Archived S & P's

The week in review - 06/28/04 - 07/02/04

The Tech Guru's S & P Day Trading Recommendations

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Monday 06-28-04: NOTE: After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value. Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area. The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.

Special instructions for using stops - All stops listed are for the day session only. Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount. NOTE: The first support area becomes the resistance after the market trades through the second support area listed. The first resistance area becomes the support after the market trades through the second resistance area listed.

Resistance: For the September contract -

1137.70 and 1138.70 intra-day channels also 1138.50 and 1139 double peak (major area) / 1142.30 and 1142.50 peaks (major area) / 1144.20 long-term major weekly channel and 1145.10 newly developed minor weekly channel also 1145.60 minor day channel and 1145.80 minor weekly channel also 1145.90 day top and 1146.20 double weekly top (very major area) / 1147.80 minor weekly upper channel and 1148.10 Sept. contract's weekly top also 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 1161.20 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) / 1171.20 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 -

1132.50 and 1131.90 weekly channels also 1131 day bottom (very major area) / 1130.60 and 1130.30 day channels (very major area) / 1127.20 weekly channel and 1126.20 minor day channel (very major area) / 1125 minor weekly channel and 1124.60 minor day channel (major area) / 1123.50 and 1122 weekly bottoms 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) / 1106.40 long-term major day channel also 1106.20 long-term major weekly channel (very major area) /1102.50 minor day channel (major area) / 1095.80 long-term major monthly channel (very major area) / 1093.80 weekly channel (major) / 1090 weekly chart's bottom and 1089.50 weekly bottom also 1088.30 monthly channel (very major area) / 1084.50 day bottom and 1082.80 minor monthly channel also 1082.40 minor weekly channel (major area).

Comments:

The sell-off on Friday from the major resistance proved the significance of the area and because the market closed down for the second day in a row, leaves the chart neutral to slightly bearish for possible lower prices to develop. Remain defensive inside the first trading area between 1137.70 - 1138.70 resistance and 1132.50 - 1131.90 support area. The 1130.60 - 1130.20 support is also significant.

Day trades: For The September contract -

Aggressive traders can sell rallies near 1137.50 - 1138.70 area or buy dips near 1132.50 - 1131.90 area and if possible near 1130.60, whichever side comes first, to complete the trade. (Use a buy stop and rev. long at 1140). (Use a sell stop and rev. short at 1129.90).

Aggressive traders can sell rallies near 1147.80 - 1149.80 area for obj. near 1143 - 1142 area. (Use a buy stop and rev. long at 1153).

Buy stop at 1140 for obj. near 1142 - 1144 area and possibly near 1145.10.

Buy stop at 1153 for obj. near 1155.70 - 1157.80 area.

Sell stop at 1129.90 for obj. near 1127.70 - 1127.20 area and possibly near 1126.20.

Sell stop at 1121.50 for obj. near 1120 - 1119.80 area.

Sell stop at 1118.80 for obj. near 1115.50 - 1114.30 area.

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

Bulletin - Originally sent 06/28/04 (4:07 pm est)

Long positions were taken at the 1132.50 and 1131 buy area. The rally up to 1134 is showing signs of resistance at this time for traders to consider taking profits and scratching the trade.

It is recommended to exit all long positions at the market, which is trading at 1132.50 at this time, to complete the trade with a small profit.

Results: 06/28/04

Bought @ 1132.50	Sold @ 1132.50	= $ -0- sold as per bulletin
Bought @ 1131	Sold @ 1132.50	= + $ 375.00 sold as per bulletin
TOTAL (P & L)		+ $ 375.00

thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Tuesday 06-29-04: NOTE: After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value. Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area. The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.

Resistance: For the September contract -

1132 and 1132.30 rev. channel also 1132.90 intra-day channel (major area) / 1133.70 intra-day channel also 1134 and 1134.50 peak (major area) / 1139.50 minor day channel also 1140.50 and 1141 peaks (very major area) / 1142.70 day top and 1144.20 long-term major weekly channel (very major area) / 1145.10 minor weekly channel and 1145.60 minor day channel also 1145.50 GBX top and 1145.80 minor weekly channel also 1145.90 day top and 1146.20 double weekly top (very major area) / 1147.80 minor weekly upper channel and 1148.10 Sept. contract's weekly top also 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 1161.20 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).

Support: For the September contract -

1131 double bottom (major area) / 1127.20 weekly channel and 1127 minor day channel (very major area) / 1125 minor weekly channel and 1124.90 minor day channel (major area) / 1123.50 and 1122 weekly bottoms 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) / 1107.30 long-term major day channel also 1106.20 long-term major weekly channel (very major area) /1103.30 minor day channel (major area) / 1095.80 long-term major monthly channel (very major area) / 1093.80 weekly channel (major) / 1090 weekly chart's bottom and 1089.50 weekly bottom also 1088.30 monthly channel (very major area) / 1084.50 day bottom and 1082.80 minor monthly channel also 1082.40 minor weekly channel (major area).

Comments:

The sell-off on Monday proved the bearish condition bringing prices lower as expected and leaving the chart in neutral to bearish condition. A trade below the 1127.20 channel will fail the last support channel in this neutral area and will put the chart in bearish territory for prices to challenge the 1114.30 day gap and possibly near the 1107.30 and 1095.80 major channels. A trade today above 1139.50 is slightly bullish but only a trade above the 1145.80 and 1149.80 area can bring any solid bullishness back to the chart. Remain defensive inside the first trading range between 1133.70 and 1127.20 area.

Day trades: For The September contract -

Aggressive traders can sell rallies near 1132 - 1133.70 area for obj. near 1128.20 - 1127.20 area. (Use a protective buy stop at 1135. Do not rev. long).

Aggressive traders can sell rallies near 1137 - 1139.50 area, if it gets there, for obj. near 1133 - 1131 area. (Use a protective buy stop at 1141.70. Do not rev. long).

Aggressive traders can sell rallies near 1147.80 - 1149.80 area, if it can get there before the last day of this month, for obj. near 1144 - 1142.50 area. (Use a buy stop and rev. long at 1153).

Buy stop at 1153 for obj. near 1155.50 - 1157.80 area.

Sell stop at 1126.70 for obj. near 1125 - 1124.90 area and possibly near 1123.50 bottom.

Sell stop at 1121.50 for obj. near 1120 - 1119.80 area.

Sell stop at 1118.80 for obj. near 1115.50 - 1114.30 gap area.

Bulletin - Originally sent 06/29/04 (2:30 pm est)

Short positions were taken at 1137 and 1138.50 area. The sell-off down to 1134.50 is considered an intra-day double bottom and a temporary support area.

Day traders can exit all short positions at the market, which is trading at 1135 at this time and take profits. This completes the trade.

Results: 06/29/04

Sold @ 1132.50	Bought @ 1135	= - $ 625.00
Sold @ 1136.20	Bought @ 1133.80	= + $ 600.00
Sold @ 1138.50.	Bought @ 1135	= + $ 875.00
TOTAL (P & L)		+ $ 850.00

thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Wednesday 06-30-04: NOTE: After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value. Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area. The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.

Resistance: For the September contract -

1136.20 peak and 1136.30 minor day channel without GBX prices also 1136.70 peak (very major area) / 1137.80 intra-day double peak and 1138.30 day top (major area) / 1142.40 intra-day gap and 1142.50 peak also 1142.70 day top (major area) / 1144.20 long-term major weekly channel also 1145 and 1145.50 day channels also 1146.20 weekly double top (very major area) / 1147.80 minor weekly upper channel and 1148.10 Sept. contract's weekly top also 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 1161.20 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).

Support: For the September contract -

1135.10 intra-day channel and 1135 base also 1134.50 and 1133.80 base (major area) / 1132.90 and 1132.70 newly developed day channels without GBX prices (major area) / 1131.20 and 1131 day bottoms (major area) / 1129.30 newly developed day channel with GBX prices and 1127.80 GBX bottom also 1127.70 minor day channel (very major area) / 1125.20 minor day channel (major area) / 1123.50 and 1122 weekly bottoms 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) / 1108.30 long-term major day channel also 1106.20 long-term major weekly channel (very major area) / 1104.20 minor day channel (major area) / 1095.80 long-term major monthly channel (very major area).

Comments:

The rally on Tuesday managed to close the session higher than the last two day's closing prices removing the bearishness from the chart and leaving it neutral again for swings either way. Even though the 1146.20 double top is a significant resistance it is still possible for rallies to penetrate through to reach the 1149.80 monthly channel before a major down trend develops. A trade below the 1127.70 channel will bring the bearishness back to the chart for lower prices. Remain defensive inside the first trading range between 1138.30 and 1132.70 area and also between the 1144.20 - 1127.70 area.

Day trades: For The September contract -

Aggressive traders can sell rallies near 1144.20 - 1146.20 area and if possible near 1148 - 1149.80 area for obj. near 1142 - 1140 area and possibly near 1138.50. (Use a buy stop and rev. long at 1153). NOTE: If trades are taken at the 1144.20 area and also at 1148 area before a trade is complete then change the obj. for both short positions near 1145 - 1143 area, which will complete both trades with a small profit.

Buy stop at 1139 for obj. near 1142 - 1144.20 area.

Buy stop at 1153 for obj. near 1155.50 - 1157.80 area.

Sell stop at 1131.90 for obj. near 1129.70 - 1129.30 area and possibly near 1127.70.

Sell stop at 1124.70 for obj. near 1122 - 1120 area.

Sell stop at 1118.80 for obj. near 1115 - 1114.30 area.

Sell stop at 1111.50 for obj. near 1109.50 - 1108.30 area.

Bulletin - Originally sent 06/30/04 (3:31 pm est)

The buy stop at 1139 was hit putting traders into long positions. The rally up to 1142 meets the obj. and completes the trade.

