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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 - 06/01/04 - 06/04/04
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 06-01-04:  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the June contract -
1122.40 and 1123.60 minor day channels also 1123 day top and 1123 monthly channel also 1123.10 minor weekly channel and 1123.60 day channel and GBX top (very major area) / 1124.20 weekly top and 1124.30 day top (major area) / 1127.50 weekly top and 1128 day top (major area) / 1134.20 day top and 1135.20 major day channel also 1136.60 long-term major monthly channel and 1136.80 long-term major weekly channel (very major area) / 1137.90 day gap and 1138.10 GBX top also 1138.90 minor day channel (major area) / 1146.20 weekly top and 1148.50 day top also 1150 weekly top and GBX weekly top (very major area) / 1158.70 day top and 1161.80 monthly channel also 1161.80 weekly channel (very major area) / 1162.50 weekly to and 1163.50 weekly chart's top (major area) / 1176.30 and 1177.90 minor monthly upper channels (major area).
 
Support: For the June contract -
1119.30 intra-day channel and 1119.10 base (major area) / 1118.30 base and 1117.50 intra-day channel also 1117.50 day bottom (very major area) / 1115.10 base and 1114.50 day bottom (major area) / 1111.80 base and 1110.50 base (major area) / 1109.30 day bottom (very major area) / 1105.70 base (major) / 1100.10 base and 1099.70 day channel also 1099.20 day channel (major area) / 1095.80 long-term major monthly channel and 1094.70 weekly closing price (very major area) / 1092.50 weekly closing price also 1090 weekly bottom and 1089 day bottom also 1088.80 long-term major day channel and 1088.30 monthly channel (very major area) / 1087.50 long-term major weekly channel and 1086.50 monthly channel (very major area) / 1084.20 GBX bottom and 1084 major weekly channel also 1083.50 weekly channel and 1082.80 minor monthly channel (major area) / 1078.30 minor weekly channel and 1078.20 weekly bottom (major area) / 1075.30 weekly bottom and 1075.10 day bottom (very major area).
 
Comments:
    Even with the bullish condition, Friday's narrow trading range managed to close down on the day from Thursday's close.  Because of the fact that 1123 is this weeks monthly channel resistance it can stimulate some selling pressure for retracements to the downside.  A trade above 1123 - 1123.60 area is bullish and can bring prices up to challenge near the 1136.60 and 1137.10 major resistance areas.  A trade above 1136.60 - 1137.10 will be considered a breakout for higher prices.  A trade below 1109.30 is slightly bearish but only a trade below 1099.20 - 1095.80 area can bring any solid bearishness back to the chart.  Remain defensive inside the first narrow trading range between 1123.60 - 1119.30 area.
                   
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1122 - 1123.60 area or buy dips near 1120 - 1119.10 area, whichever side comes first to complete the trade.  (Use a buy stop and rev. long at 1126).  (Use a sell stop and rev. short at 1117).
 
Buy stop at 1126 for obj. near 1127.50 - 1128 area.
Buy stop at 1131 for obj. near 1133.70 - 1135.20 area and possibly near 1136.60.
Buy stop at 1140.70 for obj. near 1143.70 - 1146.20 top area.
 
Sell stop at 1117 for obj. near 1115.10 - 1114.50 area and possibly near 1113.
Sell stop at 1111.70 for obj. near 1109.70 - 1109.30 area.
Sell stop at 1108 for obj. near 1106 - 1105.70 area.
 

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

Bulletin - Originally sent 06/01/04 (9:55 am est)

Long positions were taken on the open at 1118.30, which was at the low end of the buy area but still above the 1117 sell stop.  The rally up to 1120.30 is near enough to the 1122 obj. for traders to consider taking profits and complete the trade.

Bulletin - Originally sent 06/01/04 (10:04 am est)

The rally up to 1122.50 put traders into short positions inside the sell area.  The obj. still remains at 1120 and continue to use a buy stop and rev long at 1126.

Bulletin - Originally sent 06/01/04 (10:09 am est)

Short positions were taken at 1122.  The sell-off down to 1120.20 is near enough to the 1120 obj. and completes the trade.

Bulletin - Originally sent 06/01/04 (10:15 am est)

Since the resistance at 1123 is so significant short positions are being taken again at 1122.  The obj. remains at the 1120 - 1119.10 area.  Continue to use a buy stop and rev long at 1126.

Bulletin - Originally sent 06/01/04 (10:17 am est)

Short positions were taken again at 1122.  The sell-off down to 1120 meets the obj. and completes the trade.

Bulletin - Originally sent 06/01/04 (12:07 pm est)

The sell stop at 1117 was hit putting traders into short positions.  The sell-off down to 1114.70 meets the obj. and completes the trade.

Results:    06/01/04

Bought @ 1118.30 Sold @ 1120.30   = + $   500.00  
Sold @ 1122 Bought @ 1120.50 = + $   375.00
Bought @ 1120.50 Sold @ 1122 = + $   375.00
Sold @ 1122 Bought @ 1120 = + $   500.00
Sold @ 1117 Bought @ 1115 = + $   500.00     
TOTAL (P & L)    + $2,250.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 06-02-04:  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the June contract -
1122 newly developed day channel and 1122.50 day top and minor day channel also 1122.90 GBX top and 1123 monthly channel also 1123 day top and 1123.10 minor weekly channel and 1123.40 minor day channel (very major area) / 1124.20 weekly top and 1124.30 day top (major area) / 1127.50 weekly top and 1128 day top (major area) / 1134.20 day top and 1134.70 major day channel also 1136.60 long-term major monthly channel and 1136.80 long-term major weekly channel (very major area) / 1137.90 day gap and 1138.10 GBX top also 1138.60 minor day channel (major area) / 1146.20 weekly top and 1148.50 day top also 1150 weekly top and GBX weekly top (very major area) / 1158.70 day top and 1161.80 monthly channel also 1161.80 weekly channel (very major area).
 
Support: For the June contract -
1118.60 intra-day channel and 1118.50 intra-day gap also 1117 newly developed day channel (very major area) / 1114.60 base (major) / 1113.30 minor day channel and base also 1112.50 day bottom and 1111.80 base (major area) / 1110.50 base and 1109.30 day bottom (major area) / 1105.70 and 1104.70 base (major area) / 1101.60 and 1101 day channels also 1100.10 base (very major area) / 1095.80 long-term major monthly channel and 1094.70 weekly closing price (very major area) / 1092.50 weekly closing price (major) / 1090 weekly bottom and 1089.70 long-term major day channel also 1089 day bottom and 1088.30 monthly channel (very major area) / 1087.50 long-term major weekly channel and 1086.50 monthly channel (very major area) / 1084.20 GBX bottom and 1084 major weekly channel also 1083.50 weekly channel and 1082.80 minor monthly channel (major area) / 1078.30 minor weekly channel and 1078.20 weekly bottom (major area) / 1075.30 weekly bottom and 1075.10 day bottom (very major area).
 
Comments:
    The whiplashing action on Tuesday continued to prove the significance of the 1123 monthly channel resistance, leaving the chart neutral and defensive for possible retracements to the downside again.  Even after the rally from the support area on Tuesday, the 1123 resistance held strong.  A trade today above 1122.50 and 1123.40 areas are bullish and can bring prices up to challenge near the 1134.70 - 1136.60 major resistance area.  A trade today below 1117 is slightly bearish but a trade below 1101.60 - 1101 area can bring solid bearishness back to the chart.  Remain defensive inside the 1122 - 1122.50 and 1123 - 1123.40 resistance areas also 1118.60 and 1117 support areas. 
                       
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1121.50 - 1122.50 area and if possible near 1123.40 for obj. near 1119 - 1118.60 and possibly near 1117.  (Use a buy stop and rev. long at 1125).
 
Buy stop at 1125 for obj. near 1127 - 1128 area.
Buy stop at 1131 for obj. near 1133.70 - 1134.70 area and possibly near 1136.60.
Buy stop at 1140.70 for obj. near 1143.70 - 1146.20 top area.
 
Sell stop at 1116 for obj. near 1114 - 1112.50 bottom area.
Sell stop at 1111.70 for obj. near 1109.70 - 1109.30 area.
Sell stop at 1108 for obj. near 1106 - 1105.70 area and possibly near 1104.70 area.
 

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

Bulletin - Originally sent 06/02/04 (10:15 am est)

Short positions were taken on the opening at 1124.20.  The sell off down to 1119.70 is near enough to the 1119 obj. and completes the trade.

Bulletin - Originally sent 06/02/04 (2:31 pm est)

The buy stop at 1125 was hit putting traders into long positions.  The rally up to 1127 meets the obj. and completes the trade.

