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Archived S & P Daily Reports

THERE IS RISK OF LOSS IN ALL TRADING. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. ALL RESULTS ARE HYPOTHETICAL. THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.

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The week in review - 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.
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.
 

* 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.

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.
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.
 

* 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 02/05/03 (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.
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.
 

* 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 02/06/03 (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.
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.
 

* 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 02/07/03 (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
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.
 

* 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 02/10/03 (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.
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.
 

* 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 02/11/03 (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.
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.
 

* 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 02/12/03 (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.
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).
 

* 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 02/13/03 (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

Bought @ 816         Sold @ 819             = + $   750.00    
Sold @ 819             Bought @ 816         = + $   750.00 
Sold @ 811             Bought @ 809.50     = + $   375.00
TOTAL (P & L)                                          + $1,875.00
 
   thetechguru.com 
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.
 

* 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 02/14/03 (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

Bought @ 817         Sold @ 819             = + $   500.00     sold as per bulletin
Sold @ 824             Bought @ 820         = + $1,000.00    
Sold @ 828             Bought @ 820         = + $2,000.00
Bought @ 834.20    Sold @ 837             = + $   700.00
TOTAL (P & L)                                         + $4,200.00
The week in review - 02/18/03 - 02/21/03
The Tech Guru's S & P Day Trading Recommendations
   thetechguru.com 
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.
 

* 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 02/18/03 (4:15 pm est)

 
Due to the time of the day the sell at 855 - 856 area will be cancelled.

Results:    02/18/03

Sold @ 846         Bought @ 852.50       = -  $1,625.00
TOTAL (P & L)                                        -  $1,625.00
 
   thetechguru.com 
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.
 

* 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 02/19/03 (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

Bought @ 847.50     Sold @ 848.50           = + $   250.00     sold as per bulletin
Sold @ 844.70         Bought @ 842.50       = + $   550.00
TOTAL (P & L)                                            +  $   800.00
 
   thetechguru.com 
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.
 

* 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 02/20/03 (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

Sold @ 847.50          Bought @ 844.50      = + $  750.00
Sold @ 849               Bought @ 844.50     = + $1,125.00
Bought @ 841.50      Sold @ 840              = -  $   375.00     sold as per bulletin
TOTAL (P & L)                                            + $1,500.00
 
   thetechguru.com 
A TECHNICAL GUIDE FOR DAY TRADING THE S & P
S & P - For 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.
 

* 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 02/21/03 (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

Bought @ 834         Sold @ 836            = + $   500.00
Sold @ 845.50        Bought @ 847         = -  $   375.00     bought @ 847 as per bulletin
Sold @ 849.50        Bought @ 847         = + $   625.00     bought @ 847 as per bulletin
TOTAL (P & L)                                         +  $   750.00
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.
 

* 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 02/24/03 (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

Bought @ 844         Sold @ 841.50            =  -  $  625.00     
Sold @ 841.50         Bought @ 838.50       = + $  750.00
Bought @ 837         Sold @ 840                = + $  750.00
TOTAL (P & L)                                            +  $  875.00
 
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.
 

* 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 02/25/03 (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

Bought @ 823         Sold @ 826.50          = + $   875.00
Sold @ 832.50        Bought @ 829           = + $   875.00
TOTAL (P & L)                                           + $1,750.00
 
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.
 

* 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 02/26/03 (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

Bought @ 832         Sold @ 837.50          = + $1,375.00
Sold @ 840            Bought @ 835           = + $1,250.00
Sold @ 826            Bought @ 827           =  - $   250.00
TOTAL (P & L)                                           + $2,375.00
 
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.
 

* 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 02/27/03 (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

Sold @ 833.50       Bought @ 831.50      = + $   500.00     bought as per bulletin
Bought @ 827        Sold @ 830              = + $   750.00
Sold @ 840            Bought @ 837.80      = + $   550.00
TOTAL (P & L)                                          + $1,800.00
 
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.
 

* 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 02/28/03 (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

Sold @ 840                 Bought @ 843.80      = -  $   950.00
Bought @ 843.80         Sold @ 847              = + $   800.00
TOTAL (P & L)                                               -  $   150.00

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.

ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.

THERE IS RISK OF LOSS IN ALL TRADING. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. ALL RESULTS ARE HYPOTHETICAL. NO IMPLICATION IF BEING MADE THAT ANYONE UTILIZING THE TECH GURU REPORT HAS OR CAN OBTAIN SUCH PROFITS AND RESULTS. THIS INFORMATION IS NOT A RECOMMENDATION TO BUY OR SELL AT THIS TIME, BUT MERELY A PRESENTATION OF TRADES STRATEGIES. THE INFORMATION CONTAINED HEREIN HAS BEEN OBTAINED FROM SOURCES BELIEVED RELIABLE, BUT IS NOT GUARANTEED AS TO THE ACCURACY OR COMPLETENESS. PLEASE CHECK MARKET FUNDAMENTALS AND TECHNICAL CONDITIONS BEFORE CONSIDERING THESE OR ANY TRADES. 

 

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