|
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.
To subscribe to the S & P day trade
recommendations click here:
or call (540) 843-GURU (4878)
The
week in review - 10/14/02 - 10/18/02
The Tech Guru's S & P Day
Trading Recommendations
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S & P
- For Monday
10-14-02 : NOTE: After
each support and resistance listed will designate a value -
(very major) holds the highest importance, then (major), (very
significant), and (significant) is of the least value. Very
aggressive trades - are trades that are against
the trend or a high dollar risk when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell stop inside
a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter or
complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where stops
ARE NOT mentioned, they should be placed below the
second support area listed or above the second
resistance area listed, or 22 points from the (trade entry
point), whichever is the lesser amount. NOTE: The
first support area becomes the resistance after the
market trades through the second support area
listed. The first resistance area becomes the support
after the market trades through the second
resistance area listed.
Resistance:
For the Dec. contract -
839, 839.50 and
840 peaks also 840, 840.50 and 841 newly developed day channels
also 842 and 842.50 minor channels (very
major area) /844 day top (major) / 846
and 848 minor day channels (major area) / 852.20
day top to 854.10 day gap also 854.50 weekly top
(very major area) / 856.80
rev. base and 857 weekly top (very
major area) / 862 day top to
863.80 day gap and 862.30 weekly channel also 863.70 GBX top and
864 major day channel (very
major area) / 869 rev. base and 872.50 day session
closing price also 872 minor weekly channel (major area)
/ 879 day top and 881 major weekly channel
(very major area) / 886
major day channel and 891.10 weekly closing price (very
major area).
Support: For
the Dec. contract -
831 and 830.50 base area also 830
intra-day channel (major area) / 828
intra-day channel also 826 and 825 base (very
major area) / 822.50 intra-day channel (major)
/ 815 day bottom and monthly closing price
(very major area) /
809.80 and 807.50 rev. peaks also 805.80 weekly close (major
area) / 802.50 day gap and 799.10
GBX bottom (very major area)
/ 793.50 rev. peak (major).
Comments:
The rally and close
on Friday is considered a bullish key reversal because the
market made lower lows for the week and settled above the
last two weeks closes. This bullish move from last week can
possibly bring higher prices but the market faces very major
resistance at 839 - 842 area and again at 852 - 857 area and also
at 862.30 that can prevent significant rallies to develop until a
solid base formation is seen. The overbought condition can
stimulate retracements to the down side with whiplashing to both
sides of the 862 - 802 wide neutral range before a worthy support
can develop. NOTE: A
trade above 862.30 area will be considered a breakout for prices
to challenge the 886 - 891 area but technically, only a trade
above 940 will confirm a solid reversal of the major trend to the
upside. A trade today below the 828 - 825 area is slightly
bearish and a trade below 815 can bring prices down to the 802 gap
area and possibly challenge the 793.50 support. Only a trade
below 786 can bring any solid bearishness back to the chart.
Remain defensive inside the 862 - 802 wide trading range.
Day trades:
For the Dec. contract -
Aggressive traders can buy
dips near 830 - 828 area and if possible near 826 for obj. near
835 and possibly near 839. (Use a sell stop and rev. short
at 822).
Aggressive traders sell
rallies near 839 - 842 area for obj. near 835 - 833.50 area.
(Use a buy stop and rev. long at 844.20)
Sell stop at 822 for
obj. near 819 - 817 area.
Sell stop at 812 for
obj. near 810 - 807.50 and possibly near 805.80 area.
Aggressive traders can attempt
long positions near 805 - 802 area for obj. near 812 -
815 area. (Use a protective sell stop at 796. Do not
rev. short).
Buy stop at 844.20
for obj. near 846 - 848 area.
Buy stop at 849.20
for obj. near 852 - 854.10 gap.
Buy stop at 858.70
for obj. near 862 area.
Buy stop at 866 for
obj. 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 prior to the morning report: 10/14/02 (9:30 am
est)
Aggressive traders can buy
dips near 830 - 828 area and if possible near 826 for an obj. near 835
and possibly near 839. Use a sell stop and rev. short at 822.
Bulletin -
Originally sent 10/14/02 (9:47 am est)
Long positions were taken from the bulletin
this morning at 828.50. The rally up to 833.50 seems to be showing
resistance and therefore it is recommended for long positions to exit and
take profits. The market is trading at 832.50 at this time.
Bulletin -
Originally sent 10/14/02 (10:10 am est)
The rally to 838.50 put traders into short
positions. The sell-off down to 835 meets the obj. and completes
the trade. Traders who attempt to repeat this trade should realize
it is now considered a very aggressive trade.
Bulletin - Originally
sent 10/14/02 (1:07 pm est)
The rally to 844.20 put traders into
long positions. The market is showing signs of resistance at
this area. It is recommended for traders to exit the long
position near 841 and cut losses.
Results:
10/14/02
| Bought @
828.50 Sold @ 832.50
= + $1,000.00 |
| Sold @
838.50
Bought @ 835 =
+
$ 875.00 |
| Sold @
841
Bought @ 834
= + $1,750.00 (second attempt /
very aggressive trade) |
| Bought @
844.20 Sold @
841
= - $ 800.00
|
| TOTAL
(P & L)
+ $2,825.00 |
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Tuesday
10-15-02 : NOTE: After
each support and resistance listed will designate a
value - (very major) holds the highest importance, then
(major), (very significant), and (significant) is of the
least value. Very
aggressive trades - are trades that are
against the trend or a high dollar risk when wide stops
are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell
stop inside a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to
enter or complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where
stops ARE NOT mentioned, they should be placed below
the second support area listed or above
the second resistance area listed, or 22 points from
the (trade entry point), whichever is the
lesser amount. NOTE: The
first support area becomes the resistance
after the market trades through the second
support area listed. The first resistance
area becomes the support after the market trades
through the second resistance area
listed.
Resistance:
For the Dec. contract -
844
minor day channel and 845 day top also 845 and 847 minor
day channels (very
major area) / 852.20
day top to 854.10 day gap also 854.50 weekly top (very
major area) / 857
weekly top (very
major) / 861.50 day
channel also 862 day top to 863.80 day gap and 862.30
weekly channel also 863.70 GBX top (very
major area) / 869
rev. base and 872.50 day session closing price also 872
minor weekly channel (very
major area) / 879
day top and 881 major weekly channel (very
major area) / 884
major day channel (very
major area) / 891.10
weekly closing price (very
major area).
Support: For
the Dec. contract -
840.20 newly developed upper
channel (major) / 837.50 intra-day
channel and 835 base (major area) /
832.50 base (major) / 827.60
bottom also 826 and 825 base (very
major area) / 815
day session bottom (very
major) / 809.80 and 807.50 rev. peaks and
805.80 weekly close (major area) / 802.50
day gap and 799.10 GBX bottom (very
major area) / 793 rev. peak (major).
Comments:
The
whiplashing action on Monday came to no surprise
and managed to develop a significant base formation that
can stimulate rallies. A trade above 847 is bullish but
a trade above 862.30 - 863.80 area will be considered a
breakout above the first weekly channel and can bring
prices up to challenge the 872 and 881 weekly channels.
The 881 channel can prove to be significant enough to hold
back further rallies for a while. A trade below
840.20 - 837.50 area is slightly bearish but a trade below
827.60 - 825 area can bring prices down to challenge the
802.50 gap area, which can be considered a solid support
and a good buying area.
Day
trades: For the Dec. contract -
If
the market opens above 862 or trades above at anytime
during the day - Aggressive traders can sell
rallies near 869 - 872 area for obj. near 863 and
possibly near 860. (Use a buy stop and rev. long at
875).
If
the market opens above 857 but below 862 -
Aggressive traders can sell rallies near 862 -
863 area for obj. near 857 and possibly near 854 area.
(Use a protective buy stop at 866. Do not rev.
long).
If the market opens
above 857 traders can use a sell stop at 852 to
enter into a short position for obj. near 847 and possibly
near 845. (Use a protective buy stop at 866.
Do not rev. long).
Aggressive traders can
buy dips near 840.50 - 838 area for obj. near 844
and possibly near 846. (Use a protective sell stop
at 833. Do not rev. short).
Aggressive traders can
attempt long positions near 828 - 826 area, if it
gets there, for obj. near 835 and possibly near 838 area.
(Use a sell stop and rev. short at 822).
Buy stop at
875 for obj. near 877.50 - 879 area and possibly near 881.
Sell stop at
822 for obj. near 817 and possibly near 815 bottom area.
|
*
There is a substantial risk of loss
in trading futures and options.
These recommendations cannot
guarantee a profit. Placing
contingent orders such as "Stop
Loss" or "Stop Limit"
orders will not necessarily limit
your losses to the intended amounts, since
market conditions may make it
impossible to execute such orders.
|
Results:
10/15/02
| Sold
@ 870
Bought @ 875
= - $1,250.00 |
| Bought
@ 875
Sold @ 877.50
= + $ 625.00 |
| TOTAL
(P & L)
-
$ 625.00 |
A
TECHNICAL GUIDE FOR DAY TRADING THE S
& P
S
& P - For Wednesday
10-16-02 : NOTE: After
each support and resistance listed will
designate a value - (very major) holds the
highest importance, then (major), (very
significant), and (significant) is of the
least value. Very
aggressive trades - are trades
that are against the trend or a high dollar
risk when wide stops are used. "The
Golden Rule"
- Do not use a buy stop
inside a sell area or a sell stop inside
a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any
trade to enter or complete a trade.
Special
instructions for using stops -
All stops
listed are for the day session only.
Where stops ARE NOT mentioned, they should
be placed below the second support
area listed or above the second
resistance area listed, or 22 points from
the (trade entry point), whichever is
the lesser amount. NOTE: The
first support area becomes the resistance
after the market trades through the second
support area listed. The first
resistance area becomes the support
after the market trades through the second
resistance area listed.
Resistance:
For the Dec. contract -
885.50 and 888.70
peaks from 9/17/02 (major area)
/ 891.20 weekly closing
price (very
major area) / 894.60
weekly closing price and 896.70 day channel and
weekly channel (very
major area) / 905.50 day top and
906.30 day gap (major area) / 916
GBX weekly top (very
major area) / 926
and 928.90 weekly channels also 927 weekly top
and 928.50 day top also 825, 826.50 and 829 day
channels (very
major area) / 831.50 day channel
(major).
Support: For
the Dec. contract -
872 congestion base (major
area) / 867.50
and 867 base area also 865.50 day bottom and 865
intra-day channel (very
major area) / 859 rev. channel
and 857 rev. peak (major area)
/ 852.80 day channel
(very major area) / 846
rev. channel and 845 rev. peak (major
area) / 841.50
day gap and 838.50 weekly closing price (very
major area) / 835.50 and 832.50
base areas (major area) / 827.60
weekly bottom (very
major area).
Comments:
The rally on Tuesday brought prices up to the
very major resistance at 881 - 884 area,
which can possibly hold back rallies for a
while. A trade above 884 can bring prices
up to challenge the 991.20 - 996 resistance
area. A trade above 996.70 will be
considered a breakout for higher prices to
follow. A trade today below 865 is
slightly bearish and can bring prices down near
the 857 area and challenge the 852.80 area
and possibly near the 845 - 841.50 gap area.
A trade below 838.50 - 835 area is bearish and
can possibly bring prices down to challenge the
815 - 802.50 gap area. Remain defensive.
Retracements to the down side can develop as
easily as rallies inside the wide trading range
between 896 - 845 area.
Day
trades: For the Dec. contract -
Aggressive
traders can buy dips near 872 - 867
area for obj. near 878 - 880 area. (Use a
sell stop and rev. short at 863).
Aggressive
traders can sell rallies near 891 - 895
area for obj. near 887 - 886 area. (Use a
buy stop and rev. long at 899.70).
Buy
stop at 886.50 for obj.
near 889 - 891 area and possibly near 895.
Buy
stop at 899.70 for obj. near 905 - 906.30 gap
area.
Sell
stop at 863 for obj. near 859 - 858 area.
Sell
stop at 856 for obj. near 853 and possibly near
852.
Sell
stop at 849 for obj. near 846 - 844 area and
possibly near 841.50 gap 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 10/16/02 (10:03 am est)
Long positions were
taken at 870. The rally up to 874.50 and then after dropping
down to the buy area again rallied back up to 874 creating a
double top and resistance. It is recommended for traders to
exit long positions and take profits. the market is trading
at 873 at this time.
Bulletin
- Originally sent 10/16/02 (10:03 am est)
The sell stop was hit
at 863 putting traders into short positions. The chart
formation now has a technical double bottom at 862.50 and 863.50
that is a sign of support.
It is recommended for
traders to exit the short position near the 864 area and scratch
the trade.
Bulletin
- Originally sent 10/16/02 (2:13 pm est)
The market hit the
856 sell stop putting traders into short positions. The
market appears to be gaining support even though it is trending
to the downside. Because of the slow pace, the market is
now subject to creating support for fast rallies to the upside.
It is recommended
for traders to exit the short position near 857 and scratch the
trade.
Results:
10/16/02
| Bought
@ 870
Sold @ 873
= + $ 750.00 |
| Sold
@ 863
Bought @ 864
= - $ 250.00 |
| Sold
@ 856
Bought @ 857
= - $ 250.00 |
| TOTAL
(P & L) +
$ 250.00 |
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Thursday
10-17-02 : NOTE: After
each support and resistance listed will designate a
value - (very major) holds the highest importance,
then (major), (very significant), and (significant) is
of the least value. Very
aggressive trades - are trades that
are against the trend or a high dollar risk when wide
stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell
stop inside a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to
enter or complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only.
Where stops ARE NOT mentioned, they should be placed
below the second support area listed or above
the second resistance area listed, or 22 points from
the (trade entry point), whichever is the
lesser amount. NOTE: The
first support area becomes the resistance
after the market trades through the second
support area listed. The first resistance
area becomes the support after the market
trades through the second resistance area
listed.
Resistance:
For the Dec. contract -
865 day channel and 866.50
intra-day channel also 867 peak (major area)
/ 874.50 day top (major) / 880
day channel and 882 minor day channel (very
major area) 884 day top and 884.80
GBX top (major area) / 891.20
weekly closing price (very
major area) / 894.60
weekly closing price and 894.70 major day channel also
896.70 major weekly channel (very
major area) / 905.50 day top and 906.30
day gap (major area) / 916
GBX weekly top (very
major area) / 924
minor day channel and 926 weekly channel (very
major area).
Support: For
the Dec. contract -
858 minor intra-day channel
also 856.80 base (major area) / 855.70
bottom and 854.50 rev. peak (very
major area) / 845.50 rev. channel and 845
rev. peak (major area) / 841.60
day gap and 838.50 weekly closing price (very
major area) / 835 and 832.50 intra-day
bases (major area) / 827.60
weekly bottom and 825.30 weekly settling price (very
major area) / 815
monthly close and 815 day bottom
(very major area).
Comments:
After the
sell-off and gap down on Wednesday from the major
resistance, the market managed to hold the first major
support which will prove to be critical in today's
session. A trade below 858 - 855.70 area can bring
prices down to challenge the 845 - 841.60 gap area but
only a trade below 832.50 and 825.30 areas will fail the
major support and can bring the downtrend back into play.
A trade today above 880 - 884 area is bullish and can
bring prices up near the 891.20 and 896.70 areas, which
can prove to be significant enough resistance to hold back
rallies for a while. A trade above 896.70 will be
considered a breakout for higher prices to follow.
