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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 - 05/03/04 - 05/07/03
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 05-03-04:  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 June contract -
1109 intra-day channel and minor day channel also 1109.20 intra-day gap (major area) / 1111 and 1111.80 peaks (major area) / 1113.80 day channel with GBX prices and 1114 intra-day gap (major area) / 1115.60 day channel and 1116 peak (very major area) / 1117.80 peak and 1118.50 day top (major area) / 1120 intra-day gap and 1120.20 peak also 1120.80, 1121.20 and 1121.70 peaks (major area) / 1123.70 peak (major) / 1127.50 and 1127.80 peaks also 1128 day top and 1128.20 peak (major area) / 1134.20 day top and 1134.70 rev. base also 1136.50 minor monthly channel (very major area) / 1137.90 day gap and 1138.10 top also 1139 peak (major area) / 1144.30 minor weekly channel and 1144.50 peak also 1145 long-term major weekly channel and 1145.60 long-term major monthly channel and 1146.20 weekly top (very major area) / 1148.50 weekly top and 1150 weekly double top (major area) / 1162.30 June contract's weekly top and 1162.40 monthly channel also 1163.50 weekly chart's top (very major area).
 
Support:  For the June contract -
1104.70 newly developed day channel and 1104 weekly bottom (major area) / 1103.40 long-term day channel and 1102.30 major weekly channel also 1101 long-term day channel (very major area) / 1097.80 day channel and 1097.80 weekly channel also 1096.40 daily down channel (very major area) / 1093.80 day bottom and 1093.30 weekly channel with GBX prices also 1092.50 weekly channel without GBX prices and 1091.50 day gap (major area) / 1090.10 GBX bottom (major) / 1085.30 minor weekly channel and 1085 major weekly bottom also 1084.50 weekly bottom and 1084.30 weekly closing prices (very major area) / 1080.50 GBX weekly bottom and 1080 day bottom (major area) / 1075.10 day bottom (major) / 1067.80 weekly bottom and 1065.60 GBX weekly bottom (major area) / 1053 weekly chart's bottom and 1050.80 June contract's weekly bottom (very major area).
 
Comments:
    The sell-off on Friday close down for the third day in a row and managed to close down for the week and down for the month, leaving the chart in totally bearish territory.  The close on Friday was also below the 1109.70 monthly channel confirming the beginning of a major downtrend for lower prices to be expected.  A trade today above 1115.60 is slightly bullish but only a trade above 1136.50, which is the first monthly channel, can bring any solid bullishness back to the chart.  A trade below 1103.40 and 1101 long-term support channels can bring prices down to challenge the 1097.80 and 1096.40 area and possibly near 1093.30 - 1092.50 channel support.  Remain defensive inside the first trading range between (1109 - 1113.80 and 1115.60 resistances) and (1103.40 - 1102.30 and 1101 support) areas.
    
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1107 - 1109 area for obj. near 1103.70 - 1102.30 area and possibly near 1101.  (Use a protective buy stop at 1111.20.  Do not rev. long).
 
Aggressive traders can sell rallies near 1112.50 - 1115.60 area for obj. near 1105 - 1103.40 area and possibly near 1102.30 - 1101 area.  (Use a protective buy stop at 1119.70.  Do not rev. long).
 
Sell stop at 1100 for obj. near 1098 - 1096.40 area.
Sell stop at 1095.80 for obj. near 1093.80 - 1093.30 and possibly near 1092.50 - 1091.50 gap.
Sell stop at 1089 for obj. near 1087 - 1085 area.
Sell stop at 1078.70 for obj. near 1076.70 - 1075.10 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 05/03/04 (2:57 pm est)

Short positions were taken on the rally at 1112.50 and 1115.60.  The sell-off down to 1110.30 is a worthy  price to consider taking profits and complete the trades.  The market is trading at 1111.30 at this time to exit the short positions.

Results:    05/03/04

Sold @ 1109 Bought @ 1111.20   = -  $   550.00  
Sold @ 1112.50 Bought @ 1111.30 = + $   300.00
Sold @ 1115.60 Bought @ 1111.30 = + $1,075.00     
TOTAL (P & L)    + $   825.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 05-04-04:  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 June contract -
1117.30 minor day channel also 1117.90 and 1118.60 day tops (major area) / 1120 intra-day gap and 1120.80 peak (major area) / 1123.70 peak (significant) / 1127.50 and 1127.80 peaks also 1128 day top and 1128.20 peak (major area) / 1134.20 day top and 1134.70 rev. base also 1136.50 minor monthly channel (very major area) / 1137.90 day gap and 1138.10 top also 1139 peak (major area) / 1144.30 minor weekly channel and 1144.50 peak also 1145 long-term major weekly channel and 1145.60 long-term major monthly channel and 1146.20 weekly top (very major area) / 1148.50 weekly top and 1150 weekly double top (major area) / 1162.30 June contract's weekly top and 1162.40 monthly channel also 1163.50 weekly chart's top (very major area).
 
Support:  For the June contract -
1113.60 intra-day channel and 1113 day channel without GBX prices (major area) / 1111.80 intra-day channel and 1111.20 (very major area) / 1110 and 1109.10 base also 1108.50 day bottom (major area) / 1106.10 weekly closing gap and 1105.40 day channel without GBX prices also 1104.70 day channel with GBX prices (major area) / 1104.20 long-term day channel and 1104 GBX bottom and day bottom (very major area) / 1102.30 major weekly channel and 1101.60 long-term day channel (very major area) / 1198.20 day channel and 1197.80 weekly channel (very major area) / 1094.50 daily down channel and 1093.80 day bottom also 1093.30 weekly channel with GBX prices also 1092.50 weekly channel without GBX prices also 1091.50 day gap (very major area) / 1090.10 GBX bottom (major) / 1085.30 minor weekly channel and 1085 major weekly bottom also 1084.50 weekly bottom and 1084.30 weekly closing prices (very major area) / 1080.50 GBX weekly bottom and 1080 day bottom (major area) / 1075.10 day bottom (major) / 1067.80 weekly bottom and 1065.60 GBX weekly bottom (major area).
 
Comments:
    The rally on Monday brought prices above the three daily channels and also managed to close above the last two days closing prices removing the bearishness from the chart leaving the chart in neutral condition again.  The major trading range remains between 1136.50 and 1101.60.  Remain defensive inside the first trading range between 1121.70 and 1113 area and also inside the major trading range between 1136.50 and 1101.60.
        
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1117.30 and 1120 area and if possible near 1120.80 or buy dips near 1114 - 1113 area, whichever side comes first to complete the trade.  (Use a buy stop and rev. long at 1122).  (Use a sell stop and rev. short at 1109).
 
Buy stop at 1122 for obj. near 1124.50 - 1126.50 and possibly near 1128 top area.
Buy stop at 1131 for obj. near 1134 - 1136.50 area.
 
Sell stop at 1109 for obj. near 1106.10 gap - 1105.40 area and possibly near 1104.70.
Sell stop at 1100.50 for obj. near 1098.20 - 1097.80 area.
Sell stop at 1096 for obj. near 1094.50 - 1091.50 area.
 
Aggressive traders can attempt short positions near the very major resistance at 1136.50 area for obj. near 1130 - 1128 area and possibly near 1124.  (Use a protective buy stop at 1139.50.  Do not rev. long).  NOTE:  Position traders can hold the 1136.50 short position overnight.  The main obj. is to exit near 1105 - 1102.60 area and possibly near 1097.80.  (Continue to use a protective buy stop at 1139.50 in both the GBX and day sessions, for this entire week).
 

* 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 05/04/04 (9:54 am est) 

Short positions were taken on the rally up 1117.50.  The sell off down to 1115.30 is near enough to the 1114 obj. and completes the trade.  

Anyone missing the 1115.30 area should take the short position to the market and buy it at 1116 or better, due to the fact that 1114 was hit in the overnight session.

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

Long positions were taken at 1115.50.  The rally up to 1117.40 is near enough to the 1117.50 obj. and completes the trade.

Bulletin - Originally sent 05/04/04 (11:49 am est) 

The rally up to 1117.50 put traders into short positions again.  The sell off down to 1114.20 is near enough to the 1114 obj. and completes the trade.

Bulletin - Originally sent 05/04/04 (12:05 pm est)  

The sell off down to 1113.50 put traders into long positions.  The obj. at this time is 1116 - 1117 area.  (Continue to use a sell stop and rev. short at 1109).

Bulletin - Originally sent 05/04/04 (1:09 pm est)  

Long positions were taken at 1113.50.  The sell off managed to bring prices below the 1113 support level, putting the chart slightly into bearish condition. 

It is recommended for traders to exit the long position taken at 1113.50.  Sell at the market, which is trading at 1113.50 and scratch the trade at break even.

Bulletin - Originally sent 05/04/04 (2:55 pm est)  

The buy stop at 1122 was hit putting traders into long positions.  The rally up to 11124.50 meets the obj. and completes the trade.

Results:    05/04/04

Sold @ 1117.50 Bought @ 1115.50   = + $   500.00  
Bought @ 1115.50 Sold @ 1117.50 = + $   500.00
Sold @ 1117.50 Bought @ 1114 = + $   875.00
Bought @ 1113.50 Sold @ 1113.50 =    $      -0-
Bought @ 1122 Sold @ 1124.50 = + $   625.00     
TOTAL (P & L)    + $2,500.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 05-05-04:  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 June contract -
1116 intra-day channel (major) / 1118.80 and 1119 peaks (major area) / 1123.80 newly developed day channel and 1124 intra-day gap also 1124.90 day channel with GBX prices (major area) / 1125.80 and 1127 minor day channels also 1127 peak and 1127.50 day top and 1128 day top (very major area) / 1134.20 day top and 1134.70 rev. base also 1136.50 minor monthly channel (very major area) / 1137.90 day gap and 1138.10 top also 1139 peak (major area) / 1144.30 minor weekly channel and 1144.50 peak also 1145 long-term major weekly channel and 1145.60 long-term major monthly channel and 1146.20 weekly top (very major area) / 1148.50 weekly top and 1150 weekly double top (major area) / 1162.30 June contract's weekly top and 1162.40 monthly channel also 1163.50 weekly chart's top (very major area).
 
