|
|
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 - 02/03/03 - 02/07/03
The Tech Guru's S & P Day
Trading Recommendations
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P -
For Monday
02-03-03 : 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 -
855.40 GBX channel
and 857 peak and 857.80 day top also 858 minor day channel (very
major area) / 860.30 weekly
closing price and 860.70 daily closing price also 860.30 minor day
channel (very major area)
/ 864.20 minor day channel also 864.50 day top and 866.60 GBX top also
867.80 weekly top (major area) / 875.30 peak also
875.50 and 876.10 rev. base area (major area) / 880.50
minor day channel also 882.50 to 883 day gap and 885.50 GBX top
(very major area) /
889.70 weekly top and 891.80 GBX top (major area).
Support: For
the March contract -
853.70 rev. GBX channel also 851.10 rev.
day channel (major area) / 849.20 intra-day channel
and 847.50 base also 848.80 rev. weekly channel (major area)
/ 844.70 rev. weekly channel without GBX prices
also 843 and 841.80, 841.50 base area also 840.30 newly developed
major weekly channel (very major
area) / 837.40 newly developed
major day channel also 837 weekly bottom and 836 GBX weekly bottom and
down channel (very major area)
/ 827.90 weekly bottom also 825 weekly down
channel (very major area)
/ 816 day bottom and 814 monthly closing price (major area)
/ 805 rev. peak and 804.90 weekly closing price
also 801.70 day gap (very major
area).
Comments:
The rally and close on
Friday from the major support area removed some of the
bearishness out of the chart leaving the technical condition neutral
and supportive. Prices can swing to both sides of the
864.20 - 844.70 trading area until a solid direction is established.
A trade above the 864.20 - 867.80 area can challenge the 875.30 -
876.10 area and possibly near the 882.50 - 883 gap area. A trade
below 849.20 - 847.50 bottom is bearish but a trade below 841.50 -
840.30 weekly channel can bring prices down to challenge the 836
bottom and 827.90 - 825 area and possibly near the 815 monthly closing
price. Remain defensive inside the 864.30 - 844.70 trading area.
Day trades:
For the March contract -
Aggressive traders can sell
rallies near 858 and if possible near 860 for obj. near 854 and
possibly near 851. (Use a buy stop and rev. long at 868.50).
Aggressive traders can buy
dips near 849 - 847.50 area and if possible near 845 for obj. near 853
- 855 area. (Use a sell stop and rev. short at 840).
Buy stop at 868.50 for
obj. near 873 - 875 area.
Buy stop at 878 for obj.
near 880.50 and possibly near 883 gap.
Sell stop at 840 for obj.
near 837 - 836 area.
Sell stop at 833 for obj.
near 828 - 825 area.
Sell stop at 822 for obj.
near 817 - 815 area.
Bulletin - Originally sent 02/03/03 (10:16 am est) Short positions were taken at the 858 - 860 area. The sell-off down to 855.20 was near enough to 854 for traders to have considered exiting and completing the trade. Any trader still short from this trade, should exit near the 859 area and scratch the trade. Results: 02/03/03
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P -
For Tuesday
02-04-03 : 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 -
860 peak and 860.30 day channel (major
area) / 863 minor day channel also
863.90 and 864 day tops also 866.60 GBX top and 867.80 weekly top
(very major area) /
875.50 and 876.10 rev. base and 876.50 minor day channel (major
area) / 882.50 day top to 883 day gap
and 885.50 GBX top (very major
area) / 889.70 day top and 891.80 GBX top (major
area) / 903.10 weekly closing price
(very major area).
Support: For
the March contract -
856 base and 855.20 day bottom also
854.70 day gap (major area) / 847.50 base (major
area) / 843, 841.80 and 841.50 base
area also 840 day session closing price (very
major area) / 838.20 major day channel and 837
weekly bottom also 836.50 and 836 GBX bottoms (very
major area) / 827.90 weekly bottom
and 825 weekly down channel (very
major area) / 816 day bottom and 814 monthly closing
price (major area) / 805 rev.
peak and 804.90 weekly closing price also 801.70 day gap
(very major area).
Comments:
The whiplashing
action on Monday remained inside the neutral range leaving the chart
neutral again between the 863 and 847.50 area. A trade above
863 - 867.80 area is slightly bullish for prices to challenge the
875 - 883 area. A trade below 847.50 is slightly bearish for
prices to challenge the 843 - 837 area. The neutral condition
can stimulate further whiplashing until a breakout is seen to either
side.
Day trades:
For the March contract -
Aggressive traders can buy dips
near 851 - 848 area for obj. near 857 and possibly near 859.
(Use a sell stop and rev. short at 845.70).
Aggressive traders can sell
rallies near 859 - 863 area for obj. near 855 - 853 area. (Use
a buy stop and rev. long at 869).
Sell stop at 845.70 for
obj. near 843 - 841 area.
Sell stop at 834 for
obj. near 828 - 825 area.
Buy stop at 869 for
obj. near 873 - 875 area.
Buy stop at 893 for
obj. near 897 - 899 area.
Results: 02/04/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Wednesday
02-05-03 : 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 -
852.50 intra-day channel (major)
/ 854 day top also 854.70 day gap and
856.60 GBX channel (very
major area) / 858.50 day gap and 861.80 GBX
top also 862 minor day channel (major area) /
863.90 and 864 day tops also 866.60 GBX
top and 867.80 weekly top (very
major area) / 872.50 minor day channel also
875.50 and 876.10 rev. base area (major area)
/ 882.50 day top to 883 day gap also
885.50 GBX top (very
major area) / 889.70 day top and 891.80 GBX
top (major area).
Support: For
the March contract -
845.20 base and 843.50 intra-day
channel (major area) / 842
and 841 base area also 839.50 major day channel (very
major area) / 838.50 and 837 day bottoms also
836.50 and 836 GBX bottoms (major area) / 833
minor down channel (major) / 828
down channel and 827.90 weekly bottom also 825 weekly down
channel (very major area)
/ 816 day bottom also 815 and 814 monthly closing prices (major
area) / 805 rev. peak and
804.90 weekly closing price also 801.70 day gap (very
major area).
Comments:
The whiplashing
action on Tuesday remained inside the neutral area with no
direction in sight. A trade above 856.60 is slightly
bullish but a trade above the 867.80 top can bring prices up
to challenge the 875 and 883 gap areas. A trade below
843.50 and 839.50 area is bearish and can bring prices down to
challenge the 828 - 825 area and possibly near the 815 to 805
gap area. Remain defensive inside the 856.60 - 843.50
neutral range.
Day trades:
For the March contract -
Aggressive traders can
sell rallies near 853 - 856 area for obj. near 849 -
846 area. (Use a protective buy stop at 857.30. Do
not rev. long).
Aggressive traders can buy
dips near 845.50 - 843.50 area for obj. near 849 and possibly
near 851. (Use a sell stop and rev. short at 834.80).
Sell stop at
834.80 for obj. near 828 - 825 area.
Sell stop at 822
for obj. near 817 - 814 area.
Sell stop at 811
for obj. near 805 - 801.50 area.
