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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 - 11/25/02 - 11/29/02
The Tech Guru's S & P Day
Trading Recommendations
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Monday
11-25-02 : 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 -
929.50 and 930.30
intra-day channels (major area)
/ 930.50 and 931 weekly
channels also 931, 931.60 and 932 peaks also
933.50 intra-day gap (very
major area) / 935.30
and 936.50 peaks also 937.50 weekly top
(very major
area) / 941.20 weekly closing
price (major) / 947.80
day session close and 949 GBX weekly channel
(very major
area) / 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 -
927.50 day bottom (major)
/ 923.20 and 921.50 bases (major area)
/ 919 day bottom and
918.70 day gap also 916.40 GBX bottom and
916.30 weekly channel (very
major area) / 911.70
major weekly channel
(very major) / 907.50
minor day channel and 907.20 base also 904.50
major day channel (very
major area) / 896.50 minor
weekly channel also 894 weekly bottom and
893.40 GBX bottom (major area)
/ 885.70 day gap (major) /
881 GBX bottom (major) / 877
minor day channel and 875 minor weekly channel
(very major
area).
Comments:
On Friday, the market closed up for the second
week in a row leaving the chart in bullish
territory. The sell-off from the
resistance on Friday can stimulate some
selling pressure down near the support area
before any further rallies can develop.
A trade above 941.20 can bring prices up to
challenge the 949 channel resistance and
possibly near the 956 - 965.50 top areas.
A trade below 927.50 is slightly bearish but a
trade below 919 - 916.30 can bring prices down
to challenge the 911.70 major support area.
A trade below 911.70 will fail the major
weekly channel for lower prices to follow.
Remain defensive inside the 933.50 - 916.30
neutral trading range.
Day
trades:
For the Dec. contract -
Aggressive
traders can buy dips near 929.50 -
927.50 area or sell rallies near 932.50 -
933.50 area, whichever side comes first, to
complete the trade. (Use a sell stop and
rev. short at 925.30). (Use a buy stop
and rev. long at 934.50).
Aggressive
traders can buy dips near 918.70 -
916.50 area for obj. near 923 - 925 area and
possibly near 926. (Use a sell stop and
rev. short at 910). (Conservative
traders can use a protective sell stop at
914.80. Do not rev. short).
Buy
stop at 934.50 for obj. near 936 and possibly
near 937.
Buy
stop at 943.70 for obj. near 947 - 949 area.
Sell
stop at 925.30 for obj. near 923.50 - 921.50
area and possibly near the 918.70 gap - 916.30
major support.
Sell
stop at 910 for obj. near 908 - 907.20 area
and possibly near 906.
Bulletin - Originally sent 11/25/02 (10:09 am est) The buy stop was hit
at 934.50 putting traders into long positions. the rally
up to the 935 and 935.20 double top completes the trade.
Results:
11/25/02 *
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 11/26/02 (10:01 am est)
Long positions were taken on the opening at 925.50. The rally up to the 928.30 seems to be showing resistance at this time for long positions to consider exiting the trade and taking profits. The market is trading at 928.30 at this time. Bulletin - Originally sent 11/26/02 (11:07 am est) Long positions were taken on a sell-off down to 917, which is near enough to 916.70. Long positions can also be added on a sell-off near 912.50 - 911.70 area. Continue to use a stop and rev. short at 906. Bulletin - Originally sent 11/26/02 (11:59 am est) Long positions were taken at 917.50. The rally up to 922 meets the obj. at 921.50 to complete the trade. Aggressive traders can now buy dips near 912.50 - 911.70 area, if it gets there for obj. near 916 and possibly near 918. Continue to use a sell stop and rev. short at 906. Bulletin - Originally sent 11/26/02 (3:50 pm est) The sell-off down to 913
put traders into long positions, which is near enough to 912.50.
The obj. is to exit near 916. Continue to use a sell stop and
rev. short at 906.
Results:
11/26/02
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Wednesday
11-27-02 : NOTE: After
each support and resistance listed will designate a value -
(very major) holds the highest importance, then (major),
(very significant), and (significant) is 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 -
916 and 917
intra-day channel also 918.30 peak (major
area) / 919.50 peak and 919.70 day
channel also 920.70 peak (major area)
/ 922.50 and 924.50 peaks (major area)
/ 927.50 GBX channel and
928.50 day top also 929.70 day gap (very
major area) / 932.40 GBX top (major)
/ 935.80 peak and 936
day channel also 937.30 and 937.50 weekly tops
(very
major area) / 940 upper
channel and 941.20 weekly close (major
area) / 947.80
day session close and 949 GBX weekly channel
(very major
area).
