|
|
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:
If you have any questions, please e-mail them to:
support@thetechguru.com
or call (540) 843-GURU (4878)
The
week in review - 01/06/03 - 01/10/03
The Tech Guru's S & P Day
Trading Recommendations
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P -
For Monday
01-06-03 : 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 March contract -
910.70 and 911.40
weekly tops also 912 major weekly top and 913 weekly gap (very
major area) / 917.70 GBX weekly top (major)
/ 920.80 major day channel and 921 day top
(very major area) / 924.40
day channel and 924.80 major weekly channel also 924.50 day top
(very major area) /
927.20 day top (major) / 932.50
day channel and 934.50 day gap also 935.30 weekly and monthly closing
price (very major area)
/ 943.50 minor day channel (major) / 949
minor day channel and 953.50 weekly top also 954.80 weekly chart top (very
major area).
Support: For
the March contract -
907.80 intra-day channel also 906 and
905.70 base (major area) / 904.70 intra-day channel
and base also 903.30 gap (major area) / 901.70 day
bottom also 900.50 and 900.20 bases (major area) / 897.80
and 897.50 bases also 897.20 day channel (very
major area) / 894 base (major) / 883
GBX bottom and 882.70 day bottom also 878.90 day gap (major
area) / 876.60 major weekly channel and
875.10 major day channel (very
major area) / 871.80 weekly closing price (major)
/ 868.20 and 866 weekly bottoms (very
major area) / 862.10 day gap and
857 day bottom (very major area).
Comments:
The market
remained inside the neutral trading range on Friday but managed
to close higher than the last three weeks closing prices, which is
technically considered a key reversal on the weekly chart and overall
bullish. A trade today below 897.20 is slightly bearish but only
a trade below 876.60 - 875 area can bring any solid bearishness back
to the chart. NOTE:
Even with the bullish key reversal from last week, the market
continues to face very major resistance and 924.80 that can prove to
be significant enough to hold back rallies for a while. A trade
above 924.70 and 932.50 areas will be considered a major breakout for
higher prices to follow, possibly reaching the 980 - 990 area.
Remain defensive inside the neutral daily trading range between 913 -
901.50 but overall remain defensive this week inside the 924.80 -
876.60 weekly trading range.
Day trades:
For the March contract -
Aggressive traders can buy
dips near 904 - 903.30 area for obj. near 907 - 908 area. (Use a
sell stop and rev. short at 893.70). (Conservative traders can
use a protective sell stop at 900.70. Do not rev. short).
Aggressive traders can buy
dips near 898.50 - 897.20 area for obj. near 903 and possibly near 906
area. (Use a sell stop and rev. short at 893.70).
Very aggressive traders can sell
rallies near 909 - 911.50 area and if possible near 913 for obj. near
905 - 904 area and possibly near 903.30. (Use a buy stop and
rev. long at 914.70). NOTE: Cancel
this trade if the market hits the 898.50 - 897.20 area first before
this trade comes to play.
Aggressive traders can sell rallies
near 920.80 - 924.80 area for obj. near 916.50 - 915 area. (Use
a buy stop and rev. long at 929).
Sell stop at 893.70 for
obj. near 888 - 886 area and possibly near 882.70 - 878.90 gap area.
Buy stop at 914.70 for
obj. near 917.70 - 920.80 area and possibly near 924.80 area.
Buy stop at 929 for obj.
near 932 - 934.50 area.
Bulletin - Originally sent 01/06/03 (1:34 pm est) Short positions were taken at 924. Because of the market condition the buy stop and rev. long at 929 must be changed to 930.60 for the same obj. near 932 - 934.50 area. Bulletin - Originally sent 01/06/03 (3:54 pm est) The buy stop was hit at 930.60 putting traders into long positions. The 931.50 double top is showing resistance where long positions should consider taking profits instead of waiting for 932. Any trader who did not exit the long position should do so. Results: 01/06/03
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P -
For Tuesday
01-07-03 : 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 March contract -
927.50 intra-day channel also 928 and
929 peaks (major area) / 930.60
newly developed day channel and 931.30 peak also 931.50 day top and
932 day channel (very major
area) / 934.50 day channel and
937.50 minor weekly channel (very
major area) / 943 minor day
channel and 945 minor weekly channel (very
major area) / 949 minor day channel (major)
/ 953.50 March contract's weekly top also
954.80 weekly chart top (very
major area) / 956.30 day top (major)
/ 961.60 day gap and 965.70 March contract's
weekly top also 966 weekly chart top (very
major area) / 980.80 day session closing price and
982.80 day top (major area).