The market still faces a wide trading range between 896.70
and 841.60. Remain very defensive until the
whiplashing neutrality is out of the chart and a
solid direction can be established.
Day trades:
For the Dec. contract -
If
the market opens below 880 - Aggressive traders can
sell rallies near 880 - 882 area for obj. near
875 and possibly near 870.50 area. (Use a buy stop
and rev. long at 887.70).
If
the market opens above 884 - Aggressive
traders can attempt short positions near 890 -
891 area and again if possible near 896 for obj. near 885
- 882 area and possibly near 879. (Use a buy stop
and rev. long at 899.70).
Buy
stop at 887.70 for obj. near 890 - 891 area.
Buy
stop at 899.70 for obj. near 905 - 906 area.
Buy
stop at 909.70 for obj. near 913 - 916 area and possibly
near 920.
If
the market opens above 875
traders can use a sell stop at 870 for obj. near 865 - 864
area.
Sell
stop at 851 for obj. near 847 - 845 area and possibly near
843.
Sell
stop at 831 for obj. near 828 - 826 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 10/17/02 (9:57 am est)
Traders - this
bulletin is to inform all traders that the buy stop at 887.50 is
not in play. It was to be used only if the market opened
below the 880 area as mentioned in the first trade. Any
traders in long positions should exit and scratch the
trade.
Aggressive traders
can attempt short positions near 882 - 884 area for obj. near
875 - 872 area. (Use a protective buy stop at 888.
Do not rev. long).
Bulletin
- Originally sent 10/17/02 (10:07 am est)
Short positions were
taken at 881.50. The sell-off down to 875.80 completes the
trade.
Bulletin
- Originally sent 10/16/02 (10:17 am est)
The sell area at
890 - 891 and if possible near 896 is still considered a
worthy trade. Continue to use a buy stop and rev. long
at 899.70.
Results:
10/17/02
| Sold
@ 881.50
Bought @ 876
= + $1,375.00 |
| TOTAL
(P & L)
+ $1,375.00 |
A TECHNICAL
GUIDE FOR DAY TRADING THE S & P
S
& P - For Friday
10-18-02 : NOTE: After
each support and resistance listed will designate
a value - (very major) holds the highest
importance, then (major), (very significant), and
(significant) is of the least value. Very
aggressive trades - are trades
that are against the trend or a high dollar risk
when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a
sell stop inside a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade
to enter or complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only.
Where stops ARE NOT mentioned, they should be
placed below the second support area
listed or above the second
resistance area listed, or 22 points from the (trade
entry point), whichever is the lesser
amount. NOTE: The
first support area becomes the resistance
after the market trades through the second
support area listed. The first
resistance area becomes the support after
the market trades through the second
resistance area listed.
Resistance:
For the Dec. contract -
879.80 peak and 880
intra-day channel (major area) / 883
peak (major) / 886.60
newly developed channel and 887 minor day channel also
888.50 day top and minor weekly channel (very
major area) / 891.20
weekly closing price and 893 day channel (very
major area) / 894.60
weekly closing price and 896.70 weekly channel (very
major area) / 905.50 day top and
906.30 day gap (major area) / 916
GBX weekly top (very
major area) / 923
and 924 minor day channels also 925.50 major day
channel and 926 weekly channel (very
major area).
Support: For
the Dec. contract -
879 minor upper day
channel (significant) / 877.20
intra-day channel also 877, 876.50 and 876 base area
and 875 bottom (very
major area) / 867 rev. peak (major)
/ 862.30 day gap (major) / 856.80
base and 855.70 day bottom also 854.50 rev. peak
(very major area)
/ 845 rev. channel and 845 rev. peak (major
area) / 841.60 day gap
and 838.50 weekly closing price (very
major area) / 835 and 832.50 intra-day
bases (major area).
Comments:
The
whiplashing action on Thursday at the major resistance
area can prove to be a signal of a temporary top
formation for possible retracements to the downside.
A trade below 867 today is slightly bearish but a
trade below the 856.80 - 854.50 area can bring prices
down to challenge the 845 - 841.60 gap area. A
trade today above 891.20 - 893 area is bullish and a
trade above 896.70 will be considered a breakout for
higher prices to follow. The 893 - 896.70
resistance can prove to be significant
enough to hold back rallies for a while.
Remain defensive inside the 893 - 867 neutral area.
The whiplashing action can continue until a breakout
is seen to either side of the neutral area.
Day trades:
For the Dec. contract -
Only If the market
opens above 882 but below 886 - Aggressive
traders can attempt short positions near
885 - 886 for obj. near 879 and possibly near 877.
(Use a protective buy stop at 887.70. Do not
rev. long).
If the market opens
below 879 - Aggressive traders can attempt
short positions near 879 - 880 area
and possibly near 881 for obj. near 877.30 and
possibly near 876.50 area. (Use a protective
buy stop at 883.70. Do not rev. long).
Aggressive traders
can sell rallies near 889 - 891 area and if
possible near 893 for obj. near 884 - 882 area.
(Use a buy stop and rev. long at 899.70).
Aggressive traders
can buy dips near 870 - 867 area for obj.
near 875 and possibly near 877. (Use a sell stop
and rev. short at 865.30).
Buy stop
at 899.70 for obj. near 904 - 906 area.
Buy stop
at 909.70 for obj. near 913 - 916 area.
Sell stop
at 865.30 for obj. near 862.30 - 860 area and possibly
near 858.
Sell stop
at 851 for obj. near 847 - 845 area and possibly near
843.60 - 841.60 gap 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 10/18/02 (9:38 am est)
Long positions
were taken at the 870.50 area for an obj. near 875 and
possibly near 877. Continue to use a sell stop and
rev. short at 865.30.
Bulletin
- Originally sent 10/18/02 (10:08 am est)
The rally up
to 874.50 completes the long position trade. The
sell off down to the 869 - 865.50 area is still considered
a buying area and long positions can be attempted.
The obj. for the second attempt is at 873 - 875 area.
Continue to use the sell stop and rev. short at 865.30.
Bulletin
- Originally sent 10/18/02 (10:21 am est)
Long
positions were taken at 868.50. The rally up to
873 now completes the trade for all long positions to
exit.
Bulletin
- Originally sent 10/18/02 (11:15 am est)
The
rally up to 887.50 can prove to be resistance
where short positions can be attempted. It
is recommended for traders to enter short
positions at the market. The market is
trading at 887 at this time. Continue to use
a stop and rev. long at 899.70.
Bulletin
- Originally sent 10/18/02 (11:32 am est)
Short positions
were taken at 887 as per bulletin. The sell off down
to 883 completes the trade.
Results:
10/18/02
| Bought
@ 870.50 Sold
@ 874.50 =
+ $1,000.00 |
| Bought
@ 868.50
Sold @ 873
= + $1,125.00 (as per
bulletin to repeat first trade) |
| Sold
@ 880
Bought
@ 883.70 = -
$ 925.00 |
| Sold
@ 887
Bought @ 883
= + $1,000.00 (as per
bulletin) |
| TOTAL
(P & L) +
$2,200.00 |
The
week in review - 10/21/02 - 10/25/02
The Tech Guru's S & P Day
Trading Recommendations
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S & P
- For Monday
10-21-02 : NOTE: After
each support and resistance listed will designate a value -
(very major) holds the highest importance, then (major), (very
significant), and (significant) is of the least value. Very
aggressive trades - are trades that are against
the trend or a high dollar risk when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell stop inside
a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter or
complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where stops
ARE NOT mentioned, they should be placed below the
second support area listed or above the second
resistance area listed, or 22 points from the (trade entry
point), whichever is the lesser amount. NOTE: The
first support area becomes the resistance after the
market trades through the second support area
listed. The first resistance area becomes the support
after the market trades through the second
resistance area listed.
Resistance:
For the Dec. contract -
884 intra-day channel also 884.50 and
885 peaks (major area) / 887.50
weekly top and 888 weekly channel also 889.50 GBX top (very
major area) / 891 day
channel and 891.20 weekly closing price (very
major area) / 894.60 weekly (major)
/ 905.50 day top to 906.30 day gap (major area) / 916
GBX weekly top (very major)
/ 921 minor weekly channel and 922 day
channel (very major area)
/ 927 weekly top and 929 minor day channel
(very major area) / 935
major weekly channel (very
major area).
Support: For
the Dec. contract -
881.80 newly developed upper channel
and 881.70 base also 880 intra-day channel and base (major
area) / 875.60 newly developed day channel also 877.50
and 876 base (major area) / 870.50
minor day channel (very major
area) / 865.50 day bottom (major)
/ 863.40 GBX bottom and 862.30 day gap
(very major area) / 855.70
bottom and 854.50 rev. peak (very
major area) / 845 rev. peak
and 841.60 day gap (very
major area) / 838.50 weekly
closing price (very major
area) / 835 and 832.50 intra-day base (major
area).
Comments:
On Friday, the
market remained inside the neutral trading range.
Technically, it has been building a possible top
formation, which can stimulate selling for retracements to lower
prices. A trade below 881.80 and 875.60 today is slightly
bearish but a trade below 870.50 can prove to be a failing signal
that can bring prices down near the 855.70 bottom and possibly
challenge the 845 - 841.60 gap area. The resistance at the
888 weekly channel can prove to be significant enough to hold back
rallies for a while. A trade above 888 and 891.20 this week
will be considered a breakout for higher prices to follow. Also
a trade above
935 will reverse the major trend to the upside. Remain
defensive inside the neutral range between 891 and 870. A
trade above or below this area can prove to point a direction.
Day trades:
For the Dec. contract -
Aggressive traders can sell rallies near 883 -
884 area for obj. near 877.50 and possibly near 876 - 875.60
area. NOTE: If
rallies continue before this trade is complete, then follow the
next aggressive trade and exit both short positions together at
the obj. or stop listed in that trade.
Aggressive traders can sell rallies near 887 -
888 area and if possible near 891 for obj. near 883 and possibly
near 882 - 880 area. (Use a buy stop and rev. long at
896).
Aggressive traders can attempt long positions
near 871.50 - 870.50 area for obj. near 875 - 878 area.
(Use a sell stop and rev. short at 869).
Buy stop at 896 for obj. near 901 - 903 area
and possibly near 905.
Buy stop at 909.70 for obj. near 913 - 916 area
and possibly near 920.
Sell stop at 869 for obj. near 866 - 865 area
and possibly near 862.30 gap area.
Sell stop at 860 for obj. near 856 - 855 area.
Sell stop at 850.50 for obj. near 846.50 - 845
area and possibly near 841.60 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 10/21/02 (10:14 am est)
The double bottom at 872.50 put traders into
long positions. The rally up to 875 completes the trade. This
trade can be attempted again but should be considered a higher risk than
the first attempt.
Bulletin - Originally
sent 10/21/02 (1:06 pm est)
The rally hit the buy stop at 896 putting
traders into long positions. The technical formation is beginning
to look top-heavy for a possible failure.
It is recommended for traders to exit the
long position and cut losses. The risk outweighs the reward.
The market is trading at 894 at this time.
Results:
10/21/02
|
Bought @ 872.50 Sold @
875 = + $
625.00 |
| Sold @
883
Bought @ 896
= - $3,250.00
|
| Sold
@ 888 Bought @
896 = - $2,000.00
|
| Bought @
896
Sold @ 894.50 = - $
375.00
|
| TOTAL
(P & L)
- $5,000.00 |
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Tuesday
10-22-02 : NOTE: After
each support and resistance listed will designate a value -
(very major) holds the highest importance, then (major),
(very significant), and (significant) is of the least value.
Very aggressive trades -
are trades that are against the trend or a high dollar risk
when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell stop
inside a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter
or complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where
stops ARE NOT mentioned, they should be placed below
the second support area listed or above the
second resistance area listed, or 22 points from the (trade
entry point), whichever is the lesser amount. NOTE: The
first support area becomes the resistance after
the market trades through the second support area
listed. The first resistance area becomes the support
after the market trades through the second
resistance area listed.
Resistance:
For the Dec. contract -
900 and 900.90 newly developed day
channels and 901.80 day top (major area) /
905.50 day top and 906.30 day gap (major area)
/ 916 GBX weekly channel and 916.40
monthly closing price (very
major area) / 921 minor
weekly channel and day channel (very
major area) / 927 weekly
top and 928 minor day channel (very
major area) / 935 major
weekly channel and 936.90 day gap (very
major area) / 941.20 weekly closing price (major)
/ 956.50 weekly top (very
major).
Support: For
the Dec. contract -
898 intra-day channel and 895.80
base (major area) / 892.90 and 892.80 double intra-day
base (major area) / 887.50
newly developed day channel and intra-day gap (very
major area) / 883.20 weekly close (major)
/ 879.50 minor day channel (major) / 875.30
minor day channel and 872.50 day bottom (very
major area) / 865.50 day bottom to 862.30 day
gap (major area) / 855.70
day bottom and 854.50 rev. peak (very
major area) / 845 rev.
peak to 841.60 day gap (very
major area).
Comments:
The rally on
Monday brought prices up to a very major resistance, which can
possibly stimulate some selling for some retracements to lower
prices. A trade above 901.80 can challenge the 905.50 to
906.30 gap area and possibly up near the 916 - 921 major
resistance. A trade above 921 is bullish and can bring
prices up near the 927 - 935 resistance. A trade above
935 will be considered a major breakout that can prove to
reverse the major trend to the upside. A trade today
below 887.50 is slightly bearish and can bring prices down to
challenge the 875.30 - 872.50 support area. A trade
below 875.30 - 872.50 area will fail a very major support that
can possibly bring prices down to challenge the 855.70 bottom
and possibly near the 845 - 841.60 gap area. Remain
defensive inside the 901 - 887.50 neutral area, which can
stimulate whiplashing to both sides before a solid direction
is seen.
Day trades:
For the Dec. contract -
Aggressive traders can buy dips near 889.50
- 887.50 area for obj. near 895 - 897 area. (Use a
sell stop and rev. short at 884.50).
Aggressive traders can attempt short positions
near 895 - 897 area and if possible near 899 - 900
area for obj. near 893 and possibly near 891 area.
(Use a buy stop and rev. long at 909.30) (Conservative
traders can use a protective buy stop at 903.20. Do
not rev. long).
Buy stop at 909.30 for obj. near 913 - 916
and possibly near 920.
Buy stop at 923.20 for obj. near 926 - 928
area.
Buy stop at 931.20 for obj. near 934 - 936
area.
Sell stop at 884.50 for obj. near 881.50 -
879.50 area and possibly near 876.
Sell stop at 869.50 for obj. near 865.50 -
862.30 gap area.
Sell stop at 851 for obj. near 847 - 845
area and possibly near 841.60 gap 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 10/22/02 (10:30 am est)
Long positions were taken at 887.
The rally up to 892.50 is showing some resistance for traders to
consider taking profits. Exit at the market. The market is
trading at 891 at this time.
Bulletin -
Originally
sent 10/22/02 (2:10 pm est)
Short positions were taken at the 884.50
stop. The sell off down to 882 seems to be supportive enough
for short positions to consider taking profits and exiting the
trade. The market is trading at 882.50 at this time.