Support: For
the Dec. contract -
910.70
bottom and 910 minor day channel also 908.90
weekly closing price (very
major area) / 900
and 898.10 day session closing prices also
899.50 minor channel (very
major area) / 893.40 GBX
bottom and 892.50 day bottom (major
area) / 885.70 day gap and 881 GBX
bottom (major area) / 878.50
and 875 minor day channels (very
major area) / 870.50
weekly bottom (very
major) / 866
weekly bottom to 862.30 day gap (very
major area).
Comments:
The sell-off on Tuesday brought prices down to
a very critical support area. A trade
below 910 - 908.90 area will fail the major
support for prices to challenge the 892.50
bottom and 885.70 gap area. A trade
below 878.50 and 875 is a technical failure
and can bring prices down to the 50%
retracement area at 852.50 and possibly near
the 841.60 gap area. A trade today above
919.70 is slightly bullish but only a trade
above 927.50 - 929.70 area can bring any solid
bullishness back to the charts. Remain
defensive inside the 927.50 and 910 trading
range.
Day
trades:
For the Dec. contract -
Aggressive
traders can sell rallies near 919 -
920 area and again if possible near 924 - 927
area for obj. near 913.50. (Use a
protective buy stop at 933.30. Do not
rev. long).
Aggressive
traders can attempt long positions
near 913.50 - 910.50 area for obj. near 917 -
919 area. (Use a sell stop and rev.
short at 906).
Sell
stop at 906 for obj. near 901 - 898 area.
Sell
stop at 889 for obj. near 885.70 to 881 area.
Buy
stop at 943.30 for obj. near 947 - 949 area.
Bulletin - Originally sent 11/27/02 (10:48 am est) The market rallied hitting the 933.30 protective stop. At this time, the market is showing resistance for short positions to be re-entered. It is recommended for short positions to be taken at the 932 to 934 area for an obj. near 919 and possibly near 913. Continue to use a buy stop and rev. long at 943.50. Bulletin - Originally sent 11/27/02 (3:55 pm est) The market is
showing too much strength at this level to hold short positions.
It is recommended to exit all short positions at the market
and cut losses. The market is trading at 940 at this time.
Results:
11/27/02
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Friday
11-29-02 : 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 -
941.20
weekly closing price and 943 weekly minor
upper channel (very
major area) / 947.80
day session closing price and 949 GBX weekly
channel (very
major area) / 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) / 991 and
992 weekly closing prices also 993.80, 994 and
995.80 weekly tops (very
major area) / 1015
major channel (very
major area).
Support: For
the Dec. contract -
938.60 day session
channel and 938 closing price also 937
intra-day channel and 937, 936.20, 936 base
areas (major area) / 935.30
and 934.20 base areas (major area)
/ 932 and 931.70 base area also 930.50
intra-day gap (major area) /
926.70 base (major) / 922
base and 921.50 day channel also 920 day
bottom (very
major area) / 916.50 minor GBX
channel (major) / 911.50
day gap and 910.70 day bottom also 908.90
weekly closing price (very
major area) / 901.50 minor
channel and 898.10 day session closing price (major
area) / 893.40
GBX bottom and 892.50 weekly bottom (very
major area).
Comments:
The rally on Wednesday brought prices up near
the very major resistance areas at 943 and
949. A trade above 949 will be
considered a breakout and can bring prices up
to challenge the 956.30 and 966 top areas.
A trade above 966 will be considered another
breakout for prices to challenge the 991 -
995.80 area and possibly near the 1015 major
weekly channel. A trade today below 932
- 930.50 area is slightly bearish but only a
trade below 922 - 920 area can bring any solid
bearishness back to the chart. Remain
defensive inside the 943 - 932 neutral range
and 949 - 922 major trading range.
Day
trades:
For the Dec. contract -
Aggressive
traders can sell rallies near 941 -
943 and buy dips near 938.50 - 937.50 area,
whichever side comes first, to complete the
trade. (Use a buy stop and rev. long at
943.70). (Use a sell stop and rev. short
at 935).
Aggressive
traders can attempt short positions
near 948 - 949 area for obj. near 944 - 943
area and possibly near 940. (Use a buy
stop and rev. long at 952).
Aggressive
traders can attempt long positions
near 922 - 920 area for obj. near 926 - 927
area and possibly near 929. (Use a sell
stop and rev. short at 918.70).
Buy
stop at 943.70 for obj. near 947 - 949 area.
Buy
stop at 952 for obj. near 955 - 956.50 area
and possibly near 961.40 gap area.
Sell stop
at 935 for obj. near 932 - 930.50 area.
Sell stop
at 929.30 for obj. near 927.30 - 926.70 area
Sell
stop at 925.80 for obj. near 922.50 - 920
area.
Sell
stop at 915.80 for obj. near 912 - 908.90
area.
