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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 - 03/29/03 - 04/02/04
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 03-29-04:  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the June contract -
1108.20 and 1109 peaks also 1109.20 intra-day gap (major area) / 1111.40 day channel with GBX prices and 1112.40 day channel without GBX prices (major area) / 1114 day top also 1114 day channel with GBX prices (very 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) / 1149.50 minor weekly channel (major area) / 1155.30 long-term major weekly channel (very major area) / 1156.80 weekly closing price and 1158.70 weekly top (major area) / 1162.30 June contract's weekly top and 1163.50 weekly chart's top (very major area).
 
Support:  For the June contract -
1105.50 double base and 1104.50 day bottom also 1103 base (major area) / 1100.80 weekly rev. channel and 1100.30 minor day channel with GBX prices also 1099.50 base (very major area) / 1096 base (major) / 1093.80 day bottom (major area) / 1091.50 day gap (major) / 1090.50 newly developed long-term major weekly channel and 1090.10 GBX bottom (very major area) / 1088.90 major weekly channel and 1088.40 long-term major day channel also 1087.40 major day channel and 1087.10 minor weekly channel (very major area) / 1083.90 major weekly channel and 1083.40 monthly channel (very major area) / 1080 day bottom (major) / 1075.20 minor down channel and 1075 day bottom (major area) / 1067.50 weekly bottom and 1066 weekly bottom in the June contract (major area).
 
Comments:
    The whiplashing action and sell-off on Friday proved the significance of the resistance area leaving the chart in neutral condition between the 1114 - 1100.30 trading area.  A trade above the 1114 area is slightly bullish but only a trade above the 1124.80 - 1127.20 area can bring any significant bullishness back to the chart.  A trade below the 1100.80 - 1100.30 area is slightly bearish but only a trade below the 1090.50 - 1088.40 channels can bring any solid bearishness back to the chart.  A trade below the 1083.90 - 1083.40 area will confirm the downtrend intact for lower prices to follow.  Remain defensive inside the first trading area between 1111.40 - 1114 resistance and 1100.80 - 1100.30 support areas. 
       
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1111.40 - 1114 area for obj. near 1105.50 - 1103 area and possibly near 1100.80 - 1100.30 area.  (Use a buy stop and rev. long at 1117).
 
Aggressive traders can buy dips near 1101.50 - 1100.30 area and if possible near the 1099.50 area for obj. near 1104 - 1105.50 area and possibly near 1107.  (Use a sell stop and rev. short at 1097).
 
Buy stop at 1117 for obj. near 1119 - 1122.80 gap area.
Buy stop at 1128.20 for obj. near 1131 - 1133 area.
 
Sell stop at 1097 for obj. near 1095 - 1093.80 area and possibly near 1091.50 gap - 1090.50 area.
 
Aggressive traders can buy dips near 1083.90 - 1083.40 area for obj. near 1087 - 1090 area.  (Use a sell stop and rev. short at 1078). 
 
Sell stop at 1078 for obj. near 1076 - 1075 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 03/29/04 (9:52 am est)
 
Short positions were taken on the open at 1112.50.  The rally above the 1114 resistance put the chart slightly into bullish territory. 
 
It is recommended to exit the short position at the market, which is trading at 1114.50 at this time and cut looses.  The trade is now a high risk for the 1117 area to possible be hit.

Bulletin - Originally sent 03/29/04 (10:06 am est)

 
The buy stop at 1117 was hit putting trades into long positions.  The rally up to 1119 meets the obj. and completes the trade.

Results:    03/29/04

Sold @ 1112.50 Bought @ 1114.50   = -  $   500.00  
Bought @ 1117 Sold @ 1119 = + $   500.00     
TOTAL (P & L)       $     -0-
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 03-30-04:  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the June contract -
1121.20 Newly developed day channel and 1122.20 minor intra-day channel (major area) / 1122.50 peak and 1122.90 minor day channel with GBX prices (major area) / 1123.50 day top and 1124.80 weekly top also 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) / 1149.50 minor weekly channel (major area) / 1155.30 long-term major weekly channel (very major area) / 1156.80 weekly closing price and 1158.70 weekly top (major area) / 1162.30 June contract's weekly top and 1163.50 weekly chart's top (very major area).
 
Support:  For the June contract -
1120.50 and 1120.20 day channels also 1118.70 intra-day channel (major area) / 1117.50 base also 1116.30 intra-day gap (major area) / 1113.20 GBX channel and 1113 base also 1112.50 day bottom (major area) / 1106.10 weekly closing gap and 1105.50 GBX bottom also 1105.40 minor day channel and 1104.50 day bottom (very major area) / 1100.80 weekly rev. channel and 1099.50 base (very major area) / 1096 base (major) / 1093.80 day bottom (major) / 1091.50 day gap and 1090.50 long-term major weekly channel also 1090.10 GBX bottom and 1089.50 long-term major day channel (very major area) / 1088.90 major weekly channel and 1088.20 major day channel also 1087.10 minor weekly channel (very major area) / 1083.90 major weekly channel and 1083.40 monthly channel (very major area).
 
Comments:
    The rally on Monday brought prices up near last week's top, which can now be considered a technical double top and can prove to be significant enough to stimulate selling pressure for retracements to the downside.  A trade above the 1124.80 top and 1127.20 GBX weekly top can bring prices up to challenge the 1131.60, 50% retracement area, and possibly near the 1149.50 and 1155.30 major channels.  A trade today below the 1113.20 channel and 1112.50 bottom is slightly bearish but only a trade below 1106.10 - 1105.40 channel area can bring any significant bearishness back to the chart.  Remain defensive inside the first narrow trading range between 1122.90 and 1118.70 area and also between the 1127.20 and 1113.20 trading area. 
       
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1121.90 - 1122.90 area or buy dips near 1120.20 - 1118.70 area, whichever side comes first, to complete the trade.  (Use a protective buy stop at 1123.70.  Do not rev. long).  (Use a sell stop and rev short at 1115.90).
 
Aggressive traders can buy dips near 1113.50 - 1113.20 area for obj. near 1115.50 - 1117 area. (Use a sell stop and rev. short at 1111).
 
Buy stop at 1128.20 for obj. near 1131 - 1133 area.
Buy stop at 1134.70 for obj. near 1136.70 - 1138 area.
 
Sell stop at 1115.90 for obj. near 1113.50 - 1113.20 area.
Sell stop at 1111 for obj. near 1107.50 - 1105.40 area.
Sell stop at 1102.40 for obj. near 1100.80 - 1099.50 area.
 

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

 

Bulletin - Originally sent 03/30/04 (9:48 am est)
 
Long positions were taken at 1119.  The rally up to 1120.90 is near enough to the 1121.90 obj. and completes the trade.

Bulletin - Originally sent 03/30/04 (10:08 am est)

 
Short positions were taken on the rally at 1122.90.  The sell off down to 1120 meets the obj. and completes the trade.

Bulletin - Originally sent 03/30/04 (10:47 am est)

 
Long positions were taken again at 1120.  The rally up to 1122 meets the obj. and completes the trade.

Bulletin - Originally sent 03/30/04 (10:49 am est)

 
Short positions were taken again at 1122.  The obj. remains at 1120.  (Continue to use a protective buy stop at 1123.70.  Do not rev. long).

Bulletin - Originally sent 03/30/04 (12:03 pm est)

 
Short positions were taken at 1122 and 1122.90 the sell-off down to 1120 20 meets the obj. and completes the trades.

Bulletin - Originally sent 03/30/04 (12:52 pm est)

 
NOTE:  This information is for all new subscribers -
 
The first trade was repeated twice today.  All trades having "which ever side comes first" in the format can be repeated twice realizing the second time is a higher risk then the first.  When repeated for the third time it will be considered a very aggressive trade and a much higher risk trade.  The system will not post any trade for the third time.

Results:    03/30/04

Bought @ 1119 Sold @ 1120.90   = + $   475.00  
Sold @ 1122.90 Bought @ 1120 = + $   725.00
Bought @ 1120 Sold @ 1122 = + $   500.00
Sold @ 1122 Bought @ 1120.20 = + $   450.00
Sold @ 1122.90 Bought @ 1120.20 = + $   675.00     
TOTAL (P & L)    + $2,825.00     
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 03-31-04:  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 -
1126.70 day top and 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) / 1149.50 minor weekly channel (major area) / 1155.30 long-term major weekly channel (very major area) / 1156.80 weekly closing price and 1158.70 weekly top (major area) / 1162.30 June contract's weekly top and 1163.50 weekly chart's top (very major area).
 
