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Archived S & P Daily Reports

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

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The week in review - 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
 
    thetechguru.com 
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
 
    thetechguru.com 
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
 
    thetechguru.com 
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
 
    thetechguru.com 
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
 
    thetechguru.com 
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
 
    thetechguru.com 
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"