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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
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P -
For Monday
02-03-03 : NOTE: After
each support and resistance listed will designate a value - (very
major) holds the highest importance, then (major), (very
significant), and (significant) is of the least value. Very
aggressive trades - are trades that are against the
trend or a high dollar risk when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell stop inside a buy
area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter or
complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where stops ARE
NOT mentioned, they should be placed below the second
support area listed or above the second resistance
area listed, or 22 points from the (trade entry point),
whichever is the lesser amount. NOTE: The
first support area becomes the resistance after the
market trades through the second support area
listed. The first resistance area becomes the support
after the market trades through the second resistance area
listed.
Resistance: For
the March contract -
855.40 GBX channel
and 857 peak and 857.80 day top also 858 minor day channel (very
major area) / 860.30 weekly
closing price and 860.70 daily closing price also 860.30 minor day
channel (very major area)
/ 864.20 minor day channel also 864.50 day top and 866.60 GBX top also
867.80 weekly top (major area) / 875.30 peak also
875.50 and 876.10 rev. base area (major area) / 880.50
minor day channel also 882.50 to 883 day gap and 885.50 GBX top
(very major area) /
889.70 weekly top and 891.80 GBX top (major area).
Support: For
the March contract -
853.70 rev. GBX channel also 851.10 rev.
day channel (major area) / 849.20 intra-day channel
and 847.50 base also 848.80 rev. weekly channel (major area)
/ 844.70 rev. weekly channel without GBX prices
also 843 and 841.80, 841.50 base area also 840.30 newly developed
major weekly channel (very major
area) / 837.40 newly developed
major day channel also 837 weekly bottom and 836 GBX weekly bottom and
down channel (very major area)
/ 827.90 weekly bottom also 825 weekly down
channel (very major area)
/ 816 day bottom and 814 monthly closing price (major area)
/ 805 rev. peak and 804.90 weekly closing price
also 801.70 day gap (very major
area).
Comments:
The rally and close on
Friday from the major support area removed some of the
bearishness out of the chart leaving the technical condition neutral
and supportive. Prices can swing to both sides of the
864.20 - 844.70 trading area until a solid direction is established.
A trade above the 864.20 - 867.80 area can challenge the 875.30 -
876.10 area and possibly near the 882.50 - 883 gap area. A trade
below 849.20 - 847.50 bottom is bearish but a trade below 841.50 -
840.30 weekly channel can bring prices down to challenge the 836
bottom and 827.90 - 825 area and possibly near the 815 monthly closing
price. Remain defensive inside the 864.30 - 844.70 trading area.
Day trades:
For the March contract -
Aggressive traders can sell
rallies near 858 and if possible near 860 for obj. near 854 and
possibly near 851. (Use a buy stop and rev. long at 868.50).
Aggressive traders can buy
dips near 849 - 847.50 area and if possible near 845 for obj. near 853
- 855 area. (Use a sell stop and rev. short at 840).
Buy stop at 868.50 for
obj. near 873 - 875 area.
Buy stop at 878 for obj.
near 880.50 and possibly near 883 gap.
Sell stop at 840 for obj.
near 837 - 836 area.
Sell stop at 833 for obj.
near 828 - 825 area.
Sell stop at 822 for obj.
near 817 - 815 area.
Bulletin - Originally sent 02/03/03 (10:16 am est) Short positions were taken at the 858 - 860 area. The sell-off down to 855.20 was near enough to 854 for traders to have considered exiting and completing the trade. Any trader still short from this trade, should exit near the 859 area and scratch the trade. Results: 02/03/03
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P -
For Tuesday
02-04-03 : NOTE: After
each support and resistance listed will designate a value - (very
major) holds the highest importance, then (major), (very
significant), and (significant) is of the least value. Very
aggressive trades - are trades that are against
the trend or a high dollar risk when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell stop inside a buy
area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter or
complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where stops ARE
NOT mentioned, they should be placed below the second
support area listed or above the second resistance
area listed, or 22 points from the (trade entry point),
whichever is the lesser amount. NOTE: The
first support area becomes the resistance after the
market trades through the second support area
listed. The first resistance area becomes the support
after the market trades through the second resistance area
listed.
