and 1159.40 minor upper channel also 1160 peak (major area) / 1161.40 newly developed long-term major weekly channel (very major area) / 1163.50 weekly top and 1163.80 daily upper channel (major area) / 1165 daily upper channel also 1165.20 and 1165.50 minor weekly upper channels (very major area) / 1169 weekly top (major) / 1177 and 1178.50 monthly double top also 1180 weekly closing gap and 1180.90 long-term major weekly upper channel (very major area) / 1187 weekly closing price and 1189.20 minor weekly upper channel also 1189.50 weekly top (major area) / 1191.20 major weekly upper channel and 1194.80 major monthly upper channel (very major area).
 
Support:  For the March contract -
1156.70, 1155.50 and 1154.70 base area (major area) / 1152.80 minor weekly channel and 1151 intra-day gap also 1150.50 minor day channel without GBX prices (very major area) / 1148.20 minor weekly channel and 1147.80 major weekly channel also 1146.80 major day channel and GBX bottom (very major area) / 1143 weekly bottom and 1142.50 minor monthly channel without GBX prices also 1141.20 major monthly channel and 1140.50 weekly channel and day bottom (very major area) / 1137.80 day bottom and 1137 GBX bottom also 1136.50 weekly channel and 1135.30 long-term major weekly channel (very major area) / 1133.20 weekly bottom also 1133.30 day channel and 1132.20 long-term major day channel (very major area) / 1127 day bottom and 1126.40 day gap also 1126 GBX bottom (major area) / 1123.90 major weekly channel and 1123 weekly bottom (very major area) / 1121 weekly bottom and 1120.80 minor monthly channel (major area) / 1119.40 GBX bottom and 1118.10 major monthly channel (very major area) / 1113.80 and 1112 weekly bottoms (major area) / 1108.90 weekly closing gap (very major area).
 
Comments:
    The rally on Friday from the support area and sell-off from the major resistance proved the significance of each area but because the weekly closing price was higher from last Friday's close, it leaves the chart in neutral to bullish condition.  A trade above 1165 - 1165.50 area will be considered a breakout for higher prices.  A trade today below 1150.50 and 1146.80 areas are slightly bearish but only a trade below 1142.50 - 1140.50 area can bring any solid bearishness back to the chart.  Remain defensive inside the first neutral trading area between 1161.40 and 1152.80 and also between the major weekly range between 1165.50 and 1135.30.
                                             
Day trades:  For The March contract -
 
Aggressive traders can sell rallies near 1159 - 1161.40 area and if possible near 1163.80 for obj. near 1154 - 1152.80 area.  (Use a buy stop and rev. long at 1166.50).
 
Aggressive traders can buy dips near 1150.50 - 1148.20 area and if possible near 1147.80 - 1146.80 area for obj. near 1154 - 1157 area.  (Use a sell stop and rev. short at 1145).
 
Aggressive traders can buy dips near 1142.50 - 1141.20 area and if possible near 1140.50 area for obj. near 1145 - 1148 area.  (Use a sell stop and rev. short at 1139.90).
 
Buy stop at 1166.50 for obj. near 1169 top area.
Buy stop at 1171 for obj. near 1174 - 1177 area and possibly near 1180.
 
Sell stop at 1145 for obj. near 1143 - 1141.20 area.
Sell stop at 1139.90 for obj. near 1137.80 - 1136.80 area and possibly near 1135.30 area.
Sell stop at 1131 for obj. near 1128 - 1126 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 03/08/04 (10:40 am est)

 
The rally up to 1159 put traders into short positions.  The sell-off down to 1156.20 is an intra-day double bottom and can be considered support to exit short positions and take profits.  This completes the first trade.

Bulletin - Originally sent 03/08/04 (4:18 pm est)

 
The sell stop was hit at 1145 putting traders into short positions.  The sell-off down to 1143.30 is  near enough to the 1143 obj. and completes the trade.

Results:    03/08/04

Sold @ 1159 Bought @ 1156.50   = +  $   625.00           
Bought @ 1149 Sold @ 1145 = -  $1,000.00     
Sold @ 1145 Bought @ 1143.50 = + $   375.00
TOTAL (P & L)       $      -0- 
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 03-09-04:  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 -
1147 and 1147.80 peaks also 1147.80 peaks also 1147.80 intra-day channel (major area) / 1149.20 and 1149.80 peaks (major area) / 1150.60 and 1150.70 peaks also 1151.50 peak (major area) / 1153.30 intra-day channel and 1153.70 peak (major area) / 1155.30 intra-day channel and 1155.80 peak also 1156.50 minor day channel and 1157 and 1157.30 peaks (very major area) / 1158.50 and 1159.30 peaks (major area) / 1160 day top and 1161.40 long-term major weekly channel (very major area) / 1163.50 weekly top and 1164 daily upper channel (major area) / 1165.20 and 1165.50 minor weekly upper channels also 1166.50 daily upper channel (very major area) / 1169 weekly top (major) / 1177 and 1178.50 monthly double top also 1180 weekly closing gap and 1180.90 long-term major weekly upper channel (very major area) / 1187 weekly closing price and 1189.20 minor weekly upper channel also 1189.50 weekly top (major area).
 
Support:  For the March contract -
1143 weekly bottom and 1142.50 minor monthly channel without GBX prices also 1141.20 major monthly channel and 1140.50 weekly channel and day bottom (very major area) / 1137.80 day bottom and 1137 GBX bottom also 1136.50 weekly channel and 1135.30 long-term major weekly channel (very major area) / 1133.80 day channel and 1133.20 weekly bottom also 1132.20 long-term major day channel (very major area) / 1127 day bottom and 1126.40 day gap also 1126 GBX bottom (major area) / 1123.90 major weekly channel and 1123 weekly bottom (very major area) / 1121 weekly bottom and 1120.80 minor monthly channel (major area) / 1119.40 GBX bottom and 1118.10 major monthly channel (very major area) / 1113.80 and 1112 weekly bottoms (major area) / 1108.90 weekly closing gap (very major area).
 
Comments:
    The sell-off on Monday from the major resistance brought prices down near the major monthly and weekly support channels, at 1142.50, 1141.20 and 1140.50, leaving the chart neutral and defensive.  A failure below 1140.50 is bearish and will challenge the 1135.30 major channel and possibly near the 1132.20 long-term day channel.  A trade below 1132.20 will confirm a change in the major trend to the downside.  A trade today above 1155.30 - 1157.30 area is slightly bullish but only a trade above 1161.40 can bring any solid bullishness back to the chart.  Remain defensive inside the first neutral trading area between 1147.80 and 1142.50 area and also inside the wider 1157.30 - 1140.50 area.
                                                 
Day trades:  For The March contract -
 
Aggressive traders can sell rallies near 1147 - 1147.80 area for obj. near 1144 - 1142.50 area and possibly near 1141.20.  (Use a buy stop and rev. long at 1148.80). 
 
Aggressive traders can buy dips near 1142 - 1141.20 area and if possible near 1140.50 for obj. near 1145 - 1147 area.  (Use a sell stop and rev. short at 1139.90).
 
Buy stop at 1148.80 for obj. near 1150.50 - 1151.50 area and possibly near 1153.30.
Buy stop at 1157.70 for obj. near 1159 - 1161.40 area.
Buy stop at 1162.20 for obj. near 1163.50 - 1165 area.
 
Sell stop at 1139.90 for obj. near 1137.50 - 1136.80 area and possibly near 1135.30.
Sell stop at 1131 for obj. near 1128 - 1126 area.
Sell stop at 1116 for obj. near 1114 - 1112 and possibly near 1108.90 gap area. 
 

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

Bulletin - Originally sent 03/09/04 (9:45 am est)

 
The sell off down to 1142.70 was near enough to the 1142 buy area, putting traders into long positions.  The obj. remains at 1145 - 1147 area.  (Continue to use a sell stop and rev. short at 1139.90).

Bulletin - Originally sent 03/09/04 (9:49 am est)

 
Long positions were taken at 1142.90.  The rally up to 1145 meets the obj. and completes the trade.

Bulletin - Originally sent 03/09/04 (11:43 am est)

 
The sell-off down to the low end of the buy area put traders into long positions at 1140.50, which is the very major support. 
 
The rally up to 1145 meets the obj. and completes the trade.  

