The Tech Guru Commodity Report 

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Archived S & P Daily Reports

THERE IS RISK OF LOSS IN ALL TRADING. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. ALL RESULTS ARE HYPOTHETICAL. THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.

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The week in review - 6/24/02 - 6/28/02
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 06-24-02 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of 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. 
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 -
993.70 and 994.20 intra-day channels also 993 peak (significant) / 997.50, 997.80 and 998 peaks also 999.50 intra-day channel (major area) / 1002 GBX channel (very major area) / 1007.50 day top / 1007.80 day gap (major area) / 1013.70 GBX top (major) / 1018.50 day channel and 1020.30 closing price (major area) / 1025 day top and 1025.70 GBX top (very major area) / 1030 weekly channel (very major area) / 1033 day channel (major).
 
Support:  For the September contract -
986 day channel and 985 bottom (very major area) / 981 minor weekly channel and 980.50 day channel also 980 weekly bottom on the daily chart and 978 weekly bottom on the weekly chart (very major area) / 973 close and gap on the weekly chart (very major area) / 955 GBX bottom on the Sept. contract (very major area).
 
Comments:
    The sell-off on Friday and the fact that it closed down for the 5th week in a row, leaves the chart in bearish territory.  The market continue to face the 973 gap support found on the weekly chart, which can still stimulate some rallies but overall the resistance at this time seems to be outweighing the support for possible lower prices to develop.  Rallies up near the 997 - 1002 area can still be considered a selling opportunity.  A trade above 1018.50 is slightly bullish but only a trade above 1030 - 1033 can bring any solid bullishness back to the chart.  A trade below 973 will confirm lower prices to follow.  Remain bearish until the market can prove otherwise.
 
Day trades:  For the September contract -
 
Aggressive traders can sell rallies near 997 - 1002 area for obj. near 989 - 986 area to complete the trade.  (Use a protective buy stop at 1005.20.  Do not rev. long).
 
Very aggressive traders can attempt long positions near 987 - 986 area for obj. near 993 - 994 area.  (Use a protective sell stop at 983.  Do not rev. short).
 
Buy stop at 1010 for obj. near 1013 - 1014 area.
Buy stop at 1021 for obj. near 1024 - 1025 area.
 
Sell stop at 977 for obj. near 974 - 973 area.
Sell stop at 968 for obj. near 960 - 955 area.
Sell stop at 951 for obj. near 944 - 939 area.
 
Long-term short positions can continue to hold short positions and use a protective buy stop at 1120. 
 

* 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 6/24/02 11:20 am (est)

 
Congratulations to those traders who used the Tech Guru phone consultation service and received the trade information to buy at the 981 area meeting a profitable obj. near 986, which completed the trade.  It is understood that this trade was not listed in the original daily report, but obtained through the phone consultation service.  For those of you who are interested in finding out additional trades inside a particular trading area, can sign up for the phone consultation service and also take advantage of these situations. 

Whenever anyone has a question or a doubt in what to do in a certain trading area they can call the Tech Guru 's phone line for instant technical advice.  NOTE:  The trades that develop during the day and  are advised on the phone service will not be listed on the daily results, but who cares.  When profits can be realized over and above what the report produces, all the better.  For further information on the phone service, just call The Tech Guru at (540) 843-4878.

Bulletin - Originally sent 6/24/02 2:58 pm (est)

The market rallied from the 973 support area as expected.  Congratulations to the traders who went long on the recommendation from the phone service meeting the obj. near the 990 - 995 area.
 
The market continued to rally up to the sell area near 997 - 1002, where short positions were taken.

The stop at 1005.20 was hit putting the short position in a loss to complete the trade.

   
Aggressive traders can attempt the short position again near the 1002 area for obj. near 995 - 993.  (use a protective buy stop at 1013.  Do not rev. long).  NOTE:  All other trade recommendations from today's report are now considered complete or otherwise cancelled including the buy stop at 1010.

Bulletin - Originally sent 6/24/02 3:27 pm (est)

The sell at 1002 was taken again for the obj. near 995 - 993 area.  The market is trading at 997 - 998 area and seems to be holding support.  It is recommended to exit at 997 - 998 area and take profits even though prices can possibly move lower.  Taking profits seem like a good move at this time.

Bulletin - Originally sent 6/24/02 3:35 pm (est)

Well, the market reached the obj. of 995 before the bulletin was sent to exit at the 997 - 998 area.  Either way every traders taking the sell at 1002, for the second time, realized a profit.

Results:    6/24/02

Bought @ 986.50    Sold @ 992            =    + $1,375.00
Sold @ 977             Bought @ 974        =    + $  750.00
Sold  @ 999            Bought @ 1005.20   =    - $1,550.00
As per bulletin
Sold @ 1002           Bought @ 995        =     + $1,750.00
TOTAL (P & L)                                             + $2,325.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 06-25-02 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of 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. 
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: 
999.80 peak (significant) / 1002 and 1003 peaks also 1003 minor day channel (major area) / 1005.50 day top also 1007.50 day top and 1007.80 day gap (major area) / 1012 minor day channel and 1013.70 GBX top (major area) / 1020.30 day session close (major) / 1025 day top and 1025.70 GBX top (very major area) / 1030 major day channel and 1030 weekly channel (very major area) / 1039 day top and 1042.40 GBX top also 1045 gap and 1045.50 weekly top (very major area).
 
Support: 
994.50 and 993 rev. channels also 992.50 intra-day channel (major area) / 988 intra-day base and 987.50 intra-day gap (major area) / 978 rev. peak and intra-day gap (major area) / 973 weekly close and 971 bottom (very major area) / 963.50 down channel (major) / 955 GBX bottom on the Sept. contract (very major area) / 945 weekly down channel (very major).
 
Comments:
    The recovery rally on Monday from the 973 support area was expected and proved the significance of the area.  The close on Monday being higher than Friday's close also removes the bearishness from the chart leaving it neutral for the possibility of additional rallies to develop.  A trade above 1003 can bring prices up near the 1012 resistance area.  A trade above 1012 - 1013.70 area can bring prices up to challenge the 1025 and 1030 major resistance.  NOTE:  The 1030 resistance is such a major area that it can possibly put a lid on any further rallies and will be considered a major selling area if it ever gets there.  A trade below 988 today is bearish but only a trade below 973 - 971 area will confirm the continuation of the downtrend for lower prices.  Remain defensive in this neutral area.  Prices can whiplash to both sides before proving a direction.
   
Day trades:  For the September contract -
 
Aggressive traders can sell rallies near 999.80 - 1003 area or buy dips near 996 - 993 area, whichever side comes first to complete the trade.  (Use a buy stop and rev. long at 1006).  (Use a sell stop and rev. short at 986).
 
Buy stop at 1006 for obj. near 1009 - 1012 area.
Buy stop at 1016.70 for obj. near 1020 - 1022 area and possibly near 1025.
 
Aggressive traders can sell rallies near 1025 - 1030 area, if it gets there, for obj. near 1020 - 1018 area and possibly near 1016.  (Use a protective buy stop at 1040.  Do not rev. long).
 
Sell stop at 986 for obj. near 981 - 979 area.
Sell stop at 976 for obj. near 973 - 971 bottom area.
Sell stop at 968 for obj. near 964.50 - 963.50 area.
Sell stop at 960.50 for obj. near 956.50 - 955 area.
Sell stop at 952 for obj. near 947 - 945 area.
 
Long-term short positions can continue to hold short positions and use a protective buy stop at 1120.
 

* 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 6/25/02 10:10 am (est)

The action of the market and technical formation after the sell area was hit at the 1002 area seem to be holding support at the 998.50 area, intra-day double bottom double bottom and rally to the 1003 area again.  Traders should consider liquidation of the short position and scratch the trade before possible loses occur.  The market is trading at the 1000 area at this time for small profits. 

Bulletin - Originally sent 6/25/02 11:36 am (est)

The buy stop was hit at 1006 putting traders into the long position.  998.50 is now considered an intra-day support area.  A failure below the 998.50 is considered bearish.  Long-positions should use a protective sell stop at 995.50. 
 
Considering the top-heavy chart formation, rallies up near the 1006 area should be considered resistance for long positions to exit and scratch the trade.  If the market fails to rally near the 1006 area, then long positions should exit as near as possible to cut losses. 
 
Overall, the major trend is still down, even though the market remains in neutral territory.  Rallies are still possible but becoming less and less likely as this time.  If the market does trade above the 1012 area, it will then have the potential for prices to trade near the 1025 - 1030 area which should be considered a major selling point. 

Bulletin - Originally sent 6/25/02 12:07 pm (est)

The whiplashing action seen today materialized as expected.  Unfortunately, traders are now in a long position from 1006, which does not appear to materialize in a profit.  It is recommended for all traders to exit the long position near 1003 and cut losses.

Bulletin - Originally sent 6/25/02 3:06 pm (est)

The sell stop was hit at 986 where short positions were taken.  The market traded down to 982.50 and seems to be holding.  There is nothing wrong with taking profits at the 983 area even though it can still hit the obj. near 981.

Bulletin - Originally sent 6/25/02 3:08 pm (est)

If traders missed taking profits at the 983 area then exit the trade at 986 and scratch the trade.

Bulletin - Originally sent 6/25/02 3:53 pm (est)

 Anyone failing to take profits at the 974 - 973.75 area from the sell at 976 must exit and scratch the trade.

Results:    6/25/02

Sold @ 1002            Bought @ 998            =    + $1,000.00
As per bulletin
Bought @ 1006        Sold @1003               =   -  $   750.00
Sold  @ 986             Bought @ 983           =    + $  750.00
Sold @ 976              Bought @ 974           =     + $  500.00
TOTAL (P & L)                                                + $1,500.00
    

  thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 06-26-02 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of 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. 
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: 
979.50 peak and 980.50 intra-day channel (major area) / 982 intra-day channel and 982.50 peak (major area) / 987 peak (major) / 993 and 994.50 intra-day peaks (major area) / 998 peak and 999 day channel (very major area) / 1007.50 top and 1007.80 day gap (major area).
 
Support: 
971 bottom (major) / 968 minor down channel (very major) / 961 down channel (major) / 955 GBX bottom on the Sept. contract (very major area) / 945.50 daily down channel and 945 weekly down channel (very major) / 941 minor daily down channel and 939 major weekly bottom (very major) / 935 daily down channel (major) / 915 monthly bottom (very major)
 
Comments:
    The sell-off and close on Tuesday put the chart in totally bearish territory leaving the market subject to challenging the 939 bottom area and possibly lower.  As mentioned in many of the previous reports, 818 is a 50% retracement area, where prices are likely to reach in the near future.  As this report is being written the market is down below the 950 area in the overnight session and can bring the 50% retracement area into view sooner then one might think.  NOTE:  The 945 channel is a very major support area that could stimulate some rallies but the overall bearishness on a technical basis seems likely to keep the downtrend intact for lower prices to continue.  Remain bearish until the market can prove otherwise.  Conservative traders should step aside and wait for the smoke to clear.  Today's trading range can be wide and volatile.
       
Day trades:  For the September contract -
 
Very aggressive traders can attempt long positions near the 945.50 area for obj. near 952 - 955 area.  (Use a protective sell stop at 942.50.  Do not rev. short).
 
NOTE:  If the market opens below 961 - Aggressive traders can sell rallies near 961 for obj. near 956 - 954 area.  (Use a protective buy stop at 964.70.  Do not rev. long)
 
NOTE:  Because the market is expected to open below 961 -  Aggressive traders can sell rallies near 968 area and if possible near 971 for obj. near 962 - 960 area.  (Use a protective buy stop at 982.70.  Do not rev. long).
 
Sell stop at 932 for obj. near 926 - 922 area and possibly near 915.
Sell stop at 909 for obj. near 897 and possibly near 892.
 
Long-term short positions can continue to hold short positions and use a protective buy stop at 1120.  Congratulations to those who continued to remain short as recommended.  The main obj. near the 818 area is becoming apparent as this downtrend unfolds. 
 

* 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 6/26/02 11:03 am (est) 

After the first trade was made at the sell of 961, the stop was hit at 964.70 to complete the trade with a loss.  The market did sell off down to the obj. but unfortunately the stop was already hit.  For those traders who did not use a stop, congratulations.  

Because of the resistance, the sell at 961 - 964.70 double top was attempted again and met the obj. at 956.50 - 957 area to complete the trade for a profit this time.  

The volatility in the market is fast and wide as expected.  This trade should not be repeated again.  The support at the 945 area is still considered significant and if reached very aggressive traders can still consider long positions for an obj. to 950 - 952 area.  Even though this trade is against the downtrend momentum, it is considered a low risk trade because of the dollar amount in the stop at 942.50.

Bulletin - Originally sent 6/26/02 12:52 pm (est) 

Short positions were taken at 968 and again at 971.  The obj. at 962 has not been reached yet, but the 965 - 965.25 intra-day double bottom seems worthy enough to exit short positions and take profits.  The market remains in neutral condition at this time.  945 will not be considered a buy on a sell-off from this point on, so cancel the very aggressive trade at 945.

Bulletin - For New Subscribers - Originally sent 6/26/02 1:08 pm (est) 

Because the market is now in neutral condition, it was recommended to exit the short positions and take profits.  The market does have the potential to move to either side but overall the long-term downtrend remains intact and long positions should not be considered.  Position traders looking to add a long-term position can do so at this 966 - 965 area but should not let the trade go into new highs for the day.  

The market still appears it can bring lower prices and that is the reason why the 945 buy order was cancelled.