Buy stop at 869
for obj. near 872 and possibly near 875 - 876.10 area.
Buy stop at
878.50 for obj. near 881 - 883 area.
Bulletin - Originally sent 02/05/03 (10:31 am est)
Short positions were taken at 853
and completed the first trade at 849.
Long positions were taken at 845.
The rally up to 848 is near enough to the 849 obj. for traders
to consider taking profits at this time. The second
trade is now considered complete.
Results: 02/05/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Thursday
02-06-03 : 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 -
845.20 peak and 846.50
intra-day channel (major area) /
847.80, 848.80 and 850 peaks (major area)
/ 856.10 day channel and 856.50
peak (very major
area) / 860.50 minor day channel and 861
day top (major area) / 863.90
and 864 day tops also 866.60 GBX top and 867.80 weekly
top also 868.50 minor day channel (very
major area) / 875.50 and 876.10 rev.
base (major area) / 882.50
day top to 883 day gap also 885.50 GBX top (very
major area) / 889.70 day top and 891.80
GBX top (major area).
Support: For
the March contract -
840
minor channel and 839.90 major day channel also 838.50
day bottom (very
major area) / 837
day bottom also 836.50 and 836 GBX bottoms
(very major area) / 827.90
weekly bottom and 825.50 daily down channel also 825
weekly down channel (very
major area) / 816 day bottom also 815
and 814 monthly closing price (major area)
/ 805 rev. peak and 804.90 weekly
closing price also 801.70 day gap (very
major area).
Comments:
The
whiplashing on Wednesday and sell-off brought prices
down to a very critical support area. A failure
below the 839.90 channel and 837 - 836 bottom area
can bring prices down near the 827.90 - 825 area and
possibly near the 815 and 801.50 gap area. A trade
today above 856.10 is slightly bullish but a trade above
860.50 channel and 867.80 top area will be considered a
breakout for prices to challenge the 875 and 883 gap
area. Remain very defensive inside the 846.50 -
838.50 first trading range.
Day
trades: For the March contract -
Aggressive traders
can sell rallies near 845 - 846.50 area
for obj. near 841 - 840 area. (Use a protective
buy stop at 851. Do not rev. long).
Aggressive traders
can sell rallies near 855 - 856 area for obj.
near 851 - 849 area. (Use a protective buy stop at
858. Do not rev. long).
Sell stop
at 833 for obj. near 828 - 825 area.
Sell stop
at 822 for obj. near 817 - 815 area.
Sell stop
at 811 for obj. near 805 - 801 gap area.
Buy stop at
868.70 for obj. near 873 - 875 area.
Bulletin - Originally sent 02/06/03 (9:41 am est) Short positions were taken on the first rally at 844.50, which was near 845. The obj. still remains at 841 - 840 area and the protective buy stop is at 851. Bulletin - Originally sent 02/06/03 (10:28 am est)
The sell stop was hit at
833, putting traders into short positions. The
market is showing some support in this area and might
not meet the obj at 828. It is recommended for
traders to exit the short position near 834 area
and scratch the trade.
Results: 02/06/03
A TECHNICAL
GUIDE FOR DAY TRADING THE S & P
S
& P - For Friday
02-07-03 : 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
-
842 and 843 peak also
844.50 day top and 845.50 GBX top (major
area) / 849.30 day
session closing price and 851.20 day channel
(very major area)
/ 854.70 weekly closing price and 856.50 peak (major
area) / 859.50
minor day channel also 861 day top and 861.80 GBX
top (very
major area) / 863.90
and 864.50 day tops also 866.60 GBX top and 867.80
weekly top (very
major area) / 875.50 and 876.10
rev. base (major area) / 882.50
day top to 883 day gap also 885.50 GBX top (very
major area).
Support: For
the March contract -
837 base (major
area) / 833.80 base
and 832 day bottom also 832.80 newly developed
major day channel (very
major area) / 827.90
and 825 weekly down channel (very
major area) / 816 day bottom also
815 and 814 monthly closing price (major
area) / 805 rev.
peak and 804.90 weekly closing price also 801.70
day gap (very
major area).
Comments:
The
whiplashing action on Thursday managed to close
the market at a double bottom to last Thursday's
close, which is technically supportive and could
stimulate some rallies. A trade today above
the 849.30 - 851.20 area is slightly bullish but
only a trade above the 859.50 - 861.80 today can
bring any solid bullishness back to the chart.
A trade today below 837 is slightly bearish but a
trade below the 833.80 - 832 bottom can bring
prices down to challenge the 827.90 - 825 area and
possibly near the 815 - 805 gap area. Remain
defensive inside the 851.20 - 837 neutral trading
area.
Day
trades: For the March contract -
Aggressive
traders can sell rallies near 846 - 849
area and if possible near 851 for obj. near 843 -
841 area and possibly near 838. (Use a protective
buy stop at 852.70. Do not rev. long).
Aggressive
traders can attempt short positions near
858 - 859.50 area for obj. near 854 - 852 area and
possibly near 851. (Use a buy stop and rev.
long at 864.70).
Very
aggressive traders can attempt long positions
near 839 - 837 area for obj. near 843 - 845 area.
(Use a sell stop and rev. short at 830).
(Conservative traders can use a protective sell
stop at 835. Do not rev. short).
Buy
stop at 864.70 for obj. near 866.50 - 867.50 area.
Buy
stop at 870 for obj. near 874 - 876 area.
Buy
stop at 878.70 for obj. near 881.50 - 882.50 area
and possibly near 883 gap.
Sell
stop at 830 for obj. near 828 - 825 area.
Sell
stop at 822 for obj. near 817 - 814 area.
Bulletin - Originally sent 02/07/03 (9:41 am est)
The double top at 845 put
traders into the short positions which is near enough to the
846 sell area. The sell off down to 841.50 completes
the first trade.
Aggressive traders can still
consider the 849.50 - 851 area a sell. Short positions
can be attempted at the 849 - 851 area. (Continue to
use the protective buy stop at 852.70). The obj. for
the second repeated trade will be 845 - 843 area.
Bulletin - Originally sent 02/06/03 (10:25 am est)
The very aggressive trade was
taken at 837. The sell off down to 832 puts the market
at a very defensive position. It is recommended for long
positions to exit near 835 - 836 area and scratch the trade.
Bulletin - Originally sent 02/06/03 (12:00 pm est)
The sell stop was hit at 830
putting traders into the short position. The market has
found support at the 829.50 and 830.80 double bottom. It
is recommended to exit all short positions at the market and
cut losses. The market is trading at 833.80 at this
time.
Results: 02/07/03
The
week in review - 02/10/03 -
02/14/03
The Tech Guru's S & P Day
Trading Recommendations
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P -
For Monday
02-10-03 : 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 -
833 and 834.80 peaks
and 835 intra-day channel also 835.50 peak also 835.80 weekly channel
(very major area) / 837.20
day channel and 838.30 intra-day gap also 838.50 weekly channel (very
major area) / 843.70 day channel
with GBX prices and 845.20 day top (very
major area) / 846.30 day channel with GBX prices and
848.80 day channel (major area) / 849.70
peak and 851.40 minor day channel (very
major area) / 854.70 weekly closing price and 856.50
peak (major area) / 858 minor
day channel also 860.50 minor day channel and 861 day top (very
major area) / 863.90 and 864 day
tops also 866.60 GBX top and 867.80 weekly top (very
major area) / 875.50 and 876.10 rev. base and 877.50
minor day channel (major area).