Results: 06/30/04

Bought @ 1139	Sold @ 1142	= + $ 750.00
TOTAL (P & L)		+ $ 750.00

thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Thursday 07-01-04: 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.

Resistance: For the September contract -

1141.50 intra-day channel and 1142.50 peak (major area) / 1144.40 day top and 1144.70 minor day channel (very major area) / 1145.30 day channel, 1145.20 monthly channel and 1145.90 GBX top also 1146.20 weekly double top (very major area) / 1147.80 minor weekly upper channel and 1148.10 Sept. contract's weekly top (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 1161.20 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).

Support: For the September contract -

1138.40 minor day channel with GBX prices and 1138.20 base (major area) / 1136.70 and 1136.50 base (major area) / 1135 minor day channel also 1134.60 and 1134.30 day channels (very major area) / 1133.10 day bottom (major) / 1131.20 and 1131 day bottoms also 1130.90 major day channel with GBX prices (very major area) / 1128.50 minor day channel and 1127.80 GBX bottom (major area) / 1125.50 minor day channel and 1123.50 weekly bottom (major area) / 1121.80 weekly bottom and 1120.50 day bottom (major area) / 1116.30 long-term major monthly channel also 1114.30 day gap and 1112.50 weekly chart's bottom also 1112 day bottom (major area) / 1109.30 long-term major day channel and 1109 day bottom (very major area) / 1106.20 long-term major weekly channel and 1105 minor day channel (very major area).

Comments:

The rally on Wednesday brought prices up to the major resistance and can possibly prove to be significant enough to stimulate selling for retracements to the downside. A trade above the new 1145.20 monthly channel and 1146.20 double top area will be considered a breakout for higher prices. A trade below 1135 is slightly bearish but a trade below 1130.90 and 1128.50 channels can prove to be significant enough to bring prices down to challenge the new 1116.30 monthly channel. Remain defensive inside the first trading range between 1141.50 - 1135 area and also between the major trading range from 1145.20 - 1146.20 resistance and 1130.90 - 1128.50 support area.

Day trades: For The September contract -

Aggressive traders can sell rallies near 1141.50 - 1145.20 area or buy dips near 1138.40 - 1135 area, whichever side comes first, to complete the trade. (Use a buy stop and rev. long at 1149.20). (Use a sell stop and rev. short at 1133.90).

Buy stop at 1149.20 for obj. near 1153 - 1155 area and possibly near 1157.80.

Sell stop at 1133.90 for obj. near 1131.90 - 1130.90 area

Sell stop at 1129.90 for obj. near 1128.50 - 1127.70 area and possibly near 1125.50.

Sell stop at 1124.50 area for obj. near 1122 - 1120.50 area

Sell stop at 1119 for obj. near 1117 - 1116.30 area.

Bulletin - Originally sent 07/01/04 (9:55 am est)

Due to the bearish technical chart formation that has developed the buy side of the first trade near 1138.50 - 1135 is now being cancelled.

Bulletin - Originally sent 07/01/04 (11:33 am est)

The following trades were completed today as of this time -

Sold at 1140.50, which was near enough to the 1141.50 sell area and met the obj. at 1138.50 to complete the trade.

The sell stop at 1133.90 was hit putting traders into short positions. The sell-off down to 1131 meets the obj. and completes the trade.

The sell stop at 1129.90 was hit putting traders into short positions. The sell-off down to 1128 meets the obj. and completes the trade.

Bulletin - Originally sent 07/01/04 (1:55 pm est)

The sell stop at 1124.50 was hit putting traders into short positions. The sell-off down to 1122.50 is near enough to the 1122 obj. and completes the trade.

Results: 07/01/04

Sold @ 1140.50	Bought @ 1138.50	= + $ 500.00
Sold @ 1133.90	Bought @ 1131	= + $ 725.00
Sold @ 1129.90	Bought @ 1128	= + $ 475.00
Sold @ 1124.50	Bought @ 1122.50	= + $ 500.00
TOTAL (P & L)		+ $2,200.00

thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Friday 07-02-04: 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.

Resistance: For the September contract -

1127.90 intra-day channel (major) / 1129 intra-day channel also 1129 and 1130.50 peaks (major area) / 1136 and 1136.20 peaks and 1136.40 day channel (very major area) / 1139.20 peak and 1140.40 day top (major area) / 1142.60 minor day channel with GBX prices and 1143.50 GBX top also 1144.40 minor day channel and 1144.40 day top (very major area) / 1145.10 major day channel and 1145.20 monthly channel and 1145.90 GBX top also 1146.20 weekly double top (very major area) / 1147.80 minor weekly upper channel and 1148.10 Sept. contract's weekly top (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 1161.20 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).

Support: For the September contract -

1124.10 and 1123.80 base area also 1123.80 newly developed day channel (very major area) / 1122.50 day bottom and 1121.80 weekly bottom (major area) / 1120.50 day bottom and 1119.80 monthly closing price (major area) / 1116.30 long-term major monthly channel (very major area) / 1114.30 day gap and 1112.50 weekly chart's bottom also 1112 day bottom (major area) / 1110.20 long-term major day channel and 1109 day bottom (very major area) / 1106.20 long-term major weekly channel and 1105.80 minor day channel (very major area) / 1095.50, 1094.70 and 1092.50 weekly closing prices (very major area).

Comments:

The sell-off on Thursday from the major resistance area materialized as expected bringing prices down below all the support channels that were inside this 4 week congestion area leaving the chart in bearish condition for prices to challenge the new 1116.30 monthly channel and possibly lower. A trade below 1110.20 will confirm the major downtrend intact for lower prices to follow. A trade today above 1136.40 is slightly bullish but only a trade above the 1145.20 monthly channel can bring any solid bullishness back to the chart. Remain defensive inside the first trading range between 1127.90 and 1123.80 area and also between the 1136.40 and 1116.30 area.

Day trades: For The September contract -

Aggressive traders can sell rallies near 1127.50 - 1127.90 area and if possible near 1129 for obj. near 1124.60 - 1123.80 area. (Use a protective buy stop at 1132. Do not rev long).

Aggressive traders can sell rallies near 1136 - 1136.40 area, if it gets there, for obj. near 1132 - 1129 area and possibly near 1126. (Use a protective buy stop at 1139.40. Do not rev. long).

Sell stop at 1123 for obj. near 1120.70 - 1120.50 area and possibly near 1119.80.

Sell stop at 1118.70 for obj. near 1116.70 - 1116.30 area.

Sell stop at 1115.70 for obj. near 1114.30 gap - 1112.50 and possibly near 1110.20.

Sell stop at 1108.50 for obj. near 1106.80 - 1106.30 area.

Bulletin - Originally sent 07/02/04 (9:44 am est)

Short positions were taken on the open at 1128. The sell-off down to 1125 is near enough to the 1124.50 obj. and completes the trade.

Bulletin - Originally sent 07/02/04 (10:09 am est)

The sell stop at 1123 was hit putting traders into short positions. The 1122.50 is showing signs of support at this time.

Exit the short position at the market, which is trading at 1123.30 at scratch the trade. Traders can consider selling on rallies near 1125 - 1126 area for obj. near 1123. Use a protective buy stop at 1129.50 for this trade.

Bulletin - Originally sent 07/02/04 (12:45 pm est)

Short positions were taken at 1126 and 1129. The sell-off down to 1123.50 is near enough to the 1123 obj. and completes the trade.

Results: 07/02/04

Sold @ 1128	Bought @ 1125	= + $ 750.00
Sold @ 1123	Bought @ 1123.30	= - $ 75.00
Sold @ 1126	Bought @ 1123.50	= + $ 625.00
Sold @ 1129	Bought @ 1123.50	= + $1,375.00
TOTAL (P & L)		+ $2,675.00

The week in review - 07/06/04 - 07/09/04

The Tech Guru's S & P Day Trading Recommendations

thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Tuesday 07-06-04: NOTE: After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value. Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area. The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.

Resistance: For the September contract -

1126 intra-day channel also 1126 and 1126.50 peaks (major area) / 1126.70 and 1127 peaks also 1128.30 peak and 1128.40 day channel (very major area) / 1129.30 day top and 1130.50 peak (major area) / 1135.60 and 1136.20 peaks (major area) / 1139 and 1139.20 peaks also 1140 peak and 140.20 day top and monthly channel and 1140.80 day channel with GBX prices (very major area) / 1142.20 day channel with GBX prices and 1142.40 long-term major weekly channel without GBX prices also 1142.60 minor weekly channel without GBX prices (very major area) / 1143.50 long-term major weekly channel with GBX prices and 1144.40 day top also 1144.80 minor weekly channel with GBX prices and 1145.20 monthly channel also 1145.40 minor weekly channel (very major area) / 1146.20 weekly double top and 1148.10 Sept. contract's weekly top (major area).

Support: For the September contract -

1123.80 and 1123.70 day channels also 1123.60 and 1123.50 base (major area) / 1122.90 and 1122.60 minor day channel and 1122.50 weekly bottom also 1121.80 weekly bottom (major area) / 1120.50 day bottom and 1119.80 monthly closing price (major area) / 1116.30 long-term major monthly channel (very major area) / 1114.30 day gap and 1112.50 weekly chart's bottom also 1112.10 long-term major day channel and 1112 day bottom (very major area) / 1109 day bottom and 1107.50 minor day channel (major area) / 1101.20 monthly channel (very major area) / 1098.60 and 1096.50 weekly channels (very major area) / 1090.30 minor monthly channel and 1090 weekly chart's bottom also 1089.50 Sept. chart's weekly bottom (very major area) / 1084.50 day bottom and 1184.20 minor monthly bottom also 1183.40 minor weekly bottom (major area) / 1078.20 and 1075.30 weekly chart's bottoms also 1077.50 and 1075 Sept. chart's weekly bottoms (very major area).