Results:    6/26/02

Sold @ 961                 Bought @ 964.70 stop      =   -  $   925.00
Repeat first trade - 2nd attempt because of double top resistance
Sold @ 962                 Bought @ 957                  =   +  $1,250.00
As per bulletin
Sold @ 968 and 971    Bought 2 @ 965               =   + $2,250.00
TOTAL (P & L)                                                         + $2,575.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 06-27-02 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of 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. 
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: 
980 rev. base and 982.50 intra-day peak (major area) / 989 day channel and 989.50 peak also 990 intra-day channel (major area) / 992 day channel and weekly closing price (very major area) / 996 minor day channel, 996.80 peak and 997.10 daily close (major area) / 1002 minor channel with GBX prices (major) / 1007.50 weekly top and 1007.80 day gap (major area) / 1013.70 GBX top (major) / 1020.30 day session close (major area) / 1024 major day channel also 1025 day top and 1025.50 GBX top (very major area).
 
Support: 
969.50 intra-day channel and 969 base also 967.50 rev. peak (major area) / 964.80 rev. peak and 960 base (major area) / 954 and 952.50 base (major area) / 950.50 bottom to 945.80 GBX bottom also 945 weekly down channel (very major area) / 942.50 daily down channel (major) / 939 weekly bottom and 937.50 minor down channel (very major area) / 930 daily down channel (major) / 915 monthly bottom (very major).
 
Comments:
    The recovery rally on Wednesday from the 945 support area proved the significance of the area and put the chart in neutral condition.  The market faces resistance at the 989 - 992 area and also at 996 that could hold back further rallies.  A trade above 996 can bring prices up to challenge the 1015 - 1030 major resistance area.  Because the overall major trend remains bearish, rallies near the 989 - 992 area should be considered a selling opportunity.  A trade below 960 is bearish and a trade below 952.50 can stimulate enough of selling that can bring prices below the 945 - 939 bottom areas.  Remain defensively bearish until a breakout to either side of the 992 - 960 neutral area is seen.
 
Day trades:  For the September contract -
 
Aggressive traders can sell rallies near 986 - 989 and if possible near 992 for obj. near 973 and possibly near 970.  (Use a protective buy stop at 998.70.  Do not rev. long). or (Use a buy stop and rev. long at 1003.20).  NOTE:  If rallies can reach as high as 996 it should be considered a sell.
 
Buy stop at 1003.20 for obj. near 1007.80 gap and possibly near 1010 - 1013 area.
Buy stop at 1016.20 for obj. near 1020 - 1024 area.
 
Sell stop at 966 for obj. near 963 - 961 area.
Sell stop at 959 for obj. near 956 - 954 area.
Sell stop at 951 for obj. near 945 - 943 area and possibly near 939.
Sell stop at 936 for obj. near 932 - 930 area.
 
Long-term short positions can continue to hold short positions and use a protective buy stop at 1120.
 

* 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 6/27/02 9:45 am (est) 

The market opened below the 986 - 989 sell area.  It appears the market is struggling to reach the resistance area for the sell to materialize.  Traders with large accounts can attempt selling at this 983 - 984 area and add to their short positions on rallies up near the 986 - 992 area. 

Bulletin - Originally sent 6/27/02 9:59 am (est) 

The market sold off to the 976 area which is just before the obj. of 973.  It would be wise for traders to consider taking a profit and reselling at the higher levels near 986 again.

Bulletin - Originally sent 6/27/02 10:01 am (est) 

Anyone failing to exit at the 976 area should not exit on this rally near the 981.50 area.  It is still possible for the market to return back down to 978 where short positions could then consider taking profits.  Overall the market is still bearish and can possibly reach the 960 area by the end of the day.

Bulletin - For New Subscribers - Originally sent 6/27/02 10:08 am (est) 

The first trade was completed with a sell at 984 and a buy at 977.  Since the market is facing such major resistance at the 989 - 992 area, rallies up near that area are still considered a sell.  The obj. will still remain at 973 if the new short position comes to play near 989 - 992.  Continue to use a protective buy stop at 998.70.

Bulletin - Originally sent 6/27/02 12:36 pm (est) 

Anyone that did not take their profits when the market hit 964 with the sell stop at 966 should look to exit near 966 to scratch the trade. 

Bulletin - Originally sent 6/27/02 3:36 pm (est) 

The market reached the sell area at 989 where short positions were taken again.   

The sell-off down to the 979.50 area proved to hold some support.  Short positions can consider taking profits at the 983 - 981 area to complete the trade or exit at market on close. 

Results:    6/27/02

Sold @ 984                 Bought @ 977      =   +  $1,750.00
Sold @ 966                 Bought @ 964      =   +  $  500.00
Sold @ 989                 Bought  @ 983      =   + $1,500.00
TOTAL (P & L)                                              + $3,750.00
   
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 06-28-02 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of 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. 
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: 
998.50 minor channel (major) / 1007.50 weekly top and 1007.80 day gap (major area) / 1013.70 GBX top (major) / 1020.30 day session close and 1020.50 major day channel (very major area) / 1025 day top and 1025.50 GBX top (major area) / 1030 weekly channel (very major area) / 1039 day top and 1040 channel (very major area).
 
Support: 
984 day channel with GBX prices and 983.50 intra-day channel (major area) / 980 day channel and 979.50 bottom (very major area) / 974.50 double closing price (major area) / 968.50 intra-day base area (major) / 964 bottom and 960 intra-day base (very major area) / 954 base and 950.50 bottom (very major area) / 945.80 GBX bottom and 945 weekly down channel (very major area).
 
Comments:
    The follow-through rally on Thursday from the 945 major bottom support made on Wednesday brought prices up to last Friday's closing price at 992 putting the chart in neutral to slightly bullish condition.  The market faces the 998.50 channel and 1007.50 weekly top, which is significant.  A trade above these resistance areas can bring prices up to challenge the 1020.50 day channel and 1030 weekly channel, which technically is so significant, that it can put a lid on any further rallies for a while.  A trade above 1030 will be considered a breakout for higher prices.  A trade below 1079 is bearish but only a trade below 1060 will confirm the downtrend intact for lower prices to follow.  Remain defensive inside the 998.50 to 980 neutral area.
   
Day trades:  For the September contract -
 
Aggressive traders can sell rallies near 996 - 998 area or buy dips near 985 - 981 area, whichever side comes first, to complete the trade.  (Use a buy stop and rev. long at 1001.50).  (Use a sell stop and rev. short at 977.50).
 
Buy stop at 1001.50 for obj. near 1005 - 1007.80 gap area.
Buy stop at 1010.50 for obj. near 1014 - 1016 and possibly near 1020 area.
 
Aggressive traders can consider short positions near 1019 - 1020, if it gets there for obj. near 1013 and possibly near 1009.  (Use a protective buy stop at 1026.70 or 1033, whichever seems fit at the time).
 
Sell stop at 977.50 for obj. near 974.50 - 973 area and possibly near 971.
Sell stop at 959 for obj. near 956 - 954 area and possibly near 950.50 bottom.
 
Long-term short positions can continue to hold short positions and use a protective buy stop at 1136. 
 

* 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 6/28/02 (10:29 am est)

The market rallied up to the 1001.50 buy stop where long positions were taken.  The market did not meet the obj. and is forming a top formation which can possibly bring prices lower.  It is recommended for long positions to exit and scratch the trade and cut losses.

Results:    6/28/02

Sold @ 996                 Bought @ 1001.50      =   - $1,375.00
Bought @ 1001.50       Sold @ 1001.50          =   +$    -0-    
TOTAL (P & L)                                                    - $1,375.00

The week in review - 7/01/02 - 7/05/02
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 07-01-02 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of 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. 
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: 
997.50 day channel (major) / 1001 and 1001.50 minor day channel also 1003.20 day top (major area) / 1007.50 weekly top and 1007.80 day gap (very major area) / 1013.70 GBX top and 1015 weekly channel (very major area) / 1017.50 major day channel and 1020.30 day session close (very major area) / 1025 day top and 1025.50 GBX top (major area) / 1038 minor day channel and 1039 day top also 1040 monthly channel (very major area).  
 
Support: 
989 minor day channel and 987 day bottom also 986.20 GBX bottom (major area) / 980 rev. peak and 979.50 base (major area) / 975.20 GBX bottom and 974.50 double closing price (major area) / 968.50 intra-day base and 964 day bottom (very major area) / 960 base (major) / 954 base (major)/ 950.50 weekly bottom to 945.80 GBX bottom (very major area) / 937 daily down channel and 931 weekly down channel (very major area).
 
Comments:
    The sell-off and close on Friday brought prices down slightly below Thursday's close and also closing down for the 6th week in a row leaving the chart in neutral to bearish condition.  The overall neutral condition can stimulate whiplashing to both sides but if rallies develop up near the 1015 area, it should be considered a good selling opportunity.  A trade above 1015 - 1017.50 area can bring prices higher to possibly challenge the 1040 area again.  A trade today below 980 - 979.50 is bearish but only a trade below 968 - 964 area will confirm the downtrend intact for lower prices to follow.  Remain defensive.  The chart formation is very indecisive in direction.
       
Day trades:  For the September contract -
 
Very aggressive traders can buy  dips near 989 - 987 area or sell rallies near 991 - 993 area, whichever side comes first to complete the trade.
 
Aggressive traders can sell rallies near 996 - 997 for obj. near 991 - 989 area.  (Use a buy stop and rev. long at 1009.20).  (Conservative traders can use a protective buy stop at 1003.50.  Do not rev. long).
 
Aggressive traders can buy dips near 982 - 979.50 area for obj. near 987 - 989 area.  (Use a sell stop and rev. short at 978).
 
Buy stop at 1009.20 for obj. near 1013 - 1015 area.
Buy stop at 1021 for obj. near 1025 and possibly near 1027 area.
Buy stop at 1030 for obj. near 1035 - 1038 area.
 
Sell stop at 978 for obj. near 975.50 - 974 area and possibly near 972.
Sell stop at 959.50 for obj. near 956.50 - 955 area.
Sell stop at 950 for obj. near 945 - 940 area and possibly near 937.
 
Long-term short positions can continue to hold short positions and use a protective buy stop at 1133.
 

* 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 7/01/02 (1:18 pm est)

The buy area was hit between 982 and 979.50, putting traders into the long position.  The sell-off below 979.50 put some negativity into the chart and it is recommended for traders to exit the long position and scratch the trade.  The market is trading at 981 at this time, which should get the trade to break even.

Bulletin - Originally sent 7/01/02 (2:13 pm est)

This bulletin is to inform all subscribers that the 978 sell stop is still in effect and when reached it will trigger a short position.

Bulletin - Originally sent 7/01/02 (2:57 pm est)

The sell stop at 978 was hit putting traders into the short position.  The chart formation at this time does not seem worthy for the market to continue to the downside.  There appears to be too much support in this area.  

It is recommended for traders to exit the short position and scratch the trade.  Short positions will not be attempted until the sell stop at 959.50 is reached.

Results:    7/01/02

Bought @ 989.50        Sold @ 992        =  + $   750.00
Sold @ 995.50            Bought @ 990    =  + $1,375.00
As per bulletin
Bought @ 981            Sold @ 982         =  + $  250.00
As per bulletin
Sold @ 978                Bought @ 977     = + $   250.00
TOTAL (P & L)                                         + $2,625.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 07-02-02 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of 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. 
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: 
972.20 peak and 974 minor intra-day channel (major area) / 980.50 and 981 intra-day channels (major area) / 985.80 and 985.90 intra-day peaks (major area) / 988 minor day channel and 990.10 weekly close (very major area) / 991.50 day channel (very major) / 995.80 day top and 996.50 GBX top (major area) / 999 and 1000 minor channels (very major area) / 1003.20 day top (major) / 1007.50 weekly top and 1007.80 day gap (major area) / 1013.20 GBX top and 1014 major day channel also 1015 weekly channel (very major area).
 
Support: 
968.50 minor day channel (major) / 964 day bottom and 960 intra-day base (very major area) / 954 and 952.50 intra-day base also 950.50 day bottom (very major area) / 945.80 GBX bottom (major) / 940.50 down channel (major) / 934 daily down channel and 931 weekly down channel also 929 weekly bottom (very major area) / 915 monthly bottom (very major).   
 
Comments:
    The sell-off on Monday from the resistance area put the chart in bearish territory.  The close on Monday was the lowest closing price since Feb. 1998, which also adds to the bearishness for possible lower prices to develop.  The market faces major support at 964 - 960 area, which can possibly stimulate some short lived rallies and should be considered a selling opportunity.  A trade above 991.50 and 1000 can bring some bullishness back to the chart but only a trade above 1015 can reverse the momentum to the upside for a while.  A trade below 964 - 960 area will confirm the downtrend intact for lower prices to develop.  A trade below 940.50 will bring prices down to challenge the 929 and 915 major weekly and monthly bottom areas and possibly lower.  Remain bearish until the market can prove otherwise.
 
Day trades:  For the September contract -
 
Aggressive traders can sell rallies near 972 - 974 area for obj. near 968.50 and possibly near 964.  NOTE:  If rallies continue before this trade is complete, then follow the next aggressive trade and exit both short positions together at the obj. or stop listed in that trade.
 
Aggressive traders can sell rallies  near 980 - 981 area for obj. near 976 - 974 area.  (Use a protective buy stop at 982.70.  Do not rev. long).
 
Aggressive traders can sell rallies near 985 - 987 and if possible near 990 for obj. near 980 - 978 area and possibly near 975.  (Use a protective buy stop at 993.  Do not rev. long).
 
Buy stop at 1003.50 for obj. near 1007 - 1007.80 gap.
Buy stop at 1009.50 for obj. near 1013 - 1015 area.
 
Sell stop at 959.50 for obj. near 956 - 955 area and possibly near 953.
Sell stop at 950 for obj. near 946 - 944 area and possibly near 941 area.
Sell stop at 937 for obj. near 934 - 931 area and possibly near 929.
 
Long-term short position can continue to remain short and use a protective buy stop at 1133.
 

