This report was sent to subscribers on 3/16/10 11:00 p.m. Chicago time to be used for trading on 3/17/10. Everything is done by Howard Tyllas, no program or black box.
Results for 3/17/10 were:
Grains: My soybean resistance was $.02 from the actual high and my support was $.00 1/4 from the low, and my corn resistance was $.00 3/4 from the actual high, and my support was $.02 from the actual low.
Crude Oil: My resistance was 0.07 from the actual high; my support was 0.08 from the actual low.
S&P: My resistance was 1.50 from the actual high; my support was 1.75 from the actual low.
Gold: My resistance was 4.10 from the actual high; my support was 2.40 from the actual low.
Euro: My resistance was 0.16 from the actual high; my support was 0.40 from the actual low.
Bonds: My resistance was 2 from the actual high; my support was 2 from the actual low.
Nat. Gas: My resistance was .055 from the actual high (.004 in open outcry); my support was .057 from the actual low.
Cattle: My resistance was .27 from the actual high; my support was .35 from the actual low.
Do yourself a favor and get your numbers after the market is closed to be used for the next session trading. Ask yourself how much would it have been worth to read my comments and get my numbers 14 hours before today's open outcry?
June S&P
After the close on 3/17/10: My resistance was 1167.00, just 1.50 from the actual high, and my pivot aacted as support and was 1155.75, just 1.75 from the actual low.
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1174.00 Monthly Chart Resistance |
1167.00 Resistance |
------------1155.75 Pivot |
1144.50 |
1133.50 |
|
Trend |
5 day chart ...... Up |
Daily chart ......... Up |
Weekly chart ........ Up |
Monthly chart ...... Sideways 1036.00 the 200 DMA |
ATR 12.10 Extremely Overbought 97% |
Uptrend line then bracket lines support, and weekly chart resistance at 1174 comes into play 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.
June S&P for 3/17/10:
In my daily numbers on Tuesday; my resistance was 2.25 from the actual high, my pivot acted as support and was 1.25 from the actual low.
Who needs fundamentals when you have numbers like these?
S&P: Spot on numbers. I would just trade the numbers with no bias, and I have the same thoughts today. Unlike corn that is trading at the lowest average trading range (ATR) since 2007, I cannot remember seeing the S&P trading below the current ATR levels for quite a long time. The days of 25.00 or more will come out of the blue (sky), but now on a given day I only expect 1/2 that. No bias, I just want to trade the numbers.
Results for 3/16/10 were:
Grains: My soybean resistance was $.03 3/4 from the actual high and my support was $.02 1/2 from the low, and my corn resistance was $.02 from the actual high, and my support was $.04 from the actual low.
Crude Oil: My resistance was 0.62 from the actual high; my support was 0.46 from the actual low.
S&P: My resistance was 2.25 from the actual high; my support was 1.25 from the actual low.
Gold: My resistance was 1.00 from the actual high; my support was 4.10 from the actual low.
Euro: My resistance was 0.09 from the actual high; my support was 0.23 from the actual low.
Bonds: My resistance was 10 from the actual high; my support was 4.5 from the actual low.
Nat. Gas: My resistance was .046 from the actual high; my support was .038 from the actual low.
Cattle: My resistance was .07 from the actual high; my support was .15 from the actual low.
June S&P for 3/16/10:
Results for 3/15/10 were:
Grains: My soybean resistance was $.04 3/4 from the actual high and my support was $.02 3/4 from the low, and my corn resistance was $.00 3/4 from the actual high, and my support was $.03 from the actual low.
Crude Oil: My resistance was 0.10 from the actal high; my support was 0.31 from the actual low.
S&P: My resistance was .75 from the actual high; my support was 3.00 from the actual low.
Gold: My resistance was 4.70 from the actual high; my support was 3.00 from the actual low.
Euro: My resistance was 0.07 from the actual high; my support was 0.25 from the actual low.
Bonds: My resistance was 5.5 from the actual high; my support was 21 from the actual low.
Nat. Gas: My resistance was .022 from the actual high; my support was .049 from the actual low.
Cattle: My resistance was .25 from the actual high; my support was .07 from the actual low.
S&P: Spot on numbers. Same bull chart and I have the same thoughts. Numbers are spot on and on Monday both bulls and bears had an opportunity to sell the pivot and buy near support, or buy near support and sell at resistance. Now you see why I said I would just trade the numbers with no bias, and I have the same thoughts today.
June S&P for 3/15/10
S&P: Helpful numbers. Poor close on Friday but managed a slight gain. Bulls can test the high but if it fails I think the market can go 1/2 way to the support. Any correction should be met with support at the uptrend line that comes in at the 1120 level. Bulls are trying to grind higher to the 1174 level. For me this is a perfect market to day trade on many a day, the charts show that short term trend followers are enjoying the easy road. They can ride an up or down trend with success as long as they have an exit strategy, I use trend lines and bracket lines for my stops on position trades.
June S&P for 3/12/10:
S&P: Spot on numbers. As long as the numbers are good, trading the numbers is all that is left to do. I can see a move of 11.00 on either side of the pivot today (maybe both sides). Fundamentals have little to do with price discovery and much to do with having a bias.
June S&P for 3/11/10:
S&P: Perfect resistance and spot on support. I would trade the pivot today, and have the same thoughts.
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Howard Tyllas
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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.
