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December S&P Daily Numbers & Trade Ideas for 11/16/09


This report was sent to subscribers on 11/14/09 8:40 a.m. Chicago time to be used for trading on 11/16/09. Everything is done by Howard Tyllas, no program or black box.

December S&P

After the close on 11/16/09: My resistance was 1113.00, just .75 (3 Ticks) from the actual high, and my pivot acted as support and was 1195.00, just 4.00 from the actual low.

Ask yourself, how well would I have traded this market if I had these numbers last night? Subscribe now! See for yourself why this second year of service has tripled my subscriber base.

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1113.00                                Resistance

1108.25 FG                          

  -------------1095.00        Pivot

1082.00

1066.00

     

Trend     

5 day chart .........   Up                              

Daily chart   ......... Up    

Weekly chart ........ Sideways       

Monthly chart ...... Down      923.20 is the 200 DMA                              

ATR 18.50                Overbought 84%

December S&P Chart

I still say "First uptrend line is pivotal, long term uptrend line is major support. Double top high is key resistance".

You need not waste time to have confidence in these lines. As you can see with up and downtrend lines, you connect the lows to make uptrend lines, connect the highs to get the downtrend lines.      

In my daily numbers on Friday; my resistance was 1.00 from the actual high, my support was .75 from the actual low.  

 Who needs fundamentals when you have numbers like these?

December S&P for 11/16/09:

S&P: My comments were spot on for Friday as well as my numbers. Same thoughts about the next 50.00 handle movement if the bulls can hurdle the gap above at 1108.25, and if not the bears will be gunning for 1050. In the short term I want to just trade my numbers, with a bearish bias selling near the gap with a buy stop just above at 1113.25.

Want to know what I think for tomorrow?   

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           May Your Next Trade Be The Best                          

                     Howard Tyllas            

   Tel.1-312-573-2699, 1-312-961-4390

Disclaimer:     No guarantee of any kind is implied or possible where projections of future conditions are attempted. Futures trading involve risk. In no event should the content of this be construed as an express or implied promise, guarantee or implication by or from Howard Tyllas, that you will profit or that losses can or will be limited in any manner whatsoever. No such promises, guarantees or implications are given. Past results are no indication of future performance.


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About the author


Currently a member of The Chicago Board of Trade (CBOT) and registered with the Commodity Futures Trading Commission (CFTC) as a floor broker and as a Commodity Trading Advisor (CTA). I am the President of Futures Flight, an Introducing Broker (IB) for MF Global,   and a member of the National Futures Association (NFA). I started my career in 1973 on The Chicago Mercantile Exchange trading floor working for a major firm. Three years later I purchased my first membership and began what would become a thirteen-year commitment to trading soybeans for my own account on the trading floor. I began trading options on futures since their inception in Chicago about twenty years ago; doing so, I traded in various pits on the trade floor. 

I day traded from 2000-2002 for Schoenfeld Securities (a major proprietary trade firm), and then continued to trade at Sheppard Int. for Jump Trading, LLC. I concentrated on the emini S&P and NASDAQ, trading them “upstairs” on a screen. One of the major lessons that I have learned from all my years of experience is that knowledge is an important condition for the possibility of successful trading. Knowledge gives you a better chance to succeed by eliminating obvious mistakes: with it, you will never find yourself shamefully uttering, “If I only took the time to learn”.  
         
I want to save you from such regrets by teaching you where the danger is, what it looks like, and how to go around it, while still keeping an eye on your destination of success. In short, I will teach you how to combat error with knowledge.
       
My mission is to educate you, giving you my 34 years experience, wisdom, and knowledge from which you will then be able to use and benefit from at will. For you, I will be a personal trainer, coach, mentor, overseer, market strategist, consultant, and advisor. 
I know what will help you make money, and I know what will insure failure. Use my services and prevent, “If I only knew”.  
  

Howard Tyllas

Futures trading involves the substantial risk of loss and may not be suitable for all investors. Past performance does not mean future results.

If you have a question, or comment, email me howardtyllas@howardtyllas.com  

Visit my website www.farmerhedge.com

                         http://www.howardtyllas.com                           

                         http://www.futuresflight.com 

 

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