* 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 7/02/02 (11:57 am est)

The sell-stop was hit at 950 putting traders into the short position.  the market continued down to 948.50 but immediately rallied off the 948.50 proving that this area might have more support than anticipated.  It is recommended to exit the short position and scratch the trade. 

Traders can use a sell stop at 947 for an obj. near 944 - 941 area. 

Bulletin - Originally sent 7/02/02 (12:22 pm est)

The sell stop was hit at 947 putting traders into the short position.  The market then reversed and is now moving to the upside.  The resistance at this time is at 953 that can still be considered a sell.  Use a protective buy stop at 957.70 on short positions at this time. 

Bulletin - Originally sent 7/02/02 (12:48 pm est)

After the sell was made at 953, the market proceeded lower to the 950 level.  The reversal back up to this 952.50 level is now looking slightly bullish.  All short positions should exit and cut losses.

Results:    7/02/02

Sold @ 969.50            Bought @ 964        =  + $1,375.00
Sold @ 959.50            Bought @ 956.50    =  + $  750.00
As per bulletin
Sold @ 950                Bought @ 950         =   $  -0-
As per bulletin
Sold @ 947                Bought @ 951         = -  $1,000.00
As per bulletin
Sold @ 953                Bought @ 951         = + $  500.00
TOTAL (P & L)                                             + $1,625.00
 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 07-03-02 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of 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. 
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: 
948 day channel also 949.80 peak and 950 intra-day channel and GBX channel (major area) / 953 and 954 peaks also 953 intra-day channel (major area) / 957 peak (major) / 960 double peak and 963 intra-day channel (very major area) / 969.60 top and 974.20 GBX top (major area) / 980.50 minor day channel (major) / 986 major day channel (very major area) / 990.10 weekly and monthly closing price (very major area).
 
Support: 
945.60 bottom and 944 minor down channel (major area) / 939 GBX down channel and 939 weekly major bottom (very major area) / 931 daily down channel and 931 weekly down channel also 929 monthly and weekly bottom (very major area) / 925 long-term daily down channel (major) / 917.70 monthly bottom (very major area) / 907 daily down channel and 903 monthly bottom (very major area).
 
Comments:
    The continuation of the sell-off seen on Tuesday leaves the chart in bearish condition and brought prices down to a very critical area.  The low on Tuesday at 945.60 nearly matches last week's GBX bottom but the major support found at 939, which is the low made from 9/11 and also the 931 - 929 area will be an important area to monitor.  A trade below 929 and 925 can bring prices down to challenge the 917.70 and 903 monthly bottoms.  A trade below 903 can bring prices down to challenge the 818 area, which is the 50% retracement on the monthly chart and the main obj. mentioned in many of the past issues.  At this time, a trade above 986 and 1000 can bring some bullishness back to the chart but only a trade above 1015 can reverse the momentum to the upside.  Remain bearish but very defensive at the 939 and 929 areas.  Rallies can be stimulated from these support areas but should be short lived and considered a selling opportunity.
   
Day trades:  For the September contract -
 
Aggressive traders can sell rallies near 949 - 953 area for obj. near 944.50 and possibly near 941 - 939 area.  (Use a buy stop and rev. long at 965).  (Conservative traders can use a protective buy stop at 957.70).
 
Very aggressive traders can attempt long positions near 944 - 940 area for obj. near 948 - 949 area and possibly near 952.  (Use a sell stop and rev. short at 937).
 
Buy stop at 965 for obj. near 969 and possibly near 972.
 
Sell stop at 937 for obj. near 934 - 931 area and possibly near 929.
Sell stop at 923 for obj. near 918.
Sell stop at 914 for obj. near 909 - 907 area and possibly near 903.
 
Long-term short positions can continue to hold short position and use a protective buy stop at 1086.
 

* 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 7/03/02 (10:23 am est) 

The market rallied up to the 953 area where short positions were taken.  The sell-off down to the 945 area completes the second profitable trade today. 

    HAPPY FOURTH OF JULY

Bulletin - Originally sent 7/03/02 (11:09 am est) 

The sell stop at 937 was hit on the big contract but was not reached on the E-mini.  Since this report does reflect the big contract, it is considered short positions were taken.  The rally seen thereafter proved that this trade is not worthy of keeping, and it is recommended for all short positions to exit and cut losses.

Results:    7/03/02

Bought @ 944       Sold @ 949             =  + $1,250.00
Sold @ 953           Bought @ 944.50     =  + $2,125.00
As per bulletin
Sold @ 937                Bought @ 939    =  -   $  500.00
TOTAL (P & L)                                          + $2,875.00
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 07-05-02 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of 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. 
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: 
955.50 day top (significant) / 960 double intra-day peaks (major) / 966.50 minor day channel also 969.60 day top and closing price (major area) / 974.20 GBX top and 974.50 day channel (very major area) / 985.80 and 985.90 intra-day peaks (major area) / 990.10 weekly close and 991.50 peak also 992.50 minor channel (very major area) / 995.80 day top and minor channel also 996.50 GBX top (major area) / 1003.20 day top and 1005 major day channel also 1007.50 weekly top (very major area).
 
Support: 
952.50 intra-day channel and 950.50 rev. peak (major area) / 948.70 intra-day channel also 948.70 and 948.50 base (major area) / 946.70 base also 945.50 and 944.50 rev. peaks (major area) / 939.20 and 938.20 base also 936.10 base and 935 bottom (very major area) / 931 weekly down channel and 929 monthly and weekly bottom (very major area) / 925 daily down channel (major) / 919 daily down channel and 917.70 monthly bottom also 915.50 daily down channel (very major area) / 903 monthly bottom and 902 down channel (very major area).
 
Comments:
    The rally on Wednesday from the support area brought prices up to close higher then Tuesday's close removing the bearishness from the chart and leaving it neutral for some rallies to develop.  A trade above 960 can bring prices up near the 966.50 and possibly near 974.50 areas, where short positions can still be considered.  A trade above 974.50 can stimulate buying to possibly bring prices up near the 1000 area again.  A trade below 944.50 is bearish but only a trade below 931 will fail the major support for lower prices to follow.  Remain defensive inside the 974 - 948 neutral area.
       
Day trades:  For the September contract -
 
Aggressive traders can sell rallies near 964 - 966.50 area for obj. near 960 - 958 area.  (Use a protective buy stop at 970.70.  Do not rev. long).
 
Aggressive traders can sell rallies near 973 - 974.50 area for obj. near 967 - 964 area and possibly near 962.  (Use a buy stop and rev. long at 978).
 
NOTE:  If the market opens above 955 - Aggressive traders can attempt long positions near 955 - 952 area for obj. near 962 - 965 area.  (Use a sell stop and rev. short at 944).  (Conservative traders can use a protective sell stop at 947.  Do not rev. short).
 
Buy stop at 978 for obj. near 982 - 985 area and possibly near 988 - 990 area.
 
Sell stop at 944 for obj. near 940 - 939 area.
Sell stop at 934 for obj. near 931 - 929 area and possibly near 925.
Sell stop at 923 for obj. near 919 - 917 area.
Sell stop at 913 for obj. near 907 - 903 area.
 
Long-term short positions can continue to hold short positions and use a protective buy stop at 1086.  
 

* 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 7/05/02 (10:49 am est) 

The buy stop was hit at 978 meeting the obj. at 982 to complete the trade.  At this time, the market is showing resistance at the 982 area that can possibly stimulate lower prices.   

Aggressive traders can attempt short positions at the 979 - 982 area for obj. to reach 973 - 968 area and possibly 965.  (Use a protective buy stop at 994.70.  Do not rev. long). 

Results:    7/05/02

Sold @ 965            Bought @ 970.70    = - $1,425.00
Sold @ 974            Bought @ 978        =  - $1,000.00
Bought @ 978        Sold @ 982            = + $1,000.00
As per bulletin
Sold @ 980.50       Bought @ 991         =  - $2,625.00
TOTAL (P & L)                                         - $4,050.00

The week in review - 7/08/02 - 7/12/02
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 07-08-02 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of 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. 
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: 
992 minor GBX channel and 993 top (major area) / 994 minor day channel and 995.80 day top also 996.50 GBX top (major area) / 1000 weekly channel also 1002 major day channel (very major area) / 1003.20 day top and 1007.50 weekly top also 1007.80 day gap (very major area) / 1013.70 GBX top (major) / 1020.30 day session close (major) / 1025 day top and 1025.50 GBX top also 1026 minor day channel (very major area) / 1039 day top and 1042.40 GBX top also 1045 day gap and 1045.50 weekly top (very major area) / 1048 major weekly channel (very major area).            
          
Support: 
987 intra-day channel (major) / 981.60 base also 979.20 and 979.10 double base (major area) / 976.80 intra-day channel and 976 day channel (very major area) / 964 day bottom to 953.20 day gap (major area) / 948.50 base and 947.60 day session close (major area) / 941.20, 939.20 and 938.20 intra-day base area (major area) / 936.10 base and 935 bottom (very major area).
 
Comments:
    The rally on Friday brought prices up just above last weeks settling price but just below the previous weeks close leaving the chart totally neutral.  The rally on Friday did remove the bearishness from the chart but is still facing the 1000 - 1002 resistance area, which can keep the pressure on the downside.  A trade above 1002 and 1007.50 areas will be considered a breakout for prices to challenge the 1025 and 1048 areas again.  A trade below 976 today is bearish but a trade below the 964 bottom will confirm the downtrend intact for lower prices to follow.  Remain defensive inside the 1000 - 976 neutral area.
           
Day trades:  For the September contract -
 
Aggressive traders can sell rallies near 999 - 1000 area for obj. near 987 and possibly near 983 - 981 area.  (Use a buy stop and rev. long at 1003.70).
 
Aggressive traders can buy dips near 981 and if possible near 976 area for obj. near 989 - 991 area and possibly near 993.  (Use a sell stop and rev. short at 973).
 
Buy stop at 1003.70 for obj. near 1007.80 area and possibly near 1009 - 1013 area.
Buy stop at 1017 for obj. near 1020 - 1022 area and possibly near 1026.
 
Sell stop at 973 for obj. near 967 - 964 area.
Sell stop at 959 for obj. near 955 and possibly near 953 area.
 
Long-term short positions can continue to hold short positions and use a protective buy stop at 1086.
 

* 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 - For New Subscribers - Originally sent 7/08/02 (10:25 am est) 

The sell off down to the 981.50 created a minor double bottom and should be considered near enough to the 981 buying area for long positions to be considered.

Bulletin - Originally sent 7/08/02 (1:54 pm est) 

The sell off today brought prices down for long positions to be taken at 981.50 and again at 976.  The rally at this time is showing resistance at 984.  Long positions should consider taking profits at this level, which will complete the trade for both long positions.

Bulletin - For New Subscribers - Originally sent 7/08/02 (1:57 pm est)

Traders missing to exit the long position at 984 should exit near 982 to complete the trade.

Results:    7/08/02

Bought as per bulletin
Bought @ 981.50        Sold @ 983             =     + $   375.00
Sold as per bulletin
Bought @ 976             Sold @ 983             =     + $1,750.00
Sold @ 973                 Bought @ 978.30    =     -  $1,325.00
TOTAL (P & L)                                                  + $  800.00
 
     thetechguru.com
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 07-09-02 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of 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. 
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: 
980.30 peak and 981.30 intra-day channel (major area) / 983.80 and 985.30 intra-day peaks (major area) / 990 day channel and 992.20 GBX channel also 992 and 992.50 minor channels (major area) / 999 major day channel also 1000 weekly channel (very major area) / 1003.20 day top and 1007.50 weekly top also 1007.80 day gap (very major area) / 1013.70 GBX top (major) / 1020.30 day session close (major) / 1024 minor day channel also 1025 day top and 1025.50 GBX top (very major area).
 
Support: 
976.50 intra-day channel and 976.20 base (major area) / 974.50 intra-day channel and 973 bottom (major area) / 966 GBX channel and 964 bottom (very major area) / 955 rev. peak to 953.20 day gap also 950.10 GBX bottom (very major area) / 947.60 day session close (major) / 941.20, 939.20 and 938.20 intra-day base area (major area) / 936.10 base and 935 bottom (very major area) / 925 minor down channel (major).
 
Comments:
    The sell-off on Monday from the resistance proves the significance of the area and the close put the chart in neutral to slightly bearish condition.  A trade below 966 - 964 area today is bearish and can bring prices down to challenge the 953.20 gap area and possibly lower.  A trade above 992.50 today is bullish and a trade above 999 - 1000 area will be considered a breakout for higher prices.  Remain defensively bearish inside the 990 - 966 neutral area. 
               
Day trades:  For the September contract -
 
Aggressive traders can sell rallies near 979 - 981 area or buy dips near 976 - 974.50 area, whichever side comes first, to complete the trade.  (Use a buy stop and rev. long at 994.70).  (Conservative trades can use a protective buy stop at 985.70.  Do not rev. long).  (Use a sell stop and rev. short at 972.80).
 
Aggressive traders can sell rallies near 989.50 - 992.50 area for obj. near 985 and possibly near 983 - 981 area.  (Use a buy stop and rev. long at 994.70).
 
Buy stop at 994.70 for obj. near 997 - 999 area and possibly near 1000.
Buy stop at 1009 for obj. near 1013 area.
Buy stop at 1016 for obj. near 1020 and possibly near 1022 - 1024 area.
 
Sell stop at 972.80 for obj. near 968 - 966 area.
Sell stop at 961 for obj. near 957 - 955 area and possibly near 953.20 gap area.
 
Long-term short positions can continue to hold short positions and use a protective buy stop at 1086.
 

* 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 7/09/02 (9:39 am est)

The rally up to the 978 area is considered near enough to complete the first trade which was a buy at 975.

Bulletin  - Originally sent 7/09/02 (11:05 am est)

The sell stop was hit at 973 where short positions were taken.  Rallies from this area can be considered an additional selling opportunity.  The protective sell stop still remains at 981.50.  The short position taken at 973 is still open for the obj. of 968 - 966 area.

