Archived S & P's

To subscribe to the S & P day trade recommendations click here:

ORDER NOW!

If you have any questions, please e-mail them to: support@thetechguru.com

or call (540) 843-GURU (4878)

The week in review - 8/12/02 - 8/16/02

The Tech Guru's S & P Day Trading Recommendations

thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Monday 08-12-02 : 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:

908.50 intra-day channel and 909 peak (significant) / 910 weekly channel also 910 peak and 911.50 day channel (very major area) / 912.50 intra-day channel also 913 intra-day gap and 913.50 peak and minor channel also 914.50 day top (very major area) / 917.30 weekly closing price (major) / 920.60 monthly channel and 922.50 major weekly channel (very major area) / 929.50 weekly top (very major area) / 934.30 peak and 936 day top (major) / 940.90 GBX top and 944.30 intra-day peak (major area) / 953.50 peak also 953.50 minor day channel and 954 day session close (very major area).

Support:

907.50 intra-day channel and 906 base (significant) / 904.50 minor day channel and 904 base (major area) / 898.50 base also 897 rev. peak and 896 base (major area) / 891.50 base and 890 day bottom also 888 minor day channel (very major area) / 885.50 intra-day channel also 884.60 and 883 base area (major area) / 875 base and 873.80 day bottom also 873.50 minor day channel (major area) / 868.50 major day channel without GBX prices (very major) / 854.50 base and 853.80 day bottom also 853.50 major day channel with GBX prices (very major area).

Comments

The whiplashing action on Friday proves the significance of both the support and resistance at this very critical area. The market closed at its highest settling price for the week, which is bullish but continues to face the 920.60 and 922.50 major resistance. This leaves the chart neutral to bullish but the significance of the resistance can hold back rallies and stimulate some retracements down to the support areas again. A trade above the 920.60 and 922.50 area will be considered a breakout for higher prices. A trade above 929.50 and 936 can bring the possibility of a new major uptrend in play. A trade below 888 and 883 will be slightly bearish but a trade below 873.50 and 868.50 area can bring prices down to challenge the 853.80 bottom and 853.50 channel. A trade below 853.50 will put the chart in bearish condition but a trade below 836.50 - 839.50 area will fail the very major support area that could possible bring prices down to challenge the contract low again. Remain very defensive in this critical resistance area. It is still possible for prices to swing either way.

Day trades: For the September contract -

Aggressive traders can sell rallies near 917 - 920.60 area, and if possible near 922.50 for obj. near 911 - 909 area and possibly near 905. (Use a protective buy stop at 925.50. Do not rev. long).

Aggressive traders can buy dips near 892 - 890 area and if possible near 888 for obj. near 898 and possibly near 904. (Use a sell stop and rev. short at 880). (Conservative traders can use a protective sell stop at 886.50. Do not rev. short).

Buy stop at 914.80 for obj. near 917 - 920.60 area.

Buy stop at 937 for obj. near 940 and possibly near 944.

Sell stop at 880 for obj. near 876 - 875.50 area and possibly near 873.50.

Aggressive traders can attempt long positions near 873.50 and if possibly near 868.50 area for obj. near 880 - 885 area. (Use a sell stop and rev. short at 865).

Sell stop at 865 for obj. near 860 - 857 area and possibly near 855.

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

Results:    8/12/02

Bought @ 892              Sold @ 898     = + $1,500.00

TOTAL (P & L)                                     + $1,500.00

thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Tuesday 08-13-02 : 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.

Resistance:

903 newly developed minor channel (major) / 907.50 intra-day channel and 908 day channel also 908.50 day top and 910 weekly channel (very major area) / 913 minor day channel also 914.50 weekly top and 915.90 GBX top (very major area) / 917.30 weekly closing price (major) / 920 major day channel and 920.60 monthly channel also 922.50 major weekly channel (very major area) / 929.50 weekly top (very major area) / 934.30 peak and 936 day top (major) / 940.90 GBX top and 944.30 intra-day peak (major area) / 951.50 minor day channel also 953.50 peak and 954 day session close (very major area).

Support:

901.50 intra-day channel and 901 base (major area) / 899 base and 896 intra-day channel (major) / 895, 894.50 and 894 base areas also 893.50 minor day channel (very major area) / 891.50 and 890 bottoms (major area) / 880 minor day channel (major) / 876 major day channel also 873.80 bottom and day session close (very major area) / 865 weekly closing price also 863 intra-day channel and 859.50 major day channel with GBX prices and 860 weekly channel (very major area) / 853.80 day bottom (major).

Comments

Monday's trading session remained inside a narrow trading range proving again the significance of the support and resistance at this very critical area. A trade above the 908, 910 and 913 areas can challenge the 920 - 920.60 major resistance. A trade above 920.60 - 922.50 area will be considered a breakout for higher prices. A trade above the 929.50 weekly top can possibly reverse the major trend to the upside. A trade below 893.50 - 890 area today is slightly bearish but a trade below 880 - 876 area can bring prices down to challenge the 863 - 859.50 major support area. A trade below the 859.50 and 853.80 area will fail the major supports and can bring prices down to challenge the 812 - 804.50 area and possibly near the 773 bottom area again. Remain very defensive inside this critically neutral area between 910 and 890 area.

Day trades: For the September contract -

Aggressive traders can buy dips near 896 - 893.50 area for obj. near 899 - 901 area. (Use a sell stop and rev. short at 887).

Aggressive traders can sell rallies near 908 - 910 area and if possible near 913 for obj. near 903.50 - 901 area. (Use a buy stop and rev. long at 925.50). (Conservative traders can use a protective buy stop at 915.50. Do not rev. long).

Aggressive traders can sell rallies near 917 - 920 area and if possible near 922 for obj. near 911.50 and possibly near 910. (Use a buy stop and rev. long at 925.50).

Sell stop at 887 for obj. near 882.50 - 880 area and possibly near 877.

Sell stop at 872 for obj. near 865.50 - 863 area and possibly near 859.50.

Buy stop at 925.50 for obj. near 927.50 - 929.50 area.

Buy stop at 937.50 for obj. near 940 and possibly near 944.

Bulletin - For New Subscribers - Originally sent 8/13/02 (9:58 am est)

The sell-off down to the 896.70 and back up to 899 on the opening of the day session came close to completing the first trade. When the market sold off again to the 896.50 area, this proved to be a double bottom support for the buy on the first trade. The rally up to the 900 level completed the trade. It is now considered a high risk to repeat this trade again. Conservative traders should look to the other trade recommendations listed for possible profitable trades.

Bulletin - Originally sent 8/13/02 (1:26 pm est)

The market reached the sell area between 908 and 910 and if possible near 913, where short positions were taken. The market has been struggling to reach the obj. at 903.50. It is recommended for traders to exit at 907 - 906.50 and take profits. The market is too neutral at this time to point any solid direction.

Bulletin - Originally sent 8/13/02 (3:52 pm est)

The market sold-off to the 887 sell stop putting traders into short positions. Since this is another very critical support area, it is recommended to take profits as soon as possible. The market is trading at 885.25 at this time, which can be considered a good time to exit for profits.

Results: 8/13/02

Bought @ 896.80        Sold @ 900              = + $   875.00

Sold @ 909                Bought @ 906.70      = + $   575.00     (bought as per bulletin)

Sold @ 887                Bought @ 885           = + $ 500.00

TOTAL (P & L)                                               + $1,950.00

    thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Wednesday 08-14-02 : 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.

Resistance:

888 and 888.50 peaks also 889.50 intra-day channel (major area) / 893.50 peak (major) / 902 and 903 peaks (major area) / 909.50 newly developed major day channel (very major) / 912 day top and 912 minor day channel and 912.50 weekly channel (very major area) / 914.50 day top and 915.90 GBX top (major area) / 917.30 weekly close (major) / 920.60 monthly channel and 922.50 major weekly channel (very major area) / 929.50 weekly top (very major area).

Support:

882.50 major day channel without GBX prices also 882 day bottom and 880 rev. peak (very major area) / 876 day session closing price and 873.80 day bottom (major area) / 865.50 major day channel including GBX prices also 865 weekly closing price (very major area) / 861 day session closing price and 860 weekly channel without GBX prices (very major area) / 853.80 day bottom also 852 weekly channel including GBX prices (very major area) / 847 day bottom (major) / 841 minor channel (major).

Comments

The sell-off on Tuesday from the major resistance proves the significance of the area. The sell-off brought prices down to the critical support areas that could stimulate some buying. A trade above 889.50 and 893.50 is slightly bullish but only a trade above 909 - 912.50 area can be bullish enough to challenge the 922.50 area and 929.50 area, which can possibly change the major trend to the upside. A trade below 880 is slightly bearish but a trade below 865 can challenge the 852 channel support, which can possibly prove to be a good buying area. A trade below 852 - 847 area will fail the major support and can bring prices down to challenge the 812 - 804.50 area and possibly near the 773 bottom area again. Remain neutral until a breakout is seen to either side of the wide 912 - 852 trading range.

Day trades: For the September contract -

Aggressive traders can sell rallies near 887.50 - 889.50 area for obj. near 883.50 - 882 area and possibly near 880. (Use a protective buy stop at 893.70. Do not rev. long).

Aggressive traders can buy dips near 883.50 - 882 area and if possible near 880 for obj. near 886.50 - 888 area. (Use a sell stop and rev. short at 878.50).

Aggressive traders can sell rallies near 905 - 909 area and if possible near 912 for obj. near 897 - 895 area and possibly near 893. (Use a buy stop and rev. long at 915).

Aggressive traders can buy dips near 868 - 865 area for obj. near 872 - 874 area and possibly near 876. (Use a protective sell stop at 862. Do not rev. short).

Buy stop at 915 for obj. near 917 - 920 area and possibly near 922.

Buy stop at 925 for obj. near 927.50 - 929.50 area.

Sell stop at 878.50 for obj. near 876 - 874 area.

Sell stop at 871.80 for obj. near 868 - 865 area.

Sell stop at 858 for obj. near 854 - 852 area.

Aggressive traders can attempt long positions near 854 - 852 area for obj. near 863 - 865 and possibly near 870. (Use a protective sell stop at 845. Do not rev. short).

Bulletin - Originally sent 8/14/02 (9:49 am est)

The double top at 886 completes the second trade where long positions were taken at 883.50.

Bulletin - Originally sent 8/14/02 (3:28 pm est)

The rally up to 916.50 completes the long position trade with the buy stop at 915.

Very aggressive traders can attempt short positions at this high end of the major resistance area and use a buy stop and rev. long at 925 as listed in today's report. The market is trading at 915 at this time where short positions to be considered.

Bulletin - Originally sent 8/14/02 (3:53 pm est)

The rally up to the 920.50 area is the major resistance on the monthly chart and is considered a sell area for position traders to consider short positions. Position traders can use a protective buy stop at 934 in both the overnight session and day session. The objective is for retracements down to the 880 - 865 area and possibly near the 852 area.