Results:    06/02/04

Sold @ 1124.20 Bought @ 1119.70   = + $1,125.00  
Bought @ 1125 Sold @ 1127 = + $   500.00     
TOTAL (P & L)    + $1,625.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 06-03-04:  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 -
1126 peak and 1126.30 intra-day channel (major area) / 1127 and 1127.30 peaks also 1127.50 newly developed day channel (very major area) / 1127.70 peak and 1128.20 day top (major area) / 1134.20 day top and 1134.30 major day channel also 1135.90 day channel with GBX prices and 1136.60 long-term major monthly channel also 1136.80 long-term major weekly channel (very major area) / 1137.90 day gap and 1138.10 GBX top also 1138.30 minor day channel (major area) / 1146.20 weekly top and 1148.50 day top also 1150 weekly top and GBX weekly top (very major area) / 1158.70 day top and 1161.80 monthly channel also 1161.80 weekly channel (very major area).
 
Support: For the June contract -
1124.30 base and 1123.90 newly developed day channel also 1123.50 intra-day channel (major area) / 1121.70 and 1121.50 base also 1121.50 day channel (very major area) / 1120 and 1119.50 base also 1118.20 day bottom (major area) / 1114.60 base and 1114.10 minor day channel (very major area) / 1113.30 base and 1112.50 day bottom also 1111.80 base (major area) / 1109.30 day bottom (major) / 1105.70 and 1104.70 base (major area) / 1103.50 and 1102.80 day channel (very major area) / 1100.10 base (major) / 1095.80 long-term major monthly channel and 1094.70 weekly closing price (very major area) / 1092.50 weekly closing price (major) / 1090.70 long-term major day channel and 1090 weekly bottom also 1089 day bottom and 1088.30 monthly channel (very major area) / 1087.50 long-term major weekly channel and 1086.50 monthly channel (very major area) / 1084.20 GBX bottom and 1084 major weekly channel also 1083.50 weekly channel and 1082.80 minor monthly channel (major area).
 
Comments:
    The follow-through rally on Wednesday seems bullish except for the fact that the market now faces the 1134.70 and 1136.60 major channels, which can prove to be a significant enough resistance to hold back any further rallies for a while.  A trade above 1136.60 - 1136.80 area will be considered a breakout for higher prices.  A trade today below the 1121.50 channel is slightly bearish but a trade below the 1118.20 day bottom and also below the 1114.10 day channel is bearish enough to bring prices down to challenge the 1103.50 and 1102.80 day channels and possibly near the 1095.80 major monthly channel.   Remain defensive inside the first trading range between 1126.30 - 1123.50 and also between 1127.50 and 1121.50 area.  The very major trading range is between 1136.60 and 1095.80.   
                       
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1126 - 1127.50 area for obj. near 1123.90 - 1123.50 and possibly near 1121.50.  (Use a buy stop and rev. long at 1128.50).
 
Aggressive traders can buy  dips near 1121.50 - 1118.20 area for obj. near 1123 - 1124.50 area.  (Use a sell stop and rev. short at 1117.30).
 
Aggressive traders can sell rallies near 1135.90 - 1136.60 if it gets there for obj. near 1129 - 1126 area and possibly near 1124.  (Use a buy stop and rev. long at 1139.70).
 
Buy stop at 1130.50 for obj. near 1132.50 - 1134.20 area and possibly near 1135.90 - 1136.60 area.
Buy stop at 1139.70 for obj. near 1143 - 1145 area.
Sell stop at 1117.30 for obj. near 1115 - 1114.10 area.
Sell stop at 1111.70 for obj. near 1109.70 - 1109.30 area.
Sell stop at 1108 for obj. near 1105.70 - 1104.70 area and possibly near 1103.50 - 1102.80 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 06/03/04 (9:02 am est)

The trading range in the GBX session brought prices down below the 1118.20 bottom, which now brings the technical support to a slightly lower area for the day session. 

It is recommended for traders to adjust the sell stop listed in the second trade and also in the first sell stop listed.  Cancel the sell stop at 1117.30 and use a sell stop at 1116.50.  The trade will now read - (sell stop and rev. short at 1116.50 for obj. near 1115 - 1114.10 area).

Bulletin - Originally sent 06/03/04 (10:37 am est)

Long positions were taken on the opening at 1121.50 and on the sell off at 1119.  The rally up to 1122.80 is near enough to the 1123 obj. and completes the trade for both long positions.

Results:    06/03/04

Bought @ 1121.50 Sold @ 1122.50   = + $   250.00  
Bought @ 1119 Sold @ 1122.50 = + $   875.00
Sold @ 1125 Bought @ 1123.50 = + $   375.00
Sold @ 1116.50 Bought @ 1115 = + $   375.00     
TOTAL (P & L)    + $1,875.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 06-04-04:  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 -
1116.20 peak and 1116.30 intra-day channel (major area) / 1119.20 intra-day channel and peak (major area) / 1121.30 peak and 1121.80 minor day channel also 1122.50 intra-day channel (very major area) / 1123 peak and 1123.40 minor day channel with GBX prices (major area) / 1125 day top and 1125.40 day gap also 1125.80 GBX top (major area) / 1126.80 day channel also 1127 and 1127.30 peaks and 1128.20 day top (very major area) / 1133.90 major day channel and 1134.20 day top also 1135.50 day channel with GBX prices and 1136.60 long-term major monthly channel also 1136.80 long-term major weekly channel (very major area) / 1137.90 day gap and 1138 minor day channel also 1138.10 GBX top (major area) / 1146.20 weekly top and 1148.50 day top also 1150 weekly top and 1150 GBX weekly top (very major area) / 1158.70 day top and 1161.80 monthly channel also 1161.80 weekly channel (very major area).
 
Support: For the June contract -
1114.90 minor day channel and closing price also 1114.50 day bottom (very major area) / 1112.50 day bottom and 1111.80 base (major area) / 1109.30 day bottom (major) / 1105.70 base and 1105.50 day channel also 1104.70 base and 1104.60 day channel (very major area) / 1100.10 base (major) / 1095.80 long-term major monthly channel and 1094.70 weekly closing price (very major area) / 1092.50 weekly closing price and 1091.60 long-term major day channel also 1090 weekly bottom (very major area) / 1089 day bottom and 1088.30 monthly channel (very major area) / 1087.50 long-term major weekly channel and 1086.50 monthly channel (very major area) / 1084.20 GBX bottom and 1084 major weekly channel also 1083.50 weekly channel and 1082.80 minor monthly channel (major area).
 
Comments:   
    The sell-off on Thursday from the resistance area managed to close below the last five days closing prices, which is technically a minor key reversal and slightly bearish; but because prices held above the 1114.10 support, which moves up to 1114.90 for Friday, keeps the chart in neutral condition.  A trade below 1114.90 - 1114.50 area is slightly bearish and can bring prices down to challenge the 1105.50 - 1104.60 support channels and possibly near the 1095.70 major support.  A trade above 1121.80 and 1123.40 channels is slightly bullish but only a trade above 1136.60 can prove to bring the uptrend back into play.  Remain defensive inside the first trading range between 1119.20 and 1114.90 area and also between 1123.40 and 1109.30 area.  The very major trading range remains between 1136.60 and 1095.80.
                       
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1119 - 1121.80 area or buy dips near 1115.50 - 1114.90 area, whichever side comes first, to complete the trade.  (Use a protective buy stop at 1124.  Do not rev. long).  (Use a sell stop and rev. short at 1114).
 
Aggressive traders can sell rallies near 1134 - 1136.60 area, if it gets there, for obj. near 1129 - 1126 area and possibly near 1124.  (Use a buy stop and rev. long at 1139.70).
 
Buy stop at 1128.70 for obj. near 1132 - 1134 area and possibly near 1136.60.
Buy stop at 1139.70 for obj. near 1143 - 1146 area.
Sell stop at 1114 for obj. near 1112 - 1109.30 area.
Sell stop at 1108 for obj. near 1106 - 1104.60 area.
Sell stop at 1103 for obj. near 1100.50 1099 and possibly near 1097.
 

* 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 06/04/04 (1:23 pm est)

The buy stop at 1128.70 was hit, putting traders into long positions.  The market is showing signs of resistance at the 1129.70 that can prevent the obj. of 1132 from being met.  

It is recommended for traders to exit the long position at the market, which is trading at 1127.50 at this time and cut losses.

Results:    06/04/04

Sold @ 1123.70 Bought @ 1124   = -  $     75.00  
Bought @ 1128.70 Sold @ 1127.70 = -  $   250.00     
TOTAL (P & L)    -  $   325.00
The week in review - 06/07/04 - 6/11/04
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 06-07-04:  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 -
1125.90 Intra-day channel and 1126.20 newly developed weekly channel (major area) / 1127, 1127.50 and 1127.70 peaks (major area) / 1128.90 newly developed day channel and 1129.50 weekly top (very major area) / 1130.20 and 1131.20 daily upper channels (major area) / 1133.20 major weekly channel and 1133.40 major day channel also 1134.20 day top and 1134.70 long-term major weekly channel (very major area) / 1135.20 day channel with GBX prices and 1136.60 long-term major monthly channel (very major area) / 1137.70 day channel and 1137.90 day gap also 1138.10 GBX top (major area) / 1146.20 weekly top and 1148.50 day top also 1150 weekly top and 1150 GBX weekly top (very major area) / 1158.70 day top (major area) / 1161.80 monthly channel also 1162.50 weekly top and 1163.50 weekly chart's top (very major area) / 1176.30 and 1177.90 minor monthly upper channels (major area). 
 