Results:
10/22/02
| Bought @
887
Sold @ 891
= + $1,000.00
|
| Sold
@ 895 Bought @
892 = + $ 750.00
|
| Sold @
884.50
Bought @ 882.50 = + $ 500.00
|
| TOTAL
(P & L)
+ $2,250.00 |
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Wednesday
10-23-02 : NOTE: After
each support and resistance listed will designate a
value - (very major) holds the highest importance, then
(major), (very significant), and (significant) is of the
least value. Very
aggressive trades - are trades that are
against the trend or a high dollar risk when wide stops
are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell
stop inside a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to
enter or complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where
stops ARE NOT mentioned, they should be placed below
the second support area listed or above
the second resistance area listed, or 22 points from
the (trade entry point), whichever is the
lesser amount. NOTE: The
first support area becomes the resistance
after the market trades through the second
support area listed. The first resistance
area becomes the support after the market trades
through the second resistance area
listed.
Resistance:
For the Dec. contract -
892.50 peak (significant) /
896.50 day top and 897 GBX top (major) / 898.70
day gap also 899 and 900 day channels (very
major area) / 901.80 day top (major)
/ 905.50 day top to 906.30 day gap (major)
/ 916 GBX weekly top and 916.40
monthly closing price (very
major area) / 920
day channel and 921 minor weekly channel (very
major area) / 927
weekly top and 927 minor day channel (very
major area) / 935
major weekly channel and 936.90 day gap (very
major area) / 941.20 weekly closing price (major).
Support: For
the Dec. contract -
890.50 minor day channel (major)
/ 888 peak and 886.50 minor day channel (major
area) / 884 intra-day channel (major)
/ 881.50 day bottom and 880.20 minor
day channel (very
major area) / 872.50 day bottom (major)
/ 865.50 day bottom to 862.30 day gap (major area)
/ 855.70 day bottom and 854.50 rev.
peak (very major
area) / 845 rev.
peak to 841.60 day gap (very
major area).
Comments:
On Tuesday,
the whiplashing action to both sides of the neutral range
came to no surprise, leaving the chart again in a neutral
range between 899 to 880, which can still stimulate
whiplashing to both sides until a direction can be
established. A trade above 899 and 901.80 area can
bring prices up to fill the 906.30 day gap and possibly as
high as 921. A trade above 921 can bring prices up
to challenge the 927 weekly top and possibly the 935
weekly major channel. A trade above 935 will be
considered a breakout that can prove to reverse the major
trend to the upside. A trade today below 880.20 can
prove to be the beginning of a major retracement to the
downside for prices to reach down to the 855.70 bottom
area and possibly close the 841.60 gap area. Remain
defensive inside this neutral area between 899 and 880
until a breakout is seen to either side.
Day
trades: For the Dec. contract -
Aggressive traders can buy dips near
884 - 881.50 area and if possible near 880.50 for obj.
near 888 - 889.50 area and possibly near 890.50.
(Use a sell stop and rev. short at 877).
Aggressive traders can sell rallies
near 896 - 899 area for obj. near 892.50 - 890.50 area
and possibly near 889. (Use a buy stop and rev.
long at 909.30). (Conservative traders can use a
protective buy stop at 903.20. Do not rev. long).
Aggressive traders can sell rallies
near 916 - 920 area for obj. near 910 - 908 area and
possibly near 906. (Use a buy stop and rev. long
at 923.20).
Buy stop at 909.30 for obj. near 913 -
916 area and possibly near 920.
Buy stop at 923.20 for obj. near 926 -
928 area.
Buy stop at 930 for obj. near 934 - 935
area.
Sell stop at 877 for obj. near 874 -
872.50 bottom area.
Sell stop at 869.50 for obj. near
865.50 - 862.30 gap area.
Sell stop at 851 for obj. near 847 -
845 area and possibly near 841.60 gap 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 10/23/02 (10:21 am est)
The market had a sell off down to
877.50 in the big contract and therefore short positions were not
taken. Anyone using the sell stop at 877 for the E-mini is
now unfortunately in a short position which they should not be.
It is recommended for traders in this position to exit the best
they can. Traders should realize they must adjust sell stop
when trading the E-mini with this system.
Results:
10/23/02
| Bought @
883
Sold @ 888
= + $1,250.00
|
| Sold
@ 877 Bought @
874 = + $ 750.00
|
| Sold @
897
Bought @ 898.30 = - $ 325.00
|
| TOTAL
(P & L)
+ $1,675.00 |
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Thursday
10-24-02 : NOTE: After
each support and resistance listed will designate a
value - (very major) holds the highest importance,
then (major), (very significant), and (significant) is
of the least value. Very
aggressive trades - are trades that
are against the trend or a high dollar risk when wide
stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell
stop inside a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to
enter or complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only.
Where stops ARE NOT mentioned, they should be placed
below the second support area listed or above
the second resistance area listed, or 22 points from
the (trade entry point), whichever is the
lesser amount. NOTE: The
first support area becomes the resistance
after the market trades through the second
support area listed. The first resistance
area becomes the support after the market
trades through the second resistance area
listed.
Resistance:
For the Dec. contract -
898.70 top and 899 minor day
channel (major) / 901.80 day top (major)
/ 905.50 day top to 906.30 day gap (major area)
/ 916 GBX weekly top and 916.40
monthly closing price (very
major area) / 919
day channel and 921 minor weekly channel (very
major area) / 926.50
minor day channel and 927 weekly top (very
major area) / 935
major weekly channel and 936.90 day gap
(very major area) / 941.20
weekly closing price (major) / 947.80
day session closing price (major) / 956.50
weekly top (very
major area).
Support: For
the Dec. contract -
894.50 and 893.50 rev. peaks
(major area) / 893 and 892.50 intra-day
bases also 891.70 intra-day channel (major area)
/ 886.50 and 885.50 bases also
884.70 newly developed day channel (very
major area) / 883.20 weekly closing
price and 883 intra-day channel (major area)
/ 876.50 and 875.50 minor day
channels (very
major area) / 873 and 872.50 day bottoms
(major area) / 865.50 day bottom to
862.30 day gap (major area) / 855.70
day bottom and 854.50 rev. peak (very
major area) / 845
rev. peak to 841.60 day gap (very
major area).
Comments:
The
market on Wednesday remained inside the neutral range
whiplashing to both sides as expected. The close
being at the high end of the range can possibly
stimulate some rallies but still faces some major
resistance areas. A trade above the 901.80 top can
bring prices up near the 906.30 gap area and
possibly up to the 916 - 921 major resistance, which can
prove to hold back rallies for a while. A trade
above 921 is bullish, that can bring prices up to
challenge the 927 weekly top and possibly near the 935
weekly channel. A trade above 935 will be
considered a breakout that can possibly change the
major trend to the upside. A trade today below
884.70 - 883 is slightly bearish but a trade below
876.50 - 875.50 area can possibly bring prices down to
challenge the 855.70 bottom and 841.60 gap area. Continue
to remain defensive inside the 901.80 - 883 neutral
area. Prices can still swing to both sides before
proving a direction.
Day
trades: For the Dec. contract -
Aggressive traders
can sell rallies near 901.80 - 903 area
and if possible near 905 - 906.30 gap area for obj. near
895 - 893 area and possibly near 891.70. (Use a
buy stop and rev. long at 909.30).
Aggressive traders can attempt short
positions near 916 - 921 area for obj. near
910 - 908 area and possibly near 906. (Use a
buy stop and rev. long at 923.30).
Aggressive traders can buy dips
near 885 - 883 area for obj. near 891 - 892 area and
possibly near 859. (Use a sell stop and rev.
short at 871.70). (Conservative traders can
use a protective sell stop at 881. Do not rev.
short).
Buy stop at 909.30 for obj. near
913 - 916 area and possibly near 920.
Buy stop at 923.30 for obj. near
926.50 - 928 area.
Buy stop at 931 for obj. near 934 -
935 area.
Sell stop at 890 for obj. near 885
- 883 area.
Sell stop at 871.70 for obj. near
867 - 865.50 area and possibly near 862.30 gap area.
Sell stop at 851 for obj. near 847
- 845 area and possibly near 841.60 gap 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 10/24/02 (10:05 am est)
Short positions were taken at 904.
The sell off down to 896.50 and 896 double bottom proved to be
support where short positions met the obj. and took profits.
The rally up to the 902 - 903 area is still considered
resistance. Traders can attempt short positions again at
902 - 903 area for an obj. near 896 - 894 area. Continue
to use a buy stop and rev. long at 909.30.
Bulletin - Originally
sent 10/24/02 (10:15 am est)
Short positions were taken again
at 802. The sell off down to 896.20 meets the obj. to
complete the trade.
Bulletin - Originally
sent 10/24/02 (10:26 am est)
893 to 895 is considered
support where long positions can be attempted. The
obj. for long positions is 900 - 901 area. Use a
sell stop and rev. short at 890.
Bulletin - Originally
sent 10/24/02 (10:45 am est)
Long positions were taken at 894.
The rally up to 899 meets the obj. and completes the trade.
Bulletin - Originally
sent 10/24/02 (2:20 pm est)
The sell stop was hit at 890
putting traders into short positions. The chart
formation seems to be building support at the 889.50
bottom it made. It is recommended for traders to
exit the short position and cut losses. The market
is trading at 891 at this time.
Results:
10/24/02
| Sold @
904
Bought @ 896
= + $2,000.00
|
| Sold
@ 902 Bought @
896.20 = + $1,450.00
(second attempt as per bulletin)
|
| Bought @
894
Sold @ 899 = + $1,250.00
(as per bulletin)
|
| Sold
@ 890 Bought @
891 = - $
250.00 (bought as per bulletin)
|
| Bought
@ 884 Sold
@ 880 = -
$1,000.00
|
| TOTAL
(P & L)
+ $3,450.00
Conservative
trade Bought @
884 Sold @
881 = - $
750.00
|
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P -
For Friday
10-25-02 : NOTE: After
each support and resistance listed will designate a value - (very
major) holds the highest importance, then (major), (very
significant), and (significant) is of the least value. Very
aggressive trades - are trades that are against
the trend or a high dollar risk when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell stop inside a buy
area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter or
complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where stops ARE
NOT mentioned, they should be placed below the second
support area listed or above the second resistance
area listed, or 22 points from the (trade entry point),
whichever is the lesser amount. NOTE: The
first support area becomes the resistance after the
market trades through the second support area
listed. The first resistance area becomes the support
after the market trades through the second resistance area
listed.
Resistance: For
the Dec. contract -
882 intra-day channel and gap also
883.50 peak (major area) / 885 and 885.50 peaks (major
area) / 890.50 intra-day channel (major) /
893 and 894.80 peaks also 894 intra-day channel (major area)
/ 898.50 and 900.50 peaks (major area) / 902.30
peak and 903.60 newly developed day channel (very
major area) / 905 day top also
905.50 day top to 906.30 day gap (very
major) / 916 GBX weekly top
and 916.40 monthly closing price also 917 day channel (very
major area) / 921 minor weekly
channel (very major)
/ 925.50 minor day channel and 927 weekly top
(very major area) / 935
major weekly channel (very
major).
Support: For
the Dec. contract -
880 minor day channel (major)
/ 878 minor day channel and 877.50 day bottom
(very major area) / 873
and 872.50 day bottoms (very
major area) / 865.50 day bottom to 862.30 day gap (major
area) / 855.70 day bottom and 854.50
rev. peak (very major area)
/ 845 rev. peak to
841.60 day gap (very
major area) / 838.50 weekly closing price (major)
/ 836.20 is the 50% retracement area also 835
and 832.50 intra-day base area (very
major area) / 827.60 weekly
bottom (very major area).
Comments:
The sell-off on
Thursday from the major resistance proves the significance of the
area leaving the chart in neutral to slightly bearish condition.
A trade today below the 873 - 872.50 bottom areas is bearish and can
bring prices down to challenge the 862.30 gap and possibly near the
855.70 bottom. A trade below 855.70 can bring prices down near
the 841.60 gap area and the 836.20 (50% retracement area). A
trade today above 890.50 - 894 area is slightly bullish but only a
trade above 898.50 and 903.60 area can bring any solid
bullishness back to the chart. Remain defensive inside the
890.50 - 873 neutral area. The market can still prove to swing
to both sides until a solid direction is established.
Day trades:
For the Dec. contract -
Aggressive traders can sell
rallies near 882 - 883 area and if possible near 885 for obj. near
878.50 - 877.50 area. (Use a protective buy stop at 887.70.
Do not rev. long).
Aggressive traders can attempt
short positions near 890 - 893 area, if it gets there, for
obj. near 886 and possibly near 883 area. (Use a protective
buy stop at 895.70. Do not rev. long).
Aggressive traders can attempt
long positions near 877.50 and if possible near 874
for obj. near 882 - 883 area and possibly near 885. (Use a
sell stop and rev. short at 869.80).
Sell stop at 869.80 for
obj. near 866 - 862.30 area and possibly near 860.
Sell stop at 851 for
obj. near 847 - 845 area and possibly near 841.60 gap area.
Buy stop at 909.30 for
obj. near 913 - 916 area.
Buy stop at 923
for obj. near 925.50 - 927 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 10/25/02 (10:16 am est)
The double top at 888 can be the first sign
of resistance. It is recommended to take short positions near 886 area
for obj. near 881 - 880. (Use a protective buy stop at 895.70. Do
not rev short).
Note: it is still considered at sell area
at the 890 - 893 for additional short positions can be added.
Bulletin - Originally
sent 10/25/02 (12:55 pm est)
The rally up to 890 put traders into short
positions. The double bottom sell-off down to 886.50 completes the
trade.
Results:
10/25/02
| Bought @
877.50
Sold @ 883
= + $1,375.00
|
| Sold
@ 883 Bought @
887.70 = - $1,175.00
|
| Sold
@ 886 Bought @
881 = + $1,250.00
(as per bulletin)
|
| Sold @
890
Bought @ 886.50 = + $ 875.00
|
| TOTAL
(P & L)
+ $2,325.00 |
The week in review - 10/28/02 -
11/01/02
The Tech Guru's S & P Day
Trading Recommendations
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S & P
- For Monday
10-28-02 : NOTE: After
each support and resistance listed will designate a value -
(very major) holds the highest importance, then (major), (very
significant), and (significant) is of the least value. Very
aggressive trades - are trades that are against
the trend or a high dollar risk when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell stop inside
a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter or
complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where stops
ARE NOT mentioned, they should be placed below the
second support area listed or above the second
resistance area listed, or 22 points from the (trade entry
point), whichever is the lesser amount. NOTE: The
first support area becomes the resistance after the
market trades through the second support area
listed. The first resistance area becomes the support
after the market trades through the second
resistance area listed.
Resistance:
For the Dec. contract -
900 top also 902 and 903.50 day
channels (major area) / 905 and 905.50 day tops
to 906.30 day gap (major area) / 915
weekly channel also 915 day channel and 916 GBX weekly top also
916.40 monthly close and 917 minor day channel (very
major area) / 924.50 minor
day channel and 927 weekly top also 927 weekly channel (very
major area) / 936.90 day gap (major)
/ 941.20 weekly closing price (major) / 947.80
day session closing price (major) / 956.50
weekly top (very major area).
Support: For
the Dec. contract -
897.50 intra-day channel and 895 rev.
channel (major area) / 892.50 and 892 double base
(major area) / 890 rev. peak and 889 intra-day
channel (major area) / 885
newly developed day channel also 884 and 883.20 base
(very major area) / 879
minor day channel and 878.50 intra-day base (very
major area) / 876.20 day bottom (major)
/ 873 and 872.50 weekly bottom area (very
major area) / 865.50 day bottom to 862.30 day gap (major
area) / 855.70 day bottom and
854.50 rev. peak (very major
area) / 845 rev. peak to
841.60 day gap (very major
area).