Support:  For the June contract -
1115.20 and 1114.50 minor day channels without GBX prices also 1114 intra-day channel (major area) / 1113 base and 1111.50 day bottom (major area) / 1110 and 1109.10 base also 1108.50 day bottom (major area) / 1106.10 day channel and 1106.10 weekly closing gap also 1105.50 long-term major day channel and 1105 major day channel (very major area) / 1104 GBX bottom and 1104 weekly bottom (major area) / 1102.30 major weekly channel and 1102.20 long-term minor day channel (very major area) / 1098.70 day channel and 1097.80 weekly channel (very major area) / 1093.80 day bottom and 1093.30 weekly channel with GBX prices also 1092.60 daily down channel and 1092.50 weekly channel without GBX prices also 1091.50 day gap (very major area) / 1090.10 GBX bottom (major) / 1085.30 minor weekly channel and 1085 major weekly bottom also 1084.50 weekly bottom and 1084.30 weekly closing prices (very major area) / 1080.50 GBX weekly bottom and 1080 day bottom (major area) / 1075.10 day bottom (major) / 1067.80 weekly bottom and 1065.60 GBX weekly bottom (major area).
 
Comments:
    The sell-off on Tuesday from the major resistance can prove to be a signal for lower prices to continue.  The sell-off on Tuesday also managed to close down for the day, which is technically considered a minor key reversal to the downside, leaving the chart in slightly bearish condition.  A trade above the 1127.50 - 1128 area is slightly bullish but only a trade above 1136.50 can bring any solid bullishness back to the chart.  A trade below 1105.50 and 1102.20 is bearish for prices to challenge the 1097.80 and 1093.30 support area and possibly lower.  Remain defensive inside the first narrow trading range between 1116 - 1114.50 and the next trading range between 1125.80 and 1105.50 area.
            
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1116 for obj. near 1114.50 and possibly near 1113 area.  (Use a buy stop and rev. long at 1119.30).
 
Aggressive traders can sell rallies near 1122 - 1123.80 area and if possible near 1125 - 1125.80 for obj. near 1118 - 1116 area.  (Use a buy stop and rev. long at 1129.70).
 
Buy stop at 1119.30 for obj. near 1122 - 1123.80 area.
Buy stop at 1129.70 for obj. near 1133 - 1134.20 area and possibly near 1136.50.
Buy stop at 1139.50 for obj. near 1142 - 1144.50 area and possibly near 1145.
 
Sell stop at 1109 for obj. near 1106.10 gap - 1105.50 area.
Sell stop at 1101 for obj. near 1098.70 - 1097.80 area.
Sell stop at 1096 for obj. near 1094.50 - 1092.60 area and possibly near 1091.50 gap.
Sell stop at 1090 for obj. near 1087 - 1085 bottom area and possibly near 1080.50.
 

* 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 05/05/04 (10:11 am est)

 
The buy stop was hit at 1119.30 putting traders into long positions.  The market is showing signs of resistance at the 1120.50 area that can prevent the obj. of 1122 from being met.
 
It is recommended for traders to exit the long position at the market, which is trading at 1118.80 at this time, and cut losses.

Results:    05/05/04

Sold @ 1119 Bought @ 1119.30   = -  $    75.00  
Bought @ 1119.30 Sold @ 1118.80 = -  $   125.00     sold as per bulletin
Sold @ 1122 Bought @ 1118 = + $1,000.00
Sold @ 1123.80 Bought @ 1121.80 = + $   500.00     
TOTAL (P & L)    + $1,300.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 05-06-04:  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the June contract -
1122.20 day channel (major) / 1123.50 intra-day channel and 1123.80 peak also 1124.10 day channel and 1124.30 day top (very major area) / 1126.50 minor day channel and 1127.50 day top also 1128 day top (major area) / 1134.20 day top and 1134.70 rev. base also 1136.50 minor monthly channel (very major area) / 1137.90 day gap and 1138.10 top also 1139 peak (major area) / 1143.50 and 1144.10 day channels also 1144.30 minor weekly channel and 1144.50 peak also 1145 long-term major weekly channel and 1145.60 long-term major monthly channel and 1146.20 weekly top (very major area) / 1148.50 weekly top and 1150 weekly double top (major area) / 1162.30 June contract's weekly top and 1162.40 monthly channel also 1163.50 weekly chart's top (very major area).
 
Support: For the June contract -
1121.10 minor day channel and 1120.20 base also 1119.70 intra-day channel and 1119.20 base (major area) / 1117.80 and 1117.30 base also 1116.70 GBX channel and 1116.30 day bottom also 1115.50 day gap (very major area) / 1114.50 and 1113 base (major area) / 1112.50 GBX bottom and 1111.50 day bottom (major area) / 1108.50 day bottom (major) / 1106.80 and 1106 day channels also 1106.30 day channel and 1106.10 weekly closing gap (very major area) / 1105.70 long-term day channel also 1104 GBX bottom and 1104 weekly bottom (major area) / 1102.90 long-term minor day channel and 1102.30 major weekly channel (very major area) / 1099.10 day channel and 1097.80 weekly channel (very major area) / 1093.80 day bottom and 1093.30 weekly channel with GBX prices also 1092.50 weekly channel without GBX prices also 1091.50 day gap (very major area) / 1090.70 daily down channel and 1090.10 GBX bottom (major area) / 1085.30 minor weekly channel and 1085 major weekly bottom also 1084.50 weekly bottom and 1084.30 weekly closing price (very major area) / 1080.50 GBX weekly bottom and 1080 day bottom (major area) / 1075.10 day bottom (major) / 1067.80 weekly bottom and 1065.60 GBX weekly bottom (major area).
 
Comments:
    The whiplashing action seen in Wednesday's trading session proved the neutral condition leaving the chart neutral again inside the first narrow range between 1124.10 and 1116.70 area.  A trade above 1124.10 and 1126.50 areas can bring prices up to challenge the 1134.20 - 1136.50 major resistance and should be considered a selling area if it gets there.  A trade below 1116.70 is slightly bearish but a trade below the 1106.80 - 1106.10 support area can bring prices down to challenge the 1102.60 area and possibly near the 1097.80 weekly support.  Remain defensive inside the first narrow trading area between 1124.10 and 1116.70.
                
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1122 - 1124.10 area or buy dips near 1119.70 - 1116.70 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).
 
Aggressive traders can sell rallies near 1134.30 - 1136.50 area for obj. near 1128 - 1126.50 area and possibly near 1124. (Use a buy stop and rev. long at 1139.70).
 
Buy stop at 1128.70 for obj. near 1131.70 - 1134.30 area and possibly near 1136.50.
Buy stop at 1139.70 for obj. near 1143 - 1144.10 area and possibly near 1145.60.
 
Sell stop at 1115 for obj. near 1112.50 - 1111.50 area.
Sell stop at 1110 for obj. near 1108 - 1106.10 area and possibly near 1105.70 support channel.
Sell stop at 1101.70 for obj. near 1099.10 - 1097.80 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 05/06/04 (10:07 am est)

 
The sell stop was hit at 1115, putting traders into short positions.  The market is showing signs of support at the 1114 area than can prevent the 1112.50 obj. from being met. 
 
It is recommended for traders to exit the short position at the market, which is trading at 1117.50 and cut losses. 

Bulletin - Originally sent 05/06/04 (12:47 pm est)

 
The sell stop was hit at 1110 putting traders into short positions.  The sell-off down to the 1106.10 gap meets the obj. and completes the trade.

Results:    05/06/04

Sold @ 1115 Bought @ 1117.50   = -  $   625.00     bought as per bulletin  
Sold @ 1110 Bought @ 1106.10 = + $   975.00     
TOTAL (P & L)    + $   350.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 05-07-04:  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the June contract -
1114.70 and 1115.10 intra-day channels also 1115.50 peak (major area) / 1117 day channel and 1117.90 newly developed minor day channel also 1118.50 day top and 1119.50 day channel with GBX prices (major area) / 1122 day gap and 1122.50 day channel (very major area) / 1124.30 day top and 1124.50 minor day channel (major area) / 1127.50 and 1128 day tops (major area) / 1134.20 day top and 1134.70 rev. base also 1136.50 minor monthly channel (very major area) / 1137.90 day gap and 1138.10 GBX top also 1139 peak (major area) / 1143.10 and 1143.80 day channels (major area) / 1144.30 minor weekly channel and 1144.50 peak also 1145 long-term major weekly channel and 1145.60 long-term major monthly channel and 1146.20 weekly top (very major area) / 1148.50 weekly top and 1150 weekly double top (major area) / 1162.30 June contract's weekly top and 1162.40 monthly channel also 1163.50 weekly chart's top (very major area).
 
Support: For the June contract -
1112.20 intra-day channel and 1111.20 base (major area) / 1109.80 intra-day channel and 1109.50 base also 1108.20 base (major area) / 1105.40 newly developed day channel and 1104.80 day bottom also 1104 weekly bottom and 1103.50 long-term day channel (very major area) / 1102.90 long-term minor day channel and 1102.30 major weekly channel (very major area) / 1099.60 day channel (major) / 1097.80 weekly channel (very major area) / 1093.80 day bottom and 1093.30 weekly channel with GBX prices also 1092.50 weekly channel without GBX prices also 1091.50 day gap (very major area) / 1090.10 GBX bottom (major area) / 1085.30 minor weekly channel and 1085 major weekly bottom also 1084.50 weekly bottom and 1084.30 weekly closing price (very major area) / 1080.50 GBX weekly bottom and 1080 day bottom (major area) / 1075.10 day bottom (major) / 1067.80 weekly bottom and 1065.60 GBX weekly bottom (major area).
 