Resistance: For
the March contract -
860 peak and 860.30 day channel (major
area) / 863 minor day channel also
863.90 and 864 day tops also 866.60 GBX top and 867.80 weekly top
(very major area) /
875.50 and 876.10 rev. base and 876.50 minor day channel (major
area) / 882.50 day top to 883 day gap
and 885.50 GBX top (very major
area) / 889.70 day top and 891.80 GBX top (major
area) / 903.10 weekly closing price
(very major area).
Support: For
the March contract -
856 base and 855.20 day bottom also
854.70 day gap (major area) / 847.50 base (major
area) / 843, 841.80 and 841.50 base
area also 840 day session closing price (very
major area) / 838.20 major day channel and 837
weekly bottom also 836.50 and 836 GBX bottoms (very
major area) / 827.90 weekly bottom
and 825 weekly down channel (very
major area) / 816 day bottom and 814 monthly closing
price (major area) / 805 rev.
peak and 804.90 weekly closing price also 801.70 day gap
(very major area).
Comments:
The whiplashing
action on Monday remained inside the neutral range leaving the chart
neutral again between the 863 and 847.50 area. A trade above
863 - 867.80 area is slightly bullish for prices to challenge the
875 - 883 area. A trade below 847.50 is slightly bearish for
prices to challenge the 843 - 837 area. The neutral condition
can stimulate further whiplashing until a breakout is seen to either
side.
Day trades:
For the March contract -
Aggressive traders can buy dips
near 851 - 848 area for obj. near 857 and possibly near 859.
(Use a sell stop and rev. short at 845.70).
Aggressive traders can sell
rallies near 859 - 863 area for obj. near 855 - 853 area. (Use
a buy stop and rev. long at 869).
Sell stop at 845.70 for
obj. near 843 - 841 area.
Sell stop at 834 for
obj. near 828 - 825 area.
Buy stop at 869 for
obj. near 873 - 875 area.
Buy stop at 893 for
obj. near 897 - 899 area.
Results: 02/04/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Wednesday
02-05-03 : NOTE: After
each support and resistance listed will designate a value -
(very major) holds the highest importance, then (major),
(very significant), and (significant) is of the least value.
Very aggressive trades -
are trades that are against the trend or a high dollar risk
when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell stop
inside a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter
or complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where
stops ARE NOT mentioned, they should be placed below
the second support area listed or above the
second resistance area listed, or 22 points from the (trade
entry point), whichever is the lesser amount. NOTE: The
first support area becomes the resistance after
the market trades through the second support area
listed. The first resistance area becomes the support
after the market trades through the second
resistance area listed.
Resistance:
For the March contract -
852.50 intra-day channel (major)
/ 854 day top also 854.70 day gap and
856.60 GBX channel (very
major area) / 858.50 day gap and 861.80 GBX
top also 862 minor day channel (major area) /
863.90 and 864 day tops also 866.60 GBX
top and 867.80 weekly top (very
major area) / 872.50 minor day channel also
875.50 and 876.10 rev. base area (major area)
/ 882.50 day top to 883 day gap also
885.50 GBX top (very
major area) / 889.70 day top and 891.80 GBX
top (major area).
Support: For
the March contract -
845.20 base and 843.50 intra-day
channel (major area) / 842
and 841 base area also 839.50 major day channel (very
major area) / 838.50 and 837 day bottoms also
836.50 and 836 GBX bottoms (major area) / 833
minor down channel (major) / 828
down channel and 827.90 weekly bottom also 825 weekly down
channel (very major area)
/ 816 day bottom also 815 and 814 monthly closing prices (major
area) / 805 rev. peak and
804.90 weekly closing price also 801.70 day gap (very
major area).