Bulletin  - For New Subscribers - Originally sent 7/09/02 (11:21 am est)

When the sell stop was hit at 972.80, short positions were taken.  In order to evaluate where a protective buy stop belongs for this particular trade is as follows: 

Moving back two forward slash areas in the support and resistance columns, you will find; when the market failed to hold the 974.50 and 973 support area, the system went short.  You will notice the first forward slash area listed before the 973 support was at 976.50 and 976.20 area which is now considered the first resistance.  The second forward slash area listed was at 980.30 - 981.30 area, which is now considered the second resistance.  Therefore, the protective buy stop must be placed above the 981.30 resistance area, which is the second resistance at this time.  And so it was decided to use 981.50 as a protective buy stop at this time.  

Anyone wishing to revue this further may call Roger at (540) 843-4878. 

Bulletin  - Originally sent 7/09/02 (11:37 am est)

The rally up to the 980.50 area was taken as a selling opportunity.  Short positions were entered at 979.  The two short positions, one at 972.80 and 979 gives an average for both trades at 975.90.  At this time it is recommended for traders to take profits as soon as the market trades below the 975.90 area to complete these trades. 

Bulletin  - Originally sent 7/09/02 (11:43 am est)

The sell off down to 974.50 now completes the trade for both short positions at a profit.

Bulletin  - Originally sent 7/09/02 (2:55 pm est)

The sell-off brought the market down to hit the 961 sell stop, putting traders into the short position.  Because the sell-off was so steep from the 964 area, there is a possibility for the market to create support with the oversold condition.  The condition of the chart formation is not worthy to attempt holding the short position at this time. 

It is recommended for all short positions to exit and scratch the trade.  There is a possibility for the market to work into lower prices but the trade seems to risky to hold at this time. 

Results:    7/09/02

Bought @ 975             Sold @ 978           =      + $   750.00
Sold @ 979                 Bought @ 976       =      + $   750.00
Sold @ 972.80             Bought @ 974.50  =      -  $   425.00
As per bulletin
Sold @ 979                 Bought @ 974.50   =      + $1,125.00
As per bulletin
Sold @ 961                 Bought @ 961       =         $     -0-     
TOTAL (P & L)                                                 + $2,200.00
 
     thetechguru.com
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 07-10-02 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of 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. 
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: 
955.50 peak and 956 intra-day channel also 957.50 peak (major area) / 964 intra-day channel and 965.50 peak (very major area) / 967 GBX channel and 968 day channel (very major area) / 972.50 intra-day channel and 974.50, 974.80 and 975.20 congestion peaks (major area) / 980.50 day top and 981.70 GBX top (major area) / 986 day channel and 989 GBX channel (very major area) / 990.50 and 991 minor channels also 991 weekly close (very major area) / 996 major day channel also 996 and 996.50 GBX tops and 1000 weekly channel (very major area).
 
Support: 
950.10 GBX bottom (major) / 947.60 day session close (major) / 941.20, 939.20 and 938.20 intra-day base area (major area) / 936.10 base and 935 bottom (very major area) / 925 minor weekly down channel (major) / 917.70 monthly bottom and 917 long-term weekly down channel (very major area) / 910 down channel (major) / 903 monthly bottom and 902 down channel (very major area).
 
Comments:
    The sell-off on Tuesday brought prices down to a very critical support area filling the daily gap at 953.20 and managed to close above the 953.20 closing price.  A trade below the 950.10 GBX bottom and the 947.60 lowest settling price from July 2 will put the chart in totally bearish territory for lower prices to follow.  If the market can hold above the 950.10 - 947.60 area today, then rallies can develop but is expected to be short lived.  Because of the overall bearish condition, rallies should be considered a selling opportunity.  A trade above 964 - 965.50 area and again above 967 - 968 area will take the chart out of bearish condition but only a trade above 986 - 989 area can bring solid bullishness back to the chart.  A trade above 996 - 1000 area will confirm a breakout and a change of momentum trend to the upside.  Remain overall bearish until the market can prove to trade above 968 and again above 996 - 1000 area.    
               
Day trades:  For the September contract -
 
Aggressive traders can sell rallies near 957 for obj. near 953 to complete the trade.  NOTE:  If rallies continue before this trade is complete, then follow the next aggressive trade and exit both short positions at the obj. or stop listed in that trade.
 
Aggressive traders can sell rallies near 964 - 965.50 area and if possible near 967 - 968 area for obj. near 958 and possibly near 955 area.  (Use a buy stop and rev. long at 976.70).  (Conservative traders can use a protective buy stop at 969.20.  Do not rev. long).
 
Buy stop at 976.70 for obj. near 979 - 980 area.
Buy stop at 982 for obj. near 985.50 and possibly near 988 area.
 
Sell stop at 949.80 for obj. near 947 - 946 area and possibly near 943 area.
Sell stop at 932 for obj. near 927 - 925 area.
Sell stop at 922 for obj. near 918 - 917 area and possibly near 915.50.
 
Long-term short positions can continue to hold short positions and use a protective buy stop at 1086.
 

* 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 7/10/02 (9:42: am est)

The market reached the sell area at 957 where short positions were taken.  The sell off down to the 953.50 area is considered close enough to complete the trade where traders should have considered taking profits.  The trade is now considered complete.  Anyone missing the buy area at 953.50 should exit the short position even if it is a scratch for this trade.

Bulletin - Originally sent 7/10/02 (2:46 pm est)

The technical condition still remains bearish but the 922 sell stop is now in a position to be a technical double bottom to the 923 low if it gets there.  It is recommended to cancel the 922 sell stop, which was recommended from today's report. 

Results:    7/10/02

Sold @ 957.50             Bought @ 953.70       =      + $   950.00
Sold @ 949.80             Bought @ 947            =      + $   700.00
Sold @ 932                 Bought @ 926            =      +  $1,500.00
TOTAL (P & L)                                                       + $3,150.00
 
     thetechguru.com
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 07-11-02 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of 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. 
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: 
922.50 and 924 intra-day channels (major area) / 928.20 peak and 928.50 intra-day channel (major area) / 932.50 peak (major) / 937 day channel and 942 GBX channel (very major area) / 952 GBX channel and 954 day channel also 954 day session close (very major area) / 958 day top and 961.10 GBX top (major area)
 
Support: 
917.70 day bottom and 917.70 monthly bottom (very major double bottom area) / 915 weekly down channel also 914.50 and 914 daily down channel (very major area) / 909 and 907 daily down channel (major area) / 903 monthly bottom and 899 daily down channel (very major area) / 876 and 974 daily down channels (very major) / 844 monthly bottom (very major area) / 818 which is the 50% retracement area on the long-term monthly chart (very major area).
 
Comments:
    The sell-off on Wednesday brought prices down to the 917.70 monthly bottom, which is a very major area.  A trade below the 917.70 and 914 area will put additional bearishness to the chart for prices to challenge the 903 monthly bottom.  A trade below 903 - 899 area can bring prices down to challenge the 876 and 844 monthly bottom area and possibly down near the 818 area, which is the 50% retracement area on the monthly chart and the main obj. for long-term short positions to exit as mentioned.  A trade above 928.50 - 932.50 area can bring prices up to challenge the 942 and possibly 952 area but only a trade above 954 can bring any bullishness back to the chart.  Remain bearish until the market can prove otherwise.
 
Day trades:  For the September contract -
 
Aggressive traders can sell rallies near 922 - 924 area and if possible near 928 for obj. near 918 - 915 area.  (Use a protective buy stop at 936.  Do not rev. long)
 
Very aggressive traders can attempt long positions near 915 - 914 area for obj. near 918 - 919 area.  (Use a sell stop and rev. short at 910.80).
 
Very aggressive traders can attempt long positions near 903 - 899 area for obj. near 910 - 912 area.  (Use a sell stop and rev. short at 894).
 
Sell stop at 910.80 for obj. near 907 and possibly near 903.
Sell stop at 894 for obj. near 884 - 876 area.
Sell stop at 870 for obj. near 860 and possibly near 850 - 844 area.
Sell stop at 838 for obj. near 825 - 818 area.
 
Buy stop at 945 for obj. near 950 - 954 area.
 
Long-term short positions can continue to remain short for obj. near 818.  (Use a protective buy stop at 1086). 
 

* 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 7/11/02 (9:45 am est)

The market sold off hitting the sell stop at 910.80 putting traders in short positions.  The market seems to be holding near the 909 support area that could stimulate rallies.  It is recommended for all short positions to exit and scratch the trade.  Attempt to buy as near to the 909 as possible. 

Bulletin - Originally sent 7/11/02 (12:45 pm est)

The buy area at 903 was hit where very aggressive traders attempted the long position.  Since this is a very aggressive trade, it would be wise to exit at this first rally seen at 908 to complete the trade.

Results:    7/11/02

Bought @ 914.50        Sold @ 910.80          =  - $   925.00
As per bulletin
Sold @ 910.80            Bought @ 908          =  + $   700.00
Sold @ 923                 Bought @ 916.50     =  +  $1,625.00
As per bulletin
Bought @ 903            Sold @ 908               =  + $1,250.00
TOTAL (P & L)                                                 + $2,650.00
 
     thetechguru.com
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 07-12-02 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of 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. 
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: 
927.50 GBX channel (major) / 932.50 peak (major) / 936 GBX channel (major) / 939 peak and 941 day channel (very major) / 944.30 peak (major) / 951.50 intra-day channel also 953.50 peak and 954 day session close (very major area) / 958 day top and 961.10 GBX top (major area) / 967.80 and 970.50 peaks (major area) / 974.80 and 975.20 peaks (very major area) / 978.50 day channel and 981.50 GBX channels (very major area).
 
Support: 
921 intra-day channel (major) / 914.50 base and 914.20 rev. peak (very major area) / 907 and 906.50 base area (major area) / 901.50 base and 900.50 bottom (very major area) / 895 daily down channel (major area) / 967.50 daily down channel (very major).
 
Comments:
    The recovery rally on Thursday from the major support area was significant, removing the chart out of totally bearish condition and bringing it neutral to slightly bearish.  The market can stimulate rallies but faces resistance at the 941 and 951.50 area that can possibly hold back any further rallies.  A trade above 951.50 - 954 area will put the chart in neutral condition for prices to challenge the 981 area again.  Only a trade above 981.50 and 990 can reverse the momentum to the upside.  A trade today below the 914.20 area is bearish and a trade below 906.50 will keep the downtrend intact for lower prices to follow.  Remain defensively bearish until the market can prove to trade above the 941 and 951.50 areas. 
   
Day trades:  For the September contract -
 
Very aggressive traders can attempt to buy near 927.50 and sell near 932, whichever side comes first to complete the trade.  (Use a protective sell stop at 925.50.  Do not rev. short).  (Use a protective buy stop at 934.  Do not rev. long).
 
Aggressive trader can sell rallies near 936 - 939 area and if possible near 941 for obj. near 931 - 930 area.  (Use a buy stop and rev. long at 945.20).
 
Aggressive traders can attempt long positions near 916 - 914.50 area for obj. near 921 and possibly near 923.
 
Buy stop at 945.20 for obj. near 949.50 - 951.50 area.
Buy stop at 954.50 for obj. near 957.50 - 960 area.
 
Sell stop at 919.80 for obj. near 916.50 and possibly near 914.50 area.
Sell stop at 911.50 for obj. near 908 - 907 area.
Sell stop at 892 for obj. near 880 - 875 area and possibly near 868.
 
Long-term short positions can continue to remain short for obj. near 818.  (Use a protective buy stop at 1086). 
 

* 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 7/12/02 (9:53 am est)

The sell stop was hit at 919.80 where short positions were taken.  The market seems to be holding support at the 917.50 area and should be considered a buy to exit and take profits. 

Results:    7/12/02

Sold @ 932               Bought @ 927.50         = + $1,125.00
Sold @ 919.80           Bought @ 917             = +  $  700.00
Bought @ 915.50       Sold @ 921                 = + $1,375.00
Sold @ 936               Bought @ 931             = + $1,250.00
TOTAL (P & L)                                                + $4,450.00

The week in review - 7/15/02 - 7/19/02
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 07-15-02 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of 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. 
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: 
921 day channel and 922.50 intra-day channel (major area) / 924 peak and intra-day gap (major) / 927 day channel and 927.50 intra-day channel (very major area) / 931 intra-day channel also 931.70 - 931.80 double peaks (major area) / 934.30 peak and 936 day top (very major area) / 940.90 GBX top (major) / 944.30 intra-day peak (major) / 953.50 peak and 954 day session close (major area) / 958 day top and 961.10 GBX top (very major area) / 975 day channel and 978 GBX channel (very major area) / 980 weekly channel (very major area)
 
Support: 
916.50 intra-day channel also 915, 914.70 and 914.50 base areas (major area) / 913.30 and 913.10 double bottom area (very major) / 906.50 intra-day base (major) / 901.50 base and 900.50 bottom (very major area) / 895 newly developed daily down channel (major) / 891 and 890 daily down channel (major area) / 885 weekly down channel (very major) / 862 daily down channel (major) / 844 weekly bottom (very major).
 
Comments:
    Friday's sell-off and close leaves the chart in bearish territory.  Rallies up near the 921 and 927 areas should be considered a selling opportunity.  A trade above 927.50 and 931.80 area can possibly bring prices up to challenge the 936 and 940.90 top areas but only a trade above 954 can bring any bullishness back to the chart.  A trade below 906.50 is bearish and a trade below 895 - 890 will keep the downtrend intact.  A trade below 885 will confirm lower prices and can challenge the 818 bottom and 848 retracements area.  Remain bearish until the market can prove otherwise.
       