Comments:
    The sell-off on Thursday brought prices down to a very major support area, which proved to be significant enough to stimulate a rally leaving the chart neutral inside the 1122.50 - 1102.30 major trading range.  A trade above 1122.50 - 1124.50 area is slightly bullish but only a trade above 1136.50 can bring any solid bullishness back to the chart.  A trade below 1109.80 - 1108.20 area is slightly bearish but only a trade below 1102.90 - 1102.30 area can prove the downtrend intact for lower prices.  Remain defensive inside the first narrow trading range between 1115.10 and 1112.20 and also the next trading range between 1117.90 - 1122.50 resistance and 1105.40 - 1102.30 support area.
                    
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1114.70 - 1115.10 area or buy dips near 1112.20 - 1109.80 area, whichever side comes first to complete the trade.  (Use a buy stop and rev. long at 1116).  (Use a sell stop and rev. short at 1108).
 
Aggressive traders can sell rallies near 1117.90 - 1119.50 area and if possible near the 1122 gap - 1122.50 area for obj. near 1115.50 - 1113.50 area.  (Use a buy stop and rev. long at 1125).
 
Buy stop at 1116 for obj. near 1117.90 - 1119.50 area and possibly near 1122 gap - 1122.50 area.
Buy stop at 1125 for obj. near 1126.50 - 1127.50 area and possibly near 1128.
Buy stop at 1131 for obj. near 1134 - 1136.50 area.
 
Sell stop at 1108 for obj. near 1106 - 1105.40 area and possibly near 1102.90 - 1102.30 area.
Sell stop at 1101.70 for obj. near 1099.60 - 1097.80 area.
Sell stop at 1096 for obj. near 1094 - 1093.30 area and possibly near 1092.50 - 1091.50 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.

Results:    05/07/04

Sold @ 1101.70 Bought @ 1099   = + $   675.00     
Sold @ 1096 Bought @ 1095.50 = + $   125.00     
TOTAL (P & L)    + $   800.00
 
The week in review - 05/10/04 - 05/14/04
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 05-10-04:  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 June contract -
1099.80 and 1100 intra-day channels (major area) / 1102 and 1102.70 peaks (major area) / 1104.30 peak and 1105.90 intra-day channel (very major area) / 1109.20 peak and 1110.30 intra-day channel also 1110.90 peak (major area) / 1112.90 day channel and 1113 peak (very major area) / 1114.70 minor day channel and 1116.60 day top also 1116.90 day channel without GBX prices (major area) / 1118.50 day top (major) / 1120.80 day channel without GBX prices and 1122 day gap (very major area) / 1124.30 day top (major) / 1126.80 minor day channel and 1127.50 weekly top also 1128 day top (major area) / 1134.20 day top and 1134.70 rev. base also 1136.50 minor monthly channel (very major area) / 1137.90 day gap and 1138.10 GBX top also 1139 peak (major area) / 1142.40 minor weekly channel and 1142.90 long-term weekly channel also 1145.60 long-term monthly channel (very major area).
 
Support: For the June contract -
1094.70 weekly channel with GBX prices and 1093.80 day bottom also 1093.70 weekly channel without GBX prices (very major area) / 1091.50 day gap and 1090.10 GBX bottom (major area) / 1085 major weekly bottom and 1084.50 weekly bottom also 1084.30 weekly closing price (very major area) / 1080.50 GBX weekly bottom and 1080 day bottom (major area) / 1075.10 day bottom (major) / 1067.80 weekly bottom and 1065.60 GBX weekly bottom (major area) / 1053 monthly bottom and 1050.80 weekly bottom on the June contract (very major area) / 1040.30 weekly bottom without GBX prices and 1136.30 weekly gap also 1135.30 weekly bottom with GBX prices (very major area).
 
Comments:
    The sell-off on Friday failed the 1102.30 weekly channel support, closing down for the week, leaving the chart in bearish territory and confirming the major downtrend intact for lower prices.  A trade below the 1094.70 and 1093.70 minor weekly channel supports can bring prices down to challenge the 1085 major bottom and possibly near the 1053 monthly bottom.  A trade above the 1105.90 is slightly bullish but only a trade above the 1116.60 and 1120.80 resistance areas can bring any solid bullishness back to the chart.  Remain defensive inside the first trading range between 1099.80 and 1094.70 and also between the next trading range between 1105.90 and 1090.10 area.
                        
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1099 - 1100 area or buy near 1096 - 1094.70 area, whichever side comes first, to complete the trade.  (Use a protective buy stop at 1101.30.  Do not rev. long). (Use a sell stop and rev. short at 1093).
 
Aggressive traders can sell rallies near 1103 - 1105.90 area for obj. near 1100 - 1099 area.  (Use a protective buy stop at 1107.30.  Do not rev. long).
 
Aggressive traders can sell rallies near 1109 - 1112.90 area for obj. near 1106 - 1104.50 area and possibly near 1102.  (Use a protective buy stop at 1113.70.  Do not rev. long).
 
Sell stop at 1093 for obj. near 1091.50 - 1090.10 area.
Sell stop at 1089 for obj. near 1087 - 1085 bottom and possibly near 1084.50 - 1084.30 area.
Sell stop at 1083 for obj. near 1081 - 1080 area.
Sell stop at 1079 for obj. near 1077 - 1075.10 area.
Sell stop at 1072 for obj. near 1069 - 1067.80 area and possibly near 1065.60.
Sell stop at 1062.50 for obj. near 1058 - 1056 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 05/10/04 (10:08 am est)

The sell stop at 1089 was hit on the opening, putting traders into short positions.  The sell off down to 1087 - 1085 area meets the obj. and completes the trade.

Bulletin - Originally sent 05/10/04 (11:04 am est)

The sell stop at 1083 was hit, putting traders into short positions.  The sell off down to 1081 - 1080.50 area meets the obj. and completes the trade.

Bulletin - Originally sent 05/10/04 (1:10 pm est)

The sell stop at 1079 was hit putting traders into short positions.  The rally up to 1089.20 is now considered resistance where additional short positions can be added.  Use a protective buy stop for both short positions at 1094.70.  Do not rev long.

Bulletin - Originally sent 05/10/04 (1:55 pm est)

Short positions were taken at 1079 and 1089.  The sell-off down to 1084.50 is showing signs of neutral conditions being a 50 % retracement for the day.  

It is recommended to exit both short positions at the market, which is trading at 1085.50 at this time and average near the break even for these trades realizing a small loss for both trades together.

Results:    05/10/04

Sold @ 1089 Bought @ 1086   = + $   750.00     
Sold @ 1083 Bought @ 1081 = + $   500.00
Sold @ 1079 Bought @ 1085.30 = -  $1,625.00
Sold @ 1089 Bought @ 1085.50 = + $   875.00     
TOTAL (P & L)    + $   500.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 05-11-04:  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 -
1084.50 intra-day channel and 1084.70 peak also 1085.30 intra-day channel and 1086.50 peak (major area) / 1088.20 intra-day channel and 1089.70 peak (major area) / 1092 day top (major) / 1095.50 weekly closing gap and 1096.50 intra-day channel also 1096.60 GBX top (very major area) / 1102 and 1104.30 peaks (major area) / 1109.20 day channel also 1110.90 and 1111.40 peaks (very major area) / 1112.80 minor day channel and 1113 peak also 1114.20 day channel with GBX prices (major area) / 1116.60 day top (major) / 1118.50 day top and 1119.10 day channel without GBX prices (very major area) / 1122 day gap and 1124.30 day top (major area).
 
Support: For the June contract -
1080 base and 1079.50 newly developed long-term day channel (major area) / 1078.50 bottom (major) / 1075.10 day bottom (major) / 1067.80 weekly bottom and 1065.60 GBX weekly bottom (major area) / 1053 monthly bottom and 1050.80 weekly bottom on the June contract (very major area) / 1040.30 weekly bottom without GBX prices and 1136.30 weekly gap also 1135.30 weekly bottom with GBX prices (very major area) / 1130.40 monthly bottom (very major area) / 997.30 monthly bottom and 994.10 monthly gap (very major area).
 
Comments:
    The opening gap down and sell-off on Monday proves the bearishness, leaving the chart in bearish condition for lower prices.  A trade above 1095.50 - 1096.50 area is slightly bullish but only a trade above 1109.20 - 1111.40 area can bring any solid bearishness back to the chart.  A trade below 1075.10 bottom can bring prices down to challenge the 1067.80 - 1065.60 area and possibly near the 1053 bottom area.  Remain defensive inside the first trading range between the 1084.50 - 1088.20 resistance and the 1080 - 1079.50 support areas.
                            
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1084.50 - 1088.20 area for obj. near 1081 - 1079.50 area.  (Use a buy stop and rev. long at 1090).
 
Aggressive traders can sell rallies near 1095 - 1096 area for obj. near 1092 - 1089.80 area.  (Use a buy stop and rev. long at 1098.70).
 
Buy stop at 1090 for obj. near 1091.90 - 1093.70 area and possibly near 1095.
Buy stop at 1098.70 for obj. near 1101 - 1102 area and possibly near 1104.30.
 
Aggressive traders can sell rallies near 1109 - 1111 area, if it can get there, for obj. near 1105 - 1102 area.  (Use a protective buy stop at 1115.  Do not rev. long).
 
Sell stop at 1078 for obj. near 1076 - 1075.10 area.
Sell stop at 1072 for obj. near 1068 - 1067.80 and possibly near 1065.60.
Sell stop at 1062 for obj. near 1058 - 1056 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 05/11/04 (9:43 am est) 

The buy stop at 1090 was hit putting traders into long positions.  The rally up to 1091.50 is near enough to the 1091.90 obj. and completes the trade.

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

The rally up to 1094.20 was near enough to the 1095 sell area, putting traders into short positions at 1094.  The sell off down to 1092 meets the obj. and completes the trade.

Results:    05/11/04

Sold @ 1089 Bought @ 1090   = -  $   250.00     
Bought @ 1090 Sold @ 1091.50 = + $   375.00
Sold @ 1094 Bought @ 1092 = + $   500.00
Sold @ 1094.80 Bought @ 1089.80 = + $1,250.00
Sold @ 1095 Bought @ 1092 = + $   750.00     
TOTAL (P & L)    + $1,875.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 05-12-04:  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 -
1095 intra-day channel and 1095 day top also 1095.50 weekly closing gap and 1096.60 GBX top (very major area) / 1102 and 1104.30 peaks (major area) / 1105.50 day channel (very major area) / 1110.90 minor day channel and 1110.90 peak also 1111.40 peak and 1111.60 day channel with GBX prices (very major area) / 1113 peak (major) / 1116.60 day top and 1117.50 day channel without GBX prices also 1118.50 day top (very major area) / 1122 day gap and 1124.30 day top (major area) / 1127.50 and 1128 day tops (major area) / 1134.20 day top and 1136.50 monthly channel (very major area).
 