Results:    8/14/02

Sold @ 887.50            Bought @ 883.50      = + $1,000.00

Bought @ 883.50        Sold @ 886               = + $  625.00

Sold @ 878.50            Bought @ 876           = + $ 625.00

Sold @ 909                Bought @ 915           = - $1,500.00

Bought @ 915            Sold @ 916.50           = + $ 375.00

Sold @ 915                Bought @ 918           = -   $ 750.00     (as per bulletin)

TOTAL (P & L)                                                + $ 375.00

As per bulletin - long-term position traders sold @ 920.50 today (8/14/02)

    thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Thursday 08-15-02 : 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:

923 day channel (major) / 924.50 minor upper channel (major ) / 926.90 day session close from 7/11/02 also 929.50 weekly top (very major area) / 934.30 peak and 936 day top (major area) / 940.90 GBX top and 944.30 peak (major area) / 948.50 minor day channel and 953.50 peak also 954 day session close (very major area) / 958 day top and 961.10 GBX top also 961.50 minor day channel (very major area).

Support:

913.50 base and 912 rev. peak (major area) / 907.80 weekly closing price (major area) / 902.50 day session close and intra-day base also 899.50 intra-day gap (major area) / 895.60 base (major area) / 890 intra-day gap and 889 base (major area) / 883.50 newly developed day channel (very major area) / 875.50 bottom and 872 major day channel including GBX prices (very major area) / 865 weekly closing price (major) / 860 weekly channel (very major area).

Comments

    The rally on Wednesday from the support area brought prices up to the very major resistance on the monthly chart. Even with the strength shown on Wednesday's rally, the monthly channel resistance and the 929.50 weekly top can prove to be solid enough to stimulate selling pressure for retracements back down to the 883.50 and 872 major support areas again. A trade above 929.50 will be considered a breakout and can possibly prove to be the first signal for the new major uptrend. A trade today below 902.50 is slightly bearish but a trade below 895.60 can prove to bring prices down near the 883.50 - 872 support areas again. A trade below 860 will fail the major support for prices to challenge the 812 - 804.50 area and possibly near the 773 bottom. Remain very defensive at this critical resistance area. It can prove to be a major signal either way.



Day trades: For the September contract -

Aggressive traders can sell rallies near 923 - 924.50 area and if possible near 926.90 for obj. near 914 and possibly 912.50. (Use a buy stop and rev. long at 932.50).

Aggressive traders can attempt long positions near 885 - 883.50 area, if it gets there, for obj. near 891 - 894 area. (Use a protective sell stop at 879. Do not rev. short).

Aggressive traders can attempt long positions near 874 - 872 area for obj. near 882 - 885 area and possibly near 888. (Use a sell stop and rev. short at 869).

Buy stop at 932.50 for obj. near 934 and possibly near 936.

Buy stop at 945.50 for obj. near 950 - 953 area and possibly near 956.

Sell stop at 911 for obj. near 908.

Sell stop at 906.50 for obj. near 903.50 - 902.50 area and possibly near 899.50 gap.

Sell stop at 892.50 for obj. near 890 - 889 area.

Sell stop at 887 for obj. near 885 - 883.50 area.

Long-term position traders can hold short positions taken for obj. near 885 - 883.50 area and possibly near 872. Continue to use a protective buy stop at 832.50.

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

Bulletin - Originally sent 8/15/02 (11:06 am est)

The 932.50 buy stop was completed with the trade at 933.50. Traders still remaining with a long position should exit at the market. At this time only a trade above 936 can bring higher prices.

Bulletin - Originally sent 8/15/02 (12:39 pm est)

The market is showing signs of resistance after the sell-off from the 934.50 area. The technical chart formation is also forming a top pattern that could stimulate selling pressure.
It is recommended for traders to sell near 927 for obj. near 915 - 913.50 area and possibly near 912. (use a protective buy stop at 937. Do not rev. long).

Bulletin - Originally sent 8/15/02 (2:57 pm est)

After the short position was taken at 927 the market proceeded to go down but did not meet the obj. at 915 and held a double bottom at 919.50. The rally thereafter reached a high of 931. The market is now trading in neutral condition. A trade above 931 will put the chart in slightly bullish condition. Conservative traders can exit with a protective buy stop at 931.50. Aggressive traders continue to use the protective buy stop at 937. A sell-off at this time can still bring prices into new lows for the day where short positions should consider taking profits.

Bulletin - Originally sent 8/15/02 (3:34 pm est)

Conservative traders took profits on the sell-off down to 921. The market is trading in neutral territory at 926 - 927 area again. Conservative traders still holding short positions can exit near 927 and scratch the trade.
Results:    8/15/02

Sold @ 923               Bought @ 932.50       = - $2,375.00

Bought @ 932.50       Sold @ 933.50          = + $   250.00

Sold @ 927               Bought @ 921.50       = + $1,375.00     (as per bulletin)

TOTAL (P & L)                                               - $   750.00

    thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Friday 08-16-02 : 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:

932.50 newly developed day channel (major) / 935 top and 936 day top from 7/12/02 (very major area) / 940.90 GBX top (major) / 944.30 peak and 946.50 minor day channel (major area) / 953.50 peak and 954 day session close (very major area) / 958 day top and 959.50 minor day channel also 961.10 GBX top (major area) / 967 minor weekly channel (very major area) / 978.30 day session close and 980.50 day top also 981.70 GBX top (major area) / 990.10 monthly close and 991 weekly close (very major area) / 993.80 day top also 995.80 monthly top and 996 GBX monthly top (very major area).

Support:

928.50 base and 928 intra-day channel (major) / 922 and 921 base area also 921 rev. peak (very major area) / 919.50 base and 917.50 bottom (major area) / 915.90 rev. GBX peak and 915.60 GBX bottom also 914.50 and 912 rev. peak (very major area) / 907.80 weekly closing price (major) / 902.50 day session closing price and 902.50 base (major area) / 891 day channel and 889 base (very major) / 885 day session close and 884.50 minor day channel (major area) / 877.50 major day channel and 875.50 bottom (very major area).

Comments

    The follow-through rally and close on Thursday broke through the major resistances on both the monthly and weekly charts putting it in bullish territory. The overbought conditions can stimulate some retracements into lower prices but can be considered a buying opportunity. A trade today below 991 - 989 area is bearish but only a trade below 877.50 - 875.50 area will fail the major support and can stimulate enough selling pressure to bring prices down near 828.50 - 812 area and possibly lower. A trade today above 932.50 - 936 area is bullish and a trade above 940.90 GBX top will confirm higher prices to follow. Remain defensive inside this narrow neutral area between 932.50 and 921 area.



Day trades: For the September contract -

Aggressive traders can buy dips near 923.50 - 921 for obj. near 927 - 928.50 area and possibly near 932. (Use a sell stop and rev. short at 919).

Very aggressive traders can attempt short positions near 932 area for obj. near 928 and possibly near 926. (Use a buy stop and rev. long at 937).

Sell stop at 919 for obj. near 917 - 916 area and possibly near 914.50.

Sell stop at 911 for obj. near 908.50 - 907.50 area.

Sell stop at 905.50 for obj. near 902.50 and possibly near 900.

Aggressive traders can buy dips near 902.50 - 900 area if it gets there for obj. near 908 - 912 area. (Use a protective sell stop at 897. Do not rev. short).

Buy stop at 937 for obj. near 940 and possibly near 943.

Buy stop at 945.50 for obj. near 950 - 953 area and possibly near 954 - 956 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 8/16/02 (11:43 am est)

The market reached the very aggressive trade sell at 932 where short positions were taken. The market managed to reach a high of 935.90. At this time the support is now at 931.50 so it is recommended for all short positions to exit near 932 and scratch the trade.
Results:    8/16/02

Bought @ 922            Sold @ 919       = - $   750.00

Sold @ 919                Bought @ 916     = + $   750.00

Sold @ 932                Bought @ 932     = $      -0-

TOTAL (P & L)                                            $      -0-

The week in review - 8/19/02 - 8/23/02

The Tech Guru's S & P Day Trading Recommendations

   thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Monday 08-19-02 : 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:

933.50 newly developed day channel and 934 minor channel (very major area) / 936 double top (very major area) / 940.90 GBX top (major) / 944.30 peak and 945 minor day channel (major area) / 953.50 peak and 954 day session close (very major area) / 956.50 long-term minor day channel and 958 day top also 959 minor day channel (major area) / 961.10 GBX top and 962.50 minor weekly channel (very major area) / 978.30 day session close and 980.50 day top also 981.70 GBX top (major area).

Support:

926.50 and 926 base area (major area) / 921.50 rev. peak and 921.30 base also 920.50 weekly channel (very major area) / 915.50 day bottom and 915.60 GBX bottom (major double bottom area) / 912 rev. peak and 911.50 monthly close (major area) / 907.80 weekly close (major) / 902.50 day session close also 899 day channel with GBX prices (very major area) / 894 day channel (very major area) / 889 minor day channel (major) / 883.50 major day channel (very major area) / 875.50 weekly bottom (very major area).

Comments

    The market managed to close up for the fourth week in a row and also above the weekly channel leaving the chart in bullish territory. The trading range on Monday remains neutral between 933.50 and 920.50. A trade above 933.50 and 936 will be considered a breakout for higher prices. A trade above 962.50 will confirm the uptrend intact for prices to challenge the 1000 area again. The 1000 area is the very major resistance at this time and can possibly stimulate some substantial retracements from that area. A trade below 920.50 and 915.50 areas is slightly bearish and can possibly bring prices down near the 899 and 894 area, which can be considered support and a good buying opportunity if it gets there. Only a trade below 883.50 and 875.50 areas can fail the major support for prices to drop down to challenge the 828.50 and 812 areas again and possibly near the 773 bottom. Remain overall bullish inside this narrow neutral range between 933.50 - 920.50 area, until the market can prove otherwise.



Day trades: For the September contract -

Aggressive traders can buy dips near 922.50 - 920.50 area for obj. near 928 and possibly near 931 - 933.50 area. (Use a sell stop and rev. short at 918.50).

Very aggressive traders can attempt short positions near 932.50 - 933.50 area for obj. near 924 - 922 and possibly near 920.50. (Use a buy stop and rev. long at 938).

Aggressive traders and positions traders can attempt long positions near 902.50 - 899 area, if it gets there. The obj. for day traders is to exit near 907 - 910 area and possibly near 911. (Use a protective sell stop at 896. Do not rev. short). Position traders can hold long positions for obj. near 962 and possibly 982 area. (Use a protective sell stop at 970).

Buy stop at 938 for obj. near 940.50 - 944 area.

Buy stop at 945.50 for obj. near 950 - 953 area and possibly near 955.

Sell stop at 918.50 for obj. near 915.50 and possibly near 914.50 area.

Sell stop at 910.50 for obj. near 907.50 - 906.50 area and possibly near 905.

* 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 8/19/02 (12:23 pm est)

The rally hit the buy stop at 945 putting traders into long positions. The chart formation at this time seems top heavy and does not look like it has the potential to reach the objective of 950 - 953 area.