Bulletin - Originally sent 03/09/04 (1:59 pm est)

 
The sell stop at 1139.90 was hit, putting traders into short positions.  The market is proving to hold support at 1138.50. 
 
It is recommended for traders to exit the short position at the market, which is trading at 1139.50 and scratch the trade with a small profit.

Results:    03/09/04

Bought @ 1142.90 Sold @ 1145   = + $   525.00           
Sold @ 1146 Bought @ 1143 = + $   750.00
Bought @ 1140.50 Sold @ 1145 = + $1,125.00     
Sold @ 1139.90 Bought @ 1139.50 = + $   100.00     bought as per bulletin
TOTAL (P & L)    + $2,500.00       
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 03-10-04:  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 -
1140.80 intra-day channel also 1141.80 and 1142.50 peaks (major area) / 1144.30 and 1145 peaks also 1146 day top and 1147.10 GBX top (major area) / 1150.70 and 1151.50 peaks (major area) / 1153 minor day channel and 1153.70 peak (very major area) / 1157.30 and 1158.50 and 1159.30 peaks also 1160 day top (major area) / 1161.40 long-term major weekly channel (very major area) / 1163.50 weekly top and 1164.30 daily upper channel (major area) / 1165.20 and 1165.50 minor weekly upper channel (very major area) / 1168 daily upper channel and 1169 weekly top (major area) / 1177 and 1178.50 monthly double top also 1180 weekly closing gap and 1180.90 long-term major weekly upper channel (very major area).
 
Support:  For the March contract -
1136.90 newly developed day channel also 1136.30 bottom (major area) / 1135.30 long-term major weekly channel and 1134.90 long-term major day channel (very major area) / 1133.20 weekly bottom (major) / 1127 day bottom and 1126.40 day gap also 1126 GBX bottom (major area) / 1123.90 major weekly channel and 1123 weekly bottom also 1121 weekly bottom and 1120.80 minor monthly channel (very major area) / 1119.40 GBX bottom and 1118.10 major monthly channel (very major area) / 1113.80 and 1112 weekly bottoms (major area) / 1108.90 weekly closing gap (very major area) / 1103.50 monthly bottom (major) / 1097.20 weekly bottom and 1094.20 weekly bottom also 1093.50 weekly closing gap (very major area).
 
Comments:
    The sell-off on Tuesday broke below the 1140.50 major support area, which is bearish but prices managed to hold above the 1136.80 - 1135.30 major support area.  The market closed below the 1140.50 area which leaves the chart in neutral to bearish condition and very defensive.  A trade below the 1135.30 support will be a technical failure and the first signal of the beginning of a down trend.  A trade below the 1118.10 major channel will confirm the downtrend intact for lower prices.   A trade today above 1153 - 1153.70 area is slightly bullish but only a trade above 1161.40 can bring any solid bullishness back to the chart.  Remain defensive inside the first trading area between 1153 - 1135.30 area.
                                                     
Day trades:  For The March contract -
 
Aggressive traders can buy dips near 1137 - 1135.30 area for obj. near 1140 - 1142.50 area.  (Use a sell stop and rev. short at 1132.50).
 
Aggressive traders can sell rallies near 1151 - 1153 area for obj. near 1147 - 1145 area.  (Use a protective buy stop at 1156.  Do not rev. long).
 
Sell stop at 1132.50 for obj. near 1130 - 1128 area and possibly near 1126 gap.
Sell stop at 1125.70 area for obj. near 1123.90 - 1120.80 area.
Sell stop at 1116 for obj. near 1113.80 - 1112 area and possibly near 1108.90 gap area.
 
Buy stop at 1143.30 for obj. near 1145 - 1146 area and possibly near 1147.
Buy stop at 1149 for obj. near 1151 - 1153 area. 
Buy stop at 1166 for obj. near 1168 - 1169 area and possibly near 1171. 
 

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

Bulletin - Originally sent 03/10/04 (9:52 am est)

 
The sell-off down to 1138.10 is near enough to the 1137 buy area putting traders into long positions.  The obj. remains near 1140 - 1142.50 area.  Continue to use a sell stop and rev. short at 1132.50

Bulletin - Originally sent 03/10/04 (9:58 am est)

 
Long positions were taken at 1138.30.  The rally up to 1140 meets the obj. and completes the trade.

Bulletin - Originally sent 03/10/04 (10:00 am est)

 
Because of the significance in the support area at 1135.30, it is recommended for traders to attempt long positions again near 1137 - 1135.30 area.  The obj. for this repeated trade will still remain at 1140 - 1141.50 area.  (Continue to use a sell stop and rev. short at 1132.50). 

Bulletin - Originally sent 03/10/04 (10:35 am est)

 
Long positions were taken on the sell off at 1136.50.  The rally up to 1141 meets the obj. and completes the trade.

Bulletin - Originally sent 03/10/04 (1:52 pm est)

 
The sell stop was hit at 1132.50 putting traders into short positions.  the sell-off down to 1131 is near enough to the obj. of 1130 and completes the trade.

Results:    03/10/04

Bought @ 1138.30 Sold @ 1140   = + $   425.00           
Bought @ 1136.50 Sold @ 1140.50 = + $1,000.00     bought as per bulletin to repeat trade     
Sold @ 1132.50 Bought @ 1131.20 = + $   325.00
Sold @ 1125.70 Bought @ 1122 = + $   925.00
TOTAL (P & L)    + $2,675.00       
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 03-11-04:  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 June contract -
1121 intra-day channel (major area) / 1124.50 and 1126 peaks also 1126.60 intra-day channel (major area) / 1131.40 newly developed day channel also 1131.80, 1132.30 and 1133.30 peaks (very major area) / 1136.20 minor day channel also 1137, 1137.30 and 1137.50 peak area (major area) / 1140.50 day top (major) / 1144.80 day top (major) / 1147.90 minor day channel and 1149.20 peak (very major area) / 1157.30 peak and 1158.70 day top (major area) / 1160.40 proportional equivalent to the long-term major weekly channel (very major area) / 1162.40 week top for the June contract also 1163.50 daily upper channel (major area) / 1165.20 and 1165.50 minor weekly upper channels (very major area).
 
Support:  For the June contract -
1117.10 is the proportional equivalent for the major monthly channel (very major area) / 1113.50 and 1112 weekly bottoms (major area) / 1108.10 weekly closing gap (very major area) / 1104 and 1101.70 day bottoms also 1103.50 monthly bottom on the monthly chart (major area) / 1098.50 weekly bottom (major) / 1092.40 weekly closing gap (very major area) / 1083.50 weekly bottom on the June contract (major).
 
Comments:
    The sell-off on Wednesday brought prices below the major channels, putting the chart in bearish condition and is now at the beginning of a major downtrend.  A trade below 1117.10 will confirm the downtrend intact for lower prices to follow.  A trade today above 1131.80 and 1136.20 channels are slightly bullish but only a trade above 1147.90 channel can bring any solid bullishness back to the chart.  Remain defensive inside the first trading area between 1126.60 and 1117.10 area.  NOTE:  Due to the bearish conditions, (buy stop to rev. long) orders will not be used in Thursday's session.
                                                         
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1120.70 - 1121.30 area for obj. near 1119 - 1117.10 area.  (Use a protective buy stop at 1122.70.  Do not rev. long).
 
Aggressive traders can sell rallies near 1126 - 1131 area for obj. near 1122.50 - 1121.50 area.  (Use a protective buy stop at 1133.30.  Do not rev. long).
 
Aggressive traders can sell rallies near 1135 - 1136.20 area for obj. near 1131 - 1129 area.  (Use a protective buy stop at 1137.80.  Do not rev. long).
 
Sell stop at 1115.80 for obj. near 1113.50 - 1112 bottom areas and possibly near 1108.10 gap.
Sell stop at 1106 for obj. near 1104 - 1102.50 area.
Sell stop at 1096 for obj. near 1092.40 gap area and possibly near 1088 bottom.
 

* 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 03/11/04 (10:27 am est)

 
The rally up to 1120.30 put traders into short positions.  The sell off down to 1117 meets the obj. and completes the trade.
 
The sell stop at 1115.80 was hit and liquidated at 1117 taking a small loss.

Bulletin - Originally sent 03/11/04 (10:47 am est)

 
Short positions were taken again at 1122.  The sell off down to 1118.50 meets the obj. and completes the trade.