Support: For
the March contract -
828.70 intra-day channel and 827 base (major
area) / 826 newly developed major day
channel and 825.30 weekly bottom also 824 down channel (very
major area) / 817.60 weekly down
channel also 816 day bottom and 815 monthly closing price (very
major area) / 805 rev. peak and
804.90 weekly closing price also 801.70 day gap (very
major area) / 791.50 rev. peak (major)
/ 781.30 major monthly channel and 776.90 lowest day session closing
price (very
major area).
Comments:
The sell-off on Friday
brought prices down for the fourth day in a row and for the fourth
week in a row leaving the chart in bearish condition. A trade
below 826 - 824 area is bearish and can bring prices down to challenge
the 815 - 801.70 gap area. A trade above 846.30 - 851.40 area is
slightly bullish but only a trade above 858 - 864 area can bring any
solid bullishness back to the chart. Remain defensive inside the
835.80 - 828.70 trading area.
Day trades:
For the March contract -
Aggressive traders can sell
rallies near 834 - 835.50 area for obj. near 829 and possibly near 826
area. (Use a protective buy stop at 839.70. Do not rev.
long).
Aggressive traders can sell
rallies near 848 - 851 area for obj. near 844 - 842 area. (Use a
buy stop and rev. long at 853.50).
Buy stop at 853.50 for
obj. near 856.50 and possibly near 858.
Sell stop at 822 for obj.
near 818 - 815 area.
Sell stop at 811 for obj.
near 807 - 805 area and possibly near 801.70 gap.
Sell stop at 797 for obj.
near 793 - 791.50 area.
Bulletin - Originally sent 02/10/03 (9:52 am est)
Short positions were taken on the first
rally to 832.50, which is near the 834 obj. entry. The sell-off
down to the 829 - 827.90 bottom meets the obj. and completes the first
trade. An attempt to sell the 834 - 835 area again becomes very
aggressive. Rallies at this time can break into the 840 - 843
area, where short positions can be attempted. If short positions
are taken at the 840 - 843 area the obj. will be 836 - 835. (Use a
protective buy stop at 844.50. Do not rev. long).
Bulletin - Originally sent 02/10/03 (12:20 pm est)
The rally up to the 834.80 is proving to
hold the major resistance, which is at 835.80 on the weekly chart.
Aggressive traders can attempt short positions near 832 for an obj.
near 828 - 826 area. (Use a protective buy stop at 837. Do
not rev. long).
Bulletin - Originally sent 02/10/03 (1:01 pm est)
Short positions were taken on the rally
near 832. The obj. still remains near 828 - 826 area.
The protective sell stop is
being moved from 837 up to 838.70.
Bulletin - Originally sent 02/10/03 (2:50 pm est)
Short positions were taken at 834 from the
last bulletin. The sell-off down to 829.20 is near enough to the
828 obj. to complete the trade.
Results: 02/10/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S &
P - For Tuesday
02-11-03 : 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 -
838 minor day
channel with GBX prices also 838.50 weekly channel (very
major area) / 841.50 and
844.70 day channels also 842.50 peak and 845.20 day top (very
major area) / 848 minor day channel and 849.50
GBX top (major area) / 854.70 weekly closing
price and 855.20 minor day channel also 856.50 peak (major
area) / 861 day top and 861.80 GBX top (major
area) / 863.90 and 864 day tops
also 866.60 GBX top and 867.80 weekly top (very
major area) / 875.50 and 876.10 rev. base area (major
area).
Support: For
the March contract -
830.50 and 828.50 base area also 830
intra-day channel (major area) / 824.50
base and 822.60 newly developed major day channel also 822 day
bottom (very major area)
/ 817.60 weekly down channel and
816 day bottom also 815 and 814 monthly closing prices (very
major area) / 805 rev.
peak and 804.90 weekly closing price also 801.70 day gap (very
major area) / 791.50 rev. peak (major)
/ 781.30 major monthly channel and 776.90
lowest day session closing price (very
major area).
Comments:
The rally on
Monday managed to close higher for the day leaving the chart in
neutral to slightly bearish condition. A trade above the
841.50 - 845.20 resistance will remove the bearishness from the
chart but only a trade above the 855.20 - 856.50 can bring any
bullishness back to the chart. A trade today below 828.50
is slightly bearish but a trade below 824.50 - 822 can bring
prices down to challenge the 816 - 814 area and possibly near
the 801.70 day gap. Remain defensive inside the 844.60 -
830 neutral trading range.
.
Day trades:
For the March contract -
Aggressive traders can sell
rallies near 838 - 838.50 and if possible near 841.50 for obj.
near 832 - 830 area. (Use a buy stop and rev. long at
846).
Very aggressive traders can
attempt long positions near 830 - 828.50 area for obj.
near 834 - 836 area. (Use a protective sell stop at 827.
Do not rev. short).
Buy stop at 846 for
obj. near 848 - 849 area.
Buy stop at 864.50
for obj. near 866.50 - 867.50 area.
Sell stop at 820
for obj. near 818 - 817.60 area and possibly near 816.
Sell stop at 811
for obj. near 807 - 805 area and possibly near 801.70 gap.
Bulletin - Originally sent 02/11/03 (10:50 am est)
Short positions were taken at 838.50
and again on the rally at 841.50. The sell-off down to
836.20 is showing some support and can possibly prevent the obj.
from being met.
It is recommended to exit the short
position and take profits at this time. The market is
trading at 838 at this time.
Bulletin -
Originally sent 02/11/03 (1:43 pm est)
The market failed to hit the buy area
at 830 the first time down. It found support at 832.20 to
stimulate rallies up to 837, which meets the obj. The sell
off to 830 again is defensive and a buy is now considered a high
risk trade.
It is recommended for conservative
traders to cancel the buy at 830 - 828.50 area. It is
possible the market can sell-off below the 822 area.
Results: 02/11/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Wednesday
02-12-03 : 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 -
831 and 833 intra-day peaks (major
area) / 837 peak and 838 day
channel (very major
area) / 840.60 day
channel and 841.30 minor day channel (very
major area) / 842.60 day top and 845 day
channel also 845.20 day top (major area) /
849.30 day session closing price and 849.50 GBX top (major
area) / 854.70 weekly closing
price also 854.50 and 855.50 minor day channels (very
major area) / 860.30 weekly closing price
also 861 and 863.90 day tops (major area) /
866.60 GBX top and 867.80 weekly top (very
major area) / 875.50 and 876.10 rev. base
area (major area).
Support: For
the March contract -
829.30 and 828.50 intra-day
channels (major area) / 826.70 and 826.50
base area also 825.40 minor day channel (major area)
/ 823.70 day bottom and 823.20 major
day channel also 822 day bottom
(very major area) / 817.60
weekly down channel and 816 day bottom also 815 and 814
monthly closing price (very
major area) / 805 rev.
peak and 804.90 weekly closing price and 801.70 day gap
(very major area)
/ 791.50 rev. peak (major) / 781.30
major monthly channel and 776.90 lowest day session closing
price (very major area).