Comments:
The whiplashing
action on Tuesday remained inside the neutral area with no
direction in sight. A trade above 856.60 is slightly
bullish but a trade above the 867.80 top can bring prices up
to challenge the 875 and 883 gap areas. A trade below
843.50 and 839.50 area is bearish and can bring prices down to
challenge the 828 - 825 area and possibly near the 815 to 805
gap area. Remain defensive inside the 856.60 - 843.50
neutral range.
Day trades:
For the March contract -
Aggressive traders can
sell rallies near 853 - 856 area for obj. near 849 -
846 area. (Use a protective buy stop at 857.30. Do
not rev. long).
Aggressive traders can buy
dips near 845.50 - 843.50 area for obj. near 849 and possibly
near 851. (Use a sell stop and rev. short at 834.80).
Sell stop at
834.80 for obj. near 828 - 825 area.
Sell stop at 822
for obj. near 817 - 814 area.
Sell stop at 811
for obj. near 805 - 801.50 area.
Buy stop at 869
for obj. near 872 and possibly near 875 - 876.10 area.
Buy stop at
878.50 for obj. near 881 - 883 area.
Bulletin - Originally sent 02/05/03 (10:31 am est)
Short positions were taken at 853
and completed the first trade at 849.
Long positions were taken at 845.
The rally up to 848 is near enough to the 849 obj. for traders
to consider taking profits at this time. The second
trade is now considered complete.
Results: 02/05/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Thursday
02-06-03 : NOTE: After
each support and resistance listed will designate a
value - (very major) holds the highest importance,
then (major), (very significant), and (significant) is
of the least value. Very
aggressive trades - are trades that
are against the trend or a high dollar risk when wide
stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell
stop inside a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to
enter or complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only.
Where stops ARE NOT mentioned, they should be placed
below the second support area listed or above
the second resistance area listed, or 22 points from
the (trade entry point), whichever is the
lesser amount. NOTE: The
first support area becomes the resistance
after the market trades through the second
support area listed. The first resistance
area becomes the support after the market
trades through the second resistance area
listed.
Resistance:
For the March contract -
845.20 peak and 846.50
intra-day channel (major area) /
847.80, 848.80 and 850 peaks (major area)
/ 856.10 day channel and 856.50
peak (very major
area) / 860.50 minor day channel and 861
day top (major area) / 863.90
and 864 day tops also 866.60 GBX top and 867.80 weekly
top also 868.50 minor day channel (very
major area) / 875.50 and 876.10 rev.
base (major area) / 882.50
day top to 883 day gap also 885.50 GBX top (very
major area) / 889.70 day top and 891.80
GBX top (major area).
Support: For
the March contract -
840
minor channel and 839.90 major day channel also 838.50
day bottom (very
major area) / 837
day bottom also 836.50 and 836 GBX bottoms
(very major area) / 827.90
weekly bottom and 825.50 daily down channel also 825
weekly down channel (very
major area) / 816 day bottom also 815
and 814 monthly closing price (major area)
/ 805 rev. peak and 804.90 weekly
closing price also 801.70 day gap (very
major area).
Comments:
The
whiplashing on Wednesday and sell-off brought prices
down to a very critical support area. A failure
below the 839.90 channel and 837 - 836 bottom area
can bring prices down near the 827.90 - 825 area and
possibly near the 815 and 801.50 gap area. A trade
today above 856.10 is slightly bullish but a trade above
860.50 channel and 867.80 top area will be considered a
breakout for prices to challenge the 875 and 883 gap
area. Remain very defensive inside the 846.50 -
838.50 first trading range.
Day
trades: For the March contract -
Aggressive traders
can sell rallies near 845 - 846.50 area
for obj. near 841 - 840 area. (Use a protective
buy stop at 851. Do not rev. long).
