This report was sent to subscribers on 6/27/09 2:30 p.m. Chicago time to be used for trading on 6/29/09. Everything is done by Howard Tyllas, no program or black box.
September S&P Chart
After the close: My pivot acted as support and was 908.25, .25 (1 tick) from the actual low, and my resistance was 924.75, .75 (3 ticks) from the actual high.
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Online Readers Please Note: Most services use at least 6 supports and 6 resistances for 1 session, what good does that do you, which number do you actually use? I use 1 or 2 support numbers and 1 or 2 resistance numbers. I did not cherry pick this market today, most of the markets I covered today had similar results. My subscribers have been praising me for the accuracy they consistently have shown, which is a confidence builder that leads them to rely on them as a valuable tool in their trading. This is also evident in the 90 to 100% renewal rate of existing customers. Some have been with me for 12 monthly renewals, most for more than 8 months.
Lastly, these are the same numbers I use to trade my CTA program, which earned 36% after my payout in the first 10 months.
For the 12 month period ending March 31, 2009, the "Futures Flight" program is up 33.45%.
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940.75 FG |
924.75 |
--------------908.25 Pivot |
891.75 |
871.00 Key Support & Stops below |
Use the same numbers as used on 6/26/09 |
Trend |
5 day chart ......... Sideways |
Daily chart ......... Sideways |
Weekly chart ........ Down |
Monthly chart ...... Down 889.50 is the 200 DMA |
ATR 18.75 Overbought 73% |
September S&P Chart
Major support is at the green bracket line at 871.00. "Bulls need to dig in and hold ground here". They did, but now entering resistance levels, strong support at the 200 day moving average.
I have been saying for 2 months "Head and shoulders formation with the red line being the neckline. We could see a significant rally in the weeks to follow. The market could sell off from here down to 800 and still be in the head and shoulder pattern. 2 closes below 780 would confirm the H&S pattern is no longer valid and the market would return to it's bear mode".
Comments for 6/29/09 Sept. S&P
In my daily numbers Friday my resistance was 5.75 from the actual high; my pivot acted as support and was .25 (1 tick) from the actual low.
S&P: Great numbers continue to be the reasons I day trade this market when I trade it. Strong support at the 200 day moving average at 889.50 keeps the chart in bull mode. I expect the market to trade from the pivot to resistance on Monday if I had to guess. Chart looks like it will be friendly until the July 4th weekend. It seems to me over the years that the equities market likes to buy the market the day after we come back from a holiday. I have always thought that is because people who have an extra day off have time to do homework and pick and choose the stocks they want to buy, and do so on the day after the holiday. Depending where the market is, I will look at that trade when we get near there.
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