Support: For the June contract -
1122.50 intra-day channel and 1121.50 day channel without GBX prices also 1121.50 base (major area) / 1120.80 intra-day channel and 1120.60 day bottom (major area) / 1118.70 day channel with GBX prices (major area) / 1116.50 and 1115.70 minor day channels also 1115.50 GBX bottom (major area) / 1114.90 day gap and 1114.50 day bottom also 1113.60 minor weekly channel (very major area) / 1112.50 day bottom and 1111.80 base (major area) / 1109.30 day bottom (major) / 1107.40 and 1106.50 day channels (very major area) / 1095.80 long-term major monthly channel (very major area) / 1092.60 long-term day channel and 1092.20 long-term major weekly channel (very major area) /  1090 weekly bottom (major) / 1088.30 monthly channel and 1087 major weekly channel also 1086.20 weekly channel (very major area) / 1084.50 day bottom and 1084.20 GBX bottom (major area) / 1079.30 minor weekly channel and 1078.20 weekly bottom (very major area) / 1075.30 major weekly bottom (major area).
 
Comments:   
    The whiplashing action on Friday managed to close up for the week but below the major resistances leaving the chart neutral and defensive for retracements and swings in prices in either direction.  A trade above 1128.90 - 1129.50 area is slightly bullish but a trade above 1133.20 - 1134.70 can bring solid bullishness to the chart.  A trade above 1136.60 will be considered a breakout for higher prices.  A trade below 1121.50 - 1118.70 area is slightly bearish but a trade below 1115.70 - 1113.60 area can bring price down to challenge the 1107.40 - 1106.50 area and possibly near the 1095.80 major monthly support.  Remain defensive inside the first trading range between 1126.20 - 1128.90 resistance and 1121.50 - 1118.70 support.           
                
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1125.90 - 1127 area and if possible near 1128.90 for obj. near 1123 - 1121.50 area.  (Use a protective buy stop at 1129.80.  Do not rev. long).
 
Aggressive traders can sell rallies near 1133 - 1134.70 area and if possible near 1136.60 for obj. near 1129.50 - 1127 area and possibly near 1125.90.  (Use a buy stop and rev. long at 1139.70).
 
Buy stop at 1139.70 for obj near 1143 - 1145 area.
Buy stop at 1153 for obj. near 1156 - 1158 area.
 
Sell stop at 1121 for obj. near 1119 - 1118.70 area.
Sell stop at 1111.70 for obj. near 1109.30 and possibly near 1107.40 - 1106.50 area.
Sell stop at 1103.50 for obj. near 1098.80 - 1095.80 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 06/07/04 (9:10 am est)

The GBX session made a high of 1131, which is above the 1129.80 protective stop in the first trade.  Because of the technical formation and the resistance at 1130.20 - 1131.20 daily upper channel, aggressive traders can still sell on the opening and now use a protective buy stop at 1131.50.       

Bulletin - Originally sent 06/07/04 (3:48 pm est)

Short positions should continue to use a buy stop at 1139.70 but the technical formation is not worthy of going long at this time.  Cancel the buy stop for long positions at 1139.70.

Results:    06/07/04

Sold @ 1128 Bought @ 1131.50   = -  $   875.00  
Sold @ 1133 Bought @ 1139.70 = -  $1,675.00
Sold @ 1136 Bought @ 1139.70 = -  $   925.00     
TOTAL (P & L)    -  $3,465.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 06-08-04:  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the June contract -
1141 peak and intra-day gap also 1141 intra-day channel also 1141.40 and 1141.50 newly developed day channels (major area) / 1146.20 weekly top and 1148.40 weekly channel also 1148.50 day top and 1150 weekly top and 1150 GBX weekly top (very major area) / 1158.70 day top (major area) / 1161.80 monthly channel also 1162.50 weekly top and 1163.50 weekly chart's top (very major area) / 1176.30 and 1177.90 minor monthly upper channel (major area).
 
Support: For the June contract -
1139 intra-day channel and 1138.70 base (major area) / 1135 day channel without GBX prices and 1134.70 base (very major area) / 1132.50 and 1132.30 base (major area) / 1130.10 GBX channel also 1129.80 and 1129.30 base (major area) / 1128 intra-day channel and 1127.80 day bottom (very major area) / 1125 day channel without GBX prices (major area) / 1123.20 weekly closing gap and 1121.90 day channel with GBX prices (very major area) / 1120.60 day bottom (major) / 1117.50 and 1116.50 minor day channels (major area) / 1115.50 GBX bottom and 1114.90 day gap also 1114.50 day bottom also 1113.60 minor weekly channel (very major area) / 1112.50 day bottom and 1111.80 base (major area) / 1109.30 day bottom and 1109.30 day channel also 1108.30 day channel without GBX prices (very major area) / 1095.80 long-term major monthly channel (very major area) / 1093.60 long-term major day channel and 1092.20 long-term major weekly channel (very major area).
 
Comments:   
    The rally on Monday brought prices above the very major resistances, leaving the chart in bullish territory, facing only the 1146.20 weekly top and 1148.40 weekly channel.  A trade above these areas will confirm the major uptrend back into play.  A trade below 1135 - 1134.70 area is slightly bearish but only a trade below 1121.90 can bring any solid bearishness back to the chart.  Remain defensive inside the first trading range between 1146.20 - 1135 area and also between 1148.40 - 1128 area.
                      
Day trades:  For The June contract -
 
Aggressive traders can buy dips near 1135.50 - 1135 area for obj. near 1138.50 - 1139 area.  (Use a sell stop and rev short at 1134).
 
Aggressive traders can sell rallies near 1146 - 1148.40 area for obj. near 1143 - 1141 area.  (Use a buy stop and rev. long at 1152.50).
 
Buy stop at 1152.50 for obj. near 1156 - 1158 area and possibly near 1161.
 
Sell stop at 1134 for obj. near 1131.50 - 1130.10 area and possibly near 1128.
Sell stop at 1127 for obj. near 1125.50 - 1125 area and possibly near 1123.20 gap.  
 

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

Bulletin - Originally sent 06/08/04 (9:50 am est) 

The sell-off down to 1136.10 is near enough to the 1135.50 buy area, putting traders into long positions.  The rally up to 1138.20 is near enough to the 1138.50 obj. and completes the trade.

Results:    06/08/04

Bought @ 1136.50 Sold @ 1138.10   = + $   400.00  
Bought @ 1135.70 Sold @ 1138.50 = + $   700.00     
TOTAL (P & L)    + $1,100.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 06-09-04:  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the June contract -
1142.90 newly developed day channel and 1143 day top (major area) / 1144.30 minor daily upper channel (major) / 1146.20 weekly top and 1148.40 weekly channel also 1148.50 day top and 1150 weekly top (very major area) / 1158.70 day top (major area) / 1161.80 monthly channel also 1162.50 weekly top and 1163.50 weekly chart's top (very major area) / 1176.30 and 1177.90 minor monthly upper channels (major area).
 
Support: For the June contract -
1142.20 minor day channel (major area) / 1137.50 base and 1137.40 GBX channel (very major area) / 1136.60 base and 1135.50 day bottom (major area) / 1132.30 base (major) / 1128.50 day channel and 1127.80 day bottom (very major area) / 1125 day channel with GBX prices and 1123.20 weekly closing gap (very major area) / 1120.60 day bottom (major) / 1118.50 and 1117.30 minor day channels (major area) / 1115.50 GBX bottom and 1114.90 day gap also 1114.50 day bottom and 1113.60 minor weekly channel (very major area) / 1112.50 day bottom and 1111.80 base also 1111.30 minor day channel (major area) / 1110.20 minor day channel and 1109.30 day bottom (major area) / 1105 rev. peak (major area) / 1095.80 long-term major monthly channel and 1094.50 long-term major day channel (very major area).
 
Comments:  
    The follow-through rally on Tuesday from the support area proved the bullishness in the chart but the market continues to face the 1146.20 major top and 1148.40 weekly channel that can possibly hold back rallies for a while.  A trade above 1146.20 and 1148.40 area will confirm the uptrend back into play for higher prices.  A trade above 1161.80 monthly channel and 1163.50 major weekly top can bring prices up to challenge the 1176.30 - 1177.90 area.  A trade today below 1137.40 can bring prices down to challenge the 1128.50 channel and possibly near 1125.  A trade today below 1125 is bearish and can bring prices down to challenge the 1118.50 - 1117.30 area and possibly near 1111.30.  Only a trade below 1125 can bring any solid bearishness back to the chart but only a trade below 1095.80 will reverse the trend to the downside.  Remain defensive inside the first narrow trading range between 1144.30 - 1137.40 area and also between the major range between 1148.40 - 1128.50 area. 
                          