Comments:
The rally on Friday
from the support area put the chart at the high end of the neutral
area and also managed to close the end of the week above the last
seven weeks closing prices, leaving the chart in neutral to
bullish condition. The market faces major resistance at 915
and 927 on the weekly chart. A trade this week above 927
will be considered a breakout that can challenge the 966 major
weekly top area and possibly up near 990 and 1020 areas. A
trade below 885 - 884 area is bearish but a trade below 876.20 and
872.50 bottom areas can bring prices down to challenge the
855.70 area and possibly near the 841.60 gap area. Continue
to remain defensive inside the 915 - 885 neutral trading area
until a breakout is seen to either side.
Day trades:
For the Dec. contract -
Aggressive traders can sell
rallies near 913 - 916 area for obj. near 906 and possibly near
902 area. (Use a buy stop and rev. long at 919.70).
Aggressive traders can sell
rallies near 924 - 927 area for obj. near 917 and possibly near
915 - 912 area. (Use a buy stop and rev. long at 930.70).
Aggressive traders can buy
dips near 889 - 885 area and if possible near 884 for obj. near
893 - 895 area. (Use a sell stop and rev. short at 882.30).
Buy stop at 919.70
for obj. near 923 - 927 area.
Buy stop at 930.70
for obj. near 935 - 936.90 gap area and possibly near 939 - 941
area.
Sell stop at 894 for
obj. near 892 and possibly near 890 - 889 area.
Sell stop at 882.30
for obj. near 880 - 879.50 area and possibly near 878.50 area.
Sell stop at 870 for
obj. near 866 - 865.50 area and possibly near 862.30 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.
|
Results:
10/28/02
| Sold
@ 894
Bought
@ 892 = +
$ 500.00 |
| Bought @
887
Sold @ 893
= + $1,500.00 |
| TOTAL
(P & L) +
$2,000.00 |
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Tuesday
10-29-02 : NOTE: After
each support and resistance listed will designate a value
- (very major) holds the highest importance, then (major),
(very significant), and (significant) is of the least
value. Very aggressive
trades - are trades that are against the
trend or a high dollar risk when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell stop
inside a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to
enter or complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where
stops ARE NOT mentioned, they should be placed below
the second support area listed or above the
second resistance area listed, or 22 points from the (trade
entry point), whichever is the lesser amount. NOTE: The
first support area becomes the resistance
after the market trades through the second
support area listed. The first resistance
area becomes the support after the market trades
through the second resistance area
listed.
Resistance:
For the Dec. contract -
892.50 intra-day channel and
893.20 peak also 893.80 rev. channel (major area)
/ 895.80 peak (major) / 899.30
peak and 900.30 intra-day channel (very
major area) / 904 intra-day peak (major)
/ 907.50 and 908.20 day channels also
908.70 day top and 909.40 GBX top (very
major area) / 911 and 911.60 minor upper
channels (significant area) / 913.70
major day channel and 915 weekly channel also 916 minor day
channel and 916 GBX weekly top and 916.40 monthly closing
price (very major area)
/ 923.50 minor day channel (major) / 927
weekly top and 927 weekly channel (very
major area) / 936.90 day gap (major)
/ 941.20 weekly closing price (major).
Support: For
the Dec. contract -
886.20 intra-day channel and 885
bottom (major area) / 882
and 879.40 minor day channels (very
major area) / 876.20,
873 and 872.50 day bottoms (very
major area) / 865.50 day bottom to 862.30
day gap (major area) / 855.70
day bottom (very major)
/ 845 rev. peak to 841.60 day gap
(very major area).
Comments:
On Monday,
the market sold-off again from the upper end of the
neutral area proving the significance of this area.
For Tuesday, the neutral trading range is between 900.30 and
882. A trade above 907.50 - 909.50 area will challenge
the major resistance at 915 - 916 area, which can possibly
hold back rallies for a while. A trade above 927 will
be considered a breakout for higher prices to follow.
A trade today below 882 - 879.40 area is bearish and a trade
below 873 - 872.50 area will confirm lower prices to follow
possibly challenging the 855.70 - 845 gap area. Remain
defensive inside this neutral area that has lasted for six
day. Neutral conditions can possibly remain the same
for a few more trading sessions before a solid breakout is
seen.
Day
trades: For the Dec. contract -
Aggressive traders can
buy dips near 883 - 882 area for obj. near 889 -
892 area. (Use a sell stop and rev. short at 878.80).
Aggressive traders can
sell rallies near 892 - 893.50 area for obj. near
887 - 885 area. (Use a buy stop and rev. long at 896).
Aggressive traders can
sell rallies near 899 - 900 area for obj. near 895
- 893 area. (Use a buy stop and rev. long at 910).
(Conservative traders can use a protective buy stop at
904.80. Do not rev. long).
Sell stop at
878.80 for obj. near 876 - 873 bottom area.
Sell stop at
869.80 for obj. near 866 - 863 area.
Sell stop at
851 for obj. near 847 - 845 area and possibly near 841.60
gap.
Buy stop at 896
for obj. near 898.50 - 899 and possibly near 900.
Buy stop at 910
for obj. near 912 - 914 area and possibly near 915.
Buy stop at 930
for obj. near 935 - 936 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
10/29/02 (9:57 am est)
Short positions were taken
at 891 and met the obj. at 887. The sell off down
to 884.80, which is a double bottom to yesterday's low
and considered support for long positions to be taken
near 885 - 886.50 area for obj. near 889 - 891 area.
Continue to use a sell stop and rev. short at 878.80.
Bulletin - Originally sent
10/29/02 (10:25 am est)
The market sold off
putting traders into short positions at 878.80
meeting the obj. at 874.50. The market at this
time seems to be holding the last major support area
that can be considered a buy. It is
recommended for aggressive traders to consider long
positions near 875 - 876.50 area for an obj. near
883 and possibly near 886. Continue to use a
sell stop and rev. short at 869.80.
Results:
10/29/02
| Sold
@ 890
Bought
@ 887 = +
$ 875.00 |
| Bought
@
886
Sold @
878.80
= - $1,800.00 |
| Sold
@
878.80
Bought @ 874.50 = +
$1,075.00 |
| Bought
@ 875.50
Sold @
869.80
= - $1,425.00 |
| Sold @
869.80
Bought @ 866
= + $ 950.00 |
| TOTAL
(P & L)
- $
325.00 |
A
TECHNICAL GUIDE FOR DAY TRADING THE
S & P
S
& P - For Wednesday
10-30-02 : NOTE: After
each support and resistance listed will
designate a value - (very major) holds
the highest importance, then (major),
(very significant), and (significant) is
of the least value. Very
aggressive trades - are
trades that are against the trend or a
high dollar risk when wide stops are
used. "The
Golden Rule"
- Do not use a buy
stop inside a sell area or a sell
stop inside a buy area. The
word NEAR can
be 1/2 to 1 point from a price listed in
any trade to enter or complete a trade.
Special
instructions for using stops -
All
stops listed are for the day session
only. Where stops ARE NOT
mentioned, they should be placed below
the second support area listed or
above the second resistance
area listed, or 22 points from the (trade
entry point), whichever is the
lesser amount. NOTE: The
first support area becomes the resistance
after the market trades through the second
support area listed. The
first resistance area becomes the support
after the market trades through the second
resistance area listed.
Resistance:
For the Dec.
contract -
884.30 peak
and 884.50 intra-day channel (major
area) / 886.80 peak and 887.50
peak (major area) / 890.90
day top and 891.80 day gap also 892
intra-day channel and 893.20 peak (very
major area) / 895.80 peak
(significant) / 898.70 weekly closing
price (major) / 904
intra-day peak (major) / 906.60
and 907 day channels (very
major area) / 908.70 day
top and 909.40 GBX top (major
area) / 912
major day channel and 915 weekly channel
also 916 GBX weekly top and 916.40 monthly
close (very
major area) / 923 minor
day channel (major) / 927
weekly top and 927 weekly channel (very
major area).
Support: For
the Dec. contract -
880 base
(significant) / 875.80 and 875.50 rev.
peaks (major area) / 873.50
newly developed day channel and 872.40
rev. channel (very
major area) / 869.50 minor
day channel (major) / 867
minor day channel also 866 day bottom and
865.50 day bottom (very
major area) / 862.30 day
gap (major area) / 855.70
day bottom and 854.50 rev. peak (very
major area) / 845
rev. peak to 841.60 day gap (very
major area).
Comments:
The sell-off on Tuesday brought
prices down to a support area stimulating
rallies from the 866 support leaving
the chart to close in a neutral condition
for the sixth day. Whiplashing to
both sides of the seventh day's neutral
area, between 892 - 873.50, can develop
and can still keep the market from proving
a solid direction. Remain defensive.
The market can prove to remain neutral
into next weeks sessions.
Day
trades: For the Dec. contract -
Aggressive
traders can sell rallies near 884
- 887 area for obj. near 880 and possibly
near 878. (Use a buy stop and rev.
long at 888).
Aggressive
traders can sell rallies near 890
- 893 area for obj. near 887 - 885 area.
(Use a buy stop and rev. long at 896.20).
Aggressive
traders can sell rallies near 904
- 907 area for obj. near 900 - 897 area.
(Use a protective buy stop at 909.50.
Do not rev. long).
Aggressive
traders can sell rallies near 915
for obj. near 908 - 905 area and possibly
near 901. (Use a buy stop and rev.
long at 920).
Aggressive
traders can buy dips near 875 -
872.50 area for obj. near 879 and possibly
near 881. (Use a sell stop and rev.
short at 865).
Buy
stop at 888 for obj. near 890 - 893 area.
Buy
stop at 896.20 for obj. near 898.50 and
possibly near 900.
Buy
stop at 920 for obj. near 923 and possibly
near 927.
Sell
stop at 865 for obj. near 862.30 gap area
and possibly near 861.
Sell
stop at 859.80 for obj. near 856.50 -
855.70 bottom area.
Sell
stop at 851 for obj. near 847 - 845 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 10/30/02 (9:40 am est)
The market opened in the sell
area near 884 where short positions were taken at 883.
The sell off down to 880.10 meets the obj. and completes
the trade. The double bottom at 880 on the intra-day
chart can prove to be support to bring prices higher.
It is recommended not to repeat the first trade to sell at
884 - 887 area due to the high risk at this time.
Results:
10/30/02
| Sold @
883
Bought @ 880 = +
$ 750.00 |
| Sold @
890
Bought @ 886
= + $1,000.00 |
| TOTAL
(P & L) +
$1,750.00 |
A TECHNICAL
GUIDE FOR DAY TRADING THE S & P
S
& P - For Thursday
10-31-02 : NOTE: After
each support and resistance listed will designate
a value - (very major) holds the highest
importance, then (major), (very significant), and
(significant) is of the least value. Very
aggressive trades - are trades
that are against the trend or a high dollar risk
when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a
sell stop inside a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade
to enter or complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only.
Where stops ARE NOT mentioned, they should be
placed below the second support area
listed or above the second
resistance area listed, or 22 points from the (trade
entry point), whichever is the lesser
amount. NOTE: The
first support area becomes the resistance
after the market trades through the second
support area listed. The first
resistance area becomes the support after
the market trades through the second
resistance area listed.
Resistance: For
the Dec. contract -
891.50 minor intra-day channel
also 893.50 and 893.80 double peak congestion (major
area) / 895.50 day top (major) /
898.70 weekly closing price (major) / 904
peak also 904.50, 905 and 906 minor day channels (very
major area) / 908.70
day top and 909.40 GBX top also 910 major day channel
(very major area)
/ 914 minor day channel and 915
weekly channel also 916 GBX weekly top and 916.40 monthly
closing price (very
major area) / 922 minor day channel (major)
/ 927 weekly top and 927 weekly
channel (very major
area) / 936.90 day gap (major)
/ 941.20 weekly close (major).
Support: For
the Dec. contract -
888 newly developed day
channel with GBX prices and 887 base also 887.50 and
886.50 intra-day channels (major area) /
882 base and 881 day channel (major area)
/ 873 minor day channel (very
major area) / 868.50
minor day channel also 866 and 865.50 day bottoms (very
major area) / 862.30 day gap (major)
/ 855.70 day bottom and 854.50 rev.
peaks (very major
area) / 845 rev.
peak to 841.60 day gap (very
major area).
Comments:
Wednesday's
trading session remained inside the neutral range as
expected. The whiplashing action between the 904 and
873 neutral range can continue until a solid breakout is
seen to either side. A trade above 904 - 906 can
bring prices up to challenge the 915 area and possibly
near 927 but only a trade above 927 will be considered a
breakout for higher prices to follow. A trade today
below 873 is bearish but a trade below 865 can bring
prices down to challenge the 855.70 bottom and possibly
near 845 - 841.60 gap area. NOTE:
The 838.50 area is a
50% retracement between the high and low for this entire
move. Remain defensive inside the neutral area until
a breakout is seen to either side.
Day trades:
For the Dec. contract -
Aggressive traders can
sell rallies near 891 - 893 area or buy dips near
889 - 887 area whichever side comes first to complete the
trade. (Use a buy stop and rev. long at 896.70).
(Use a sell stop and rev. short at 880).
Aggressive traders can
sell rallies near 904 - 905 area for obj. near
900 - 898.50 area. (Use a protective buy stop at
907.20. Do not rev. long).
Aggressive traders can
buy dips near 875 - 873 area for obj.. near 880 -
883 area. (Use a sell stop and rev. short at 864).
(Conservative traders can use a protective sell stop at
870. Do not rev. short).
Buy stop at
896.70 for obj. near 899 - 902 area and possibly near 904.
Buy stop at
919 for obj. near 922 and possibly near 925.
Sell stop at
880 for obj. near 875 - 873 area.
Sell stop at
864 for obj. near 862.30 gap - 860 area.
Sell stop at
851 for obj. near 847 - 845 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 10/31/02 (9:49 am est)
Short positions were taken
at 893 with a buy stop and rev. long at 896.70.
The high today in the big contract was 895.50 and
therefore short positions are still intact. Anyone
trading the E-mini should have adjusted the buy stop at
least 1/2 to 3/4 point. The high on the E-mini was
897. Anyone who got stopped into a long position
should exit and re-adjust their buy stop.
Bulletin
- Originally sent 10/31/02 (10:37 am est)
The short position at 893
met the obj. at 889 to complete the trade.
Thereafter, rallies up to 896.70 put traders into long
positions and met the obj. at 899. Aggressive
traders can still consider selling rallies at 904 - 905
as listed in the second trade of today's report.
Results:
10/31/02
| Sold @
893
Bought @ 889 = +
$1,000.00 |
| Bought
@ 896.70 Sold
@ 899
= + $ 575.00 |
| TOTAL
(P & L) +
$1,575.00 |
A TECHNICAL
GUIDE FOR DAY TRADING THE S & P
S
& P - For Friday
11-01-02 : NOTE: After
each support and resistance listed will
designate a value - (very major) holds the
highest importance, then (major), (very
significant), and (significant) is of the least
value. Very
aggressive trades - are trades
that are against the trend or a high dollar risk
when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a
sell stop inside a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any
trade to enter or complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only.
Where stops ARE NOT mentioned, they should be
placed below the second support area
listed or above the second
resistance area listed, or 22 points from the (trade
entry point), whichever is the lesser
amount. NOTE: The
first support area becomes the resistance
after the market trades through the second
support area listed. The first
resistance area becomes the support after
the market trades through the second
resistance area listed.