Day trades:  For the September contract -
 
Aggressive traders can sell rallies near 919 - 921 area for obj. near 916.50 - 914.50 area.  (Use a buy stop and rev. long at 937).  (Conservative traders can use a protective buy stop at 923.70.  Do not rev. long).
 
Aggressive traders can sell  rallies near 926 - 927.50 area for obj. near 921.50 and possibly near 919.  (Use a buy stop and rev. long at 937).
 
Buy stop at 937 for obj. near 940 - 941 area.
Buy stop at 946.20 for obj. near 949.50 - 950.50 area.
 
Sell  stop at 911.50 for obj. near 908 and possibly near 906.50.
Sell stop at 905 for obj. near 902 and possibly near 901.50.
Sell stop at 899.50 for obj. near 895.50 and possibly near 891 - 890 area.
Sell stop at 882 for obj. near 872 - 865 area and possibly near 861.
 
Long-term short positions can continue to remain short.  (Use a protective buy stop at 1050). 
 

* 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 7/15/02 (9:45 am est)

The sell stop at 905 was hit putting traders into the short position.  The market did not reach the obj. at 902 but is showing support at 903 - 903.50 double bottom and can possibly stimulate rallies.  It is recommended to exit short positions and scratch the trade.

Bulletin  - Originally sent 7/15/02 (10:25 am est)

The sell stop at 899.50 was hit putting traders in a short position.  Apparently the 898.50 is showing support and putting the trade into a losing position.  It was found that 898.50 was a newly developed down channel line on the daily chart that was overlooked and should be considered support.  It is recommended for traders to exit the short position and cut losses as soon as possible.

Bulletin  - Originally sent 7/15/02 (3:07 pm est)

The market sold off hitting the sell stop at 882, putting traders into short positions.  The obj. was never met at 872 and began to reverse to the upside.  After doing research on the technicals in the Dow, it was found that the 8244 level was the very major support on the monthly chart.  If the Dow holds this support it could reverse the market to the upside.  It is recommended for all short positions to exit and cut losses.

Bulletin  - Originally sent 7/15/02 (3:18 pm est)

All long-term position traders holding short positions from the 1173 - 1177 area recommended on March 8, should now consider taking profits.  The possibility of a temporary bottom could be in works.  It is not recommended to hold short positions for the extra points of the main obj. which was 818.  There is still a possibility for the market to reach the 818 area, but only if the Dow can trade below the 8244 major support, which was made today.  

Anyone wishing to speak with Roger for a closer review of position trades can call (540) 843-4878.

Results:    7/15/02

Sold @ 911.50           Bought @ 908     =      + $  875.00
As per bulletin
Sold @ 905               Bought @ 905      =        $      -0-
As per bulletin
Sold @ 899.50           Bought @ 899.50     =    $      -0-
Sold @ 882               Bought @ 893              - $2,500.00
TOTAL (P & L)                                              - $1,625.00
Long-term short position - Sold @ 1173 (on 3/08/02)           Bought @ 896 (on 7/15/02)    = + $69,250.00
 
     thetechguru.com
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 07-16-02 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of 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. 
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: 
924 intra-day peak (major) / 928.50 intra-day channel (major) / 934.30 peak and 936 day top (very major area) / 940.90 GBX top (major) / 944.30 intra-day peak (major) / 953.50 peak and 954 day session close (very major area) / 958 day top and 961.10 GBX top (very major area) / 971 and 974 day channels (very major area).
 
Support: 
917 intra-day channel and 916 base (major area) / 909 and 906.50 intra-day bases (major area) / 896.30 and 894.80 rev. peaks (very major area) / 890 intra-day gap (major) / 884 base (very major) / 875.50 bottom and 871.50 newly developed down channel (very major area) / 856 down channel (very major) / 844 weekly bottom (very major).
 
Comments:
    The sell-off and then recovery rally on Monday was a significant move removing some of the bearishness from the chart leaving the chart in neutral territory.  Overall, the major trend is still down but with the neutral condition in the chart there is a possibility of sideline action with whiplashing to both sides that could last for days.  If the market can hold above the 896 - 890 area and trade above 936, then the possibility of a base formation can develop for prices to challenge the 960 - 980 area.  Only a trade above the 980 area can bring any solid bullishness back to the chart.  A trade below 890 is bearish and a trade below 971.50 will confirm the downtrend intact for lower prices to follow.  Remain defensive inside the 928.50 - 894.80 neutral area.
           
Day trades:  For the September contract -
 
Aggressive traders can sell rallies near 922 - 924 area and if possible near 928 for obj. near 909 - 906.50 area.  (Use a buy stop and rev. long at 929.50).
 
Aggressive traders can attempt long positions near 896 - 894.80 area for obj. near 906 and possibly near 909 area.  (Use a sell stop and rev. short at 888.80).
 
Buy stop at 929.50 for obj. near 933.50 - 934.50 area and possibly near 936.
Buy stop at 945.50 for obj. near 951 - 953 area.
 
Sell stop at 888.80 for obj. near 884.50 - 884 area.
Sell stop at 881 for obj. near 876 - 872 area.
Sell stop at 868.50 for obj. near 860 - 856 area.
Sell stop at 853 for obj. near 847 - 844 area.
 
NEW Long-term short positions can re-enter the short position on a sell stop at 868.50 for the main obj. near 818 and possibly lower.  (Use a protective buy stop at 1010).
 

* 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 7/16/02 (11:25 am est)

The rally seen from the low-end of the neutral area at 896 meeting the obj. at 906 completed the first trade.  The continuation of the rally to 919.50 and then creating a double top at 919 was considered the sell area meeting the obj. at 909 to complete the trade.  It must be noted that even thought the sell area originally was 922, when the market created the double top condition at 919, traders should consider this as a sell.  

If the market continues to rally from the 909 area into new highs, a sell can be attempted at 928, which is the high end of the selling area from the first trade. 

Results:    7/16/02

Bought @ 896.50           Sold @ 906            = + $2,375.00
Sold @ 919                    Bought @ 909       =  + $2,500.00
TOTAL (P & L)                                                + $4,875.00
    
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 07-17-02 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of 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. 
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: 
904.50 and 906 peaks (significant) / 912 day channel and 913 intra-day channel (major area) / 915.50 minor GBX channel also 916.30 and 916.50 peaks (major area) / 918 minor channel and 920 day top also 920.60 day gap and 921.20 day top (very major area) / 923.80 GBX top and 924 peak (major area) / 926.90 day session close (major) / 931.80 and 934.30 peaks (major area) / 936 day top (very major) / 940.90 GBX top and 944.30 peak (major area) / 954 day session close (very major) / 957 peak and 958 day top also 961.10 GBX top (major area) / 967 and 971 major day channels (very major area).
 
Support: 
899.50 intra-day channel (major) / 897.50 base and 896 day bottom (major area) / 893.60 GBX bottom and 891 intra-day down channel (very major area) / 884 intra-day base (major) / 878 base and 875.50 bottom (very major) / 866.50 down channel (very major area) / 850.50 down channel and 844 weekly bottom (very major area).
 
Comments:
    Tuesday's trading session remained inside the neutral range and brought whiplashing to both sides as expected.  The sell-off and rally seen in the overnight (A.M.) session on Wednesday adds to the whiplashing in this neutral area and can be taken as the beginning of a newly developed base formation.  A trade above 924 - 926.90 area today can stimulate buying for prices to challenge the 936 - 940.90 top area.  NOTE:  Only a trade above 967 - 971 area can bring any solid bullishness back to the chart.  A trade below 891 today is bearish and a trade below 875.50 will confirm lower prices to follow.  Remain very defensive inside the 926.90 - 891 neutral range.  It is still possible for a temporary bottom to develop as mentioned in the bulletins from Monday's session.
               
Day trades:  For the September contract -
 
If the market opens above 917, aggressive traders can attempt short positions near 920.50 - 923 area and if possible near 926 for obj. near 916.50 - 915.50 and possibly near 912.  (Use a buy stop and rev. long at 929).
 
Aggressive traders can attempt long positions near 899.50 - 896 area and if possible near 892 for obj. near 910 - 912 area.  (Use a sell stop and rev. short at 888.80).
 
Buy stop at 929 for obj. near 933 - 936 and possibly near 939.
Buy stop at 945.50 for obj. near 951 - 953 area and possibly near 956.
 
Sell stop at 888.80 for obj. near 884.50 - 884 area.
Sell stop at 881 for obj. near 876 - 875.50 bottom area.
Sell stop at 870.50 for obj. near 866.50.
Sell stop at 862 for obj. near 854 - 851 area and possibly near 844 bottom area.
 

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

Bulletin - Originally sent 7/17/02 (9:44 am est)

The 929 buy stop was hit and the market immediately sold off, which shows resistance.  It is recommended for traders to exit long positions immediately and cut losses.  The market is trading at 925.50 at this time.  

Aggressive traders can attempt short positions again.  (Use a buy stop and rev. long at 930.20).

Bulletin - Originally sent 7/17/02 (10:00 am est)

The market sold-off from the 929 level keeping short positions intact.  The obj. still remains for short positions to exit at 916.50 - 915.50 and possibly near 912 as mentioned in the first trade. 

Bulletin - Originally sent 7/17/02 (10:36 am est)

The sell-off down to the 917.50 and again to 917.10 is considered a double bottom and support for short positions to exit and not wait for 916.50 obj.  The short position is now completed with a profit. 

Bulletin - Originally sent 7/17/02 (12:33 pm est)

The market sold-off down to 901, which is near enough to the 899 - 896 area and where long positions can be considered.  Continue to use a sell stop and rev. short at 888.80.  The obj. for this trade is near 910 - 912.

Bulletin - Originally sent 7/17/02 (12:37 pm est)

Now that long positions were taken at 901.50, it is still possible for the market to continue into lower prices to 896 area where additional long positions can be considered using the sell stop and rev. short at 888.80.  If this area of 896 is hit the obj. still remains at 910 - 912. 

Bulletin - Originally sent 7/17/02 (2:04 pm est)

Long positions were taken at 901.50 and 896.  The market rallied to 909 where all long positions are now meeting the obj. to complete the trade.

Results:    7/17/02

Sold @ 924            Bought @ 929          =  - $1,250.00
As per bulletin
Sold @ 925.50        Bought @ 917.50     = + $2,000.00
As per bulletin
Bought @ 901.50    Sold @ 909              =  + $1,875.00
Follow-up bulletin confirms buy area
Bought @ 896        Sold @ 909              = + $3,250.00
TOTAL (P & L)                                          + $5,875.00
 
     thetechguru.com
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 07-18-02 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of 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. 
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: 
906 intra-day channel and 907.50 peak (major) / 910.50 peak (major) / 913.50 and 914 peaks (major area) / 919.30 peak and 919.50 day channel also 920 day channel and 920.50 peak (very major area) / 925.80 peak and 926 minor day channel including GBX prices also 927.50 minor day channel (very major area) / 929.50 day top also 930.80 intra-day peak (major area) / 934.30 intra-day peak and 936 day top (very major area) / 940.90 GBX top also 944.30 intra-day peak (major area) / 951.50 and 953.50 peaks also 954 day session close (very major area) / 963 and 967 major daily channels (very major area)
 
Support: 
904 newly developed day channel and 902.50 base (major) / 900 newly developed GBX channel (major) / 898.50 and 897.50 intra-day channels also 896.50 base and 896 GBX channel (very major area) / 894.50 bottom and 893 minor daily down channel also 892.20 GBX bottom and 891 GBX minor down channel (very major area) / 882 intra-day base (major) / 875.50 bottom (very major) / 861 daily down channel (major) / 845 daily down channel and 844 monthly bottom (very major area).
 
Comments:
     The whiplashing to both sides over the last two days did materialize as expected and remained inside the wide neutral range as mentioned.  The neutral range remains between 920 - 926 at the high end and 900 - 896 at the low end.  If the whiplashing, inside the neutral range, continues for the rest of the week it could turn out to be the first solid signal of a bottom formation that could take prices up near the 950 - 960 area for next week.  For now, a trade above 926 - 927.50 area can bring prices up to challenge the 936 and 940.90 top areas but only a trade above 963 - 967 area can prove to bring any solid bullishness back to the chart.  A trade below 900 is slightly bearish but a trade below 896 and 891 areas can bring prices down to challenge the 875.50 bottom again.  A trade below 871 will be considered a technical failure for lower prices to challenge the 844 monthly bottom and possibly down to reach the 818 area.  Remain defensive inside this extremely neutral area until a breakout is seen to either side.      
               
Day trades:  For the September contract -
 
Aggressive traders can sell rallies near 919 - 920 area and if possible near 924 - 926 area for obj. near 911 - 910.50 area and possibly near 905.  (Use a protective buy stop at 921.70.  Do not rev. long).
 
Aggressive traders can sell rallies near 924 - 926 area for obj. near 915 - 914 area and possibly near 911. (Use a protective buy stop at 936.70.  Do not rev. long).
 
Aggressive traders can buy dips near 900 - 896 area and if possible near 894 - 891 area for obj. near 908 - 911 area and possibly near 914.  (Use a sell stop and rev. short at 886.80).
 
Buy stop at 945.50 for obj. near 951 - 953 area.
 
Sell stop at 886.80 for obj. near 883 - 882 area.
Sell stop at 879 for obj. near 876 - 875.50 bottom area.
Sell stop at 870 for obj. near 862.50 - 861 area.
Sell stop at 858 for obj. near 848 - 845 area and possibly near 844.
 

* 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 7/18/02 (10:22 am est)

Long positions were taken between 900 and 896.  The obj. can be changed to 907, which will be just shy of the 907.75 high made this morning.  There is still a possibility for this market to rally near the 918 - 920 area where short positions can be attempted.

Bulletin - Originally sent 7/18/02 (11:29 am est)

The rally up to the 905.50 is showing some resistance.  It is recommended to exit the long positions and take profits instead of waiting for the 907 objective. 