Comments:

The double bottom support at 1122.50 made on Friday's session is showing signs of support but the sell-off from the major resistance area proved to close on Friday lower then the last three weeks closes, leaving the chart in neutral to bearish territory. A trade above 1128.40 - 1130.50 area can challenge the 1136.20 area and possibly near 1139 - 1140.80 area. Only a trade above 1142.40 - 1143.50 area and 1145.20 monthly channel can bring any solid bullishness back to the chart. A trade below 1123.70 - 1122.60 area is bearish but a trade below 1116.30 monthly channel will confirm the beginning of the major downtrend. Remain defensive inside the first trade range between 1128.40 - 1130.50 resistance and 1123.70 - 1122.60 support area.

Day trades: For The September contract -

Aggressive traders can sell rallies near 1126 - 1128.40 area and if possible near 1130.50 for obj. near 1124 - 1123.70 area and possibly near 1122.90. (Use a protective buy stop at 1132. Do not rev. long).

Aggressive traders can sell rallies near 1135.50 - 1136.20 area and if possible near 1138 for obj. near 1133 - 1131 area and possibly near 1129. (Use a buy stop and rev. long at 1149.70). (Conservative traders can use a protective buy stop at 1141. Do not rev. long). NOTE: Additional short positions can be added near 1143.50 - 1145.20 area. (Continue to use a buy stop and rev. long at 1149.70).

Buy stop at 1149.70 for obj. near 1153 - 1155.70 and possibly near 1157.70.

Sell stop at 1119 for obj. near 1117 - 1116.30 area.

Sell stop at 1115.70 for obj. near 1114.30 gap - 1112.50 area and possibly near 1112.10.

Sell stop at 1108 for obj. near 1103.50 - 1101.20 area.

Bulletin - Originally sent 07/06/04 (11:58 am est)

The sell stop at 1119 was hit putting traders into short positions. The sell-off down to 1117 meets the obj. and completes the trade.

The sell stop at 1115.70 was hit putting traders into short positions. The sell-off down to 1114.30 meets the obj. and completes the trade.

Results: 07/06/04

Sold @ 1119	Bought @ 1117	= + $ 500.00
Sold @ 1115.70	Bought @ 1114.30	= + $ 350.00
TOTAL (P & L)		+ $ 850.00

thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Wednesday 07-07-04: 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.

Resistance: For the September contract -

1115.70 and 1115.90 peaks also 1116.50 minor day channel without GBX prices (major area) / 1119 intra-day channel and 1119.20 peak also 1120.50 peak and 1120.80 day top (major area) / 1123.90 GBX channel and 1124.40 day channel without GBX prices also 1125.80 weekly closing gap (very major area) / 1128.80 GBX top and 1129.30 day top also 1130.50 peak (major area) / 1135.20 weekly closing price and 1136.20 peaks (major area) / 1139.90 minor day channel with GBX prices and 1140.20 monthly channel also 1140.40 day top (very major area) / 1141.60 minor day channel and 1142.40 long-term major weekly channel without GBX prices also 1142.60 minor weekly channel without GBX prices (very major area) / 1143.50 long-term major weekly channel with GBX prices and 1144.40 day top also 1144.80 minor weekly channel with GBX prices and 1145.20 monthly channel also 1145.40 minor weekly channel (very major area) / 1146.20 weekly double top and 1148.10 Sept. contract's weekly top (major area).

Support: For the September contract -

1114.30 base and 1114.20 rev. channel also 1113.10 long-term major day channel (very major area) / 1112.50 double bottom to the weekly chart and 1112 day bottom also 1110.90 long-term major weekly channel (very major area) / 1109 day bottom and 1108.30 minor day channel (major area) / 1101.20 monthly channel (very major area) / 1098.60 and 1096.50 weekly channels (very major area) / 1090.30 minor monthly channel and 1090 weekly chart's bottom also 1089.50 Sept. chart's weekly bottom (very major area) / 1084.50 day bottom and 1084.20 minor monthly bottom also 1083.40 minor weekly bottom (major area) / 1078.20 and 1075.30 weekly chart's bottoms also 1077.50 and 1075 Sept. chart's weekly bottoms (very major area).

Comments:

The sell-off on Tuesday brought prices down to close below the 1116.30 major monthly channel, which puts the monthly chart in bearish territory and the major trend down. A trade above 1116.50 can challenge the 1119 channel and above 1119.20 can challenge the 1123.90 and 1124.40 channels. Only a trade above 1124.40 can bring some bullishness back to the chart for prices to challenge the 1128.80 - 1130.50 area and possibly near the 1136 - 1139 area. A trade below 1113.10 and 1110.90 channels are bearish but a trade below 1101.20 monthly channel will confirm the downtrend intact for lower prices. Remain defensive inside the first trading range between the 1116.50 and 1119 resistance areas and the 1113.10 and 1110.90 support areas.

Day trades: For The September contract -

Aggressive traders can sell rallies near 1116 - 1118 area for obj. near 1114 - 1113.10 area. (Use a protective buy stop at 1120.90. Do not rev. long).

Aggressive traders can sell rallies near 1123 - 1124.40 area, if it gets there, for obj. near 1119 - 1117 area. (Use a buy stop and rev. long at 1131).

Buy stop at 1131 for obj. near 1134 - 1136 area.

Buy stop at 1136.70 for obj. near 1138.70 - 1139 area and possibly near 1140.20.

Sell stop at 1112.40 for obj. near 1111.20 - 1110.90 area.

Sell stop at 1107.30 for obj. near 1103.30 - 1101.20 area.

Sell stop at 1100 for obj. near 1098.60 - 1096.50 area.

Bulletin - Originally sent 07/07/04 (11:48 am est)

The rally up to 1116 - 1118 area put traders into short positions. The sell-off down to 1114.80 is near enough to the 1114 obj. and completes the trade.

Bulletin - Originally sent 07/07/04 (3:29 pm est)

The rally up to 1122 was near enough to the 1123 sell area putting traders into short positions. The sell-off down to 1118 meets the obj. and completes the trade.

Results: 07/07/04

Sold @ 1117	Bought @ 1115	= + $ 500.00 bought as per bulletin
Sold @ 1121.70	Bought @ 1118	= + $ 925.00
TOTAL (P & L)		+ $1,425.00

thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Thursday 07-08-04: 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.

Resistance: For the September contract -

1119 GBX channel and 1120.10 intra-day channel also 1120.40 day channel without GBX prices (very major area) / 1121.80 day top and 1122.50 rev. base (major area) / 1125.80 weekly closing gap (major) / 1128.80 GBX top and 1129.30 day top also 1130.50 peak (major area) / 1135.20 weekly closing price and 1136.20 peak (major area) / 1139 minor day channel and 1140.20 monthly channel also 1140.40 day top (very major area) / 1141.10 minor day channel and 1142.40 long-term major weekly channel without GBX prices also 1142.60 minor weekly channel without GBX prices (very major area) / 1143.20 minor day channel and 1143.50 long-term major weekly channel with GBX prices also 1144.40 day top and 1144.80 minor weekly channel with GBX prices also 1145.20 monthly channel (very major area).

Support: For the September contract -

1117.30 intra-day channel and 1117.10 base (major area) / 1115.50 and 1115.30 minor day channels also 1114.10 long-term major day channel and 1114 day bottom and 1113.90 GBX bottom (very major area) / 1112.50 double bottom to the weekly chart and 1112 day bottom also 1110.90 long-term major weekly channel (very major area) / 1109.20 minor day channel and 1109 day bottom (major area) / 1101.20 monthly channel (very major area) / 1098.60 and 1096.50 weekly channels (very major area) / 1090.30 minor monthly channel and 1090 weekly chart's bottom also 1089.50 Sept. chart's weekly bottom (very major area) / 1084.50 day bottom and 1084.20 minor monthly bottom also 1083.40 minor weekly bottom (major area) / 1078.20 and 1075.30 weekly chart's bottoms also 1077.50 and 1075 Sept. chart's weekly bottoms (very major area).

Comments:

Wednesday's trading range remained below the major resistance and closing below Thursday's channels at 1119 and 1120.40 area, leaves the chart in bearish territory. A trade above 1119 - 1120.40 area is slightly bullish but only a trade above the 1128.80 - 1130.50 area can bring any significant bullishness back to the chart. A trade above 1145.20 will bring the uptrend back into play. A trade below 1115.50 - 1114.10 area is bearish but a trade below 1110.90 - 1109.20 area can bring prices down to challenge the 1101.20 major support. A trade below 1101.20 will confirm the downtrend intact for lower prices. Remain defensive inside the major trading range between 1119 - 1120.40 resistance and 1110.90 - 1109.20 support area. The market already fail the 1114.10 channel support in the GBX session, while this report is being written, putting additional bearishness into the chart at this time.

Day trades: For The September contract -

Aggressive traders can sell rallies near 1119 - 1120.40 area, if it gets there again, for obj. near 1115.50 - 1114.10 area. (Use a buy stop and rev. long at 1123.50).

Buy stop at 1123.50 for obj. near 1125 - 1125.80 gap area.

Buy stop at 1131.50 for obj. near 1134 - 1136 area.

If the market opens above 1117 - Sell stop at 1117 for obj. near 1115.50 - 1114.10 area.

If the market opens above 1114.10 - Sell stop at 1113.80 for obj. near 1112 - 1110.90 area.

Sell stop at 1108 for obj. near 1104 - 1101.20 area.

Sell stop at 1100 for obj. near 1098.60 - 1096.50 area.

Bulletin - Originally sent 07/08/04 (10:12 am est)

The sell stop at 1113.80 was hit, putting traders into short positions. The sell off down to 1112 meets the obj. and completes the trade.