Support:  For the June contract -
1125 and 1124.20 intra-day channels and 1124 base also 1123.90 minor day channel (major area) / 1122.70 minor day channel with GBX prices and 1122.50 intra-day channel (major area) / 1120.90 GBX channel also 1120.80 intra-day channel (very major area) / 1118.20 day bottom and 1117.60 GBX bottom (major area) / 1112.50 day bottom and 1110.50 minor day channel with GBX prices (very major area) / 1106.10 weekly closing gap and 1105.50 GBX bottom also 1104.50 day bottom (major area) / 1100.80 weekly rev. channel and 1099.50 base (very major area) / 1096 base (major) / 1093.80 day bottom (major) / 1091.50 day gap and 1090.60 long-term major day channel also 1090.50 long-term major weekly channel and 1090.10 GBX bottom (very major area) / 1089 major day channel and 1088.90 major weekly channel also 1087.10 minor weekly channel (very major area) / 1083.90 major weekly channel and 1083.40 monthly channel (very major area).
 
Comments:
    The rally on Tuesday managed to close the session up for the fifth day in a row and also closing above the 1124.80 weekly top, which leaves the chart in neutral to bullish condition.  It now faces resistance at the 1127.20 GBX top and the 1131.60 area, which is the major 50% retracement.  A trade above these areas can bring prices up to challenge the 1140.50 - 1144.80 top areas and possibly near the 1149.50 and 1155.30 major channels.  A trade today below the 1120.90 - 1120.80 area is slightly bearish but only a trade below 1112.50 and 1110.50 areas can bring any solid bearishness back to the chart.  Remain defensive inside the first trading area between the 1126.70 - 1127.20 resistance and 1122.70 - 1120.80 support areas. 
       
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1126 - 1127.20 area or buy dips near 1122.70 - 1120.80 area, whichever side comes first, to complete the trade.  (Use a buy stop and rev. long at 1128.70).  (Use a sell stop and rev short at 1115.90).
 
Aggressive traders can buy dips near 1112.50 - 1110.50 area for obj. near 1115 - 1116 area. (Use a sell stop and rev. short at 1108).
 
Buy stop at 1128.70 for obj. near 1130.50 - 1131.60 area.
Buy stop at 1134.70 for obj. near 1136.70 - 1138 area.
 
Sell stop at 1115.90 for obj. near 1113.50 - 1112.50 area and possibly near 1110.50.
Sell stop at 1108 for obj. near 1106.10 gap and possibly near 1105.50 - 1104.50 area.
Sell stop at 1102.40 for obj. near 1100.80 - 1099.50 area.
 

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

Bulletin - Originally sent 03/31/04 (9:23 am est)

 
Due to the fact that the GBX session hit a high at 1128.90 the buy stop at 1128.70 in the first trade will be cancelled.  The new buy stop and rev. long will be placed at 1129.30. 

Bulletin - Originally sent 03/31/04 (9:46 am est)

 
Short positions were taken on the open at 1126.  The sell-off down to 1122,70 meets the obj. and completes the trade.

Bulletin - Originally sent 03/31/04 (10:01 am est)

 
Long positions were taken at 1122.70.  The rally up to 1125.30 was near enough to the 1126 obj. and completes the trade.

Bulletin - Originally sent 03/31/04 (10:07 am est)

 
Long positions were taken at the low end of the buy area at 1120.80.  The obj. is 1124 - 1126 area.  (Continue to use a sell stop and rev. short at 1115.90).

Bulletin - Originally sent 03/31/04 (10:58 am est)

 
Long positions were taken at 1120.80.  The rally up to 1123.80 is near enough to the 1124 obj. and completes the trade.
 
The first trade has been repeated for the second time on both ends of the buy and sell area.  These trades will not be repeated.

Bulletin - Originally sent 03/31/04 (3:06 pm est)

 
The buy stop was hit at 1129.30 putting traders into long positions.  The market is showing signs of resistance at this area that could prevent the obj. from being hit.
 
It is recommended for traders to exit the long position at the market, which is trading at 1128 at this time, and cut losses.

Results:    03/31/04

Sold @ 1126 Bought @ 1122.70   = + $   825.00  
Bought @ 1122.70 Sold @ 1125 = + $   575.00
Sold @ 1125 Bought @ 1120.80 = + $1,050.00
Bought @ 1120.80 Sold @ 1123.80 = + $   750.00
Bought @ 1129.30 Sold @ 1128 = -  $   325.00     
TOTAL (P & L)    + $2,875.00     
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 04-01-04:  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 June contract -
1127.80, 1128.70 and 1128.90 are all newly developed day channels and 1129.60 day top (major area) / 1131.60 is the 50% retracement area and 1132.50 major upper channel (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) / 1149.50 minor weekly channel (major area) / 1155.30 long-term major weekly channel (very major area) / 1156.80 weekly closing price and 1158.70 weekly top (major area) / 1162.30 June contract's weekly top and 1163.50 weekly chart's top (very major area).
 
Support:  For the June contract -
1124 intra-day channel and 1124 base also 1123.70 minor day channel (major area) / 1122.80 intra-day channel and 1122.40 minor day channel also 1122 base and 1121.80 minor day channel (major area) / 1120 day bottom (major) / 1118.20 day bottom and 1117.60 GBX bottom (major area) / 1115.60 minor day channel with GBX prices and 1115 base (very major area) / 1112.50 day bottom (major) / 1109.70 long-term major monthly channel (very major area) / 1106.10 weekly closing gap and 1105.50 GBX bottom also 1104.50 day bottom (major area) / 1103.20 and 1103.10 monthly channels also 1101.30 minor monthly channel (very major area) / 1100.80 weekly rev. channel and 1099.50 base (very major area) / 1096 base and 1095.60 minor monthly channel (very major area) / 1093.80 day bottom (major) / 1091.50 day gap and 1091.70 long-term major day channel also 1090.50 long-term major weekly channel and 1090.10 GBX bottom (very major area) / 1089.80 major day channel and 1088.90 major weekly channel also 1087.10 minor weekly channel (very major area) / 1083.90 major weekly channel (very major area).
 
Comments:
    The whiplashing action continued on Wednesday closing down for the day and leaving the chart neutral inside the trading range between 1132.50 and 1115.60.  A trade above 1132.50 is bullish and can bring prices up to challenge the 1138.30 - 1140.50 area and possibly near the 1149.50 and 1155.30 major channels.  A trade below 1115.60 is bearish but only a trade below the 1109.70 and 1103.20 newly developed monthly channels, that will remain for this month, can bring any solid bearishness back to the chart.  Remain defensive inside the first trading range between the 1127.80 - 1128.90 resistance and 1124 - 1121.80 support areas. 
       
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1127.50 - 1128.90 area and if possible near 1132.50 area or buy dips near 1125 - 1122.50 area and if possible near 1121.80, whichever side comes first, to complete the trade.  (Use a buy stop and rev. long at 1134.70).  (Use a sell stop and rev short at 1121).
 
Aggressive traders can buy dips near 1115.60 - 1115 area for obj. near 1117.50 - 1120 area. (Use a sell stop and rev. short at 1113.80).
 
Buy stop at 1134.70 for obj. near 1136.70 - 1138.30 area.
Buy stop at 1145.70 for obj. near 1148 - 1149.50 area.
Buy stop at 1151 for obj near 1153 - 1155.30 area. 
 
Sell stop at 1121 for obj. near 1117 - 1115.60 area.
Sell stop at 1113.80 for obj. near 1111 - 1109.70 area.
Sell stop at 1107.70 for obj. near 1106.10 - 1104.70 area and possibly near 1103.20 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 04/01/04 (9:32 am est)

 
The rally up to 1127.30 is near enough to the 1127.50 sell area, putting traders into short positions.  The obj. still remains near 1125 - 1122.50 area.

Bulletin - Originally sent 04/01/04 (10:24 am est)

 
The rally up to 1132.30 is the high end of the sell area, where an additional short position is now added.  (Continue to use a buy stop and rev. long at 1134.70).

Bulletin - Originally sent 04/01/04 (11:14 am est)

 
The buy stop was hit at 1134.70 putting traders into long positions.  The market is showing signs of resistance at this area that can now stimulate some selling.
 