Aggressive traders
can sell rallies near 855 - 856 area for obj.
near 851 - 849 area. (Use a protective buy stop at
858. Do not rev. long).
Sell stop
at 833 for obj. near 828 - 825 area.
Sell stop
at 822 for obj. near 817 - 815 area.
Sell stop
at 811 for obj. near 805 - 801 gap area.
Buy stop at
868.70 for obj. near 873 - 875 area.
Bulletin - Originally sent 02/06/03 (9:41 am est) Short positions were taken on the first rally at 844.50, which was near 845. The obj. still remains at 841 - 840 area and the protective buy stop is at 851. Bulletin - Originally sent 02/06/03 (10:28 am est)
The sell stop was hit at
833, putting traders into short positions. The
market is showing some support in this area and might
not meet the obj at 828. It is recommended for
traders to exit the short position near 834 area
and scratch the trade.
Results: 02/06/03
A TECHNICAL
GUIDE FOR DAY TRADING THE S & P
S
& P - For Friday
02-07-03 : NOTE: After
each support and resistance listed will
designate a value - (very major) holds the
highest importance, then (major), (very
significant), and (significant) is of the least
value. Very
aggressive trades - are trades
that are against the trend or a high dollar risk
when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a
sell stop inside a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any
trade to enter or complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only.
Where stops ARE NOT mentioned, they should be
placed below the second support area
listed or above the second
resistance area listed, or 22 points from the (trade
entry point), whichever is the lesser
amount. NOTE: The
first support area becomes the resistance
after the market trades through the second
support area listed. The first
resistance area becomes the support after
the market trades through the second
resistance area listed.
Resistance:
For the March contract
-
842 and 843 peak also
844.50 day top and 845.50 GBX top (major
area) / 849.30 day
session closing price and 851.20 day channel
(very major area)
/ 854.70 weekly closing price and 856.50 peak (major
area) / 859.50
minor day channel also 861 day top and 861.80 GBX
top (very
major area) / 863.90
and 864.50 day tops also 866.60 GBX top and 867.80
weekly top (very
major area) / 875.50 and 876.10
rev. base (major area) / 882.50
day top to 883 day gap also 885.50 GBX top (very
major area).
Support: For
the March contract -
837 base (major
area) / 833.80 base
and 832 day bottom also 832.80 newly developed
major day channel (very
major area) / 827.90
and 825 weekly down channel (very
major area) / 816 day bottom also
815 and 814 monthly closing price (major
area) / 805 rev.
peak and 804.90 weekly closing price also 801.70
day gap (very
major area).
Comments:
The
whiplashing action on Thursday managed to close
the market at a double bottom to last Thursday's
close, which is technically supportive and could
stimulate some rallies. A trade today above
the 849.30 - 851.20 area is slightly bullish but
only a trade above the 859.50 - 861.80 today can
bring any solid bullishness back to the chart.
A trade today below 837 is slightly bearish but a
trade below the 833.80 - 832 bottom can bring
prices down to challenge the 827.90 - 825 area and
possibly near the 815 - 805 gap area. Remain
defensive inside the 851.20 - 837 neutral trading
area.
Day
trades: For the March contract -
Aggressive
traders can sell rallies near 846 - 849
area and if possible near 851 for obj. near 843 -
841 area and possibly near 838. (Use a protective
buy stop at 852.70. Do not rev. long).
Aggressive
traders can attempt short positions near
858 - 859.50 area for obj. near 854 - 852 area and
possibly near 851. (Use a buy stop and rev.
long at 864.70).
Very
aggressive traders can attempt long positions
near 839 - 837 area for obj. near 843 - 845 area.
(Use a sell stop and rev. short at 830).
(Conservative traders can use a protective sell
stop at 835. Do not rev. short).
Buy
stop at 864.70 for obj. near 866.50 - 867.50 area.
Buy
stop at 870 for obj. near 874 - 876 area.