Support: For
the March contract -
925 double base (major)
/ 923.20 and 921.30 bases also 921.40 day
channel (very major area)
/ 916 intra-day channel and gap also 914.40
day channel with GBX prices (very
major area) / 909.90 weekly closing price (major)
/ 903.80 GBX bottom and 903.50 day channel
also 901.70 day bottom (very
major area) / 897.80 and 897.50 base area also
896.70 weekly closing price (major area) / 883 base
and 882.70 day bottom also 881 rev. peak (major area)
/ 878.90 day gap and 876.80 major day channel
also 876.60 major weekly channel (very
major area).
Comments:
The rally on Monday
brought prices up to a very critical resistance area leaving the
chart neutral to bullish but subject to whiplashing to both
sides of the 927.50 - 921.40 neutral range. A trade above
927.50 and 932 area is a breakout for higher prices. A trade
below 921.40 is slightly bearish but only a trade below 903.50 - 901
area can bring any solid bearishness back to the chart. Remain
defensive inside the 927.50 - 921.50 trading area until a breakout
is seen to either side.
Day trades:
For the March contract -
Aggressive traders can sell
rallies near 927 - 927.50 area and buy dips near 923 - 921.40 area,
whichever side comes first to complete the trade. (Use a buy
stop and rev. long at 933). (Use a sell stop and rev. short at
918.70).
Buy stop at 933 for
obj. near 934.50 - 937 area.
Buy stop at 940 for
obj. near 943 - 945 area.
Sell stop at 918.70 for
obj. near 916.30 - 914.50 area.
Sell stop at 911.50 for
obj. near 909.90 - 908.50 and possibly near 906.
Aggressive traders can attempt
long positions near 904.50 - 903.50 area, if it gets there,
for obj. near 909 - 911 area and possibly near 913. (Use a
sell stop and rev. short at 900).
Sell stop at 900 for
obj. near 898 - 896.50 area.
Results: 01/07/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Wednesday
01-08-03 : 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 March contract -
924.60 peak and 925 intra-day
channel (major area) / 927 and 928.30 peaks (major
area) / 929.50 minor day
channel also 930.50 and 931.50 day tops also 931 day channel (very
major area) / 934.50 day
gap and 937.50 minor weekly channel (very
major area) / 943 minor
day channel and 945 minor weekly channel (very
major area) / 949 minor day channel (major)
/ 953.50 March contract's weekly to
also 954.80 weekly chart top (very
major area) / 956.30 day top (major)
/ 961.60 day gap and 965.70 March
contract's weekly top also 966 weekly chart top (very
major area).
Support: For
the March contract -
922 minor day channel and 921
intra-day channel (major area) / 919.70
base and 918.80 day bottom also 916 intra-day gap
(very major area) / 912.50 base
(significant) / 910.50 day channel and
909.90 weekly closing price also 908.50 day bottom and 908
minor GBX channel (very
major area) / 903.80 GBX
bottom and 901.70 day bottom (very
major area) / 897.80 and 897.50 base area also
896.70 weekly closing price (major area) / 883
base and 882.70 day bottom also 881 rev. peak (very
major area) / 878.90 day
gap and 878.50 major day channel also 876.60 major weekly
channel (very major area).
Comments:
The market on
Tuesday closed down for the day after remaining inside the
neutral range, which puts some negativity into the chart for
possible retracements lower. Only a trade above 932 will
bring the bullishness back for the minor up trend to continue.
A trade below 918.80 - 916 area can bring prices down to
challenge the 910.50 - 908 area. A trade below 910.50 -
908 area is bearish for prices to challenge the 903.80 -
901.70 bottom and possibly lower. Only a trade below the
876.60 weekly channel can reverse the minor trend down for
prices to possibly reach the 50% retracement area at 860.50.
Remain defensive inside the 929 - 910.50 neutral trading
range. Whiplashing to both sides can continue until a
breakout is seen to either side.
Day trades:
For the March contract -
Aggressive traders can buy
dips near 918.50 - 916 area for obj. near 924 and possibly
near 925. (Use a sell stop and rev. short at 915).