It is recommended to exit the long position at the market, which is trading at 1133.20 at this time and rev. short again.  (Use a buy stop and rev. long at 1135.70 for obj. near 1137 - 1138 area).

Bulletin - Originally sent 04/01/04 (1:00 pm est)

 
The two Short positions were re-entered at 1133.20.  The sell-off down to 1128.50 is showing signs of support that can prevent the  1125 obj. from being reached.
 
It is recommended to exit the short positions at the market and buy at the market, which is trading at 1129.50 at this time and complete the  trade.

Results:    04/01/04

Sold @ 1127.30 Bought @ 1134.70   = -  $1,850.00  
Sold @ 1132.30 Bought @ 1134.70 = -  $   600.00
Bought @ 1134.70 Sold @ 1133.20 = -  $   375.00
Sold @ 1133.20 Bought @ 1129.50 = + $   925.00
Sold @ 1133.20 Bought @ 1129.50 = + $   925.00     
TOTAL (P & L)    -  $   975.00     
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 04-02-04:  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 June contract -
1133.40 and 1134.40 newly developed day channels also 1134.80 day top and the 1131.60 area is still considered the 50% retracement and neutral area (major area) / 1137 peak and 1138.30 day session closing price also 1138.60 upper channel (major area) / 1140.50 day top (major) / 1142.70 and 1143.80 peaks also 1144.80 day top (major area) / 1149.50 minor weekly channel (major area) / 1155.30 long-term major weekly channel (very major area) / 1156.80 weekly closing price and 1158.70 weekly top (major area) / 1162.30 June contract's weekly top and 1163.50 weekly chart's top (very major area).
 
Support:  For the June contract -
1133 minor day channel and 1132 intra-day channel (major area) / 1129.70 base and 1129.50 GBX channel (major area) / 1128.10 and 1127.50 double base area also 1127 minor day channel with GBX prices also 1126.50 day bottom (very major area) / 1124.90 day gap and 1124.80 minor day channel also 1123.60 minor day channel and 1123.50 GBX bottom (major area) / 1120.70 day channel with GBX prices and 1120 day bottom (very major area) / 1118.20 day bottom and 1117.60 GBX bottom (major area) / 1112.50 day bottom (major) / 1109.70 long-term major monthly channel (very major area) / 1106.10 weekly closing gap and 1105.50 GBX bottom also 1104.50 day bottom (major area) / 1103.20 and 1103.10 monthly channels also 1101.30 minor monthly channel (very major area) / 1100.80 weekly rev. channel and 1099.50 base (major area) / 1096 base and 1095.60 minor monthly channel (very major area).
 
Comments:
    The whiplashing action continued on Thursday proving the neutral condition but managed to trade and close higher leaving the chart neutral to slightly bullish inside the 50% retracement area.  A trade above today's high can bring prices up to challenge the 1137 - 1138.60 area and possibly show enough strength to reach near the 1149.50 and 1155.30 major channels.  A trade today below the 1127 channel is slightly bearish but a trade below the 1123.60 channel and 1120.70 channel is bearish for prices to challenge the 1109.70 and 1103.20 major monthly channel.  At this time only, a trade below the 1109.70 and 1103.20 area can bring any solid bearishness back to the chart.  Remain defensive inside the first trading area between 1134.40 and 1127 and also between the 1138.60 and 1120.70 wide trading range.
           
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1133.40 - 1134.40 area or buy dips near 1130 - 1127 area, whichever side comes first to complete the trade.  (Use a buy stop and rev. long at 1135.80).  (Use a sell stop and rev. short at 1126.20).
 
Aggressive traders can sell rallies near 1148 - 1149.50 area for obj. near 1145.50 - 1144.50 area and possibly near 1140.50.  (Use a buy stop and rev. long at 1151).
 
Buy stop at 1135.80 for obj. near 1137 - 1138.60 area.
Buy stop at 1145.70 for obj. near 1148 - 1149.50 area.
Buy stop at 1151 for obj. near 1153 - 1155.30 area.
 
Sell stop at 1126.20 for obj. near 1124.80 - 1123.50 area and possibly near 1120.70.
Sell stop at 1117 for obj. near 1112.50 bottom and possibly near 1109.70 major monthly 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 04/02/04 (12:43 pm est)

 
The market has developed a new trading range between 1144.80 day top and 1135.  It was a sell at the 1140.50 - 1144.80 top areas and a buy at the 1135 area. 
 
Because of the volatility of all the market conditions today, Only the phone consultation customers received this new trading information.  These trades will not be posted in the results but traders should realize when a market opens above or below the main trading range they can call the Tech Guru at (540)843-4878 for new trading information.  The cost is only $1.33 per minute but look at the advantage you can have knowing this change of information.  Don't hesitate calling.  Information is always to your advantage.

Bulletin - Originally sent 04/02/04 (12:50 pm est)

 
The technical formation is now considering the 1145.70 a technical double top to this morning high and therefore will be cancelled at this time. 
 
It is still considered a sell at the 1148 - 1149.59 area.  Very aggressive traders can sell at the 1140.50 - 1144.80 area but must continue to use a buy stop and rev. long at 1151.  The obj.  is at 1135 - 1132 area.

Bulletin - Originally sent 04/02/04 (1:35 pm est)

 
Short positions were taken at 1140.50 and at the double top at 1142.20.  The sell-off down to 1138.50 seems good enough to consider taking profits and complete the trade.

Bulletin - Originally sent 04/02/04 (2:10 pm est)

 
The rally up to 1140.50 put traders into short positions again.  The sell-off down to 1138.80 is worthy of taking profits and complete the trade.
 
This trade is completed twice and will not be repeated.

Bulletin - Originally sent 04/02/04 (4:30 pm est)

 
The sell area at 1140.50 - 1144.80 was completed twice today.  The sell-off down to 1135.50 is today's new buying area as indicated in the previous bulletin and surprisingly came into play again putting traders into long positions.  The rally up to 1140.50 meets the obj. and completes the trade.
 
As noted in our bulletin from last week -  The Tech Guru will be out of the office for next week from April 5 to April 9, 2004.  There will be no S & P Daily Report until April 12, 2004.  Have a great week and good luck in trading.

Roger Knizewski (T.G.)

Results:    04/02/04

Sold @ 1140.50 Bought @ 1138.50  = + $   500.00     sold as per bulletin / bought as per bulletin  
Sold @ 1142.20 Bought @ 1138.50 = + $   925.00     sold as per bulletin / bought as per bulletin
Sold @ 1140.50 Bought @ 1138.80 = + $   425.00     sold and bought as per bulletin
Bought @ 1135.50 Sold @ 1140.50 = + $1,250.00     
TOTAL (P & L)    + $3,100.00
The week in review - 04/05/04 - 04/09/04
The Tech Guru's S & P Day Trading Recommendations

HOLIDAY SCHEDULE: 

The Tech Guru will not issue the S & P Daily report or any bulletins for the week of April 5 - April 9.  We will be taking this extra time off for the Easter Holiday for a family reunion.  The markets are closed April 9 for Good Friday.  We wish you all a good holiday.  

All S & P subscriptions paid in advance will be extended accordingly for an extra 5 day's. 

Thank you,

Tech Guru

The week in review - 04/12/04 - 04/16/04
The Tech Guru's S & P Day Trading Recommendations

To All Subscribers: 

Unfortunately, I got very sick early in the week with bronchitis and almost pneumonia.  We didn't get to go away as planned to visit with our family.  I am still not completely better, but on the road to recovering.  

I have decided to take an additional week off from writing the S & P Daily Report to regain my strength.  Thank you for your patience.  

All S & P subscriptions paid in advance will be extended accordingly for an extra 5 day's.  

Best Regards,

Tech Guru

The week in review - 04/19/04 - 04/23/04
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 04-19-04:  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 -
1134.70 and 1135 peaks also 1135.70 day top (major area) / 1139.30 and 1140.50 peaks (major area) / 1146 newly developed weekly channel without GBX prices 1146.50 and 1146.90 day channel without GBX prices also 1147.80 weekly channel with GBX prices (very major area) / 1148.20 day channel with GBX prices and 1148.50 weekly top without GBX prices also 1149.10 long-term major weekly channel and 1150 weekly double top with GBX prices (very major area) / 1154.50 and 1154.70 long-term major monthly channels (very major area) / 1158.70 weekly top (major area) / 1162.20 June contract's weekly top and 1162.90 monthly channel also 1163.50 weekly chart's top (very major area) / 1167.80 and 1168.30 minor monthly upper channels (major area) .
 