Comments:
The
whiplashing action on Tuesday closed the market down at its
lowest close in over three months leaving the chart in
bearish condition. A trade above 838 and 845 channels
can bring some bullishness back to the chart but only a
trade above 854.70 - 855.50 can bring any solid bullishness
back. A trade today below 826.50 - 825.40 is
bearish and a trade below 823.20 - 822 area can bring prices
down to challenge the 817 - 814 area and possibly near the 801.70
gap. Remain defensive inside the 838 - 823.20 trading
range.
Day
trades: For the March contract -
Aggressive traders can
sell rallies near 837 - 838 area for obj. near
828.50 - 826.50 area. (Use a buy stop and rev. long at
846).
Sell stop at
820.50 for obj. near 818 - 816 area.
Sell stop at
811 for obj. near 807 - 805 area and possibly near 801.70
gap.
Buy stop at 846
for obj. near 848 - 849 area and possibly near 852.
Bulletin - Originally sent 02/12/03 (2:09 pm est)
The sell-stop at 820.50 was hit putting
traders into short positions. The market is showing support in
this area. It is recommended for traders to use a protective buy
stop at 826.50. (Conservative traders can exit the short
position near 822 and scratch the trade).
Bulletin - Originally sent 02/12/03 (2:33 pm est)
The market is showing signs of neutrality
and is now subject to swing either way.
It is recommended for all short positions
taken at the 820.50 to exit and scratch the trade. The market is
trading at 822 at this time.
Results: 02/12/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S &
P - For Thursday
02-13-03 : 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 -
819 and 819.50 intra-day channels
also 820.40 day channel and 820.70 intra-day double peak (major
area) / 824.70 and 827 peaks (major area)
/ 830.30 and 831 peaks also 831.50 day top
and 833.40 day channels (very
major area) / 837 day channel (major)
/ 840 minor day channel and 842 day
channel also 842.60 day top (very
major area) / 845.20 day top (major)
/ 849.50 GBX top (major) / 853,
853.50 and 854.20 minor channels also 854.70 weekly closing
price (very major area).
Support: For
the March contract -
816.30 and 816
day bottoms also 815 and 814 monthly closing prices and 814
minor down channel (very
major area) / 805 rev.
peak and 804.90 weekly closing price and 801.70 day gap (very
major area) / 791.50 rev. peak (major)
/ 781.30 major monthly channel and 776.90
lowest day session closing price (very
major area) / 767.50 major
monthly bottom (very major
area).
Comments:
The sell-off on
Wednesday from the resistance keeps the market in bearish
territory facing the major gap at 816 to 801.70 that was left
from Oct. 11, 2002. A trade below the 814 down channel can
bring prices down near the 805 - 801.70 gap and possibly
challenge the 781.30 major monthly channel. A trade today
above 833.40 is slightly bullish but only a trade above 842 can
bring any solid bullishness back to the chart. Remain
defensive inside the 820.40 - 814 trading range.
Day trades:
For the March contract -
Aggressive traders can sell
rallies near 819 - 820.50 area for obj. near 816.50 - 814 area.
(Use a protective buy stop at 824.80. Do not rev. long).
Very aggressive
traders can buy dips near 816.50 - 814 area for obj.
near 819 - 820.50 area. (Use a sell stop and rev. short at
811).
Sell stop at 811
for obj. near 807 - 805 area and possibly near the 801.70 gap.
Sell stop at 798
for obj. near 793 - 791.50 area.
Sell stop at 788
for obj. near 784 - 781.30 area.
Very
aggressive traders can attempt long positions near
781.30 for obj. near 788 - 791 area. (Use a protective
sell stop at 775.70. Do not rev. short).
Aggressive traders can sell rallies
near 830 - 833 area if it gets there for obj. near 826 - 824 and
possibly near 822. (Use a protective buy stop at 838.70.
Do not rev. long).
Bulletin - Originally sent 02/13/03 (9:44 am est)
The first two trades are now complete.
The buy at 816 for an obj. at 819 was complete and then the sell at
819 for an obj. of 816 is now complete also.
Bulletin - Originally sent 02/13/03 (11:04 am est)
The sell stop was hit at 811 putting
traders into short positions. The sell-off down to 808.50 seems
to be holding support at this time. It is recommended
for traders to exit the short position and take profits. rallies
from this area are now possible. The market is trading
at 809.50 at this time.
Results: 02/13/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S &
P - For Friday
02-14-03 : 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 -
824.70 intra-day channel and peak (major
area) / 827 peak and 828.10 day
channel (very major area)
/ 829.80 day session closing price and
830.50 weekly closing price also 831.50 day top and 832.40 day
channel (very major area)
/ 836 day session closing price and 838.50
day channel and minor day channel (very
major area) / 842.60 and 845.20 day tops (major
area) / 849.50 GBX top (major) / 852
and 853 minor day channels also 854.70 weekly closing price
(very major area)
/ 860.30 weekly closing price also 861 and 863.90 day tops (major
area) / 866.60 GBX top and 867.80
weekly top (very major
area).
Support: For
the March contract -
817.80 and 817 intra-day channel
also 817.30 and 816 base (major area) / 814.70
and 814.50 base area also 812.50 base (very
major area) / 808.50
and 807.20 base (major) / 805.30 bottom
and 805 rev. peak also 804.90 weekly closing price and 801.70
day gap (very major area)
/ 791.50 rev. peak (major) / 781.80
major monthly channel and 776.90 lowest day session closing
price (very major area)
/ 767.50 major monthly bottom (very
major area).
Comments:
The sell-off and rally
on Thursday remained inside the trading range but managed to
close up for the day taking some of the bearishness out of the
chart and leaving it neutral to bearish. A trade above
828.10 and 832.40 channels is slightly bullish but only a trade
above 838.50 channel and 842.60 day top can bring any solid
bullishness back to the chart. A trade today below 812.50
is slightly bearish and a trade below 807.20 - 805 will
challenge the 801.70 day gap and possibly near the 781.30
monthly channel. Remain defensive inside the 828.10 - 816
neutral trading range.
Day trades:
For the March contract -
Aggressive traders can sell
rallies near 824 - 827 area and if possible near 828 for obj.
near 820 - 818 area and possibly near 816. (Use a buy stop
and rev. long at 834.20). (Conservative traders can use a
protective buy stop at 830. Do not rev. long).
Very
aggressive traders can attempt long positions at 817
for obj. near 820 - 821 area. (Use a protective sell stop
at 814.30. Do not rev. short). or (Use a sell stop and
rev. short at 811).
Buy stop at 834.20
for obj. near 837 - 838.50 area.
Buy stop at 846 for
obj. near 849.40 and possibly near 852.
Sell stop at 811
for obj. near 809 - 807.50 area.
Sell stop at 804
for obj. near 802 - 801.70 gap.
Sell stop at 798
for obj. near 793 - 791.50 area.
Sell stop at 788
for obj. near 784 - 781.30 area.