Aggressive traders can
sell rallies near 927 - 929 area and if possible near
930 for obj. near 923 - 921 area. (Use a buy stop and
rev. long at 933.30).
Aggressive traders can
attempt long positions near 910.50 for obj. near
914.50 - 916 area and possibly near 918. (Use a sell
stop and rev. short at 906).
Buy stop at
933.30 for obj. near 934.50 - 937 area.
Buy stop at
939.80 for obj. near 943 and possibly near 945.
Sell stop at 915
for obj. near 912.50 and possibly near 910.50.
Sell stop at 906
for obj. near 904 and possibly near 902.
Sell stop at 900
for obj. near 897.80 - 897 area.
Sell stop at 893
for obj. near 888 - 886 area and possibly near 883.
Bulletin - Originally sent 1/08/02 (10:27 am est)
The sell stop was hit at 915 putting
traders into a short positions. The sell off down to
913.50 is one point from the obj. and some traders could have
taken profits. The technical formation of the double
bottom at 914.50 is proving to be support for possible rallies
up to the 922 area again.
Traders holding short positions
should exit immediately and consider long positions at the
market. The market is trading at 916.50 at this time.
Aggressive traders taking long positions should continue to use
a sell stop and rev. short at 906. The obj. for long
positions is near 921 - 922 area.
Bulletin - Originally
sent 1/08/02 (11:44 am est)
The market rallied to 920.50 which
is near enough to the obj. of 921, which completes the trade
where all long positions took profits. Anyone who failed
to exit the long positions, should do so immediately.
Bulletin - Originally sent 1/08/02 (12:52 pm est)
Long positions were taken on the sell
off down to 911.70. The rally up to 914.90 meets the obj.
and completes the trade.
Bulletin - Originally sent 1/08/02 (1:54 pm est)
The market continues to hold the major
support at 910.50 that could possibly stimulate rallies.
Aggressive traders can attempt long positions again, buying near
911.50 for an obj. near 914.50 - 916. (Continue to use a
sell stop and rev. short at 906). (Conservative traders can
use a protective sell stop at 909. Do not rev. short).
Bulletin - Originally sent 1/08/02 (2:22 pm est)
The market failed to hold the 910.50
support trading down to 909.50. This trade is now at a high
risk. It is recommended for traders to exit the long
position taken at 911.50 and scratch the trade. The market
is trading at 911.50 at this time.
Results: 01/08/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Thursday
01-09-03 : 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 March contract -
910.50 peak and intra-day
channel also 910.50 day channel and 912.80 peak (major
area) / 914.70, 914.90, and
915.50 peaks and 917.10 GBX channel (very
major area) / 920.50 day top to 923.80 day
gap (major area) / 927
and 928.30 peaks also 929 and 930 minor day channels also
930.50 and 931.50 day tops (very
major area) / 934.50
day gap and 937.50 minor weekly channel (very
major area) / 942.50
minor day channel and 945 minor weekly channel (very
major area) / 948.70 minor day channel (major)
/ 953.50 March contract's weekly top
also 954.80 weekly chart top (very
major area).
Support: For
the March contract -
908.90
minor channel and 908.30 intra-day channel also 908 base and
907.10 bottom also 905.70 minor down channel (very
major area) / 903.80
GBX bottom and 901.70 day bottom (very
major area) / 897.80
and 897.50 base area also 896.70 weekly closing price (major
area) / 883 base and 882.70
day bottom also 881 rev. peak (very
major area) / 880.10
major day channel and 878.90 day gap also 876.60 major
weekly channel (very
major area) / 871.80
weekly closing price and 870 minor day channel also 868.20
weekly bottom (very
major area).
Comments:
The sell-off
on Wednesday brought prices down to a major support level
leaving the chart in totally neutral condition between the
917.10 and 903.80 trading range. A trade above 917.10
is slightly bullish for prices to challenge the 927 - 931
major resistance. A trade above 932 will be considered
a breakout for higher prices to follow. A trade today
below 907.10 - 905.70 area is slightly bearish but a trade
below 903.80 - 901.70 bottom area can bring prices down to
possibly challenge the 883 - 876.60 major support.
Remain defensive inside the 917.10 - 903.80 neutral range.
Day
trades: For the March contract -
Aggressive traders can
sell rallies near 915.50 - 917 area for obj. near
912 - 910.50 area. (Use a buy stop and rev. long at
918.20).