Support:  For the June contract -
1131.20 minor day channel and 1130.60 weekly channel (very major area) / 1126.10 minor weekly channel with GBX prices and 1125.20 minor day channel with GBX prices and day bottom (major area) / 1123.50 major day channel and 1122.20 GBX bottom (very major area) / 1119.20 weekly bottom and 1117.60 GBX bottom (major area) / 1112.50 weekly bottom (major area) / 1109.70 long-term major monthly channel (very major area) / 1106.90 long-term major weekly channel also 1106.10 weekly gap and 1105.50 GBX bottom (very major area) / 1103.20 and 1101.30 monthly channels (major area) / 1100.50 minor weekly channel (major area) / 1095.70 minor monthly channel and 1094.90 minor weekly channel also 1093.80 day bottom (very major area) / 1091.50 day gap and 1090.10 GBX bottom (major area) / 1087.70 GBX weekly bottom and 1085 major weekly bottom (very major area).
 
Comments:
    The rally on Friday removed some of the bearishness from the chart but the weekly closing price still managed to close down for the second weekly in a row leaving the chart in neutral to slightly bearish condition.  Only a trade above the 1149.10 major weekly channel can bring any bullishness back to the chart.  Also a trade above 1154.70 monthly channel will be considered a breakout for higher prices to follow.  A trade below 1130.60 and 1126.10 are bearish but only a trade below the 1109.70 monthly channel and 1106.90 weekly channel will confirm the major trend to the downside for lower prices to follow.  Remain defensive inside the first trading range between 1135.70 and 1130.60.  Also the next major trading range between 1146.50 - 1149.10 resistance and 1126.10 - 1123.50 support.  The monthly trading range for April will remain between 1154.70 and 1109.70 until either side is broken.
               
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1135.70 - 1139 area or buy dips near 1131.20 - 1130.60 area, whichever side comes first, to complete the trade.  (Use a buy stop and rev. long at 1141.30).  (Use a sell stop and rev. short at 1129.30).
 
Aggressive traders can sell rallies near 1146 - 1149 area for obj. near 1140 - 1137 area.  (Use a protective buy stop at 1153.  Do not rev. long).  (Very aggressive traders can use a buy stop and rev. long at 1155.70).
 
Buy stop at 1141.30 for obj. near 1144.30 - 1146 area and possibly near 1149.10.
Buy stop at 1155.70 for obj. near 1157.70 - 1158.70 area and possibly near 1162.30 weekly top.
 
Sell stop at 1129.30 for obj. near 1127 - 1126.10 area and possibly near 1125.20.
Sell stop at 1121.70 for obj. near 1119.20 - 1118.20 bottom area and possibly near 1117.60.
Sell stop at 1116 for obj. near 1112.50 - 1109.70 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 04/19/04 (10:04 am est) 

The sell-off down to 1131 put traders into long positions.  The market failed to hold above the 1130.60 support putting the chart into bearish condition. 

It is recommended to exit the long position at the market, which is trading at 1131 at this time and cut losses.

Bulletin - Originally sent 04/19/04 (11:18 am est) 

The sell stop at 1129.30 was hit, putting traders into short positions.  The market only reached 1128.20 and did not meet the obj. at 1127 - 1126.10 area.  The neutral conditions are now putting uncertainty in the direction even though the neutral to bearish conditions remain on the weekly chart.  

It is recommended to exit the short position taken at 1129.30 and exit at the market, which is trading at 1130 at this time, and cut losses and scratch the trade.

Results:    04/19/04

Bought @ 1131 Sold @ 1131   =    $     -0- 
Sold @ 1129.30 Bought @ 1130 = -  $   175.00
Sold @ 1135 Bought @ 1133.70 = + $   325.00     
TOTAL (P & L)    + $   150.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 04-20-04:  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the June contract -
1134.70 minor day channel also 1135.20 and 1135.70 day tops (major area) / 1139.30 and 1140.50 peaks (major area) / 1145.90 day channel without GBX prices and 1146 weekly channel without GBX prices (very major area) / 1147.70 day channel with GBX prices and 1147.80 weekly channel with GBX prices also 1148.50 weekly top without GBX prices and 1149.10 long-term major weekly channel and 1150 weekly double top with GBX prices (very major area) / 1154.50 and 1154.70 long-term major monthly channels (very major area) / 1158.70 weekly top (major area) / 1162.20 June contract's weekly top and 1162.90 monthly channel also 1163.50 weekly chart's top (very major area) / 1167.80 and 1168.30 minor monthly upper channels (major area).
 
Support:  For the June contract -
1130.50 intra-day channel and 1130 base (major area) / 1128.20 minor day channel with GBX prices and 1128.20 day bottom (major area) / 1126.10 minor weekly channel with GBX prices and 1125.60 major day channel also 1125.20 day bottom (very major area) / 1122.20 GBX bottom (major) / 1119.20 weekly bottom and 1117.60 GBX bottom (major area) / 1112.50 weekly bottom (major area) / 1109.70 long-term major monthly channel (very major area) / 1106.90 long-term major weekly channel also 1106.10 weekly gap and 1105.50 GBX bottom (very major area) / 1103.20 and 1101.30 monthly channels (major area) / 1100.50 minor weekly channel (major area) / 1095.70 minor monthly channel and 1094.90 minor weekly channel also 1093.80 day bottom (very major area) / 1091.50 day gap and 1090.10 GBX bottom (major area) / 1087.70 GBX weekly bottom and 1085 major weekly bottom (very major area).
 
Comments:
    The whiplashing action on Monday remained inside a narrow range leaving the chart neutral inside the first trading range between the 1134.70 - 1135.70 resistance and 1128.20 - 1126.10 support areas.  NOTE:  Only a trade above 1146 - 1149.10 area can bring any significant bullishness back to the chart.  Only a trade below 1109.70 can bring any significant bearishness to the chart.  Remain defensive inside the first trading area between 1134.70 and 1128.20 area.  Also be defensive at the 1149.10 and 1154.70 major resistance, which is still considered a sell and at the 1109.70 and 1100.50 major support areas, which is still considered a buy.
                   
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1134 - 1135 area or buy dips near 1129 - 1126.10 area, whichever side comes first to complete the trade.  (Use a buy stop and rev. long at 1136.70).  (Use a sell stop and rev. short at 1124.70).
 
Buy stop at 1136.70 for obj. near 1139 - 1140 area.
Buy stop at 1141.30 for obj. near 1144.30 - 1146 area.
Buy stop at 1151.50 for obj. near 1153.50 - 1154.50 area.
 
Sell stop at 1124.70 for obj. near 1122.20 - 1119.20 area.
Sell stop at 1116 for obj. near 1112.50 - 1109.70 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 04/20/04 (10:51 am est) 

 
Long positions were taken on the opening with the buy stop at 1136.70.  The rally up to 1138.50 is near enough to the 1139 obj. and completes the trade.

Bulletin - Originally sent 04/20/04 (3:17 pm est) 

 
The sell-off down to the low end of the buy area at 1126.20 put traders into long positions.  The obj. is to exit near 1130 - 1131 area.  Continue to use a sell stop and rev. short at 1124.70.

Bulletin - Originally sent 04/20/04 (3:23 pm est) 

 
Long positions were taken at 1126.40.  The rally up to 1129.70 is near enough to the 1130 obj. and completes the trade.

Bulletin - Originally sent 04/20/04 (3:56 pm est) 

 
The sell stop was hit at 1124.70 putting traders into short positions.  The sell-off down to 1120 meets the obj. and completes the trade.

Bulletin - Originally sent 04/20/04 (4:20 pm est) 

 
Sell stop at 1116 was hit putting traders into short positions.  The market closed at 1114.80 before the obj. at 1112.50 was hit completing the trade with a 1.2 profit.