Bulletin - Originally sent 03/11/04 (1:40 pm est)

 
The rally up to 125.20 was near enough to the 126 sell area putting traders into short positions.  The sell-off down to 1122 meets the obj. and completes the trade.

Results:    03/11/04

Sold @ 1115.80 Bought @ 1117   = -  $   300.00           
Sold @ 1120.30 Bought @ 1117 = + $   825.00
Sold @ 1122 Bought @ 1118.50 = + $   875.00       
Sold @ 1125.20 Bought @ 1122 = + $   800.00
Sold @ 1106 Bought @ 1104 = + $   500.00
TOTAL (P & L)    + $2,700.00       
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 03-12-04:  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 June contract -
1106.50 peak (major) / 1109 peak and 1109.90 newly developed minor day channel also 1110.70 intra-day channel (very major area) / 1112.30, 1112.70 and 1113.50 peak areas (major area) / 1119.50 peak and 1122.30 major day channel (very major area) / 1124.50 peak and 1125.20 day top (major area) / 1131.80 peak and 1131.90 minor day channel (very major area) / 1137 peak and 1140.50 day top (major area) / 1144.30 minor day channel and 1144.80 day top (very major area).
 
Support:  For the June contract -
1103.50 is a double bottom to Thursday's day session low and the monthly chart's bottom (major area) / 1101.70 day bottom (major) / 1098.50 weekly bottom (major) / 1092.40 weekly closing gap and 1091.80 day bottom (very major area) / 1088 day bottom (major) / 1083.50 weekly bottom on the June contract and 1083.40 minor monthly channel also 1080.90 major weekly channel (very major area) / 1072.80 weekly channel and 1067.50 weekly bottom (very major area) / 1053 weekly and monthly bottom (very major area).
 
Comments:
    The sell-off on Thursday brought prices crashing down for the fourth day in a row trading through the weekly and monthly channels confirming a downtrend has developed and is intact for lower prices to be expected.  There remains the last major channels found on the monthly chart at 1083.40 and two from the weekly chart at 1080.90 and 1072.80 that could possibly stimulate some retracement rallies from these areas.  A trade today above the 1109.90 channel and again above the 1122.30 channel would both be slightly bullish but only a trade above the 1131.90 channel can bring any solid bullishness back to the chart.  A trade above the 1144.30 channel can reverse the major trend back to the upside for a technical key reversal, which seems unlikely at this time.  Remain defensive inside the first trading area between the 1109.90 and 1098.50.
                                                             
Day trades:  For The June contract -
 
Very aggressive traders can Buy or sell inside the first narrow trading area between 1106 and 1102, whichever side comes first, to complete the trade.  If the market opens above or below this trading area then this trade should be cancelled.
 
Aggressive traders can sell rallies near 1109 - 1109.90 area and if possible near 1110.70 for obj. near 1106 - 1103 area.  (Use a protective buy stop at 1114.70.  Do not rev. long).
 
Aggressive traders can sell rallies near 1119 - 1122 area if it can get there for obj. near 1115 - 1113 area.  (Use a buy stop and rev. long at 1126.70).
 
Very aggressive traders can attempt long positions near 1098.50 bottom area for obj. near 1100 - 1101.70 area and possibly near 1102.50.  (Use a sell stop and rev. short at 1097).
 
Buy stop at 1126.70 for obj. near 1129 - 1131.90 area.
Buy stop at 1133.30 for obj. near 1135 - 1137 area.
 
Sell stop at 1097 for obj. near 1092.50 gap area and possibly near 1091.80.
Sell stop at 1087 for obj. near 1083.40 major monthly channel and possibly near 1080.90 weekly channel.
 

* 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 03/12/04 (12:50 pm est)

 
The rally up to 1118.70 was near enough to the 1119 sell area, putting traders into short positions.  The sell off down to 1115 meets the obj. and completes the trade.

Bulletin - Originally sent 03/12/04 (12:55 pm est)

 
Correction - The market did not trade to 1118.70 in the June contract.  It was accidentally read in when the March hit 1118.70.  It was assumed to be the June.  There were no trades taken near the 1119 area yet. 

Bulletin - Originally sent 03/12/04 (2:57 pm est)

 
The rally up to 1118 is near enough to the 1119 sell area and is also considered a double top on the intra-day chart putting traders into short positions.
 
The sell-off down to 1115 meets the obj. and completes the trade.

Bulletin - Originally sent 03/12/04 (3:19 pm est)

 
Due to the significance of the resistance at the 1122.30 major channel area it is still considered a sell. 
 
It is recommended to sell near 1121 - 1122 area for obj. near 1118 - 1116 area and possibly near 1114.  (Continue to use a buy stop and rev long at 1126.70).  (Conservative traders can use a protective buy stop at 1123.70.  Do not rev. long).

Results:    03/12/04

Sold @ 1110.50 Bought @ 1114.70   = -  $1,050.00    
Sold @ 1118 Bought @ 1115 = + $   750.00     
TOTAL (P & L)    -  $   300.00
The week in review - 03/15/04 - 3/19/04
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 03-15-04:  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the June contract -
1119.80 day top (major) / 1122.70 peak and 1125.20 day top (major area) / 1127.60 minor day channel also 1128.80 peak (very major area) / 1131, 1131.80 and 1132.30 peaks (major area) / 1137 and 1137.50 peaks (major area) / 1140 peak and 1140.50 day top also 1140.70 minor day channel (very major area) / 1142.70 and 1143.80 peaks also 1144.80 day top (major area) / 1148.80 intra-day gap and 1149.30 peak (major area) / 1155.50 and 1157.30 peaks also 1158.70 weekly top and 1159.10 long-term major weekly channel (very major area) / 1162.30 weekly top (major area) / 1166.80 minor weekly upper channel (very major area).
 
Support:  For the June contract -
1114.50 base and 1114.40 rev. channel also 1113.50 minor day channel without GBX prices and 1113.20 base (major area) / 1110.80 base (major) / 1108.50 day bottom (major area) / 1107.20 newly developed long-term major weekly channel also 1106.10 newly developed major weekly channel (very major area) / 1105.60 GBX major weekly channel also 1104.30 day gap and 1103.50 weekly bottom without GBX prices (very major area) / 1101.70 day bottom and 1101.20 GBX bottom (major area) / 1098.90 minor daily down channel and 1098.50 weekly bottom (major area) / 1092.40 weekly closing gap and 1091.80 day bottom (very major area) / 1088 day bottom (major) / 1085.90 major weekly channel and 1083.50 weekly bottom also 1083.40 minor monthly channel (very major area) / 1076.50 weekly channel (very major area) / 1067.50 weekly bottom (major) / 1053 weekly and monthly bottom (very major area).
 
Comments:
    The recovery rally on Friday brought prices up near a very major resistance but managed to close above that same channel, which now moves down to 1113.20 and now for Monday becomes support, leaving the chart neutral to slightly bearish between the weekly range between 1127.60 - 1107.20.  A trade today above 1127.60 is slightly bullish but only a trade above 1140.70 channel can bring any solid bullishness back to the chart.  A trade today below 1113.20 is bearish and can bring prices down to challenge 1107.20 and 1104.30 gap and possibly near 1098.70 channel.  A trade below 1098.70 can challenge the 1092.40 weekly gap and possibly near the 1085.90 and 1083.40 major channels, which can very easily stimulate buying and make a major retracement to the upside.  Remain defensive inside the first trading area between 1119 -1122.70 resistance and 1114.50 - 1113.20 support area.
                                                                 
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1119 - 1122.70 or buy dips near 1115.50 - 1114.50 area, whichever side comes first to complete the trade.  (Use a protective buy stop at 1123.20.  Do not rev. long).  (Use a protective sell stop at 1112.70.  Do not rev. short).
 
Aggressive traders can sell rallies near 1127 - 1127.60 area for obj. near 1125 - 1123 area.  (Use a buy stop and rev. long at 1129.20).
 
Aggressive traders can attempt long positions near 1107.60 - 1106 area for obj. near 1111 - 1112 area.  (Use a sell stop and rev. short at 1105).
 
Buy stop at 1129.20 for obj. near 1131 - 1133 area.
Buy stop at 1134.70 for obj. near 1137 - 1138 area and possibly near 1140.70.
Sell stop at 1110 for obj. near 1108.50 bottom and possibly near 1107.60 - 1106 area.
 