Aggressive traders can
attempt long positions near 910.50 and if possible
near 909 for obj. near 912.50 - 914.50 area. (Use a
sell stop and rev. short at 906).
Aggressive traders can
attempt long positions near 904 - 902 area for obj.
near 908 - 909 area. (Use a sell stop and rev. short
at 900).
Aggressive traders can
sell rallies near 927 - 928 area and if possible
near 929 - 930 area for obj. near 924 - 922 area. (Use
a buy stop and rev. long at 933.30).
Buy stop at 918.20 for obj. near 920 -
923 area.
Buy stop at 933.30 for obj. near 934.50
- 937.50 area.
Sell stop at 906 for obj. near 904 - 902
area.
Sell stop at
900 for obj. near 897.80 - 896.50 area.
Sell stop at
893 for obj. near 887 - 884 area.
Results: 01/09/03
A TECHNICAL
GUIDE FOR DAY TRADING THE S & P
S
& P - For Friday
01-10-03 : 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 March contract -
925.80
intra-day channel and 926.30 peak (major area)
/ 927.30 peak and 927.50 minor day channel also
928.50 day top and 929.30 day channel (very
major area) / 930.50 and 931.50 day
tops (major area) / 934.50
day gap and 937.50 minor weekly channel (very
major area) / 942
minor day channel and 945 minor weekly channel (very
major area) / 948.50
minor day channel and 953.50 March contract's weekly
top also 954.80 weekly charts top
(very major area) / 961.60
day gap and 965.70 March contract's weekly top also
966 weekly chart's top (very
major area) / 980.80 day session
closing price and 982.80 day top (major area).
Support: For
the March contract -
922.90 minor day channel
also 922.50 base (major area) /
920.20 base and 920 day channel (major area)
/ 915 day bottom and 913.50
major channel with GBX prices (very
major area) / 910 day gap also 907.90
GBX bottom and 907.10 day bottom (major area)
/ 903.80 GBX bottom and 901.70
day bottom (very
major area) / 896.70 weekly closing
price (major area) / 883
base and 882.70 day bottom also 882 major day channel
(very major area)
/ 878.90 day gap and monthly
closing price also 876.60 major weekly channel (very
major area).
Comments:
The
rally on Thursday brought prices up to a critical
resistance area but the trading range remaining
inside the neutral area. A trade above 932 will
be considered a breakout for higher prices to follow.
A trade today below 920 is slightly bearish but only a
trade below the 913.50 channel and the 910 - 907.90
area will challenge the 901.70 bottom. A failure
to hold above 901.70 can bring prices down to
challenge the 882 - 876.70 major support area.
Remain defensive inside the 929.30 - 913.50 neutral
trading area.
Day
trades: For the March contract -
Aggressive traders
can sell rallies near 927 - 929 area and
if possible near 931 for obj. near 922 - 920 area.
(Use a buy stop and rev. long at 933.30)
Aggressive traders
can buy dips near 916 - 913.50 area for obj.
near 920 - 922 area. (Use a sell stop and rev.
short at 911.70).
Buy stop
at 933.30 for obj. near 934.50 - 937.50 area.
Buy stop
at 940.50 for obj. near 942 - 945 area.
Sell stop
at 911.70 for obj. near 910 - 908 area.
Sell stop
at 906 for obj. near 904 - 902 area.
Sell stop
at 899.80 for obj. near 897.
Sell stop
at 893 for obj. near 887 - 884 area and possibly near
882.
Bulletin - Originally sent 01/10/03 (12:11 pm est)
Short positions were taken at 927 and 931.
The double bottom at 926.60 and 926.80 can prove to be support. It is
recommended for all short positions to exit and take profits or scratch the
trade, either/ or. The short positions is beginning to be a high risk
at this time.