Bulletin - Originally sent 11/29/02 (9:48 am est) Short positions were taken at 941. The sell-off down to 938.50 meets the obj. to complete the first trade. Results: 11/29/02
The
week in review - 12/02/02 -
12/06/02
The Tech Guru's S & P Day
Trading Recommendations
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P - For Monday
12-02-02 : NOTE: After
each support and resistance listed will designate a value - (very
major) holds the highest importance, then (major), (very significant),
and (significant) is 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 intra-day channel and newly developed
weekly channel also 938 and 938.30 peaks (major area) /
940.50 and 941 peaks also 941 day channel and 942
weekly top (very major area)
/ 944 daily upper channel and 944.30 GBX weekly
channel (very major area)
/ 947.80 and 952.50 day session closing price also
948.50 weekly upper channel (very
major area) / 956.30 weekly top
(very major area) / 961.40
day gap (major) / 965.10 Dec.
contract's weekly top and 966 major weekly top (very
major area) / 969.50 daily upper channel (major)
/ 979.10 day session closing price and 981 day top (major area)
/ 991 and 992 weekly closing prices also 993.80,
994, and 995.80 weekly tops (very
major area) / 1010 major weekly
channel (very major area).
Support: For the
Dec. contract -
934 intra-day channel (major)
/ 931.70 day bottom and 930.50 day gap (major) / 928.90
weekly channel also 928.60 and 928 day channels (very
major area) / 924.70 GBX channel (very
major) / 922.50, 921 and 920.50 base areas also 920 day
bottom (major area) / 912 GBX bottom and 911.50 day gap
(major area) / 906 minor day channel (major)
/ 900.60 minor GBX channel and 898.10 day session
closing price (very major area)
/ 893.40 GBX bottom and 892.50 weekly bottom (major area)
/ 885.70 day gap and 881 GBX bottom (major area).
Comments:
The whiplashing action
inside a narrow trading range on Friday managed to close the week up for
the third week in a row. This leaves the chart in bullish
condition for rallies to challenge the 956.50 and 966 top area, which
can possibly stimulate some selling pressure. A trade above 966 -
969.50 area can bring prices up to challenge the 993.80 - 995.80 weekly
tops and possibly as high as the 1010 major resistance, which can be
considered a major selling area. A trade below 928 - 924.70 area
is bearish that can be the first signal for lower prices to follow.
Remain defensive at the 956 - 966 top area and 928 - 924.70 support area
until a breakout is seen to either side.
Day trades:
For the Dec. contract -
If the market opens above 944
aggressive traders can sell rallies near 947.80 to 952.50 area
for obj. near 944 and possibly near 942 area. (Use a protective
buy stop at 953.70. Do not rev. long).
Aggressive traders can attempt short
positions near 961.40 gap - 966 top area for obj. near 956 and
possibly near 953 - 950 area. (Use a buy stop and rev. long
at 972.50).
Aggressive traders can buy
dips near 929 - 925 area for obj. near 936 - 938 area. (Use a sell
stop and rev. short at 917.80).
Buy stop at 972.50 for obj.
near 978 - 979 area and possibly near 981.
Buy stop at 984 for obj.
near 988 - 989 area and possibly near 991.
Sell stop at 917.80 for
obj. near 913 - 911.50 gap area.
Bulletin -
Originally sent 12/02/02 (4:15 pm est)
The sell-off down to the 929 area put traders
into long positions. The rally up to the 935.70 is near enough to
the 936 obj. to complete the trade.
Results: 12/02/02
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S & P
- For Tuesday
12-03-02 : NOTE: After
each support and resistance listed will designate a value -
(very major) holds the highest importance, then (major), (very
significant), and (significant) is 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 -
939 and 940 peaks (major area)
/ 944.50 intra-day peak (major) / 948.80 and
949.50 intra-day peaks (major area) / 954.80
day top and 956.30 weekly top (very
major area) / 961.40 day gap (major)
/ 965.10 Dec. contract's weekly top and 966
major weekly top (very major
area) / 969.50 weekly upper
channel and 973 daily upper channel (very
major area) / 979.10 day session closing price and
981 day top (major area) / 991
and 992 weekly closing prices also 993.80, 994 and 995.80 weekly
tops (very major area).
Support: For
the Dec. contract -
933.50 intra-day channel and 932.20
base also 931.60 minor channel (major area) / 930.50
and 929.50 bases also 930 and 928.50 day channels (very
major area) / 924.70 GBX
channel (very major)
/ 921.30 and 920 intra-day channels also 920
day bottom (very major area)
/ 911.50 day gap and 910.70 weekly bottom
also 908.90 weekly closing price (very
major area) / 903.50 minor channel (major)
/ 898.70 and 898.50 weekly double closing
price (very major area)
/ 893.40 GBX bottom and 892.50 weekly bottom (major area)
/ 885.70 day gap and 881 GBX bottom (major area).