Sell stop at 1105 for obj. near 1103 - 1102.20 area.
Sell stop at 1101 for obj. near 1098.90 channel and 1098.50 bottom area.
Sell stop at 1096.70 for obj. near 1093.50 - 1092.40 gap area.
 

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

Bulletin - Originally sent 03/15/04 (10:58 am est)

 
The sell stop at 1110 was hit putting traders into short positions.  The sell-off down to 1107.60 meets the obj. and completes the trade.

Bulletin - Originally sent 03/15/04 (11:48 am est)

 
The sell off down to 1107.60 put traders into long positions.  The market is showing resistance at the 1109.50 area, which can prevent the 1111 obj. from being met. 
 
It is recommended for traders to exit the long position at the market, which is trading at 1107.80 at this time, and take small profits.

Bulletin - Originally sent 03/15/04 (12:09 pm est)

 
The sell stop at 1105 was hit, putting traders into short positions.  The sell off down to 1103.50 is near enough to the 1103 obj. and completes the trade.

Results:    03/15/04

Bought @ 1115 Sold @ 1112.70   = -  $   575.00           
Sold @ 1110 Bought @ 1107.60 = + $   600.00     
Bought @ 1107.60 Sold @ 1107.80 = + $     50.00
Sold @ 1105 Bought @ 1103.70 = + $   325.00
TOTAL (P & L)    + $   400.00       
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 03-16-04:  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the June contract -
1106.70 and 1107.50 intra-day channels also 1107.50 peak (major area) / 1109 and 1109.70 peaks also 1110.20 newly developed day channel and 1110.20 peak (very major area) / 1114.50 peak and 1114.90 newly developed minor day channel also 1115.40 peak and 1115.80 day top (very major area) / 1118.10 weekly closing gap and 1118.30 GBX top also 1119.80 day top (major area) / 1123.30 minor day channel and 1124.50 peak also 1125.20 day top (very major area) / 1132.30 intra-day peak (major) / 1137 peak and 1137.10 minor day channel (very major area) / 1140.50 day top (major) / 1144.80 day top (very major area) / 1148.80 intra-day gap and 1149.20 peak (major area) / 1156.80 weekly closing price and 1158.70 weekly top also 1159.10 long-term major weekly channel (very major area).
 
Support:  For the June contract -
1103.40 intra-day channel and 1102.80 base also 1102.20 base and 1101.70 day bottom also 1101.20 GBX weekly bottom (major area) / 1098.50 weekly bottom and 1096.60 minor down channel (major area)/ 1092.40 weekly closing gap and 1091.80 day bottom (very major area) / 1088 day bottom (major) / 1085.90 major weekly channel and 1083.50 weekly bottom also 1083.40 minor monthly channel (very major area) / 1076.50 weekly channel (very major area) / 1067.50 weekly bottom (major) / 1053 weekly and monthly bottom (very major area).
 
Comments:
    The sell-off on Monday brought prices down near the double bottom to last week's low but settled in neutral to bearish condition for possible lower prices to materialize.  A trade below 1101.70 - 1101.20 bottom area can bring prices down to challenge the 1096.60 channel and the 1092.40 gap area and possibly near the 1085.90 and 1083.40 major channels.  The 1085.90 and 1083.40 channels are significant enough support areas to stimulate buying for a substantial upward retracement to develop.  A trade today above the 1110.20 and 1114.90 day channels would be considered slightly bullish but only a trade above 1123.30 channel can bring any solid signal for retracement to develop near the 50% retracement area of 1132.  Remain defensive inside the first trading area between 1110.20 and 1103.40 area also between the second area of 1114.90 and 1096.60.
                                                                     
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1109 - 1110.90 area for obj. near 1104.50 - 1103.40 area and possibly near 1102.50.  (Use a buy stop and rev. long at 1111.50).  NOTE:  If the market opens above 1110.20 today this first trade will be cancelled.
 
Aggressive traders can sell rallies near 1114 - 1114.90 area for obj. near 1112 - 1110 area.  (Use a buy stop and rev.long at 1116.70).
 
Aggressive traders can sell rallies near 1123 - 1123.30 area for obj. near 1119.50 - 1118 area.  (Use a buy stop and rev. long at 1126.70).
 
Buy stop at 1111.50 for obj. near 1114 - 1114.90 area.
Buy stop at 1116.70 for obj. near 1118 - 1119 area.
Buy stop at 1126.70 for obj. near 1123.70 - 1122 area.
 
Sell stop at 1101 for obj. near 1098.50 - 1096.60 area.
Sell stop at 1095.70 for obj. near 1092.40 gap and possibly near 1091.80 bottom.
Sell stop at 1090 for obj. near 1085.90 - 1083.40 area.
 

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

Bulletin - Originally sent 03/16/04 (9:39 am est)

 
The buy stop was hit at 1111.50 putting traders into long positions.  The rally up to 1112.90 is near enough to the 1114 obj. and completes the trade.

Bulletin - Originally sent 03/16/04 (10:17 am est)

 
Short positions were taken at 1112.70.  The sell-off down to 1110 meets the  obj. and completes the trade.

Bulletin - Originally sent 03/16/04 (3:33 pm est)

 
The sell stop was hit at 1101 putting traders into short positions.  the rally from the 1101 area is proving to have support but can be on a temporary basis. 
 
Aggressive traders can remain short until the obj. at 1098.50 - 1096.60 is reached or exit at market on close.  Protective buy stops must be placed above the 1110.90 resistance area.  Conservative traders can exit near 1104 and cut losses.

Results:    03/16/04

Sold @ 1111.50 Bought @ 1112.70   = +  $   300.00           
Sold @ 1112.70 Bought @ 1110 = +  $   675.00     
Sold @ 1101 Bought @ 1110.30 = -   $2,325.00
TOTAL (P & L)    -   $1,350.00 
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 03-17-04:  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 June contract -
1111.40 minor day channel and 1111.90 peak also 1112.30 peak (major area) / 1115.80 day top (major) / 1118.10 weekly closing gap and 1118.30 GBX top also 1119 minor day channel and 1119.80 day top (very major area) / 1124.50 peak and 1125.20 day top (major area) / 1131.60 is the 50% retracement made over the last 8 days also 1131.80 and 1133.30 peaks also 1133.50 minor day channel (very major area) / 1137 peak and 1138.30 day session closing price (major area) / 1140.50 day top (major) / 1142.70 and 1143.80 peaks also 1144.80 day top (major area) / 1156.80 weekly closing price and 1157.30 peak also 1158.70 weekly top and 1159.10 long-term major weekly channel (very major area). 
 
Support:  For the June contract -
1109 base (major) / 1106.70 and 1106.30 base also 1106.20 intra-day gap (major area) / 1102.50 base and 1102 newly developed long-term major day channel (major area) / 1100.30 and 1099.90 minor daily down channel lines also 1098.50 weekly bottom (very major area) / 1092.40 weekly closing gap and 1091.80 day bottom (very major area) / 1088 day bottom (major) / 1085.90 major weekly channel and 1083.50 weekly bottom also 1083.40 minor monthly channel (very major area) / 1076.50 weekly channel (very major area) / 1067.50 weekly bottom (major) / 1053 weekly and monthly bottom (very major area).
 
Comments:
    The rally on Tuesday is considered a minor technical key reversal to the upside, which removes the bearishness from the chart.  It leaves the chart in neutral condition between the 1118.10 - 1119 major resistance and the 1102.50 - 1098.50 major support areas.  A trade above 1119 can bring prices up to challenge the 1125.20 top and possibly near the 1131.60 area, which is the 50% retracement between the 1162.30 top and 1101 bottom made in the last 8 trading days.  A trade below 1099.90 - 1098.50 area can challenge prices near the 1092.40 gap and possibly near the 1085.90 and 1083.40 major support areas, which can stimulate buying due to the significance of these areas.  Traders should expect whiplashing to both sides of the major areas between 1131.60 and 1083.40 until a significant amount of chart formation can develop to confirm a specific direction.  Remain defensive today inside the first trading area between 1115 and 1106.70 and also inside the 1119 - 1102.50 major daily area.
                                                                         
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1113 - 1115 area or buy dips near 1108 - 1106.70 area, whichever side comes first, to complete the trade.  (Use a buy stop and rev. long at 1116.30).  (Use a sell stop and rev. short at 1105.50).
 
