The Tech Guru Commodity Report 

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Archived S & P Daily Reports

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

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The week in review - 9/16/02 - 9/20/02
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 09-16-02 :  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:  For the Dec. contract -
892 and 892.50 intra-day channel also 893.20 day top (major area) / 895.50 and 895.70 peaks also 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 also 912.20 weekly channel (very major area) / 916.40 weekly and monthly close also 919 day channel (major area) / 925 weekly channel and 927 weekly top also 927.20 minor weekly channel (very major area) / 928.50 and 929 day tops also 930.50 major day channel (very major area) / 936.90 day gap (major) / 941.20 weekly close also 945 minor weekly channel (very major area).
 
Support:  For the Dec. contract -
891.20 newly developed weekly channel and 886 minor weekly channel (very major area) / 883.50 minor weekly channel (major) / 879.50 major day channel and 877.50 minor day channel also 876.50 weekly bottom (major area) / 869.50 and 869 weekly bottoms also 864.70 weekly closing price (very major area) / 860.80 day session close (major) / 854 and 851 bottoms (major area) / 844 weekly closing price (very major area) / 833.50 day gap and 831.20 and 832 weekly bottoms also 828.50 GBX weekly bottom (very major area).
 
Comments:  
    The market continued to hold the major support on Friday proving the significance of the area.  The close on Friday was slightly higher for the day but the weekly managed to close slightly lower leaving the chart neutral but technically supportive.  A trade below 886 is slightly bearish but a trade below 879 - 877.50 area can bring prices down to challenge the 869 - 865 area.  A trade below 865 will fail the major support for lower prices to follow. A trade above 899.50 can prove to be bullish enough to bring prices up to challenge the 919 and 927 major resistances.  A trade above 927 - 930.50 area will be considered a breakout for higher prices.  Remain overall bullish in this critically supportive area until the market can prove otherwise.
                                                                       
Day trades:  For the Dec. contract -
 
Aggressive traders can buy dips near 889 - 886 area and if possible near 884 for obj. near 893 - 895 area and possibly near 898.  (Use a sell stop and rev. short at 874).
 
Aggressive traders can attempt long positions near 867 - 865 area for obj. near 873 - 876 area and possibly near 878.  (Use a sell stop and rev. short at 859.50).
 
Sell stop at 874 for obj. near 870 - 869 area and possibly near 867 - 865 area.
Sell stop at 859.50 for obj. near 855 - 854 bottom area and possibly near 851.
 
Buy stop at 900.70 for obj. near 905 - 906 area.
Buy stop at 915.20 for obj. near 919 and possibly near 921 - 924 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 9/16/02 (3:31 pm est)

The market gave traders the opportunity to enter long positions this morning at 886 and again at 880.  The rally up to 892 is considered a double top to the high made this morning at 891.20 and should be considered a sell signal for long positions to exit and take profits.

Results:    9/16/02

Bought @ 886        Sold @ 892         = + $1,500.00
Bought @ 880        Sold @ 892         = + $3,000.00
TOTAL (P & L)                                     + $4,500.00
 
        thetechguru.com 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 09-17-02 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area. 
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the Dec. contract -
895.50 and 895.70 peaks also 898.50 and 899.50 peaks (major area) / 903 day top to 906.30 day gap (major area) / 911.20 day session close also 912.20 weekly channel (very major area) / 916 day channel and 916.40 weekly and monthly close (very major area) / 925 weekly channel and 926.50 major day channel also 927 weekly top and 927.20 minor weekly channel (very major area) / 928.50 and 929 day tops (major area) / 933.50 day channel and 936.90 day gap (very major area) / 945 minor weekly channel also 946.50 and 947 minor day channels (very major area) / 950 minor day channel (major).
 
Support:  For the Dec. contract -
892 and 891.50 intra-day channels also 889.80 base and rev. peak (major area) / 887.50 intra-day channel also 884.70 and 883.80 base (major area) / 881.50 major day channel and 881.50 intra-day gap also 880.70 base and 880 minor day channel (very major area) / 878.60 bottom and 878 minor day channel also 876.50 weekly bottom and 876 weekly GBX bottom (major area) / 869.50 and 869 weekly bottoms also 865 and 864.70 weekly closes (very major area) / 860.80 day session close / 854 and 851 bottoms also 853.70 weekly closing price (very major area) / 844 weekly closing price (very major area) / 833.50 day gap and 831.20 and 832 weekly bottoms also 828.50 GBX weekly bottom (very major area).
 