Support: For the June contract -
1089.80 base and 1088.10 base also 1088 day bottom and 1087.40 - 1087 GBX base (major area) / 1083.40 GBX base and 1083.40 day gap (major area) / 1081.70 intra-day channel and 1081.50 GBX bottom also 1080.40 long-term day channel and 1080 intra-day base (very major area) / 1078.50 day bottom (major) / 1075.10 day bottom (major) / 1067.80 weekly bottom and 1065.60 GBX weekly bottom (major area) / 1053 monthly bottom and 1050.80 weekly bottom on the June contract (very major area) / 1040.30 weekly bottom without GBX prices and 1136.30 weekly gap also 1135.30 weekly bottom with GBX prices (very major area) / 1130.40 monthly bottom (very major area).
 
Comments:
    The recovery rally seen on Tuesday from the established bearish condition is an occasional  technical move that sometimes happens after a large two day sell-off that was seen on Friday and Monday.  This rally does not remove the bearish conditions for Wednesday.  The rally on Tuesday did bring prices up to the major resistance, which proved to be significant enough to stimulate selling and completed the recommended day trade more than once in Tuesday's session.  The 1095 - 1096.60 resistance remains for Wednesday and also the major day channel now found at 1105.50.  A trade on Wednesday above 1105.50 is slightly bullish but only a trade above 1117.50 can bring any solid bullishness back to the chart.  A trade today below 1080.40 is bearish and can stimulate enough selling pressure to bring prices down to challenge the 1067.80 area and possibly near the 1053 major bottom.  Remain defensive inside the first trading range between 1095 and 1083.40 and also between the next trading range between 1105.50 and 1080.40.
                                
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1094 - 1096 area for obj. near 1089.80 - 1088.10 area and possibly near 1087.  (Use a buy stop and rev. long at 1098.70).
 
Aggressive traders can sell rallies near 1102 - 1105.50 area for obj. near 1099 - 1096 area.  (Use a buy stop and rev. long at 1107.50).
 
Buy stop at 1098.70 for obj. near 1102 - 1105.50 area.
Buy stop at 1107.50 for obj. near 1109 - 1110.90 area and possibly near 1111.40.
 
Sell stop at 1086.70 for obj. near 1083.40 area and possibly near 1081.10.
Sell stop at 1078 for obj. near 1076 - 1075.10 area.
Sell stop at 1072 for obj. near 1068 - 1067.80 and possibly near 1065.60.
Sell stop at 1062 for obj. near 1058 - 1056 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 05/12/04 (10:23 am est)  

The sell stop at 1086.70 was hit, putting traders into short positions.  The sell off down to 1083.80 is near enough to the 1083.40 obj. and completes the trade.

Bulletin - Originally sent 05/12/04 (12:21 am est)  

The sell stop at 1078 was hit, putting traders into short positions.  The sell off down to 1076.50 is near enough to the 1076 obj. and completes the trade. 

Bulletin - Originally sent 05/12/04 (4:16 pm est)  

The buy stop at 1098.70 was hit putting traders into long positions.  The market is showing signs of resistance in this area at this time that can prevent the 1102 obj. from being met.  Tomorrow's resistance will be at 1101.80, which is considered a selling area. 

It is recommended for traders to exit the long positions taken at the market, which is trading at 1099.50 at this time and scratch the trade with a small profit.

Results:    05/12/04

Sold @ 1086.70 Bought @ 1083.80   = + $   725.00  
Sold @ 1078 Bought @ 1076.50 = + $   375.00
Bought @ 1098.70 Sold @ 1099.50 = + $   200.00     
TOTAL (P & L)    + $1,300.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 05-13-04:  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the June contract -
1099.80 day top and 1101.80 day channel also 1102 peak (very major area) / 1104.30 and 1104.70 peaks (major) / 1108.90 and 1109 day channels with GBX prices also 1109 peak (very major area) / 1110.90 and 1111.40 peaks (major area) / 1113 peak (major) / 1115.80 day channel without GBX prices and 1116.60 day top (very major area) / 1118.50 day channel (major) / 1122 day gap and 1124.30 day top (major area) / 1127.50 and 1128 day tops (major area) / 1134.20 day top and 1136.50 monthly channel (very major area).
 
Support: For the June contract -
1094.60 base and 1094.40 intra-day channel (major area) / 1089.80 base and 1087.10 intra-day channel also 1086.70 intra-day gap (major area) / 1084.30 intra-day channel also 1083.30 base and 1080 base (major area) / 1078.30 and 1077.80 base also 1076.20 newly developed long-term day channel (very major area) / 1075.30 day bottom and 1075.10 day bottom (major area) / 1067.80 weekly bottom and 1065.60 GBX weekly bottom (major area) / 1053 monthly bottom and 1050.80 weekly bottom on the June contract (very major area).
 
Comments:
    The rally on Wednesday, after making new weekly lows, managed to close above the past three days closing prices and should be considered a technical minor key reversal and bullish.  But because the entire weekly trading range remained below all of the major day channels the overall chart is technically still in bearish territory.  A trade today above the first major channel at 1101.80 is slightly bullish but only a trade above the 1115.80 channel and 1116.60 - 1118.50 day tops can bring any solid bullishness back to the chart.  A trade above the 1136.50 monthly channel will confirm the uptrend to be back into play for higher prices.  A trade below 1076.20 can prove to be significant enough to stimulate selling that can bring prices down to challenge the 1067.80 area and possibly near the 1053 major bottom.  Remain defensive inside the first trading range between 1101.80 - 1094.40 area.
                                    
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1099 - 1101.80 area for obj. near 1096 - 1094.40 area.  (Use a buy stop and rev. long at 1104.80).
 
Aggressive traders can attempt long positions near 1079 - 1076.20 area for obj. near 1084 - 1087 area and possibly near 1090.  (Use a sell stop and rev. short at 1072).
 
Buy stop at 1104.80 for obj. near 1107.80 - 1109 area.
Buy stop at 1113.30 for obj. near 1115 - 1115.80 area and possibly near 1116.60 day top.
Buy stop at 1119 for obj. near 1122 day gap and possibly near 1124.30 day top.
 
Sell stop at 1092.50 for obj. near 1090 - 1087.10 area.
Sell stop at 1086 for obj. near 1084.30 - 1082.30 area and possibly near 1080.
Sell stop at 1072 for obj. near 1068.70 - 1067.80 area and possibly near 1065.60.
Sell stop at 1062.50 for obj. near 1058.50 - 1056.50 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 05/13/04 (10:38 am est)  

The sell stop at 1092.50 was hit, putting traders into short positions.  The sell off down to 1091 was near enough to 1090 obj. and completed the trade. 

The rally up to 1098 was near enough to the 1099 sell area, putting traders into short positions.  The sell off down to 1095 meets the obj. and completes the trade. 

Bulletin - Originally sent 05/13/04 (12:55 pm est)  

Short positions were taken again at the high end of the sell area at 1099.50.  The sell off down to 1096 meets the obj. and completes the trade again.

 

Adjusted Bulletin - Originally sent 05/13/05 (12:58 pm est)

Short positions were taken again at the high end of the sell area at 1099.50 and 1101.80.  The sell off down to 1096 meets the obj. and completes the trade for both contracts.

Results:    05/13/04

Sold @ 1092.50 Bought @ 1091.30   = + $   300.00  
Sold @ 1098 Bought @ 1095 = + $   750.00
Sold @ 1099.50 Bought @ 1096 = + $   875.00
Sold @ 1101 Bought @ 1096 = + $1,250.00     
TOTAL (P & L)    + $3,175.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 05-14-04:  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the June contract -
1094.90 intra-day channel (major) / 1097.30 peak and 1097.50 intra-day channel also 1098.50 peak and 1098.80 newly developed day channel (very major area) / 1099.30 and 1100 peaks (major area) / 1102.50 day top (major) / 1104.30 and 1104.70 peaks (major area) / 1106.30 day channel with GBX prices and 1107.10 minor day channel also 1108.80 weekly channel (very major area) / 1109, 1109.50, 1110.90 and 1111.40 peaks (major area) / 1113 peak and 1114.10 day channel without GBX prices (very major area) / 1116.60 day top and 1118.50 day top (major area) / 1122 day gap and 1124.30 day top (major area) / 1127.50 and 1128 day tops (major area) / 1134.20 day top and 1136.50 monthly channel (very major area).
 
Support: For the June contract -
1091.50 and 1091.30 base also 1091.10 day bottom and 1089.80 base (major area) / 1086.70 intra-day gap (major) / 1083.80, 1082.70 and 1082.30 base (major area) / 1080, 1078.30 and 1077.80 base also 1077.20 long-term major day channel (very major area) / 1075.30 day bottom and 1075.10 day bottom (major area) / 1067.80 weekly bottom and 1065.60 GBX weekly bottom (major area) / 1053 monthly bottom and 1050.80 weekly bottom on the June contract (very major area).
 
Comments:
    The whiplashing action and sell-off on Thursday from the major resistance materialized as expected but managed to close in neutral to bearish territory and slightly defensive for possible whiplashing rallies again due to the technical support that has developed on Thursday.  A trade above 1098.80 is slightly bullish and can possibly bring prices up to challenge the 1102.50 top and 1106.30 - 1108.80 major resistance but only a trade above 1114.10 or a close on Friday above 1106.10 can bring any solid bullishness back to the chart.  NOTE:  A close on Friday above 1090.10 will put the chart in neutral to slightly bullish condition for possible recovery rallies to develop in next weeks session.  A trade today below 1089.80 and 1086.70 is slightly bearish but only a trade below the 1077.20 day channel can confirm lower prices to follow.  Remain defensive inside the first trading range between 1098.80 and 1086.70.
                                        
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1097 - 1098.80 area for obj. near 1091.50 - 1089.80 area and possibly near 1086.70.  (Use a buy stop and rev. long at 1102.70).
 