Aggressive traders can sell rallies near 1118 - 1119 area for obj. near 1115 - 1113 area.  (Use a buy stop and rev. long at 1122.30).
 
Aggressive traders can buy dips near 1103 - 1099.90 area for obj. near 1106 - 1108 area.  (Use a sell stop and rev. short at 1095.50).
 
Buy stop at 1116.30 for obj. near 1118 - 1119 area.
Buy stop at 1122.30 for obj. near 1124.30 - 1125 area.
Buy stop at 1127 for obj. near 1130 - 1131.60 area and possibly near 1133.50.
 
Sell stop at 1105.50 for obj. near 1103.50 - 1102.50 area and possibly near 1099.90.
Sell stop at 1095.50 for obj. near 1093.50 - 1092.40 gap area and possibly near 1091.80 bottom.
 

* 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 03/17/04 (11:53 am est)

 
It is not certain whether the buy stop at 1122.30 was hit.  The intra-day chart shows 1122.20 as a high, but the daily chart shows 1122.40 as a high. 
 
It is recommended to re-enter short positions if the buy stop was hit and exit long positions.  The obj. for short positions remains at 1115.  Use a new buy stop and rev. long at 1123.30.
 
The obj. for 1123.30 if it gets hit, will be 1124.60 - 1125.20.

Bulletin - Originally sent 03/17/04 (12:55 am est)

 
Due to the intra-day technical formation at this time, long positions will not be taken at the buy stop at 1123.30. 
 
Continue to use a protective buy stop at 1123.30 to protect short positions.  The obj. for all short positions still remains at 1115 - 1113 area.

Bulletin - Originally sent 03/17/04 (2:35 pm est)

 
The market is showing signs of support at the 1120.70 area the can prevent the 1115 obj. from being met.
 
It is recommended for traders to exit the short positions at the market, which is trading at 1121.50 at this time and cut losses.

Results:    03/17/04

Sold @ 1114.50 Bought @ 1116.30   = -  $   450.00           
Bought @ 1116.30 Sold @ 1118.50 = + $   550.00
Sold @ 1118.50 Bought @ 1122.30 = -  $   950.00     
Sold @ 1122 Bought @ 1121.50 = + $   125.00     sold as per bulletin
TOTAL (P & L)    -  $   725.00 
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 03-18-04:  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 June contract -
1124.70 newly developed minor day channel also 1124.80 and 1125.20 day tops (major area) / 1129.90 minor day channel also 1131.60 is the 50% retracement area and 1131.80 peak (very major area) / 1133.30 peak (major) / 1137 peak and 1138.30 day session closing price (major area) / 1140.50 day top (major) / 1142.70 and 1143.80 peaks also 1144.80 day top (major area) / 1156.80 weekly closing price and 1157.30 peak also 1158.70 weekly top and 1159.10 long-term major weekly channel (very major area). 
 
Support:  For the June contract -
1120.70 and 1119.70 base area (major area) / 1118 newly developed day channel with GBX prices and 1116.80 base and congestion area (very major) / 1113.50 day bottom and 1113 rev. peak (major area) / 1110.30 day gap (major) / 1106.70 and 1106.30 base also 1106.20 intra-day gap (major area) / 1102.50 base and 1102.50 long-term major day channel (major area) / 1101 day bottom also 1099.60 and 1099 minor daily down channels also 1098.50 weekly bottom (very major area) / 1092.40 weekly closing gap and 1091.80 day bottom (very major area) / 1088 day bottom (major) / 1085.90 major weekly channel and 1083.50 weekly bottom also 1083.40 minor monthly channel (very major area) / 1076.50 weekly channel (very major area) / 1067.50 weekly bottom (major) / 1053 weekly and monthly bottom (very major area).
 
Comments:
    The rally on Wednesday brought prices up to challenge the 1125.20 top area but failed to penetrate through, leaving the chart neutral and defensive inside the 1129.90 - 1110.30 trading area.  A trade today above 1125.20 is slightly bullish but a trade above the 1129.90 - 1131.60 area is bullish and can bring prices up to challenge the 1140.50 - 1144.80 top area and possibly near the 1159.10 major weekly resistance area.  A trade today below 1120.70 - 1118 area is slightly bearish but a trade below 1110.30 - 1106.70 area can bring prices down to challenge the 1099.60 - 1098.50 channel support area and possibly near the 1092.40 gap and 1085.90 major channel support.  Remain defensive inside the first trading area between 1124.70 and 1118 and also the major trading area between 1129.90 and 1110.30.
                                                                             
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1124 - 1125 area or buy dips near 1120.70 - 1119.70 area, whichever side comes first, to complete the trade.  (Use a buy stop and rev. long at 1126).  (Use a sell stop and rev. short at 1115.80).
 
Buy stop at 1126 for obj. near 1129 - 1129.90 area and possibly near 1131.60.
Buy stop at 1134.60 for obj. near 1136.50 - 1137 area.
 
Sell stop at 1115.80 for obj. near 1114 - 1113.50 area and possibly near 1110.30 gap.
Sell stop at 1108.90 for obj. near 1106.90 - 1106.30 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 03/18/04 (1:25 pm est)

 
The sell stop at 1115.80 was hit putting traders into short positions.  The sell-off down to 1112 meets the obj. and completes the trade. 
 
The rally up to the sell area at 1124 put traders into short positions.  The sell-off down to 1120.70 meets the obj. and completes the trade.

Results:    03/18/04

Bought @ 1119 Sold @ 1115.80   = -  $   800.00           
Sold @ 1115.80 Bought @ 1112 = + $   950.00
Sold @ 1124 Bought @ 1120.70 = + $   825.00     
Bought @ 1119 Sold @ 1124 = + $1,250.00
TOTAL (P & L)    + $2,225.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 03-19-04:  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 June contract -
1124.80 double top and 1125.20 day top also 1126.30 minor day channel (very major area) / 1131.60 is the 50% retracement area and 1131.80 peak (major area) / 1133.30 peak (major) / 1137 peak and 1138.30 day session closing price (major area) / 1140.50 day top (major) / 1142.70 and 1143.80 peaks also 1144.80 day top (major area) / 1156.80 weekly closing price and 1157.30 peak also 1158.70 weekly top and 1159.10 long-term major weekly channel (very major area). 
 
Support:  For the June contract -
1121 and 1120.70 base area also 1120.70 intra-day channel (major area) / 1117 newly developed day channel also 1116.70 and 1116.50 base area (very major area) / 1113.90 minor GBX channel (significant) / 1111.70 bottom to 1110.30 day gap also 1109.50 GBX bottom (very major area) / 1106.70 and 1106.30 base also 1106.20 intra-day gap (major area) / 1104 long-term major day channel (very major area) / 1101 day bottom and 1098.50 weekly bottom also 1098.90 and 1098.10 minor down channel (very major area) / 1092.40 weekly closing gap and 1091.80 day bottom (very major area) / 1088 day bottom (major) / 1085.90 major weekly channel and 1083.50 weekly bottom also 1083.40 minor monthly channel (very major area) / 1076.50 weekly channel (very major area) / 1067.50 weekly bottom (major) / 1053 weekly and monthly bottom (very major area).
 
Comments:
    The whiplashing action on Thursday was likely as mentioned in Wednesday's report, due to the neutral and defensive condition in the chart.  The same whiplashing action is expected on Friday until a significant amount of technical formation can develop to indicate the direction of the next leg.  A trade above 1126.30 is slightly bullish but only a trade and close above 1133.30 can bring any significant bullishness back to the chart.  A trade below 1117 today is slightly bearish but only a trade and close below 1106.70 can bring any solid bearishness back to the chart.  Remains defensive inside the first trading area between 1126.30 and 1117.
                                                                                 
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1124 - 1126.30 area for obj. near 1118 - 1117 area, whichever side comes first to complete the trade.  (Use a buy stop and rev. long at 1129.30).  (Use a sell stop and rev. short at 1113).
 
Buy stop at 1129.30 for obj. near 1131 - 1133.50 area.
Buy stop at 1134.60 for obj. near 1136.50 - 1137 area and possibly near 1139.
Buy stop at 1146.80 for obj. near 1153 - 1156 area and possibly near 1159.10.
 