It is recommended for traders to exit the long position at the market and cut looses. The market is trading at 944 at this time.
Results:    8/19/02

Sold @ 933                Bought @ 938              = - $1,250.00     (very aggressive trade)

Bought @ 938            Sold @ 941                  = + $   750.00

Bought @ 945.50       Sold @ 943.50             = - $   750.00

TOTAL (P & L)                                                  - $1,250.00

    thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Tuesday 08-20-02 : 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:

950 newly developed day channel and 951 minor channel (major area) / 952.30 top and 953.50 intra-day peak also 954 minor day channel and 954 day session close (very major area) / 958 day top and minor channel also 961.10 GBX top (very major area) / 962.50 minor weekly channel (very major) / 978.30 day session close and 980.50 day top also 981.70 GBX top (major area) / 990.10 monthly close and 991 weekly close also 993.80 weekly top (very major area) / 995.80 monthly top and 996 GBX monthly top (very major area) / 1000 major channel also 1002 major day channel (very major area).

Support:

947 intra-day channel and gap (major) / 944.50 base and 944 day channel also 943.50 day gap and 943.10 base (major area) / 941.50 - 941 base (major area) / 940 day channel and 938.50 channel with GBX prices (very major area) / 936.50 base and 936 rev. peak (major area) / 927.20 bottom and 927 minor channel (very major area) / 921.50 GBX bottom and 921.50 rev. peak also 920.50 weekly channel (very major area) / 915.50 day bottom and 914.50 rev. peak (major area) / 907.80 weekly close and 907 day channel (very major area) / 900 day channel (very major area).

Comments

    The rally and close on Monday keeps the chart in bullish territory but faces major resistance at 962.50 on the weekly chart that could hold back rallies for a while. A trade above 962.50 can bring prices up near the 990 - 996 area and possibly 1000 area. The 990 - 1000 area is a very significant resistance that could stimulate a substantial retracement down if and when it gets there. A trade below 940 - 938.50 area today is slightly bearish but a trade below 920.50 can possibly bring prices down near the 907 - 900 area, which can still be considered a buying opportunity if it gets there. Remain defensive inside this 950 - 940 neutral range. The market is subject to swing to both sides before proving a direction.

Day trades: For the September contract -

Aggressive traders can buy dips near 941.50 - 940 area and if possible near 938.50 for obj. near 947 and possibly near 950. (Use a sell stop and rev. short at 934).

Very aggressive traders can sell rallies near 950 - 951 area for obj. near 945 - 943.50. (Use a buy stop and rev. long at 955).

Buy stop at 955 for obj. near 958 and possibly near 960 - 961 area.

Buy stop at 966 for obj. near 972 - 975 area and possibly near 978.

Buy stop at 984.50 for obj. near 988.50 - 990 area.

Sell stop at 934 for obj. near 930 - 927 area.

Sell stop at 924.50 for obj. near 921.50 - 920.50 area.

Very aggressive traders and positions traders can consider short positions near 995 - 1000 area, if it gets there. Day traders can exit near 987 - 984 area. (Use a protective buy stop at 1005. Do not rev. long). Positions traders can look for retracements back down near 940 - 925 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 8/20/02 (1:47 pm est)

The sell stop was hit at 934 putting traders into the short position. The market made a double bottom support at 931.50 were profits were taken to end the trade. Any trader holding short positions should consider exiting and scratching the trade. The market is trading at 934.50 at this time.
Results:    8/20/02

Bought @ 941.50        Sold @ 934               = - $1,875.00

Sold @ 934                 Bought @ 932            = + $   500.00     (as per bulletin)

TOTAL (P & L)                                                 - $1,375.00

    thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Wednesday 08-21-02 : 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:

940 newly developed day channel (significant) / 942.50 intra-day channel and 943.50 double peak also 944 peak (major area) / 945.50 day top and 947.50 day channel (major area) / 949 day gap and 949.50 GBX top also 950 minor channel and 951 long-term day channel (very major area) / 952.30 day top and 954 day session close from 6/09/02 (very major area) / 956.50 minor channel also 958 day top and 961.10 GBX top (very major area) / 962.50 minor weekly channel (very major) / 978.30 day session close and 980.50 day top also 981.70 GBX top (major area) / 990.10 monthly close and 991 weekly close also 993.80 weekly top (very major area) / 995.80 monthly top and 996 GBX monthly top (very major area) / 1000 major weekly channel and major day channel (very major area).

Support:

936.50 intra-day channel and 936 minor day channel also 935.50, 935 and 934.80 base (very major area) / 931.50 bottom (major) / 928 day session close also 927.20 day bottom and 926.80 - 926.50 base area (very major area) / 921.50 GBX bottom and 920.50 weekly channel (very major area) / 915.50 bottom and 914.50 rev. peak also 914 major day channel (very major area) / 907.80 weekly close and 906.50 day channel (major area) / 902.50 day session close (major) / 896 major day channel with GBX prices (very major area).

Comments

    The sell-off on Tuesday removed the bullishness from the market leaving the chart in neutral condition between the 950 and 935 area. A trade above 962.50 will be considered a breakout for prices to challenge the 990 - 1000 area. A trade below 914 is bearish but only a trade below 896 will fail the major support and can challenge the 878 - 875.50 bottom area and possibly lower. Remain defensive. Tuesday's sell-off action can possibly prove to be a first sign of selling pressure for a substantial retracement. NOTE: The 907 and 896 area will still be considered a good buying area if it gets there.



Day trades: For the September contract -

Aggressive traders can sell rallies near 946 - 949 area or buy dips near 938 - 934 area, whichever side comes first, to complete the trade. (Use a buy stop and rev. long at 953.80). (Use a sell stop and rev. short at 931).

Buy stop at 953.80 for obj. near 956 - 958 area and possibly near 962.50.

Buy stop at 966 for obj. near 972 - 975 area and possibly near 978.

Buy stop at 984 for obj. near 988 - 990 area.

Sell stop at 931 for obj. near 928 - 927.20 area.

Sell stop at 925 for obj. near 922.50 - 920.50 area.

Sell stop at 918.50 for obj. near 915.50 - 914.50 area.

Sell stop at 911 for obj. near 908 - 907 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 8/21/02 (10:07 am est)

The rally hit the sell area between 946 and 950 putting traders into short positions. The sell-off down to the 940.50 area is considered the first support and should be used to exit short positions and take profits.

Bulletin - Originally sent 8/21/02 (11:18 am est)

The sell stop at 931 was hit putting traders into short positions. The recovery from the 931 area brought prices up to the 934.50, which is resistance at this time. If the market can trade above 936.50 then it would bring bullishness back to the intra-day chart. Traders should look to exit short positions near 933 to cut losses or use a protective buy stop at 938, whichever comes first.

Bulletin - Originally sent 8/21/02 (11:36 am est)

The market rallied up to 938 hitting the buy stop for short positions. At this time, the chart formation seems like it can have further retracements back down to the 933 - 930 area. It is recommended for traders to sell near 936 - 937 for obj. near 933 - 930 area. (Use a protective buy stop at 942).
Results:    8/21/02

Sold @ 947.50             Bought @ 940.50       = + $1,750.00

Sold @ 931                  Bought @ 938           = - $1,750.00

Sold @ 937                  Bought @ 942           = - $1,250.00       (as per bulletin)

TOTAL (P & L)                                                 - $1,250.00

        thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Thursday 08-22-02 : 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:

955.50 minor channel (major) / 957 weekly upper channel and 958 day top (very major area) / 961.10 GBX top and 962.50 weekly channel (very major area) / 978.30 day session close (major) / 980.50 day top and 981.70 GBX top (major area) / 990.10 monthly close and 991 weekly close (very major area) / 993.80 weekly top and 995.80 monthly top also 996 GBX monthly top (very major area) / 998.50 major day channel also 1000 major weekly channel (very major area).

Support:

951 intra-day channel and 950.50 base and rev. channel (major area) / 948.50 gap and 948 base also 947.50 base and 946.50 intra-day gap (major area) / 942 newly developed day channel and 941.50 intra-day channel (major area) / 937 and 936.10 base area also 936 minor day channel (very major area) / 933 minor channel and 931 bottom (major) / 928 weekly close and 927.20 bottom (major area) / 922.50 day channel and 921.50 day bottom also 920.50 weekly channel (very major) / 916 day channel without GBX prices also 915.50 day bottom and 914.50 rev. peak (very major area) / 907.80 weekly close (major) / 902.50 day session close and 902 major day channel (very major area).

Comments

    The whiplashing action in Wednesday's session is technically found in top building formations, which can be a signal for some price retracements down. The market close near the high of the session, which can be considered bullish, but it continues to face very major resistance at the 955.50 to 962.50 area, which can stimulate selling pressure for retracements to develop. A trade above 962.50 will be considered a breakout for prices to challenge the 990 - 1000 area. A trade today below 942 is slightly bearish but a trade below 936 can bring prices down near the 922.50 - 920.50 area and possibly lower. Overall, the market remains technically bullish and a sell-off down near the 907 - 902 area can still be considered a buying opportunity. Remain defensive inside this 955.50 - 942 neutral area.



Day trades: For the September contract -

Aggressive traders can buy dips near 944 - 942 area or sell rallies near 955 - 957 area, whichever side comes first to complete the trade. (Use a buy stop and rev. long at 966). (Use a sell stop and rev. short at 929.80). (Conservative traders can use a protective sell stop at 935. Do not rev. short).

Aggressive traders can buy dips near 937 - 936 area for obj. near 944 and possibly 946 area. (Use a sell stop and rev. short at 929.80).

Buy stop at 966 for obj. near 972 - 975 area and possibly near 978.

Buy stop at 984 for obj. near 988 - 990 area.

Sell stop at 929.80 for obj. near 926 - 924 area and possibly near 922.50 area.

Sell stop at 913 for obj. near 909 - 907 area and possibly near 905.

* 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 8/22/02 (12:36 pm est)

The market rallied to the 955 - 957 area where short positions were taken. The market is proving resistance at 962 but it seems to be building a base between 953.50 and 955 area at this time. Conservative traders can exit the short position near 955 and scratch the trade. Aggressive traders can continue to hold short positions for an obj. near 948 - 946 area and possibly near 944 - 942 area. The resistance at this time is at 958.50 - 959 area. A trade above 959 will show too much strength in the chart formation for possible higher prices. It is recommended for conservative traders looking to hold short positions can use a conservative buy stop at 959.50 to protect the short position. Very aggressive traders can continue to use the buy stop and rev. long at 966.

Bulletin - Originally sent 8/22/02 (1:45 pm est)

The market just sold-off down to 951.50 where short positions can consider taking profits. The conservative trader has exited the short position at 955 and broke even. The very aggressive trader that continued to hold the short position should consider taking profits at this time. The market is trading at 952 at this time.
Results:    8/22/02

Sold @ 955             Bought @ 955       =    $     -0-        (conservative trade as per bulletin)

Sold @ 955             Bought @ 952       = + $   750.00    (very aggressive trade as per bulletin)

Bought @ 966         Sold @ 961.10      = - $1,225.00     (as per bulletin)

TOTAL (P & L)                                        - $   475.00

     thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Friday 08-23-02 : 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:

962 intra-day channel and 964 newly developed day channel (major area) / 965.50 peak and 966 day top (major area) / 975 is the 50% retracement on the weekly chart from 1177 top to the 773 bottom also 976.50 is the 50% retracement on the daily chart (very major area) / 978.30 day session close (major) / 980.50 day top and 981.70 GBX top (major area) / 990.10 monthly close and 991 weekly close also 993.80 weekly top (very major area) / 995.80 monthly top and 996 GBX monthly top also 997 major day channel (very major area) / 1000 major weekly channel and 1002 major monthly channel (very major area).