Bulletin - Originally sent 02/14/03 (9:53 am est)
The very aggressive trade just missed the
817 this morning and rallied to the obj. The sell-off down to
817 finally executed the buy for the very aggressive trade, but
because the obj. at 820 - 821 was met, it now changes the obj. to 819,
which just got hit. It is recommended for traders to exit and
take profits at the market at this time.
Bulletin - Originally sent 02/14/03 (11:40 am est) Short positions were taken at 824 and 828 area according to the first trade listed. The sell-off down to 820 now completes the trade. Bulletin - Originally sent 02/14/03 (4:15 pm est)
The buy stop was hit at 834.20 putting
traders into long positions. The rally up to 837 meets the obj.
and completes the trade.
Results: 02/14/03
The
week in review - 02/18/03 -
02/21/03
The Tech Guru's S & P Day
Trading Recommendations
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P -
For Tuesday
02-18-03 : 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 -
842.60 and 845.20 day tops (major
area) / 849 minor day channel and
849.50 GBX top also 850 and 850.70 minor day channels (very
major area) / 854.70 weekly
closing price and 856.10 minor weekly channel (very
major area) / 860.30 weekly closing price and 861 day
top also 863.90 weekly top (major area) / 866.60
GBX top and 867.80 weekly top (very
major area) / 882.50 day top to
883 day gap also 885.50 GBX top (very
major area) / 889.70 day top and 891.80 GBX top (major
area).
Support: For
the March contract -
836 intra-day channel and 835.70 base (major
area) / 831 rev. peak and 830.50 minor day channel (major
area) / 825.80 rev. peak and base also 825.80 intra-day
channel (major area) / 821.50
intra-day channel and base also 820.20 base (very
major area) / 813.70 day bottom
and 812.50 base (very major area)
/ 806.60 newly developed major day channel and
805.30 weekly bottom also 801.70 day gap (very
major area) / 791.50 rev. peak (major)
/ 781.80 major monthly channel and 776.90 lowest
day session closing price (very
major area).
Comments:
The rally on Friday
reversed the momentum and managed to close up for the week leaving the
chart neutral between 856.10 and 821.50 trading range. A trade
above 856.10 is bullish for possible higher prices to develop but the
market must prove to trade above the 867.80 weekly top to bring any
solid bullishness back to the chart. A trade below 830.50 is slightly
bearish but a trade below 825.80 and 821.50 areas can bring prices
down to challenge the 801.70 gap and possibly near the 781.80 monthly
channel. Remain defensive inside the first neutral range between
849 - 830.50 and again between the 856.10 and 825.80 trading
range.
Day trades:
For the March contract -
Aggressive traders can sell
rallies near 846 - 849.50 area for obj. near 839 - 836 area.
(Use a protective buy stop at 852.50. Do not rev. long).
Aggressive traders can buy
dips near 832 - 830.50 area for obj. near 836 - 838 area. (Use a
protective sell stop at 827.50. Do not rev. short).
Aggressive traders can attempt
short positions near 855 - 856 area for obj. near 850 - 849
area. (Use a protective buy stop at 859. Do not rev.
long).
Sell stop at 819 for obj.
near 815 - 812.50 area.
Buy stop at 859 for obj.
near 875 - 878 area.
Bulletin - Originally sent 02/18/03 (4:15 pm est)
Due to the time of the day the
sell at 855 - 856 area will be cancelled.
Results: 02/18/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Wednesday
02-19-03 : 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 -
852.40 newly developed minor
day channel and 853 minor day channel also 853.40 day
top (major area) / 854.70
weekly closing price and 856.10 minor weekly channel
(very major area)
/ 860.30 weekly closing price and 861 day top also
863.90 weekly top (major area) / 866.60
GBX top and 867.80 weekly top (very
major area) / 882.50
day top to 883 day gap also 885.50 GBX top (very
major area) / 889.70 day top and 891.80
GBX top (major area) / 903.10
weekly closing price (very
major area).
Support: For
the March contract -
847.60 minor day channel
with GBX prices and 847.20 intra-day channel also 845.20
and 844.80 base area (major area) / 840
day bottom and 838.90 minor day channel also 837 weekly
gap and 836 GBX weekly bottom (very
major area) / 830.50 weekly closing
price (major area) / 821.50
and 820.20 base area also 819.70 intra-day gap (very
major area) / 816.80 lowest weekly
closing price (major) / 813.70
day bottom (very
major area) / 807
major day channel and 805.30 weekly bottom (very
major area) / 801.70
day gap (very major
area).
Comments:
The
follow-through rally on Tuesday brought prices up near
the major resistance. A trade above 856.10 will
put the chart in bullish territory for possible higher
prices. A trade above the 861 and 867.80 top area
will be considered a breakout for prices to challenge
the 882 - 883 gap area. A trade today below 847.80
is slightly bearish but a trade below 836 can bring
prices down to challenge the 821.50 - 820.20 area.
Remain defensive inside the narrow 853 - 847.80 neutral
range.
Day
trades: For the March contract -
Aggressive traders
can sell rallies near 852 - 853 area or buy
dips near 848.50 - 847.60 area, whichever side comes
first to complete the trade. (Use a protective buy
stop at 858. Do not rev. long). (Use a sell
stop and rev. short at 844.70).
Sell stop
at 844.70 for obj. near 841.50 - 840 area and
possibly near 838.
Sell stop
at 833 for obj. near 830 - 829 area.
Sell stop
at 827 for obj. near 822.50 - 821.50 area.
Buy stop at
864.20 for obj. near 867 - 867.80 top area.
Buy stop at
871 for obj. near 875.50 - 878.80 area.
Bulletin - Originally sent 02/19/03 (9:43 am est)
The sell stop and rev. short at
845.80 is now changed to 844.70.
Bulletin - Originally sent 02/19/03 (9:49 am est)
Long positions were taken at 847
but there does not seem like any follow through support from
this area. It is recommended for traders to exit the
long position at 849 and take profits.
Bulletin - Originally sent 02/19/03 (11:54 am est)
The sell stop at 844.70 was hit
putting traders into short positions. The sell-off and
chart formation down to 842.10 is showing signs of support
for short positions to exit and take profits. Traders
still holding short positions should exit and scratch the
trade.
Results: 02/19/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Thursday
02-20-03 : 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 -
846.20 minor day channel and
846.80 day channel (major area) / 849.80
day top to 851.60 day gap also 851.30 minor day channel
(very major area) / 853.40
day top and 856.10 minor weekly channel (very
major area) / 860.30 weekly closing price
and 861 day top also 863.90 weekly top (major
area) / 866.60 GBX top and
867.80 weekly top (very
major area) / 882.50
day top to 883 day gap also 885.50 GBX top (very
major area) / 889.70 day top and 891.80
GBX top (major area) / 903.10
weekly closing price (very
major area).