Comments:  
    The market continued to hold the major support on Monday proving for the second day the significance of the area.  The market also managed to close up for the second day in a row leaving the chart neutral to slightly bullish and very supportive for higher prices to develop.  The overnight GBX session for Tuesday managed to trade up to the major resistance at 916.  A trade above 916 is bullish but will face the test to break through the 927 major area.  A trade above 927 will be considered a breakout for higher prices.  A trade today below 881.50 - 878 area will fail the major support for lower prices to follow.  Remain defensive inside the wide neutral area between 916 and 883.80.
                                                                           
Day trades:  For the Dec. contract -
 
Aggressive traders can sell rallies near 912 - 916 area for obj. near 906 - 903 area.  (Use a buy stop and rev. long at 919).
 
Aggressive trader can sell rallies near 924 - 927 area for obj. near 916 - 913 and possibly near 909.  (Use a buy stop and rev. long at 931.50).
 
If the market opens above 903, aggressive traders can buy dips near 898 - 895 area for obj. near 903 - 906 area.  (Use a protective sell stop at 893.50.  Do not rev. short).
 
Aggressive traders can buy dips near 883 - 881.50 area, if it gets there, for obj. near 891 - 893 area.  (Use a sell stop and rev. short at 874).
 
Buy stop at 919 for obj. near 924 and possibly near 927.
Buy stop at 931.50 for obj. near 933.50 - 936.90 area.
 
Sell stop at 874 for obj. near 870 - 869 area and possibly near 865.
Sell stop at 859.50 for obj. near 855 - 854 area and possibly near 851.
 
Long-term positions traders holding long positions can look for obj. near 903 - 906 area and possibly near 910 - 912 area.  (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 9/17/02 (10:06 am est)

The sell-off down to the 893.50 sell stop was hit but at this time the chart formation appears supportive and still worthy of long positions. 

Aggressive traders can re-enter the long positions near 893.50 - 894.50 area for obj. near 903 - 906.  (Use a protective sell stop at 889.  Do not rev. short).

Bulletin - Originally sent 9/17/02 (10:19 am est)

The 889 sell stop was hit but the condition still remains supportive for possible rallies.  As recommended in the first aggressive trade to buy near 889 - 886 and near 884 if possible will remain as an open trade for long positions to be taken. 

It is recommended for traders to enter long positions at this time at the market.  The market is trading near 887.50 at this time.  Additional long positions can still be taken near 883 - 880 level.  Continue to use a sell stop and rev. short at 874.

Bulletin - Originally sent 9/17/02 (3:46 pm est)

The sell-off to 874 put traders into short positions.  The 869 is a very major support and can stimulate rallies.  The congestion formation is now proving support making the short position risky.  It is recommended for traders to exit near the 874 - 873 area and scratch the trade before losses occur.

Results:    9/17/02

Bought @ 869.50        Sold @ 893.50         = -  $   750.00
Bought @ 894             Sold @ 889              = -  $1,250.00           (as per bulletin)
Bought @ 888.50        Sold @ 874              = -  $3,625.00  
Sold @ 874                Bought @ 873           = + $  250.00            (as per bulletin)
TOTAL (P & L)                                               -  $5,375.00
Long-term positions bought @ 885 from 9/12/02 sold @ 905    = + $5,000.00
 
        thetechguru.com 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 09-18-02 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area. 
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the Dec. contract -
874.60 peak and 877 intra-day channel (major area) / 881 intra-day channel also 883, 884 and 885.50 peaks (major area) / 888.50 peak (major area) / 891 peak and 893 day session closing price (major area) / 899 peak and 900 newly developed day channel (very major area) / 905.50 day top and 906.30 day gap (major area) / 913.50 day channel and 916 GBX top (very major area) / 924.50 major day channel also 925 weekly channel (very major area) / 927 weekly top and 927.20 minor weekly channel also 928.50 and 929 day tops (very major area).
 
Support:  For the Dec. contract -
869.50 and 869 weekly bottoms (very major area) / 865 and 864.70 weekly closes (very major area) / 860.80 day session close (major area) / 854 and 851 bottoms also 853.70 weekly closing price (very major area) / 844 weekly closing price (very major area) / 833.50 day gap also 832 and 831.20 weekly bottoms (very major area) / 828.50 GBX weekly bottom (major area) / 819.80 day session closing price and 814 bottom (very major area).
 
