Archived S & P Reports

The week in review - 01/06/03 - 01/10/03

The Tech Guru's S & P Day Trading Recommendations

thetechguru.com

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.

* 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 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

Sold @ 910.70 Bought @ 914.70 = - $1,000.00

Bought @ 914.70 Sold @ 920.80 = + $1,525.00

Sold @ 924 Bought @ 930.60 = - $1,650.00

Bought @ 930.60 Sold @ 931.50 = + $ 225.00

TOTAL (P & L) - $ 900.00

thetechguru.com

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.

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

Bought @ 923 Sold @ 927 = + $1,000.00

Sold @ 927 Bought @ 923 = + $1,000.00

Bought @ 923 Sold @ 927 = + $1,000.00

Sold @ 927 Bought @ 923 = + $1,000.00

Bought @ 923 Sold @ 927 = + $1,000.00

TOTAL (P & L) + $5,000.00

thetechguru.com

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.

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

Bought @ 917 Sold @ 915 = - $ 500.00

Sold @ 915 Bought @ 916.50 = - $ 375.00 bought as per bulletin

Bought @ 916.50 Sold @ 920.50 = + $1,000.00

Bought @ 911.70 Sold @ 914.50 = + $ 700.00

Bought @ 911.50 Sold @ 911.50 = $ -0- as per bulletin to attempt the buy again / sold as per bulletin to scratch the trade

TOTAL (P & L) + $ 825.00

thetechguru.com

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.

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

Sold @ 916.50 Bought @ 918.20 = - $ 425.00

Bought @ 918.20 Sold @ 921.50 = + $ 825.00

Sold @ 927 Bought @ 923 = + $1,000.00

TOTAL (P & L) + $1,400.00

thetechguru.com

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.

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

Bought @ 916 Sold @ 921 = + $1,250.00

Sold @ 927.50 Bought @ 927.50 = $ -0- bought as per bulletin

Sold @ 931 Bought @ 927.50 = + $ 875.00 bought as per bulletin

TOTAL (P & L) + $2,125.00

The week in review - 01/13/03 - 01/17/03

The Tech Guru's S & P Day Trading Recommendations

thetechguru.com

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.

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

Sold @ 934.50 Bought @ 930.50 = + $1,000.00

Bought @ 923.20 Sold @ 925.20 = + $ 500.00 sold as per bulletin

TOTAL (P & L) + $1,500.00

thetechguru.com

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.

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

Bought @ 923 Sold @ 924 = + $ 250.00 sold as per bulletin

TOTAL (P & L) + $ 250.00

thetechguru.com

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.

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.