Sell stop at 1113 for obj. near 1110.30 gap and possibly near 1109.50.
Sell stop at 1105.80 for obj. near 1104 and possibly near 1102.50.
Sell stop at 1097 for obj. near 1093.50 - 1092.40 gap area and possibly near 1088.
 

* 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 03/19/04 (9:34 am est)

 
The 1119 is near enough to the 1118 buy area putting traders into long positions.  The  obj remains near 1124 - 1126.20 area. 

Bulletin - Originally sent 03/19/04 (11:04 am est)

 
Long positions were taken at 1119 and 1117.  The rally up to 1120.30 is showing signs of resistance at this time and because of the neutral conditions in the chart it is not worth risking to look for the obj. at 1124 - 1126.30 area.
 
It is recommended to exit long positions at the market, which is trading at 1119 and take small profits and scratch the trade.

Bulletin - Originally sent 03/19/04 (3:26 pm est)

 
The sell stop was hit at 1113 putting traders into short positions.  The sell-off down to 1111 is near enough to the 1110.30 obj. and completes the trade.

Bulletin - Originally sent 03/19/04 (3:32 pm est)

 
NOTE:  There was a miss-print signal on my screen for the low of  the S & P.  The correct low was 1111.30, which is also near enough for traders to exit and take profits as well. 

Results:    03/19/04

Bought @ 1119 Sold @ 1119   =     $     -0-         sold as per bulletin       
Bought @ 1117 Sold @ 1119 = +  $   500.00     sold as per bulletin     
Sold @ 1113 Bought @ 1111.50 = +  $   375.00
TOTAL (P & L)    +  $   875.00 
The week in review - 03/22/04 - 03/26/04
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 03-22-04:  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the June contract -
1109.50 intra-day channel and peak also 1110.30 peak (major area) / 1113.50 peak and 1114.70 peak also 1115.50 intra-day channel (major area) / 1117.20 intra-day gap and 1118.30 peak also 1117.90 and 1119.20 day channels without GBX prices also 1119.70 and 1120 peaks (very major area) / 1122 day top and 1122.80 day gap also 1123.70 newly developed day channel with GBX prices and 1124.80 weekly top excluding GBX prices (very major area) / 1127.20 GBX weekly top (major) / 1131.60 is the 50% retracement area and 1131.80 peak (major area) / 1133.30 peak (major) / 1137 peak and 1138.30 day session closing price (major area) / 1140.50 day top (major) / 1142.70 and 1143.80 peaks also 1144.80 day top (major area) / 1156.80 weekly closing price and 1157.30 long-term major weekly channel (very major area).
 
Support:  For the June contract -
1106.90 newly developed long-term major weekly channel and 1106.50 day bottom also 1104.80 long-term major day channel (very major area) / 1102.10 day channel and 1101 weekly bottom also 1100.50 weekly minor down channel (very major area) / 1098.50 weekly bottom and 1098.20 minor daily down channel (major area) / 1092.90 weekly channel also 1092.40 weekly closing gap and 1091.80 day bottom (very major area) / 1089.10 major weekly channel and 1088 day bottom (very major area) / 1083.50 weekly bottom and 1083.40 minor monthly channel also 1080.20 major weekly channel (very major area) / 1075 day bottom (major) / 1067.50 weekly bottom and 1066 weekly bottom in the June contract (major area) / 1053 weekly and monthly bottom (very major area).
 
Comments:
    The sell-off on Friday brought prices down into bearish territory but because the market failed to close on Friday below 1106.70, it leaves the chart defensive for possibly buying pressure and price retracements back to the upside resistance.  A trade below the 1102.10 - 1100.50 channels and also below the 1098.20 channel can bring solid bearishness for lower prices to develop.  A trade below the 1083.40 monthly channel and 1080.20 weekly channel can bring prices down to challenge the 1167.50 and 1153 major bottom areas.  A trade today above 1117.90 - 1119 channels would be slightly bullish but only a trade above 1123.70 - 1124.80 area can bring any solid bullishness back to the chart.  Remain defensive inside the first major trading area between 1117.90 - 1100.50 area and the minor trading area between 1113 - 1115.50 and 1104.80 - 1102.10 area.   
                                                                                 
Day trades:  For The June contract -
 
Aggressive traders can buy dips near 1102.10 - 1098.20 area for obj. near 1106 - 1109.50 area.  (Use a sell stop and rev. short at 1095.70).
 
Aggressive traders can sell rallies near 1115.50 and 1117.90 area and if possible near 1119 for obj. near 1110.30 - 1109.50 area.  (Use a buy stop and rev. long at 1120.90).
 
Buy stop at 1120.90 for obj. near 1122.80 gap - 1123.70 area.
Buy stop at 1128 for obj. near 1131 - 1133 area.
Buy stop at 1134.60 for obj. near 1136.50 - 1137 area and possibly near 1138.30.
 
Sell stop at 1095.70 for obj. near 1092.90 - 1091.80 area.
Sell stop at 1086.70 for obj. near 1083.50 - 1081 area.
Sell stop at 1079 for obj. near 1077 - 1074 area. 
 

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

Results:    03/22/04

Bought @ 1101.70 Sold @ 1095.70   = -  $1,500.00    
Sold @ 1095.70 Bought @ 1092 = + $   925.00     
TOTAL (P & L)    -  $   575.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 03-23-04:  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 June contract -
1093.70 peak and 1094 intra-day channel also 1095 peak (major area) / 1096.70 and 1097.30 peaks (major area) / 1099.70 peak (major) / 1002 day top to 1007.30 day gap (major area) / 1113.50 peak and 1113.80 day channel without GBX prices (very major area) / 1116.30 minor day channel without GBX prices (major area) / 1118.30 peak and 1120.20 day channel with GBX prices (very major area) / 1122 day top and 1122.80 day gap (major area) / 1124.80 weekly top excluding GBX prices and 1125.20 day top (major area) /1127.20 GBX weekly top (major) / 1131.60 is the 50% retracement area and 1131.80 peak (major area) / 1133.30 peak (major) / 1137 peak and 1138.30 day session closing price (major area) / 1140.50 day top (major).
 
Support:  For the June contract -
1091.50 intra-day channel also 1090.50 and 1090 base (major area) / 1087.50 day bottom and 1085 10 down channel (major area) / 1083.50 weekly bottom and 1083.40 minor monthly channel (very major area) / 1080.20 major weekly channel and 1080 day bottom (very major area) / 1075 day bottom (major) / 1067.50 weekly bottom and 1066 weekly bottom in the June contract (major area) / 1053 weekly and monthly bottom (very major area).
 
Comments:
    The sell-off on Monday brought prices down near the very critical support area at 1089.10 and 1083.40.  As mentioned in last Tuesday's report this area is significant enough to possibly stimulate buying for a substantial upward retracement.  A trade below the 1083.40 and 1080.20 channels will fail this major support area for lower prices to follow.  A trade today above 1094 - 1095 area can stimulate some rallies but only a trade above the 1113.50 and 1120.20 channels can bring any solid bullishness back to the chart.  Remain defensive inside the first trading area between 1094 - 1095 resistance and 1091.50 - 1090.50 support and also the very major trading area between 1113.50 - 1116.30 channel resistances and 1083.40 - 1080.20 channel supports.
 
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1094 - 1095 area or buy dips near 1092 - 1090.50 area, whichever side comes first, to complete the trade.  (Use a buy stop and rev. long at 1098).  (Use a sell stop and rev. short at 1089.50).
 
Aggressive traders can buy dips near 1083.40 - 1080.20 area for obj. near 1087 - 1091 area.  (Use a sell stop and rev. short at 1079.80).
 
Aggressive traders can sell rallies near 1113.50 - 1116.30 area if it gets there for obj. near 1110 - 1108 area.  (Use a protective buy stop at 1117.30.  Do not rev. long).
 
Buy stop at 1098 for obj. near 1099.70 - 1101 area.
Buy stop at 1103.30 for obj. near 1106 - 1107.30 gap area.
 
Sell stop at 1089.50 for obj. near 1087.50 and possibly near 1085.10 - 1083.40 area.
Sell stop at 1079.80 for obj. near 1076.80 - 1075 bottom 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 03/23/04 (9:15 am est)

 
The market has traded through the 1098 buy stop in the overnight session putting the chart in a position for possible retracements to higher prices. 
 