Results:    04/20/04

Bought @ 1136.70 Sold @ 1138.30   = + $   400.00  
Bought @ 1126.40 Sold @ 1129.50 = + $   775.00     bought as per buy area / sold as per bulletin
Sold @ 1124.70 Bought @ 1120 = + $1,175.00
Sold @ 1116 Bought @ 1114.80 = + $   300.00     
TOTAL (P & L)    +  $2,650.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 04-21-04:  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the June contract -
1116.50 intra-day channel and 1116.60 intra-day gap (major area) / 1119.20 peak (major) / 1121.20 peak and 1122.50 intra-day channel (very major area) / 1124.20 peak (major area) / 1129.70 peak (major area) / 1132.10 intra-day channel (major area) / 1134.70 and 1135 congestion peak area also 1136.10 day channel with GBX prices (very major area) / 1138.40 day top also 1139.30 and 1140.50 peaks (major area) / 1145.40 day channel without GBX prices and 1146 weekly channel without GBX prices (very major area) / 1147.30 day channel with GBX prices and 1147.80 weekly channel with GBX prices also 1148.50 weekly top without GBX prices and 1149.10 long-term major weekly channel and 1150 weekly double top (very major area).
 
Support:  For the June contract -
1113.50 day bottom and 1112.50 weekly bottom (major area) / 1109.70 long-term major monthly channel (very major area) / 1106.80 long-term major weekly channel also 1106.10 weekly gap and 1105.50 GBX bottom (very major area) / 1103.20 and 1101.30 monthly channels (major area) / 1100.90 long-term major day channel and 1100.50 minor weekly channel (very major area) / 1095.70 minor monthly channel and 1094.90 minor weekly channel also 1093.80 day bottom (very major area) / 1091.50 day gap and 1090.10 GBX bottom (major area) / 1087.70 GBX weekly bottom and 1085 major weekly bottom (very major area).
 
Comments:
    The sell-off on Tuesday brought prices down near the 1109.70 major monthly channel, which can prove to be significant enough support to stimulate rallies.  A trade below the 1109.70 and 1106.90 support areas can prove to be the first signal for the major downtrend to begin.  A trade below 1100.50 will confirm the major downtrend intact for lower prices to follow.  A trade today above 1122.50 is slightly bullish but only a trade above 1136.10 can bring any solid bullishness back to the chart.  Remain defensive inside the first trading range between 1116.60 - 1109.70 area and also between the 1122.50 and 1106.90 area.
                       
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1116 - 1119 area and if possible near 1122 for obj. near 1110.50 - 1109.70 area and possibly near 1106.90.  (Use a protective buy stop at 1124.70.  Do not rev. long).
 
Aggressive traders can attempt long positions near 1109.70 - 1106.90 area for obj. near 1113 - 1114 area.  (Use a sell stop and rev. short at 1105.20).
 
Aggressive traders can attempt long positions near 1100.90 - 1100.50 area for obj. near 1104 - 1106 area.  (Use a sell stop and rev. short at 1099).
 
Sell stop at 1105.20 for obj. near 1103.20 - 1101.30 area and possibly near 1100.90 area.
Sell stop at 1099 for obj. near 1096 - 1095.70 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 04/21/04 (10:11 am est) 

 
Short positions were taken on the open at 1117.30.  The rally up to 1121.20 put traders into an additional long position.  The technical formation at this time is showing signs of support. 
 
It is recommended for Short positions to exit at the 1117 area and take profits on the 1121 short position and scratching the 1117.30.

Bulletin - Originally sent 04/21/04 (10:51 am est) 

 
Short positions were taken on the opening at 1117.30 and additional short positions were added at 1121 and 1122 area.  The sell off down to 1118.10 is near enough to the 1117 obj. and completes the trade, scratching the first short position and taking profits on the other two.

Results:    04/21/04

Sold @ 1117.30 Bought @ 1118   = -  $   175.00     
Sold @ 1121 Bought @ 1118 = + $   750.00
Sold @ 1122 Bought @ 1118 = + $1,000.00     
TOTAL (P & L)    + $1,575.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 04-22-04:  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 -
1124.70 day top (major) / 1126.70 intra-day channel and 1127.20 peak also 1129.70 peak (major area) / 1133.80 day channel with GBX prices and 1134.10 weekly closing price also 1134.50 and 1135 congestion peak area (very major area) / 1138.40 day top also 1139.30 and 1140.50 peaks (major area) / 1144.90 day channel and 1146 weekly channel without GBX prices (very major area) / 1146.80 day channel and 1147.80 weekly channel (major area) / 1148.50 weekly top and 1149.10 long-term major weekly channel and 1150 weekly double top (very major area) / 1154.50 and 1154.70 long-term major monthly channels (very major area) / 1158.70 weekly top (major area) / 1162.20 June contract's weekly top and 1162.90 monthly channel also 1163.50 weekly chart's top (very major area) / 1167.80 and 1168.30 minor monthly upper channels (major area). 
 
Support:  For the June contract -
1121.50, 1120.10 and 1119.20 base (major area) / 1115.70 newly developed day channel (major area) / 1114.30 day bottom also 1113.50 and 1112.50 day bottoms (major area) / 1109.70 long-term major monthly channel (very major area) / 1106.80 long-term major weekly channel also 1106.10 weekly gap and 1105.50 GBX bottom (very major area) / 1103.20 and 1101.30 monthly channels also 1101.60 long-term major day channel and 1100.50 minor weekly channel (very major area) / 1095.70 minor monthly channel and 1094.90 minor weekly channel also 1093.80 day bottom (very major area) / 1091.50 day gap and 1090.10 GBX bottom (major area) / 1087.70 GBX weekly bottom and 1085 major weekly bottom (very major area).
 
Comments:
    The rally on Wednesday from the support area proved to stimulate rallies as expected leaving the chart neutral between a wide trading area between 1133.80 and 1109.70.  The first neutral trading area between 1126.70 and 1115.70 is also significant , which can stimulate whiplashing to both sides until a direction can be established.  1109.70 and 1106.90 are very major support areas and should still be considered a buying area.  A trade below 1100.50 will confirm the downtrend intact for lower prices.  1146 and 1149.10 are very major resistance areas and should still be considered a selling area.  A  trade above 1154.70 will confirm the uptrend intact for higher prices.  Remain defensive inside the two trading areas until a breakout can develop to either side.   
                           
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1125 - 1126.70 area for obj. near 1121.50 - 1119.20 area.  (Use a buy stop and rev. long at 1129.70).
 
Aggressive traders can buy dips near 1116.50 - 1115.70 area for obj. near 1118.50 - 1119.50 area.  (Use a sell stop and rev. short at 1112).
 
Buy stop at 1129.70 for obj. near 1131.70 - 1133.80 area.
Buy stop at 1141.30 for obj. near 1144 - 1146 area and possibly near 1149.10.
 
Sell stop at 1112 for obj. near 1110.50 - 1109.70 area.
Sell stop at 1105.20 for obj. near 1103.20 - 1101.30 area.
Sell stop at 1099 for obj. near 1096.50 - 1095.70 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 04/22/04 (10:52 am est) 

 
Short positions were taken at 1124.  The sell off down to 1121.50 meets the obj. and completes the trade. 
 
The rally up to 1125 put traders into short positions again.  The obj. for this repeated trade remains at 1121.50 - 1119.20 area.   (Continue to use a buy stop and rev. long at 1129.70).

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

 
The buy stop at 1129.70 was hit putting traders into long positions.  The rally up to 1133 meets the obj. and completes the trade. 
 
The 1133.80 resistance is significant enough for traders to consider short positions.  Aggressive traders can sell at the market, which is trading at 1133 at this time, for an obj. near 1127 - 1125 area.  (Use a protective buy stop at 1136.  Do not rev. long). 

Bulletin - Originally sent 04/22/04 (2:41 pm est) 

 
The buy stop was hit at 1141.30 putting traders into long positions.  The 1142 is showing signs of resistance at this time that can prevent the 1144 obj. from being reached.
 
It is recommended to exit the long position at the market, which is trading at 1140.50 and cut losses.

Results:    04/22/04

Sold @ 1124 Bought @ 1121.50   = + $   625.00  
Sold @ 1125 Bought @ 1129.70 = -  $1,175.00
Bought @ 1129.70 Sold @ 1133 = + $   825.00
Sold @ 1133 Bought @ 1136 = -  $   750.00     sold as per bulletin
Bought @ 1141.30 Sold @ 1140.50 = -  $   200.00     sold as per bulletin     
TOTAL (P & L)    -  $   675.00     
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 04-23-04:  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 -
1140 intra-day channel and 1140.70 peak also 1140.90 day channel with GBX prices (major area) / 1141.40 and 1141.80 peaks also 1142 day top (major area) / 1144.50 day channel (major) / 1146.40 day channel with GBX prices and 1147.80 weekly channel (very major area) / 1148.50 weekly top and 1149.10 long-term major weekly channel and 1150 weekly double top (very major area) / 1154.50 and 1154.70 long-term major monthly channels (very major area) / 1158.70 weekly top (major area) / 1162.20 June contract's weekly top and 1162.90 monthly channel also 1163.50 weekly chart's top (very major area) / 1167.80 and 1168.30 minor monthly upper channels (major area) / 1174.40 daily upper channel (major area). 
 