Results: 01/10/03
The
week in review - 01/13/03 - 01/17/03
The Tech Guru's S & P Day
Trading Recommendations
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P - For Monday
01-13-03 : 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 March contract -
928.50 intra-day channel and 929.50 double
peak (major area) / 932.30 newly
developed day channel also 932.50 minor weekly channel also 933 day top
and 934.50 day gap and 936 monthly closing prices (very
major area) / 941.50 minor day
channel also 943 minor weekly channel (very
major area) / 948.10 minor day
channel also 950.30 minor weekly channel (very
major area) / 953.50 March
contract's weekly top also 954.50 weekly chart's top (very
major area) / 956.30 day top (major) / 961.60
day gap and 965.70 March contract's weekly top also 966 weekly chart's
top (very major area)
/ 978.60 monthly channel also 980.80 day session
closing price and 982.80 day top also 984.30 major weekly channel and
985 day channel (very major area)
/ 990.10 monthly chart's closing price also 991
and 992 weekly closing prices also 993.80 weekly top and 996 GBX weekly
top (very major area).
Support: For the March
contract -
925 intra-day channel and 923.20 base (major
area) / 922.10 day channel and 921.50 base (major area)
/ 919 minor day channel (very
major area) / 915 double bottom and 912.50 minor day
channel (major area) / 910 day
gap also 907.90 GBX bottom and 907.10 day session weekly bottom (very
major area) / 903.80 GBX weekly bottom and 901.70 day
bottom (major area) / 896.70 weekly closing price (major
area) / 885 major weekly channel also
883.50 major day channel (very
major area).
Comments:
The market on Friday
managed to close up for the 2nd day in a row, remaining inside the
neutral area leaving the chart in neutral to slightly bullish condition.
A trade above the 934 - 936 area can bring prices up to challenge the
948 - 954.80 top area. A trade below 922.10 is slightly
bearish but a trade below 912.50 can bring prices down to challenge
the 901.70 bottom and possibly near the 885 major support. Remain
defensive inside the 936 - 922 neutral area.
Day trades:
For the March contract -
Aggressive traders can sell
rallies near 934.50 - 936 area for obj. near 930. (Use a buy stop
and rev. long at 939).
Aggressive traders can buy
dips near 923 - 922 area for obj. near 930. (Use a sell stop and
rev. short at 918).
Buy stop at 939 for obj.
near 941.50 - 943 area.
Buy stop at 945 for obj.
near 947.50 - 948 area and possibly near 950.
Sell stop at 918 for obj.
near 914 - 912.50 area.
Sell stop at 906 for obj.
near 903.80 - 901.70 area.
Bulletin - Originally sent
01/13/03 (10:15 am est)
Short positions were taken this
morning at 934.50 and met the obj. on the sell-off down to 930.50,
which completes the trade.
Bulletin - Originally sent
01/13/03 (10:45 am est)
The sell off down to 923.20 put
traders into long positions with an obj. now at 930.
(Continue to use the sell stop and rev. short at 918).
Bulletin - Originally sent
01/13/03 (12:06 pm est)
Long positions were taken at
923.20. The market is showing resistance 926 with a
double top formation. It is recommended for traders to
exit the long position at the market and take profits.
The market is trading at 925 at this time.
Results: 01/13/03
A TECHNICAL
GUIDE FOR DAY TRADING THE S & P
S
& P - For Tuesday
01-14-03 : 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 March contract -
927.80 peak and 928.70
intra-day channel (major area) /
930.80 intra-day peak (major) / 933.80
and 935.30 newly developed major day channel also 935
day top and 936.50 GBX top (very
major area) / 941.20
minor day channel also 943 minor weekly channel
(very major area)
/ 948 minor day channel also
950.30 minor weekly channel (very
major area) / 953.50
March contract's weekly top also 954.60 weekly chart's
top (very major
area) / 956.30 day top (major)
/ 961.60 day gap and 965.70
March contract's weekly top also 966 weekly chart's
top (very major
area) / 978.60
monthly channel also 980.80 day session closing price
(very major area)
/ 982.80 day top and 984 major
day channel also 984.30 major weekly channel (very
major area).
Support: For
the March contract -
924.90 day channel with
GBX prices also 924.30 intra-day channel and 924 base (major
area) / 922.90 day
channel and 920.80 day bottom (very
major area) / 915 double bottom and
914.30 minor day channel (major area)
/ 912.50 minor day channel also
910 day gap and 909.90 weekly closing price (very
major area) / 907.90 GBX bottom and
907.10 day bottom (major area) /
903.80 GBX bottom and 901.70 day bottom (major
area) / 896.70 weekly closing price (major
area) / 885.30 major
day channel and 885 major weekly channel (very
major area) / 882.70
day bottom to 878.90 monthly gap (very
major area).