The sell area at 1094 - 1095 is now cancelled.  The buy area is still intact at the 1092 - 1090.50 area.  Continue to use a sell stop and rev. short at 1089.50.
 
Very aggressive traders can attempt long positions in the 1094 - 1095 area for obj. near 1099 - 1101 area.  (Use a sell stop and rev. short at 1089.50)

Bulletin - Originally sent 03/23/04 (10:26 am est)

 
Very aggressive traders entered long positions on the sell-off down to 1095.70, which is near enough to the 1095. 
 
It is still considered a buy at the 1092 - 1090.50 area.  Continue to use a sell stop at 1089.50 to protect and rev. all long positions.

Bulletin - Originally sent 03/23/04 (10:35 am est)

 
Long positions were taken at 1095.90.  The rally up to 1098.70 is near enough to the 1099.70 obj. and completes the trade.

Bulletin - Originally sent 03/23/04 (11:16 am est)

 
The sell-off down to 1095 put traders into long positions again.  The  rally up to 1099 is near enough to the 1099.70 obj. and completes the trade.
 
NOTE:  The 1095 - 1094 buy area is finished.  It is still considered a buy at the 1092 - 1090.50 area.

Bulletin - Originally sent 03/23/04 (12:07 pm est)

 
The sell off down to 1092.80 is near enough to the 1092 buy area, putting traders into long positions.  The rally up to 1095.50 meets the obj. and completes the trade.

Bulletin - Originally sent 03/23/04 (12:17 pm est)

 
The sell off down to 1091.50 put traders into long positions again.  The obj. remains at 1094 - 1095 area.  (Continue to use a sell stop and rev. short at 1089.50).

Bulletin - Originally sent 03/23/04 (1:05 pm est)

 
Long positions were taken at 1091.50 and 1090.50.  The rally up to 1093.50 is near enough to the 1094 obj. and completes the trade.

Results:    03/23/04

Bought @ 1095.90 Sold @ 1098.70   = + $   700.00     bought as per bulletin           
Bought @ 1095 Sold @ 1099 = + $1,000.00
Bought @ 1092.90 Sold @ 1095.50 = + $   650.00       
Bought @ 1091.50 Sold @ 1093.50 = + $   500.00
Bought @ 1090.50 Sold @ 1093.50 = + $   750.00
TOTAL (P & L)    + $3,600.00       
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 03-24-04:  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 June contract -
1093.20 day channel with GBX prices (major) / 1095.50 peak and 1095.70 intra-day gap (major area) / 1098.60 intra-day channel and minor day channel (very major area) / 1100 peak and 1100.30 day top (major area) / 1102 day top and 1103.50 intra-day channel (major area) / 1107.30 day gap and 1107.40 GBX top also 1109.80 day channel without GBX prices (very major area) / 1116.70 day channel with GBX prices and 1118.30 peak (very major area) / 1122 day top and 1122.80 day gap (major area) / 1124.80 weekly top excluding GBX prices and 1125.20 day top (major area) /1127.20 GBX weekly top (major) / 1131.60 is the 50% retracement area (major area).
 
Support:  For the June contract -
1089.10 day channel and 1087.50 day bottom (major area) / 1083.50 weekly bottom and 1083.40 minor monthly channel (very major area) / 1080.20 major weekly channel and 1080 day bottom (very major area) / 1075 day bottom (major) / 1067.50 weekly bottom and 1066 weekly bottom in the June contract (major area) / 1053 weekly and monthly bottom (very major area).
 
Comments:
    The whiplashing action seen in Tuesday's session had all to do with the market facing major support areas inside bearish conditions.  If the market continues to hold above the 1087.50 bottom and the 1083.40 - 1080.20 major support channels then substantial rallies can develop.  A trade today above 1103.50 will challenge the 1109.80 area and possibly near the 1113.50 - 1116.70 major channel resistance.  A trade above the 1122 - 1124.80 top areas can challenge the 50% retracement area at 1131.60.  A trade below 1083.40 - 1080.20 area will fail the major support channels and can bring prices down to challenge near the 1067.50 and 1053 major bottoms.  Remain defensive inside the first trading area between 1093.20 and 1089.10 area and also between the 1098.60 and 1083.40 area.
   
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1093 - 1093.60 area or buy dips near 1091 - 1089.10 area, whichever side comes first, to complete the trade.  (Use a buy stop and rev. long at 1094).  (Use a sell stop and rev. short at 1087).
 
Aggressive traders can sell rallies near 1096 - 1098.60 area for obj. near 1092 - 1090 and possibly near 1087.50 bottom.  (Use a buy stop and rev. long at 1100.90).
 
Aggressive traders can buy dips near 1084.50 - 1083.40 area for if possible near 1080.20 for obj. near 1087.50 - 1089.50 area and possibly near 1092.  (Use a sell stop and rev. short at 1079.50).
 
Aggressive traders can attempt short positions near 1107 - 1109.80 area for obj. near 1104.50 - 1103.50 area.  (Use a buy stop and rev. long at 1111).
 
Buy stop at 1094 for obj. near 1096 - 1098.60 area
Buy stop at 1100.90 for obj. near 1102.50 - 1103.50 area.
Buy stop at 1104.70 for obj. near 1107 - 1109.80 area.
Buy stop 1110.80 for obj. near 1112.80 - 1113.50 area.
 
Sell stop at 1087 for obj. near 1084.50 - 1083.40 area and possibly near 1080.20.
Sell stop at 1079.50 for obj. near 1076 - 1075 area.
Sell stop at 1073.50 for obj. near 1069 - 1067.50 area.
Sell stop at 1064.50 for obj. near 1059 - 1055 area and possibly near 1053. 
 

* 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 03/24/04 (9:39 am est)

 
Short positions were taken at 1093.  The sell off down to 1091 meets the obj. and completes the trade.

Bulletin - Originally sent 03/24/04 (9:53 am est)

 
Long positions were taken at 1091.  The rally up to 1093 meets the obj. and completes the trade. 

Bulletin - Originally sent 03/24/04 (10:11 am est)

 
The buy stop was hit at 1094, putting traders into long positions. 
 
The sell off down to 1091 hit the buy area, where long positions were taken again.  Traders are now long at 1094 and 1091.  The obj. is 1096 - 1098.60 area.  (Continue to use a sell stop and rev. short at 1087).

Bulletin - Originally sent 03/24/04 (10:25 am est)

 
The rally up to 1094 is showing signs of resistance.  Exit the long positions and scratch the trade.  The market is trading at 1093.50.

Bulletin - Originally sent 03/24/04 (11:13 am est)

 
The sell stop at 1087 was hit, putting traders into short positions.  The sell off down to 1085 is near enough to the 1084.50 obj. and completes the trade.

Bulletin - Originally sent 03/24/04 (11:21 am est)

 
The sell off down to 1085 was near enough to the buy area at 1084.50, putting traders into long positions.  The rally up to 1087.50 meets the obj. and completes the trade.

Bulletin - Originally sent 03/24/04 (1:42 pm est)

 
The rally up to 1096 - 1098.60 area put traders into short positions at 1096.50.  The sell off down to 1092.50 is near enough to the 1092 obj. and completes the trade.

Results:    03/24/04

Sold @ 1093 Bought @ 1091   = + $   500.00               
Bought @ 1091 Sold @ 1093 = + $   500.00
Bought @ 1094 Sold @ 1093.50 = -  $   125.00
Bought @ 1091 Sold @ 1093.50 = + $   625.00
Sold @ 1087 Bought @ 1085 = + $   500.00       
Bought @ 1085 Sold @ 1087.50 = + $   625.00
Sold @ 1096.50 Bought @ 1092.50 = + $1,000.00
Bought @ 1086 Sold @ 1092 = + $1,500.00
TOTAL (P & L)    + $5,125.00       
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 03-25-04:  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 June contract -
1092 peak and 1092.40 intra-day channel (major area) / 1094.30 newly developed minor day channel and 1094.50 intra-day channel also 1094.80 and 1095.30 peaks (major area) / 1096.90 minor day channel and 1097.30 day top (very major area) / 1100 peak and 1100.30 day top (major area) / 1102 day top (major) / 1105.70 day channel without GBX prices (very major area) / 1107.30 day gap and 1107.40 GBX top (major area) / 1110.60 and 1113.20 minor day channels without GBX prices (major area) / 1118.30 peak and 1118.40 day channel with GBX prices (very major area) / 1122 day top and 1122.80 day gap (major area) / 1124.80 weekly top excluding GBX prices and 1125.20 day top (major area) /1127.20 GBX weekly top (major) / 1131.60 is the 50% retracement area (major area).
 