Bulletin - Originally sent 07/08/04 (11:36 am est)

The rally up to 1118.80 is near enough to the 1119 sell area, putting traders into short positions. The obj. remains near 1115.50 - 1114.10 area. (Continue to use a buy stop and rev. long at 1123.50).

Bulletin - Originally sent 07/08/04 (12:27 pm est)

Short positions were taken at 1118.80. The sell off down to 1116.50 is showing signs of support and is near enough to the 1115.50 obj. to complete the trade.

Results: 07/08/04

Sold @ 1113.80	Bought @ 1112	= + $ 450.00
Sold @ 1118.80	Bought @ 1116.60	= + $ 550.00
Sold @ 1108.	Bought @ 1110.70	= - $ 675.00
TOTAL (P & L)		+ $ 325.00

thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Friday 07-09-04: 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.

Resistance: For the September contract -

1111.70 peak and 1112.80 Intra-day channel (major area) / 1114 peak and 1114.10 GBX channel also 1114.30 peak (major area) / 1115.20 intra-day channel and 1115.50 peak also 1115.80 peak and 1116.20 minor day channel and 1110.40 day channel without GBX prices (very major area) / 1117.30 and 1117.70 peaks also 1118 intra-day channel and 1119 day top (major area) /1121.80 day top and 1122.50 rev. base (major area) / 1125.80 weekly closing gap (major) / 1128.80 GBX top and 1129.30 day top also 1130.50 peak (major area) / 1135.20 weekly closing price and 1136.20 peak (major area) / 1138.10 minor day channel (major) / 1140.20 monthly channel and 1140.40 day top also 1140.50 minor day channel (very major area) / 1142.40 long-term major weekly channel without GBX prices also 1142.60 minor weekly channel without GBX prices (very major area) /1143.50 long-term major weekly channel with GBX prices also 1144.40 day top and 1144.80 minor weekly channel with GBX prices also 1145.20 monthly channel (very major area).

Support: For the September contract -

1108.80 newly developed day channel and 1108 day bottom (major area) / 1105.70 minor down channel (major) / 1102.50 down channel and 1101.20 monthly channel (very major area) / 1098.60 and 1096.50 weekly channels (very major area) / 1090.30 minor monthly channel and 1090 weekly chart's bottom also 1089.50 Sept. chart's weekly bottom (very major area) / 1084.50 day bottom and 1084.20 minor monthly bottom also 1083.40 minor weekly bottom (major area) / 1078.20 and 1075.30 weekly chart's bottoms also 1077.50 and 1075 Sept. chart's weekly bottoms (very major area).

Comments:

The sell-off on Thursday brought prices below the 1110.90 and 1109.20 resistance areas and also managed to close below the daily down channels, now at 1114.10 and 1116.40, leaving the chart in bearish territory. A trade above 1114.10 and 1116.40 can bring prices up to challenge the 1117.70 - 1119 area and possibly near the 1125.80 weekly closing gap. NOTE: Only a trade above 1128.80 - 1130.50 can bring any significant bullishness back to the chart and only a trade above 1145.20 can bring the uptrend back into play. A trade below 1108.80 - 1108 area is bearish and a trade below 1101.20 will confirm the downtrend intact for lower prices. Remain defensive inside the first trading range between 1112.80 - 1114.10 resistance and 1108.80 - 1108 support and also 1116.40 to 1105.70 trading area.

Day trades: For The September contract -

Aggressive traders can sell rallies near 1112.50 - 1114.10 area for obj. near 1110 - 1108 area. (Use a protective buy stop at 1114.70. Do not rev. long).

Aggressive traders can sell rallies near 1116.40 - 1117.70 area for obj. near 1114.50 - 1113.20 area. (Use a buy stop and rev. long at 1120.30).

Buy stop at 1120.30 for obj. near 1123 - 1125.80 gap area.

Buy stop at 1131.50 for obj. near 1134 - 1136 area.

Sell stop at 1107.30 for obj. near 1106 - 1105.70 area.

Sell stop at 1104.70 area for obj. near 1102.70 - 1101.20 area.

Sell stop at 1100 for obj. near 1098.60 - 1096.50 area and possibly near 1094.

Bulletin - Originally sent 07/09/04 (9:49 am est)

Long positions were taken on the open at 1113.50. The rally up to 1114.70 met the buy stop completing the trade with a small loss.

The rally up to 1115.50 is near enough to the 1116.40 sell area, putting traders into short positions. The sell off down to 1113.60 meets the obj. and completes the trade.

Results: 07/09/04

Sold @ 1113.30	Bought @ 1114.70	= - $ 350.00
Sold @ 1115	Bought @ 1113.60	= + $ 350.00
Sold @ 1114.	Bought @ 1111	= + $ 750.00
TOTAL (P & L)		+ $ 750.00

The week in review - 07/12/04 - 07/16/04

The Tech Guru's S & P Day Trading Recommendations

thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Monday 07-12-04: NOTE: After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value. Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area. The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.

Resistance: For the September contract -

1113.40 minor day channel and 1113.50 peak also 1114.20 peak and 1114.30 minor day channel without GBX prices (very major area) / 1115.10 peak and 1115.30 day top also 1115.50 and 1115.80 peaks (major area) / 1117.70 peak and 1119 day top (major area) / 1121.80 day top and 1122.50 rev. base (major area) / 1125.80 weekly closing gap (major area) / 1128.80 GBX top and 1129.30 day top also 1130.50 peak (major area) / 1135.20 weekly closing price and 1136.20 peak also 1137.20 minor day channel (major area) / 1140.20 monthly channel and 1140.40 long-term major weekly channel without GBX prices and 1140.40 day top also 1140.80 minor weekly channel and 1141.50 long-term major weekly channel with GBX prices (very major area) / 1142.60 minor day channel and 1143.50 GBX top (major area) / 1144.40 weekly top and 1145.20 monthly channel also 1145.50 GBX weekly top and 1146.20 major double top (very major area).

Support: For the September contract -

1112.60 newly developed long-term major weekly channel and 1112.20 weekly channel also 1112 minor day channel and 1111.50 base (very major area) / 1110 day bottom and 1109.90 newly developed long-term major day channel also 1109.60 and 1109.20 day channels and 1108 weekly bottom (very major area) / 1103.50 minor daily down channel (major) / 1101.80 weekly channel and 1101.20 monthly channel (very major area) / 1099.50 major day channel and 1099.10 weekly channel (major area) / 1093.50 minor weekly down channel (major) / 1090.30 minor monthly channel and 1090 weekly chart's bottom also 1089.50 Sept. chart's weekly bottom (very major area) / 1084.50 day bottom and 1084.40 minor weekly channel also 1084.20 minor monthly channel (major area) / 1078.20 and 1075.30 weekly chart's bottoms also 1077.50 and 1075 Sept. chart's weekly bottoms (very major area).

Comments:

Friday's narrow trading range remained inside the first daily neutral area but managed to close down for the week leaving the chart neutral to bearish. A trade below 1112.60 - 1112 area is bearish but a trade below 1109.90 - 1109.20 channel areas and 1108 bottom can bring prices down to challenge the 1101.80 and 1101.20 major support area. A trade below 1101.20 will confirm the downtrend intact for lower prices. A trade today above 1114.30 - 1115.30 area is slightly bullish. A trade above 1119 - 1121.80 area can bring prices up to challenge the 1125.80 gap - 1128.80 GBX top and possibly can trade up near 1135.20 but only a trade above 1137.20 - 1140.20 areas can bring any solid bullishness back to the chart. Remain defensive inside the first trading range between 1114.30 - 1115.30 resistance and 1112.60 - 1109.20 support area.

Day trades: For The September contract -

Aggressive traders can sell rallies near 1114 - 1115 area for obj. near 1112.60 - 1111.50 area and possibly near 1110 - 1109.60 area (Use a buy stop and rev. long at 1116.30).

Buy stop at 1116.30 for obj. near 1117.50 - 1118.50 area and possibly near 1119 top.

Buy stop at 1120.30 for obj. near 1122 - 1122.50 area and possibly near 1125.80 gap area.

Buy stop at 1131 for obj. near 1134 - 1135 area and possibly near 1136 - 1137 area.

Sell stop at 1107.70 for obj. near 1104.70 - 1103.50 area.

Sell stop at 1103.30 for obj. near 1101.80 - 1101.20 area.

Sell stop at 1198 for obj. near 1094.50 - 1093.50 area.

Sell stop at 1093 for obj. near 1091 - 1090.30 area.

Sell stop at 1088 for obj. near 1085 - 1084.20 area.

Results: 07/12/04

Sold @ 1113	Bought @ 1111.50	= + $ 375.00
Sold @ 1107.70	Bought @ 1113.30	= - $1,400.00
Sold @ 1114	Bought @ 1112	= + $ 500.00
Sold @ 1115	Bought @ 1112.80	= + $ 550.00
TOTAL (P & L)		+ $ 25.00

thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Tuesday 07-13-04: NOTE: After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value. Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area. The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.

Resistance: For the September contract -

1113.80 and 1114.60 intra-day channels also 1114, 1114.30 and 1114.80 minor day channels (very major area) / 1115.20 peak and 1116.20 day top also 1117.70 peak (major area) / 1118.10 day session closing price and 1119 day top (major area) / 1121.80 day top and 1122.50 rev. base (major area) / 1125.80 weekly closing gap (major area) / 1128.80 GBX top and 1129.30 day top also 1130.50 peak (major area) / 1135.20 weekly closing price and 1136.20 peak also 1136.30 minor day channel (major area) / 1140.20 monthly channel and 1140.40 long-term major weekly channel without GBX prices and 1140.40 day top also 1140.80 minor weekly channel and 1141.50 long-term major weekly channel with GBX prices (very major area) / 1142.60 minor day channel and 1143.50 GBX top (major area) / 1144.40 weekly top and 1145.20 monthly channel also 1145.50 GBX weekly top and 1146.20 major double top (very major area).