Resistance: For
the Dec. contract -
888 peak and 890 intra-day
channel (major area) / 892.50 and 894
peaks (major area) / 895.50
newly developed day channel (very
major area) / 899 day top (major)
/ 903 day channel and 904 intra-day
peak also 904 and 905 minor day channels (very
major area) / 908.50
major day channel also 908.70 day top and 909.40 GBX top (very
major area) / 913
and 914 minor day channels also 915 weekly channel and 916
GBX weekly top (very
major area) / 921 minor day channel (major)
/ 927 major weekly channel and 927
weekly top (very
major area) / 936.90 day gap (major).
Support: For
the Dec. contract -
884 newly developed minor day
channel (major) / 878
daily double bottom also 877 GBX bottom and 876.50 day
channel (very major
area) / 869.50 minor day channel (major)
/ 866 and 865.50 day bottoms (very
major area) / 862.30 day gap (major)
/ 855.70 day bottom and 854.50 rev.
peak (very major
area) / 845 rev.
peak to 841.60 day gap (very
major area).
Comments:
Thursday's
trading range, once again, remained inside the neutral
range as expected. The neutral range between 903 and
876.50 can continue to stimulate whiplashing to both sides
until a breakout is seen to either side. A trade
above 895.50 is slightly bullish but a trade above 903 -
905 area can challenge the 915 and 927 major resistance
areas. A trade below 876.50 today is slightly
bearish but a trade below 869.50 and 866 area can bring
prices down to challenge the 855.70 bottom and possibly
near the 845 - 841.60 gap area. NOTE:
The 838.50 area is a
50% retracement between the 909.40 top and 767.50 bottom,
which can possibly be considered a buying area inside a
major neutral range. Remain defensive inside this
seventh day neutral range.
Day trades:
For the Dec. contract -
Aggressive traders can
sell rallies near 892 - 895 area for obj. near
886 and possibly near 884. (Use a buy stop and rev.
long at 896.70).
Aggressive trades can
sell rallies near 903 - 905 area for obj. near
896 and possibly near 893. (Use a buy stop and rev.
long at 910.20).
Aggressive traders can
buy dips near 879 - 877 area for obj. near 882 -
884 area. (Use a sell stop and rev. short at 873).
Buy stop at
896.70 for obj. near 901 - 903 area and possibly near 905.
Buy stop at
910.20 for obj. near 913 - 914 area and possibly near 915.
Buy stop at
923.70 for obj. near 926 - 927 area.
Sell stop at
873 for obj. near 870.50 - 869.50 area.
Sell stop at
864.80 for obj. near 862.30 gap and possibly near 861.
Sell stop at
859 for obj. near 856 - 855 area.
Sell stop at
851 for obj. near 847 - 845 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 11/01/02 (1:14 pm est)
The buy stop was hit at
896.70 putting traders into long positions. The
chart formation appears to be proving resistance at
the 898 - 899 area and getting top heavy. It is
recommended to exit long positions at the market and
cut loses. The market is trading at 893.50 at
this time.
Bulletin
- Originally sent 11/01/02 (2:37 pm est)
The double top at 897.80
and 897 can be considered resistance and a sell signal
for possible lower prices.
Aggressive traders can
sell near 893 - 894 area for obj. near 888 and
possibly near 884 area.
Continue to use a buy stop
at 910 as mentioned in the second trade. The
sell at 903 - 905 area is still considered a good
trade.
Results:
11/01/02
|
Bought @
879
Sold @ 882
= + $ 750.00 |
| Sold
@
892
Bought @ 896.70
= - $1,175.00 |
| Sold
@ 896.70
Bought @ 893.50
= - $
800.00 (as per
bulletin) |
| Sold
@ 893.50
Bought @
899
= - $1,375.00 (as per
bulletin) |
| Sold
@
904
Bought @ 899
= + $1,250.00 |
| TOTAL
(P & L)
- $1,350.00 |
The
week in review - 11/04/02 -
11/08/02
The Tech Guru's S & P Day
Trading Recommendations
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S & P
- For Monday
11-04-02 : NOTE: After
each support and resistance listed will designate a value -
(very major) holds the highest importance, then (major), (very
significant), and (significant) is of the least value. Very
aggressive trades - are trades that are against
the trend or a high dollar risk when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell stop inside
a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter or
complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where stops
ARE NOT mentioned, they should be placed below the
second support area listed or above the second
resistance area listed, or 22 points from the (trade entry
point), whichever is the lesser amount. NOTE: The
first support area becomes the resistance after the
market trades through the second support area
listed. The first resistance area becomes the support
after the market trades through the second
resistance area listed.
Resistance:
For the Dec. contract -
900.30 newly
developed weekly channel also 902.50 day channel and 903.20 weekly
channel also 904 day top (very
major area) / 907.50 major
day channel also 908.70 day top and 909.40 GBX top (very
major area) / 911 weekly
channel also 912 and 913 minor day channel (very
major area) / 916 GBX weekly top (major)
/ 920 minor day channel and 920 major weekly
channel (very major area)
/ 927 weekly top and 928.50 day top (very
major area) / 936.90 day gap
and 941.20 weekly
close (very major area) / 947.80
day session close (major).
Support: For
the Dec. contract -
898.50 major weekly
channel and 897 intra-day channel (very
major) / 892.50 and 890.30 intra-day bases (major
area) / 885 minor weekly channel
and 882.20 newly developed day channel (very
major) / 878.60 minor day
channel also 876.50 day bottom and 875.50 GBX bottom (very
major area) / 871 minor day channel (major)
/ 866 weekly bottom also 865.50 day
bottoms to 862.30 day gap (very
major area) / 855.70 day
bottom and 854.50 rev. peak (very
major area) / 845 rev. peak
to 841.60 day gap (very major
area).
Comments:
The rally on Friday
remained inside the neutral range for the ninth day in a row.
It managed to close the end of the week exactly unchanged from
last week leaving the chart again totally neutral. A trade
above 920 and 927 this week will be considered a breakout for
prices to challenge the 966 top area and possibly higher. A
trade this week below 885 can challenge last weeks low at 866 and
possibly trade down near the 845 - 841.60 gap area. Remain
defensive inside the 920 - 885 neutral trading range until a
breakout is seen to either side.
Day trades: For the
Dec. contract -
Aggressive traders can sell
rallies near 911 - 913 for obj. near 904 - 903 area. (Use a
buy stop and rev. long at 923.30). NOTE:
If rallies continue before
this trade is complete, aggressive traders can add to the short
position and sell near 916 - 920 area changing the obj. near 909 -
907 area for both short positions to exit and complete the trade.
(Continue to use a buy stop and rev. long at 923.30).
Aggressive traders can buy
dips near 886.50 - 883.50 area for obj. near 894 - 897 area.
(Use a sell stop and rev. short at 875).
Buy stop at 923.30
for obj. near 926 - 927 top.
Buy stop at 930.50
for obj. near 934.50 - 936.90 gap area.
Sell stop
at 896 for obj. near 893 and possibly near 891.
Sell stop
at 889.50 for obj. near 886.50 and possibly near 885.
Sell stop at 875 for
obj. near 872 - 871 area.
Sell stop at 868 for
obj. near 865.50 - 862.30 gap 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 11/04/02 (10:31 am est)
Short positions were
taken at 913 and again at 918. The buy stop and rev.
long must be changed from 923.30 to 930.50. Conservative
traders can use a protective buy stop at 925.30. The reason
for this change is because of the newly developed down channel
line at 924.50 found on the weekly chart.
Bulletin
- Originally sent 11/04/02 (3:10 pm est)
The sell-off down to the 911 area seems good
enough to consider taking profits. Exit all short
positions at the market to complete the trade. The market is
trading at 911.50 at this time.
Results:
11/04/02
| Sold @
913
Bought @ 911.50 = +
$ 375.00 |
| Sold
@
918
Bought @ 911.50
= + $1,625.00 |
| TOTAL
(P & L)
+ $2,000.00 |
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Tuesday
11-05-02 : NOTE: After
each support and resistance listed will designate a value -
(very major) holds the highest importance, then (major),
(very significant), and (significant) is of the least value.
Very aggressive trades -
are trades that are against the trend or a high dollar risk
when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell stop
inside a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter
or complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where
stops ARE NOT mentioned, they should be placed below
the second support area listed or above the
second resistance area listed, or 22 points from the (trade
entry point), whichever is the lesser amount. NOTE: The
first support area becomes the resistance after
the market trades through the second support area
listed. The first resistance area becomes the support
after the market trades through the second
resistance area listed.
Resistance:
For the Dec. contract -
912 and 913 peaks (major
area) / 916.50 intra-day channel (major)
/ 920.80, 921.50 and 922.50 peaks (major area)
/ 923.50 newly developed day channel and
925 day top also 927 weekly top and 928.50 day top (very
major area) / 936.90 day gap and 941.20 weekly
close (major area) / 947.80 day session close
(major) / 956.50
weekly top (very major area) / 961.40
day gap and 965.10 Dec. contract's weekly top also 966 major
weekly top (very major
area).
Support: For
the Dec. contract -
904.80 bottom and 904 rev. peak (major
area) / 898.50 major weekly
channel and 898.50 weekly closing price (very
major area) / 892.50 and 890.30 intra-day
bases (major area) / 888.50
day channel and 885 minor weekly channel (very
major area) / 881.50 minor day channel (major)
/ 876.50 day bottom and 875.50 GBX bottom (major area)
/ 872 minor day channel (very
major area) / 866 weekly
bottom and 865.50 day bottom also 862.30 day gap (very
major area) / 855.70 day
bottom and 854.50 rev. peak (very
major area).
Comments:
The sell-off on Monday from the major
resistance proved the significance of the area. The
market remains inside the neutral area between 923.50 and 885
and can still trade to both sides without showing a direction.
A trade above 927 - 928.50 area will be considered a breakout
for higher prices. A trade below 898.50 is slightly
bearish but a trade below 885 - 881.50 area can bring prices
down to challenge the 866 and 855.70 bottom areas and possibly
near the 841.60 gap. Remain defensive inside this wide
neutral area.
Day trades:
For the Dec. contract -
Aggressive traders can sell rallies near 913
- 916 area for obj. near 906 - 904 area. (Use a buy stop
and rev. long at 930.50). (Conservative traders can use
a buy stop at 917.70. Do not rev. long).
Aggressive traders can sell rallies near 920
- 923 area and if possible near 925 for obj. near 913 - 910
area. (Use a buy stop and rev. long at 930.50).
Aggressive traders can buy dips near 899.50 -
898.50 area for obj. near 903 - 904. (Use a sell stop
and rev. short at 896.30).
Aggressive traders can buy dips near 888.50 -
885 area for obj. near 893 - 895 area. (Use a sell stop
and rev. short at 879).
Buy stop at 930.50 for obj. near 935 - 936.90
gap area and possibly near 940.
Buy stop at 943.70 for obj. near 947 and
possibly near 949.
Sell stop at 896.30 for obj. near 893 and
possibly near 891.
Sell stop at 879 for obj. near 876.
Sell stop at 869 for obj. near 866 and
possibly near 962.30 gap 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 11/05/02 (10:28 am est)
The rally up to 912.50 put traders into short
positions taken at 912.20. The sell off down to 907.50
proved to be supportive for traders to consider exiting the
short position and taking profits. The market is trading
at 908.50 at this time.
Results:
11/05/02
| Sold
@ 912.80
Bought @ 908.50
= + $ 925.00 |
|
TOTAL
(P & L)
+ $ 925.00 |
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Wednesday
11-06-02 : NOTE: After
each support and resistance listed will designate a value -
(very major) holds the highest importance, then (major),
(very significant), and (significant) is of the least value.
Very aggressive trades -
are trades that are against the trend or a high dollar risk
when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell stop
inside a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter
or complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where
stops ARE NOT mentioned, they should be placed below
the second support area listed or above the
second resistance area listed, or 22 points from the (trade
entry point), whichever is the lesser amount. NOTE: The
first support area becomes the resistance after
the market trades through the second support area
listed. The first resistance area becomes the support
after the market trades through the second
resistance area listed.
Resistance: For
the Dec. contract -
919 rev.
channel also 920.80, 921.50 and 922.50 intra-day peaks also 922
day channel (very major
area) / 925 day top and
927 weekly top also 928.50 day top (very
major area) / 936.90 day gap and 941.20 weekly
closing price (major area) / 947.80 day session
closing price (major) / 956.50
weekly top and 958 day channel (very
major area) / 961.40 day
gap and 965.10 Dec. contract's weekly top also 966 major weekly
top (very major area).
Support: For
the Dec. contract -
912.50 intra-day channel (major)
/ 909.50, 909.20 and 908 intra-day base area (major)
/ 905.50 base and 904.50 bottom (major area) / 898.50
major weekly channel and 898.50 weekly closing price also 895.50
day channel (very major
area) / 892.50 and 890.30 intra-day bases (significant)
/ 887 and 884.50 minor day channels also
885 minor weekly channel (very
major area) / 876.50 day
bottom and 875.50 GBX bottom (very
major area) / 866 weekly
bottom and 865.50 day bottom also 863.40 GBX bottom and 862.30
day gap (very major area)
/ 855.70 day bottom and 854.50 rev. peak
(very major area).
Comments:
The trading range on Tuesday remained narrow
but managed to close up on the day from the first support area,
which leaves the chart in slightly bullish condition for
possible rallies. The market faces major resistance at the
922 area and 927. A trade above 927 will be considered a
breakout for prices to challenge the 966 major top area. A
trade below 898.50 is slightly bearish but only a trade below
885 can bring any bearishness back to the chart. Remain
defensive inside the 922 - 898 neutral range. The
market can still whiplash to both sides before proving a
direction.
Day trades:
For the Dec. contract -
Aggressive traders can sell rallies near 919 -
922 area and if possible near 925 for obj. near 914 - 912.50
area. (Use a buy stop and rev. long at 930.70).
Aggressive traders can buy dips near 900 -
898.50 area for obj. near 904 - 905 area and possibly near 906.
(Use a sell stop and rev. short at 894.50).
Buy stop at 930.70 for obj. near 935 - 936.90
gap area and possibly near 939.
Buy stop at 943.70 for obj. near 947 and
possibly near 949.
Sell stop at 911.70 for obj. near 909.70 and
possibly near 908. NOTE:
If this sell stop at
911.70 fails to materialize the obj. immediately after the stop
is hit (approx. 5 min.), then exit the trade at 912 - 911 area
and scratch the trade. The 912.50 is a significant support
level and should be treated as such.
Sell stop at 903 for obj. near 900 - 898.50
area.
Sell stop at 894.50 for obj. near 892.50 -
890.50 area and possibly near 887.
Sell stop at 881.50 for obj. near 878 - 876
area.
Sell stop at 871 for obj. near 867 - 865 and
possibly near 862.30 gap 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 11/0602 (9:46 am est)
Short positions were taken at the opening at
920.50. The sell off down to 914.50 is near the obj. and
completes the trade.
Results:
11/06/02
| Sold
@
920.50
Bought @ 914.50 = +
$1,500.00 |
| Sold
@
911.70
Bought @ 912.70 = -
$ 250.00 |
| Sold
@ 903
Bought @ 913
= - $2,500.00 |
|
TOTAL
(P & L) -
$1,250.00 |
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Thursday
11-07-02 : NOTE: After
each support and resistance listed will designate a
value - (very major) holds the highest importance, then
(major), (very significant), and (significant) is of the
least value. Very
aggressive trades - are trades that are
against the trend or a high dollar risk when wide stops
are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell
stop inside a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to
enter or complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where
stops ARE NOT mentioned, they should be placed below
the second support area listed or above
the second resistance area listed, or 22 points from
the (trade entry point), whichever is the
lesser amount. NOTE: The
first support area becomes the resistance
after the market trades through the second
support area listed. The first resistance
area becomes the support after the market trades
through the second resistance area
listed.