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1144.30 - 1146 area and if possible near 1148.40 for obj. near 1142.20 - 1140.80 area.  (Use a buy stop and rev. long at 1151.70).
 
Aggressive traders can buy dips near 1138.50 - 1137.40 area for obj. near 1140.80 - 1142.20 area.  (Use a sell stop and rev. short at 1134.30).
 
Aggressive traders can buy dips near 1128.50 - 1125 area for obj. near 1131 - 1132.30 area and possibly near 1134.  (Use a sell stop and rev. short at 1122).
 
Buy stop at 1151.70 for obj. near 1154 - 1158 area and possibly near 1161.
Buy stop at 1166.50 for obj. near 1170 - 1173 area and possibly near 1176.30.
 
Sell stop at 1134.30 for obj. near 1132.30 - 1128.50 area.
Sell stop at 1122 for obj. near 1120 - 1118.50 area and possibly near 1117.30.
Sell stop at 1116.30 for obj. near 1114.90 gap - 1113.60 area.
 

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

Bulletin - Originally sent 06/09/04 (9:44 am est) 

Long positions were taken at 1138.50.  The rally up to 1140.30 is near enough to the 1140.80 obj. and completes the trade.

Bulletin - Originally sent 06/09/04 (1:01 pm est) 

The sell stop was hit at 1134.30 putting traders into short positions.  The market is showing signs of support at the 1134.10 - 1134.70 area that can prevent the obj. at 1132.30 from being hit. 

It is recommended for traders to exit the short positions at the market, which is trading at 1135.90 at this time, and cut losses.

Results:    06/09/04

Bought @ 1138.50 Sold @ 1140.30   = + $   450.00  
Sold @ 1134.30 Bought @ 1135.90 = -  $   400.00     
TOTAL (P & L)    + $     50.00 
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 06-10-04:  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 -
1133.40 and 1133.50 peaks also 1133.50 and 1134 intra-day channels (major area) / 1135 intra-day channel and 1135.80 peak (major area) / 1136.50 and 1136.90 peaks also 1137.60 minor day channel (very major area) / 1139 and 1140 peaks also 1140.30 day top (major area) / 1142.10 day gap and 1142.40 day channel also 1142.80 minor day channel and 1143 day top (very major area) / 1146.20 weekly top and 1148.40 weekly channel also 1148.50 day top and 1150 weekly top (very major area) / 1158.70 day top (major area) / 1161.80 monthly channel also 1162.50 weekly top and 1163.50 weekly chart's top (very major area) / 1176.30 and 1177.90 minor monthly upper channels (major area).
 
Support: For the June contract -
1128.20 day channel with GBX prices and 1127.80 day bottom (very major area) / 1123.20 weekly closing gap and 1122.80 GBX bottom (major area) / 1119.50 and 1118.10 minor day channels (major area) / 1115.50 GBX bottom and 1114.90 day gap also 1114.50 day bottom (major area) / 1113.60 minor weekly channel and 1113.20 minor day channel with GBX prices also 1112.50 day bottom and 1112 minor day channel and 1111.80 base (very major area) / 1109.30 day bottom (major) / 1105 rev. peak (major area) / 1095.80 long-term major monthly channel and 1095.50 long-term major day channel (very major area).
 
Comments:  
    The sell-off on Wednesday proved the significance of the major resistance area but managed to hold above the 1128.20 - 1127.80 support leaving the chart in neutral condition.  A trade above 1137.60 is slightly bullish but only a trade above 1142.40 and 1148.40 area can bring any solid bullishness back to the chart.  A trade below 1128.20 - 1127.80 area is slightly bearish but only a trade below 1113.60 can bring any solid bearishness back to the chart.  Remain defensive inside the first trading range between 1134 - 1137.60 resistance and 1128.20 - 1127.80 support.    
                          
Day trades:  For The June contract -
 
Aggressive traders can sell rallies near 1133 - 1134 area or buy dips near 1128.70 - 1128.20 area, whichever side comes first to complete the trade.  (Use a protective buy stop at 1135.90.  Do not rev. long or be more aggressive and use a buy stop and rev. long at 1138.30).  (Use a sell stop and rev. short at 1126.90).
 
Aggressive traders can sell rallies near 1136.50 - 1137.60 area for obj. near 1134 - 1133 area and possibly near 1132.  (Use a buy stop and rev. long at 1138.30).
 
Buy stop at 1138.30 for obj. near 1140 - 1141 area and possibly near 1142.40.
Buy stop at 1143.70 for obj. near 1145.70 - 1146.20 area and possibly near 1148.40.
Buy stop at 1151.70 for obj. near 1154 - 1158 area.
 
Sell stop at 1126.90 for obj. near 1123.20 gap - 1122.80 area.
Sell stop at 1121.90 for obj. near 1120.60 - 1119.50 area and possibly near 1118.10.
Sell stop at 1116.80 for obj. near 1114.90 gap - 1113.60 area.
 

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

Bulletin - Originally sent 06/10/04 (9:05 am est)  

The GBX session traded above the 1135 intra-day channel resistance, which now brings the trading range to the 1137.60 resistance and 1128.20 support.  

The first trade will be adjusted to the following:  Aggressive traders can sell rallies near 1133 - 1134 area and if possible near 1137.60 for obj. near 1128.70 - 1128.20 area.  (Use a buy stop and rev. long at 1138.30).

Results:    06/10/04 

Sold @ 1134 Bought @ 1136.50 = -  $   650.00     
TOTAL (P & L)    -  $   650.00

S & P - For Friday 06-11-04

Reminder: 

The U.S. Markets will be closed on Friday, June 11th in observance of former President Ronald Reagan's funeral, therefore we will not be issuing an S & P report.

The week in review - 06/14/04 - 06/18/04
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 06-14-04:  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 September contract -
1134.60 minor day channel with GBX prices and 1135.50 day gap also 1136.50 GBX top (major area) / 1139.70 day top (major area) / 1141 newly developed long-term major weekly channel and 1141.40 day channel also 1141.50 weekly channel and 1142.10 minor weekly channel and 1142.20 weekly top (very major area) / 1144.50 weekly top and 1145.50 monthly channel (very major area) / 1146.50 weekly top and 1148.10 weekly top (major area) / 1149.80 monthly channel (very major area) / 1152.40 minor weekly upper channel (major) / 1155.70 weekly closing price and 1156.80 weekly upper channel also 1157.60 GBX weekly top (major area) / 1160.80 weekly top for the Sept. contract and 1161.50 minor weekly channel also 1161.80 minor monthly channel and 1163.50 weekly chart's top (very major area) / 1176.30 and 1177.30 minor monthly upper channel (major area). 
 
Support: For the September contract -
1133.10 minor weekly channel with GBX prices (major area) / 1131.10 day gap and 1130.30 day bottom (major area) / 1127.50 day bottom and 1125.40 minor weekly channel (very major area) / 1122.70 weekly closing gap (major area) / 1119.60 monthly closing price and 1118.70 minor day channel also 1117.50 day channel (very major area) / 1114.30 day gap and 1112 day bottom (major area) / 1109 day bottom (major) / 1104.50 rev. peak (major) / 1096.70 long-term major day channel and 1095.80 long-term major monthly channel also 1094.20 minor day channel (very major area) / 1089.50 weekly bottom and 1089 day bottom also 1088.30 monthly channel (very major area) / 1086.50 monthly channel and 1084.50 day bottom (major area) / 1082.50 and 1079.50 minor monthly channels (very major area). 
 
Comments:  
    The sell-off from the major resistance on Wednesday put the chart in neutral territory for Thursday.  The narrow trading range on Thursday did not change the neutral condition but the sell-off on Friday in the GBX session showed signs of weakness but as seen, prices still managed to close up for the week, which was higher from last Friday's close, leaving the chart neutral and still defensive for prices to swing either way.  A trade above 1141 - 1142.10 area is bullish but a trade above 1145.50 and 1149.80 area will be considered a breakout and the uptrend intact for higher prices.  A trade below 1127.50 - 1125.40 area is slightly bearish but only a trade below 1118.70 and 1117.50 can bring significant bearishness back to the chart.  Remain defensive inside the first narrow trading range between 1134.60 and 1130.30 area and also between the second range between 1141 and 1125.40 area.  The major monthly trading range remains between 1149.80 and 1095.80.  A trade above or below the monthly range can likely point the major direction.
                              
Day trades:  For The September contract -
 
Aggressive traders can sell rallies near 1134.60 - 1135.50 area for obj. near 1131.10 gap - 1130.30 area.  (Use a buy stop and rev long at 1137.70).
 
Aggressive traders can buy dips near 1125.40 - 1122.70 area for obj. near 1129 - 1130 area.  (Use a sell stop and rev short at 1121.70).
 
Buy stop at 1137.70 for obj. near 1139.70 - 1141 area.
Buy stop at 1150 for obj. near 1152 - 1153 area.
Buy stop at 1158 for obj. near 1160 - 1161 area.
 