Aggressive traders can sell rallies near 1106 - 1108.80 area for obj. near 1104 - 1102 area.  (Use a protective buy stop at 1111.20.  Do not rev. long).
 
Aggressive traders can attempt long positions near 1080 - 1077.20 area for obj. near 1083 - 1084.50 area and possibly near 1086.  (Use a sell stop and rev. short at 1072).  (Conservative traders can use a protective sell stop at 1076.20.  Do not rev. short).
 
Buy stop at 1102.70 for obj. near 1104.30 - 1106.30 area and possibly near 1107.10 - 1108.80 area.
Buy stop at 1119 for obj. near 1121 - 1122 gap area).
 
Sell stop at 1186 for obj. near 1184 - 1182.70 area and possibly near 1180 - 1177.20.
Sell stop at 1072 for obj. near 1068.70 - 1067.80 area and possibly near 1065.60.
Sell stop at 1062.50 for obj. near 1058.50 - 1056.50 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 05/14/04 (9:45 am est)  

The rally up to 1097 - 1098.70 put traders into short positions at 1098.  The sell-off down to 1094 seems worthy enough to consider taking profits and now completes the first trade.

Bulletin - Originally sent 05/14/04 (11:31 am est)  

The rally up to 1097 put traders into short positions again.  The sell-off down to 1194 is worthy again to take profits and complete the trade.

Results:    05/14/04

Sold @ 1098 Bought @ 1094   = + $1,000.00     
Sold @ 1097 Bought @ 1094 = + $   750.00     
Sold @ 1100 Bought @ 1094 = + $1,500.00
TOTAL (P & L)    + $3,250.00
The week in review - 05/17/04 - 05/21/04
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 05-17-04:  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 -
1094.80 and 1094.50 intra-day channel also 1095.60 intra-day channel and 1095.90 peak (major area) / 1097 peak and 1098.40 major day channel also 1098.80 day channel and 1099.80 peak (very major area) / 1101.10 minor day channel and 1101.80 day top also 1102.50 weekly top and 1103.70 day channel with GBX prices (major area) / 1104.30 peak and 1105.20 minor day channel (major area) / 1109.20 and 1110.90 peaks also 1112.40 day channel without GBX prices (very major area) / 1116.60 day top and 1118.50 day top (major area) / 1122 day gap and 1124.30 day top (major area) / 1127.50 weekly top and 1128 day top (major area) / 1134.20 day top and 1136.50 monthly channel (very major area) / 1137.90 day gap and 1138.10 GBX top (major area) / 1140.50 minor weekly channel and 1140.90 long-term major weekly channel also 1140.90 peak (very major area) / 1145.60 and 1145.90 long-term major monthly channels also 1146.20 weekly top (very major area).
 
Support: For the June contract -
1093.80 base and 1093.30 day channel (major area) / 1091 and 1090.20 base (major area) / 1087.30 day bottom (major) / 1080 long-term major weekly channel and base also 1078.20 long-term major day channel and 1078.20 and 1078 major weekly channels (very major area) / 1076.30 minor weekly channel and 1075.30 weekly bottom also 1075.10 day bottom and 1074.50 daily down channel (major area) / 1070.50 minor daily down channel and 1069 day bottom (major area) / 1067.80 weekly bottom and 1065.60 GBX weekly bottom (major area) / 1053 monthly bottom and 1050.80 weekly bottom on the June contract (very major area).
 
Comments:
    The whiplashing action on Friday managed to close slightly higher than Thursday's closing price and slightly above this weeks resistance channel at 1090.10, which removes some of the bearishness from the chart, leaving the chart in neutral and supportive position for rallies to possibly develop.  A trade above 1098.80 day channel is slightly bullish but a trade above 1103.70 and 1105.20 day channels can bring prices up to challenge the 1112.40 channel and possibly higher.  A trade below 1093.30 and 1087.30 is slightly bearish but only a trade below the 1080 and 1078.20 weekly channels can bring any solid bearishness back to the chart.  Remain defensive inside the first trading range between 1098.80 and 1087.30 and also inside the major trading range between the 1103.70 and 1105.20 resistance and 1080 - 1078.20 support areas.
                                            
Day trades:  For The June contract -
 
Aggressive traders can buy dips near 1081 - 1078 for obj. near 1085 - 1088 area and possibly near 1091.  (Use a sell stop and rev. short at 1073.70).  (Conservative traders can use a protective sell stop at 1077.  Do not rev. short).
 
Aggressive traders can sell rallies near 1097 - 1098.80 for obj. near 1094 - 1092 area.  (Use a buy stop and rev. long at 1106.70).  (Conservative traders can use a protective buy stop at 1100.30.  Do not rev. long).
 
Aggressive traders can sell rallies near 1103.70 - 1105.20 area for obj. near 1100 - 1098 area.  (Use a buy stop and rev. long at 1106.70).
 
Buy stop at 1106.70 for obj. near 1109 - 1112.40 area.
Buy stop at 1114.30 for obj. near 1116 - 1117 area and possibly near 1118.50.
 
Sell stop at 1090 for obj. near 1088 - 1087.30 area and possibly near 1086.
Sell stop at 1073.70 for obj. near 1071 - 1069 area and possibly near 1067.80.
Sell stop at 1062.50 for obj. near 1058.50 - 1056.50 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.

Results:    05/17/04

Bought @ 1080 Sold @ 1085   = + $1,250.00     
Bought @ 1081 Sold @ 1085 = + $1,000.00     
TOTAL (P & L)    + $2,250.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 05-18-04:  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 -
1085.90 intra-day channel (major) / 1088.30 peak and 1089.20 day top (major area) / 1094.70 weekly closing gap and 1095 major day channel and 1095.90 day channel (very major area) / 1097 peak and 1098 intra-day gap (major area) / 1101 day channel with GBX prices and 1101.80 day top also 1102.50 weekly top and 1103.30 minor day channel (very major area) / 1104.30 peak (major) / 1109.20 and 1110.90 peaks also 1110.80 day channel without GBX prices (very major area) / 1111.40 and 1113 peaks (major area) / 1116.60 day top and 1118.50 day top (major area) / 1122 day gap and 1124.30 day top (major area) / 1127.50 weekly top and 1128 day top (major area) / 1134.20 day top and 1136.50 monthly channel (very major area).
 
Support: For the June contract -
1083.40 intra-day channel and 1082.60 base (major area) / 1081.50 intra-day channel and 1081 base (major area) / 1079.20 long-term major day channel also 1078.20 and 1078 major weekly channels (very major area) / 1076.30 minor weekly channel and 1075.30 weekly bottom also 1075.10 day bottom and 1074.20 daily down channel (major area) / 1069 day bottom and 1068.90 minor daily down channel (major area) / 1067.80 weekly bottom and 1065.60 GBX weekly bottom (major area) / 1053 monthly bottom and 1050.80 weekly bottom on the June contract (very major area).
 
Comments:
    The sell-off of Monday managed to open the day session with a gap down below the 1090.10 channel resistance putting some bearishness back into the chart.  Monday's whiplashing action managed to hold prices at the 1078.20 daily support leaving the chart in neutral to only slightly bearish condition.  A trade below 1078.20 and 1076.30 will bring solid bearishness back into the chart for lower prices possibly challenging down near the 1067.80 and 1053 areas.  A trade today above 1095.90 is slightly bullish but only a trade above 1103.30 can bring any solid bullishness back to the chart.  Remain defensive inside the first major trading area between 1095.90 and 1079.20 and also the first neutral range between 1089.20 and 1083.40 area..
                                                
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1089.20 or buy dips near 1083.40, whichever side comes first, to complete the trade.  (Use a one point stop loss on either side.  Do not rev.).
 
Aggressive traders can sell rallies near 1093 - 1095.90 area for obj. near 1087 - 1085.90 area.  (Use a protective buy stop at 1098.90.  Do not rev. long).
 
Aggressive traders can sell rallies near 1101 - 1103.30 area for obj. near 1098 - 1095 area.  (Use a buy stop and rev. long at 1105.70).
 
Buy stop at 1105.70 for obj. near 1109 - 1101 area.
Buy stop at 1113.70 for obj. near 1115.70 - 1116.60 area and possibly near 1117.50 - 1118.50 area.
 
Sell stop at 1077.70 for obj. near 1076.30 - 1075.30 area and possibly near 1074.20.
Sell stop at 1073.70 for obj. near 1071 - 1069 area and possibly near 1067.80.
Sell stop at 1062.50 for obj. near 1058.50 - 1056.50 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 05/18/04 (2:09 pm est)   

The rally up to 1093 put traders into short positions.  The sell-off down to 1089.70 is showing signs of support for traders to consider taking profits.  Exit short positions and buy at the market, which is trading at 1090.  This completes the second trade.

Results:    05/18/04

Sold @ 1089.50 Bought @ 1090.20   = -  $   175.00     
Sold @ 1093 Bought @ 1090 = + $   750.00
Sold @ 1092.80 Bought @ 1090 = + $   700.00     
TOTAL (P & L)    + $1,275.00
 
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 05-19-04:  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 -
1091.30 intra-day channel and 1091.50 major day channel also 1091.80 intra-day gap and 1092.20 intra-day channel and 1092.50 peak (major area) / 1092.90 day channel and 1092.90 peak also 1093.80 day top and 1094.70 weekly closing gap (very major area) / 1097 peak and 1098 intra-day gap also 1098.40 day channel with GBX prices (very major area) / 1101.40 minor day channel and 1101.80 day top also 1102.50 weekly top (very major area) / 1104.30 peak (major) / 1109.10 day channel without GBX prices and 1109.20 peak also 1110.90 peak (very major area) / 1111.40 and 1113 peaks (major area) / 1116.60 day top and 1118.50 day top (major area) / 1122 day gap and 1124.30 day top (major area) / 1127.50 weekly top and 1128 day top (major area) / 1134.20 day top and 1136.50 monthly channel (very major area).
 