Resistance: For
the Dec. contract -
927 weekly top
and 928.50 day top (very
major area) / 936.90 day gap and 941.20 weekly
closing price (major area) / 947.80 day session
closing price (major) / 956.50
weekly top and 957 day channel (very
major area) / 961.40 day
gap and 965.10 Dec. contract's top also 966 major weekly top and
967.50 weekly channel (very
major area).
Support: For
the Dec. contract -
921 intra-day gap and 919.50
intra-day channel (major area) / 917.50 and
916.80 bases (major area) / 914
base and 912.20 newly developed day channel (very
major area) / 907.50 base (major)
/ 903 day bottom and 902 major day channel
(very major area)
/ 898.50 major weekly channel and 898.50
weekly open gap (very major
area) / 892.50 and 890.30 intra-day bases also
890.50 minor day channel (major area) / 887.50
minor day channel and 885 minor weekly channel (very
major area) / 876.50
day bottom and 875.50 GBX bottom also 874.50 minor day channel
(very major area).
Comments:
The rally on Wednesday brought prices up to a
very critical resistance. A trade above the 927 - 928.50
area will be considered a breakout for higher prices and can
possibly challenge the 966 major top area. A trade today
below the 902 and 898.50 support areas is bearish and can bring
prices down to challenge the 885 major support. A trade
below 885 will be considered a technical failure for prices to
challenge the 876.50 - 874.50 area and possibly down to the
841.60 gap area. Remain defensive inside the neutral range
between 927 and 902. The market can still swing to both
sides before proving a direction.
Day trades:
For the Dec. contract -
Aggressive traders can buy dips near 914.50 -
912.50 area for obj. near 918 - 920 area. (Use a sell stop
and rev. short at 910.50).
Aggressive traders can sell rallies near 924 -
927 area for obj. near 919.50 - 917 area. (Use a buy stop
and rev. long at 930.70).
Aggressive traders can attempt long positions
near 903 - 902 area and if possible near 898.50 for obj. near
910 - 912 area. (Use a sell stop and rev. short at 895).
Aggressive traders can attempt long positions
near 888 - 885 area for obj. near 895 and possibly near 897.
(Use a sell stop and rev. short at 882).
Buy stop at 930.70 for obj. near 935 - 936.90
gap area and possibly near 939.
Buy stop at 943.70 for obj. near 947 and
possibly near 949.
Sell stop at 910.50 for obj. near 907.50 and
possibly near 904 - 902 area.
Sell stop at 895 for obj. near 892 and possibly
near 890.
Sell stop at 882 for obj. near 878 - 876 area
and possibly near 874.50.
|
*
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 11/07/02 (10:04 am est)
Short positions were taken at 910.50.
The sell off down to 908 completes the trade. Anyone
still in the short position should exit immediately.
Results:
11/07/02
| Bought @
914
Sold @
910.50
= - $ 875.00 |
| Sold
@ 910.50
Bought @ 908.20 = +
$ 575.00 |
| Bought
@ 902.50 Sold
@
902.50
=
-0- |
| Bought @
898.50 Sold @
902.50
= + $1,000.00 |
|
TOTAL
(P & L) +
$ 700.00 |
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Friday
11-08-02 : NOTE: After
each support and resistance listed will designate a
value - (very major) holds the highest importance, then
(major), (very significant), and (significant) is of the
least value. Very
aggressive trades - are trades that are
against the trend or a high dollar risk when wide stops
are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell
stop inside a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to
enter or complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where
stops ARE NOT mentioned, they should be placed below
the second support area listed or above
the second resistance area listed, or 22 points from
the (trade entry point), whichever is the
lesser amount. NOTE: The
first support area becomes the resistance
after the market trades through the second
support area listed. The first resistance
area becomes the support after the market trades
through the second resistance area
listed.
Resistance: For
the Dec. contract -
904 peak and 904.50 intra-day channel (major area)
906.80 and 907.50 peaks also 907.50 day channel (major
area) / 914.20 intra-day peak and 917 day top (major
area) / 923 day channel (major) / 925
day channel and 925.70 day gap also 926.30 GBX top and 926.50
day top also 927 weekly top and 928.50 day top (very
major area) / 936.90 day gap and 941.20 weekly
closing price (major area) / 945.50 minor day
channel and 947.80 day session closing price (major
area) / 956.50 weekly top
(very major area)
/ 961.40 day gap and 965.10 top also 966
major weekly top and 967.50 major weekly channel (very
major area).
Support: For
the Dec. contract -
902.40 and 902.10 newly developed day channels (major
area) / 899 intra-day channel
and 897 day bottom (very
major area) / 894 minor day channel
(significant) / 892.50 and 890.30 intra-day bases also 890.50
minor day channel (major area) / 885
minor weekly channel (very
major area) / 876.50 day
bottom and 875.50 GBX bottom also 875.50 minor day channel (very
major area) / 866 and
865.50 day bottoms also 863.40 GBX bottom and 862.30 day gap
(very major area)
/ 855.70 day bottom and 854.50 rev. peak
(very major area)
/ 845 rev. peak to 841.60 day gap
(very major area).
Comments:
The sell-off on Thursday from the major
resistance proved the significance of the area but prices
managed to hold the major support area, remaining and trading
inside the whole entire neutral area. A trade below 897
can bring prices down to challenge the 885 major weekly
support. A trade below 885 will be considered a
technical failure for prices to challenge the 876.50 - 875.50
area and possibly as low as the 855.70 - 841.60 gap area.
A trade today above 914.20 - 917 is slightly bullish but a
trade above 927 will be considered a breakout for higher
prices to follow. Remain defensive inside the 914 - 899
neutral trading range. NOTE:
A settling price on
Friday above 904.50 is slightly bullish and a close below
904.50 is slightly bearish for next week.
Day trades:
For the Dec. contract -
Aggressive traders can sell rallies near 904
- 907 area or buy dips near 902.50 - 900 area, whichever side
comes first to complete the trade. (Use a protective buy
stop at 910. Do not rev. long). (Use a sell stop
and rev. short at 896).
Aggressive traders can sell rallies near 914
- 917 area, if it gets there, for obj. near 910 - 909 area and
possibly near 908. (Use a buy stop and rev. long at
918.70).
Aggressive traders can attempt long positions
near 899 for obj. near 903 - 905 area. (Use a sell stop
and rev. short at 896).
Aggressive traders can attempt long positions
near 886.50 - 885 area for obj. near 892 and possibly near
894. (Use a sell stop and rev. short at 881).
Buy stop at 918.70 for obj. near 921.50 - 923
area.
Buy stop at 930.70 for obj. near 935 - 936.90
gap area and possibly near 939.
Buy stop at 943.70 for obj. near 945.50 -
947.50 area.
Sell stop at 896 for obj. near 894 - 892 area
and possibly near 891.
Sell stop at 889.50 for obj. near 886.50 -
885 area.
Sell stop at 881 for obj. near 877 - 875.50
area.
Sell stop at 871 for obj. near 867.50 -
865.50 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.
|
Results:
11/08/02
| Bought @
900.50
Sold @ 904
= + $ 875.00 |
|
Bought @
900
Sold @ 903 = +
$ 750.00 |
| Sold
@
896
Bought @ 893 = + $
750.00 |
|
TOTAL
(P & L) +
$2,375.00 |
The
week in review - 11/11/02 - 11/15/02
The Tech Guru's S & P Day
Trading Recommendations
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P -
For Monday
11-11-02 : NOTE: After
each support and resistance listed will designate a value - (very
major) holds the highest importance, then (major), (very
significant), and (significant) is of the least value. Very
aggressive trades - are trades that are against the
trend or a high dollar risk when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell stop inside a buy
area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter or
complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where stops ARE
NOT mentioned, they should be placed below the second
support area listed or above the second resistance
area listed, or 22 points from the (trade entry point),
whichever is the lesser amount. NOTE: The
first support area becomes the resistance after the
market trades through the second support area
listed. The first resistance area becomes the support
after the market trades through the second resistance area
listed.
Resistance: For
the Dec. contract -
893.50 intra-day gap and 894.50 intra-day
channel also 894.70 day channel (major area) / 897
peak and 897 intra-day channel (major area) / 901.50
and 904.70 peaks also 904 day channel (major area) /
909 peak and 910.50 day top (major area) / 917
day top and 919 major weekly channel (very
major area) / 923 minor weekly channel (major)
/ 925.50 and 926 day channels also 926.50 and
927 weekly tops (very major area)
/ 936.90 day gap and 941.20 weekly closing price (major area).
Support: For
the Dec. contract -
888.50 intra-day base and 885.40 day
session closing price (major area) / 877
minor day channel also 876.50 day bottom and 875.50 GBX bottom (very
major area) / 866 weekly bottom
and 865.50 day bottom also 863.40 GBX bottom and 862.30 day gap
(very major area) / 855.70
day bottom and 854.50 rev. peak (very
major area) / 845 rev. peak and
841.60 day gap (very major area).
Comments:
The sell-off and close
on Friday brought prices down below the previous Friday's close
leaving the chart in neutral to bearish condition. A trade below
877 - 875.50 area is bearish and can bring prices down to challenge
the 866 - 862.30 gap area and possibly near the 855.70 bottom and
841.60 gap. A trade above 904 is slightly bullish but only a
trade above 919 can reverse the momentum back to the upside. A
trade above 927 will be considered a breakout for higher prices to
follow. Remain defensive inside the 894 - 877 neutral range.
Day trades:
For the Dec. contract -
Aggressive traders can sell
rallies near 893 - 894 area and if possible near 897 for obj. near
888.50 - 886 area. (Use a protective buy stop at 900. Do
not rev. long).
Aggressive traders can buy
dips near 880 - 877 area for obj. near 885 - 887 area. (Use a
sell stop and rev. short at 872.50).
Buy stop at 912.20 for
obj. near 916 - 919 area.
Buy stop at 930 for obj.
near 935 - 936.90 gap area.
Sell stop at 872.50 for
obj. near 868 - 865 area and possibly near 862.30 gap.
Sell stop at 859.50 for
obj. near 856.50 - 854.50 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 11/11/02 (3:23 pm est)
To all new subscribers - We received a phone
call concerning the long position taken today at 880 and if the trade was
still in effect. Long positions were taken at 880 and met the obj. when
the market hit the double top at 884.30. The trade was complete at
884.
It is important for all day traders to know
that profits are to be taken as close as possible to the
obj. listed. When a trade is repeated in the same day session it
does increase the trade's risk. There is a 20% less of a chance for
the same trade to materialize the second time and a 40% less of a chance
for it to materialize the third time. Not to say it can't happen but
it should only be taken by very aggressive traders paying close attention
to the intra-day chart.
Results:
11/11/02
| Bought
@ 880
Sold @ 884
= + $1,000.00 |
| TOTAL
(P & L) +
$1,000.00 |
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P -
For Tuesday
11-12-02 : NOTE: After
each support and resistance listed will designate a value - (very
major) holds the highest importance, then (major), (very
significant), and (significant) is of the least value. Very
aggressive trades - are trades that are against
the trend or a high dollar risk when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell stop inside a buy
area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter or
complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where stops ARE
NOT mentioned, they should be placed below the second
support area listed or above the second resistance
area listed, or 22 points from the (trade entry point),
whichever is the lesser amount. NOTE: The
first support area becomes the resistance after the
market trades through the second support area
listed. The first resistance area becomes the support
after the market trades through the second resistance area
listed.
Resistance: For
the Dec. contract -
879 and 880.50 intra-day channels (major
area) / 883 intra-day channel also 882.70 and 884.30 peaks (major
area) / 886.50 and 887.30 peaks (major area)
/ 890 day top to 891.40 day gap (major area) /
893.70 GBX top and 894.50 day channel (major area)
/ 897 and 897.50 peaks also 897.50 minor day
channel (very major area)
/ 901.50 and 904.70 peaks (major area) / 909 peak
and 910.50 day top (major area) / 917
day top and 919 weekly channel (very
major area) / 922 day channel
and 925.70 day gap also 926.50 and 927 weekly tops (very
major area).
Support: For
the Dec. contract -
877.80 newly developed day channel and
876.50 intra-day channel (major area) / 874
base and minor day channel also 873 day bottom (very
major area) / 866 weekly
bottom and 865.50 day bottom also 863.40 GBX bottom and 862.30 day
gap (very major area)
/ 855.70 day bottom and 854.50 rev. peak
(very major area) / 847
is the 50% retracement from the 926.50 top to 767.50 bottom also 845
rev. peak and 841.60 day gap (very
major area) / 838.50 weekly closing price (major
area).
Comments:
The sell-off on
Monday brought prices down to a very critical support area. A
trade below 876.50 - 873 area can bring prices down to challenge the
866 and 855.70 bottom areas and possibly near the 50% retracement
from the 926.50 top and 767.50 bottom, which is at 847. A
trade today above 897 is slightly bullish but only a trade above 919
can bring any solid bullishness back to the chart. Remain
defensive inside the neutral area between 894 - 876.50.
Day trades:
For the Dec. contract -
Aggressive traders can sell
rallies near 883 or buy dips near 878, whichever side comes first to
complete the trade. (Use a buy stop and rev. long at 885).
(Use a sell stop and rev. short at 871).
Aggressive traders can buy
dips near 876 - 875 area for obj. near 883 - 885 area. (Use a
sell stop and rev. short at 871).
Aggressive traders can sell
rallies near 893 - 894 area and if possible near 897 for obj. near
889 - 887 area and possibly near 885. (Use a buy stop and rev.
long at 900.70).
Buy stop at 885 for
obj. near 887 - 890 area.
Buy stop at 900.70 for
obj. near 902 - 904 area.
Buy stop at 912.70 for
obj. near 917 - 919 area.
Sell stop at 871 for
obj. near 867 - 865 area and possibly near 862.30 gap.
Sell stop at 859.80 for
obj. near 856.80 - 854.50 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 11/12/02 (9:55 am est)
Short positions were taken at 883. The
sell-off down to 880 seems to be holding some support. Traders
should consider exiting the short position at the market and take
profits. The market is trading at 881 at this time.
Results:
11/12/02
| Sold
@
883
Bought @
881
= + $ 500.00 |
| Bought
@
885
Sold @
887
= + $ 500.00 |
| Sold
@ 892.50
Bought @
888
= + $1,125.00 |
| Sold @
894
Bought @ 885
= + $2,250.00 |
| TOTAL
(P & L)
+ $4,375.00 |
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S & P
- For Wednesday
11-13-02 : NOTE: After
each support and resistance listed will designate a value -
(very major) holds the highest importance, then (major), (very
significant), and (significant) is of the least value. Very
aggressive trades - are trades that are against
the trend or a high dollar risk when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell stop inside
a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter or
complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where stops
ARE NOT mentioned, they should be placed below the
second support area listed or above the second
resistance area listed, or 22 points from the (trade entry
point), whichever is the lesser amount. NOTE: The
first support area becomes the resistance after the
market trades through the second support area
listed. The first resistance area becomes the support
after the market trades through the second
resistance area listed.