Support:

960 newly developed minor day channel (major) / 958 intra-day channel also 956.30 and 956 base area (major area) / 953 day channel (major) / 946 day bottom (major) / 941 minor day channel (very major) / 935 minor channel (major) / 931 day bottom and 930 day channel (very major area) / 928 weekly close and 927.20 day bottom (major area) / 922.50 day channel without GBX prices and 921.50 GBX bottom also 920.50 weekly channel (very major area) / 915.50 day bottom and 914.50 rev. peak (major area) / 907.80 weekly close and 907.50 day channel (very major area).

Comments

    The rally on Thursday broke through the 962.50 weekly resistance but failed to follow through. The market managed to closed up for the second day keeping the chart in bullish territory but is now facing the 975 - 976.50 area, which is the 50% retracement from the 1177 - 1180 double top area to the 773 bottom. This 50% retracement area is considered neutral on the long-term chart, which can swing prices 20 to 40 points to both sides before proving a solid direction. Traders should prepare for volatile whiplash swings, which can bring profitable trades when following support and resistance areas. A trade today above 966 can bring prices up to the 975 - 976.50 area and possibly higher. A trade below 953 is slightly bearish but a trade below 941 can challenge the 930 and 920.50 supports. Remain defensive inside the 962 - 953 neutral area.



Day trades: For the September contract -

Aggressive traders can buy dips near 956 - 953 area for obj. near 960 - 962. (Use a sell stop and rev. short at 950).

Sell stop at 950 for obj. near 946 - 945 and possibly near 942.

Sell stop at 939 for obj. near 936 - 935 area and possibly near 932.

Sell stop at 926 for obj. near 923 and possibly near 920.50 area.

Buy stop at 969 for obj. near 973 - 975 area and possibly near 976.50.

Buy stop at 984 for obj. near 988 - 990 area.

Aggressive traders and position traders can attempt short positions near 988 - 990 and if possible near 997, if it gets there. Day traders can exit for obj. near 981 - 978 area. Position traders can look to hold overnight for obj. retracement near 950 - 930 area. (All traders can use a protective buy stop at 1005. Do not rev. long).

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

Bulletin - Originally sent 8/23/02 (10:58 am est)

The market sold-off hitting the sell stop at 950 putting traders into short positions. The sell-off continued down to 946.50 which meets the obj. and completes the trade. Any traders still holding short positions should look to exit near 950 and scratch the trade.

Bulletin - Originally sent 8/23/02 (12:22 pm est)

The market has been developing support and a base formation at the 945 area that can be a signal for a possible rally.
Aggressive traders can attempt long positions near the 947 - 945 area and if possible near 942 for obj. near 952 - 955 area and possibly near 958. (Use a sell stop and rev. short at 939).

Bulletin - Originally sent 8/23/02 (2:06 pm est)

The sell-off brought prices down where long positions were taken at 945 and 942. The market is showing resistance at 948 at this time. It is recommended for traders to exit long positions near the 946 area and take profits.

Bulletin - Originally sent 8/23/02 (3:26 pm est)

The market hit the sell stop at 939 putting traders into short positions. The action at this level seems too supportive at this time for the obj. of 936 - 935 to be reached. It is recommended to exit the short position at the market and cut losses

Results:    8/23/02

Bought @ 954.50     Sold @ 950             = - $1,125.00

Sold @ 950             Bought @ 946.50     = + $   875.00

Bought @ 944         Sold @ 946.50         = + $   625.00   (as per bulletin)

Bought @ 942.50     Sold @ 946.50        = + $1,000.00   (as per bulletin)

Sold @ 939             Bought @ 939         = - $    -0-        (as per bulletin)

TOTAL (P & L)                                           + $1,375.00

The week in review - 8/26/02 - 8/30/02

The Tech Guru's S & P Day Trading Recommendations

thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Monday 08-26-02 : 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:

943 peak and 944 intra-day channel (major area) / 948 day channel without GBX prices also 948.50, 949 and 951.20 peaks (major area) / 954 newly developed weekly channel (very major) / 956.50 day top and 959 channel with GBX prices (major area) / 961 day session close and gap also 961 minor weekly channel and 961.50 major day channel also 962.50 GBX top (very major area) / 966 weekly top (major) / 975 and 976.50 is the 50% retracement on the weekly and daily chart from the 1177 top to the 773 bottom (very major area) / 978.30 day session close and 980.50 day top also 981.70 GBX top (major area) / 990.10 monthly close and 991 weekly close also 991 weekly channel and 993.80 weekly top (very major area).

Support:

940.50 newly developed minor channel and 939.40 base (major area) / 938 day channel with GBX prices also 937 minor day channel and 936.50 day bottom (very major area) / 931 bottom and 930 channel without GBX prices also 928 weekly close and 927.20 weekly bottom also 927 day channel (very major area) / 921.50 GBX weekly bottom (major) / 915.50 day bottom and 914.50 rev. peak also 913.50 major day channel (very major area) / 909 minor channel also 907.80 weekly close and 907.50 weekly channel (very major area) / 902.50 day session close and 899 intra-day gap area (major) / 885 day session close (major) / 881 base and 875.50 day bottom (very major area).

Comments

    The sell-off on Friday brought prices down below the 941 support area, which is bearish, but managed to close higher for the end of this week then the previous, leaving the chart neutral and defensive. A trade above 954 can bring the bullishness back to the chart but a trade above 961 and 966 area will confirm higher prices to follow. A trade below 938.50 - 936.50 area is bearish but a trade below 930 - 927 area can stimulate enough selling pressure to bring prices down near the 915.50 - 909 area again. NOTE: The 909 area is a major support area on the weekly chart. A retracement down near this area will be considered a buying area. A trade below 907.80 - 902.50 area will fail the major support and can reverse the trend down for much lower prices. Remain defensive inside the 954 - 930 neutral area.



Day trades: For the September contract -

Aggressive traders can sell rallies near 947 - 948 area for obj. near 944 - 943 area. (Use a protective buy stop at 956.70. Do not rev. long). 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 953 - 954 area and if possible near 956 for obj. near 949 - 947 area. (Use a protective buy stop at 956.70. Do not rev. long).

Aggressive traders can sell rallies near 959 - 961 area for obj. near 956 - 955 area. (Use a buy stop and rev. long at 969). (Conservative traders can use a protective buy stop at 964. Do not rev. long).

Aggressive traders can buy dips near 940.50 - 938.50 area for obj. near 943 - 944 area and possibly near 946. (Use a sell stop and rev. short at 935).

Aggressive traders can buy dips near 930.50 and if possible near 927 for obj. near 934 - 936 area. (Use a sell stop and rev. short at 924).

Buy stop at 969 for obj. near 973 - 975 area and possibly near 978.

Sell stop at 935 for obj. near 930.50 and possibly near 927.

Sell stop at 924 for obj. near 920 - 918 area and possibly near 916.

Aggressive traders and position traders can buy dips near 910 - 909 area, if it gets there. Day traders can use obj. to exit near 916 - 918 area. Position traders can hold overnight for obj. near 940 - 950 area and possibly higher. (All traders can use a protective sell stop at 899. 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 - Originally sent 8/26/02 (10:56 am est)

The sell-stop was hit at 935, putting traders into short positions. The market sold off down to 931.30, which completes the trade.

Bulletin - Originally sent 8/26/02 (11:13 am est)

The long positions that were taken at the 931.30 area from the previous bulletin is now complete at 934.

Bulletin - Originally sent 8/26/02 (3:54 pm est)

The double top at 951.30 proved to be resistance where short positions were taken. the sell-off to the 949 - 948.50 area completes the trade.
Position traders can hold short positions overnight because the 951.30 - 954 area is such an important resistance that it can stimulate selling for prices to trade down near the 909 area some time this week where profits will be taken. (Use a protective buy stop at 957. Do not rev. long).
Results:    8/26/02

Sold @ 946.50         Bought @ 943.50     = + $   750.00

Bought @ 940.50     Sold @ 935              = - $1,375.00

Sold @ 935             Bought @ 931.50      = + $   875.00

Bought @ 931.50     Sold @ 934              = + $   625.00

Sold @ 951             Bought @ 948.50      = + $   625.00

TOTAL (P & L)                                            + $1,500.00

        thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Tuesday 08-27-02 : 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:

950.50 intra-day channel and 951.30 day top (major area) / 954 weekly channel (very major) / 956 minor channel with GBX prices and 956.50 (major area) / 959.50 day channel and 961 day gap also 961 minor weekly channel and 962.50 GBX top (very major area) / 964 peak also 966 weekly top (major area) / 975 and 976.50 is the 50% retracement on the weekly and daily chart from the 1177 top to the 773 bottom (very major area) / 978.30 day session close and 980.50 day top also 981.70 GBX top (major area) / 990.10 monthly close and 991 weekly close also 991 weekly channel and 993.80 weekly top and 994 major day channel (very major area) / 996 GBX weekly top (major).

Support:

946.50 intra-day channel and 946.10 rev. channel also 946 and 945.70 base area (major area) / 941.80 intra-day gap and 940.80 base (major area) / 937 day channel (very major area) / 933 day channel and 932.50 minor day channel (major area) / 931 minor channel and 930 day bottom also 928 weekly close and 927.20 weekly bottom (very major area) / 921.50 GBX weekly bottom (major) / 919.50 major day channel (very major) / 915.50 day bottom and 914.50 rev. peak also 913.50 minor channel (major area) / 907.80 weekly close and 907.50 major weekly channel (very major area) / 902.50 day session close and 899 intra-day gap area (major area) / 885 day session and 881 base (major area) / 875.50 weekly bottom (very major area).

Comments

    The whiplashing action on Monday was expected by having the neutral condition in the chart. The market closed up for the day after holding the 930 support area leaving the chart neutral again inside the 954 - 937 range. A trade above 954 -956 area is bullish and can challenge the 961 and 966 area. A trade above 966 will be considered a breakout for prices to challenge the 975 - 976.50 area and possibly near 991. A trade below 937 is bearish and a trade below 933 - 927.20 area can bring prices down to challenge the 919.50 - 915.50 area and possibly near 907.50. Remain defensive inside the 954 - 937 neutral area.



Day trades: For the September contract -

Aggressive traders can sell rallies near 953 - 956 area for obj. near 948 - 946 area. (Use a protective buy stop at 957).

Aggressive traders can sell rallies near 959.50 - 961 area and if possible near 963 for obj. near 955 - 953 area and possibly near 951. (Use a buy stop and rev. long at 969).

Aggressive traders can buy dips near 938 - 937 area for obj. near 942 - 944 area and possibly near 946. (Use a protective sell stop at 935. Do not rev. short).

Aggressive traders can buy dips near 933 - 930 area for obj. near 937 - 939 area and possibly near 941. (Use a sell stop and rev. short at 924).

Buy stop at 969 for obj. near 973 - 975 area and possibly near 978.

Buy stop at 984 for obj. near 988 - 990 area.

Sell stop at 924 for obj. near 921.50 and possibly near 919.50 area.

Sell stop at 911.50 for obj. near 908.50 - 907.50 area.

