This report was sent to subscribers on 7/12/10 5:50 p.m. Chicago time to be used for trading on 7/13/10. Everything is done by Howard Tyllas, no program or black box.
September S&P
After the close recap on 7/13/10: My resistance was 1097.75, 1.75 from the actual high, and my pivot acted as support and was 1075.00, 2.25 from the actual low
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1097.75 Resistance |
1086.75 Bracket Line |
----------------1075.00 Pivot |
1063.25 |
1054.00 |
1031.50 |
Trend Use the same numbers as used on 7/12/10 |
5 day chart ...... Up |
Daily chart ......... Down |
Weekly chart ........ Sideways |
Monthly chart ...... Sideways 1101.80 is the 200 DMA |
ATR 20.80 Extremely Overbought 96% |
I continue to say "Bracket line is pivotal at 1075 and then the high of June (1129.50). Bracket line support coupled with the downtrend line at 1030 is support".
I said "I drew a bracket line at this "double bottom" at 1006, if that goes I look for lower prices.
September S&P for 7/13/10:
In my daily numbers on Monday; my pivot acted as resistance and was 2.25 from the actual high, my support was 2.25 from the actual low.
Who needs fundamentals when you have numbers like these?
S&P: Spot on numbers. I have the same thoughts and numbers for today as yesterday.
Results for 7/12/10 were:
Soybeans: My resistance was .01 from the actual high; my support was 04 3/4 from the actual low.
Corn: My resistance was .00 3/4 from the actual high; my support was .02 1/2 from the actual low.
Crude Oil: My resistance was .18 from the actual high; my support was .12 from the actual low.
S&P: My resistance was 2.25 from the actual high; my support was 2.25 from the actual low.
Gold: My resistance was 1.60 from the actual high; my support was 5.80 from the actual low.
Euro: My resistance was .01 from the actual high; my support was .02 from the actual low.
Bonds: My resistance was 15 from the actual high; my support was 10 from the actual low.
Nat. Gas: My resistance was .024 from the actual high; my support was .013 from the actual low.
Cattle: My resistance was .02 from the actual high; my support was .05 from the actual low.
September S&P for 7/12/10:
S&P: Accurate numbers. 1075 is a big number and is pivotal on the chart. It is also in the middle of the bracket line "double bottom" support of 1006 and bracket line resistance of 1143 above. I want to trade the numbers without bias and risk 4.00 on a trade idea.
September S&P for 7/9/10:
S&P: Accurate support number but resistance was not helpful unless you used the 1/2 way rule that was spot on. Selling at resistance was not in play, today I would trade the numbers without bias today and not risk more than 4.00 using a stop to protect.
September S&P for 7/8/10:
S&P: Spot on support but resistance was blown away. Sell signal was stopped out for a small loss, and another example why I use stops. Now that we are getting closer to the bracket line resistance I want to take a sell at resistance and risk no more than 4.00 on a buy stop to protect.
September S&P for 7/7/10:
S&P: Spot on numbers! Last night buying support and risking little was a good trade idea, as well as not long after open outcry began, the opportunity to sell resistance with little risk also worked well. In open outcry the market did pull back to the pivot that provided nice profits for sellers, and even though it went under for less than 5 minutes, was a good place to buy and saw a correction 10.00 higher and just .25 from my first resistance (1026) before the closing bell.
The fact they jabbed below 1006 was bearish, the fact it held was friendly. Since there is a downtrend line near the bracket line resistance, I want to play the sell signals and do not want to take the buy signals today.
Want to know what I think for tomorrow and going forward?
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Howard Tyllas
Tel.1-312-573-2699, 1-312-823-9189
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.