Support:  For the June contract -
1135 and 1133 base (major area) / 1128 base (major) / 1126.60 intra-day channel and 1125.10 minor day channel (very major area) / 1119.70 day bottom and 1117.20 day channel (very major area) / 1114.30 day bottom also 1113.50 and 1112.50 day bottoms (major area) / 1109.70 long-term major monthly channel (very major area) / 1106.80 long-term major weekly channel also 1106.10 weekly gap and 1105.50 GBX bottom (very major area) / 1103.20 and 1101.30 monthly channels also 1102.50 long-term major day channel and 1100.50 minor weekly channel (very major area) / 1095.70 minor monthly channel and 1094.90 minor weekly channel also 1093.80 day bottom (very major area) / 1091.50 day gap and 1090.10 GBX bottom (major area) / 1087.70 GBX weekly bottom and 1085 major weekly bottom (very major area).
 
Comments:
    The rally on Thursday proved the significance of the support and managed to bring prices up to face the major resistances between 1144.50 and 1149.10 area.  A trade above 1149.10 will put the uptrend back into play.  A trade above 1154.70 will be considered a breakout, confirming the uptrend intact for higher prices.  A trade today below 1125.10 is slightly bearish but only a trade below 1117.20 can bring any solid bearishness back to the chart.  A trade and close on Friday below 1109.70 will confirm a downtrend back into play.  Remain defensive inside the first trading area between the 1140 - 1140.90 resistance and 1135 - 1133 support, and also between the major trading area between the 1144.50 - 1146.40 resistance and 1126.60 - 1125.10 support.   
                           
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1140 - 1140.90 area or buy dips near 1135 - 1133 area, whichever side comes first, to complete the trade.  (Use a buy stop and rev. long at 1142.70).  (Use a sell stop and rev. short at 1132.30).
 
Aggressive traders can sell rallies near 1144 - 1146 area and if possible near 1149.10 for obj. near 1144 - 1146 area and if possible near 1149.10 for obj. near 1140 - 1138.50 area.  (Use a buy stop and rev. long at 1151).
 
Aggressive traders can buy dips near 1127 - 1125.10 area for obj. near 1130 - 1132 area.  (Use a sell stop and rev. short at 1123.70).
 
Buy stop at 1142.70 for obj. near 1144 - 1146 area and possibly near 1149.10.
Buy stop at 1151 for obj. near 1153.50 - 1154.50 area.
Buy stop at 1155.70 for obj. near 1157.70 - 1158.70 area.
 
Sell stop at 1132.30 for obj. near 1128 - 1126.60 area and possibly near 1125.10.
Sell stop at 1123.70 for obj. near 1121.50 - 1119.50 area and possibly near 1117.20.
Sell stop at 1115.20 for obj. near 1112.50 - 1109.70 and possibly  near 1106.10 gap.
 

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

Bulletin - Originally sent 04/23/04 (9:55 am est) 

 
The rally up to 1139.50 was near enough to the 1140 sell area putting traders into short positions.  The sell-off down to 1135 meets the obj. and completes the trade.

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

 
NOTE:  There was a misprint showing a low in the S & P at 1135.  The low was changed to 1135.50.  The 1135.50 was near enough to the 1135 obj. and still completes the trade.

Bulletin - Originally sent 04/23/04 (10:19 am est) 

 
Due to the technical bearish condition is the intra-day chart at this time long positions will not be attempted at the  1135 - 1133 area.

Results:    04/23/04

Sold @ 1139.50 Bought @ 1135.50 = + $1,000.00     
TOTAL (P & L)    + $1,000.00
The week in review - 04/26/04 - 04/30/04
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 04-26-04:  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 -
1140.20 day channel and 1140.80 day top also 1141 GBX channel and 1142 GBX and weekly top (major area) / 1143.50 weekly channel without GBX prices (major area) / 1145.50 weekly channel with GBX prices and 1145.90 day channel with GBX prices also 1147 long-term major weekly channel (very major area) / 1148.50 weekly top and 1150 weekly double top (major area) / 1154.50 and 1154.70 long-term major monthly channels (very major area) / 1158.70 weekly top (major area) / 1162.30 June contract's weekly top and 1162.90 monthly channel also 1163.50 weekly chart's top (very major area) / 1167.80 and 1168.30 minor monthly upper channels (major area) / 1173.20 daily upper channel (major area).
 
Support:  For the June contract -
1136 and 1135.50 base (major area) / 1133.40 day bottom and 1032.90 intra-day channel (major area) / 1129 day channel (very major area) / 1120.60 newly developed weekly channel and 1120.50 base also 1119.20 day bottom and 1118.70 day channel (very major area) / 1116.20 minor weekly channel with GBX prices (major area) / 1114.30 day bottom and 1113.50 weekly bottom also 1112.50 long-term major weekly channel (very major area) / 1110.90 long-term major day channel also 1109.70 long-term major monthly channel (very major area) / 1106.10 weekly gap and 1105.50 GBX bottom (major area) / 1104.40 major weekly channel also 1103.20 and 1103.10 monthly channels (very major area) / 1101.30 monthly channel (major area) / 1098.60 major weekly channel and 1095.70 minor monthly channel (very major area).
 
Comments:
    The narrow whiplashing action seen in Friday's trading session can be a signal of a possible 
resistance to higher prices due to the fact of such major resistance found at the 1143.50 - 1145.90 area and the 1147 area as well.  These resistances can prove to be significant enough to stimulate some selling for retracements to the downside.  A trade above 1147 is bullish and a trade above 1154.70 will be considered a breakout for higher prices to follow.  A trade below 1129 is slightly bearish but only a trade below 1118.70 can bring any solid bearishness back to the chart.  A trade below 1109.70 will confirm a downtrend intact for lower prices to follow.  Remain defensive inside the first neutral range between 1140.80 and 1135.50 area and also between the first major range between 1147 and 1129.
                               
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1140 - 1141 or buy dips near 1137 - 1135.50 area, whichever side comes first, to complete the trade.  (Use a buy stop and rev. long at 1142.70).  (Use a sell stop and rev. short at 1134.70).
 
Aggressive traders can sell rallies near 1143.50 - 1145.90 area and if possible near 1147 or buy dips near 1130 - 1129 area, whichever side comes first, to complete the trade.  NOTE:  This trade will only use one side or the other whichever comes first and will cancel out the other side once one of the sides are complete.  Do not repeat the trade with the other side as usual.  (Use a buy stop and rev. long at 1151).  (Use a sell stop and rev. short at 1126).
 
Buy stop at 1142.70 for obj. near 1143.50 - 1145.90 area.
Buy stop at 1151 for obj. near 1154 - 1154.70 area.
Buy stop at 1155.70 for obj. near 1157.70 - 1158.70 area.
 
Sell stop at 1134.70 for obj. near 1133.20 - 1132.90 area and possibly near 1129.
Sell stop at 1126 for obj. near 1122 - 1120.50 area and possibly near 1118.70.
 

* 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 04/26/04 (9:59 am est) 

 
The buy stop at 1142.70 was hit, putting traders into long positions.  The rally up to 1144 meets the obj. and completes the trade. 
 
Short positions were taken at 1144, which is inside the second sell area.  The obj. to complete this trade will be near 1132.90 - 1130 area.  If rallies continue near the 1147 resistance, additional short positions can be added.  (Continue to use a buy stop and rev. long at 1151).

Bulletin - Originally sent 04/26/04 (10:42 am est) 

 
Short positions were taken at 1144.  The sell off down to 1136 is showing signs of support for traders to consider taking profits. 
 
Exit short positions at the market, which is trading at 1136.90 to complete the trade.  Re-enter short positions on a sell stop at 1134.70.