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

Bulletin - Originally sent 8/27/02 (3:59 pm est)

The sell-off down to the 931.70 put traders into long positions and met the obj. at 937.

The sell-off down to the 930 area put aggressive traders into long positions again. The rally up to the 935 should be considered a good place to consider taking profits because it is repeating the trade for the second time. Congratulations for those who followed the report today. This makes it the fourth winning trade in a row today.
Results:    8/27/02

Sold @ 954             Bought @ 946      = + $2,000.00

Bought @ 938         Sold @ 942          = + $1,000.00

Bought @ 933.70     Sold @ 937          = + $  825.00

Bought @ 930         Sold @ 935          = + $1,250.00

TOTAL (P & L)                                       + $5,075.00

        thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Wednesday 08-28-02 : 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:

936.50 intra-day channel also 937, 937.30 and 938.20 peaks (major area) / 941 and 943.50 peaks (major area) / 949.40 peak and 953 day channel (very major area) / 956.30 and 956.50 day tops and 957.50 major day channel (very major area) / 961.10 day gap and 962.50 GBX top (major area) / 966 weekly top (very major) / 975 and 976.50 is the 50% retracement on the weekly and daily chart (very major area) / 978.30 day session close and 980.50 day top also 981.70 GBX top (major area) / 990.10 monthly close and 991 weekly close also 991 weekly channel and 992 major day channel (very major area).

Support:

936 newly developed day channel (major) / 933 base and 932 minor channel also 930 double bottom (very major area) / 928 weekly close and 927.20 day bottom also 926 major day channel (very major area) / 921.50 GBX weekly bottom (major) / 918 day channel and 915.50 bottom (very major area) / 907.80 weekly close and 907.50 weekly channel (very major area) / 902.50 day session close and 899 intra-day gap (major area) / 885 day session close and 881 intra-day base (major area) / 875.50 weekly bottom (very major).

Comments

    The sell-off on Tuesday brought prices down below the last six days closing prices leaving the chart neutral to slightly bearish. The market faces very major support areas at 933 - 930 and again at 918 - 915.50 and also at 907.50. Any one of these areas can stimulate buying for some follow-through rallies . A trade below the 907.50 area will fail the major support for prices to trade down and challenge the 875.50 bottom area and possibly lower. A trade above 953 - 957.50 area is slightly bullish but only a trade above 962 - 966 area can challenge the 975 - 976.50 area and possibly bring prices up near the 991 area. Remain very defensive inside the 949 - 926 neutral trading range.



Day trades: For the September contract -

Aggressive traders can buy dips near 930 - 926 area for obj. near 934.50 - 936 area. (Use a sell stop and rev. short at 923).

Aggressive traders can buy dips near 920 - 918 area and if possible near 916 for obj. near 926 - 929 area. (Use a sell stop and rev. short at 913).

Aggressive traders can attempt long positions near 910 - 907.50 area for obj. near 915 and possibly near 917 - 918 area. (Use a protective sell stop at 904. Do not rev. short).

Aggressive traders can sell rallies near 946 - 949 area and if possible near 951 for obj. near 941 - 939 area. (Use a protective buy stop at 958. Do not rev. long).

Aggressive traders can sell rallies near 962 - 966 area if it gets there, for obj. near 957 - 955 area and possibly near 952. (Use a buy stop and rev. long at 969).

Sell stop at 923 for obj. near 920 - 918 area and possibly near 916.

Sell stop at 913 for obj. near 910 - 907.50 area.

Buy stop at 969 for obj. near 973 - 975 area and possibly near 978.

Long-term positions traders holding short positions from Monday's bulletin at 951 can look to take profits at the 930 - 926 area or market on open and wait for the next signal. Only a trade below 899 will trigger another long-term short position.

* 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 8/28/02 (11:19 am est)

The 923 sell stop was hit putting traders into short positions. The market seems to be holding support at 921 and therefore it is recommended to exit the short position at 921 - 922 area before losses can occur.

Bulletin - Originally sent 8/28/02 (1:45 pm est)

The market hit the buy at 918 - 916 area where long positions were taken. The rally up to 923.80 proved to show resistance. It is recommended to exit long positions near 920 and take profits before possible losses occur.

Bulletin - Originally sent 8/28/02 (1:59 pm est)

The sell-off down to the double bottom at 916 is considered support and a buy area. Traders can re-enter long positions between 916 and 918 for an obj. near 923 and possibly near 926 area. Continue to use a protective sell stop at 913 but do not rev. short at this time. The 913 sell stop is now cancelled. The buy area at 907.50 is still a buy area where long positions can be attempted.
Results:    8/28/02

Bought @ 927       Sold @ 923               = - $1,000.00

Sold @ 923           Bought @ 921.50       = + $ 375.00   (bought as per bulletin)

Bought @ 920       Sold @ 920               =    $   -0-         (sold as per bulletin)

Bought @ 916      Sold @ 920               = + $1,000.00   (sold as per bulletin)

Bought @ 917      Sold @ 913               = - $1,000.00   (bought as per bulletin)

TOTAL (P & L)                                          - $   625.00

Long-term position: sold @ 951   (8/26/02)     Bought @ 927   (8/28/02)   = + $6,000.00



thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Thursday 08-29-02 : 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:

918.70 newly developed day channel with GBX prices and 920 intra-day channel (major area) / 922.50 and 923.40 peaks (major area) / 927.80 peak and 929.50 day top (major area) / 936.50 day gap and 937.50 GBX top (very major area) / 941 peak and 941 weekly close (major area) / 946.50 intra-day channel and 949.40 peak also 950 minor day channel (very major area) / 955.50 major day channel also 956.30 and 956.50 double day tops (very major area) / 961 day gap and 962.50 GBX top (major area) / 966 weekly top (very major).

Support:

916 newly developed day channel (major) / 913 bottom also 912 rev. peak and 911.50 monthly close (very major area) / 907.80 weekly close and 907.50 weekly channel (very major area) / 902.50 day session close and 899 intra-day gap (major area) / 885 day session close and 881 intra-day base (major area) / 875.50 weekly bottom (very major) / 869.50 is the 50% retracement from the 966 top and 773 bottom (very major area).

Comments

    The sell-off on Wednesday brought prices down to a very significant support area. The 912 - 907.50 support area can possibly stimulate rallies back up to the 940 - 950 area again. A trade below 907.50 will fail the major support and can possibly bring prices down near the 50% retracement area of 869.50 and possibly lower. Overall, the 907.50 support area is considered a buying area until it proves to fail. A trade above 918.70 - 920 area and 923.40 is slightly bullish and can stimulate buying but a trade above 936.50 - 937.50 area is bullish enough to challenge the 950 - 956 area again. Remain defensive until a breakout is seen to either side of the 927 - 907.50 neutral area.



Day trades: For the September contract -

Aggressive traders can buy dips near 912 - 907.50 area for obj. near 918 - 920 area. (Use a sell stop and rev. short at 904.50).

NOTE: If the market opens above 923, aggressive traders can enter long positions near 920 - 920.50 are for obj. near 926.50 - 928 area and possibly near 929. (Use a protective sell stop at 914. Do not rev. short).

Buy stop at 924.50 for obj. near 926.50 - 928 area and possibly near 929.

Buy stop at 932.50 for obj. near 935 - 936.50 gap area and possibly near 937.

Buy stop at 944 for obj. near 947 - 949 area and possibly near 950.

Aggressive traders can consider short positions near 947 - 949 area and if possible near 950 for obj. near 942 and possibly near 940. (Use a protective buy stop at 958.50. Do not rev. long).

Sell stop at 904.50 for obj. near 902.50 - 899 area.

Sell stop at 896 for obj. near 886 and possibly near 883 - 881 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 8/29/02 (9:41 am est)

The sell stop was hit at 904.50 but the performance of the market seems supportive and can possibly stimulate rallies. This area is a very critical support area and can possibly bring rallies back up to the 940 area again. It is recommended to exit short positions at the market to cut losses.

Aggressive traders can attempt long positions near 906 and use sell stop and rev. short at 896.

Bulletin - Originally sent 8/29/02 (10:37 am est)

The rally up to the 915 area seems worthy for all long positions to take profits and exit the trade. Continue to use buy stops as listed in the report.

Bulletin - Originally sent 8/29/02 (1:06 pm est)

The buy stop was hit at 924.50 putting traders into long positions. The sell-off seen after the buy stop was hit proves the area to be a resistance and a signal to exit and cut losses.
It is recommended to exit near the 923 - 922 area and cut losses or use a protective sell stop at 919 whichever comes first to exit the trade.
Results:    8/29/02

Bought @ 907.50       Sold @ 904.50      = - $ 750.00

Sold @ 904.50           Bought @ 905       = - $ 125.00     (bought as per bulletin)

Bought @ 905           Sold @ 915           =  + $2,500.00    (bought as per bulletin)

Bought @ 924.50      Sold @ 921.70      = - $ 700.00

TOTAL (P & L)                                           + $   925.00

        thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Friday 08-30-02 : 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:

918 and 920.50 peaks (major area) / 921.50 minor day channel also 923 peak (major area) / 925.20 day top (major) / 928 weekly close also 929.50 day top and 930 rev. base (very major area) / 936.50 day gap and 937.50 GBX top (major area) / 941 weekly close and 943.50 intra-day peak (major area) / 946.50 minor day channel and 946.80 intra-day gap also 947 and 949.40 peaks (very major area) / 953.50 major channel line and 956.30 weekly top (very major area) / 960.50 minor day channel and 961.10 gap also 962.50 GBX top (very major area) / 966 weekly top (very major).

Support:

915.50 base (significant) / 912.20 base also 911.50 monthly close and 910.20 base (major area) / 907.50 newly developed day channel also 905 newly developed minor channel (very major area) / 902.80 bottom also 899 intra-day gap (very major area) / 885 day session close and 881 base (major area) / 875.50 weekly bottom (very major) / 869.50 is the 50% retracement area (very major) / 865.50 minor day channel and 865 weekly close (major area).

Comments

    The rally from the major support at 907.50 - 902.50 area proved the significance of the area but was unable to penetrate above the 929.50 - 930 resistance leaving the chart totally neutral. A trade above 921.50 - 925.20 area is bullish and can bring prices up to challenge the 936.50 gap and 946.50 major channel resistance but overall the market has absolutely no range of direction. A trade today below 907.50 - 905 area is bearish and a trade below 902.50 - 899 area can bring prices down near the 875.50 bottom and 869.50, which is the 50% retracement area, that can possibly be a good buying area if it gets there. Remain defensive inside this 921.50 - 907 narrow neutral range until a breakout is seen to either side.



Day trades: For the September contract -

Aggressive traders can sell rallies near 918 - 921.50 area or buy dips near 912.50 - 910.50 area and possibly near 908, whichever side comes first to complete the trade. (Use a buy stop and rev. long at 925.50). (Use a sell stop and rev. short at 896). (Conservative traders can use a protective sell stop at 903.80. Do not rev. short).

Aggressive traders can attempt short positions near 945 - 946.50 area if it gets there, for obj. near 941 - 939.50 area. (Use a protective buy stop at 955. Do not rev. long).

Buy stop at 925.50 for obj. near 928 - 929 and possibly near 931.

Buy stop at 933 for obj. near 936 - 937 area and possibly near 941.