Support: For
the March contract -
846.10 newly developed day
channel (Significant) / 841.80
base and 840.80 intra-day channel also 839.70 minor day
channel with GBX prices (very
major area) / 838 day bottom and 837
weekly closing price also 836.30 GBX bottom (major
area) / 831 rev. peak and 830.50 weekly closing
price (major area) / 821.50
and 820.20 base area also 819.70 intra-day gap (very
major area) / 816.80 lowest daily closing
price (major) / 813.70
day bottom (very
major area) / 807.50
major day channel and 805.30 weekly bottom also 804.90
lowest weekly closing price (very
major area) / 801.70
day gap (very major
area).
Comments:
Wednesday's
trading session remained inside the neutral range leaving
the chart in neutral condition between the 846.80 and
840.80 range. A trade above the 846.80 - 851.30 area
is slightly bullish but a trade above 856.10 will be
considered a breakout for higher prices to develop.
A trade today below the 840.80 - 839.70 area is bearish
and a trade below 836 will confirm lower prices to
challenge the 830.50 and 821.50 support areas.
Remain defensive inside the 846.80 - 840.80 neutral
range.
Day trades: For
the March contract -
Aggressive traders can
sell rallies near 846 and if possible near 849 -
851 area for obj. near 843.30 and possibly near 840.80
area. (Use a buy stop and rev. long at 858.20).
Aggressive traders can
buy dips near 843.30 - 840.80 area for obj. near
845 - 846 area and possibly near 849 - 851 area.
(Use a sell stop and rev. short at 834.80).
Buy stop at
858.20 for obj. near 860 - 862 area.
Buy stop at
864.20 for obj. near 866.20 - 867.80 top area.
Buy stop at
871 for obj. near 875.50 - 878.50 area.
Sell stop at
834.80 for obj. near 831.50 - 830.50 area.
Sell stop at
827 for obj. near 822.50 - 821.50 area.
Sell stop at
818.70 for obj. near 816.70 - 814.50 area.
Bulletin - Originally sent 02/20/03 (10:08 am est)
Short positions were taken
at 847.50 and 849. The sell-off down to 844.10 is near
enough to the 843.30 obj. to complete the trade. Anyone
who did not exit on the sell-off should consider exiting and
scratching the trade.
Bulletin - Originally sent 02/20/03 (10:50 am est)
Long positions were taken on the
sell-off at 841.50. The market is showing signs of
weakness and the obj. to 845 does not seem likely at this
time. It is recommended for traders to exit the long
position and wait for the next signal. The market is
trading at 840 at this time.
Bulletin - Originally sent 02/20/03 (3:57 pm est)
Due to the chart formation and
time of the day the sell stop at 834.80 will be cancelled
and removed at this time.
Results: 02/20/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Friday 02-21-03: 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 -
839 intra-day channel and 840.50
peak also 841.70 rev. channel (major area) /
843.50 peak and 845.50 intra-day channel also 846.10 day
channel (major area) / 847.20
minor day channel and 848.70 day channel with GBX prices
also 849.30 day top and 851 minor day channel (very
major area) / 851.60 day gap also 851.80 and
852.20 GBX tops (major area) / 853.40
day top and 856.10 minor weekly channel (very
major area) / 860.30 weekly closing price
and 861 day top also 863.90 weekly top (major area)
/ 866.60 GBX top and 867.80 weekly top
(very major area)
/ 882.50 day top to 883 day gap also
885.50 GBX top (very
major area).
Support: For
the March contract -
838 intra-day channel and 837.50
intra-day gap also 837 base and 835.70 day bottom (major
area) / 834.50 intra-day down channel also 833.40
minor down channel (major area) / 831
rev. peak and 830.50 weekly closing price also 829.50
intra-day down channel (very
major area) /
821.50 and 820.20 base area also 819.70 intra-day gap (very
major area) / 816.80 lowest daily closing
price (major) / 813.70
day bottom (very major
area) / 807.50 major
day channel and 805.30 weekly bottom also 804.90 lowest
weekly closing price (very
major area) / 801.70
day gap (very major
area).
Comments:
The sell-off on Thursday from the major
resistance brought prices down to close in neutral to
slightly bearish territory. Prices can still whiplash
to both sides of the neutral range between the 846 -
833.40 area with no solid direction. A trade above
846.10 - 848.70 area is slightly bullish but only a trade
above 856.10 can bring any solid bullishness back to the
chart. A trade today below 833.40 is slightly bearish
but a trade below the 830.50 - 829.50 area can bring prices
down to challenge the 821.50 - 819.70 area. Prices can
also trade down near the 813.70 bottom and possibly down
near the 801.70 open gap area. Remain defensive
inside the 846 - 833.40 neutral area until a solid
direction can develop.
Day trades:
For the March contract -
Aggressive traders can sell rallies near
844.50 - 846 and if possible near 848.70 - 851 area for obj.
near 841 - 839.50 area and possibly near 838. (Use a
buy stop and rev. long at 858.20). (Conservative
traders can use a protective buy stop at 854.20. Do
not rev. long).
Aggressive traders can buy dips near 834.50
- 833.40 area for obj. near 836.50 - 837.50 area and
possibly near 839. (Use a sell stop and rev. short at
827).
Buy stop at 858.20 for obj. near 860 - 862
area.
Buy stop at 864.20 for obj. near 866.20 -
867.80 top area.
Buy stop at 871 for obj. near 875.50 -
878.50 area.
Sell stop at 827 for obj. near 822.50 -
821.50 area.
Sell stop at 818.70 for obj. near 816.70 -
814.50 area.
Sell stop at 810.70 for obj. near 808 - 805
area and possibly near the 801.70 day gap.
Bulletin
- Originally sent 02/21/03 (10:47
am est)
The sell-off to 834 put traders
into the long position. The rally up to 836 meets the
obj. and completes the trade.
Bulletin - Originally sent 02/21/03 (3:30 pm est)
Short positions were taken at
845.50 and 849.50. The resistance still remains at
856.10 but the first support is now at 844.50 intra-day
bottom.
It is recommended for traders to
exit the first short position near 844.50. The second
position can continue to use obj. near 841 - 839 area or
market on close, whichever comes first.
Bulletin - Originally sent 02/21/03 (3:55 pm est)
The sell-off down to 845.80 is
showing signs of support. It is recommended to exit all
short positions and take profits. The market is trading
at 847 at this time.
Results: 02/21/03
The
week in review - 2/24/03 - 02/28/03
The Tech Guru's S & P Day
Trading Recommendations
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P - For Monday
02-24-03: 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 -
848.50 Intra-day
channel also 848.20 and 849.50 newly developed minor weekly channel
also 849.30 and 849.90 newly developed day channels also 849.30 and
850.30 peaks (very major area) /
851.50 and 851.90 minor day channels and 852.20
minor weekly channel also 852.30 day top and 853.40 weekly top (very
major area) / 860.30 weekly closing price and 861 day
top also 863.90 weekly top (major area) / 866.60
GBX top and 867.80 weekly top (very
major area) / 876 minor day channel (major) /
882.50 day top to 883 day gap also 885.50 GBX
top (very major area) /
889.70 day top and 891.80 GBX top (major area) / 900.50
long term major day channel also 903 long term major weekly channel
(very major area).