Results:    04/26/04

Sold @ 1140.20 Bought @ 1142.70 = -  $   625.00     
Bought @ 1142.70 Sold @ 1144 = + $   325.00
Sold @ 1144 Bought @ 1136.90 = + $1,775.00
TOTAL (P & L)    + $1,475.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 04-27-04:  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the June contract -
1138.60 intra-day channel (major) / 1139.20 and 1139.50 peaks also 1140.20 peak (major area) / 1143.30 day channel with GBX prices and 1144 day top (major area) / 1145.40 day channel and 1145.50 weekly channel with GBX prices also 1147 long-term major weekly channel (very major area) / 1148.50 weekly top and 1150 weekly double top (major area) / 1154.50 and 1154.70 long-term major monthly channels (very major area) / 1158.70 weekly top (major area) / 1162.30 June contract's weekly top and 1162.90 monthly channel also 1163.50 weekly chart's top (very major area) / 1167.80 and 1168.30 minor monthly upper channels (major area) / 1173.50 daily upper channel (major area).
 
Support:  For the June contract -
1137.30 day channel and 1135.90 day channel (major area) / 1133.90 intra-day channel and 1132.60 base also 1131.30 day bottom (very major area) / 1120.60 weekly channel and 1120.30 base also 1120.20 day channel and 1119.70 day bottom (very major area) / 1116.20 minor weekly channel with GBX prices (major area) / 1114.30 day bottom and 1113.50 weekly bottom also 1112.50 long-term major weekly channel and 1112 long-term major day channel (very major area) / 1109.70 long-term major monthly channel (very major area) / 1106.10 weekly gap and 1105.50 GBX bottom (major area) / 1104.40 major weekly channel and 1104 major day channel also 1103.20 and 1103.10 monthly channels (very major area) / 1101.30 monthly channel (major area) / 1098.60 major weekly channel and 1095.70 minor monthly channel (very major area).
 
Comments:
    The sell-off on Monday from the major resistance was significant but the rally from the major support also proved significant as well leaving the chart neutral inside both the major trading range between the 1143.30 - 1147 resistance and 1120.60 - 1119.70 support and the first neutral range as listed below.  A trade above 1154.70 will be considered a breakout for higher prices and a trade below 1109.70 will confirm the downtrend intact for lower prices.  Remain defensive inside the first neutral range between the 1138.60 - 1140.20 resistance and 1135.90 - 1133.90 support areas and also the wider major trading range.
                                   
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1138.60 - 1140.20 area or buy dips near 1137 - 1135.90 area, whichever side comes first, to complete the trade.  (Use a protective buy stop at 1141.30.  Do not rev. long).  (Use a sell stop and rev. short at 1135.30).
 
Aggressive traders can sell rallies near 1145 - 1147 area for obj. near 1143 - 1141 area.  (Use a buy stop and rev. long at 1147.70).
 
Aggressive traders can sell rallies near 1154 - 1154.70 area for obj. near 1150.50 - 1148.50 area.  (Use a buy stop and rev. long at 1155.70).
 
Buy stop at 1147.70 for obj. near 1148.70 - 1150 area.
Buy stop at 1151.70 for obj. near 1153.70 - 1154.70 area.
Buy stop at 1155.70 for obj. near 1158.70 - 1162 area.
 
Sell stop at 1135.30 for obj. near 1133.90 - 1131.90 area.
Sell stop at 1128 for obj. near 1122 - 1119.70 area.
Sell stop at 1119 for obj. near 1117 - 1116.20 area.
Sell stop at 1115.70 for obj. near 1113.50 - 1112.50 area and possibly near 1109.70.
 

* 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 04/27/04 (10:55 am est) 

 
Long positions were taken at 1137 and sold at 1139 completing the first trade.
 
Short positions were taken at 1146 and the sell off down to 1142 meets the obj. and completes the trade.

Results:    04/27/04

Bought @ 1137 Sold @ 1139   = + $   500.00
Sold @ 1146 Bought @ 1143 = + $1,000.00
Sold @ 1144.50 Bought @ 1141 = + $   875.00
Sold @ 1135.30 Bought @ 1137.90 = -  $   650.00     
TOTAL (P & L)    + $1,725.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 04-28-04:  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the June contract -
1138.70 and 1139 peaks (major area) / 1140.90 and 1142.10 peaks (major area) / 1145.80 newly developed day channel and 1146.20 day top also 1147 long-term major weekly channel (very major area) / 1148.50 weekly top and 1150 weekly double top (major area) / 1154.50 and 1154.70 long-term major monthly channels (very major area) / 1158.70 weekly top (major area) / 1162.30 June contract's weekly top and 1162.90 monthly channel also 1163.50 weekly chart's top (very major area) / 1167.80 and 1168.30 minor monthly upper channels (major area) / 1173.80 daily upper channel (major area).
 
Support:  For the June contract -
1135.50 intra-day channel and 1135.30 base also 1134.70 day bottom (major area) / 1132.60 and 1132.50 base also 1131.30 day bottom (major area) / 1121.60 day channel and 1120.50 base also 1119.70 day bottom (very major area) / 1116.20 minor weekly channel with GBX prices (major area) / 1114.30 day bottom and 1113.50 weekly bottom also 1113.10 long-term major day channel and 1112.50 long-term major weekly channel (very major area) / 1109.70 long-term major monthly channel (very major area) / 1106.10 weekly gap and 1105.50 GBX bottom (major area) / 1104.80 major day channel and 1104.40 major weekly channel also 1103.20 and 1103.10 monthly channels (very major area) / 1101.30 monthly channel (major area) / 1098.60 major weekly channel and 1095.70 minor monthly channel (very major area).
 
Comments:
    The sell-off on Tuesday from the major resistance proved to be significant again for the second day in a row and also managed to close below the daily support channel leaving the chart in neutral to bearish condition.  Only a trade above 1147 can bring any bullishness back to the chart.  A trade today below  1135.50 is bearish and a trade below 1131.30 can bring prices down to challenge the 1121.60 - 1119.70 major support area and possibly near 1116.20 - 1112.50 area.  A trade below 1109.70 will confirm a downtrend intact for lower prices.  Remain defensive inside the first trading range between 1138.70 - 1140.90 resistance and 1135.50 - 1131.30 support area.  The two major trading ranges still remain  between (1147 - 1121.60 weekly trading area) and (1154 - 1109.70 monthly trading area).
                                       
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1138 - 1140.90 area for obj. near 1136 - 1135.50 area and possibly near 1134.70 - 1133 area.  (Use a protective buy stop at 1141.70.  Do not rev. long).
 
Aggressive traders can sell rallies near 1145 - 1147 area for obj. near 1140 - 1137 area.  (Use a buy stop and rev. long at 1148).
 
Aggressive traders can buy dips near 1122 - 1120 area for obj. near 1125 - 1127 area, and possibly near 1129.  (Use a sell stop and rev. short at 1118.50).
 
Buy stop at 1148 for obj. near 1149.50 - 1150.50 area.
Buy stop at 1151.70 for obj. near 1153.70 - 1154.70 area.
Buy stop at 1155.70 for obj. near 1158.70 - 1162 area.
 
Sell stop at 1131 for obj. near 1125 - 1122 area.
Sell stop at 1118.50 for obj. near 1116.50 and possibly near 1113.10 - 1112.50 area.
 

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

Bulletin - Originally sent 04/28/04 (10:50 am est) 

 
The sell stop at 1131 was hit, putting traders into short positions.  The obj. still remains near 1125 - 1122 area.  (Use a protective buy stop at 1141 and cancel the first trade of a sell at 1138 - 1140.90 area).  The only sell area worthy for short positions are near 1145 - 1147 at this time. 

Bulletin - Originally sent 04/28/04 (11:11 am est) 

 
The sell stop was hit at 1131 putting traders into short positions.  The sell-off down to 1126 was near enough to the 1125 obj. and completes the trade.  Traders missing to exit near 1126 can buy at the market, which is trading at 1126.80 at this time, and complete the trade.

Bulletin - Originally sent 04/28/04 (11:38 am est) 

 
The sell-off down to 1122.30 was near enough to the 1122 buy area putting traders into long positions.  The rally up to 1124.80 is near enough to the 1125 obj. and completes the trade.

Results:    04/28/04

Sold @ 1131 Bought @ 1126   = + $1,250.00  
Bought @ 1122.30 Sold @ 1124.80 = + $   625.00     
TOTAL (P & L)    + $1,875.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 04-29-04:  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the June contract -
1123.50 intra-day channel also 1123.80 and 1124.90 peaks (major area) / 1126.80 intra-day channel also 1127.50 and 1128.20 peaks (major area) / 1129.80 and 1130.20 peaks also 1130 day channel with GBX prices and 1130.70 peak (very major area) / 1131.70 and 1131.80 peak (major area) / 1134.20 day top and 1134.70 rev. bottom (major area) / 1137.90 day gap and 1138.10 GBX top also 1139 peak (major area) / 1140.90 peak (major) / 1145.30 day channel and 1147 long-term major weekly channel (very major area) / 1148.50 weekly top and 1150 weekly double top (major area) / 1154.50 and 1154.70 long-term major monthly channels (very major area) / 1158.70 weekly top (major area) / 1162.30 June contract's weekly top and 1162.90 monthly channel also 1163.50 weekly chart's top (very major area).
 