Sell stop at 896 for obj. near 887 - 885 area and possibly near 882.

Sell stop at 879.50 for obj. near 875.50 and possibly near 870 - 865 area.

Long-term position traders can attempt long positions near 875.50 - 865 area, if it gets there. Hold for obj. near 940 - 950 area and possibly higher. (Use a protective sell stop at 850).

* 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 8/30/02 (9:54 am est)

The market hit the buy area where long positions were taken at 910.50. The rally up to 916 is showing signs of resistance where traders should consider taking profits and not waiting for the 918 obj. It is recommended to exit near 914.50 - 915 area and take profits.

Bulletin - Originally sent 8/30/02 (10:13 am est)

The market reached the high end of the sell area where aggressive traders took short positions at 921.50. The obj. for this trade will be near 916.50 - 916 area. The reason for the obj. to change to the 916.50 - 916 area is because this first trade is actually being repeated. This information is new subscribers to better understand the report.

Bulletin - Originally sent 8/30/02 (11:22 am est)

The sell-off down to the 919 area can be considered support where profits should be considered and exit the trade of the short position taken at 921.50.

Bulletin - Originally sent 8/30/02 (12:54 pm est)

The market hit the buy stop at 925.50 putting traders into long positions. The rally up to 927.50 is near enough to complete the trade. All long positions should exit and take profits.

Bulletin - Originally sent 8/30/02 (2:43 pm est)

The market continues to hold a momentum to the upside today that can possibly bring prices up near the 936.50 gap area.   It is not bad to hold a bullish attitude, but the 933 buy stop from today's report is becoming a high risk at this time of the day, and can possibly turn into a loss. The sell-off from the 928.70 area is the first signal of a lot of resistance still remaining in this area
It is recommended to cancel the 933 buy stop and let the trade go. The sell at the 945 - 946.50 area will still remain a worthy trade for the entire day, if it gets there.

Results:    8/30/02

Bought @ 910.50       Sold @ 914.50        = + $1,000.00

Sold @ 921.50           Bought @ 919.50    = + $ 500.00

Bought @ 925.50       Sold @ 927            =  + $ 375.00

TOTAL (P & L)                                             + $1,875.00

The week in review - 9/03/02 - 9/06/02

The Tech Guru's S & P Day Trading Recommendations

thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Tuesday 09-03-02 : 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:

916 newly developed monthly channel also 916.30 peak and intra-day channel (very major area) / 920 and 921.50 peaks (major area) / 923.80 peak and 924.70 intra-day channel (very major area) / 928.70 and 929.50 day tops also 930 rev. base (very major area) / 936.50 day gap and 937.50 GBX top (major area) / 940 minor day channel and 941 weekly close (major area) / 946.50 weekly channel and 949.50 major day channel (very major area) / 956.30 weekly top and 958.50 minor day channel (very major area) / 961.10 gap and 962.50 GBX top (major area) / 966 weekly top (very major).

Support:

913 minor weekly channel and 912.50 major day channel also 911.50 rev. day channel and monthly close (very major area) / 909.20 bottom and 907.50 minor channel (major area) / 902.80 weekly bottom and 899 intra-day gap (very major area) / 885 day session close and 884 newly developed monthly channel (very major area) / 875.50 weekly bottom (very major) / 869.50 is the 50% retracement area and 869.50 minor day channel (very major area) / 865 weekly closing price (major).

Comments

    The sell-off from the 929.50 - 930 area proved the significance of the area leaving the chart neutral to bearish. The weekly closing price was lower than the last two weeks closes, putting additional bearish conditions for lower prices to develop. A trade above 924.70 is bullish and a trade above 929.50 - 930 area can bring prices up to challenge the 946.50 - 949.50 area. At this time, only a trade above 949.50 and again above 962.50 can bring the major uptrend back into play. A trade below 902.80 and 899 is bearish and can bring prices down to challenge the 884 monthly channel and possibly near the 869.50 area, which is the 50% retracement between the 966 top and 773 bottom. A trade below 865 will fail the major support for prices to challenge the 828.50 bottom area again and possibly lower. Remain defensively bearish until the market can prove otherwise.



Day trades: For the September contract -

If the day session opens below 907- Aggressive traders can sell rallies near 907 - 911 or buy dips near 902.80 - 899 area, whichever side comes first, to complete the trade. (Use a protective buy stop at 914.50. Do not rev. long). (Use a sell stop and rev. short at 895.50).

Aggressive traders can sell rallies near 923 - 924.50 area, if it gets there, for obj. near 919 - 917 area. (Use a buy stop and rev. long at 931.20).

Aggressive traders can attempt short positions near 946 and if possible near 949 for obj. near 940 - 938 area. (Use a protective buy stop at 957. Do not rev. long).

Aggressive traders can buy dips near 885 - 884 area for obj. near 892 - 895 area and possibly near 899. (Use a protective sell stop at 879. Do not rev. short).

Aggressive traders can attempt long positions near 875.50 - 869.50 area for obj. near 884 - 885 area and possibly near 889. (Use a sell stop and rev. short at 862).

Buy stop at 931.20 for obj. near 935.50 - 937.50 area and possibly near 941.

Sell stop at 895.50 for obj. near 887 - 885 area and possibly near 884.

Sell stop at 862 for obj. near 857 - 855 area and possibly near 847 bottom.

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

Bulletin - Originally sent 9/03/02 (10:10 am est)

The market sold off hitting the sell stop at 895.50 putting traders into short positions. The sell off down to 889 - 890.50 is showing support at this time and should be considered an area to buy in order to flatten out short positions and take profits. The market is trading at 890.50 at this time.
Results:    9/03/02

Bought @ 901        Sold @ 895.50              = - $1,375.00

Sold @ 895.50        Bought @ 890              = + $1,375.00

Bought @ 885         Sold @ 890.50           = + $1,375.00

Bought @ 876         Sold @ 877.50             = + $   375.00

TOTAL (P & L)                                               + $1,750.00

        thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Wednesday 09-04-02 : 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:

878.50 intra-day channel and 879.50 rev. day channel (major area) / 884 intra-day channel also 884 peak and gap (major area) / 888.50 peak and 889.50 day channel also 890.50 peak (very major area) / 897 day channel with GBX prices (major) / 902 major day channel also 902.50 day top (very major area) / 908.50 GBX gap and top and 912 GBX top (major area) / 916.10 weekly close and monthly gap also 916.50 minor channel (very major area) / 923.80 intra-day peak (major) / 928.70 and 929.50 double peaks (very major area).

Support:

876 bottom and 875.50 weekly bottom (very major area) / 872 minor day channel with GBX prices also 869.50 is the 50% retracement area (very major area) / 865 weekly closing price (major) / 853.80 day bottom and 853.70 weekly closing price (very major area) / 847 day bottom and 844 weekly close (very major area) / 834 day session close and 831.20 weekly bottom also 828.50 GBX weekly bottom (very major area).

Comments

    The sell-off on Tuesday was bearish but brought prices down to a very significant support area that could stimulate buying for rallies back up. The bearish sell-off against the major support leaves the chart neutral for swings either way. A trade below 875.50 and again below 872 - 869.50 area is bearish but a trade below the 865 weekly closing price can bring prices down to challenge the 853.80 weekly close and possibly near the 844 - 834 gap area. A trade below 828.50 can challenge the 773 bottom and possibly lower. At this time, a trade above 889 - 890.50 area is bullish but a trade above 900.50 - 902 area can bring the bullishness back to the chart for prices to reach the 916.10 gap and possibly near the 928.70 - 929.50 double top area. Traders can remain aggressive buyers at this major support area until the market can prove to fail the 865 support.



Day trades: For the September contract -

Aggressive traders can attempt long positions, buying between 878 - 881 area for obj. near 884 and possibly near 887 area. (Use a protective sell stop at 874.50. Do not rev. short).

Aggressive traders can attempt long positions near 872.50 - 869.50 area and if possible near 865 for obj. near 876 - 879 area. (Use a sell stop and rev. short at 862).

Aggressive traders can sell rallies near 889 - 890 area for obj. near 886 - 884 area. (Use a buy stop and rev. long at 893).

Sell stop at 862 for obj. near 857 - 855 area and possibly near 854.

Buy stop at 893 for obj. near 897 and possibly near 900 - 902 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 9/04/02 (3:41 pm est)

The rally hit the buy stop at 893 putting traders into long positions. After some time trading above the 890.50 area the double top at 894.50 area is beginning to get top heavy and has the possibility of some retracements.

It is recommended to exit the long position at the 893 area and scratch the trade.
Results:    9/04/02

Bought @ 880          Sold @ 884            = + $1,000.00

Sold @ 888.50         Bought @ 885        = + $ 875.00

Bought @ 893          Sold @ 894.50        = + $  375.00     (as per bulletin)

TOTAL (P & L)                                           + $2,250.00

        thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Thursday 09-05-02 : 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:

890.50 peak and 891.50 minor day channel also 892.50 major day channel (very major area) / 896.30 peak also 897 day top (major area) / 902.50 day top and 902.80 rev. base (major area) / 908.50 GBX gap and 912 GBX top also 912.50 minor GBX channel (major area) / 916.10 weekly and monthly closing price and gap (very major area) / 923.80 intra-day peak (major) / 928.70 and 929.50 double peak (very major area) / 936.50 day gap and 937.50 GBX top also 941 weekly close (very major).

Support:

888.50 intra-day channel and 888 base also 887 rev. channel (major area) / 885.50 base (major) / 881.50 and 879 base areas also 879 newly developed day channel (very major area) / 875.50 double bottom and 875 minor down channel also 873.70 minor channel and day bottom (very major area) / 865 weekly closing price (major) / 861 day session close (major) / 853.80 day bottom and 853.70 weekly closing price (very major area) / 847 day bottom and 844 weekly closing price (very major area) / 834 day session close and 831.20 weekly bottom also 828.50 GBX weekly bottom (very major area).

Comments

    The rally on Wednesday from the 875.50 support proves the significance of this major support area and traders should continue to be treat this area as a buying area until it can prove to fail below the 865 weekly closing price. A trade below 865 - 861 area is bearish and can bring prices down to challenge the 853.70 weekly close and 847 bottom area and possibly lower.  At this time only a trade below 828.50 will fail all the major supports and can bring prices down to challenge new contract lows. A trade above 892.50 is slightly bullish but a trade above 902.50 can bring price up to the 916.10 monthly gap and possibly higher. Remain overall neutral to bullish at this very critical support area until it can prove a solid direction.



Day trades: For the September contract -

Aggressive traders can buy dips near 879 - 875 area and if possible near 873.70 for obj. near 887 - 890 area. (Use a sell stop and rev. short at 860). (Conservative traders can use a protective sell stop at 869. Do not rev. short). NOTE: The 865 area is a buying area where long positions can be considered. Continue to use a sell stop and rev. short at 860.

Aggressive traders can sell rallies near 890 - 892 area for obj. near 887 - 885 area. (Use a buy stop and rev. long at 894.50).

Sell stop at 860 for obj. near 855 - 854 area and possibly near 849 - 847 bottom area.

Sell stop at 840.50 for obj. near 836 - 834 bottom area and possibly near 832.

Buy stop at 894.50 for obj. near 897.50 - 898.50 area and possibly near 900 -903 area.