Comments:  
    The sell-off on Tuesday from the major resistance area brought prices down below the major channel support lines and slightly bearish, facing the 869 bottom and 864.70 weekly closing price as the last support in this neutral area.  A trade below the 864.70 - 860.80 area will be considered a technical failure for lower prices to develop.  Only a trade above 900 can bring any solid bullishness back to the chart and can bring prices up to challenge the 913.50 - 916 area again.  A this time only a trade above 927 can bring the uptrend back into play.  NOTE:  The sell-off on Tuesday is the second time the market is challenging the major 50% retracement area between the 966 top and 773 bottom.  If this area fails to hold support, prices can sell-off down near the 833.50 gap area and can possibly challenge the contract low at 773.  Remain very defensive in this critically neutral retracement area.
                                                                               
Day trades:  For the Dec. contract -
 
Aggressive traders can buy dips near 865 - 861 area and sell rallies near 869 - 873 area, whichever side comes first to complete the trade.  (Use a sell stop and rev. short at 859.80).  (Use a buy stop and rev. long at 877.70).
 
Aggressive traders can sell rallies near 897 - 900 area for obj. near 893 - 891 area.  (Use a buy stop and rev. long at 903).
 
Buy stop at 877.70 for obj. near 881 - 883 area and possibly near 885.
Buy stop at 893.70 for obj. near 897 - 900 area.
Buy stop at 903 for obj. near 906.30 gap and possibly near 909.
 
Sell stop at 859.80 for obj. near 855.50 - 853.70 area and possibly near 851.
Sell stop at 849 for obj. near 845 - 844 area.
Sell stop at 840 for obj. near 835 - 833.50 gap and possibly near 832.
 

* 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 9/18/02 (11:30 am est)

The sell stop at 859.80 was hit putting traders into short positions.  The performance of the market in this area is showing signs of technical support. 

It is recommended for traders to exit the short positions taken near the 860 and scratch the trade.

Bulletin - Originally sent 9/18/02 (3:16 pm est)

The rally hit the buy stop at 877.70 and did not meet the obj. near 881 - 883 area.  The rally seems to be a little too high, too fast and is now subject to some retracements.  It is recommended for traders to exit the long position taken at 877.70 and scratch the trade.

Results:    9/18/02

Bought @ 863.50        Sold @ 869         = + $1,375.00
Sold @ 859.80            Bought @ 860     = -  $     50.00        (bought as per bulletin)
Bought @ 877.70        Sold @ 877          = -  $   175.00  
TOTAL (P & L)                                          + $1,150.00
 
        thetechguru.com 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Thursday 09-19-02 :  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:  For the Dec. contract -
863.80 intra-day channel and day session close also 864.50 peak (major area) / 868.20 intra-day gap and 870 peak (major area) / 875.70 and 877 intra-day channel also 877.30 peak and 879 day top (very major area) / 883, 884 and 885.50 intra-day peaks (major area) / 888.50 and 891 peaks including congestion closing prices (major area) / 894.50 day channel (very major area) / 905.50 weekly top to 906.30 day gap (major area) / 910.50 day channel (very major area) / 916 GBX top (major) / 922.50 major day channel (very major area).
 
Support:  For the Dec. contract -
859 newly developed major day channel and 858 minor day channel also 856.80 bottom (very major area) / 854 and 851 day bottom also 853.70 weekly closing price and 852.50 rev. channel (very major area) / 846.10 and 843.60 minor down channels also 844 weekly closing price (very major area) / 833.50 day session gap also 832 and 831.20 weekly bottoms (very major area) / 828.50 GBX weekly bottom (major) / 819.80 day session closing price (major) / 814 day bottom (very major area) / 796.60 lowest day session closing price before contract low (very major area).
 
Comments:  
    The second day of sell-off's on Wednesday brought prices down below the 865 - 860.80 support area which is bearish but managed to close above 860.80 leaving the chart neutral to bearish.  A trade below 859 - 858 and 856.80 bottom area is bearish for prices to challenge the 853.70 and 844 support areas.  A trade below 843.60 will confirm a technical failure for prices to possibly reach the 833.50 gap area and can also challenge contract lows.  NOTE:  Even with the neutral to bearish condition, technically the market remains in a very critical area where support in this area can develop for higher prices.  A trade above 868 - 870 is slightly bullish but a trade above 877 - 879 area can stimulate buying for possible rallies up near 894 area.  A trade above 894 will be considered a breakout for prices to challenge the 910 - 916 area again.  Remain defensive but look for support areas as a low risk buying area until the market can prove to fail and trade below the 843.60 level.
                                                                                   
Day trades:  For the Dec. contract -
 
If the market opens below 856 - Aggressive traders can buy dips near 855 - 852.50 area for obj. near 863 and possibly near 867.  (Use a sell stop and rev. short at 849.80). 
 