Bulletin - Originally sent 7/18/02 (3:29 pm est)

Short positions were taken at 886.80 and is now meeting the obj.  We are exiting this short position at 884.

Results:    7/18/02

Bought @ 896         Bought @ 905.50           = + $2,375.00
Sold @ 886.80         Bought @ 884.30          = + $   625.00   
Sold @ 879             Bought @ 875.50          =  + $   875.00
TOTAL (P & L)                                                 + $3,875.00
 
     thetechguru.com
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 07-19-02 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of 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. 
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: 
877.50 intra-day channel and 878.50 peak (major area) / 879.50 and 880.50 intra-day channels (major area) / 883 day channel also 883.50 intra-day channel and 884.50 peak (very major area) / 886.50, 888 and 889 peaks also 886 and 888 intra-day channels (major area) / 894.50 rev. base and 897 intra-day channel (very major area) / 907.50 day top (major) / 910 day channel also 910.50 peak (very major area) / 914 peak (major) / 918.80 GBX top and 922 minor day channel (very major area).
 
Support: 
874 bottom and 873.50 newly developed minor down channel (major) / 868.50 long-term down channel (very major area) / 861.50 long-term down channel (very major) / 856 and 854 long-term down channel (very major area) / 844 monthly bottom (very major) / 830 weekly bottom (very major) / 820 weekly bottom and 818 50% retracement on the monthly chart (very major area).
 
Comments:
    The sell-off and close on Thursday leaves the chart in totally bearish condition but faces very major support levels in several areas that could finally base out this oversold condition.  If the market trades below 861.50 and 854 areas it will challenge the 844 monthly bottom.  A trade below 844 can bring prices down to challenge the 818, which is the 50% retracement area on the monthly chart.  If 818 is reached, it will bring the major chart in total neutral condition for prices to swing 50 to 75 points in both directions, which leaves prices to possibly base out near 750 and should be considered a long-term buying area.  At this time, a trade above 883 will be slightly bullish but only a trade above 922 can bring any solid bullishness back to the chart.  Remain defensively bearish with caution at the very major support areas listed.
                    
Day trades:  For the September contract -
 
Aggressive traders can sell rallies near 877 - 878 area and if possible near 883 for obj. near 870 - 868.50 area.  (Use a protective buy stop at 889.  Do not rev. long).
 
Buy stop at 900 for obj. near 907 - 910 area.
 
If the market opens above 868.50 then use a sell stop at 866.25 for obj. near 862.50 - 861.50 area.
 
If the market opens below 868.60 very aggressive traders can attempt long positions near 862.50 - 861.50 area for obj. near 867.50 - 868.50 area.  (Use a sell stop and rev. short at 859.50).
 
Sell stop at 859.50 for obj. near 856.50 and possibly near 854.
Sell stop at 851 for obj. near 847 - 844 area.
Sell stop at 840 for obj. near 832 - 830 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 7/19/02 (11:29 am est)

The sell stop at 858.50 was just hit, putting traders into short positions.  The market seems to be holding support at this area, and does not look worthy of meeting the obj. at this time.  It is recommended for traders to exit the short position and scratch the trade.

Bulletin - Originally sent 7/19/02 (4:11 pm est)

The market hit the sell stop at 840 and stopped dead with a reversal to the upside.  It is recommended to exit the short position at the best price possible or at the 844 area to cut losses.  Use a protective buy stop at 851.50 to protect the position in case it rallies before the liquidation.

Results:    7/19/02

Bought @ 862         Sold @ 868              = + $1,500.00
Sold @ 866.25         Bought @ 862.50     = + $   937.50   
Sold @ 859.50         Bought @ 860.50     = -  $   250.00
Sold @ 840             Bought @ 844          = -  $1,000.00
TOTAL (P & L)                                           + $1,187.50
 

The week in review - 7/22/02 - 7/26/02
The Tech Guru's S & P Day Trading Recommendations
    thetechguru.com
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 07-22-02 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of 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. 
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: 
848 intra-day channel also 848 and 849.50 peak (major area) / 852.50 intra-day channel and 853 peak (major area) / 856 and 857.50 intra-day channel also 857.50 and 860.50 peaks (major area) / 864 day channel and 864.50 peak (very major area) / 872 weekly channel and 872.50 day top (very major area) / 874 intra-day channel also 875.50 gap (major area) / 879 GBX top (major) / 891.70 intra-day gap (major area) / 901 major day channel (very major area).
 
Support: 
837 newly developed down channel (major area) / 830 weekly bottom (very major area) / 820.40 rev. peak on the monthly chart and 818, which is the long-term 50% retracement area on the monthly chart (very major area) / 810 weekly bottom and 805 rev. peak on the weekly chart also 802.80 monthly close (very major area) / 795.85 monthly bottom (very major area) / 770 weekly close and 768 weekly bottom (very major area) / 737.60 monthly bottom (very major area).
 
Comments:
    The sell-off and close on Friday leaves the chart in totally bearish territory but continues to face very major support areas while remaining in an over-sold condition that could stimulate rallies at anytime.  As mentioned in several of the previous issues, the 818 area was the main obj. for this major downtrend.  The 818 level, will be considered a neutral area on the long-term monthly chart where 50 to 75 point swings to both sides can develop and therefore trades down to the 750 level and up to the 900 level would not be out of line inside the wide monthly neutral range.  Traders should prepare for wide and volatile swings over the next few weeks.  NOTE:  A trade today above 872 - 875.50 area is slightly bullish but only a trade above 901 can bring any solid bullishness back to the chart, and only a trade above 970 can possibly reverse the major downtrend back to the upside.  A trade below 830 is bearish and a trade below 795.85 will confirm the downward move to possibly reach the 750 - 737 area, which for long-term position traders should be considered a major buying area.  Bottom picking is risky but with the oversold conditions and appetizing price levels at 750 - 737 area can prove to be a good buying opportunity for long positions and should pay-off at these levels. 
                        
Day trades:  For the September contract -
 
Aggressive traders can sell rallies near 846 - 849 area and if possible near 852 for obj. near 838 - 837 area and possibly near 834 - 830 monthly bottom area.  (Use a protective buy stop at 858.70.  Do not rev. long).
 
Aggressive traders can sell rallies near 863 - 864 area for obj. near 858 - 856 area and possibly near 853.  (Use a protective buy stop at 867.70.  Do not rev. long).
 
Aggressive traders can attempt short positions near 872 and 875 area, if it ever gets there for obj. near 864 - 862 area and possibly near 858.  (Use a buy stop and rev. long at 883.50).
 
Very aggressive traders can attempt long positions near 837 and if possible near 834 - 830 area for obj. near 843 and possibly near 845.  (Use a sell stop and rev. short at 827).
 
Very aggressive traders can attempt long positions near 810 and if possible near 805 for obj. near 818 - 820 area and possibly near 822.  (Use a sell stop and rev. short at 790).  (Conservative sell stops can be used at 799.80.  Do not rev. short).
 
Buy stop at 883.50 for obj. near 888 and possibly near 889 - 891 area.
 
Sell stop at 827 for obj. near 822 - 820.50 area and possibly near 818.
Sell stop at 815 for obj. near 810 and possibly near 805.
Sell stop at 790 for obj. near 775 - 770 area and possibly near 768.
 

* 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 7/22/02 (9:58 am est)

The buy at 837.50 was completed with a trade at 844.  Since the buy side came first, the sell at 846 and 852 will now be completed with an obj. at 845 and possibly near 843.  Do not wait for 838 on this trade.  It will be too risky. 

Bulletin - Originally sent 7/22/02 (12:37 pm est)

The sell stop at 815 was hit for an obj. near 810.  The 811 low on the S & P is considered good enough to complete the trade.

Results:    7/22/02

Bought @ 837.50    Sold @ 844            = + $1,625.00
Sold @ 847.50        Bought @ 845        = + $   625.00        The buy was as per bulletin
Sold  @ 852            Bought @ 845       = + $1,750.00         The buy was as per bulletin
Sold @ 827             Bought @ 821       = + $1,500.00
Sold @ 815             Bought @ 811       = + $1,000.00
Bought @ 811         Sold @ 819           = + $2,000.00
TOTAL (P & L)                                        + $8,500.00
 
     thetechguru.com
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 07-23-02 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of 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. 
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: 
822 day channel and 822 peak (major area) / 826.50 peak (major) / 829 peak and intra-day gap also 830.50 peak (major area) / 832 intra-day gap and 832.50 day channel (major area) / 837 intra-day peak also 840 day channel and 841 intra-day channel (very major area) / 844 weekly close also 844 and 845 intra-day peaks (major area) / 856 day top (very major) / 863 intra-day channel and 864.50 peak (very major area) / 872 weekly channel also 872.50 day top to 875.50 day gap (very major area).
 
Support: 
817 base (major) / 811 day bottom and 810 weekly bottom (very major area) / 805 weekly down channel and rev. peak also 802.80 monthly close (very major area) / 795.85 monthly bottom (very major area) / 770 weekly close and 768 bottom (very major area) / 737.60 monthly bottom (very major area).
 
Comments        
    The sell-off and close on Monday leaves the chart in bearish territory but continues to face very major support areas that could possibly stimulate some rallies.  The oversold condition and the 818 area, which is the 50% retracement on the monthly chart can add to the stimulation of some new buying rallies up near the 826.50 - 832 area.  A trade above 840 - 844 can add to the buying for prices to reach up near the 856 to and 863 area but overall only a trade above 872 can bring any solid bullishness back to the chart.  A trade below 817 is bearish but a trade below 805 - 802.80 area can possibly challenge the 770 area and as low as 737.60 monthly bottom area.  Remain very defensive.  This major neutral area can stimulate wide swings in both directions.
                
Day trades:  For the September contract -
 
Aggressive traders can sell rallies near 829 - 832 area for obj. near 823 - 821 area.  (Use a protective buy stop at 837.50.  Do not rev. long).
 
Aggressive traders can attempt short positions near 840 - 844 area, if it gets there, for obj. near 834 - 832 area.  (Use a buy stop and rev. long at 845.70).
 
Aggressive traders can attempt long positions near 805 - 803 area for obj. near 817 and possibly near 821.  (Use a sell stop and rev. short at 799).
 
NOTE:  If the market opens above 822 aggressive traders can buy near 822 for obj. near 826 and possibly near 829.  If the market opens below 822 then traders can use a buy stop at 822.50 for the same obj. near 826.  (Use a protective sell stop at 816.  Do not rev. short).
 
Buy stop at 845.70 for obj. near 850 - 853 and possibly near 856 top area.
 
Sell stop at 799 for obj. near 796 - 795 area.
Sell stop at 790 for obj. near 776 - 772 area and possibly near 768.
Sell stop at 764 for obj. near 750 - 745 area and possibly near 737.60 bottom area.
 
Long-term short position traders can attempt to buy long positions near the 750 - 745 area, if it gets there for obj. near 1000 and possibly 1070 area.  (Use a protective sell stop at 723.  Do not rev. short).
 

* 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 - For S & P New Subscribers - Originally sent 7/23/02 (9:39 am est)

The market hit the buy stop at 822.50 putting traders into long positions.  The rally at 825.50 is considered near enough to the 826 obj. which completes the first trade.  For all the new subscribers, this is a perfect example of what the word "near" means and an example of how traders should take profits as soon as they can.  This is an example of yesterdays trade on the sell stop at 815.  The obj. was near 810, but as soon as the trader realizes he/she is in a profit, the trade should be completed, even if it is before the obj. is met.  The key is look to take profits as soon as possible. 

Bulletin - Originally sent 7/23/02 (12:45 pm est)

The market sold-off down to 806 which is close enough to the buy at 805 area for long positions to be taken.  Continue to use a sell stop and rev. short at 799.

Results:    7/23/02

Bought @ 822.50        Sold @ 825.25    = + $   750.00         
Sold @ 828.50            Bought @ 822     = + $1,625.00
Bought @ 806             Sold @ 799        = -  $1,750.00
Sold @ 799                 Bought @ 796    = + $   750.00
TOTAL (P & L)                                         + $1,375.00
   
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 07-24-02 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of 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. 
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: 
799 peak and 802 day channel also 802.50 peak (major area) / 805.50 intra-day channel (major) / 808 intra-day channel and 810 peak (major) / 813 intra-day channel and 814.90 peak also 816 day channel (major area) / 819.50 and 820.50 peaks also 822 peak and 822 day channel (very major area) / 826.50 peak and 829 day top (major area) / 836 GBX top and 840 rev. base (major area) / 844 weekly close and 845 intra-day peak (very major area).
 
Support: 
790 intra-day down channel (major) / 778 weekly down channel (very major) / 770 weekly close and 768 weekly bottom (very major area) / 758 weekly bottom (very major) / 737.60 monthly bottom (very major area).
 
Comments     
    The sell-off on Tuesday leaves the chart in bearish territory but continues to face very major support areas at 778, 758 and 737.60 that could possibly be used for a bottom to this oversold condition.  It is recommended for long-term position traders to look to buy dips near the 778 - 758 area and 737.60 bottom areas, if it gets there, that could possibly hold for a substantial recovery rally.  Day traders remain defensive.  The volatility can remain wide inside this area.    
                    
Day trades:  For the September contract -
 
Aggressive traders can sell rallies near 799 - 802 area for obj. near 790 and possibly near 788.  (Use a protective buy stop at 806.  Do not rev. long).
 
Aggressive traders can attempt short positions near 816 - 820 area if it gets there for obj. near 809 - 806 area.  (Use a protective buy stop at 825.  Do not rev. long).
 
Very aggressive traders can attempt long positions near 780 - 778 area and if possible near 772 -770 area for obj. near 790 - 795 area and possibly near 799.  (Use a sell stop and rev. short at 767).
 