Sell stop at 1121.70 for obj. near 1119.70 - 1118.70 area and possibly near 1117.50 area.
Sell stop at 1116.70 for obj. near 1114.70 - 1114.30 area and possibly near 1112.
Sell stop at 1108 for obj. near 1105 - 1104.50 area.
Sell stop at 1103 for obj. near 1099 - 1096.70 area and possibly near 1095.80 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 06/14/04 (2:31 pm est)  

The sell-off down to 1125.40 put traders into long positions.  The market is showing signs of resistance at the 1127.50 and 1126.50 area that can prevent the obj. at 1129 from being reached.  

It is recommended for traders to exit all long positions taken at the market, which is trading at 1125.40 at this time, and scratch the trade. 

Results:    06/14/04 

Bought @ 1125.40 Sold @ 1125.40 =   $     -0-         sold as per bulletin     
TOTAL (P & L)      $     -0-
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 06-15-04:  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the September contract -
1126.50 and 1127.40 peaks (major area) / 1128.70 day channel and 1129.50 peak (major area) / 1131.20 peak and 1131.40 day top also 1132.70 minor day channel (very major area) / 1136.20 day gap and 1136.50 day top (major area) / 1139.70 day top (major) / 1141 long-term major weekly channel and 1141.50 weekly channel also 1141.10 and 1141.60 day channels and 1141.70 day gap (very major area) / 1142.10 minor weekly channel and 1142.20 weekly top (major area) / 1144.50 weekly top and 1145.50 monthly channel (very major area) / 1146.50 weekly top and 1148.10 weekly top (major area) / 1149.80 monthly channel (very major area) / 1152.40 minor weekly upper channel (major) / 1155.70 weekly closing price and 1156.80 weekly upper channel also 1157.60 GBX weekly top (major area) / 1160.80 weekly top for the Sept. contract and 1161.50 minor weekly channel also 1161.80 minor monthly channel and 1163.50 weekly chart's top (very major area) / 1176.30 and 1177.30 minor monthly upper channel (major area). 
 
Support: For the September contract -
1124.20 base and 1124.10 newly developed day channel (major area) / 1121.80 and 1120.50 day bottoms (major area) / 1119.60 monthly closing price and 1119.50 day channels (very major area) / 1114.30 day gap and 1112 day bottom (major area) / 1109 day bottom (major) / 1104.50 rev. peak (major) / 1097.70 long-term major day channel and 1095.80 long-term major monthly channel also 1095 minor day channel (very major area) / 1089.50 weekly bottom and 1089 day bottom also 1088.30 monthly channel (very major area) / 1086.50 monthly channel and 1084.50 day bottom (major area) / 1082.50 and 1079.50 minor monthly channels (very major area). 
 
Comments:  
    The sell-off on Monday brought prices down to fill the weekly closing gap but failed to penetrate through the 1118.70 - 1117.50 support channels leaving the chart neutral to slightly bearish.  The 1118.70 and 1117.50 support channels now move up to 1119.50 for Tuesday's session.  A trade below 1119.50 is bearish and can bring prices down to challenge near the 1097.70 and 1095.80 major support channels.  A trade above 1132.70 is slightly bullish but only a trade above 1141 and 1142.10 can bring any significant bullishness back to the chart.  Remain defensive inside the first trading area between 1128.70 - 1124.10 area and also between the second range of 1132.70 - 1119.50 trading area.
                                  
Day trades:  For The September contract -
 
Aggressive traders can sell rallies near 1126.50 - 1128.70 or buy dips near 1124.50 - 1124.10 area, whichever side comes first to complete the trade.  (Use a buy stop and rev. long at 1129.80).  (Use a sell stop and rev. short at 1123.80).
 
Aggressive traders can sell rallies near 1131.40 - 1132.70 area for obj. near 1130 - 1128.70 area.  (Use a buy stop and rev. long at 1133.30).
 
Buy stop at 1129.80 for obj. near 1131.40 - 1132.70 area.
Buy stop at 1133.30 for obj. near 1135.30 - 1136.20 gap area.
Buy stop at 1137 for obj. near 1139 - 1141 area.
 
Sell stop at 1123.80 for obj. near 1121.80 - 1119.50 area.
Sell stop at 1118.20 for obj. near 1116 - 1114.30 gap area and possibly near 1112.
Sell stop at 1108 for obj. near 1105 - 1104.50 area.
Sell stop at 1103 for obj. near 1099 - 1097.70 area and possibly near 1095.80 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 06/15/04 (9:46 am est)  

The buy stop at 1133.30 was hit, putting traders into long positions.  The market is showing signs of resistance at 1134.40 that can prevent the obj. of 1135.50 from being met. 

It is recommended for traders to exit the long positions at the market, which is trading at 1133.30 at this time and scratch the trade.

Bulletin - Originally sent 06/15/04 (1:13 pm est)  

The buy stop was hit at 1137, putting traders into long positions.  The market is showing signs of resistance at 1137.80 that can possibly prevent the obj. of 1139 from being met.  

It is recommended for traders to exit the long position at the market, which is trading at 1137 at this time and scratch the trade.

Results:    06/15/04

Bought @ 1133.30 Sold @ 1133.30   =    $      -0- 
Bought @ 1137 Sold @ 1137 =    $      -0-          
TOTAL (P & L)       $      -0-
 
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 06-16-04:  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the September contract -
1134.20 and 1134.50 intra-day channels (major area) / 1135.70 and 1136.50 peaks also 1136.90 newly developed day channel (major area) / 1137.80 and 1139.70 day tops (major area) / 1141 long-term major weekly channel and 1141.50 weekly channel also 1141.50 and 1141.80 day channels and 1141.70 day gap (very major area) / 1142.10 minor weekly channel and 1142.20 weekly top (major area) / 1144.50 weekly top and 1145.50 monthly channel (very major area) / 1146.50 weekly top and 1148.10 weekly top (major area) / 1149.80 monthly channel (very major area) / 1152.40 minor weekly upper channel (major) / 1155.70 weekly closing price and 1156.80 weekly upper channel also 1157.60 GBX weekly top (major area) / 1160.80 weekly top for the Sept. contract and 1161.50 minor weekly channel also 1161.80 minor monthly channel and 1163.50 weekly chart's top (very major area) / 1176.30 and 1177.30 minor monthly upper channel (major area).
 
Support: For the September contract -
1129.50 intra-day channel and 1129 minor day channel with GBX prices also 1128.50 day bottom (major area) / 1126.40 day channel and 1125.50 day gap also 1125.40 GBX bottom (very major area) / 1121.80 day bottom and 1121.50 day channel also 1120.50 day bottom and 1120.20 minor day channel (very major area) / 1119.60 monthly closing price (major) / 1114.30 day gap and 1112 day bottom (major area) / 1109 day bottom (major) / 1104.50 rev. peak (major) / 1098.60 long-term major day channel and 1095.80 long-term major monthly channel also 1095.80 minor day channel (very major area) / 1089.50 weekly bottom and 1089 day bottom also 1088.30 monthly channel (very major area) / 1086.50 monthly channel and 1084.50 day bottom (major area) / 1082.50 and 1079.50 minor monthly channels (very major area). 
 
Comments:     
    The whiplashing action on Tuesday managed to hold above the major support but could not penetrate through the 1141 major resistance leaving the chart in neutral territory.  Even though the market settled up on the day the chart remains in neutral condition until a breakout is seen above 1141 or below 1121.50. Remain defensive inside the first trading range between 1136.90 - 1126.40 area and also between the major area from 1141 to 1121.50.  The major monthly range remains between 1149.80 and 1095.80.     
                             
Day trades:  For The September contract -
 
Aggressive traders can sell rallies near 1134 - 1136.40 area or buy dips near 1129.50 - 1126.40 area, whichever side comes first, to complete the trade.  (Use a buy stop and rev. long at 1137.30).  (Use a sell stop and rev. short at 1124).
 
Aggressive traders can sell rallies near 1141 - 1142 area for obj. near 1138 - 1136 area.  (Use a buy stop and rev. long at 1143).
 
Buy stop at 1137.30 for obj. near 1139.30 - 1139.70 area and possibly near 1141 area.
Buy stop at 1143.30 for obj. near 1145.30 - 1145.50 area and possibly near 1146.50 area.
Buy stop at 1151 for obj. near 1153 - 1155 area and possibly near 1157 area.
 
Sell stop at 1119 for obj. near 1115.50 - 1114.50 area and possibly near 1112 area.
Sell stop at 1108.50 for obj. near 1105.50 - 1104.50 area.
Sell stop at 1103 for obj. near 1100.50 - 1098.60 area and possibly near 1095.80 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 06/16/04 (10:05 am est)  

Short positions were taken on the opening at 1133.50, which was near enough to the 1134 sell area.  The sell off down to 1130.10 is near enough to the 1129.50 obj. and completes the trade.

Bulletin - Originally sent 06/16/04 (10:43 am est)  

Long positions were taken at 1130.50 on a reversal from the short position taken on the opening.  The rally up to 1133.70 is near enough to the 1134 obj. and completes the trade.