Comments:
The sell-off on
Monday from the major resistance proved the significance of the
area. The fact that the market made new weekly highs on
Monday and managed to close below the last three day's settling
prices is considered a minor key reversal and can prove to be the
first bearish signal for lower prices to follow. Only a
trade above 948.80 and 956.30 can bring any bullishness back to
the chart but will still face the 965.10 and 966 major top areas that
can possibly stimulate a major retracement to the down side.
A trade above 969.50 and 973 will be considered a breakout for
prices to challenge the 991 - 995.80 top areas and possibly near
the 1010 major resistance. A trade today below the 930.50
and 924.70 areas is bearish and can prove a follow through to
Monday's key reversal for the continuation of the
momentum to the downside. Remain defensive inside the 940 -
924.70 neutral area.
Day trades:
For the Dec. contract -
Aggressive traders can buy
dips near 930.50 - 928.50 area and if possible near 926 - 924.70
area for obj. near 936 and possibly near 939 - 940 area.
(Use a sell stop and rev. short at 924).
Aggressive traders can sell
rallies near 939 - 940 area and if possible near 942 for obj. near
933 - 931 area. (Use a protective buy stop at 951.80.
Do not rev. long).
Aggressive traders can attempt
short positions near 961.40 gap and if possible near 965
- 966 top area for obj. near 956 - 953 area and possibly near 949.
(Use a buy stop and rev. long at 973.80).
Buy stop at 973.80
for obj. near 978 - 981 area.
Buy stop at 984 for
obj. near 989 - 991 area.
Sell stop at 924 for obj.
near 922 - 921.50 area.
Sell stop at 919 for
obj. near 914 - 912 area.
Sell stop at 906.50
for obj. near 903.50 and possibly near 901 - 900 area.
Bulletin -
Originally sent 12/03/02 (10:19 am est)
Short positions were taken at 924 on the
sell stop. The market is holding this area and showing support.
Exit all short positions at the market and reverse long for an obj.
near 936 area. (Use a sell stop and rev. short at 919).
Bulletin - Originally
sent 12/03/02 (12:48 pm est)
The market hit the sell stop at 919
putting traders into short positions. The action seen today has
been technically in a neutral condition and therefore supports can be
made at any time. It is recommended for traders to exit the
short position at 920 to 921 area and cut losses. If the
market hits 924 then exit all short positions at the market.
Aggressive traders wishing to hold short positions a little longer can
use a protective buy stop at 923.50 to 926.50 area.
Results: 12/03/02
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P -
For Wednesday
12-04-02 : 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 -
924 peak and intra-day channel (major)
/ 926.50 and 927.80 peaks also 926.50 intra-day
channel and 928.50 day top (very
major area) / 935.50 day gap and 935.80 peak (major
area) / 939 and 940 peaks also 940 GBX
top and 944.50 peak (very major
area) / 948.80 and 949.50 peaks (major area)
/ 954.80 day top and 956.30 weekly top (very
major area) / 961.40 day gap (major)
/ 965.10 Dec. contract's top also 966 weekly top
(very major area).
Support: For
the Dec. contract -
921.50 newly developed day channel (major
area) / 919.50 intra-day channel and 919 base also 917.80 day
bottom (major area) / 911.50
day gap and 910.70 weekly bottom also 908.90 weekly closing price
(very major area) / 904.50
minor day channel and 902.45 weekly channel (very
major) / 898.70 and 898.50
weekly double closing price (very
major area) / 893.40 GBX bottom and 892.50 weekly
bottom (major area) / 885.70
day gap and 881 GBX bottom also 882.50 minor day channel (very
major area).
Comments:
The follow-through
sell-off on Tuesday put the chart in neutral to bearish condition,
which can stimulate prices to challenge the 902.45 weekly support
channel. A trade below the 902.45 and 898.50 area is bearish and
can bring prices down to challenge the 892.50 weekly bottom and
possibly near the 885.70 gap area. A trade today above 926.50
and 928.50 area is slightly bullish but only a trade above the 940 -
944.50 area can bring any bullishness back to the chart.
Remain defensive inside the 926.50 to 902.45 trading range.
Day trades:
For the Dec. contract -
Aggressive traders can sell
rallies near 924 - 926 area for obj. near 920 - 919 area and possibly
near 917. (Use a buy stop and rev. long at 930.70).
Aggressive traders can attempt
long positions near 904.50 - 902.50 area for obj. near 909 -
911 area and possibly near 914. (Use a sell stop and rev. short
at 896.80).
Buy stop at 930.70 for
obj. near 934 - 936 area and possibly near 939.
Buy stop at 945.50 for
obj. near 948.50 - 949 area.
Sell stop at 896.80 for
obj. near 893.50 - 892.50 bottom area.
Sell stop at 889 for obj.
near 885.70 gap area and possibly near 883 - 882.50 area.
Results: 12/04/02
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S &
P - For Thursday
12-05-02 : 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 li |