Support: For the June contract -
1089.30, 1088.70, and 1088.30 base area also 1087.60 day bottom (major area) / 1085.40 day gap and 1084.70 GBX bottom also 1084 intra-day channel (major area) / 1081 base and 1080.10 long-term major day channel (very major area) / 1078.50 day channel also 1078.20 and 1078 major weekly channel (very major area) / 1076.30 minor weekly channel and 1075.30 weekly bottom also 1075.10 day bottom (major area) / 1073.90 daily down channel (major) / 1069 day bottom and 1067.80 weekly bottom also 1067.30 minor daily down channel (major area) / 1065.60 GBX weekly bottom (major) / 1053 monthly bottom and 1050.80 weekly bottom on the June contract (very major area).
 
Comments:
    The narrow whiplashing action in Tuesday's session managed to close up for the day removing the slightly bearish condition leaving the chart in totally neutral territory.  The neutral condition in Tuesday's session along with the last six day of trading has developed some technical support that can possibly stimulate some rallies.  A trade above the 1091.50 and 1092.90 channels is slightly bullish but a trade above the 1101.40 channel can prove to be bullish enough to bring  prices up to challenge the 1109.10 area and possibly higher.  A trade today below the 1080.10 channel will bring the bearishness back to the chart.  A trade below the 1078 - 1076.30 channels and the 1075.30 bottom will confirm lower prices to challenge the 1067.80 and 1053 major support areas.  Remain defensive inside the first trading area between 1092.90 and 1080.10 and also between the 1101.40 - 1078 major area.
                                                    
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1191.50 - 1194.70 area or buy dips near 1084.70 - 1080.10 area, whichever side comes first to complete the trade.  (Use a buy stop and rev. long at 1095.30).  (Use a sell stop and rev. short at 1079.70).
 
Buy stop at 1095.30 for obj. near 1097 - 1098.40 area.
Buy stop at 1102.70 for obj. near 1104 - 1104.30 area.
Buy stop at 1105.70 for obj. near 1108.70 - 1109.10 area.
 
Sell stop at 1079.70 for obj. near 1078.20 - 1078 area.
Sell stop at 1077.30 for obj. near 1076.30 - 1075.30 area and possibly near 1073.90.
Sell stop at 1073 for obj. near 1070 - 1067.80 area.
Sell stop at 1062.50 for obj. near 1058.50 - 1056.50 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 05/19/04 (8:49 am est)   

The rally in the GBX session brought prices above the first trade and above the first buy stop, which will now cancel these trades.  The market is showing a channel resistance at the 1098.40 and 1101.40 area that can still be considered a selling area.  

Aggressive traders can attempt short positions near the 1098.40 - 1101.40 area for obj. near 1095 - 1093 area.  (Use a buy stop and rev. long at 1102.70).

Results:    05/19/04

Sold @ 1099 Bought @ 1102.70   = -  $   925.00  
Bought @ 1102.70 Sold @ 1104 = + $   325.00     
TOTAL (P & L)    -  $   600.00

 

A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 05-20-04:  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 -
1087.80 peak and 1088.70 intra-day channel (major area) / 1089.80 peak and 1090.70 intra-day channel (major area) / 1092 and 1092.30 peaks (major area) / 1095.70 peak and 1095.80 daily 50% retracement area also 1096 peak (very major area) / 1097.70, 1098.50 and 1098.70 peaks (major area) / 1103.10 newly developed major day channel and 1103.80 peak (very major area) / 1105.60 day top (major) / 1107.40 day channel without GBX prices (very major area) / 1109.20 and 1110.90 peaks (major area) / 1111.40 and 1113 peaks (major area) / 1116.60 and 1118.50 day tops (major area) / 1122 day gap and 1124.30 day top (major area) / 1127.50 weekly top and 1128 day top (major area) / 1134.20 day top and 1136.50 monthly channel (very major area). 
 
Support: For the June contract -
1085.40 day gap and 1084.70 GBX bottom (major area) / 1081.10 long-term major day channel also 1081 and 1080.80 base (very major area) / 1078.20 day bottom also 1078.20 and 1078 major weekly channel (very major area) / 1076.30 minor weekly channel and 1075.30 weekly bottom also 1075.10 day bottom (major area) / 1073.60 daily down channel (major area) / 1069 day bottom and 1067.80 weekly bottom (major area) / 1065.70 minor daily down channel and 1065.60 GBX weekly bottom (major area) / 1053 major monthly bottom and 1050.80 weekly bottom on the June contract (very major area).  
 
Comments:
    The rally and sell-off on Wednesday is considered a minor technical key reversal and a bearish signal.  If rallies develop near the daily 50% retracement area at 1095.80, it should be considered a good selling area.  Only a trade above the newly developed major day channel and 1103.10 can bring any bullishness back to the chart.  A trade above the 1107.40 channel can prove to be bullish enough to reverse the minor trend to the upside.  A trade today below the 1081.10 channel support is bearish and a trade below the weekly channels at 1078.20 and 1078 can prove to be bearish enough to bring prices down to challenge the 1067.80 area and possibly near the 1053 major support.  Remain defensive inside the 1095.80 and 1081.10 major trading area and also inside the first trading area between 1088.70 and 1085.40 gap area.
                                                        
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1087.80 - 1088.70 area and if possible near 1090.70 for obj. near 1085.40 - 1084.70 area.  (Use a protective buy stop at 1091.60.  Do not rev. long).
 
Aggressive traders can sell rallies near 1095 - 1095.80 area for obj. near 1090 - 1087.50 area.  (Use a buy stop and rev. long at 1104).
 
Buy stop at 1104 for obj. near 1105.60 - 1107.40 area.
Buy stop at 1114 for obj. near 1116 - 1116.60 area and possibly near 1118.50.
 
Sell stop at 1080 for obj. near 1078.20 - 1078 area.
Sell stop at 1077.30 for obj. near 1076.30 - 1075.30 area.
Sell stop at 1073 for obj. near 1069 - 1067.80 area.
Sell stop at 1062.50 for obj. near 1058.50 - 1056.50.
 

* 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:    05/20/04

Sold @ 1089.30 Bought @ 1091.60   = -  $   575.00  
Sold @ 1090.70 Bought @ 1085.40 = + $1,325.00     
TOTAL (P & L)    + $   750.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 05-21-04:  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 -
1090.60 intra-day channel and 1092 double peaks also 1092.50 day top (major area) / 1095.70 and 1096 peaks (major area) / 1097.70 and 1098.70 peaks (major area) / 1100.50 major day channel (very major area) / 1102.90 day channel and 1103.80 peaks (very major area) / 1105.60 day top and 1105.70 day channel without GBX prices (very major area) / 1109.20 and 1110.90 peaks (major area) / 1111.40 and 1113 peaks (major area) / 1116.60 and 1118.50 day tops (major area) / 1122 day gap and 1124.30 day top (major area) / 1127.50 weekly top and 1128 day top (major area) / 1134.20 day top and 1136.50 monthly channel (very major area). 
 
Support: For the June contract -
1089.60 intra-day channel and 1088.70 base (major area) / 1087.30 base and 1086.90 day channel (very major area) / 1084.70 GBX and day bottom (major area) / 1082.10 long-term major day channel and 1080.80 base (very major area) / 1078.20 day bottom also 1078.20 and 1078 major weekly channel (very major area) / 1076.30 minor weekly channel and 1075.30 weekly bottom also 1075.10 day bottom (major area) / 1073.40 daily down channel (major area) / 1069 day bottom and 1067.80 weekly bottom (major area) / 1065.60 GBX weekly bottom and 1064.10 minor daily down channel (major area) / 1053 major monthly bottom and 1050.80 weekly bottom on the June contract (very major area).  
 
Comments:
    The narrow whiplashing action on Thursday managed to close up for the day, removing the bearishness from the chart, leaving the chart in totally neutral condition again.  Traders should remain defensive inside the major trading range between 1100.50 and 1082.10 area.  Since the chart is not showing a solid direction at this time, it will be risky trading inside the first trading range between the 1090.60 - 1092.50 resistance and the 1087.30 - 1086.90 support area for today. 
 
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1090.60 - 1092.50 area or buy dips near 1087.30 - 1086.90 area, whichever side comes first, to complete the trade.  (Use a buy stop and rev long at 1093).  (Use a sell stop and rev short at 1085.90).
 
Aggressive traders can sell rallies near 1100.50 - 1102.50 area for obj. near 1096 - 1093 area.  (Use a buy stop and rev. long at 1106.80).
 
Aggressive traders can buy dips near 1082.10 - 1080.80 area for obj. near 1085 - 1086 area.  (Use a sell stop and rev. short at 1079.80).
 
Buy stop at 1093 for obj. near 1095 - 1096 area.
Buy stop at 1106.80 for obj. near 1109 - 1110.90 area.
Buy stop at 1114 for obj. near 1116 - 1116.60 area and possibly near 1118.50.
 
Sell stop at 1085.90 for obj. near 1083.90 - 1082.10 area.
Sell stop at 1079.80 for obj. near 1078 - 1076.30 area.
Sell stop at 1073 for obj. near 1069 - 1067.80 area.
Sell stop at 1062.50 for obj. near 1058.50 - 1056.50.
 

* 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:    05/21/04

Bought @ 1094 Sold @ 1095   = + $   250.00  
Sold @ 1099.50 Bought @ 1094.50 = + $1,250.00     
TOTAL (P & L)    + $1,500.00
The week in review - 05/24/03 - 05/28/04
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 05-24-04:  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 -
1093.60 Intra-day channel and 1094 peak also 1094.20 peak and 1094.60 weekly channel (major area) / 1096.70 day channel and 1098 major day channel also 1098.20 peak (very major area) / 1099.10 day channel with GBX prices and 1099.60 day channel also 1099.70 day top (very major area) / 1101.50 minor day channel (major) / 1104 day channel without GBX prices and 1105.60 weekly top (very major area) / 1108.70 minor weekly upper channel also 1109.20 and 1110.90 peaks (major area) / 1111.40 and 1113 peaks (major area) / 1116.60 and 1118.50 day tops (major area) / 1122 day gap and 1122.30 GBX top also 1124.30 day top (major area) / 1127.50 weekly top and 1128 day top (major area) / 1134.20 day top and 1136.50 monthly channel (very major area). 
 