Aggressive traders and long-term traders can attempt long positions near 760 - 758 area.  Day traders look for obj. near 775 - 779 area and possibly near 784.  Position traders can hold overnight.  (Use a protective sell stop at 754.  Do not rev. short).  (Positions traders can use a protective sell stop at 723).
 
NOTE:  Position traders can attempt long positions at 745 - 740 area if it gets there.  (Continue to use a protective sell stop at 723).
 
Sell stop at 767 for obj. near 760 - 758 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 7/24/02 (10:58 am est)

The market reached the obj. for the long positions and exit and complete the trade.  The rally brought prices up where short positions were taken at 800.  The sell off down to 793.50 seems worthy enough to complete the trade and take profits.  The market is showing too much strength to meet the obj. at 790 at this time.

Bulletin - Originally sent 7/24/02 (11:40 am est) 

The market hit the sell area at 816 and is now selling off at 811.50.  It is recommended for traders to take profits near 812 or better. 

Bulletin - Originally sent 7/24/02 (12:39 pm est) 

The market reached the high end of the sell area at 822 where short positions were taken for the second time and now the sell-off down to the 809 area completes the trade again. 

Rallies up to the high end of the sell area should not be repeated again.  The market will then be showing too much strength for possible rallies above the 829 top area. 

Bulletin - Originally sent 7/24/02 (3:35 pm est) 

The 844 is considered a very major resistance and should be considered a selling area.  Traders taking short positions should look to take 10 to 15 points profit on the trade.  Use a protective buy stop at 847.

Bulletin - Originally sent 7/24/02 (3:51 pm est)

The short position taken at 843 was completed with the sell off to 831.50.

If the market rallies, making a double top at 843 area again, it can be considered another selling opportunity.  If short positions are taken again it will be considered a higher risk but still a good chance to materialize into a profitable trade.  The protective buy stop must be placed at 849.50 if the trade is to be repeated. 

Results:    7/24/02

Bought @ 778        Sold @ 792.50        = + $3,625.00        
Sold @ 800            Bought @ 793.50    = + $1,625.00
Sold @ 816            Bought @ 812        = + $1,000.00
Sold @ 843            Bought @ 833        = + $2,500.00
Sold @ 844            Bought @ 844        =          -0-    
TOTAL (P & L)                                         + $8,750.00
Long-term position trade taken at 778 is now in a profit of $16,500 and this is still an open position for an obj. near 1000.
   
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 07-25-02 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of 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. 
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: 
850.50 intra-day peak (major) / 856 day top also 856.80 and 857.50 intra-day peaks (major area) / 860.50, 863.50 and 864.50 intra-day peaks (major area) / 869 peak and 872.50 day channel and day top also 872 weekly channel (very major area) / 875.50 day gap and 879 GBX top (very major area) / 889 and 891.70 intra-day peaks (major area) / 899.50 and 903.50 peaks also 907 peak and 907.50 day top (very major area).
 
Support: 
843 rev. peak and 841.50 intra-day channel (major) / 831.70 intra-day base (major) / 829 intra-day channel and rev. peak (very major) / 823 intra-day channel and 823 rev. peak also 821 base (major area) / 812 and 809.50 base (major area) / 804.50 base (very major area) / 801.50 rev. peak (major) / 790.50 base (very major) / 778.50 base (very major). 
 
Comments     
    The key reversal rally on Wednesday from the major support level removed the chart out of bearish condition and could possibly prove to be the first signal that a major bottom has been reached.  As mentioned in previous reports, over and over again, to prepare for a 50 point swing below the 818 neutral area for a major buying opportunity and it proved to be exact.  The market is now in neutral condition can still swing to both sides of the 856 to 804.50 trading range.  A trade above 856 is slightly bullish but only a trade above 872.50 can bring any solid bullishness back to the chart.  A trade below 829 is slightly bearish but a trade below 804.50 will bring the bearishness back to the chart.  Remain defensive until the market can prove to develop enough chart formation at this level to prove a solid direction.   
                        
Day trades:  For the September contract -
 
Aggressive traders can sell rallies near 845 - 848 top area and if possible near 850.50 for obj. near 833 - 831.50 area.  (Use a buy stop and rev. long at 858.70).
 
Aggressive traders can buy dips near 833 - 831.50 for obj. near 839.50 - 841.50 area and possibly near 843.  (Use a sell stop and rev. short at 827.80).
 
Aggressive traders can attempt long positions near 812 and if possible near 806 for obj. near 820 - 823 area.  (Use a sell stop and rev. short at 800).
 
Buy stop at 858.70 for obj. near 862 - 864 area.
Buy stop at 865.20 for obj. near 869 - 872 area.
 
Sell stop at 827.80 for obj. near 823 - 821 area.
Sell stop at 818.80 for obj. near 814 - 812 area and possibly near 809.50.
Sell stop at 800 for obj. near 795 - 792 area.
 
Long-term long position taken at 778 on Tuesday can hold position.  (Use a protective sell stop at 707.  Do not rev. short).
 

* 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 - For S & P New Subscribers - Originally sent 7/25/02 (10:00 am est)

The sell stop at 827.80 was hit where short positions were taken.  At this time rallies should be considered a selling opportunity.  The protective buy stop when moving back two forward slashes in the support and resistance areas, should be placed above 843, but because the 845 - 848 area is still considered a selling area then all protective buy stops must be placed above the 850.50 resistance.  Therefore, use a protective buy stop on all short positions at 851.50.

Bulletin - Originally sent 7/25/02 (11:51 am est)

Unfortunately the neutral condition whiplashed each and every buy and sell area that was listed in today's report.  At this time, the market remains in neutral condition and the only trades that should be taken at this time is the buy stop at 858.70 and a sell stop at 826.  

Rallies to the 851.50 - 854.50 double top area can be considered a sell.  Short positions taken at this double top area should use a buy stop and rev. long at 858.70

The sell stop at 826, if reached will have an obj. to 823 and possibly 821 area.    

Bulletin - Originally sent 7/25/02 (11:56 am est)

The obj. for the short position taken at 851.50 will be near 843 area, which is considered the neutral area.

Bulletin - Originally sent 7/25/02 (12:10 pm est)

The sell off down to 844.50 - 844 is good enough for the short position to take profits and exit the trade.

Bulletin - Originally sent 7/25/02 (3:30 pm est)

This bulletin is for long-term position traders only.  The long-term position trade taken at 778 on Wednesday is now in a position of too much neutral conditions in the chart to hold the long position.  It is recommended for long-term position traders to exit the trade at the market.  At this time the market is trading around 826 - 828 area. 

It is recommended for long-term positions to be re-entered only if the market can trade above 872.50 or returns down near the double bottom area and possibly as low as 720.  Wait for the next signal before re-entering long positions. 

Results:    7/25/02

Bought @ 833        Sold @ 827.80        = -  $1,300.00        
Buy stop as per bulletin        
Sold @ 827.80       Bought  851.50        = -  $5,925.00        
Sold @ 846.50       Bought @ 851.50     = -  $1,250.00       
Sell stop as per bulletin        
Sold @ 851.50       Bought @ 844.50     = + $1,750.00
Sold @ 826            Bought @ 823         = + $  750.00
Sold @ 818.80       Bought @ 814         = + $1,200.00
Bought @ 812.80   Sold @ 820             = + $1,800.00  
TOTAL (P & L)                                         -  $2,975.00
As per bulletin         
Long-term positions - Bought @ 788      Sold @ 826   = + $12,000.00   
 
     thetechguru.com
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 07-26-02 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of 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. 
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: 
840.50 newly developed day channel (major) / 844.50 intra-day channel also 844.50 and 846.50 peak (major area) / 849.50 and 852 peak also 849.50 minor day channel (major area) / 853 minor day channel also 854 and 856 day tops (very major area) / 864.50 intra-day peak (major)869 peak and 872.50 day top also 872 weekly channel (very major area) / 875.50 day gap and 879 GBX top (major area) / 889 and 891.70 intra-day peaks (major area).
 
Support: 
835.50 and 832 base (major area) / 824 and 820 base area (major area) / 818 intra-day channel and base (very major area) / 812 day bottom and 809.50 intra-day base (major area) / 804.50 intra-day base (very major) / 790.50 intra-day base (major) / 778.50 intra-day base and 773 bottom (very major area).
 
Comments  
    The sell-off on Thursday from the resistance area and the swings to both sides in this neutral area came as expected.  Unfortunately the sell stop on Thursday at 827.80 destroyed the flow of the numbers, which could have proved the day to have been profitable.  The neutral condition now remains between 840.50 and 818 and swings to both sides can still materialize.  A trade above 849.50 - 853 area is slightly bullish but only a trade above 872 can bring any solid bullishness back to the chart.  A trade below 818 is bearish and a trade below 804.50 can challenge the 773 bottom area and possibly reach down as low as the 720 monthly channel, which can prove to be the bottom of the entire move and a good buying opportunity for long-term positions.  Remain defensive inside this neutral area until enough chart formation develops to indicate a solid direction.  
                             
Day trades:  For the September contract -
 
Aggressive traders can sell rallies near 838 - 840 area and if possible near 842 for obj. near 835 - 833 area.  (Use a protective buy stop at 846.70.  Do not rev. long).  NOTE:  Very aggressive traders can hold this short position and follow the next aggressive trade and sell near 849 - 853 area for obj. to exit both short positions near 841 - 838 area.  (Use a buy stop and rev. long at 859).
 
Aggressive traders can attempt short positions near 849 and if possible near 851 - 853 area for obj. near 841 and possibly near 838.  (Use a buy stop and rev. long at 859).
 
Aggressive traders can attempt long positions near 820 - 818 area for obj. near 826 - 828 area and possibly near 832.  (Use a sell stop and rev. short at 815).
 
Buy stop at 859 for obj. near 862.50 - 864.50 area.
 
Sell stop at 829 for obj. near 826 - 824 area and possibly near 820.
Sell stop at 815 for obj. near 812 - 809.50 area.
Sell stop at 801 for obj. near 795 - 792 area and possibly near 790.50 bottom.
 
Long-term positions traders are not flat.  Look to re-enter long positions on a close above 872 or a sell-off near 778 and 760 area and again near 737.60 - 720 area.  (Use a protective sell stop at 707).
 

* 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 7/26/02 (9:39 am est) 

Short positions were taken on the opening at 843.  The sell off down to 836.50 is sufficient enough to take profits and exit the trade.

Results:    7/26/02

Sold @ 842.50            Bought @ 836.80         = +  $1,425.00
Sold @ 849                Bought @ 841              = +  $1,750.00
TOTAL (P & L)                                                  +  $3,175.00

The week in review - 7/29/02 - 8/02/02
The Tech Guru's S & P Day Trading Recommendations
    thetechguru.com
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 07-29-02 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of 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. 
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: 
854 day channel and 856 double top (very major area) / 864.50 intra-day peaks (major) / 869 peak and 872.50 day top (very major area) / 875.50 day gap and 879 GBX top (major area) / 886.50, 889 and 891.70 intra-day peaks (major area) / 899 minor day channel and 900 peak (very major area) / 904 and 907 peaks also 907.50 day top (major area).
 
Support: 
853 upper channel with GBX prices (major area) / 844, 843 and 842 base also 843.50 and 842 intra-day channels (major area) / 835 bottom (very major) / 830 rev. peak (significant) / 825 GBX bottom also 824 intra-day base (major area) / 820 intra-day base and 817.50 intra-day gap (major area) / 812 day bottom and 810 rev. channel (very major) / 804.50 intra-day base (very major) / 790.50 intra-day base (major) / 778.50 intra-day base and 773 bottom (very major area).
 
Comments  
    The rally on Friday from the 835 support proved the significance of the area and managed to bring prices up to close higher then last weeks closing price leaving the chart in neutral to slightly bullish condition.  A trade above the 872.50 - 875.50 gap area can bring prices up to challenge the 900 area again.  A trade and close above the 930 weekly top and 953 weekly channel can possibly reverse the major trend to the upside.  The wide neutral trading range between 879 and 810 can possibly stimulate whiplashing this week to both sides without proving a solid direction and will give the chart a chance to build data for further support rallies or resistance for lower prices.  Only a trade below 804.50 can bring any bearishness back to the chart and can stimulate enough selling pressure to bring prices down to challenge the contract lows and possibly lower.  Remain defensive until a breakout is seen to either side of the 879 - 810 neutral range.
                                 
Day trades:  For the September contract -
 
Aggressive traders can sell rallies near 867 - 869 area and if possible near 872 for obj. near 861 - 858 area and possibly near 856.  (Use a buy stop and rev. long at 882).
 
Aggressive traders can buy dips near 853.50 - 853 area for obj. near 861 - 864.50.  (Use a sell stop and rev. short at 850).
 
Aggressive traders can attempt long positions near 842 for obj. near 849 - 851 area.  Use a sell stop and rev. short at 829).
 
Buy stop at 882 for obj. near 886 - 889 area and possibly near 890.
Buy stop at 893.70 for obj. near 897 - 899 area.
 
Sell stop at 850 for obj. near 846 - 844 area and possibly near 842.
Sell stop at 829 for obj. near 825 - 824 area and possibly near 821.
Sell stop at 815.50 for obj. near 812 - 810 area and possibly near 808.
Sell stop at 801.50 for obj. near 795 - 792 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 7/29/02 (10:18am est)

The market rallied up to 880, which can actually be considered a low risk trade for aggressive traders to enter additional short positions in this area.  Traders entering short positions between 877 and 880 can continue to use a buy stop and rev. long at 882.

Bulletin - Originally sent 7/29/02 (10:38 am est)

The market hit the buy stop at 882 reversing the short positions into long positions.  The technical formation is leading the stochastics into overbought conditions and might cause prices to retrace lower from these areas.  It is too high of a risk to hold long positions at this time to attempt meeting the obj. at 886 - 889 area. 