Results:    06/16/04

Sold @ 1133.50 Bought @ 1130.50   = + $   750.00  
Bought @ 1130.50 Sold @ 1133.70 = + $   800.00
Sold @ 1135.20 Bought @ 1133 = + $   550.00     
TOTAL (P & L)    + $2,100.00 
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 06-17-04:  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 September contract -
1133 minor day channel and 1133.40 intra-day channel also 1133.80 peak (major area) / 1135 intra-day channel and 1135.40 day top also 1136.10 day channel with GBX prices (very major area) / 1137 GBX top and 1137.80 day top (major area) / 1139.70 day top (major) / 1140.50 day channel and 1141 long-term major weekly channel also 1141.40 day channel and 1141.50 weekly channel and 1141.70 day gap (very major area) / 1142.10 minor weekly channel and 1142.20 weekly top (major area) / 1144.50 weekly top and 1145.50 monthly channel (very major area) / 1146.50 weekly top and 1148.10 weekly top (major area) / 1149.80 monthly channel (very major area) / 1152.40 minor weekly upper channel (major) / 1155.70 weekly closing price and 1156.80 weekly upper channel also 1157.60 GBX weekly top (major area) / 1160.80 weekly top for the Sept. contract and 1161.50 minor weekly channel also 1161.80 minor monthly channel and 1163.50 weekly chart's top (very major area) / 1176.30 and 1177.30 minor monthly upper channel (major area). 
 
Support: For the September contract -
1132.60 minor day channel with GBX prices and 1132.10 intra-day channel and base (major area) /  1131.70 minor day channel and 1130.10 day bottom (major area) / 1128.70 day channel also 1128.50 day bottom (major area) / 1125.50 day gap and 1125.40 GBX bottom also 1123.50 day channel (very major area) / 1121.80 day bottom and 1121 minor day channel also 1120.50 day bottom and 1119.60 monthly closing prices (major area) / 1114.30 day gap and 1112 day bottom (major area) / 1109 day bottom (major) / 1104.50 rev. peak (major) / 1099.60 long-term major day channel and 1096.60 minor day channel also 1095.80 long-term major monthly channel (very major area) / 1089.50 weekly bottom and 1089 day bottom also 1088.30 monthly channel (very major area) / 1086.50 monthly channel and 1084.50 day bottom (major area) / 1082.50 and 1079.50 minor monthly channels (very major area). 
 
Comments:   
    The narrow whiplashing action in Wednesday's session proved the neutral condition and leaving the chart neutral to slightly bearish for Thursday's session.  A trade above 1136.10 and 1137.80 is slightly bullish but only a trade above 1141 and 1142.20 area can bring any solid bullishness back to the chart.  A trade above 1149.80 will confirm the major uptrend intact for higher prices.  A trade below 1131.70 and also 1128.70 is slightly bearish but a trade below 1123.50 channel and 1121 channel can stimulate enough selling pressure to bring prices down near the 1114.20 gap area and possibly near the 1099.60 - 1095.80 major support area.  Remain defensive inside the first narrow trading range between 1133.80 and 1131.70 and also between the next range from 1136.10 to 1128.70.  The major monthly range remains between 1149.80 and 1095.80.  
                         
Day trades:  For The September contract -
 
Aggressive traders can sell rallies near 1133 - 1136.10 area for obj. near 1131.70 - 1130.10 area.  (Use a buy stop and rev. long at 1138).
 
Aggressive traders can attempt long positions near 1125 - 1123.50 area for obj. near 1128 - 1130 area.  (Use a sell stop and rev. short at 1122.80).
 
Buy stop at 1138 for obj. near 1140 - 1141 area.
Buy stop at 1143 for obj. near 1144.50 - 1145.50 area and possibly near 1146.50.
Buy stop at 1150.70 for obj. near 1152.40 - 1154.50 area and possibly near 1156.80 area.
 
Sell stop at 1127.90 for obj. near 1125.50 gap area and possibly near 1123.50.
Sell stop at 1119 for obj. near 1115.50 - 1114.30 gap area.
Sell stop at 1111 for obj. near 1109.50 - 1109 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 06/17/04 (2:46 pm est)  

Short positions were taken at 1133.  The sell off down to 1131 meets the obj. and completes the trade. 

Results:    06/17/04

Sold @ 1127.90 Bought @ 1126.50   = + $   350.00  
Sold @ 1133 Bought @ 1131 = + $   500.00
Sold @ 1133 Bought @ 1131 = + $   500.00     
TOTAL (P & L)    + $1,350.00 
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 06-18-04:  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 September contract -
1131.60 minor day channel (major) / 1132.90 intra-day channel and 1133 peak also 1133.50 day top (major area) / 1135.30 day channel with GBX prices and 1135.40 day top (very major area) / 1137 GBX top and 1137.80 day top (major area) / 1139.70 day top and 1141.20 day channel (major area) / 1141 long-term major weekly channel and 1141.10 day channel also 1141.50 weekly channel and 1141.70 day gap (very major area) / 1142.10 minor weekly channel and 1142.20 weekly top (major area) / 1144.50 weekly top and 1145.50 monthly channel (very major area) / 1146.50 weekly top and 1148.10 weekly top (major area) / 1149.80 monthly channel (very major area) / 1152.40 minor weekly upper channel (major) / 1155.70 weekly closing price and 1156.80 weekly upper channel also 1157.60 GBX weekly top (major area).
 
Support: For the September contract -
 1130.10 and 1129.50 base (major area) / 1128.60 day channel and 1128.30 intra-day channel and base also 1128 minor day channel (major area) / 1125.50 minor day channel and 1125.50 day gap also 1125.40 GBX bottom (very major area) / 1121.80 day bottom and 1121.70 minor day channel also 1120.50 day bottom and 1119.80 monthly closing price (major area) / 1114.30 day gap and 1112. day bottom (major area) / 1109 day bottom (major) / 1104.50 rev. peak (major) / 1100.60 long-term major day channel (very major area) / 1097.50 minor day channel and 1095.80 long-term major monthly channel (very major area) / 1089.50 weekly bottom and 1089 day bottom also 1088.30 monthly channel (very major area) / 1086 monthly channel and 1084.50 day bottom (major area).
 
Comments:   
    The whiplashing action on Thursday proved the neutral condition but the recovery rally from the support area removed the bearishness in the chart leaving it in totally neutral condition for prices to swing either way.  A trade above 1131.60 channel can bring prices up to challenge the 1135.30 channel.  A trade above 1135.30 is slightly bullish but again only a trade above 1141 and 1142.20 areas can bring any solid bullishness back to the chart.  A trade below 1128.60 and 1128 is slightly bearish but only a trade below 1125.50 channel can bring any solid bearishness back to the chart.  A trade below 1121.70 channel will confirm lower prices to possibly challenge the 1100.60 and 1095.80 major support areas.  Remain defensive inside the first major trading range between 1135.30 and 1125.50 area.  The major monthly range remains between 1149.80 and 1095.80.
                             
Day trades:  For The September contract -
 
Aggressive traders can sell rallies near 1135 - 1135.30 area for obj. near 1132 - 1131.60.  (Use a buy stop and rev. long at 1136).
 
Aggressive traders can buy dips near 1126.50 - 1125.50 area for obj. near 1128.50 - 1129.50 area.  (Use a sell stop and rev. short at 1124.90).
 
Aggressive traders can attempt short positions near 1140 - 1141 area for obj. near 1137 - 1135 area and possibly near 1133.  (Use a buy stop and rev. long at 1143).
 
Buy stop at 1136 for obj. near 1137.80 - 1139.70 area and possibly near 1141.
Buy stop at 1143 for obj. near 1144.50 - 1145.50 area and possibly near 1146.50 area.
Buy stop at 1150.70 for obj. near 1152.50 - 1154.50 area and possibly near 1156.80 area.
 
Sell stop at 1124.90 for obj. near 1123 - 1121.70 area.
Sell stop at 1118.70 for obj. near 1115.50 - 1114.30 gap area.
Sell stop at 1111 for obj. near 1109.50 - 1109 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 06/18/04 (10:21 am est)  

 
The buy stop at 1136 was hit, putting traders into long positions.  The rally up to 1137.50 is near enough to the 1137.80 obj. and completes the trade.

Bulletin - Originally sent 06/18/04 (10:37 am est)  

 
The rally up to 1139.50 was near enough to the 1140 sell area, putting traders into short positions.  The obj. remains at 1137 - 1135 area.  (Continue to use a buy stop and rev. long at 1143).

Bulletin - Originally sent 06/18/04 (11:19 am est)  

 
Short positions were taken at 1139.30.  The sell off down to 1137.10 is near enough to the 1137 obj. and completes the trade.
 
Position traders can continue to hold short positions overnight.  As long as the market remains below 1141, lower prices will develop.