Support:  For the June contract -
1121.40 newly developed day channel also 1120 and 1119.70 day bottoms (major area) / 1117 day channel and 1116.20 minor weekly channel with GBX prices (major area) / 1114.30 day bottom and 1114.20 long-term major day channel also 1113.50 weekly bottom and 1112.50 long-term major weekly channel (very major area) / 1109.70 long-term major monthly channel (very major area) / 1106.10 weekly gap and 1105.50 GBX bottom also 1105.60 major day channel (very major area) / 1104.40 major weekly channel also 1103.20 and 1103.10 monthly channels (very major area) / 1101.30 monthly channel (major area) / 1098.60 major weekly channel and 1095.70 minor monthly channel (very major area) / 1091.50 day gap and 1090.10 GBX bottom (major area) / 1087.70 GBX weekly bottom and 1085 major weekly bottom (very major area).
 
Comments:
    The sell-off on Wednesday from the bearish condition materialized as expected bringing prices down and nearing the major support areas at 1116.20 and 1112.50 and 1109.70, which can stimulate rallies from any one of these areas.  A trade below 1119.70 can bring prices down to challenge the 1116.20 - 1114.20 support and possibly near the 1112.50 and 1109.70 major support.  A trade below 1109.70 will confirm the downtrend intact for lower prices.  A trade today above 1130 is slightly bullish but only a trade above 1147 can bring any solid bullishness back to the chart.  Remain defensive inside the first major trading range between 1130 and 1116.20 area.
                                           
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1123.50 - 1124.90 area and if possible near 1127 - 1130 area for obj. near 1117 - 1116.20 area and possibly near 1114.50 - 1112.50 area.  (Use a buy stop and rev. long at 1133).  (Conservative traders can use a protective buy stop at 1130.70.  Do not rev. long).
 
Aggressive traders can attempt long positions near 1112.50 and if possible near 1109.70 for obj. near 1115 - 1117 area and possibly near 1119.  (Use a sell stop and rev. short at 1108).
 
Buy stop at 1133 for obj. near 1136 - 1137.90 gap area.
 
Sell stop at 1119 for obj. near 1117 - 1116.20 area and possibly near 1114.50 - 1112.50 area.
Sell stop at 1108 for obj. near 1106.10 gap - 1105.50 area and possibly near 1104.40.
Sell stop at 1100.50 for obj. near 1098.60 - 1095.70 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 04/29/04 (9:50 am est) 

 
Short positions were taken at 1123.50.  The sell-off down to 1118.20 seem good enough to take profits.  Exit short positions at the market, which is trading at 1118.20 and complete the trade.

Bulletin - Originally sent 04/29/04 (11:27 am est) 

 
The rally up to the sell area at 1127- 1130  put traders into short positions at the high end of the sell area at 1127.  The sell-off down to 1124 is worthy enough to consider taking profits and completing the trade.

Bulletin - Originally sent 04/29/04 (3:12 pm est) 

 
The sell-off down to 1112.50 and 1109.70 put traders into long positions at 1112.50 and 1109.70.
 
Since the market traded below the 1109.70 area it is recommended to exit all long positions at the market, which is trading at 1111.50 at this time and scratch the trade on the first one and take profits on the second one..

Bulletin - Originally sent 04/29/04 (3:27 pm est) 

 
The sell stop at 1108 was hit putting traders into short positions.  The sell-off down to 1106.50 is near enough to the 1106.10 obj. and completes the trade.

Results:    04/29/04

Sold @ 1123.50 Bought @ 1118.20 = + $1,325.00     
Sold @ 1119 Bought @ 1118.20 = + $   200.00
Sold @ 1127 Bought @ 1124 = + $   750.00
TOTAL (P & L)    + $2,275.00

 

A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 04-30-04:  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the June contract -
1114.50 Intra-day channel and peak (major area) / 1118.40 intra-day channel and 1118.70 peak (major area) / 1120 Intra-day gap and 1120.20 peak also 1120.80 and 1120.90 day channels (very major area) / 1127.50 and 1127.80 peaks also 1128 day top (major area) / 1129.50 intra-day gap and 1130.70 peak (major area) / 1134.20 day top and 1134.70 rev. bottom (major area) / 1137.90 day gap and 1138.10 GBX top also 1139 peak (major area) / 1144.50 peak and 1144.90 day channel (very major area) / 1146.20 day top and 1147 long-term major weekly channel (very major area) / 1148.50 weekly top and 1150 weekly double top (major area) / 1154.50 and 1154.70 long-term major monthly channels (very major area).
 
Support:  For the June contract -
1112.50 and 1112.20 base (major area) / 1110.30 and 1109.70 base (major area) / 1107.30 newly developed day channel and 1106.50 day bottom also 1106.40 major day channel and 1106.10 weekly gap and 1105.50 GBX bottom (very major area) / 1104.40 major weekly channel also 1103.20 and 1103.10 monthly channels (very major area) / 1101.30 monthly channel (major area) / 1098.60 major weekly channel and 1095.70 minor monthly channel (very major area) / 1091.50 day gap and 1090.10 GBX bottom (major area) / 1087.70 GBX weekly bottom and 1085 major weekly bottom (very major area).
 
Comments:
     The sell-off on Thursday from the major resistance brought prices down below the 1109.70 major monthly channel support, which is bearish, but managed to use the 1106.10 gap and 1104.40 weekly channel as a support area to stimulate a small recovery rally.  This leaving the chart in a neutral to bearish condition.  A trade today above 1121.90 is slightly bullish but technically only a trade and close on Friday above 1134.90 can bring any solid bullishness back to the chart.  A trade today below 1110.30 - 1109.70 is bearish but more significantly a trade and close below 1106.40 - 1104.40 area will confirm the major downtrend intact for lower prices to follow.  Remain defensive inside the 1121.90 - 1106.40 major trading area and also inside the first neutral range between 1114.50 - 1109.70 area.                                               
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1113 - 1114.50 area for obj. near 1110.50 - 1109.70 area.  (use a protective buy stop at 1115.70.  Do not rev. long).
 
Aggressive traders can sell rallies near 1118 - 1120 area and if possible near 1121.90 for obj. near 1114.50 - 1112.50 area and possibly near 1110.50.  (Use a buy stop and rev. long at 1124.90).
 
Buy stop at 1124.90 for obj. near 1127 - 1129 area and possibly near 1130.
Buy stop at 1134.90 for obj. near 1136.90 - 1137.90 gap and possibly near 1139.
Buy stop at 1141 for obj. near 1144 - 1147 area.
 
Sell stop at 1109.30 for obj. near 1107.30 - 1106.10 gap and possibly near 1104.40 major channel.
Sell stop at 1100.50 for obj. near 1098.80 - 1095.70 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 04/30/04 (9:56 am est) 

 
The rally up to 1118.50 was the sell area and put traders into short positions at 1118.  The sell-off down to 1114.50 meets the obj. and completes the trade.

Bulletin - Originally sent 04/30/04 (10:05 am est) 

 
Concerning the first trade in today's report - Since the market opened above the 1115.70 protective buy stop, the first trade was automatically cancelled and is not to be used for the rest of the day.  As the market continued to trade higher, the sell area of the second trade was hit, putting traders into short positions at the 1118 area.  If this trade is to be repeated, traders should now attempt short positions near the high end of the sell area at 1120 - 1121.90 area.  (Continue to use a buy stop and rev. long at 1124.90).

Bulletin - Originally sent 04/30/04 (3:22 pm est) 

 
The sell-stop was hit at 1109.30 putting traders into short positions.  The sell-off down to 1107.30 meets the obj. and completes the trade.

Results:    04/30/04

Sold @ 1118 Bought @ 1114.50 = + $   875.00     
Sold @ 1117.50 Bought @ 1112.50 = + $1,250.00
Sold @ 1109.30 Bought @ 1107.30 = + $   500.00
TOTAL (P & L)    + $2,625.00

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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