Buy
stop at 878.70 for obj. near 881.50 - 882.50 area
and possibly near 883 gap.
Sell
stop at 830 for obj. near 828 - 825 area.
Sell
stop at 822 for obj. near 817 - 814 area.
Bulletin - Originally sent 02/07/03 (9:41 am est)
The double top at 845 put
traders into the short positions which is near enough to the
846 sell area. The sell off down to 841.50 completes
the first trade.
Aggressive traders can still
consider the 849.50 - 851 area a sell. Short positions
can be attempted at the 849 - 851 area. (Continue to
use the protective buy stop at 852.70). The obj. for
the second repeated trade will be 845 - 843 area.
Bulletin - Originally sent 02/06/03 (10:25 am est)
The very aggressive trade was
taken at 837. The sell off down to 832 puts the market
at a very defensive position. It is recommended for long
positions to exit near 835 - 836 area and scratch the trade.
Bulletin - Originally sent 02/06/03 (12:00 pm est)
The sell stop was hit at 830
putting traders into the short position. The market has
found support at the 829.50 and 830.80 double bottom. It
is recommended to exit all short positions at the market and
cut losses. The market is trading at 833.80 at this
time.
Results: 02/07/03
The
week in review - 02/10/03 -
02/14/03
The Tech Guru's S & P Day
Trading Recommendations
A TECHNICAL GUIDE FOR DAY
TRADING THE S & P
S & P -
For Monday
02-10-03 : NOTE: After
each support and resistance listed will designate a value - (very
major) holds the highest importance, then (major), (very
significant), and (significant) is of the least value. Very
aggressive trades - are trades that are against the
trend or a high dollar risk when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell stop inside a buy
area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter or
complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where stops ARE
NOT mentioned, they should be placed below the second
support area listed or above the second resistance
area listed, or 22 points from the (trade entry point),
whichever is the lesser amount. NOTE: The
first support area becomes the resistance after the
market trades through the second support area
listed. The first resistance area becomes the support
after the market trades through the second resistance area
listed.
Resistance: For
the March contract -
833 and 834.80 peaks
and 835 intra-day channel also 835.50 peak also 835.80 weekly channel
(very major area) / 837.20
day channel and 838.30 intra-day gap also 838.50 weekly channel (very
major area) / 843.70 day channel
with GBX prices and 845.20 day top (very
major area) / 846.30 day channel with GBX prices and
848.80 day channel (major area) / 849.70
peak and 851.40 minor day channel (very
major area) / 854.70 weekly closing price and 856.50
peak (major area) / 858 minor
day channel also 860.50 minor day channel and 861 day top (very
major area) / 863.90 and 864 day
tops also 866.60 GBX top and 867.80 weekly top (very
major area) / 875.50 and 876.10 rev. base and 877.50
minor day channel (major area).
Support: For
the March contract -
828.70 intra-day channel and 827 base (major
area) / 826 newly developed major day
channel and 825.30 weekly bottom also 824 down channel (very
major area) / 817.60 weekly down
channel also 816 day bottom and 815 monthly closing price (very
major area) / 805 rev. peak and
804.90 weekly closing price also 801.70 day gap (very
major area) / 791.50 rev. peak (major)
/ 781.30 major monthly channel and 776.90 lowest day session closing
price (very
major area).
Comments:
The sell-off on Friday
brought prices down for the fourth day in a row and for the fourth
week in a row leaving the chart in bearish condition. A trade
below 826 - 824 area is bearish and can bring prices down to challenge
the 815 - 801.70 gap area. A trade above 846.30 - 851.40 area is
slightly bullish but only a trade above 858 - 864 area can bring any
solid bullishness back to the chart. Remain defensive inside the
835.80 - 828.70 trading area.
Day trades:
For the March contract -
Aggressive traders can sell
rallies near 834 - 835.50 area for obj. near 829 and possibly near 826
area. (Use a protective buy stop at 839.70. Do not rev.
long).