Support: For the June contract -
1091.10 rev. channel and 1089 day bottom (major area) / 1088.70 and 1088.20 day channels also 1087.70 base (major area) / 1084.50 day bottom and 1084.20 GBX bottom also 1083 long-term major and minor day channels also 1082.90 long-term major weekly channel (very major area) / 1081.10 major and minor weekly channel and 1081 base also 1080.80 minor weekly channel (very major area) / 1078.20 weekly bottom and 1077.30 minor weekly channel (major area) / 1075.30 weekly bottom also 1075.10 day bottom (major area) / 1073.10 daily down channel (major area) / 1069 day bottom and 1067.80 weekly bottom (major area) / 1065.60 GBX weekly bottom and 1062.50 minor daily down channel (major area) / 1053 major monthly bottom and 1050.80 weekly bottom in the June contract (very major area).  
 
Comments:
    The sell-off on Friday from the major resistance proved the significance of the area.  The close on Friday was slightly higher then Thursday's close but lower then last Friday's close putting the chart in neutral to slightly bearish condition.  A trade today above the 1098 channel is slightly bullish but only a trade above the 1105.60 top and 1108.70 minor weekly channel can bring any solid bullishness back to the chart.  A trade below the 1088.70 and 1088.20 channels is slightly bearish but only a trade below the 1082.90 and 1080.80 channels can bring any solid bearishness back to the chart.  Remain defensive inside the first trading range between 1098 and 1088.20 area and also between the 1101.50 and 1082.90 trading area.
 
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1096 - 1098 area or buy dips near 1090 - 1088.20 area, whichever side comes first, to complete the trade.  (Use a buy stop and rev. long at 1099.30).  (Use a sell stop and rev short at 1087.30).
 
Aggressive traders can attempt short positions near 1101.50 - 1104 area for obj. near 1099 - 1097 area.  (Use a buy stop and rev. long at 1105.90).
 
Buy stop at 1099.30 for obj. near 1101 - 1101.50 area.
Buy stop at 1105.90 for obj. near 1108 - 1109.20 area and possibly near 1110.90 area.
Buy stop at 1113.70 for obj. near 1115.70 - 1116.60 area and possibly near 1117 - 1118.50 area.
 
Sell stop at 1087.30 for obj. near 1084.70 - 1082.90 area.
Sell stop at 1080 for obj. near 1078 - 1077.30 area.
Sell stop at 1075 for obj. near 1073.50 - 1073.10 area.
Sell stop at 1072 for obj. near 1069 - 1067.80 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 05/24/04 (9:18 am est)   

 
Since the market in the GBX session has reach the 1101.20 area, which is the resistance and still considered a selling area in the day session, the first trade of a sell a near 1096 - 1098 and the first buy stop at 1099.30 is now being cancelled.  The second trade with a sell near 1101.50 - 1104 area remains as the first trade.  

Bulletin - Originally sent 05/24/04 (10:01 am est)   

 
The rally up to 1101.50 put traders into short positions.  The sell-off down to 1099.50 is near enough to the 1099 obj. and completes the trade.

Results:    05/24/04

Sold @ 1101.50 Bought @ 1099.50   = + $   500.00  
Bought @ 1091 Sold @ 1096 = + $1,250.00     
TOTAL (P & L)    + $1,750.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 05-25-04:  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 -
1098.70 peak and 1099.40 major day channel also 1099.90 day channel (very major area) / 1100.40 minor day channel and 1101.70 day top (major area) / 1105.60 weekly top (major area) / 1108.70 minor weekly upper channel also 1109.20 peak (very major area) / 1110.90 and 1111.40 peaks (major area) / 1113 peak (major) / 1116.60 and 1118.50 day tops (major area) / 1122 day gap and 1122.30 GBX top also 1124.30 day top (major area) / 1127.50 weekly top and 1128 day top (major area) / 1134.20 day top and 1136.50 monthly channel (very major area). 
 
Support: For the June contract -
1094.40 and 1094.20 newly developed minor day channels also 1093 minor day channel (major area) / 1091 day bottom also 1090.80 and 1090.20 day channels (very major area) / 1089 day bottom (major) / 1084.50 day bottom and 1084.20 GBX bottom also 1084 long-term major day channel also 1082.90 long-term major weekly channel (very major area) / 1081.10 major and minor weekly channel and 1081 base also 1080.80 minor weekly channel (very major area) / 1078.20 weekly bottom and 1077.30 minor weekly channel (major area) / 1075.30 weekly bottom also 1075.10 day bottom (major area) / 1072.80 daily down channel (major) / 1069 day bottom and 1067.80 weekly bottom (major area) / 1065.60 GBX weekly bottom (major) / 1060.90 minor daily down channel (major) / 1053 major monthly bottom and 1050.80 weekly bottom in the June contract (very major area).  
 
Comments:
    The whiplashing action on Monday managed to close up for the day, removing the slight bearishness from the chart, leaving it in totally neutral condition again. A trade above the 1099.40 - 1099.90 channels and the 1100.40 channel is bullish but only a trade above 1108.70 will be considered a breakout for higher prices.  A trade below 1094.40 and 1090.20 channels is bearish but only a trade below the 1082.90 and 1090.90 channels will confirm the downtrend intact for lower prices to follow.  Remain defensive inside the first trading range between 1098.70 - 1099.40 resistance and 1094.40 - 1094.20 support and also between the 1100.40 and 1090.20 trading area.
   
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1098.70 - 1099.40 area and if possible near 1100.40 or buy dips near 1094.40 - 1094.20 area, whichever side comes first, to complete the trade.  (Use a buy stop and rev. long at 1102.20).  (Use a sell stop and rev. short at 1092.70).
 
Aggressive traders can buy dips near 1090.50 - 1090.20 area for obj. near 1093 - 1094 area.  (Use a sell stop and rev. short at 1088.30).
 
Buy stop at 1102.20 for obj. near 1104.20 - 1105 area.
Buy stop at 1106 for obj. near 1108 - 1108.70 area.
Buy stop at 1113.70 for obj. near 1115.70 - 1116.60 area and possibly near 1117 - 1118.50 area.
 
Sell stop at 1092.70 for obj. near 1091 - 1090.20 area.
Sell stop at 1088.30 for obj. near 1084.70 - 1082.90 area.
Sell stop at 1080 for obj. near 1078 - 1077.30 area.
Sell stop at 1075 for obj. near 1073.30 - 1072.80 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 05/25/04 (9:47 am est)   

 
The sell stop at 1092.70 was hit putting traders into short positions.  The sell-off down to 1091 meets the obj. and completes the trade.
 
Long positions were taken at the 1091 area, which is near enough to the buy area at 1090.50.  The obj. is near 1093 - 1094 area.  Use a sell stop and rev. short at 1088.30

Bulletin - Originally sent 05/25/04 (2:13 pm est)   

 
The following are the trades taken for today:
 
The first trade was the sell stop at 1092.70, meeting the obj. at 1091. 
 
The second trade, long positions were taken at 1091, meeting the obj. at 1093. 
 
The third trade, short positions were taken at 1098.70.  The sell off down to 1095 was near enough to the 1094.40 obj. and completed the trade. 
 
The fourth trade, the buy stop at 1102.20 was hit, putting traders into long positions.  The rally up to 1104.20 meets the obj. and completes the trade. 
 
The fifth trade,  the buy stop at 1106 was hit, putting traders into long positions.  The rally up to 1108 meets the obj. and completes the trade. 

Bulletin - Originally sent 05/25/04 (4:04 pm est)   

 
The buy stop at 1113.70 was hit putting traders into long positions.  The chart formation is showing signs of overbought conditions that can prevent the obj. at 1115.70 from being reached today.
 
It is recommended for traders to exit the long positions taken and sell at the market, which is trading at 1113.10 at this time, and scratch the trade.

Results:    05/25/04

Sold @ 1092.70 Bought @ 1091  = + $   425.00  
Bought @ 1091 Sold @ 1093 = + $   500.00
Sold @ 1098.70 Bought @ 1095 = + $   925.00 
Bought @ 1102.20 Sold @ 1104.20 = + $   500.00
Bought @ 1106 Sold @ 1108 = + $   500.00
Bought @ 1113.70 Sold @ 1113.10 = -  $   150.00     
TOTAL (P & L)    + $2,700.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 05-26-04:  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 -
1112.10 and 1112.80 newly developed day channel also 1113.70 day top (major area) / 1116.60 and 1118.50 day tops (major area) / 1122 day gap and 1122.30 GBX top also 1124.30 day top (major area) / 1127.50 weekly top and 1128 day top (major area) / 1134.20 day top and 1136.50 monthly channel (very major area) / 1137.90 day gap and 1138.10 GBX top also 1138.60 minor weekly channel and 1138.80 long-term major weekly channel (very major area) / 1145.60 and 1145.90 long-term major monthly channels also 1146.20 weekly top (very major area) / 1148.50 weekly top and 1150 monthly top (major area) / 1161.90 weekly channel and 1162.40 monthly channel also 1163.50 weekly chart's major top (very major area).
 
Support: For the June contract -
1111.70 and 1111.20 base also 1111.20 intra-day channel (major area) / 1106.80 and 1105.70 base area (major area) / 1100.10 and 1099.50 base area (major area) / 1095.50 and 1095 base area (major area) / 1091.90 and 1091.80 day channels also 1090 day bottom (very major area) / 1089 day bottom (major) / 1084.90 long-term major day channel also 1084.50 day bottom and 1084.20 GBX bottom (very major area) / 1082.90 long-term major weekly channel (very major area) / 1081.10 major and minor weekly channel and 1081 base also 1080.80 minor weekly channel (very major area) / 1078.20 weekly bottom and 1077.30 minor weekly channel (major area) / 1075.30 weekly bottom also 1075.10 day bottom (major area).
 