Comments:
Monday's trading range remained inside the neutral
area leaving the chart neutral again between the
933.80 - 922.90 range. A trade above 933.80 -
936.50 area can challenge the 943 - 948 major
resistance. A trade below 922.90 - 920.80 area
can challenge the 912.50 - 910 area and possibly the
901.70 bottom. Only a breakout to either side of
the 948 - 901.70 area can possibly point a solid
direction. Remain defensive inside the 933.80 -
922.90 first neutral area.
Day
trades: For the March contract -
Aggressive traders
can buy dips near 924.90 - 922.90 for obj.
near 928 - 930 area and possibly near 933. (Use
a sell stop and rev. short at 919.80).
Aggressive traders
can sell rallies near 933 - 935 area for obj.
near 928 and possibly near 925. (Use a buy stop
and rev. long at 939.50).
Sell stop
at 919.80 for obj. near 915 - 912.50 area and possibly
near 910 gap.
Sell stop
at 906 for obj. near 904 - 902 area.
Sell stop
at 898.70 for obj. near 896.70 and possibly near 895.
Sell stop
at 893 for obj. near 888 - 885 area.
Buy stop
at 939.50 for obj. near 941.50 - 943 area.
Buy stop
at 945.70 for obj. near 947.70 - 948 area and possibly
near 950.
Bulletin - Originally sent 01/14/03 (10:14 am est)
Long positions were taken at
923. The double top at 926 can prove to be resistance
and possibly not meet the 928 obj. It is recommended
for traders to exit the long positions at the market and
take profits. The market is trading 924 at this time.
Results: 01/14/03
A TECHNICAL
GUIDE FOR DAY TRADING THE S & P
S
& P - For Wednesday
01-15-03 : 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 March contract -
933.70
and 935.30 minor day channels also 935 and 936.50 tops
(very major area)
/ 940.90 minor day channel and
943 minor weekly channel (very
major area) / 948
minor day channel and 950.30 minor weekly channel
(very major area)
/ 953.50 March contract's weekly
top also 954.60 weekly chart's top (very
major area) / 956.30 day top (major)
/ 961.60 day gap and 965.70
March contract's weekly top also 966 weekly chart's
top (very major
area) / 978.60
monthly channel also 980.80 day session closing price
(very major area) / 982.80
day top and 983 major day channel also 984.30 major
weekly channel (very
major area).
Support: For
the March contract -
925.70
newly developed day channel also 925.70 and 925.30
base also 923.80 minor day channel (very
major area) / 920.50 bottom (major)
/ 916 and 914 minor day channels
also 915 double bottom (very
major area) / 910 day gap and 909.90
weekly closing price also 907.10 day bottom (major
area) / 903.80 GBX
bottom and 901.70 day bottom (very
major area) / 896.70 weekly closing
price (major) / 887
major day channel and 885 major weekly channel (very
major area) / 882.70
day bottom to 878.90 monthly gap (very
major area).
Comments:
Tuesday's trading range remained inside the neutral area
but managed to close up for the day leaving the chart
neutral to slightly bullish. The market remains
inside the neutral range between 935.30 and 923.80.
A breakout above 935.30 - 936.50 can bring prices up
to challenge the 943 and 948 resistances. A
trade below 923.80 is slightly bearish and can
challenge the 916 - 914 support. A trade
below 914 is bearish and can bring prices down to
challenge the 910 gap - 907.10 bottom and possibly
near the 901.70 bottom. Remain defensive inside
the 935.30 - 923.80 neutral range.
Day
trades: For the March contract -
Aggressive traders
can sell rallies near 933 - 935.30 area for
obj. near 929 and possibly near 926. (Use a buy
stop and rev. long at 937.80).
Aggressive traders
can buy dips near 926 - 924 area for obj.
near 928 - 930 area. (Use a sell stop and rev.
short at 919.80).
Buy stop
at 937.80 for obj. near 940.50 - 943 area.
Buy stop
at 945.70 for obj. near 947.70 - 948 area and possibly
near 950.
Sell stop
at 919.80 for obj. near 916.80 and possibly near
914.50.
Sell stop
at 912.40 for obj. near 910 and possibly near 909.
Sell stop
at 906 for obj. near 904 - 902 area.
Sell stop
at 900 for obj. near 897.
Sell stop
at 893 for obj. near 888 - 886 area.
|