This report was sent to subscribers on 11/16/09 5:55 p.m. Chicago time to be used for trading on 11/17/09. Everything is done by Howard Tyllas, no program or black box.
December S&P
After the close on 11/17/09: My resistance was 1112.25, 3.25 from the actual high, and my support was 1099.50, just .50 (2 ticks) from the actual low.
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1133.50 Resistance |
1125.00 |
-------------1112.25 Pivot |
1099.50 |
1091.00 |
|
Trend |
5 day chart ......... Up |
Daily chart ......... Up |
Weekly chart ........ Sideways |
Monthly chart ...... Down 926.10 is the 200 DMA |
ATR 16.80 Extremely Overbought 92% |
December S&P Chart
I still say "First uptrend line is support, long term uptrend line is major support. Double top high is pivotal now".
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 Monday; my resistance was .75 from the actual high, my pivot acted as support and was 4.00 from the actual low.
Who needs fundamentals when you have numbers like these?
December S&P for 11/17/09:
I do not care why or what drives the market to my numbers, I just care how good my numbers are and how well I can trade them.
S&P: My numbers produced almost the exact high, and coupled with my commentary to sell using a 1113.25 buy stop, I know you made money if you took that trade idea, I did. Looks like bulls could try to push the upside considering Monday's action. I would guess the range today will be between my first support and first resistance. Since extremely overbought I would rather take a sell against resistance for a day trade than the buy against support, but I am not ruling that out.
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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.