Comments:
    The rally on Tuesday from the neutral conditions brought prices above the first major resistance areas and managed to close in bullish territory.  A trade above the 1127.50 weekly top and the 1136.50 monthly channel resistance will be considered a major breakout and will put the major uptrend back into play.  A trade above the 1145.90 monthly channel will confirm the uptrend intact for higher prices.  A trade today below the 1100.10 - 1099.50 base area is slightly bearish but only a trade below the 1091.80 channel can bring any solid bearishness back to the chart.  Remain defensive inside the first trading range between 1116.60 - 1118.50 resistance and 1106.80 - 1105.70 support areas and also between the wide major range of 1127.50 - 1136.50 resistance and 1090.80 - 1090.20 support area.
       
Day trades:  For The June contract -
 
Aggressive traders can buy dips near 1107 - 1105.70 area for obj. near 1109 - 1111 area.  (Use a sell stop and rev. short at 1104.70).
 
Aggressive traders can buy dips near 1101 - 1099.50 area for obj. near 1104 - 1106 area.  (Use a sell stop and rev. short at 1097).
 
Sell stop at 1110 for obj. near 1107 - 1105.70 area.
Sell stop at 1104.70 for obj. near 1101 - 1095 area and possibly near 1091.90.
 
Buy stop at 1114. for obj. near 1116 - 1118.50 area and possibly near the 1122 gap area.
Buy stop at 1125 for obj. near 1126.50 - 1127.50 area and possibly near 1128.
Buy stop at 1130.50 for obj. near 1133.50 - 1134.30 area and possibly near 1136.50 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 05/26/04 (1:52 pm est)   

 
The buy stop at 1114 was hit, putting traders into long positions.  The rally up to 1115.80 is near enough to the 1116 obj. and completes the trade.

Results:    05/26/04

Sold @ 1110 Bought @ 1114   = -  $1,000.00  
Bought @ 1114 Sold @ 1115.80 = + $   450.00     
TOTAL (P & L)    -  $   550.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 05-27-04:  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 -
1116.80 double top and 1118.50 day top (major area) / 1122 day gap and 1122.30 GBX top also 1124.30 day top (major area) / 1127.50 weekly top and 1128 day top (major area) / 1134.20 day top and 1136.50 monthly channel also 1136.50 major day channel (very major area) / 1137.80 day channel with GBX prices and 1137.90 day gap also 1138.10 GBX top and 1138.60 minor weekly channel and 1138.80 long-term major weekly channel (very major area) / 1145.60 and 1145.90 long-term major monthly channels also 1146.20 weekly top (very major area) / 1148.50 weekly top and 1150 monthly top (major area) / 1161.90 weekly channel and 1162.40 monthly channel also 1163.50 weekly chart's major top (very major area).
 
Support: For the June contract -
1113.50 base and 1113.30 intra-day channel (major area) / 1112.30 intra-day channel and 1111.80 base (major area) / 1110.50 base and 1109.30 day bottom (major area) / 1106.80 and 1105.70 base area (major area) / 1100.10 and 1099.50 base area (major area) / 1097.30 day channel also 1095.50 and 1095 base area (major area) / 1092.50 weekly closing price and 1090.20 day bottom also 1089 day bottom (major area) / 1085.90 long-term major day channel also 1084.50 day bottom and 1084.20 GBX bottom (very major area) / 1082.90 long-term major weekly channel (very major area) / 1081.10 major and minor weekly channel and 1081 base also 1080.80 minor weekly channel (very major area) / 1078.20 weekly bottom and 1077.30 minor weekly channel (major area) / 1075.30 weekly bottom also 1075.10 day bottom (major area).
 
Comments:
    The whiplashing action on Wednesday managed to close up for the fifth day in a row leaving the chart in bullish territory again.  The market is now faced with the major resistance at 1127.50, 1136.50 and 1138.80 areas, which can prove to be significant enough to stimulate some selling pressure for retracements to develop.  A trade above 1136.50 and 1138.80 will be considered a breakout for higher prices.  A trade above 1145.60 - 1145.90 area will confirm the major uptrend back into play.  A trade today below 1105.70 and 1100.10 area is slightly bearish but only a trade below 1097.30 can bring any solid bearishness back to the chart.  Remain defensive inside the first trade range between 1122 gap and 1112.30 area.  
           
Day trades:  For The June contract -
 
Aggressive traders can buy dips near 1113.30 - 1112.30 area for obj. near 1117.50 - 1118.50 area.  (Use a sell stop and rev. short at 1109).
 
Aggressive traders can buy dips near 1100.10 - 1097.30 area for obj. near 1104 - 1106 area.  (Use a sell stop and rev. short at 1094).
 
Sell stop at 1109 for obj. near 1107 - 1105.70 area.
Sell stop at 1104.70 for obj. near 1101.70 - 1100.10 area.
Sell stop at 1094 for. obj. near 1092.50 - 1090 area.
 
Buy stop at 1120 for obj. near 1122 - 1122.70 area.
Buy stop at 1125.30 for obj. near 1127 - 1128 area.
Buy stop at 1130 for obj. near 1132 - 1134.30 area and possibly near 1136.50 area.
 
Aggressive traders can attempt short potions near 1134 - 1136.50 area for obj. near 1130 - 1128 area and possibly near 1125.  (Use a protective buy stop at 1140.  Do not rev. long).
 

* 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 05/27/04 (10:02 am est)   

 
The buy stop at 1120 was hit, putting traders into long positions.  The rally up to 1121.80 is near enough to the 1122 obj. and completes the trade.

Bulletin - Originally sent 05/27/04 (11:17 am est)   

 
The first aggressive trade to buy dips near 1113.30 - 1112.30 area is now being cancelled because of the rally above the 1120 area and the chart formation at this time.

Results:    05/27/04 

Bought @ 1120 Sold @ 1121.80 = + $   450.00     
TOTAL (P & L)    + $   450.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 05-28-04:  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 -
1123.30 peak and 1124.20 day top also 1124.30 day top (major area) / 1127.50 weekly top and 1128 day top also 1129.50 daily upper channel (major area) / 1134.20 day top and 1136.10 major day channel also 1136.50 monthly channel (very major area) / 1137.50 day channel with GBX prices and 1137.90 day gap also 1138.10 GBX top and 1138.60 minor weekly channel and 1138.80 long-term major weekly channel (very major area) / 1145.60 and 1145.90 long-term major monthly channels also 1146.20 weekly top (very major area) / 1148.50 weekly top and 1150 monthly top (major area) / 1161.90 weekly channel and 1162.40 monthly channel also 1163.50 weekly chart's major top (very major area).
 
Support: For the June contract -
1121.20 and 1120 intra-day channels and 1120 base also 1119.70 newly developed minor day channel (major area) / 1117.50 base and 1116.50 intra-day channel (major area) / 1115.10 base and 1115 intra-day channel also 1114.50 day bottom (very major area) / 1111.80 and 1110.50 base also 1109.30 day bottom (major area) / 1105.70 base (major) / 1100.10 base and 1099.70 and 1099.20 day channel (very major area) / 1095 base (major) / 1090 and 1089 day bottom (major area) / 1086.90 long-term major day channel (very major area) / 1084.50 day bottom and 1084.20 GBX bottom (major area) / 1082.90 long-term major weekly channel (very major area) / 1081.10 major and minor weekly channel and 1081 base also 1080.80 minor weekly channel (very major area) / 1078.20 weekly bottom and 1077.30 minor weekly channel (major area) / 1075.30 weekly bottom also 1075.10 day bottom (major area).
 
Comments:
    The rally on Thursday managed to close up for the sixth day in a row and continues to leave the chart in bullish condition but faces major resistance.  A trade above 1127.50 - 1129.50 area can bring prices up to challenge the 1136.50 monthly channel and possibly near the 1138.80 major weekly channel, which technically can prove to stimulate some selling for a possible retracement near the 1105.70 - 1101 area, which is the 50% retracement area on the daily chart.  A trade above 1145.90 will confirm the major uptrend back into play.  A trade today below 1114.50 is slightly bearish but only a trade below 1099.20 can bring any solid bearishness back to the chart.  Remain defensive inside the first trading range between 1127.50 and 1119.70 area and also between the major range of 1136.50 and 1099.20 area.
               
Day trades:  For The June contract -
 
Aggressive traders can buy dips near 1121.50 - 1119.70 area or sell rallies near 1123 - 1124.30 area, whichever side comes first to complete the trade.  (Use a sell stop and rev. short at 1119).  (Use a buy stop and rev. long at 1125.70).
 
Aggressive traders can attempt short positions near 1136.50 - 1137.50 area and if possible near 1138.80 for obj. near 1131 - 1129 area and possibly near 1125.50.  (Use a protective buy stop at 1141.70.  Do not rev. long).
 
Sell stop at 1119 for obj. near 1117.50 - 1116.50 area and possibly near 1115.
Sell stop at 1113.70 for obj. near 1112 - 1110 area.
Sell stop at 1109 for obj. near 1106 - 1105.70 and possibly near 1103 - 1101 area.
 
Buy stop at 1125.70 for obj. near 1127 - 1129.50 area.
Buy stop at 1130.50 for obj. near 1134 - 1136.50 area.
Buy stop at 1151.50 for obj. near 1155 - 1158 area and possibly near 1161.60.
 

* 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 05/28/04 (8:50 am est)   

 
Because of the fact that the overnight session traded at 1118.90, the sell stop at 1119 is being changed to 1118.50.  The sell stop at 1119 is found in the first aggressive trade and the first listed sell stop. 

Bulletin - Originally sent 05/28/04 (11:02 am est)   

 
The sell stop at 1118.50 was hit, putting traders into short positions.  The sell off down to 1117.50 meets the obj. and completes the trade.

Results:    05/28/04

Bought @ 1120 Sold @ 1118.50   = -  $   375.00  
Sold @ 1118.50 Bought @ 1117.50 = + $   250.00
Bought @ 1117.50 Sold @ 1123 = + $1,350.00
Sold @ 1123 Bought @ 1120.00 = + $   750.00     
TOTAL (P & L)    + $1,975.00

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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