Support: For the September contract -

1112.70 and 1111.80 base area (major area) / 1109.50 and 1109 rev. peak (major area) / 1107.10 newly developed long-term major day channel also 1106.90 and 1106.70 day channels also 1105.30 minor down channel (very major area) / 1101.80 weekly channel and 1101.20 monthly channel (very major area) / 1100.10 major day channel and 1099.10 weekly channel (major area) / 1093.50 minor weekly down channel (major) / 1090.30 minor monthly channel and 1090 weekly chart's bottom also 1089.50 Sept. chart's weekly bottom (very major area) / 1084.50 day bottom and 1084.40 minor weekly channel also 1084.20 minor monthly channel (major area) / 1078.20 and 1075.30 weekly chart's bottoms also 1077.50 and 1075 Sept. chart's weekly bottoms (very major area).

Comments:

The rally on Monday, came to a bit surprise, but after some research it was found the Dow and NASDAQ hit their major weekly support area at the time the S & P hit the low, and simultaneously, stimulated rallies across the board in all three markets. The S & P close higher then the last two days after making new lows, which is technically considered a minor key reversal and slightly bullish. But because the market closed down for two weeks in a row and also closed below the major monthly channel last Tuesday, at 1116.30, it keeps the downtrend intact but leaves the chart totally neutral at this time. A trade today above the 1114, 114.30 and 1114.80 minor channels is slightly bullish but prices a trade above the 1119 and 1121.80 tops can challenge the 1125.80 gap and possibly near 1128.80 - 1130.50 area. Only a trade above 1140.20 and 1145.20 can bring any solid bullishness back to the chart. A trade below 1101.20 will confirm the major downtrend intact for lower prices. Remain defensive inside the first narrow neutral range between 1114 - 1112.60 and 1116.20 - 1107.10 area.

Day trades: For The September contract -

Aggressive traders can sell rallies near 1114 - 1116 area or buy dips near 1112.60 - 1109.90 area, whichever side comes first to complete the trade. (Use a buy stop and rev. long at 1117.80). (Use a sell stop and rev. short at 1105).

Buy stop at 1117.80 for obj. near 1119.80 - 1122 area.

Buy stop at 1123.70 for obj. near 1125 - 1125.80 gap.

Buy stop at 1131 for obj. near 1134 - 1136.30 area.

Sell stop at 1105 for obj. near 1102.50 - 1101.20 area.

Sell stop at 1098 for obj. near 1094.50 - 1093.50 area.

Sell stop at 1088 for obj. near 1085.50 - 1084.20 area.

Bulletin - Originally sent 07/13/04 (12:04 pm est)

Short positions were taken at 1115. The sell-off down to 1112.60 meets the obj. and completes the trade.

Bulletin - Originally sent 07/13/04 (1:14 pm est)

The rally up to 1115 put traders into short positions again. The sell off down to 1112.60 meets the obj. and completes the trade for the second time.

Results: 07/13/04

Sold @ 1115	Bought @ 1112.60	= + $ 600.00
Bought @ 1112.60	Sold @ 1115	= + $ 600.00
Sold @ 1115	Bought @ 1112.60	= + $ 600.00
Bought @ 1112.60	Sold @ 1115	= + $ 600.00
TOTAL (P & L)		+ $2,400.00

thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Wednesday 07-14-04: 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.

Resistance: For the September contract -

1114.50 and 1115 newly developed minor day channels also 1116 and 1116.20 day tops (very major area) / 1118.10 day session closing price and 1119 day top (major area) / 1121.80 day top and 1122.50 rev. base (major area) / 1125.80 weekly closing gap (major area) / 1128.80 GBX top and 1129.30 day top also 1130.50 peak (major area) / 1135.20 weekly closing price and 1135.40 minor day channel also 1136.20 peak (major area) / 1140.20 monthly channel and 1140.40 long-term major weekly channel without GBX prices and 1140.40 day top also 1140.80 minor weekly channel and 1141.50 long-term major weekly channel with GBX prices (very major area) / 1142.60 minor day channel and 1143.50 GBX top (major area) / 1144.40 weekly top and 1145.20 monthly channel also 1145.50 GBX weekly top and 1146.20 major double top (very major area).

Support: For the September contract -

1112.70 and 1112.50 base area also 1112.30 day bottom and 1111 GBX bottom (major area) / 1108.10 long-term major day channel and 1107.60 day channel also 1107.20 day channel (very major area) / 1106.20 day bottom and 1104.40 minor down channel (major area) / 1101.80 weekly channel and 1101.20 monthly channel (very major area) / 1100.70 major day channel and 1099.10 weekly channel (major area) / 1093.50 minor weekly down channel (major) / 1090.30 minor monthly channel and 1090 weekly chart's bottom also 1089.50 Sept. chart's weekly bottom (very major area) / 1084.50 day bottom and 1084.40 minor weekly channel also 1084.20 minor monthly channel (major area) / 1078.20 and 1075.30 weekly chart's bottoms also 1077.50 and 1075 Sept. chart's weekly bottoms (very major area).

Comments:

Tuesday's session remained inside the narrow neutral range proving the total neutral condition in the chart that still remains at this time. A trade above 1114.50 - 1115 day channels and 1116.20 day top is slightly bullish that can bring prices up to challenge the 1119 and 1121.80 day tops and possibly near the 1125.80 weekly gap. NOTE: Only a trade above 1140.20 and 1145.20 can bring any solid bullishness back to the chart. A trade below 1108.10 - 1107.20 channels are bearish and can bring prices down to challenge the 1101.80 and 1101.20 major supports. A trade below 1101.20 monthly channel will confirm the major downtrend intact for lower prices. Remain defensive inside the first trading range between 1114.50 - 1115 resistance and 1108.10 - 1107.20 support area until the market can prove a breakout to either side.

Day trades: For The September contract -

Aggressive traders can sell rallies near 1114 - 1115 area or, if the market gaps down on the open, sell near 1112.70 for obj. near 1109 - 1108.10 area and possibly near 1107.20. (Use a buy stop and rev. long at 1117.80).

Buy stop at 1117.80 for obj. near 1120 - 1122 area.

Buy stop at 1122.70 for obj. near 1124 - 1125.80 gap.

Buy stop at 1131 for obj. near 1134 - 1136 area.

Sell stop at 1110.90 for obj. near 1109 - 1108.10 area and possibly near 1107.20.

Sell stop at 1105.90 for obj. near 1104.40 - 1101.80 area and possibly near 1101.20.

Sell stop at 1098 for obj. near 1094.50 - 1093.50 area.

Sell stop at 1088 for obj. near 1085.50 - 1084.20 area.

Bulletin - Originally sent 07/14/04 (12:04 pm est)

The rally up to 1111.20 is near enough to the 1112.70 sell area, putting traders into short positions. The obj. remains near 1109 - 1108.10 area. Continue to look to sell near 1114 - 1115 area, using a buy stop and rev. long at 1117.80.

Bulletin - Originally sent 07/14/04 (11:08 am est)

1117.80 buy stop was hit, putting traders into long positions. The market is showing signs of resistance that can prevent the obj. near 1120 from being met.

It is recommended for traders to exit the long position and rev. short at the market, which is trading at 1117 at this time. (Use a buy stop and rev. long at 1119.50). The obj. for the buy stop at 1119.50 will be near 1122 - 1124 area.

Bulletin - Originally sent 07/14/04 (11:47 am est)

The buy stop at 1119.50 was hit, putting traders into long positions. The market continues to show signs of resistance in this area and overbought conditions that can prevent the obj. from being met.

It is recommended for traders to exit long positions at the market, which is trading at 1118.50 and cut losses.

Bulletin - Originally sent 07/14/04 (2:56 pm est)

Short positions were re-entered at 1119 again. The sell-off down to 1109.30 is near enough to the 1109 obj. and completes the trade.

Results: 07/14/04

Sold @ 1111.20	Bought @ 1117.70	= - $1,625.00
Sold @ 1114.50	Bought @ 1117.70	= - $ 925.00
Bought @ 1117.70	Sold @ 1117	= - $ 175.00 sold as per bulletin
Sold @ 1117	Bought @ 1119.50	= - $ 625.00 sold as per bulletin
Bought @ 1119.50	Sold @ 1118.50	= - $ 250.00
Sold @ 1119	Bought @ 1109.50	= + $4,750.00
TOTAL (P & L)		+ $1,150.00

thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Thursday 07-15-04: 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.

Resistance: For the September contract -

1111.80 and 1112.40 peaks (major area) / 1114.80 and 1115 peaks also 1115.20 intra-day channel (major area) / 1117 day channel with GBX prices (very major area) / 1118.20 and 1118.50 minor day channels also 1119 peak and 1119.30 minor day channel also 1119.70 day top (very major area) / 1121.80 day top and 1122.50 rev. base (major area) / 1125.80 weekly closing gap (major area) / 1128.80 GBX top and 1129.30 day top also 1130.50 peak (major area) / 1134.50 minor day channel and 1135.20 weekly closing price (major area) / 1139.40 minor day channel (major area) / 1140.20 monthly channel and 1140.40 long-term major weekly channel without GBX prices and 1140.40 day top also 1140.80 minor weekly channel and 1141.50 long-term major weekly channel with GBX prices also 1141.70 minor day channel (very major area) / 1142.60 minor day channel and 1143.50 GBX top (major area) / 1144.40 weekly top and 1145.20 monthly channel also 1145.50 GBX weekly top and 1146.20 major double top (very major area).