Aggressive traders can sell
rallies near 848 - 851 area for obj. near 844 - 842 area. (Use a
buy stop and rev. long at 853.50).
Buy stop at 853.50 for
obj. near 856.50 and possibly near 858.
Sell stop at 822 for obj.
near 818 - 815 area.
Sell stop at 811 for obj.
near 807 - 805 area and possibly near 801.70 gap.
Sell stop at 797 for obj.
near 793 - 791.50 area.
Bulletin - Originally sent 02/10/03 (9:52 am est)
Short positions were taken on the first
rally to 832.50, which is near the 834 obj. entry. The sell-off
down to the 829 - 827.90 bottom meets the obj. and completes the first
trade. An attempt to sell the 834 - 835 area again becomes very
aggressive. Rallies at this time can break into the 840 - 843
area, where short positions can be attempted. If short positions
are taken at the 840 - 843 area the obj. will be 836 - 835. (Use a
protective buy stop at 844.50. Do not rev. long).
Bulletin - Originally sent 02/10/03 (12:20 pm est)
The rally up to the 834.80 is proving to
hold the major resistance, which is at 835.80 on the weekly chart.
Aggressive traders can attempt short positions near 832 for an obj.
near 828 - 826 area. (Use a protective buy stop at 837. Do
not rev. long).
Bulletin - Originally sent 02/10/03 (1:01 pm est)
Short positions were taken on the rally
near 832. The obj. still remains near 828 - 826 area.
The protective sell stop is
being moved from 837 up to 838.70.
Bulletin - Originally sent 02/10/03 (2:50 pm est)
Short positions were taken at 834 from the
last bulletin. The sell-off down to 829.20 is near enough to the
828 obj. to complete the trade.
Results: 02/10/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S &
P - For Tuesday
02-11-03 : NOTE: After
each support and resistance listed will designate a value -
(very major) holds the highest importance, then (major), (very
significant), and (significant) is of the least value. Very
aggressive trades - are trades that are
against the trend or a high dollar risk when wide stops are
used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell stop
inside a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter or
complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where stops
ARE NOT mentioned, they should be placed below the
second support area listed or above the second
resistance area listed, or 22 points from the (trade
entry point), whichever is the lesser amount. NOTE: The
first support area becomes the resistance after
the market trades through the second support area
listed. The first resistance area becomes the support
after the market trades through the second
resistance area listed.
Resistance:
For the March contract -
838 minor day
channel with GBX prices also 838.50 weekly channel (very
major area) / 841.50 and
844.70 day channels also 842.50 peak and 845.20 day top (very
major area) / 848 minor day channel and 849.50
GBX top (major area) / 854.70 weekly closing
price and 855.20 minor day channel also 856.50 peak (major
area) / 861 day top and 861.80 GBX top (major
area) / 863.90 and 864 day tops
also 866.60 GBX top and 867.80 weekly top (very
major area) / 875.50 and 876.10 rev. base area (major
area).
Support: For
the March contract -
830.50 and 828.50 base area also 830
intra-day channel (major area) / 824.50
base and 822.60 newly developed major day channel also 822 day
bottom (very major area)
/ 817.60 weekly down channel and
816 day bottom also 815 and 814 monthly closing prices (very
major area) / 805 rev.
peak and 804.90 weekly closing price also 801.70 day gap (very
major area) / 791.50 rev. peak (major)
/ 781.30 major monthly channel and 776.90
lowest day session closing price (very
major area).
Comments:
The rally on
Monday managed to close higher for the day leaving the chart in
neutral to slightly bearish condition. A trade above the
841.50 - 845.20 resistance will remove the bearishness from the
chart but only a trade above the 855.20 - 856.50 can bring any
bullishness back to the chart. A trade today below 828.50
is slightly bearish but a trade below 824.50 - 822 can bring
prices down to challenge the 816 - 814 area and possibly near
the 801.70 day gap. Remain defensive inside the 844.60 -
830 neutral trading range.