If the market opens above 860 - Aggressive traders can buy near 860 - 858 area for obj. near 863 - 867.  (Use a sell stop at 849.80). 
 
Aggressive traders can buy dips near 846.50 - 844 area for obj. near 850 - 852 area.  (Use a sell stop and rev. short at 840.50). 
Aggressive traders can sell rallies near 867 - 869 area for obj. near 864 - 863 area.  (Use a buy stop and rev. long at 871.20). 
Aggressive traders can sell rallies near 891 - 894, if it gets there, for obj. near 887 - 885 area.  (Use a buy stop and rev. long at 897). 
 
Buy stop at 871.20 for obj. near 875 - 877 area.
Buy stop at 880 for obj. near 883 - 884 area and possibly near 885.50.
Buy stop at 886.70 for obj. near 888.50 - 891 area and possibly near 894.
Buy stop at 897 for obj. near 906.90 day gap area and possibly near 910.
 
Sell stop at 856 for obj. near 854 - 853.70 area and possibly near 852.
Sell stop at 849.80 for obj. near 846.50 and possibly near 844 area.
Sell stop at 840.50 for obj. near 835 - 833.50 area and possibly near 832.
 

* 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 9/19/02 (9:37 am est)

NOTE:  Position traders entering long positions today at the 855 - 852.50 area can hold overnight for obj. near 891 - 894 area and possibly higher.

Bulletin - Originally sent 9/19/02 (12:26 pm est)

The rally up to the 862 - 861 is considered a double top and a signal for long positions to exit and take profits.

Bulletin - Originally sent 9/19/02 (3:37 pm est)

The buy at 846 was completed with the rally at 850.  The market is showing signs of bearishness at this time, so it is recommended not to repeat this buy area again.

Results:    9/19/02

Bought @ 853.50        Sold @ 861           = + $1,875.00
Sold @ 856                Bought @ 854        = + $  500.00        
Sold @ 849.80            Bought @ 846.50   = + $  825.00        
Bought @ 846            Sold @ 850            = +  $1,000.00  
TOTAL (P & L)                                            + $4,200.00
 
        thetechguru.com 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Friday 09-20-02 :  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:  For the Dec. contract -
845 minor day channel (major) / 848, 848.50 and 850.50 intra day channels also 850.50 peak (major area) / 856 and 858.20 peaks also 859 intra-day channel (very major area) / 862 day top and 863.70 GBX top also 863.80 day gap (major area) / 869 rev. base and 872.50 day session closing price (major area) / 879 day top (major) / 889.50 day channel and 891.20 weekly closing price (very major area).
 
Support:  For the Dec. contract -
839 newly developed down channel (major) / 833.50 day session gap also 832 and 831.20 weekly bottoms (very major area) / 828.50 GBX weekly bottom (major) / 819.80 day session closing price (major) / 814 day bottom (very major area) / 796.60 lowest day session closing price before contract low (very major area) / 774 Dec. bottom and 773 weekly chart bottom (very major area).
 
Comments:  
    The sell-off on Thursday for the third day in a row brought prices down near a very major bottom and gap area at 833.50 - 832 area, which could stimulate some buying.  A trade below the 832 - 828.50 area will be considered a technical failure that can bring prices down to challenge the 814 and 774 - 773 bottom area.  The sell-off over the past three days put the chart in an oversold condition, which can also add to a likely retracement to the upside.  A trade above the 848 - 850.50 area can be considered slightly bullish but only a trade above 856 - 859 area can remove the bearishness from the chart for prices to challenge up near the 889 - 891 area again.  At this time, only a trade above 891 can bring any solid bullishness back to the chart.  Remain aggressive in this very critical bottom support area.  Buying dips for potential rallies can payoff.
                                                                                       
Day trades:  For the Dec. contract -
 
Aggressive traders can attempt long positions near 844 - 842 area for obj. near 848 - 850.  (Use a sell stop and rev. short at 838).
 
Aggressive traders can sell rallies near 848 - 850 area for obj. near 844 - 842 area.  (Use a buy stop and rev. long at 852).
 
Aggressive traders can attempt long positions near 835 - 832 area for obj. near 839 - 842 area and possibly near 844.  (Use a sell stop and rev. short at 825.50).
 
Aggressive traders can attempt short positions near 859, if it gets there, for obj. near 854 and possibly near 851 area.  (Use a buy stop and rev. long at 865).
 