Buy stop at 906 for obj. near 910 - 912 area and possibly near 916.10 gap.

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

Bulletin - Originally sent 9/05/02 (10:35 am est)

The market continues to hold the support area at the 869.50, which is the 50% retracement between the high at 966 and the low at 773. The conservative sell stop at 869 seems to be too close for comfort at this time, and should be removed. Conservative traders can now use a protective sell stop at 867 but must realize that 865 will continue to be a buying area until the market proves to fail below.

Aggressive traders can continue to use a sell stop and rev. short at 860.

Bulletin - Originally sent 9/05/02 (11:08 am est)

The rally up to the 882.50 area puts traders into a profit from the long positions taken at 876 and 870 area. It is recommended for traders to take profits at this time in the 881 - 882 area and wait for the next signal.
Results:    9/05/02

Bought @ 876          Sold @ 881.50         = + $1,375.00

Bought @ 871          Sold @ 881.50         = + $2,625.00

Sold @ 888.50         Bought @ 885.50      = + $ 750.00

Bought @ 879          Sold @ 887              = + $2,000.00     (repeat of first trade)

TOTAL (P & L)                                            + $6,750.00

        thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Friday 09-06-02 : 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:

883.50 major day channel and 886 minor day channel also 886.80 intra-day channel (very major area) / 888.50 day top also 889.70 day gap and 891 GBX top (major area) / 896.30 peak and 897 day top (major area) / 902.50 day top and 902.80 rev. base (major area) / 908.50 GBX gap and minor channel also 912 GBX top (major area) / 916.10 weekly and monthly closing price (very major area) / 923.80 intra-day peak (major) / 928.70 and 929.50 double top (very major area) / 936.50 day gap and 937.50 GBX top also 941 weekly close (very major area).

Support:

881.50 intra-day channel and 880.20 base (major area) / 879 rev. channel and 878.50 base also 877 base (very major area) / 875.50 base and 874 intra-day base (major area) / 872.50 newly developed day channel and 869.50 bottom (very major area) / 867 minor down channel and 865 weekly closing price (major) / 861 day session close (major) / 853.80 day bottom and 853.70 weekly closing price (very major area) / 847 day bottom and 844 weekly closing price (very major area) / 834 day session close and 831.20 weekly bottom also 828.50 GBX weekly bottom (very major area).

Comments

    The whiplashing on Thursday to both sides of the neutral range continued to prove the significance of this major support area. The 869.50, which is the 50% retracement between the 966 top and 773 bottom also proved to be supportive by closing Thursday's session well above that area. The technical base formation that has developed over the last three days can also add to the bullishness in this area for higher prices to develop. At this time, only a trade below the 865 - 861 area can bring bearishness to the chart for lower prices. A trade above 888.50 - 889.70 is bullish and a trade above 897 and 902.50 area can stimulate buying to bring prices up near the 916.10 major gap area, which technically seems more likely to develop than a trade below 865. Remain neutral to bullish until the market can prove otherwise.



Day trades: For the September contract -

If the market opens below 884 - Aggressive traders can buy dips near 881.50 and if possible near 879 for obj. near 886 and possibly near 889.70 gap area. (Use a protective sell stop at 870. Do not rev. short).

Aggressive traders can buy dips near 867 - 865 area, if it gets there, for obj. near 873 and possibly near 875 area. (Use a sell stop and rev. short at 860).

If the market opens above 886, aggressive traders can attempt long positions near 888 - 886 area for obj. near 891 - 893 area. (Use a protective sell stop at 883. Do not rev. short). NOTE: If stops are hit at 883 in this trade, then look to buy dips near 881 - 879 area as listed in the first trade.

Sell stop at 860 for obj. near 855 - 854 area.

Sell stop at 851 for obj. near 847 - 844 area.

Sell stop at 840.50 for obj. near 836 - 834 area.

If the market opens the day session below 884, then traders can use a buy stop at 887.20 for obj. near 891 - 893 area.

Buy stop at 897.70 for obj. near 901 - 903 area.

Buy stop at 905.50 for obj. near 908.50 - 911 area.

Buy stop at 913 for obj. near 916.10 gap area and possibly near 921.

* 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 9/06/02 (10:36 am est)

The rally this morning hit the buy stop at 897.70 and proceeded to sell off, hitting the buy area at 888 putting traders into long positions again. The obj. is now to exit near 895 - 897 area, which will show a profit from 888 but a small loss from the 897.70 buy stop.

Results:    9/06/02

Bought @ 897.70    Sold @ 895         = - $   675.00

Bought @ 888           Sold @ 895         = + $1,750.00

TOTAL (P & L)                                        + $1,075.00

The week in review - 9/09/02 - 9/13/02

The Tech Guru's S & P Day Trading Recommendations

thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Monday 09-09-02 : 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:

894 newly developed day channel (major) / 897 GBX channel and 899 minor day channel also 899.90 day top (very major area) / 902.50 day top and 902.80 rev. base also 904.50 GBX channel (major area) / 908.50 GBX close and 912 GBX top (major area) / 916.10 weekly and monthly closing price (very major area) / 923.80 intra-day peak (major) / 927 minor channel also 928.70 and 929.50 double top (very major area) / 935 weekly channel also 936.50 day gap and 937.50 GBX top (very major area) / 940 minor weekly channel also 941 major day channel and 941 weekly close (very major area) / 950 minor weekly channel (very major area).

Support:

892 intra-day channel also 892 and 891.50 base (major area) / 888 bottom and 885 intra-day channel also 885 weekly channel (very major area) / 883.20 day gap and 881.50 GBX bottom (major area) / 880 minor weekly channel and 875.50 major day channel (very major area) / 873.50 minor day channel and 869.50 weekly bottom (very major area) / 865 weekly close also 863.50 minor down channel and 861 day session close (major area) / 853.80 day bottom and 853.70 weekly closing price (very major area) / 847 day bottom and 844 weekly closing price (very major area).

Comments

    The rally and close on Friday put the chart in neutral to bullish condition proving the 869.50, which was the 50% retracement area, to be supportive enough to stimulate rallies as expected. A trade below 885 today is slightly bearish but a trade below 880 - 875.50 area can stimulate selling to bring prices down to challenge near the 865 support. A trade below 865 - 861 area will fail major support that can bring prices down near the 844 - 834 gap area and possibly lower. A trade above 897 - 899 area will be considered a breakout for prices to reach up near the 916.10 gap area and possibly higher. At this time, the 935 - 940 area is showing strong resistance, enough to possibly hold back any further rallies. A trade above 940 - 950 area will be considered a major breakout for the uptrend to continue and challenge the 966 top area. Remain neutral to bullish until the market can prove otherwise.



Day trades: For the September contract -

Aggressive traders can buy dips near 888 - 885 area for obj. near 894 - 897 area and possibly near 899. (Use a protective sell stop at 867.80. Do not rev. short). NOTE: If the sell-off continues before this trade is complete, then follow the next aggressive trade and exit both long positions together at the obj. or stop listed in that trade.

Aggressive traders can buy dips near 881.50 - 880 area and if possible near 877 - 875.50 area for obj. near 884 - 885 area and possibly near 888. (Use a protective sell stop at 867.80. Do not rev. short).

Aggressive traders can attempt long positions near 865 - 863.50 area for obj. near 869 - 871 area and possibly near 873. (Use a sell stop and rev. short at 859.80).

Sell stop at 859.80 for obj. near 855 - 853.80 area.

Sell stop at 851 for obj. near 847.50 and possibly near 845.

Buy stop at 900.50 for obj. near 903.50 - 904.50 area.

Buy stop at 905.50 for obj. near 908 - 911 area.

Buy stop at 913 for obj. near 916.10 gap and possibly near 921.

* 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 9/09/02 (3:13 pm est)

The rally hit the buy stop at 905.50 putting traders into long positions. The double top at 907 is showing resistance for a signal to exit the long position and take profits.
The possibility for the market to trade into higher prices can still materialize. Continue to use the buy stop at 913 to re-enter long positions again for obj. near 916.10 gap area.

Results:    9/09/02

Bought @ 887          Sold @ 895.50        = + $2,125.00

Bought @ 882.50      Sold @ 895.50        = + $3,250.00

Bought @ 900.50      Sold @ 903.50        = + $ 750.00

Bought @ 905.50      Sold @ 907            = + $   375.00      (as per bulletin)

TOTAL (P & L)                                           + $6,500.00

        thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Tuesday 09-10-02 : 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:

902.50 peak also 902.50 newly developed day channel (major area) / 906.50 intra-day channel also 907 and 907.70 top area and 908.50 intra-day channel and GBX gap (major area) / 912 GBX top (major) / 916.10 weekly and monthly closing price (very major area) / 923.80 intra-day peak and 924 minor day channel (major area) / 928.70 and 929.50 double top also 930 rev. base (very major area) / 935 weekly channel also 936.50 day gap and 937.50 GBX top (very major area) / 939 major day channel and 940 minor weekly channel also 941 weekly close (very major area) / 950 minor weekly channel and 953 minor day channel (very major area).

Support:

898 rev. channel (major) / 894.50 base and 891 rev. peak (major area) / 889 newly developed day channel and 886.80 intra-day channel (very major area) / 882.50 bottom and 880 minor weekly channel also 879 major day channel (very major area) / 875 minor day channel (major) / 869.50 weekly bottom also 865 weekly closing price (very major area) / 861 day session closing price (major) / 853.80 day bottom and 853.70 weekly closing price (very major area).

Comments:

    The rally on Monday from the support area materialized as expected closing up for the second day in a row and keeping the chart in neutral to bearish condition. A trade above 908.50 - 912 area can bring prices up to fill the 916.10 gap and possibly a bit higher. The market faces major resistance at the 935 and 940 area that could be significant enough to hold back any further rallies for a while. A trade above 950 - 953 area is a breakout and can challenge the 966 major top and possibly higher. A trade below 889 - 886.80 area is slightly bearish but only a trade below 880 - 875 area can challenge the 869.50 bottom and 865 support area. A trade below 865 - 861 area will fail the major support and can bring prices down to challenge the 834 gap and possibly the contract lows. Remain defensively bullish inside the 924 - 889 neutral to bullish trading range.



Day trades: For the September contract -

Very aggressive traders can attempt short positions near 906 - 908 for obj. near 902.50 - 901 area. (Use a buy stop and rev. long at 913).

Aggressive traders can buy dips near 894.50 - 891.50 area and if possible near 889 for obj. near 899 - 901 area. (Use a protective sell stop at 885. Do not rev. short).

Aggressive traders can attempt long positions near 880 and if possible near 875 for obj. near 886 - 889 area. (Use a sell stop and rev. short at 873.80).

Buy stop at 913 for obj. near 916.10 gap area and possibly near 921.

Buy stop at 925 for obj. near 928 - 929 area and possibly near 930.

Buy stop at 931.70 for obj. near 935 - 936.50 area.

Sell stop at 873.80 for obj. near 870 - 869 area and possibly near 867 - 865 area.