Results:    06/18/04

Sold @ 1135 Bought @ 1136   = -  $   250.00  
Bought @ 1136 Sold @ 1137.50 = + $   375.00
Sold @ 1139.30 Bought @ 1137.10 = + $   550.00     
TOTAL (P & L)    + $   675.00
The week in review - 06/21/04 - 6/25/04
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 06-21-04:  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 September contract -
1135.30 intra-day channel and 1136 peak (major area) / 1137.50 and 1137.80 peaks also 1138.90 day channel and 1139 long-term major weekly channel (very major area) / 1139.30 weekly top and 1139.70 day channel also 1139.70 day top and 1140.10 weekly channel also 1140.90 day channel and 1141.30 minor weekly channel (very major area) / 1141.70 day gap and 1142.20 weekly top (major area) / 1144.50 Sept. contract's weekly top and 1145.50 monthly channel also 1146.20 weekly top (very major area) / 1148.10 Sept. contract's weekly top and 1149.80 monthly channel (very major area) / 1155.70 Sept. contract's weekly closing price and 1157.80 GBX weekly top also 1157.80 weekly chart's closing price (major area) / 1160 weekly chart's top and 1161.40 minor weekly channel also 1161.80 minor monthly channel and 1162.20 Sept. contract's weekly top and 1163.50 weekly chart's top (very major area).
 
Support: For the September contract -
1133.80 and 1133.50 base also 1132.90 and 1132.60 weekly channels and 1132.50 day channel without GBX prices and 1132.50 base (major area) / 1130.80 day channel without GBX prices and 1129.60 minor day channel also 1129.50 day bottom (major area) / 1128.50 day channel and 1127.50 day channel also 1126.70 minor weekly channel and 1126.50 day bottom (very major area) / 1125.50 day gap and 1125.40 GBX bottom (major area) / 1122.50 minor day channel and 1122 weekly chart's bottom also 1121.80 weekly bottom (very major area) / 1120.50 day bottom and 1119.80 monthly closing price (major area) / 1114.30 day gap and 1112.50 weekly chart's bottom also 1112 day bottom (major area) / 1109 day bottom (major) / 1104.50 rev. peak (major) / 1101.60 long-term major day channel and 1101.60 long-term major weekly channel (very major area) / 1098.30 day channel and 1095.80 long-term major monthly channel (very major area).
 
 Comments:   
    The whiplashing action on Friday proved the neutral condition again for the second day leaving the chart in neutral condition for the third day between the first narrow range from 1138.90 and 1132.50 and inside the weekly range between 1141.30 and 1126.70.  The major monthly range remains between 1149.80 and 1095.80.  NOTE:  The S & P closed slightly lower from last weeks close but the Dow closed slightly higher and the NASDAQ closed much lower, leaving the Indexes mixed.  Remain defensive inside the first trading range between 1138.90 and 1132.50 area.  Traders can prepare for a breakout to either side of the weekly range sometime this week.
                                 
Day trades:  For The September contract -
 
Aggressive traders can sell rallies near 1137.50 - 1139 area and if possible near 1141.70 or buy dips near 1133.50 - 1132.50 area, whichever side comes first, to complete the trade.  (Use a buy stop and rev. long at 1143).  (Use a sell stop and rev. short at 1131.90).
 
Aggressive traders can sell rallies near 1148 - 1149.80 area, if it gets there, for obj. near 1144 - 1142 area and possibly near 1140.  (Use a buy stop and rev. long at 1152.80).
 
Buy stop at 1143 for obj. near 1145 - 1146.20 area and possibly near 1148 - 1149.80 area.
Buy stop at 1152.80 for obj. near 1154.80 - 1157.80 area and possibly near 1161.
 
Sell stop at 1131.90 for obj. near 1130.80 - 1129.50 area and possibly near 1128.50 - 1126.70 area.
Sell stop at 1124.80 for obj. near 1122.50 - 1122 area.
Sell stop at 1118.70 for obj. near 1115.50 - 1144.30 area and possibly near 1112.50 weekly bottom.
 

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

Bulletin - Originally sent 06/21/04 (10:05 am est)  

 
The sell-off down to 1133.50 put traders into long positions in the buy area.  The rally up to 1137.30 is near enough to the 1137.50 obj. and completes the trade.

Bulletin - Originally sent 06/21/04 (3:35 pm est)  

 
Short positions were taken at 1137.50.  The sell-off down to 1133 meets the obj. and completes the trade.
 
The sell stop at 1131.90 was hit putting traders into short positions.  The sell-off down to 1130 meets the obj. and completes the trade.

Results:    06/21/04

Bought @ 1133.50 Sold @ 1137.30   = + $   950.00  
Sold @ 1137.50 Bought @ 1133 = + $1,125.00
Sold @ 1131.90 Bought @ 1130 = + $   475.00     
TOTAL (P & L)    + $2,550.00 
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 06-22-04:  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the September contract -
1130.60 rev. channel and 1132.50 intra-day channel also 1132.80 intra-day gap (major area) / 1134 weekly closing price also 1135.20 and 1135.40 peaks (major area) / 1138.30 day top and 1138.60 day channel without GBX prices also 1139.20 GBX top and 1139.40 day channel and 1139.70 day top (major area) / 1140.10 weekly channel and 1140.80 day channel also 1141.30 minor weekly channel (very major area) / 1141.70 day gap and 1142.20 weekly top (major area) / 1144.50 Sept. contract's weekly top and 1145.50 monthly channel also 1146.20 weekly top (very major area) / 1148.10 Sept. contract's weekly top and 1149.80 monthly channel (very major area) / 1155.70 Sept. contract's weekly closing price and 1157.80 GBX weekly top also 1157.80 weekly chart's closing price (major area) / 1160 weekly chart's top and 1161.40 minor weekly channel also 1161.80 minor monthly channel and 1162.20 Sept. contract's weekly top and 1163.50 weekly chart's top (very major area).
 
Support: For the September contract -
1128.80 minor day channel with GBX prices and 1128.50 day bottom (major area) / 1126.70 minor weekly channel and 1126.50 day bottom also 1125.50 day gap and 1125.40 GBX bottom (very major area) / 1123.20 minor day channel and 1122.70 weekly closing prices also 1122 weekly chart's bottom and 1121.80 weekly bottom (very major area) / 1120.50 day bottom and 1119.80 monthly closing price (major area) / 1114.30 day gap and 1112.50 weekly chart's bottom also 1112 day bottom (major area) / 1109 day bottom (major) / 1104.50 rev. peak (major) / 1102.50 long-term major day channel and 1101.60 long-term major weekly channel (very major area) / 1099.20 minor day channel (major) / 1095.80 long-term major monthly channel (very major area). 
 
Comments:  
    The sell-off from the resistance brought prices below most of the support channels leaving the chart neutral to bearish and facing only the 1128.80 and 1123.20 minor support channels before it became in bearish condition.  A trade below 1123.20 will fail the last minor channel that can bring prices down near the 1114.30 gap area and possibly challenge the 1102.50 and 1095.80 major support channels.  A trade today above 1135.40 and 1138.60 is slightly bullish but only a trade above 1140.10 - 1141.30 area can bring any solid bullishness back to the chart.  Remain defensive inside the first trading range between 1132.50 - 1128.80 area and also between 1135.40 - 1138.60 resistance and 1126.70 - 1123.20 support.    
                                 
Day trades:  For The September contract -
 
Aggressive traders can sell rallies near 1130.60 - 1132.50 area and if possible near 1135 for obj. near 1128.80 - 1128.50 area.  (Use a protective buy stop at 1136.  Do not rev. long).
 
Aggressive traders can sell rallies near 1138 - 1139.40 area and if possible near 1141 for obj. near 1133 - 1132 area.  (Use a buy stop and rev. long at 1143).
 
Buy stop at 1143 for obj. near 1144.50 - 1145.50 area.
Buy stop at 1152.80 for obj. near 1154.80 - 1157 area.
 
Sell stop 1128.30 for obj. near 1126.70 - 1125.50 gap area.
Sell stop at 1125 for obj. near 1123.50 - 1123.20 area and possibly near 1122.
Sell stop at 1118.70 for obj. near 1115.50 - 1114.30 area and possibly near 1112.50 weekly bottom.
 

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

Bulletin - Originally sent 06/22/04 (9:18 am est)  

 
The intra-day double bottom at 1128.10, made in the GBX session is now considered technical support.  Only a trade below the 1126.70 minor weekly channel support will fail the 1128.10 double bottom.
 
NOTE:  Due to the technical support that has developed in the GBX session the 1128.10 sell stop is now cancelled.

Bulletin - Originally sent 06/22/04 (11:48 am est)  

 
The sell stop at 1125 was hit, putting traders into short positions.  The sell off down to 1123.50 meets the obj. and completes the trade.

Bulletin - Originally sent 06/22/04 (2:34 pm est)  

 
Short positions can be considered by selling the high end of the selling area in the first trade.
 
The rally up to 1134.50 put traders into short positions again.  The obj. is near 1130 - 1129 area and possibly near 1127.  (Use a protective buy stop at 1138.90.  Do not rev long).