.
Day trades:
For the March contract -
Aggressive traders can sell
rallies near 838 - 838.50 and if possible near 841.50 for obj.
near 832 - 830 area. (Use a buy stop and rev. long at
846).
Very aggressive traders can
attempt long positions near 830 - 828.50 area for obj.
near 834 - 836 area. (Use a protective sell stop at 827.
Do not rev. short).
Buy stop at 846 for
obj. near 848 - 849 area.
Buy stop at 864.50
for obj. near 866.50 - 867.50 area.
Sell stop at 820
for obj. near 818 - 817.60 area and possibly near 816.
Sell stop at 811
for obj. near 807 - 805 area and possibly near 801.70 gap.
Bulletin - Originally sent 02/11/03 (10:50 am est)
Short positions were taken at 838.50
and again on the rally at 841.50. The sell-off down to
836.20 is showing some support and can possibly prevent the obj.
from being met.
It is recommended to exit the short
position and take profits at this time. The market is
trading at 838 at this time.
Bulletin -
Originally sent 02/11/03 (1:43 pm est)
The market failed to hit the buy area
at 830 the first time down. It found support at 832.20 to
stimulate rallies up to 837, which meets the obj. The sell
off to 830 again is defensive and a buy is now considered a high
risk trade.
It is recommended for conservative
traders to cancel the buy at 830 - 828.50 area. It is
possible the market can sell-off below the 822 area.
Results: 02/11/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S
& P - For Wednesday
02-12-03 : NOTE: After
each support and resistance listed will designate a value
- (very major) holds the highest importance, then (major),
(very significant), and (significant) is of the least
value. Very aggressive
trades - are trades that are against the
trend or a high dollar risk when wide stops are used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell stop
inside a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to
enter or complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where
stops ARE NOT mentioned, they should be placed below
the second support area listed or above the
second resistance area listed, or 22 points from the (trade
entry point), whichever is the lesser amount. NOTE: The
first support area becomes the resistance
after the market trades through the second
support area listed. The first resistance
area becomes the support after the market trades
through the second resistance area
listed.
Resistance:
For the March contract -
831 and 833 intra-day peaks (major
area) / 837 peak and 838 day
channel (very major
area) / 840.60 day
channel and 841.30 minor day channel (very
major area) / 842.60 day top and 845 day
channel also 845.20 day top (major area) /
849.30 day session closing price and 849.50 GBX top (major
area) / 854.70 weekly closing
price also 854.50 and 855.50 minor day channels (very
major area) / 860.30 weekly closing price
also 861 and 863.90 day tops (major area) /
866.60 GBX top and 867.80 weekly top (very
major area) / 875.50 and 876.10 rev. base
area (major area).
Support: For
the March contract -
829.30 and 828.50 intra-day
channels (major area) / 826.70 and 826.50
base area also 825.40 minor day channel (major area)
/ 823.70 day bottom and 823.20 major
day channel also 822 day bottom
(very major area) / 817.60
weekly down channel and 816 day bottom also 815 and 814
monthly closing price (very
major area) / 805 rev.
peak and 804.90 weekly closing price and 801.70 day gap
(very major area)
/ 791.50 rev. peak (major) / 781.30
major monthly channel and 776.90 lowest day session closing
price (very major area).
Comments:
The
whiplashing action on Tuesday closed the market down at its
lowest close in over three months leaving the chart in
bearish condition. A trade above 838 and 845 channels
can bring some bullishness back to the chart but only a
trade above 854.70 - 855.50 can bring any solid bullishness
back. A trade today below 826.50 - 825.40 is
bearish and a trade below 823.20 - 822 area can bring prices
down to challenge the 817 - 814 area and possibly near the 801.70
gap. Remain defensive inside the 838 - 823.20 trading
range.