Buy stop at 852 for obj. near 856 - 859 area.
Buy stop at 865 for obj. near 869 - 872 area.
Buy stop at 881.50 for obj. near 885 - 889 area.
 
Sell stop at 838 for obj. near 835 - 832 area.
Sell stop at 825.50 for obj. near 820.50 - 819.50 area and possibly near 814 bottom.
Sell stop at 807 for obj. near 800 - 796 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 9/20/02 (9:46 am est)

The double bottom at 845 was considered support where long positions were taken instead of the 844 area.  The rally up to 848 - 849.30 completed the trade.  

Short positions were taken at 849 for an obj. near 845 - 844 area.  Since there is enough of support in this area, the buy at 844 - 842 can be repeated again.

Bulletin - Originally sent 9/20/02 (10:32 am est)

The rally up to the 847.20 area completes the long position taken at 843.

Results:    9/20/02

Bought @ 845        Sold @ 848           = + $   750.00
Sold @ 848             Bought @ 845      = + $   750.00        
Bought @ 843        Sold @ 847           = + $1,000.00
TOTAL (P & L)                                       + $2,500.00
The week in review - 9/23/02 - 9/27/02
The Tech Guru's S & P Day Trading Recommendations
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Monday 09-23-02 :  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:  For the Dec. contract -
844.50 intra-day gap (major) / 848 intra-day channel also 849 peak and 849.30 day channel and 850.90 GBX top (major area) / 856 intra-day peak (major) / 862 day top and 863.80 day gap (major area) / 869 rev. base and 872.50 day session closing price (major area) / 879 day top (major) / 884 day channel (very major area) / 891.20 weekly closing price (very major area) / 902.50 weekly channel also 905 minor weekly channel and 905.50 GBX channel and weekly top (very major area).
 
Support:  For the Dec. contract -
840 newly developed day channel and 838.20 bottom (major) / 836.60 rev. channel and 835.10 minor down channel (major area) / 833.50 day session gap also 832 weekly bottom and 831.20 monthly bottom (very major area) / 828.50 GBX weekly bottom (very major area) / 819.80 day session closing price (major) / 814 day bottom (very major area) / 796.60 lowest day session closing price (very major area) / 780.20 monthly channel (very major area) / 774 Dec. contract weekly bottom also 773 monthly bottom (very major area) / 727.60 major monthly upper channel (very major).
 
Comments:  
    The whiplashing action and close on Friday brought a neutral condition to the chart but the weekly settling price of 842.20 was below the lowest weekly close of 844 leaving the chart in neutral to slightly bearish condition.  Technically, the market is still in a very critical support area but needs to develop addition base formation for higher prices to follow.  A trade below 836.60 - 835.10 area and again below the 831.20 - 828.50 area will fail the major supports for lower prices to follow and can challenging the 814 and 773 bottoms.  A trade today above 848 - 849.30 area and 851 is slightly bullish but a trade above 856 can prove the significance of this major support area and can possibly bring prices up near the 884 area.  A trade above 884 will bring the bullishness back to the chart for prices to challenge the 991 - 902 major resistance area.  Continue to remain aggressive, buying dips near support levels, taking profits, until the market fails to hold the 932 - 928.50 major support area.
   
Day trades:  For the Dec. contract -
 
If the market opens below 840 - Aggressive traders can buy dips near 837 - 835.50 area and if possible near 828.50 gap for obj. near 840 - 842 area and possibly near 844.  (Use a sell stop and rev. short at 825.50).
 
If the market opens above 840 - Aggressive traders can buy dips near 840 for obj. near 844 - 847 area.  (Use a Protective sell stop at 837.80.  Do not rev. short).
 
Aggressive traders can sell rallies near 847 and if possible near 849 for obj. near 844 - 842 area.  (Use a buy stop and rev. long at 852).
 
Sell stop at 825.50 for obj. near 820.50 - 819.50 area.
Sell stop at 818 for obj. near 815 - 812 area.
Sell stop at 807 for obj. near 800 - 796 area.
 
Buy stop at 852 for obj. near 856 and possibly near 859 area.
Buy stop at 865.20 for obj. near 869 and possibly near 872. 
 

* 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 9/23/02 (11:24 am est)

The market hit the 825.50 sell stop putting traders into short positions.  The performance has been technically supportive after the sell stop was hit.  A trade above 832 will be considered a confirmation of technical support for possible higher prices.  Traders can use a protective buy stop at 832.50 to protect short positions. 