Resistance:
For the Dec. contract -
886 peak and 886.50 day channel (major
area) / 891 day channel and 891.20
peak (very major area)
/ 894.50 day top and 897 intra-day peak (major area)
/ 904.70 intra-day peak (major) / 910.50 day top (major
area) / 917 day top and 919 weekly
channel also 920 day channel (very
major area) / 923 minor channel (major)
/ 925.70 day gap and 926.50 weekly top also
927 weekly top and 928.50 day top (very
major area) / 936.90 day gap and 941.20 weekly
closing price (major area).
Support: For
the Dec. contract -
884.40 newly developed minor day
channel and 884.30 base also 882 day channel (major area)
/ 880 intra-day channel also 879 base and 878.70 day bottom (major
area) / 877.80 day gap and 875.70
GBX bottom also 875 minor day channel (very
major area) / 873 day bottom (major)
/ 866 weekly bottom and 865.50 day bottom
also 863.40 GBX bottom and 862.30 gap (very
major area) / 855.70 day
bottom and 854.50 rev. peak (very
major area) / 847 is the 50%
retracement area also 845 rev. peak and 841.60 day gap (very
major area).
Comments:
The whiplashing
action on Tuesday proved both resistance and support in this area.
A trade today above 891 is slightly bullish and a trade above 897
can bring prices up to challenge the 919 major resistance. A
trade today below 878.40 is slightly bearish but a trade below 875
and also 873 can bring prices down to challenge the 866 - 862.30
gap area and possibly near the 50% retracement area, which is at
847. Remain defensive inside the 891 - 878.40 neutral range.
Day trades:
For the Dec. contract -
Aggressive traders can buy
dips near 879.50 - 878.50 area and if possible near 876 for obj.
near 885 - 886.50 area. (Use a sell stop and rev. short at
871).
Aggressive traders can sell
rallies near 889 - 891 area and if possible near 894 for obj. near
885 - 884 area. (Use a buy stop and rev. long at 898.70).
Sell stop at 871 for
obj. near 867 - 865 area and possibly near 862.30 gap.
Sell stop at 859.80
for obj. near 856.80 - 855.70 area.
Sell stop at 851 for
obj. near 847 - 845 area.
Buy stop at 898.70
for obj. near 901.50 - 904 area.
Buy stop at 912.70
for obj. near 916 - 919 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.
|
Results:
11/13/02
| Bought
@ 879 Sold @ 871
= - $2,000.00 |
| Sold
@ 871
Bought @ 881 =
- $2,000.00 |
| Sold @
889 Bought @
884.50 = + $1.125.00 |
| TOTAL
(P & L) -
$2,875.00 |
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Thursday
11-14-02 : NOTE: After
each support and resistance listed will designate a value
- (very major) holds the highest importance, then (major),
(very significant), and (significant) is of the least
value. Very aggressive
trades - are trades that are against the
trend or a high dollar risk when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell stop
inside a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to
enter or complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where
stops ARE NOT mentioned, they should be placed below
the second support area listed or above the
second resistance area listed, or 22 points from the (trade
entry point), whichever is the lesser amount. NOTE: The
first support area becomes the resistance
after the market trades through the second
support area listed. The first resistance
area becomes the support after the market trades
through the second resistance area
listed.
Resistance:
For the Dec. contract -
886.50 minor day channel (major)
/ 889 peak and intra-day channel also
890.50 minor day channel and 891 intra-day channel and peak
(very major area)
/ 892.50 and 894.50 day tops (major area) /
897 and 897.50 intra-day tops also 898.50 weekly closing
price (major area) / 904.70 peak (major)
/ 910.50 day top (major) / 914.20 peak (major)
/ 917 day top and 919 weekly channel
also 919 day channel (very
major area) / 922.50 minor day channel (major)
/ 925.70 day gap also 926.50 and 927
weekly tops (very major
area) / 936.90 day gap and 941.20 weekly
closing price (major area).
Support: For
the Dec. contract -
881 base and 880.80 rev. peak (major
area) / 878.80 and 878 intra-day gaps and 878 base (major
area) / 876.50 intra-day gap
also 875.50, 874.50 and 874 bases also 874.50 newly
developed major day channel (very
major area) / 871 minor day channel and
870.50 day bottom (major area) / 866
weekly bottom and 865.50 day bottom also 863.40 GBX bottom
and 862.30 day gap (very
major area) / 855.70
day bottom and 854.50 rev. peak (very
major area) / 847 50%
retracement area also 845 rev. peak to 841.60 day gap (very
major area).
Comments:
The
whiplashing action on Wednesday managed to close the market
slightly higher and also managed to develop a supportive
chart formation to stimulate rallies. A trade above
889 - 891 area is slightly bullish but a trade above 897 -
898.50 area can bring prices up to challenge the 919
major resistance. A trade above 919 will be considered
a breakout for higher prices to follow. A trade below
881 - 878 area is slightly bearish but a trade below 874.50
channel and 870.50 bottom will fail the major support for
lower prices to follow. Remain defensive inside the
897 - 874.50 trading range.
Day
trades: For the Dec. contract -
Aggressive traders can
sell rallies near 891 - 894 area and if possible
near 897 for obj. near 886 - 882 area. (Use a buy stop
and rev. long at 900.50).
Aggressive traders can
buy dips near 882 - 878 area and if possible near
874.50 for obj. near 887 - 889 area and possibly near 891.
(Use a sell stop and rev. short at 868.80).
Buy stop at
900.50 for obj. near 904 and possibly near 906.
Buy stop at
911.70 for obj. near 914 and possibly near 917 - 919 area.
Buy stop at
930.50 for obj. near 935 - 936.90 gap area.
Aggressive traders can
attempt short positions near 917 - 919 area for
obj. near 910 - 907 area. (Use a buy stop and rev.
long at 930.50). (Conservative traders can use a buy
stop at 923.70. Do not rev. long).
Sell stop at
868.80 for obj. near 862.30 gap area.
Sell stop at
859.80 for obj. near 856.80 - 854.80 area.
Sell stop at
851 for obj. near 847.
|
*
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 11/14/02 (9:55 am est)
Short positions were taken at 896.50.
It is possible for the market to treat the 891 resistance as support
at this time. It is recommended for traders to take profits near
893.50 - 892 area before the market turns against the trade.
Bulletin - Originally
sent 11/14/02 (1:36 pm est)
Long positions were taken on a stop at
900.50. The market is struggling at this point to meet the
obj. at 904. The high at 903 seems worthy enough to consider
taking profits. Exit the trade at this time. The market
is trading at 902.50.
Results:
11/14/02
| Sold
@
896.50
Bought @ 893.80 = + $ 675.00 |
| Sold @
900.50 Bought @
902.50 = + $ 500.00 |
| TOTAL
(P & L)
+ $1,175.00 |
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Friday
11-15-02 : NOTE: After
each support and resistance listed will designate a value -
(very major) holds the highest importance, then (major),
(very significant), and (significant) is of the least value.
Very aggressive trades -
are trades that are against the trend or a high dollar risk
when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell stop
inside a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter
or complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where
stops ARE NOT mentioned, they should be placed below
the second support area listed or above the
second resistance area listed, or 22 points from the (trade
entry point), whichever is the lesser amount. NOTE: The
first support area becomes the resistance after
the market trades through the second support area
listed. The first resistance area becomes the support
after the market trades through the second
resistance area listed.
Resistance:
For the Dec. contract -
904.50 minor day channel and 905
day top (major area) / 909 intra-day peak and
910.50 day top (major area) / 914.20 peak (major)
/ 917 day top and 919 weekly
channel also 917.50 day channel (very
major area) / 922 minor channel (major)
/ 925.70 day gap also 926.50 and 927
weekly tops (very major
area) / 936.90 day gap and 939 minor day
channel also 941.20 weekly closing price (major)
/ 947.80 day session closing price (major area)
/ 956.50 weekly top (very
major area) / 960 weekly
channel (very major area).
Support: For
the Dec. contract -
901.50, 900.50 intra-day channel
also 901.20 base (major area) / 899.50 and
898.30 bases (major area) / 894.70 and 893.30
bases and 892.80 day bottom (major area) /
885.70 day gap (major area) / 879
major day channel (very
major area) / 872 minor
day channel and 870.50 weekly bottom (very
major area) / 866 weekly
bottom and 865.50 day bottom also 863.40 GBX bottom and 862.30
day gap (very major area)
/ 855.70 day bottom (very
major area).
Comments:
The rally on
Thursday from the support area developed as expected bringing
prices up near critical resistances. A trade above 909 -
910.50 area can bring prices up to challenge the 919 weekly
resistance, which can possibly put a lid on rallies for a
while. A trade above 919 will be considered a breakout
for higher prices to follow. A trade today below 892.80
is slightly bearish but only a trade below 879 can bring any
solid bearishness back to the chart. Remain defensive
inside the 909 - 892.80 trading range. NOTE:
A close on Friday above
912 will put bullish condition in the chart for next week.
A close on Friday below 890 will leave bearish conditions in
the chart for next week.
Day trades:
For the Dec. contract -
Aggressive traders can buy
dips near 901 - 898.30 area and if possible near 896 for obj.
near 905 and possibly near 909. (Use a sell stop and
rev. short at 889).
Aggressive traders can
sell rallies near 916 - 919 area for obj. near 912
and possibly near 910.50. (Use a buy stop and rev. long
at 923.20).
Aggressive traders can buy
dips near 881 - 879 area for obj. near 885 - 887 area and
possibly near 889. (Use a sell stop and rev. short at
876).
Sell stop at 889
for obj. near 885.50 and possibly near 881.
Sell stop at 876
for obj. near 873 - 870.50 area.
Sell stop at 868
for obj. near 862.30 gap area and possibly near 860.
Sell stop at 853
for obj. near 847 - 845 area.
Buy stop at
912.70 for obj. near 916 - 919 area.
Buy stop at
923.20 for obj. near 925.70 - 927 area.
Buy stop at
930.50 for obj. near 934 - 936.90 gap 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 11/15/02 (9:46 am est)
Long positions were taken at 895.
The rally up to 901.20 seems worthy enough to take profits and
exit the trade instead of waiting for 905 obj.
Bulletin -
Originally sent 11/15/02 (9:46 am est)
The market is trading at 900 at
this time. Exit all long positions at the market.
Results:
11/15/02
| Bought @
895 Sold @
900 = + $1,250.00 |
| TOTAL
(P & L)
+ $1,250.00 |
The week in review - 11/18/02
- 11/22/02
The Tech Guru's S & P Day
Trading Recommendations
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P -
For Monday
11-18-02 : NOTE: After
each support and resistance listed will designate a value - (very
major) holds the highest importance, then (major), (very
significant), and (significant) is of the least value. Very
aggressive trades - are trades that are against
the trend or a high dollar risk when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell stop inside a buy
area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter or
complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where stops ARE
NOT mentioned, they should be placed below the second
support area listed or above the second resistance
area listed, or 22 points from the (trade entry point),
whichever is the lesser amount. NOTE: The
first support area becomes the resistance after the
market trades through the second support area
listed. The first resistance area becomes the support
after the market trades through the second
resistance area
listed.
Resistance: For
the Dec. contract -
910.50 double day
top and 911.30 major weekly channel (very
major area) / 914.40 day
channel and 915.80 GBX channel also 917 day top (very
major area) / 919.30 weekly
channel also 920.80 and 921.30 day channels (very
major area) / 925.70 day gap
also 926.50 and 927 weekly tops also 929 minor weekly channel
(very major area) / 936.60
minor weekly channel also 936.90 day gap and 937.50 long-term minor
day channel (very major area)
/ 941.20 weekly closing price (major) / 947 day
session closing price (major) / 956
GBX weekly channel and 956.30 weekly top (very
major area) / 961.40 day gap
and 965.10 weekly top also 966 major weekly top (very
major area).
Support: For
the Dec. contract -
908 base and intra-day channel and
906.50 day channel also 905.50 and 905.10 base areas (major
area) / 900.50 base (major) / 896.30 base
and 896.20 minor day channel (major area) / 894.50
and 892.80 day bottoms also 891.10 weekly channel (very
major area) / 885.70 day gap
and 883.50 major day channel (very
major area) / 881 GBX bottom (major)
/ 873 minor day channel and 870.50 weekly
bottom (very major area)
/ 866 weekly bottom and 865.50 day bottom also
863.40 GBX bottom and 862.30 day gap (very
major area) / 855.70 day
bottom and 854.50 rev. peak (very
major area).
Comments:
The market closed up
on Friday again for the fourth day in a row, leaving the chart in
neutral to slightly bullish condition. The market faces very
major resistances, first at 911.30 and again at 915.80, 919.30 and
921.30. A trade above 921.30 is bullish and can trade above
the 927 top area for prices to challenge the 936.90 gap and possibly
up near the 956 - 966 top area. A trade below 896.20 is
slightly bearish but a trade below 891.10 can bring prices down to
challenge the 883.50 - 881 area and possibly near the 873 - 870.50
bottom area. Remain defensive inside the 919.30 - 896.30
neutral range.
Day trades:
For the Dec. contract -
Aggressive traders can sell
rallies near 915 - 919 area for obj. near 911 - 909 area and
possibly near 906.50. (Use a buy stop and rev. long at
923.50).
Aggressive traders can buy
dips near 897 - 895 area and if possible 893 for obj. near 904
- 906 area. (Use a sell stop and rev. short at 888).
Buy stop at 923.50 for
obj. near 925.70 gap - 927 top area.
Buy stop at 930.70 for
obj. near 935 - 936.90 gap area.
Sell stop at 888 for
obj. near 885.70 gap and possibly near 883.50.
Sell stop at 878 for
obj. near 875 - 873 area.
Sell stop at 868.50 for
obj. near 863 - 862.30 gap 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 prior to the morning report
It is recommended for
traders to sell the 915 - 919 area for obj. near 908 and possibly near
906. Use a buy stop and rev. long at 923.50 for an obj. near
925.70 gap area.
Bulletin
- Originally sent 11/18/02 (9:46 am est)
This is a follow up to
the first daily bulletin - The 908 obj. is a mid-range obj.
The first trade will be considered complete on a sell off near 911.
Day traders can consider taking profits near 911 for the first
trade.
Bulletin
- Originally sent 11/18/02 (9:50 am est)
Short positions were
taken at 916. The sell off down to 912 is making signs of
support for short positions to consider taking profits and exit
the trade at this time. The market is trading at 912.
Results:
11/18/02
| Sold @
916
Bought @ 912 = + $1,000.00 |
| TOTAL
(P & L)
+ $1,000.00 |
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Tuesday
11-19-02 : NOTE: After
each support and resistance listed will designate a
value - (very major) holds the highest importance, then
(major), (very significant), and (significant) is of the
least value. Very
aggressive trades - are trades that are
against the trend or a high dollar risk when wide stops
are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell
stop inside a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to
enter or complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where
stops ARE NOT mentioned, they should be placed below
the second support area listed or above
the second resistance area listed, or 22 points from
the (trade entry point), whichever is the
lesser amount. NOTE: The
first support area becomes the resistance
after the market trades through the second
support area listed. The first resistance
area becomes the support after the market trades
through the second resistance area
listed.
Resistance:
For the Dec. contract -
900.50 intra-day channel (major)
/ 902.50, 903 and 905.20 peaks (major area)
/ 907.50 and 908 peaks also 908
intra-day channel (very
major area) / 910.80 and 913.50 peaks (major
area) / 916.70 day top and
917.50 GBX top also 915.50 day channel and 916.50 GBX
channel (very major
area) / 919 weekly
channel and 920 day channel (very
major area) / 925.70
day gap also 926.50 and 927 weekly tops (very
major area) / 936
long-term minor day channel also 936.60 minor GBX weekly
channel and 936.90 day gap (very
major area) / 941.20 weekly closing price (major)
/ 947 day session closing price (major) /
956 minor weekly channel and 956.30
weekly top (very
major area).