Support: For the September contract -

1109.20 base (major) / 1108.10 newly developed long-term major day channel and 1107.60 day channel (very major area) / 1107.20 day bottom and 1106.10 day bottom (major area) / 1103.50 minor down channel (major) / 1101.80 weekly channel and 1101.20 monthly channel (very major area) / 1099.10 weekly channel (major) / 1093.50 minor weekly down channel (major) / 1090.30 minor monthly channel and 1090 weekly chart's bottom also 1089.50 Sept. chart's weekly bottom (very major area) / 1084.50 day bottom and 1084.40 minor weekly channel also 1084.20 minor monthly channel (major area) / 1078.20 and 1075.30 weekly chart's bottoms also 1077.50 and 1075 Sept. chart's weekly bottoms (very major area).

Comments:

The whiplashing action on Wednesday is a common technical occurrence whenever a neutral condition develops. Since the market made new highs for the week and closed lower then the last three days closing prices it is considered a minor reversal to the downside and puts some bearishness back into the neutral condition for possible lower prices to now develop. A trade above the 1117 and 1119.30 channels can bring prices up to challenge the 1125.80 weekly gap and possibly near the 1128.80 - 1130.50 area. But only a trade above the 1140.20 and 1145.20 major channels can bring any solid bullishness back to the chart. A trade today below 1108.10 - 1107.60 is bearish and below 1101.20 will confirm the downtrend intact for lower prices. Remain defensive inside the first major trading range between 1117 and 1108.10 area until the market can breakout to either side of this neutral to slightly bearish condition.

Day trades: For The September contract -

Aggressive traders can sell rallies near 1113.70 - 1115.20 area and if possible near 1117 for obj. near 1110 - 1108.10 area. (Use a buy stop and rev. long at 1122.80).

Buy stop at 1122.80 for obj. near 1124.80 - 1125.80 area.

Buy stop at 1131 for obj. near 1133 - 1135 area.

Sell stop at 1105.90 for obj. near 1103.70 - 1101.80 area and possibly near 1101.20.

Sell stop at 1098 for obj. near 1094.50 - 1093.50 area.

Sell stop at 1088 for obj. near 1085.50 - 1084.20 area.

Bulletin - Originally sent 07/15/04 (10:07 am est)

Short positions were taken at 1113.70. The sell-off down to 1110.80 is near enough to the 1110 obj. and completes the trade.

Bulletin - Originally sent 07/15/04 (1:44 pm est)

Short positions were taken again at 1115. The sell-off down to 1110.50 is near enough to the 1110 obj. and completes the trade.

Results: 07/15/04

Sold @ 1113.50	Bought @ 1110.80	= + $ 725.00
Sold @ 1113.70	Bought @ 1109	= + $1,175.00
Sold @ 1114.50	Bought @ 1110.50	= + $1,000.00
Sold @ 1105.90	Bought @ 1103.70	= + $ 550.00
TOTAL (P & L)		+ $3,450.00

thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Friday 07-16-04: 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.

Resistance: For the September contract -

1105.20 and 1105.80 intra-day channels (major area) / 1106.20 and 1107.20 peaks also 1107 and 1107.30 intra-day channels (major area) / 1109.50 intra-day channel and peak also 1109.70 day channel and 1110.40 peak (very major area) /1112 peak and 1112.50 intra-day channel (major area) / 1114.40 day channel with GBX prices and 1114.40 peak also 1114.70 day top and 1115 peak (very major area) / 1116.70 minor day channel and 1116.80 peak also 1117.30 minor day channel without GBX prices (major area) / 1118.90 minor day channel and 1119 peak also 1119.70 day top (major area) / 1121.80 day top and 1122.50 rev. base (major area) / 1125.80 weekly closing gap (major area) / 1128.80 GBX top and 1129.30 day top also 1130.50 peak (major area) / 1133.60 minor day channel and 1135.20 weekly closing price (major area) / 1139 minor day channel (major area) / 1140.20 monthly channel (very major area) / 1145.20 monthly channel and 1146.20 major double top (very major area).

Support: For the September contract -

1102.20 minor down channel and 1101.80 weekly channel also 1101.20 monthly channel (very major area) / 1099.10 weekly channel (major) / 1093.50 minor weekly down channel (major) / 1090.30 minor monthly channel and 1090 weekly chart's bottom also 1089.50 Sept. chart's weekly bottom (very major area) / 1084.50 day bottom and 1084.40 minor weekly channel also 1084.20 minor monthly channel (major area) / 1078.20 and 1075.30 weekly chart's bottoms also 1077.50 and 1075 Sept. chart's weekly bottoms (very major area) / 1065.20 Sept. chart's weekly bottom (major area) / 1055.80 Sept. chart's monthly closing price and 1053 monthly bottom (very major area).

Comments:

The sell-off on Thursday had developed as expected leaving the chart bearish but also bringing prices down near a very major support area. A trade below the 1101.80 and 1101.20 major supports will confirm the downtrend intact for lower prices. A trade today above 1109.50 - 1109.70 channels can bring prices up to challenge the 1112.50 - 1114.40 area and possibly near the 1116.70 - 1117.30 channels. Only a trade above 1117.30 and 1118.90 can bring some bullishness back to the chart and a close on Friday above 1118 will be bullish enough for high prices to develop for next week. Remain defensive inside the first narrow trading range between 1105.80 and 1102.20 area and also between the first major area from 1109.70 to 1101.20.

Day trades: For The September contract -

Aggressive traders can sell rallies near 1105 - 1105.80 area and if possible near 1107.30 for obj. near 1102.50 - 1102.20 area and possibly near 1101.20. (Use a protective buy stop at 1108.30. Do not rev. long).

Aggressive traders can sell rallies near 1109.50 - 1109.70 area for obj. near 1106.70 - 1105.70 area. (Use a buy stop and rev. long at 1110.70).

Aggressive traders can sell rallies near 1114 - 1114.40 area and if possible near 1116.70 - 1117.30 area for obj. near 1112 - 1110.70 area. (Use a buy stop and rev. long at 1122.80).

Buy stop at 1110.70 for obj. near 1112 - 1112.50 area and possibly near 1114 - 1114.40 area.

Buy stop at 1122.80 for obj. near 1124.80 - 1125.80 gap area.

Sell stop at 1100.70 for obj. near 1099.70 - 1099.10 area.

Sell stop at 1098 for obj. near 1094.50 - 1093.50 area.

Sell stop at 1088 for obj. near 1085.50 - 1084.20 area.

Very aggressive traders can attempt long positions near 1090.50 - 1089.50 area for obj. near 1093.50 - 1094.50 area. (Use a sell stop and rev. short at 1088).

Bulletin - Originally sent 07/16/04 (8:58 am est)

Since the GBX session brought prices above the first two resistance areas the first aggressive trade listed to sell near 1105 - 1105.80 and 1107.30 is now cancelled.

Note: If the day session opens above 1109.70 then the second aggressive trade listed to sell near 1109.50 - 1109.70 will be cancelled also.

Results: 07/16/04

Sold @ 1107.30	Bought @ 1102.50	= + $1,200.00
Sold @ 1100.70	Bought @ 1102.80	= - $ 525.00
TOTAL (P & L)		+ $ 675.00

The week in review - 07/19/04 - 07/23/04

The Tech Guru's S & P Day Trading Recommendations

thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Monday 07-19-04: NOTE: After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value. Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area. The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.

Resistance: For the September contract -

1104.40 and 1104.80 peaks also 1104.90 intra-day channel (major area) / 1106.80 weekly channel and 1107.40 weekly channel without GBX prices also 1107.50 and 1107.80 peaks also 1108.10 minor day channel and 1108.50 peak (very major area) / 1109.20 peak and 1109.30 minor day channel (major area) / 1110.60 minor weekly channel and 1111 peak also 1111.70 day channel with GBX prices and 1112 day top also 1112.30 day channel without GBX prices (very major area) / 1114.40 peak and 1114.70 day top also 1115.10 day channel and 1116.10 day channel without GBX prices (very major area) / 1117.60 minor weekly channel without GBX prices and 1118.40 minor day channel (major area) / 1119.70 weekly top (major) / 1121.80 weekly top and 1122.50 rev. base (major area) / 1125.80 weekly closing gap (major area) / 1128.80 GBX weekly top and 1129.30 day top also 1130.50 peak (major area) / 1132.70 minor day channel (major) / 1138.50 and 1139.60 long-term major weekly channels, without and with GBX prices also 1140.20 monthly channel (very major area) / 1144.30 minor monthly channel and 1145.20 monthly channel also 1146.20 major double top (very major area).

Support: For the September contract -

1101.80 weekly channel and 1101.80 base (very major area) / 1100.20 weekly bottom also 1098.90 and 1098.70 newly developed minor down channels (major area) / 1092.40 minor monthly down channel and 1092.20 daily down channel also 1091.80 weekly closing price (major area) / 1090.30 minor monthly channel and 1090 weekly chart's bottom also 1089.50 Sept. chart's weekly bottom (very major area) / 1085.40 minor weekly channel and 1084.50 day bottom also 1084.20 minor monthly channel (very major area) / 1079.90 minor day channel and 1079 minor weekly down channel also 1078.20 weekly chart's bottom (major area) / 1077.50 and 1075 Sept. chart's weekly bottoms (very major area) / 1065.20 Sept. chart's weekly bottom (major) / 1061.40 major weekly down channel (major area) / 1055.80 Sept. chart's monthly closing price and 1053 monthly bottom (very major area).