Sell stop at 859.50 for obj. near 855 - 854 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 9/10/02 (1:02 pm est)

The 901 double bottom can prove to be support for a buy signal. Traders attempting long positions at the 902 - 904 area can look for obj. near 908 - 910. (Use a protective sell stop at 896.80. Do not rev. short).
The 894.50 - 891.50 area and 889 is still considered support and a buying area where long positions can be taken.

The 913 buy stop will remain in effect until the end of the day for obj. near 916.10 gap area and possibly near 921.

Bulletin - Originally sent 9/10/02 (4:03 pm est)

Cancel the 913 buy stop for today. the technical formation appears top heavy as well as it being too late in the day to risk the trade.
Results:    9/10/02

Sold @ 906         Bought @ 902.50       = + $   875.00

Bought @ 903      Sold @ 909               = + $1,500.00      (as per bulletin)

TOTAL (P & L)                                         + $2,375.00

        thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Wednesday 09-11-02 : 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:

913 minor monthly channel (major) / 916.10 weekly and monthly gap (very major area) / 920.50 minor day channel (major) / 928.70 and 929.50 double top also 930 rev. base (very major area) / 935 weekly channel and 937 major day channel also 936.50 day gap and 937.50 GBX top (very major area) / 940 minor weekly channel and 941 weekly close (very major area) / 947.50 day session close and 950 minor weekly channel also 953 minor day channel (major area) / 956.30 and 956.50 double top area also 961.10 day gap and highest day session close (very major area).

Support:

907.50 rev. channel and 907 intra-day channel (major area) / 905 base (major) / 903 major intra-day channel and 900 day bottom (very major area) / 898.50 GBX bottom and 895.80 day channel also 894.50 weekly closing price (very major area) / 882.50 bottom and 882 major day channel also 880 minor weekly channel (very major area) / 877 minor day channel (major) / 869.50 weekly bottom and 865 weekly closing price (very major area).

Comments:

    The follow through rally on Tuesday managed to close the market up for the third day in a row, leaving the chart in bullish condition for possible higher prices. At this time only a trade below 895.80 is bearish and can bring prices down to challenge the 882.50 - 880 area again. A trade below 880 - 877 will technically fail the major support for lower prices to follow.  It was mentioned in Friday's report on(09-06-02), that it would be more likely for the market to trade up to the 916 area before seeing the 865 area materialize, which it did, but the market now faces the 935 - 940 major resistance that could possibly hold back rallies for a while. Remain defensively bullish inside the 920.50 - 907 neutral range and very defensive at the 935 - 940 area if it gets there.



Day trades: For the September contract -

Very aggressive traders can sell rallies near 916 - 920 area for obj. near 912 and possibly near 909 - 907 area. (Use a buy stop and rev. long at 924).

Aggressive traders can buy dips near 909 - 907 area for obj. near 915 - 916 area and possibly near 920. (Use a protective sell stop at 902.50. Do not rev. short).

Aggressive traders can attempt long positions near 899 - 896 area, if it gets there, for obj. near 907 - 909 area and possibly near 911. (Use a sell stop and rev. short at 892).

Buy stop at 924 for obj. near 928 - 929 area and possibly near 930.

Buy stop at 931.70 for obj. near 934 - 935 area and possibly near 936.50 gap.

Sell stop at 892 for obj. near 886 - 885 area and possibly near 882.50 bottom.

Sell stop at 874 for obj. near 871 - 869 area and possibly near 865.

* 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 9/11/02 (1:46 pm est)

To refresh the trades for today: The buy stop at 924 was completed at 926.50.  Short positions were taken at 920.50 and now meeting the obj. at 912.50.

The buy area at 909 - 907 is now considered a very aggressive trade because of the sell-off from the very major resistance at 928 - 929 area. If the 909 - 907 trade is taken, continue to use the protective sell stop at 902.50. Do not rev. short. Aggressive traders can still consider long positions at the 899 - 896 area if it gets there and continue to use the sell stop and rev. short at 892.
Results:    9/11/02

Bought @ 924        Sold @ 926.50         = + $   650.00

Sold @ 920.50        Bought @ 912.50     = + $2,000.00

TOTAL (P & L)                                          + $2,650.00

        thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Thursday 09-12-02 : 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:

911 day session close also 914 intra-day channel and 914 peak (major area) / 917.50 and 918 intra-day peaks (major area) / 922 peak and 924 newly developed day channel (very major) / 926.90 day top also 928.70 and 929.50 double tops (major area) / 935 major day channel and 935 weekly channel also 936.50 day gap and 937.50 GBX top (very major area) / 940 minor weekly channel and 941 weekly closing price (very major area) / 947.50 day session close and 950 minor weekly channel also 952.50 and 953 minor day channels (very major area).

Support:

905 intra-day base (significant) / 902 day channel also 900.10 and 900 bottom area (very major area) / 894.50 weekly closing price (major) / 885 major day channel (very major) / 882.50 weekly bottom and 880 weekly channel also 879 minor day channel (very major area) / 869.50 weekly bottom also 865 weekly closing price (very major area).

Comments:

    The sell-off on Wednesday from the major resistance put the chart in neutral condition and subject to swing to either side of the 924 - 902 neutral trading range. A trade above 914 - 918 area is slightly bullish but a trade above 924 and 929.50 can bring prices up to challenge the 935 - 940 weekly channel resistance, which can be significant enough to hold back any further rallies for a while. A trade above 950 - 953 area will confirm a breakout for higher prices to follow. A trade below 902 - 900 area is slightly bearish and can possibly bring prices down to challenge the 885 - 880 area, which is supportive enough and can stimulate buying for higher prices to develop. A trade below 880 - 879 area can challenge the 869.50 - 865 area. A trade below 865 will fail the major support for lower prices to follow. Remain defensive inside the 924 - 902 neutral area. The market is subject to whiplash to both sides before proving a direction.



Day trades: For the September contract -

Aggressive traders can buy dips near 903 - 901 area for obj. near 906 - 909 area and possibly near 911. (Use a sell stop and rev. short at 897).

Aggressive traders can sell rallies near 914 - 917 for obj. near 910 - 908 area. (Use a buy stop and rev. long at 919).

Aggressive traders can attempt short positions near 935 for obj. near 928 - 925 area and possibly near 922. (Use a buy stop and rev. long at 943).

Aggressive traders can attempt long positions near 885 and if possible near 880 for obj. near 892 - 895 area and possibly near 997. (Use a sell stop and rev. short at 876).

Buy stop at 919 for obj. near 922 and possibly near 924 area.

Buy stop at 943 for obj. near 947 - 950 area.

Sell stop at 897 for obj. near 894.50 - 893 area.

Sell stop at 891.50 for obj. near 886.50 - 885 area and possibly near 880.

* 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 9/12/02 (2:42 pm est)

The market sold off hitting the sell stop at 891.50, putting traders into short positions. The obj. will remain at 886.50 - 885 area where long positions can then be considered. At this time, the market is showing resistance at 897 - 899. A trade above 899 will bring intra-day bullishness. It is recommended to use a protective buy stop for short positions at 899.50. Aggressive traders can also consider long positions at 899.50 for an obj. near 905 and possibly 908 area.

Bulletin - Originally sent 9/12/02 (4:08 pm est)

Position traders holding long positions taken at the 885 area can hold overnight for obj. near 905 area and possibly higher for tomorrow or some time next week. Continue to use a protective sell stop at 876 in all day sessions and overnight sessions until obj. is met.
Results:    9/12/02

Bought @ 901       Sold @ 897        = - $1,000.00

Sold @ 897           Bought @ 894    = + $   750.00

Sold @ 891.50       Bought @ 886    = + $1,375.00

Bought @ 885        Sold @ 889       = + $1,000.00

TOTAL (P & L)                                    + $2,125.00

Long-term position taken @ 885 remains open as per bulletin

        thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Friday 09-13-02 : 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 Dec. contract -

890 intra-day channel and 892 day channel with GBX prices (major area) / 895.70, 898.50 and 899.50 intra-day peaks (major area) / 903 day top to 906.30 day gap (major area) / 911.20 day session close (major) / 916.40 weekly and monthly close also 917.50 intra-day peak (major area) / 921.50 day channel (very major area) / 927 weekly top also 928.50 and 929 day tops and 931 major day channel (very major area) / 935 weekly channel and 936.90 day gap (very major area) / 941.20 weekly close (major).

Support: For the Dec. contract -

887 newly developed day channel and 886 minor day channel (major area) / 884.10 and 883 bottoms (major area) / 880.50 day channel and 880 weekly channel (very major area) / 877.70 day session close also 875.80 and 874.20 minor day channels (major area) / 869 weekly bottom and 864.70 weekly closing price (very major area) / 860.80 day session close (major) / 854 and 851 bottoms (major area) / 833.50 day gap and 832 weekly bottom also 828.50 weekly GBX bottom (very major area).

Comments:

    The sell-off on Thursday brought prices down near a very critical and major support at 880 - 876 area. The neutral to bearish condition leaves the chart defensive for possible lower prices but the 880 - 876 area can prove to be a significant enough support to stimulate rallies. A trade below 880 - 876 area can bring prices down to challenge the 869 - 864.70 support area. A trade below 864.70 will fail the major support for prices to possibly reach down near the 833.50 gap area. A trade above 892 is slightly bullish but a trade above 898.50 - 899.50 area can bring prices up to fill the 906.30 day gap. A trade above 911.20 can bring prices up to challenge the 921.50 and 929 resistance. Remain very defensive inside the 892 - 876 trading range.



Day trades: For the Dec. contract -

Aggressive traders can buy dips near 880 - 876 area for obj. near 885 - 886 area and possibly near 889. (Use a sell stop and rev. short at 873).

Aggressive traders can attempt long positions near 866 - 864.70 area, if it gets there, for obj. near 873 - 874 area and possibly near 879. (Use a sell stop and rev. short at 860).

Aggressive traders can sell rallies near 889 - 891 area for obj. near 886.50 and possibly near 885. (Use a buy stop and rev. long at 893.20).

Sell stop at 873 for obj. near 870 - 869 area and possibly near 866.

Sell stop at 860 for obj. near 855 - 854 area and possibly near 851.

Buy stop at 893.20 for obj. near 895.50 - 898.50 area.

Buy stop at 900 for obj. near 903 - 906 area and possibly near 909.

Buy stop at 913.70 for obj. near 917 and possibly near 919 - 921 area.

Long-term positions traders holding long positions can look for obj. near 903 - 906 area and possibly higher. (Use a protective sell stop at 860. Conservative traders can use a protective sell stop at 873).

* 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 prior to the daily report 9/13/02 (7:53 am est)

Long-term position traders holding long positions overnight should now use a protective sell stop at 860. Conservative traders can use a protective sell stop at 873.
Bulletin - Originally sent 9/13/02 (10:46 am est)

The first trade was complete after buying at the 880 - 876 area meeting the obj. at 886 - 889 area. The rally continued hitting the 890 where short positions were taken. The sell off down to 887.50 should be considered worthy for taking profits because of the strength seen in the market at the major support area.

Results:    9/13/02

Bought @ 880         Sold @ 886            = + $1,500.00

Sold @ 890             Bought @ 887.50    = + $  625.00

Bought @ 893.20     Sold @ 891.20       = - $   500.00

TOTAL (P & L)                                         + $1,625.00

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

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

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

Click here for previous Archived Daily S & P reports

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

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

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

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

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