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The week in review - 02/03/03 - 02/07/03

The Tech Guru's S & P Day Trading Recommendations

thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Monday 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.

* 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 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

Sold @ 859 Bought @ 855.50 = + $ 875.00

TOTAL (P & L) + $ 875.00

thetechguru.com

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.

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

Bought @ 849 Sold @ 845.70 = - $ 825.00

Sold @ 845.70 Bought @ 843 = + $ 675.00

TOTAL (P & L) - $ 150.00

thetechguru.com

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.

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

Sold @ 853 Bought @ 849 = + $1,000.00

Bought @ 845 Sold @ 848 = + $ 750.00

TOTAL (P & L) + $1,750.00

thetechguru.com

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.

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

Sold @ 844.50 Bought @ 841 = + $ 875.00

Sold @ 833 Bought @ 834 = - $ 250.00

TOTAL (P & L) + $ 625.00

thetechguru.com

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.

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

Sold @ 845 Bought @ 842 = + $ 750.00

Bought @ 837 Sold @ 836 = - $ 250.00 as per bulletin

Sold @ 830 Bought @ 833 = - $ 750.00

TOTAL (P & L) - $ 250.00

The week in review - 02/10/03 - 02/14/03

The Tech Guru's S & P Day Trading Recommendations

thetechguru.com

A TECHNICAL GUIDE FOR DAY TRADING THE S & P

S & P - For Monday 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.

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

Sold @ 832.50 Bought @ 829 = + $ 875.00

Sold @ 834 Bought @ 829.50 = + $1,125.00 sold as per bulletin

TOTAL (P & L) + $2,000.00

thetechguru.com

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.

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

Sold @ 838.50 Bought @ 838 = + $ 125.00

Sold @ 841.50 Bought @ 838 = + $ 875.00

Sold @ 833 and cancelled the buy at 830 as per bulletin

Sold @ 833 Bought next support @ 824.50 = + $2,125.00

TOTAL (P & L) + $3,125.00

thetechguru.com

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.

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

Sold @ 820.50 Bought @ 822 = - $ 375.00

TOTAL (P & L) - $ 375.00

thetechguru.com

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.

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