Results:    9/23/02

Bought @ 833.50        Sold @ 825.50         = -  $2,000.00
Sold @ 825.50            Bought @ 832.50     = -  $1,750.00       (buy stop as per bulletin)
TOTAL (P & L)                                              -  $3,750.00
 
    thetechguru.com 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Tuesday 09-24-02 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area. 
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the Dec. contract -
837 intra-day channel and 837.10 GBX channel also 838 day top and 838.20 rev. base (major area) / 842.20 weekly gap and 842.70 minor day channel with GBX prices (major area) / 846 GBX top and 849.30 day top (very major area) / 856.20 rev. base (major) / 862 day top and 863.80 day gap also 863.70 GBX top (very major area) / 869 rev. base and 872.50 day session close (major area) / 879 day top and 879 day channel (very major area).
 
Support:  For the Dec. contract -
832.50 base and 831.50 rev. peak (major area) / 826 base and 824.50 day bottom (very major area) / 820.80 down channel and 819.80 day session closing price (major area) / 816.10 minor down channel and 814 day bottom (very major area) / 796.60 lowest day session closing price (very major area) / 780.20 monthly channel (very major area) / 774 Dec. contract weekly bottom also 773 monthly bottom (very major area).
 
Comments:  
        The sell-off on Monday below the 828.50 GBX bottom was bearish but the close on Monday remained above the 833.50 trading gap leaving the chart neutral to bearish.  A trade below the 816.10 - 814 area will fail the major support for lower prices to possibly challenge the 796 and 773 bottom area again.  A trade above 837 and 842.70 areas can bring some positive signs of a possible retracement to the upside but only a trade and close above 865 could bring any solid bullishness back to the chart.  Remain defensive inside the 837 - 816.10 neutral trading area.  Today's trading range and closing price can possibly be a deciding factor in the overall direction.
 
Day trades:  For the Dec. contract -
 
Very aggressive traders can buy dips near 817 - 814 area for obj. near 824 - 827 area and possibly near 829.  (Use a sell stop and rev. short at 811).
 
Aggressive traders can sell rallies near 836 - 837 area for obj. near 832.50 and possibly near 831.  (Use a protective buy stop at 838.70.  Do not rev. long).
 
Sell stop at 811 for obj. near 803 - 800 and possibly near 797.
Sell stop at 793 for obj. near 785 - 781 area.
 
Buy stop at 843.70 for obj. near 846 - 847 area and possibly near 849.
Buy stop at 852 for obj. near 856 area and possibly near 860.
 

* 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 9/24/02 (11:31 am est)

The market rallied from the 820.50 day session low, which did not give traders a chance to buy the 817 area.  Since the rally brought prices above the obj. of the first trade, it becomes a high risk to attempt the buy area at 817 - 814 at this time.  Traders can still attempt the buy at 817 - 814 area but must realize it is considered a very aggressive trade at this time and will not be included in the trading results for the end of the day. 

Bulletin - Originally sent 9/24/02 (12:40 pm est)

The sell-off down to the 818.50 area is considered a double bottom to this mornings low where long positions were taken on the very aggressive trade.  At this time, long positions can be considered and results will be posted.  The chart formation appears to be supportive enough for possible rallies to the upside.  The obj. for long positions is near 827 and possibly 830.  (Use a sell stop and rev. short at 811).

Bulletin - Originally sent 9/24/02 (1:32 pm est)

Long positions were taken at 819.50 as per bulletin.  The rally up to 826 is near enough to the 827 obj. for traders to consider taking profits. 

Results:    9/24/02

Bought @ 819.50        Sold @ 826         = + $1,625.00
TOTAL (P & L)                                          + $1,625.00
 
    thetechguru.com 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For Wednesday 09-25-02 :  NOTE:  After each support and resistance listed will designate a value - (very major) holds the highest importance, then (major), (very significant), and (significant) is the least of value.  Very aggressive trades - are trades that are against the trend or a high dollar risk when wide stops are used. "The Golden Rule" - Do not use a buy stop inside a sell area or a sell stop inside a buy area. 
Special instructions for using stops - All stops listed are for the day session only.  Where stops ARE NOT mentioned, they should be placed below the second support area listed or above the second resistance area listed, or 22 points from the (trade entry point), whichever is the lesser amount.  NOTE:  The first support area becomes the resistance after the market trades through the second support area listed.  The first resistance area becomes the support after the market trades through the second resistance area listed.
Resistance:  For the Dec. contract -