Day
trades: For the March contract -
Aggressive traders can
sell rallies near 837 - 838 area for obj. near
828.50 - 826.50 area. (Use a buy stop and rev. long at
846).
Sell stop at
820.50 for obj. near 818 - 816 area.
Sell stop at
811 for obj. near 807 - 805 area and possibly near 801.70
gap.
Buy stop at 846
for obj. near 848 - 849 area and possibly near 852.
Bulletin - Originally sent 02/12/03 (2:09 pm est)
The sell-stop at 820.50 was hit putting
traders into short positions. The market is showing support in
this area. It is recommended for traders to use a protective buy
stop at 826.50. (Conservative traders can exit the short
position near 822 and scratch the trade).
Bulletin - Originally sent 02/12/03 (2:33 pm est)
The market is showing signs of neutrality
and is now subject to swing either way.
It is recommended for all short positions
taken at the 820.50 to exit and scratch the trade. The market is
trading at 822 at this time.
Results: 02/12/03
A TECHNICAL GUIDE FOR
DAY TRADING THE S & P
S &
P - For Thursday
02-13-03 : NOTE: After
each support and resistance listed will designate a value -
(very major) holds the highest importance, then (major), (very
significant), and (significant) is of the least value. Very
aggressive trades - are trades that are
against the trend or a high dollar risk when wide stops are
used. "The
Golden Rule" - Do
not use a buy stop inside a sell area or a sell stop
inside a buy area. The word NEAR can
be 1/2 to 1 point from a price listed in any trade to enter or
complete a trade.
Special
instructions for using stops - All
stops listed are for the day session only. Where stops
ARE NOT mentioned, they should be placed below the
second support area listed or above the second
resistance area listed, or 22 points from the (trade
entry point), whichever is the lesser amount. NOTE: The
first support area becomes the resistance after
the market trades through the second support area
listed. The first resistance area becomes the support
after the market trades through the second
resistance area listed.
Resistance:
For the March contract -
819 and 819.50 intra-day channels
also 820.40 day channel and 820.70 intra-day double peak (major
area) / 824.70 and 827 peaks (major area)
/ 830.30 and 831 peaks also 831.50 day top
and 833.40 day channels (very
major area) / 837 day channel (major)
/ 840 minor day channel and 842 day
channel also 842.60 day top (very
major area) / 845.20 day top (major)
/ 849.50 GBX top (major) / 853,
853.50 and 854.20 minor channels also 854.70 weekly closing
price (very major area).
Support: For
the March contract -
816.30 and 816
day bottoms also 815 and 814 monthly closing prices and 814
minor down channel (very
major area) / 805 rev.
peak and 804.90 weekly closing price and 801.70 day gap (very
major area) / 791.50 rev. peak (major)
/ 781.30 major monthly channel and 776.90
lowest day session closing price (very
major area) / 767.50 major
monthly bottom (very major
area).
Comments:
The sell-off on
Wednesday from the resistance keeps the market in bearish
territory facing the major gap at 816 to 801.70 that was left
from Oct. 11, 2002. A trade below the 814 down channel can
bring prices down near the 805 - 801.70 gap and possibly
challenge the 781.30 major monthly channel. A trade today
above 833.40 is slightly bullish but only a trade above 842 can
bring any solid bullishness back to the chart. Remain
defensive inside the 820.40 - 814 trading range.
Day trades:
For the March contract -
Aggressive traders can sell
rallies near 819 - 820.50 area for obj. near 816.50 - 814 area.
(Use a protective buy stop at 824.80. Do not rev. long).
Very aggressive
traders can buy dips near 816.50 - 814 area for obj.
near 819 - 820.50 area. (Use a sell stop and rev. short at
811).
Sell stop at 811
for obj. near 807 - 805 area and possibly near the 801.70 gap.
Sell stop at 798
for obj. near 793 - 791.50 area.
Sell stop at 788
for obj. near 784 - 781.30 area.
Very
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