Comments:

The sell-off on Friday managed to trade below the 1101.20 monthly channel confirming the downtrend intact and closing in bearish territory. Rallies up to any of the major resistances should be considered a selling opportunity. A trade above 1118.50 day channel is slightly bullish and can bring prices up to challenge near the 1125.80 weekly gap. NOTE: Only a trade above the 1139.80 and 1140.20 channels can put any solid bullishness back into the chart. Remain defensive inside the first major trading range between 1106.80 and 1101.80 area.

Day trades: For The September contract -

Aggressive traders can sell rallies near 1104 - 1106.80 area and if rallies continue sell again near

1107.40 - 1109.30 area and if possible near 1110.60 - 1111.70 area for obj. near 1102.20 - 1101.80 area and possibly near 1100.20 bottom. (Use a protective buy stop at 1112.70. Do not rev. long).

Aggressive traders can sell rallies near 1114 - 1115.10 area and if possible near 1117.60 - 1118.40 area for obj. near 1109.50 - 1107.50 area. (Use a buy stop and rev. long at 1122.80).

Buy stop at 1122.80 for obj. near 1124.80 - 1125.80 area.

Sell (stop limit) at 1100 for obj. near 1098.90 - 1098.70 area.

Sell stop at 1097.80 for obj. near 1094.80 - 1092.20 area and possibly near 1090.30.

Sell stop at 1088.50 for obj. near 1085.70 - 1085.40 area and possibly near 1084.20 area.

Bulletin - Originally sent 07/19/04 (2:12 pm est)

The sell stop at 1097.80 was hit putting traders into short positions. The intra-day double bottom at 1095.80 - 1095.50 is a sign of a temporary support and is near enough to the 1094.80 obj. and completes the trade.

Results: 07/19/04

Sold @ 1103.50	Bought @ 1102.50	= + $ 250.00
Sold @ 1104	Bought @ 1102.50	= + $ 625.00
Sold @ 1104	Bought @ 1101	= + $ 750.00
Sold @ 1100	Bought @ 1098.70	= + $ 325.00
Sold @ 1097.80	Bought @ 1095.80	= + $ 500.00
TOTAL (P & L)		+ $2,450.00

thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Tuesday 07-20-04: NOTE: After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is of the least value. Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area. The word NEAR can be 1/2 to 1 point from a price listed in any trade to enter or complete a trade.

Resistance: For the September contract -

1098.60 day channel also 1099.30 and 1099.50 intra-day channels also 1100 and 1100.50 peaks (major area) / 1104.20 peak and 1104.30 minor day channel (major area) / 1105.30 day top and 1106.60 minor day channel also 1106.80 weekly channel (very major area) / 1107.40 weekly channel without GBX prices also 1107.50 and 1108.50 peaks also 1109.10 major day channel with GBX prices and 1109.20 peak (very major area) / 1110.60 minor weekly channel and 1111 peak also 1112 day top (very major area) / 1113.60 day channel and 1114.70 day top also 1114.90 day channel without GBX prices (major area) / 1117.60 minor weekly channel without GBX prices and 1118 minor day channel (very major area) / 1119.70 weekly top (major) / 1121.80 weekly top and 1122.50 rev. base (major area) / 1125.80 weekly closing gap (major area) / 1128.80 GBX weekly top and 1129.30 day top also 1130.50 peak and 1131.80 minor day channel (major area) / 1138.50 and 1139.60 long-term major weekly channels also 1140.20 monthly channel (very major area) / 1144.30 minor monthly channel and 1145.20 monthly channel also 1146.20 major double top (very major area).

Support: For the September contract -

1095.60 long-term day channel and 1095.50 day bottom (major area) / 1093.90 day channel and 1092.40 minor weekly down channel (major area) / 1090.30 minor monthly channel and 1090 weekly chart's bottom also 1089.50 Sept. chart's weekly bottom (very major area) / 1086.30 day channel and 1085.40 minor weekly channel also 1084.50 day bottom and 1084.20 minor monthly channel (very major area) / 1080 minor day channel and 1079 minor weekly down channel also 1078.20 weekly chart's bottom (major area) / 1077.50 and 1075 Sept. chart's weekly bottoms (very major area) / 1067.50 weekly bottom and 1065.20 Sept. chart's weekly bottom (major) / 1061.40 major weekly down channel (major area) / 1055.80 Sept. chart's monthly closing price and 1053 monthly bottom (very major area).

Comments:

The whiplashing action and sell-off on Monday closed down for the fourth day in a row leaving the chart in bearish territory but now faces major support at the 1090.30 monthly channel. A trade below 1090.30 and 1089.50 can bring prices down to challenge the 1086.30 - 1084.20 area and possibly near the 1080 and 1077.50 - 1075 bottom area. A trade today above 1107.40 - 1109.10 area is slightly bullish but only a trade above 1118 can bring any solid bullishness back to the chart. Remain defensive inside the first trading range between 1098.60 - 1099.50 resistance and 1095.60 - 1093.90 support and also the major range between 1106.60 - 1109.10 resistance and 1090.30 - 1089.50 support areas.

Day trades: For The September contract -

Aggressive traders can sell rallies near 1098.60 - 1099.50 area for obj. near 1096 - 1095.60 area. (Use a protective buy stop at 1102.30. Do not rev. long).

Aggressive traders can sell rallies near 1104 - 1106.60 area and if possible near 1107.40 - 1109.10 area for obj. near 1100.80 - 1099.60 area and possibly near 1098. (Use a protective buy stop at 1112.70. Do not rev. long).

Buy stop at 1118.70 for obj. near 1119.70 - 1121 area.

Buy stop at 1122.80 for obj. near 1124.80 - 1125.80 area.

Sell stop at 1095.30 for obj. near 1093.90 - 1092.40 area and possibly near 1090.30.

Sell stop at 1088.50 for obj. near 1086.50 - 1085.40 area and possibly near 1084.20.

Sell stop at 1083 for obj. near 1080 - 1077.50 area and possibly near 1075.30.

Bulletin - Originally sent 07/20/04 (10:25 am est)

Short positions were taken on the open at 1100.50. The sell off down to 1098.40 is worthy enough to take profits since the stop at 1102.30 was almost hit. This completes the first trade.

Results: 07/20/04

Sold @ 1100.50	Bought @ 1098.50	= + $ 500.00 bought as per bulletin
Sold @ 1103.20	Bought @ 1100.90	= + $ 575.00
Sold @ 1108.30	Bought @ 1103	= + $1,325.00
TOTAL (P & L)		+ $2,400.00

thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Wednesday 07-21-04: 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.

Resistance: For the September contract -

1113.70 day channel without GBX prices and 1114.20 day top also 1114.40 peak and 1114.70 day top and 1115 peak (major area) / 1117.60 minor day channel and 1117.60 minor weekly channel without GBX prices (very major area) / 1119.70 weekly top (major) / 1121.80 weekly top and 1122.50 rev. base (major area) / 1125.80 weekly closing gap (major area) / 1128.80 GBX weekly top and 1129.30 day top also 1130.50 peak and 1130.90 minor day channel (major area) / 1137.60 minor day channel also 1138.50 and 1139.60 long-term major weekly channels also 1140.20 monthly channel (very major area) / 1144.30 minor monthly channel and 1145.20 monthly channel also 1146.20 major double top (very major area).

Support: For the September contract -

1111.50 double base and 1110.50 intra-day gap (major area) / 1109 intra-day channel also 1108.70 and 1108.50 rev. peak and 1108 intra-day channel (major area) / 1106.30 intra-day channel and 1106.20 base (major area) / 1104.70 intra-day channel and 1104.50 base (major area) / 1103 and 1102.50 bases also 1101.30 day channel and 1100.90 base (very major area) / 1098.40 day bottom and 1098 base (major area) / 1096 long-term day channel and 1095.70 GBX bottom also 1095.50 day bottom and 1094.30 day channel (very major area) / 1092.40 minor weekly down channel (major) / 1090.30 minor monthly channel and 1090 weekly chart's bottom also 1089.50 Sept. chart's weekly bottom (very major area) / 1086.60 day channel and 1085.40 minor weekly channel also 1084.50 day bottom and 1084.20 minor monthly channel (very major area) / 1080 minor day channel and 1079 minor weekly down channel also 1078.20 weekly chart's bottom (major area) / 1077.50 and 1075 Sept. chart's weekly bottoms (very major area) / 1067.50 weekly bottom and 1065.20 Sept. chart's weekly bottom (major) / 1061.40 major weekly down channel (major area) / 1055.80 Sept. chart's monthly closing price and 1053 monthly bottom (very major area).

Comments:

The rally on Tuesday managed to close above the last 4 days closing prices, which technically is considered a minor key reversal and bullish but until prices can trade above the 1117.60 channel then technically the downtrend remains intact for lower prices to develop. A trade above the 1117.60 and 1119.70 area is slightly bullish but only a trade and close above the 1125.80 weekly gap and 1130.90 channel can reverse the downtrend into neutral condition again. A trade this month above 1145.20 can bring the uptrend back into play. A trade below 1101.30 is a major signal for lower prices and a trade below 1090.30 monthly channel will confirm the downtrend is back into play. Remain defensive inside the first trading range between 1114.70 and 1110.50 area and also the major range between 1117.60 and 1101.30 area.

Day trades: For The September contract -

Aggressive traders can sell rallies near 1113.70 - 1114.70 area and if possible near 1117.60 for obj. near 1111.50 - 1110.50 area. (Use a buy stop and rev. long at 1118.30).

Buy stop at 1118.30 for obj. near 1119.30 - 1119.70 area and possibly near 1121 - 1121.80 area.

Buy stop at 1122.80 for obj. near 1124.80 - 1125.80 area.

Sell stop at 1110 for obj. near 1109 - 1108 area.

Sell stop at 1107.70 for obj. near 1106.50 - 1106.20 area.

Sell stop at 1106 for obj. near 1104.80 - 1104.50 area.