Support:  For the June contract -
1091.50 minor intra-day channel and 1089.50 base (major area) / 1086.20 intra-day channel and 1086 base also 1085.80 newly developed long-term day channel and 1085 day bottom (major area) / 1083.50 weekly bottom and 1083.40 minor monthly channel (very major area) / 1080.20 major weekly channel and 1080 day bottom (very major area) / 1075 day bottom (major) / 1067.50 weekly bottom and 1066 weekly bottom in the June contract (major area) / 1053 weekly and monthly bottom (very major area).
 
Comments:
    The whiplashing action continued into Wednesday's session stimulating rallies after prices approached near the 1083.40 major support area, which proved the significance of the area  As long as prices remain above the 1083.40 and 1080.20 support channels then higher prices can develop.  A failure below the 1083.30 and 1080.20 support areas can bring prices down to challenge the near the 1067.50 and 1053 major bottom area.  A trade today above the 1084.30 and 1086.90 channels can bring prices up to challenge the 1105.70 area and possibly near the 1110.60 and 1113.20 channels.  Only a trade above the 1118.40 channel can bring any solid bullishness back into the chart.  Remain defensive inside the 1194.30 - 1196.80 resistance and the 1185.80 - 1183.40 support areas.
   
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1094 - 1096.90 area for near 1092 - 1089.50 area.  (Use a buy stop and rev. long at 1098.50). 
 
Aggressive traders can buy dips near 1086 - 1083.40 area and if possible near 1080.20 for obj. near 1089.50 - 1092 area.  (Use a sell stop and rev. short at 1079).
 
Buy stop at 1098.50 for obj. near 1100 - 1102 area.
Buy stop at 1103.70 for obj. near 1105 - 1105.70 area.
Buy stop 1106.70 for obj. near for obj. near 1108 - 1110.60 area.
 
Sell stop at 1089 for obj. near 1086 - 1083.40 area.
Sell stop at 1079 for obj. near 1076 - 1075 area.
Sell stop at 1073 for obj. near 1069.50 - 1067.50 area.
Sell stop at 1064 for obj. near 1060 - 1058 area and possibly near 1053. 
 

* 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 03/25/04 (10:30 am est)

 
Short positions were taken on the opening at 1096.70.  The sell off down to 1093.80 is near enough to the 1092 obj. for traders to consider taking profits.  Buy the S & P at the market, which is trading at 1094.50 to complete this trade.

Bulletin - Originally sent 03/25/04 (11:22 am est)

 
The buy stop was hit at 1098.50, putting traders into long positions.  The market is showing signs of resistance and can possibly fail to meet the obj. at 1100.
 
It is recommended to exit long positions at the market, which is trading at 1097 and scratch the trade with a small loss.

Bulletin - Originally sent 03/25/04 (12:52 pm est)

 
The buy stop was hit at 1103.70 putting traders into long positions.  The rally up to 1104.80 is near enough to the 1105 obj. and completes the trade.

Bulletin - Originally sent 03/25/04 (2:06 pm est)

 
NOTE:  Due to the amount of resistance at the 1107 - 1110.60 area and the condition of the intra-day chart formation the buy stop at 1106.70 is being cancelled.

Results:    03/25/04

Sold @ 1096.70 Bought @ 1094.50   = + $   550.00           
Bought @ 1098.50 Sold @ 1097 = -  $   375.00     sold as per bulletin     
Bought @ 1103.70 Sold @ 1104.70 = + $   250.00
TOTAL (P & L)    +  $   425.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 03-26-04:  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 June contract -
1106 day channel and 1106 close (major area) / 1107.70 and 1108 day channels without GBX prices also 1109.20 day top and 1109.70 day channel with GBX prices (very major area) / 1113.50 peak (significant) / 1116.20 minor day channel without GBX prices (major area) / 1118.30 peak (major) / 1122 day top and 1122.80 day gap (major area) / 1124.80 weekly top excluding GBX prices and 1125.20 day top (major area) /1127.20 GBX weekly top (major) / 1131.60 is the 50% retracement area (major area) / 1137 peak and 1138.30 day session closing price (major area) / 1140.50 day top (major) / 1142.70 and 1143.80 peaks also 1144.80 day top (major area) / 1156.80 weekly closing price and 1157.30 long-term major weekly channel (very major area).
 
Support:  For the June contract -
1105.30 minor intra-day channel also 1104.30 and 1104 base area (major area) / 1103 base and 1102.60 minor day channel without GBX prices also 1102 base (major area) / 1099.50 to 1098.30 base area (major area) / 1096 base and 1095.80 minor day channel without GBX prices (very major area) / 1093.80 day bottom (major) / 1091.50 day gap and 1090.10 GBX bottom also 1089.50 base (major area) / 1086.60 long-term major day channel and 1085 day bottom (very major area) / 1083.40 minor monthly channel also 1082.50 minor down channel (very major area) / 1080.20 major weekly channel and 1080 day bottom (very major area) / 1075 day bottom (major) / 1067.50 weekly bottom and 1066 weekly bottom in the June contract (major area).
 
Comments:
    The rally on Thursday proved the significance of the base that developed over the few days from the major support areas at 1083.40 and 1080.20.  The support proved to be enough to stimulate substantial buying as mentioned and suspected it would.  The rally brought prices up near the major resistance areas, which can now stimulate some selling pressure for retracements to the downside.  A trade today above the 1107.70 and 1109.70 channels is slightly bullish buy only a trade above the 1116.20 channel can bring any bullishness back to the chart.  A trade today below the 1095.20 channel is slightly bearish but only a trade below the 1083.40 and 1080.20 major monthly and weekly channels can bring any solid bearishness back to the chart.  Remain defensive inside the first trading area between the 1107.70 and 1109.70 resistance and the 1105.30 and 1102.60 support areas. 
       
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1107 - 1109.70 area or buy dips near 1105.30 - 1102.60 area, whichever side comes first to complete the trade.  (Use a buy stop and rev. long at 1111.30).  (Use a sell stop and rev. short at 1101).
 
Aggressive traders can buy dips near 1096 - 1095.30 area for obj. near 1098 - 1099 area.  (Use a sell stop and rev. short at 1093).
 
Aggressive traders can buy dips near 1083.40 - 1080.20 area, if it gets there, for obj. near 1090 - 1092 area.  (Use a sell stop and rev. short at 1079).
 
Aggressive traders can sell rallies near 1115 - 1116.20 area for obj. near 1113.50 - 1111.50 area.  (Use a buy stop and rev. long at 1117.30).
 
Buy stop at 1111.30 for obj. near 1115 - 1116.20 area.
Buy stop at 1117.30 for obj. near 1118.30 - 1122 area.
 
Sell stop at 1101 for obj. near 1096 - 1095.30 area.
Sell stop at 1093 for obj. near 1091 - 1089.50 area and possibly near 1086.60 major channel. 
 

* 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 03/26/04 (9:54 am est)

 
Long positions were taken at 1105.30.  The rally up to 1107.70 meets the obj. and completes the trade.
 
Short positions were taken at 1107.70 for obj. near 1105.30.  (Continue to use a buy stop and rev. long at 1111.30).

Bulletin - Originally sent 03/26/04 (10:24 am est)

 
Short positions were taken at 1107.70 and 1109.70.  The sell-off down to 1106 is near enough to the 1105.30 obj. and completes the trade.

Bulletin - Originally sent 03/26/04 (1:27 pm est)

 
The buy stop at 111.30 was hit putting traders into long positions.  The market is showing signs of resistance at the 1112.80 area that can prevent the obj. of 1115 from being reached.
 
It is recommended for traders to exit the long position at the market, which is trading at 1111.50 at this time and scratch the trade.

Results:    03/26/04

Bought @ 1105.30 Sold @ 1107.70   = + $   600.00           
Sold @ 1107.70 Bought @ 1106 = + $   425.00          
Sold @ 1109.70 Bought @ 1106 = + $   925.00
Bought @ 1111.30 Sold @ 1111.50 = + $     50.00
TOTAL (P & L)    + $2,000.00

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.
ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.

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

 

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