Support: For the March
contract -
845.80 double bottom base also 844.50 base (major
area) / 840 and 838.50 base (major area) / 834.70
intra-day channel also 834.20 and 833.30 day channels (very
major area) / 830.50 weekly
closing price and 830 weekly bottom (very
major area) / 826 and 824.30 minor down channels (major
area) / 819 and 816.80 day session closing prices (major
area) / 813.70 day bottom (very
major) / 809.50 major day channel
also 807.40 major weekly channel (very
major area) / 805.30 weekly bottom and 801.70 day gap (major
area).
Comments:
The rally on Friday from the support area brought
prices up to the very major resistance area leaving the chart inside the
first neutral narrow range between 849.50 and 844.50. The market
managed to close up for the second week in a row leaving the chart
slightly supportive but a breakout to either side of the wide trading
range between 852.20 and 834.20 can possibly point a direction.
Remain defensive inside the first neutral range but pay respect to any
breakout above or below the wider trading range.
Day trades: For the March
contract -
Aggressive traders can sell rallies near 848 - 849.90
area or buy dips near 845.80 - 844.50 area, whichever side comes first,
to complete the trade. (Use a buy stop and rev. long at 855.20).
(Use a sell stop and rev. short at 841.50).
Aggressive traders can sell rallies near 851 - 852.20
area for obj. near 840 - 838.50 area and possibly near 835. (Use a
buy stop and rev. long at 855.20).
Aggressive traders can buy dips near 835 - 833.30 area
for obj. near 838.50 - 840 area and possibly near 843. (Use a
sell stop and rev. short at 829).
Buy stop at 855.20 for obj. near 858.50 - 860 area.
Buy stop at 864.20 for obj. near 866.20 - 867.80 top
area.
Buy stop at 871 for obj. near 875 - 876 area.
Sell stop at 841.50 for obj. near 840 - 838.50 and
possibly near 835.
Sell stop at 829 for obj. near 826.50 - 826 area and
possibly near 824.50.
Sell stop at 822 for obj. near 819 - 816.80 area.
Bulletin - Originally sent 02/24/03 (11:07 am est) The sell-off down to 837 put traders into long position and completing the trade on the rally up to the 840 - 841 area.
Another sell-off down to the support at
838 and 835 area for a buy is now considered a high risk trade and only
for very aggressive traders. Repeating a trade is always considered
a higher risk from the first time it is taken.
Bulletin - Originally sent 02/24/03 (11:09 am est)
The sell-off down to 837 put traders into long position and completing
the trade on the rally up to the 840 - 841 area.
Another sell-off down to the support at 838 and 835 area for a
buy is now considered a high risk trade and only for very aggressive
traders. Repeating a trade is always considered a higher risk
from the first time it is taken.
Results: 02/24/03
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P -
For Tuesday 02-25-03: 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 -
834 and 835 peaks also 834.70 intra-day channel (major area)
/ 837.70 day channel also 836 and 836.80 peaks (major area)
/ 841.30 intra-day peak (major) / 845
day top to 847.20 weekly gap also 847.10 newly developed day channel
(very major area)
/ 850.20 GBX top and 851 minor day channel
also 852.30 day top and 853.40 weekly top (very
major area) / 860.30 weekly closing price and 861
day top also 863.90 weekly top (major area) / 866.60
GBX top and 867.80 weekly top (very
major area) / 873.50 minor day channel (major)
/ 882.50 day top to 883 day gap also 885.50
GBX top (very major area).
Support: For
the March contract -
832 minor day channel and 830 weekly bottom (major area)
/ 822 down channel also 821.50 and 820.20 base
(very major area) /
818.60 down channel and 816.80 lowest day session close also 816.20
intra-day gap (major area) / 813.70
day bottom (very major)
/ 809.50 major day channel also 807.40 major
weekly channel (very major
area) / 805.30 weekly bottom and 801.70 day gap (major
area) / 791.50 rev. peak (major) / 781.80
major monthly channel and 776.90 lowest day session closing price
(very major area).
Comments:
The sell-off on Monday from the resistance proved
the significance of the area and managed to bring prices below the
first major support leaving the chart in neutral to slightly bearish
condition. The market is still subject to swings to both sides
of the 837.70 - 821.50 neutral area. A trade above 837.70 is
slightly bullish but only a trade above the 847.10 and 851 area can
bring any solid bullishness back to the chart. A trade below 822 -
818.60 area is bearish for prices to challenge the 807.40 major
support. Remain defensive inside the 837.70 - 821.50 neutral
area.
Day
trades: For the March contract -
Aggressive traders can buy dips near 823 - 821 area
for obj. near 828 and possibly near 830. (Use a sell stop and
rev. short at 815.70).
Aggressive traders can sell rallies near 834 and if
possible near 837 for obj. near 830 and possibly near 828.
(Use a protective buy stop at 841.70. Do not rev. long).
Aggressive traders can sell rallies near 846 - 847
area for obj. near 843 - 841 area and possibly near 840. (Use
a buy stop and rev. long at 855.70).
Sell stop at 815.70 for obj. near 813.70 - 810
area.
Sell stop at 798 for obj. near 793 - 791.50 area.
Sell stop at 788 for obj. near 783 - 781.80 area.
Buy stop at 855.70 for obj. near 859.50 - 861 area.
Buy stop at 864 for obj. near 866 - 867.50 area.
Bulletin - Originally sent 02/25/03 (9:49 am est) Long positions were taken at 823 on the opening. The first
rally up to 826.50 was near enough to the 828 area to complete the
trade. Traders who did not take advantage of the first rally
should now look to exit near the 825 - 826.50 double top area to
complete the trade. Do not allow this trade to go into a
loss. (Use a protective sell stop at 823 to scratch the
trade).
Results:
02/25/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S & P
- For Wednesday 02-26-03: 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 -
843 peak and 843.40 day channel also
844.30 day channel with GBX prices (very
major area) / 845 day top to 847.20 weekly close
gap (major area) / 850
minor day channel and 850.20 GBX top also 852.30 day top and
853.40 weekly top also 854.70 monthly closing (very
major area) / 860.30 weekly closing price and
861 day top also 863.90 weekly top (major area)
/ 866.60 GBX top and 867.80 weekly top
(very major area)
/ 871.50 minor day channel (major area) / 882.50
day top to 883 day gap also 885.50 GBX top (very
major area) / 889.70 day top and 891.80 GBX top (major
area) / 898.50
long-term major day channel and 903 long-term major weekly
channel (very major
area).
Support: For
the March contract -
837.50 base (major) / 834.50 and 833.50 base (major
area) / 832.50 and 830.50 base
also 830.50 intra-day channel (very
major area) / 828 and 827 base area (major
area) / 822.70 and 821 base (major area)
/ 818.50 and 817.50 newly developed day
channels also 817 day bottom (very
major area) / 813.70 day bottom (major)
/ 809.70 major day channel and 807.40
major weekly channel (very
major area) / 805.30 weekly bottom and 801.70
day gap (major area) / 791.50 rev. peak (major)
/ 781.80 major monthly channel (very
major area).
Comments:
The rally on Tuesday from the support area
brought prices up again to the major resistance leaving the
chart neutral between the 844.30 and 830.50 trading range.