Sell stop at 1100.20 for obj. near 1098.70 - 1098 area.

Sell stop at 1094 for obj. near 1092.40 - 1090.30 area

Bulletin - Originally sent 07/21/04 (10:08 am est)

Short positions were taken at 1114. The sell-off down to 1112 was near enough to the 1111.50 obj. and completes the trade.

Results: 07/21/04

Sold @ 1104	Bought @ 1112	= + $ 500.00
Sold @ 1115.50	Bought @ 1110.50	= + $1,250.00
Sold @ 1110	Bought @ 1108.50	= + $ 375.00
Sold @ 1107.70	Bought @ 1106.50	= + $ 300.00
Sold @ 1106	Bought @ 1104.80	= + $ 300.00
Sold @ 1100.20	Bought @ 1098.80	= + $ 350.00
Sold @ 1094	Bought @ 1092	= + $ 500.00
TOTAL (P & L)		+ $3,575.00

thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Thursday 07-22-04: 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.

Resistance: For the September contract -

1093.20 intra-day gap and 1094 intra-day channel (major area) / 1099.60 intra-day channel and 1100.70 peak (major area) / 1101.60 intra-day channel and 1102 rev. channel also 1102 weekly closing price (very major area) / 1104.50, 1105.20 and 1105.70 peaks (major area) / 1109.80 and 1110.20 peaks (very major area) / 1112.20 peak (major) / 1114 newly developed day channel and 1114.70 peak also 1114.80 newly developed day channel (very major area) / 1116 day top and 1117.20 minor day channel (very major area) / 1119.70 weekly top (major) / 1121.80 weekly top and 1122.50 rev. base (major area) / 1125.80 weekly closing gap (major area) / 1128.80 GBX top and 1129.30 day top also 1130 minor day channel and 1130.50 peak (very major area) / 1137.20 minor day channel also 1138.50 and 1139.60 long-term major weekly channels also 1140.20 monthly channel (very major area).

Support: For the September contract -

1089.50 weekly double bottom and 1089 day bottom (major area) / 1086.80 minor day channel and 1085.50 daily down channel also 1085.40 minor weekly channel (major area) / 1084.50 day bottom and 1084.20 minor monthly channel (very major area) / 1080.10 minor day channel and 1079 minor weekly down channel also 1078.20 weekly chart's bottom (major area) / 1077.50 and 1075 Sept. chart's weekly bottoms (very major area) / 1067.50 weekly bottom and 1065.20 Sept. chart's weekly bottom (major) / 1061.40 major weekly down channel (major area) / 1055.80 Sept. chart's monthly closing price and 1053 monthly bottom (very major area).

Comments:

The sell-off on Wednesday materialized as expected bringing prices down to a very major support area that can possibly stimulate some rallies. Be very defensive in the area. Besides having the major support, the chart formation, with the wide whiplashing action seen over the past two day, can turn out to be the beginning of a base formation for a solid move near the 1125.80 area and possibly near 1142 area again. At this time, a trade below 1089.50 is bearish but prices must trade below 1084.20 minor monthly channel to confirm lower prices to follow. Remain defensive inside the first trading range between 1094.40 and 1089.50 area and also the major range between 1101.60 and 1084.20 area.

Day trades: For The September contract -

Aggressive traders can sell rallies near 1094 - 1095.70 area or buy dips near 1090.50 - 1089.50 area, whichever side comes first, to complete the trade. (Use a buy stop and rev. long at 1096.80). (Use a sell stop and rev. short at 1088).

Aggressive traders can sell rallies near 1099.50 - 1101.60 area for obj. near 1096 - 1095 area. (Use a buy stop and rev. long at 1103.30).

Buy stop at 1096.80 for obj. near 1098.50 - 1099.50 and possibly near 1101.60.

Buy stop at 1103.30 for obj. near 1104.50 - 1105.20 area and possibly near 1105.70.

Buy stop at 1106.80 for obj. near 1109 - 1110.20 area.

Sell stop at 1088.50 for obj. near 1087 - 1086.80 area and possibly near 1085.50.

Sell stop at 1083 for obj. near 1081 - 1079 area.

Sell stop at 1072 for obj. near 1068 - 1065.20 area.

Bulletin - Originally sent 07/22/04 (10:05 am est)

The rally up to 1093.70 is near enough to the 1094 sell area putting traders into short positions at 1093.50. The sell-off down to 1090 meets the obj. and completes the trade.

Bulletin - Originally sent 07/22/04 (10:16 am est)

The sell stop at 1088.50 was hit putting traders into short positions. The sell-off down to 1087.20 is near enough to the 1087 obj. and completes the trade.

Bulletin - Originally sent 07/22/04 (12:15 pm est)

The sell stop at 1083 was hit, putting traders into short positions. The rally up to 1089.40 is above the newly developed down channel line and can prove to be supportive.

It is recommended for traders to exit all short positions and take losses at this time. The market is trading at 1089.40 at this time.

Bulletin - Originally sent 07/22/04 (3:02 pm est)

The buy stop at 1096.80 was hit putting trades into long positions. The market is showing signs of resistance at the 1097.80 area that can prevent the obj. at 1098.50 from being met.

It is recommended for traders to exit long positions, at the market, which is trading at 1096.80 at this time and scratch the trade.

Results: 07/22/04

Bought @ 1089	Sold @ 1088.50	= - $ 125.00
Sold @ 1088.50	Bought @ 1087.50	= + $ 250.00
Sold @ 1093.50	Bought @ 1090	= + $ 875.00
Sold @ 1083	Bought @ 1089.40	= - $1,600.00
Bought @ 1096.80	Sold @ 1096.80	= $ -0-
Sold @ 1099	Bought @ 1095	= + $1,000.00
TOTAL (P & L)		+ $ 400.00

thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Friday 07-23-04: 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.

Resistance: For the September contract -

1094.70 intra-day channel also 1095.90 and 1096 congestion peak area (major area) / 1097.80 intra-day channel and 1098 and 1099 peaks also 1099.20 day top (very major area) / 1100 and 1100.70 peaks (major area) / 1105.20 and 1105.70 peaks (major area) / 1109.80 and 1110.20 peaks (major area) / 1112.10 day channel with GBX prices and 1112.20 peak (very major area) / 1113.70 and 1114.50 minor day channels also 1114.70 peak (very major area) / 1116 day top and 1116.70 minor day channel (very major area) / 1119.70 weekly top (major) / 1121.80 weekly top and 1122.50 rev. base (major area) / 1125.80 weekly closing gap (major area) / 1128.80 GBX top and 1129.10 minor day channel also 1129.30 day top and 1130.50 peak (very major area) / 1136.70 minor day channel (major) / 1138.50 and 1139 long-term major weekly channels also 1140.20 monthly channel (very major area).

Support: For the September contract -

1088.20 base (major area) / 1085.30 base (major) / 1083.80 newly developed long-term major day channel and 1083 day bottom (major area) / 1080.20 minor day channel and 1079 minor weekly down channel also 1078.20 weekly chart's bottom (major area) / 1077.50 and 1075 Sept. chart's weekly bottoms (very major area) / 1067.50 weekly bottom and 1065.20 Sept. chart's weekly bottom (major area) / 1061.40 major weekly down channel (major area) / 1055.80 Sept. chart's monthly closing price and 1053 monthly bottom (very major area).

Comments:

The whiplashing action on Thursday managed to close up for the day after trading slightly below the 1084.20 monthly channel. This action can possibly be a signal of a temporary bottom and for a significant retracement to the upside. A trade above 1097.80 - 1099.20 area can bring prices up to challenge the 1105.70 and 1109.80 areas. A trade above 1112.10 is bullish but a trade and close on Friday above 1114.50 will reverse the downtrend by having a technical key reversal on the weekly chart and bullish for higher prices to follow. A trade below 1085.30 and 1083.80 is bearish but a trade below the 1080.20 - 1078.20 area and 1075.30 bottom will confirm the major downtrend intact for lower prices. Remain defensive inside the first trading range between 1094.70 - 1088.20 area and also inside the major range between 1099.20 and 1083.80 area.

Day trades: For The September contract -

Aggressive traders can sell rallies near 1094.70 - 1095.70 area or buy dips near 1089.70 - 1088.20 area, whichever side comes first, to complete the trade. (Use a protective buy stop at 1096.80. Do not rev. long). (Use a protective sell stop at 1086.80. Do not rev. short).

Buy stop at 1102.20 for obj. near 1105 - 1105.70 area.

Buy stop at 1106.80 for obj. near 1108.80 - 1110 area.

Buy stop at 1112.70 for obj. near 1113.70 - 1114.70 area.

Sell stop at 1081.30 for obj. near 1080.30 - 1079 and possibly near 1078.20 - 1077.50 bottom area.

Sell stop at 1072 for obj. near 1068 - 1065.20 area.

Results: 07/23/04

Bought @ 1089	Sold @ 1086.80	= - $ 550.00
TOTAL (P & L)		- $ 550.00

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

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

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

Click here for previous Archived Daily S & P reports

The Tech Guru, Inc. 52-56 West Main Street Luray, VA 22835 540-843-GURU (FAX) 540-743-4056

Send mail to webmaster@thetechguru.com with questions or comments about this web site.
Copyright © 2000-2006 The Tech Guru, Inc.
Last Modified: December 19, 2006

The Tech Guru, Inc. 52-56 West Main Street Luray, VA 22835 540-843-GURU (FAX) 540-743-4056

Send mail to webmaster@thetechguru.com with questions or comments about this web site. Copyright © 2000-2006 The Tech Guru, Inc. Last Modified: December 19, 2006

Send mail to webmaster@thetechguru.com with questions or comments about this web site.
Copyright © 2000-2006 The Tech Guru, Inc.
Last Modified: December 19, 2006