It is recommended for traders to exit long positions and wait for better signals. 

Bulletin - Originally sent 7/29/02 (10:43 am est) 

The market reached a high today at 885 and immediately sold off from this area proving it's significance.  Very aggressive traders can attempt short positions in this area but must use a protective buy stop at 893.  This is considered a high risk trade because the momentum still remains to the upside, but technically the overbought condition can bring some retracements.  

Short positions can be taken between 881 and 884 area. 

Bulletin - Originally sent 7/29/02 (1:45 pm est)

The market was in overbought conditions this morning when it first reached 885.  At this time, the market is showing enough of support that could possibly stimulate further rallies.  It is recommended for traders to exit all short positions and wait for the next signal.  A trade below 877 will be considered bearish for prices to possibly reach 873 and 865 area.         

Bulletin - Originally sent 7/29/02 (2:10 pm est)

The 893.70 buy atop is still in effect where long positions will be taken.  Very aggressive traders can attempt short positions at the 889 - 890 area for obj. near 883 - 880.  (Use a buy stop and rev. long at 893.70). 

Bulletin - Originally sent 7/29/02 (3:20 pm est)

The buy stop was hit at 893.70 putting traders into long positions.  The rally to the 896.50 is considered the trade complete even though it did not meet exactly to the 897 obj. 

Results:    7/29/02

Sold @ 870.50        Bought @ 882        = - $2,875.00        
As per bulletin     
Sold @ 878.50        Bought  882           = -  $  875.00        
As per bulletin  
Bought @ 882        Sold @ 883            = + $  250.00 
As per bulletin
Sold @ 883            Bought @ 886.50   =  - $  875.00
As per bulletin
Sold @ 890            Bought @ 893.70   =  - $   925.00 
Bought @ 893.70    Sold @ 896.50       = + $  700.00
TOTAL (P & L)                                         - $4,600.00
 
     thetechguru.com
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 07-30-02 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of 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. 
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: 
894.50 newly developed channel (major area) / 897 newly developed minor channel and peak (major) / 900.50 day top and 904 intra-day peak (major area) / 907.50 day top (major) / 912.50 minor channel (very major) / 917.30 weekly closing price and 918.80 GBX top (major area) / 929.50 weekly top (very major area) / 936 day top and 939.50 channel also 940.90 GBX top (very major area) / 945 weekly channel (very major area).
 
Support: 
891.50 intra-day channel and base also 890 intra-day channel and 889 base (major area) / 883, 882 and 877.70 base areas (major area) / 869.50 bottom (major) / 864.50 intra-day channel and 861 intra-day channel (very major areas) / 856.50 intra-day channel and 856 rev. double peaks (very major area) / 853.70 weekly close and 844 weekly close (major areas).
 
Comments  
    The rally on Monday brought prices up to the top of the monthly neutral area and significantly overbought for a possible retracement of 50%, which can bring prices down near the 836.75 area again.  The chart remains in neutral to bullish condition.  A trade above the 900.50 top is bullish but a trade above the 929.50 weekly top will put the chart in totally bullish territory.  A trade above 945 - 951 area will confirm a breakout and change the major trend to the upside.  A trade below 961 is slightly bearish but a trade below 935 can bring prices down to challenge the 812 - 804.50 area and possibly as low as the 773 bottom again.  Remain defensive for possible retracements before the uptrend continues. 
                                     
Day trades:  For the September contract -
 
If the market opens below 894 aggressive traders can sell between 894 - 890 area for obj. near 886 and possibly near 884 area.  (Use a buy stop and rev. long at 913.70).  (Conservative traders can use a protective buy stop at 901.70).
 
Aggressive traders can attempt short positions near 904 - 907 area for obj. near 895 - 893 area.  (Use a buy stop and rev. long at 913.70).
 
Buy stop at 913.70 for obj. near 917 - 918 area and possibly near 921.
 
Aggressive traders can attempt short positions near 925 - 929 area, if it gets there, for obj. near 913.50 - 910 area and possibly near 907.  (Use a protective buy stop at 934.  Do not rev. long).
 
Sell stop at 888 for obj. near 886 - 884 area.
Sell stop pat 880.50 for obj. near 878 - 877.50 area.
Sell stop at 875 for obj. near 870 - 869.50 area and possibly near 865.
Sell stop at 860 for obj. near 856 and possibly near 854.
 
Position traders can hold short positions taken today for obj. near 865 and possibly near 856 are or exit at market on close. 
 

* 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 7/30/02 (2:39 pm est)

The market rallied up to the 904 - 907 sell area where short positions were taken.  The sell-off down to the 897.50 is showing some support and it would be wise to exit the short position and take profits at the 897.50 area or better, canceling the 895 objective.

Results:    7/30/02

Sold @ 890.50        Bought @ 885           = + $1,375.00        
Sold @ 888            Bought @ 885           =  +  $  750.00
Sold @ 905.50        Bought @ 897.50      =  + $2,000.00
TOTAL (P & L)                                            + $4,125.00
 
     thetechguru.com
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 07-31-02 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of 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. 
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: 
905.50 newly developed day channel (major) / 908 newly developed minor channel and 910.50 day top (major area) / 914 intra-day peak and 917.30 weekly closing price (very major area) / 918.80 GBX top and 920.20 intra-day peak (major area) / 929.50 weekly top (very major area) / 936 major day channel and 936 day top (very major area) / 940.90 GBX top (major) / 945 weekly channel and 948 major day channel (very major area) / 953.50 peak also 954 day session closing price and 958 day top (major area).
 
Support: 
900 minor channel with GBX prices also 898 minor day channel (major area) / 895.50 base and 892.50 base (major area) / 887.50 and 884 bases also 885.50 intra-day channel and 883.50 day bottom (major area) / 880 intra-day channel and 877.70 base (very major area) / 869.50 day bottom (major) / 856 rev. double peak and 853.70 weekly close (very major area).
 
Comments             
    The market closed on Tuesday in neutral to bullish territory but faces very major resistance at the 914 - 917.30 area and again at 929.50 and 936, which can put a lid on any further rallies for a while.  The overbought condition can add to the possibility of retracements from this area.  A trade above 914 - 917.30 area can challenge the 929.50 weekly top but a trade above 945 will confirm a breakout for higher prices and can rev. the major trend to the upside.  A trade below 900 - 898 is slightly bearish but a trade below the 883.50 - 877.70 area can bring prices down near the 853.70 gap and possibly near the 50% retracement of 844 - 836 area.  Remain defensive at this high end of the monthly chart's neutral range.
                          
Day trades:  For the September contract -
 
Aggressive traders can buy dips near 901 - 898 area for obj. near 905 - 908 area.  (Use a sell stop and rev. short at 897).
 
Aggressive traders can sell rallies near 914 - 917 area for obj. near 909 - 906 area.  (Use a protective buy stop at 921.70.  Do not rev. long).
 
Aggressive traders can attempt short positions near 926 - 929 area, if it gets there, for obj. near 915 and possibly near 910 - 907 area.  (Use a protective buy stop at 937.70.  Do not rev. long).
 
Buy stop at 910 for obj. near 914 and possibly near 917.
 
Sell stop at 897 for obj. near 895 - 893 area.
Sell stop at 891 for obj. near 887 - 884 area and possibly near 880.
Sell stop at 874.50 for obj. near 870.50 - 869.50 bottom area.
Sell stop at 866 for obj. near 861 - 858 area and possibly near 856.
 
Position traders can hold short positions taken today for obj. near 880 or exit at market on close.  (Use a buy stop and rev. long at 910).
 

* 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 7/31/02 (9:43 am est)

The market sold off hitting the 897 sell stop putting traders into short positions.  The market held the 897 area and reversed to the upside.  It is recommended to exit short positions immediately to cut losses.  The market is trading at 899.50 at this time.

Bulletin - Originally sent 7/31/02 (11:12 am est)

The sell-off hit the sell stop at 891 where short positions were taken.  The 888.70 - 889 area is showing support which stimulated some rallies. 

 It is recommended for traders to exit the short position near 892 and cut loses.  The market has the potential to trade and close at the 898 monthly neutral area. 

Bulletin - Originally sent 7/31/02 (3:55 pm est)

The rally brought prices up to 909.50 on the big S & P and did not exercise the buy stop at 910.  Traders using the buy stop for the E-mini should not be long at this time. 

The 910 buy stop is now considered cancelled because of the chart formation and the time of the day.  The 914 - 917 will remain the sell area until the end of the day.

Results:    7/31/02

Bought @ 901        Sold @ 897             = -  $1,000.00        
Sold @ 897            Bought @ 899.50     = -  $   625.00     (bought as per bulletin)
Sold @ 891            Bought @ 892         = -  $   250.00  
TOTAL (P & L)                                         -  $1,875.00
 
     thetechguru.com
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 08-01-02 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of 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. 
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: 
911.50 newly developed GBX channel also 911.50 day top (major area) / 914 intra-day peak and 914 GBX minor channel also 915.90 GBX top and 917.30 weekly closing price (very major area) / 918.80 GBX top and 920.50 intra-day peak (major area) / 929.50 weekly top and 932 major day channel (very major area) / 936 day top (major) / 940.90 GBX top (major) / 945 major day channel and 945 weekly channel (very major area) / 953.50 peak also 954 day session closing price (very major area) / 958 day top and 961.10 GBX top (major area).
 
Support: 
907.50 base (significant) / 906 minor intra-day channel also 904.50 base (major area) / 902 rev. peak also 900.50 rev. peak and 899 minor day channel (major area) / 893.50 minor day channel also 893.70 day session closing price (very major area) / 890 base and 888.70 day bottom (major area) / 884 base and 883.50 day bottom (very major area) / 877.70 base (major) / 869.50 day session bottom (very major area) / 856 rev. double peak and 853.70 weekly close (very major area)
 
Comments             
    The market closed on Wednesday in neutral to bullish territory but continues to face very major resistance at the 914 - 917.30 area and again at 929.50 and 932, which can still put a lid on any further rallies for a while.  As mentioned yesterday, the overbought conditions can add to the possibility of a retracement from this area.  A trade above 914 - 917.30 area can bring prices up near the 929.50 - 932 area but only a trade above 945 can confirm a breakout for higher prices and can rev. the major trend to the upside.  A trade below 899 - 897 area is slightly bearish but a trade below 883.50 - 877.70 area can bring prices down to the 869.50 - 856 gap area and meet the 50% retracement for this first rally leg.  Remain very defensive inside this 911.50 - 899 tight neutral area.          
                    
Day trades:  For the September contract -
 
Aggressive traders can buy dips near 902 - 899 area and sell rallies near 907 - 910 area, whichever side comes first, to complete the trade.  (Use a sell stop and rev. short at 892).  (Conservative traders can use a protective sell stop at 896.  Do not rev. short).  (Use a buy stop and rev. long at 922).  (Conservative traders can use a protective buy stop at 912.20.  Do not rev. long).
 
Aggressive traders can attempt short positions near 914 - 917 area for obj. near 908 - 905 area.  (Use a buy stop and rev. long at 922).
 
Buy stop at 922 for obj. near 927 - 929 area and possibly near 932.
 
Sell stop at 892 for obj. near 887 - 884 area.
Sell stop at 874.50 for obj. near 870.50 - 869.50 bottom area.
Sell stop at 866 for obj. near 861 - 858 area and possibly near 856.
 

* 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 8/01/02 (10:56 am est) 

The sell stop at 892 was hit putting traders into a short position.  The double bottom chart formation that formed at 891.10 - 891.50 could be supportive enough to stimulate rallies, but only a trade above 897 can bring further rallies.  Traders holding short positions can now use a protective buy stop at 900. 

Results:    8/01/02

Sold @ 907            Bought @ 900.50     = + $1,625.00        
Sold @ 892            Bought @ 887         = +  $1,250.00     
TOTAL (P & L)                                         +  $2,875.00
 
     thetechguru.com
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 08-02-02 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of 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. 
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: 
885.30, 886 and 886.50 peaks also 888.30 intra-day gap (major area) / 891.50 intra day channel (major) / 895.50, 896 and 896.50 and 897 intra-day peaks (major) / 899 reverse channel (major) / 902 peak (significant) / 904 major day channel and 907 major GBX channel (very major area) / 909 day top to 911.50 day gap also 911.20 GBX top and 912 GBX minor channel (very major area) / 915.90 GBX top and 917.30 weekly choosing price (major area) / 918.80 GBX top and 920.50 peak (major area) / 928.50 major day channel and 929.50 weekly top (very major area).
 
Support: 
883.50 minor day channel and 883 minor intra-day channel (major area) / 882 base and 881.50 intra-day channel also 880.80 base and 880 day bottom (major area) / 877.70 intra-day base (very major area) / 871 minor down channel and 869.50 day bottom (major area) / 856 rev. double peak and 853.70 weekly close (very major area) / 844 weekly closing price and also 844 reflects the 50% retracement area (major) / 837.50 base and 835 day bottom (very major area).
 
Comments       
     The sell-off on Thursday from the resistance and overbought condition did materialize as expected and proved the significance of the area.  A trade below the 877.70 area is bearish and can bring prices down to test the 856 - 853.70 gap area and the 50% retracement at 844.  If the market trades below 835 it can trigger enough bearishness that can bring prices down near the 812 - 804.50 area and can possibly test the 773 area to create a major double bottom, which is still not out of the picture at this time.  A trade above 907 and 912 areas can possibly stimulate rallies to bring prices up to challenge the 929.50 weekly top.  As mentioned in the last two reports only a trade about 945 can prove a breakout and possibly reverse the major trend to the upside, which is also not out of the picture at this time either.  The market remains in neutral to slightly bearish condition and can still swing in either direction.  Remain defensive inside the 907- 877.70 neutral area.
                              
Day trades:  For the September contract -
 
Aggressive traders can sell rallies