A trade above 850.20 - 854 will be considered a breakout for
higher prices to develop. A trade below 830.50 is slightly
bearish but a trade below 817 - 813.70 area will challenge the
807.70 - 801.70 area and possibly down near the 781.80 major
support. Remain defensive inside the 844.30 - 830.50
neutral range.
Day
trades: For the March contract -
Aggressive traders can buy dips near 832 -
830.50 area for obj. near 837.50 and possibly near 840 - 843
area. (Use a sell stop and rev. short at 826).
Aggressive traders can sell rallies near 840 -
843 area for obj. near 835 and possibly near 832. (Use a
buy stop and rev. long at 846).
Sell stop at 826 for obj. near 823 - 821 area
and possibly near 819.
Sell stop at 815.70 for obj. near 813.70 -
810.70 area and possibly near 808.
Sell stop at 798 for obj. near 793 - 791.50
area.
Buy stop at 846 for obj. near 848 - 850 area
and possibly near 851.
Buy stop at 855.30 for obj. near 858 - 860
area.
Buy stop at 864 for obj. near 866 - 867.80 top
area and possibly near 871.
Bulletin - Originally sent 02/26/03 (3:10 pm est)
The sell stop was hit at 826 putting traders into short
positions. The chart formation has a technical
supportive structure that can stimulate buying at this time.
It is recommended for traders to exit the short position at
827.50 or better and scratch the trade.
Results: 02/26/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Thursday 02-27-03: 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 -
830 peak and 831.50 intra-day channel (major area)
/ 834.30 peak and 834.90 day channel
with GBX prices also 835.90 day channel and 836 peak
(very major area)
/ 840 day channel and top and 840.20
GBX channel also 841.50 day channel with GBX prices
(very major area)
/ 843.50 GBX top and 845 day top (major area)
/ 847.20 weekly closing gap and 849 minor day channel also
850.20 GBX top (major area) / 852.30
day top and 853.40 weekly top also 854.70 monthly close
(very major area) /
860.30 weekly closing price and 861 day top also 863.90
weekly top (major area) / 866.60
GBX top and 867.80 weekly top (very
major area).
Support: For
the March contract -
826.80 base and 826.50 intra-day channel also 826.10 base
and 825.50 bottom (major area) / 819.90
day channel also 818.80 base and 817 day bottom (very
major area) / 813.70 day bottom (major)
/ 810 major day channel and 807.70
major weekly channel (very
major area) / 805.30 weekly bottom and
801.70 day gap (major area) / 791.50 rev.
peak (major) / 781.80
major monthly channel (very
major area).
Comments:
The sell-off on
Thursday from the resistance keeps the chart inside the
neutral range between 840 and 819.90. A trade above
849 - 853 area will be considered a breakout for higher
prices. A trade below 810 - 807.70 area will fail
the major support for prices to challenge the 801.70
gap and possibly near the 781.80 monthly channel support.
Remain defensive inside the 840 - 819.90 neutral range.
Day
trades: For the March contract -
Aggressive traders can sell rallies near
831.50 - 834.90 area for obj. near 827.50 - 826.50 area.
(Use a protective buy stop at 837.30. Do not rev.
long).
Aggressive traders can buy dips
near 827 - 826 area for obj. near 830 - 831.50 area.
(Use a sell stop and rev. short at 825).
Aggressive traders can sell rallies near
839.50 - 840 area and if possible near 841.50 for obj.
near 837 - 835 area. (Use a buy stop and rev. long
at 845.30).
Buy stop at 845.30 for obj. near 847.20 -
849 area.
Buy stop at 855.30 for obj. near 858.30 -
860.30 area.
Sell stop at 825 for obj. near 822 - 820
area.
Sell stop at 815.50 for obj. near 813.70
- 810 area.
Bulletin - Originally sent 02/27/03 (9:51 am est)
Short positions were taken at 833.50.
The sell-off down to 830, is the reverse peak and can be support.
The market is proving to hold the area for possible rallies. It is
recommended for traders to exit the short position near 831.50 and take
profits.
Bulletin - Originally sent 02/27/03 (12:00 pm est)
Short positions were taken at the 840 level.
The double bottom sell-off down to 837.60 completes the trade.
Results: 02/27/03
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P - For Friday
02-28-03: 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 -
839.80 newly developed day channel also 840 and
841 peaks and 840 intra-day channel also 841.80 minor day channel with
GBX prices and 842.70 day top (very
major area) / 845 day top to 847.20 weekly closing gap
also 848.50 minor day channel (major area) / 850.20
GBX top and 852.30 day top also 853.40 weekly top and 854.70 monthly
closing gap (very major area)
/ 860.30 weekly closing price and 861 day top also 863.90 weekly top (major
area) / 866.60 GBX top and 867.80
weekly top also 867.50 minor day channel (very
major area) / 882.50 day top to
883 day gap and 885.50 GBX top (very
major area).
Support: For
the March contract -
837.20 intra-day channel also 835 and 834.30 base area (major
area) / 831.50 day channel and
intra-day channel also 831.50 and 830.50 base area (very
major area) / 827.90 minor day channel also 826.70 and
825.50 day bottoms (major area) / 821
day channel (very major area)
/ 817 day bottom (major) / 813.70 day bottom (major)
/ 810 major day channel and 807.70 major weekly
channel (very major area)
/ 805.30 weekly bottom and 801.70 day gap
(very major area) /
791.50 rev. peak (major) / 781.80
major monthly channel (very major
area).
Comments:
The rally on Thursday from the support area
remained inside the neutral range keeping the chart neutral between
841.80 and 831.50. A trade above 841.80 - 842.70 is slightly
bullish but a trade above 848.50 - 853.40 area will be considered a
breakout for higher prices. A trade below 831.50 is slightly
bearish but a trade below 821 - 817 area can bring prices down to
challenge the 807.70 - 805.30 major support and possibly near the
781.80 major monthly support. Remain defensive inside the
841.80 - 831.50 neutral area.
Day
trades: For the March contract -
Aggressive traders can sell rallies near 839 - 840
area and if possible near 841.80 for obj. near 837 - 835 area and
possibly near 833.50. (Use a buy stop and rev. long at 843.80).
Aggressive traders can buy dips near 833.50 - 831.50
area for obj. near 837 - 839 area. (Use a sell stop and
rev. short at 825).
Buy stop at 843.80 for obj. near 847.20 gap - 848.50
area.
Buy stop at 855.30 for obj. near 858.30 - 860.30
area.
Sell stop at 825 for obj. near 823 - 821 area.
Sell stop at 815.80 for obj. near 813.80 - 810.80
area.
Bulletin - Originally sent 02/28/03 (10:25 am est)
The buy stop at 843.80 was hit putting traders
into long positions. The rally up to 847 meets the obj. and
completes the trade.
Results: 02/28/03
HYPOTHETICAL
PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED
BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO
ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY
SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL
RESULTS ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.
|
|
Home | Bulletin Service | S & P Report | Comments | Order Form | Archived S & P Reports | Feedback The Tech Guru, Inc. 52-56 West Main Street Luray, VA 22835 540-843-GURU (FAX) 540-743-4056
Send mail to webmaster@thetechguru.com
with questions or comments about this web site.
|