Results:    06/22/04

Sold @ 1130.60 Bought @ 1128.80   = + $   450.00  
Sold @ 1125 Bought @ 1123.50 = + $   375.00
Sold @ 1134.50 Bought @ 1134.90 = -  $   100.00     
TOTAL (P & L)    + $   725.00 
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 06-23-04:  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area.  The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the September contract -
1135.70 top also 1136.30 and 1137.40 minor day channels without GBX prices (major area) / 1138.20 day channel without GBX prices and 1138.30 day top also 1139.10 day channel and 1139.30 day top also 1139.70 day top (major area) / 1140.10 weekly channel and 1140.70 day channel also 1141.30 minor weekly channel (very major area) / 1141.70 day top and 1142.20 weekly to (major area) / 1144.50 Sept. contract's weekly top and 1145.50 monthly channel also 1146.20 weekly top (very major area) / 1148.10 Sept. contract's weekly top and 1149.80 monthly channel (very major area) / 1155.70 Sept. contract's weekly closing price and 1157.80 GBX weekly top also 1157.80 weekly chart's closing price (major area) / 1160 weekly chart's top and 1161.40 minor weekly channel also 1161.80 minor monthly channel and 1162.20 Sept. contract's weekly top and 1163.50 weekly chart's top (very major area).
 
Support: For the September contract -
1133.50 intra-day channel and 1132.30 base (major area) / 1129.80 intra-day channel and 1129.80 rev. peak (major area) / 1126.50 base (major) / 1124 minor day channel and 1123.70 newly developed minor day channel also 1123.50 day bottom (very major area) / 1122.70 weekly closing price and 1122 weekly chart's bottom also 1121.80 weekly bottom (major area) / 1120.50 day bottom and 1119.80 monthly closing price (major area) / 1114.30 day gap and 1112.50 weekly chart's bottom also 1112 day bottom (major area) / 1109 day bottom (major) / 1104.50 rev. peak (major) / 1103.50 long-term major day channel and 1101.60 long-term major weekly channel (very major area) / 1100 minor day channel (major) / 1095.80 long-term major monthly channel (very major area). 
 
Comments:  
    The whiplashing action and rally on Tuesday from the last minor support managed to close above the last two days close removing the bearishness from the chart, leaving the chart in totally neutral condition again.  A trade above 1137.40 and 1139.10 channels are slightly bullish but only a trade above 1140.10 and 1141.30 channels can bring any solid bullishness back to the chart.  A trade above the 1149.80 monthly channel will be considered a breakout and will bring the major uptrend back into play.  A trade today below 1126.50 is slightly bearish but only a trade below the 1123.70 channel and 1119.80 monthly close can bring any solid bearishness back to the chart.  Remain defensive inside the first trading range between 1136.30 - 1137.40 resistance and 1133.50 - 1129.80 support areas.
                                     
Day trades:  For The September contract -
 
Aggressive traders can sell rallies near 1136 - 1137.40 area and if possible near 1138.20 - 1139.10 area or buy dips near 1133.50 - 1132.30 area and if possible near 1129.80, whichever side comes first, to complete the trade.  (Use a buy stop and rev. long at 1143).  (Use a sell stop and rev. short at 1129).
 
Aggressive traders can sell rallies near 1148 - 1149.80 area for obj. near 1144.50 - 1141.50 area.  (Use a buy stop and rev. long at 1152.80).
 
Buy stop at 1143 for obj. near 1144.50 - 1145.50 area and possibly near 1146.20 top - 1149.80 area.
Buy stop at 1152.80 for obj. near 1154.80 - 1156.80 area.
 
Sell stop at 1129 for obj. near 1127.50 - 1126.50 area.
Sell stop at 1126 for obj. near 1124.30 - 1123.70 area and possibly near 1122.
Sell stop at 1118.70 for obj. near 1115.50 - 1114.30 area and possibly near 1112.50 weekly bottom.
 

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

Bulletin - Originally sent 06/23/04 (11:58 am est)  

 
Long positions were taken at the open at 1133 and also on the sell-off at the 1131.50 intra-day double bottom.  The rally up to 1134 is now considered an intra-day double top and resistance to exit all long positions.
 
It is recommended to exit all long positions at the market, which is trading at 1133.80 at this time and take profits.

Bulletin - Originally sent 06/23/04 (1:14 pm est)  

 
The rally up to 1136.20 put traders into short positions at 1136.  The sell-off down to 1134 is near enough to the 1133.50 obj. and completes the trade.

Bulletin - Originally sent 06/23/04 (3:57 pm est)  

 
The buy stop at 1143 was hit putting traders into long positions.  The rally up to 1144.50 - 1145.50 meets the obj. and completes the trade.

Results:    06/23/04

Bought @ 1133 Sold @ 1134.80   = + $   450.00  
Bought @ 1131.50 Sold @ 1134.80 = + $   825.00
Sold @ 1136 Bought @ 1134 = + $   500.00
Bought @ 1143 Sold @ 1145 = + $   500.00     
TOTAL (P & L)    + $2,275.00 
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 06-24-04:  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 September contract -
1145 newly developed day channel and 1145.50 monthly channels also 1146.20 weekly top (very major area) / 1148.10 Sept. contract's weekly top and 1149.80 monthly channel (very major area) / 1155.70 Sept. contract's weekly closing price and 1158.80 GBX weekly top also 1157.80 weekly chart's closing price (major area) / 1160 weekly chart's top and 1161.40 minor weekly channel also 1161.80 minor monthly channel (very major area) / 1162.20 Sept. contract's weekly top and 1163.50 weekly chart's top (very major area) / 1167.80 weekly upper channel (major) / 1176.30 and 1177.30 minor monthly upper channels also 1177 and 1178.50 monthly double top (very major area) / 1189 and 1189.50 weekly double top (major area).
 
Support: For the September contract -
1140.50 base (major) / 1138.50 day channel and 1136.20 intra-day channel (very major area) / 1134.80 and 1133.60 congestion base area (major area) / 1131 day bottom (major) / 1127 and 1126.90 day channels also 1126.50 base (very major area) / 1124.70 minor day channel and 1123.50 day bottom (major area) / 1122.70 weekly closing price and 1122 weekly chart's bottom also 1121.80 weekly bottom (major area) / 1120.50 day bottom and 1119.80 monthly closing price (major area) / 1114.30 day gap and 1112.50 weekly chart's bottom also 1112 day bottom (major area) / 1109 day bottom (major) / 1104.50 rev. peak and 1104.40 long-term major day channel (very major area) / 1101.60 long-term major weekly channel and 1100.80 minor day channel (very major area) / 1095.80 long-term major monthly channel (very major area).
 
Comments:  
    The follow through rally on Wednesday brought prices up to the very major resistance area that can prove to be significant enough to put a lid on any further rallies for a while.  A trade above the 1145.50 major channel is bullish and above the 1149.80 channel will be considered a breakout and will bring the major uptrend back into play for prices to challenge the 1163.50 and 1177 major top areas.  A trade today below 1136.20 is slightly bearish but only a trade below the 1126.90 channel can bring any solid bearishness back to the chart.  Remain defensive inside the first trading range between 1145.50 and 1138.50 area, and also between the major trading range from 1149.80 to 1126.90 area.
                                         
Day trades:  For The September contract -
 
Aggressive traders can sell rallies near 1145.50 - 1146.20 area for obj. near 1141.70 - 1140.50 area.  (Use a protective buy stop at 1147.  Do not rev. long).  (Very aggressive traders can use a buy stop and rev. long at 1152.80).
 
Aggressive traders can sell rallies near 1148 - 1149.80 area for obj. near 1143 - 1141.70 area and possibly near 1138.  (Use a buy stop and rev. long at 1152.80).
 
Aggressive traders can buy dips near 1138.50 - 1136.20 area for obj. near 1140 - 1141.70 area.  (Use a sell stop and rev. short at 1135.80).
 
Sell stop at 1135.80 for obj. near 1134.80 - 1133.60 area.
Sell stop at 1133 for obj. near 1131 bottom area.
Sell stop at 1129.90 for obj. near 1127.90 - 1126.20 area.
 
Buy stop at 1152.80 for obj. near 1154.80 - 1156.80 area. 
 
NOTE:  All prices from 1157.80 to 1163.50 will be considered resistance but short positions will not be taken until a significant top formation can develop.
 

* 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 06/24/04 (9:48 am est)  

 
The rally up to 1144.30 is near enough to the 1145.50 sell area putting traders into short positions.  (Continue to use a protective buy stop at 1147).  The obj. remains near 1141.70 - 1140.50. 

Bulletin - Originally sent 06/24/04 (2:04 pm est)  

 
Short positions were taken at 1144.30 and at the double top at 1146.20.  The sell off down to 1142.10 is near enough to the 1141.70 obj. and completes the trade.

Results:    06/24/04

Sold @ 1144.30 Bought @ 1142.30   = + $   500.00 
Sold @ 1146.20 Bought @ 1142.30 = + $   975.00     
TOTAL (P & L)    +  $1,475.00

S & P - For Friday 06-25-04:

No report was issued for this day

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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