Support: For
the Dec. contract -
897.90 minor day channel also
897.50 intra-day gap and 896.30 base (major area)
/ 894.50 and 892.80 day bottoms also
891.10 weekly channel (very
major area) / 887.50
major day channel and 885.70 day gap (very
major area) / 881 GBX bottom (major)
/ 874 minor day channel and 870.50
weekly bottom (very
major area) / 866
weekly bottom and 865.50 day bottom also 863.40 GBX bottom
and 862.30 day gap (very
major area) / 855.70
day bottom and 854.50 rev. peak (very
major area).
Comments:
The
sell-off on Monday from the major resistance proved the
significance of the area but managed to hold above the
major support area at 897 and 891.10, leaving the chart in
neutral condition. A trade today above 908 is
slightly bullish but a trade above 919 - 920 area will be
considered a breakout for higher prices to follow. A
trade below 891.10 is bearish and a trade below 887.50 -
885.70 gap can bring prices down to challenge the 874
- 870.50 bottom area and possibly near the 862.30 gap
area. Remain defensive inside the 919 - 891.10
neutral area.
Day
trades: For the Dec. contract -
Aggressive traders can
buy dips near 898 and sell rallies near 900.50,
whichever side comes first to complete the trade.
(Use a buy stop and rev. long at 901.50). (Use a
sell stop and rev. short at 895.50).
Aggressive traders can
buy dips near 892.50 and if possible near 891.50
for obj. near 897 and possibly near 899. (Use a sell
stop and rev. short at 889).
Aggressive traders can
sell rallies near 905 - 907 area for obj. near
902 - 901 area. (Use a buy stop and rev. long at
911.20).
Buy stop at
901.50 for obj. near 904 - 905 area and possibly near 907.
Buy stop at
911.20 for obj. near 916 - 919 area.
Buy stop at
922 for obj. near 925.70 gap and possibly near 927 top.
Buy stop at
930 for obj. near 935 - 936 area.
Sell stop at
895.50 for obj. near 892.50 - 891.50 area.
Sell stop at
889 for obj. near 887 - 885.70 gap area.
Sell stop at
879 for obj. near 875 - 872 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 11/19/02 (9:39 am est)
The sell stop
was hit at 895.50 putting traders into short positions.
The sell off down to 892.90 is close enough to the 892.50
obj. and completes the trade. Traders still in short
positions should exit immediately. Long positions
can be considered in this area. Continue to use the
sell stop and rev. short at 889.
Bulletin
- Originally sent 11/19/02 (1:20 pm est)
901.50 buy stop
was hit and met the obj. at 904 to complete the trade.
The rally up to
905 put traders into short positions. The sell-off down to
902.50 satisfies the obj. of 902 that completes the trade.
The market is not worth being short at this time because
there is too much strength shown from the support level.
Results:
11/19/02
| Sold
@
895.50
Bought @ 893.50 = +
$
500.00
Bought as per bulletin |
| Bought
@ 893.50 Sold @
897
= + $
875.00
Bought as per bulletin |
| Bought
@ 901.50 Sold @
904
= + $ 625.00 |
| Sold @
905 Bought @
902.50 = + $
625.00 |
| TOTAL
(P & L)
+ $2,625.00 |
A TECHNICAL
GUIDE FOR DAY TRADING THE S & P
S
& P - For Wednesday
11-20-02 : NOTE: After
each support and resistance listed will designate a
value - (very major) holds the highest importance,
then (major), (very significant), and (significant)
is of the least value. Very
aggressive trades - are trades that
are against the trend or a high dollar risk when
wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell
stop inside a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade
to enter or complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only.
Where stops ARE NOT mentioned, they should be
placed below the second support area listed or
above the second resistance area listed, or
22 points from the (trade entry point),
whichever is the lesser amount. NOTE: The
first support area becomes the resistance
after the market trades through the second
support area listed. The first
resistance area becomes the support after the
market trades through the second
resistance area listed.
Resistance:
For the Dec. contract -
901 and 903.30 peaks also
903.70 intra-day channel (major area)
/ 906 day top and 908.90 weekly close (major
area) / 910.80 intra-day peak (major)
/ 913.50 peak also 913.50 and 914.50 day channels (major
area) / 916.70 day top
and 917.50 GBX top also 919 weekly channel and day
channel (very
major area) / 925.70
day gap also 926.50 and 927 weekly tops (very
major area) / 935
long-term minor day channel also 936.60 minor GBX
weekly channel and 936.90 day gap (very
major area) / 941.20 weekly closing
price (major) / 947 day session
closing price (major) / 956
minor weekly channel and 956.30 weekly top (very
major area).
Support: For
the Dec. contract -
898 newly developed day
channel also 897.20 and 895.70 base (major
area) / 892.50 day
bottom and 891.10 weekly channel also 891.50 major day
channel (very
major area) / 885.70 day gap (major)
/ 881 GBX bottom (major) / 874.50
minor day channel and 872.70 minor weekly channel also 870.50
weekly bottom (very
major area) / 866
weekly bottom and 865.50 day bottom also 863.40 GBX
bottom and 862.30 day gap (very
major area) / 855.70
day bottom and 854.50 rev. peak (very
major area).
Comments:
Tuesday's session remained inside the neutral trading
range and technically not showing any solid
direction. A trade above 919 will be considered
a breakout for higher prices to follow. A trade
below 891.10 is bearish but a trade below 872.70 -
870.50 area will fail the major support and can bring
prices down to challenge the 862.30 gap and possibly
near the 50% retracement area of 847. Remain
defensive inside the 913.50 - 891.10 neutral trading
range.
Day
trades: For the Dec. contract -
Aggressive traders
can buy dips near 895 - 892 area and if
possible near 891.10 for obj. near 898 - 900 area and
possibly near 901. (Use a sell stop and rev.
short at 888).
Aggressive traders
can sell rallies near 917 - 919 area for obj.
near 910.50 and possibly near 908.50. (Use a buy stop
and rev. long at 922.20).
Sell stop
at 888 for obj. near 885.70 - 884 area and possibly
near 883.
Sell stop
at 868.30 for obj. near 865 - 862.30 gap area.
Sell stop
at 851 for obj. near 847 - 845 area.
Buy stop
at 904 for obj. near 906 - 908 area and possibly near
910.
Buy stop
at 922.20 for obj. near 925.70 gap area and possibly
near 927 top.
Buy stop
at 930.30 for obj. near 935 - 936.90 gap 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 11/20/02 (9:41 am est)
Long positions
were taken at 895. The rally up to 897.50 is near
enough to the obj. of 898, which completes the trade.
Bulletin
- Originally sent 11/20/02 (9:51 am est)
Since the
891.10 area is such a significant support, long
positions can be attempted again at the 895 - 892 area
with an obj. of 898. Continue to use a sell stop
and rev. short at 888.
Bulletin
- Originally sent 11/20/02 (11:52 am est)
The buy stop
was hit at 904 putting traders into long positions.
The rally up to 906 meets the obj. to complete the
trade.
Results:
11/20/02
| Bought
@ 894.50 Sold @
897.20 = + $
675.00 |
| Bought
@ 895 Sold @
898 = + $
750.00 |
| Bought
@
904
Sold @
906
= + $ 500.00 |
| TOTAL
(P & L)
+ $1,925.00 |
A TECHNICAL
GUIDE FOR DAY TRADING THE S & P
S
& P - For Thursday
11-21-02 : NOTE: After
each support and resistance listed will designate
a value - (very major) holds the highest
importance, then (major), (very significant), and
(significant) is of the least value. Very
aggressive trades - are trades
that are against the trend or a high dollar risk
when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a
sell stop inside a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade
to enter or complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only.
Where stops ARE NOT mentioned, they should be
placed below the second support area
listed or above the second
resistance area listed, or 22 points from the (trade
entry point), whichever is the lesser
amount. NOTE: The
first support area becomes the resistance
after the market trades through the second
support area listed. The first
resistance area becomes the support after
the market trades through the second
resistance area listed.
Resistance:
For the Dec. contract -
919
weekly channel and 919.50 day channel (very
major area) / 925.70
day gap also 926.50 and 927 weekly tops (very
major area) / 933.50
long-term minor day channel and 936.60 minor GBX
weekly channel also 936.90 day gap (very
major area) / 941.20 weekly closing
price (major) / 947.80 day
session closing price (major) / 956
minor weekly channel and 956.30 weekly top (very
major area) / 961.40
day gap and 965.10 Dec. contract weekly top also 966
major weekly top (very
major area).
Support: For
the Dec. contract -
917.40 intra-day channel
(major) / 916 base also 915.50 rev.
peak and 914.50 intra-day gap (major area)
/ 910.30 and 909.80 rev. peaks also 908.50 intra-day
channel and 908.30 and 907.20 base (major
area) / 901.50 base (major)
/ 898 minor day channel and
896 day channel (very
major area) / 894.50
minor day channel and 894 day bottom also 893.40 GBX
bottom and 892.50 day bottom (very
major area) / 885.70 day gap (major)
/ 881 GBX bottom (major) / 875.50
and 873.50 minor day channels (very
major area) / 870.50
weekly bottom (very
major).
Comments:
The
rally from the major support area proved the
significance of the area as expected. The
market now faces the challenge of trading above the
927 major weekly double top area. A trade
above 927 will confirm a breakout above the major
resistance areas for prices to challenge the 936.90
gap and 966 major top areas. A trade
below 907.20 today is slightly bearish but only a
trade below 898 - 896 area can bring any solid
bearishness back to the chart. Remain
defensive inside the 927 - 907 trading range.
Day
trades: For the Dec. contract -
Aggressive
traders can buy dips near 916 - 914.50 area
for obj. near 919 and possibly near 923. (Use
a protective sell stop at 911.80. Do not rev.
short). (Aggressive traders can use a sell stop and
rev. short at 907).
Sell
stop at 907 for obj. near 902.50 - 901.50 area.
Aggressive
traders can consider long positions near
899 - 897 area, if it gets there, for obj. near 905
- 908 area. (Use a sell stop and rev. short at
889).
Sell
stop at 889 for obj. near 885.70 gap and possibly
near 883 - 881 area.
Sell
stop at 868 for obj. near 862.30 gap area and
possibly near 860.
Buy
stop at 923.70 for obj. near 925.70 gap area and
possibly near 926.50 - 927 top area.
Buy
stop at 930 for obj. near 933.50 - 936 area.
Buy
stop at 943.70 for obj. near 947 and possibly near
949 - 951 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 11/21/02 (11:26 am est)
Long
positions were taken at 930 buy stop. The double
top at 932 and 932.30 is proving resistance for
traders to consider exiting the long positions at the
market. The market is trading at 930.50 at this
time.
Results:
11/21/02
| Bought
@ 923.70
Sold @ 926
= + $ 575.00 |
| Bought
@
930
Sold @ 930.50 = + $
125.00 |
| TOTAL
(P & L)
+ $
700.00 |
A
TECHNICAL GUIDE FOR DAY TRADING THE S
& P
S
& P - For Friday
11-22-02 : NOTE: After
each support and resistance listed will
designate a value - (very major) holds the
highest importance, then (major), (very
significant), and (significant) is of the
least value. Very
aggressive trades - are trades
that are against the trend or a high dollar
risk when wide stops are used. "The
Golden Rule"
- Do not use a buy stop
inside a sell area or a sell stop inside
a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any
trade to enter or complete a trade.
Special
instructions for using stops -
All stops
listed are for the day session only.
Where stops ARE NOT mentioned, they should
be placed below the second support
area listed or above the second
resistance area listed, or 22 points from
the (trade entry point), whichever is
the lesser amount. NOTE: The
first support area becomes the resistance
after the market trades through the second
support area listed. The first
resistance area becomes the support
after the market trades through the second
resistance area listed.
Resistance:
For the Dec. contract -
936.10
intra-day channel also 936.20 peak and 936.50
top also 936.60 minor GBX weekly channel and
936.90 day gap (very
major area) / 939.60 rev.
channel, 941.20 weekly closing price (major)
/ 947.80 day session
closing price and 948 weekly upper channel
(very major)
/ 956 minor weekly channel
and 956.30 weekly top (very
major area) / 961.40
day gap and 965.10 Dec. contract's weekly top
also 966 major weekly top
(very major area) /
979.10 day session closing price and 981 day top
(major area) / 992
weekly closing price and 994 weekly top (very
major area).
Support:
For the Dec. contract -
934.70 and 933.70
intra-day bases (major area) /
930.50 intra-day channel (major)
/ 928.50 and 927 base (major area)
/ 925.50 intra-day channel
and 925.20 base (very
major area) / 921.50
base and 919 day bottom also 918.70 day gap
(very major area) /
915.50 rev. peak (major) /
908.90 weekly closing price and 907.20 base (major
area) / 902.50
minor day channel and 900 major day channel
(very major area) / 894
day bottom and 893.40 GBX bottom also 892.50 day
bottom and 891.10 weekly channel (very
major area).
Comments:
The rally on Thursday brought prices up to a
very critical resistance, which can possibly
hold back rallies. A trade above the
936.60 - 936.90 area will challenge the 941.20
weekly close and possibly near the 948 - 956
major area. The 956 resistance is
significant and can prove to hold back any
further rallies for a while. A trade today
below 925.50 - 925.20 area is slightly bearish
but a trade below 918.70 - 915.50 area can
possibly bring prices down to challenge the
902.50 - 900 area again, which can prove to be
supportive enough to stimulate rallies, if it
gets there. Remain defensive inside the
936 - 925.50 trading range.
Day
trades: For the Dec. contract -
Aggressive
traders can buy dips near 931 - 930.50
for obj. near 933.50 - 935 area. (Use a
protective sell stop at 928. Do not rev.
short).
Aggressive
traders can buy dips near 926 - 925.50
area for obj. near 930 - 930.50 area. (Use
a sell stop and rev. short at 924).
Aggressive
traders can sell rallies near 936 -
939 area for obj. near 932 - 930.50 area.
(Use a buy stop and rev. long at 943.70).
Buy
stop at 943.70 for obj. near 947 - 948 area.
Sell
stop at 924 for obj. near 922 - 921.50 area.
Sell
stop at 912.50 for obj. near 909 - 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 11/22/02 (9:33 am est)
Long
positions were taken at 929.50. Aggressive
traders can hold long positions using a sell stop
and rev. short at 924 canceling the 928 protective
sell stop. Aggressive traders can add to long
positions at 926 - 925.50 area.
Bulletin
- Originally sent 11/22/02 (9:43 am est)
Long
positions were taken at 929.50. The market
seems to be struggling in this area for new highs.
It is recommended to change the obj. from 933.50
down to 932.50 to exit the trade.
Bulletin
- Originally sent 11/22/02 (10:15 am est)
The
rally up to 935.20 is considered near the 936 area
where short positions are being taken.
Bulletin
- Originally sent 11/22/02 (10:24 am est)
Short
positions were taken at 934.50. The sell-off
down to 932 completes the trade.
Results:
11/22/02
| Bought
@ 929.50
Sold @ 932.50
= + $ 750.00 |
| Sold
@ 934.50 Bought @
932 = + $
625.00 |
| TOTAL
(P & L)
+ $1,375.00 |
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.
|
