This report was sent to subscribers on 8/10/10 6:00 p.m. Chicago time to be used for trading on 8/11/10. Everything is done by Howard Tyllas, no program or black box.

September Crude Oil

After the close recap on 8/11/10: My pivot acted as resistance and was 80.23, .21 from the actual high, and my support was 77.10, .15 from the actual low

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I still say "Last week's high is resistance and then the bracket line resistance. Last week's low support, and then the bracket line near $77".

Uptrend line supports and the start of tonight's session is the last bar on right. Bears target bracket line support at $77.

In charting, when a resistance is hurdled it becomes support, and when the support is broken it becomes resistance.

I have been saying for over a year "What the equities market & the $ does from here, will help or hurt crude oil".      

 In my daily crude oil numbers on Tuesday; my pivot acted as resistance and was .26 from the actual high; my support was .37 from the actual low.         

September Crude Oil for 8/11/10:

Crude Oil: Accurate numbers. My idea to take the sell signal was a good one producing a $2 break. I still have a bearish bias but would not be aggressive seeing as we are nearing the support near $79 and the newly drawn uptrend line updated in this part 2. I would only risk .35 on a trade idea today.

Results for 8/10/10 were:

Soybeans: My resistance was .00 1/2 from the actual high; my support was .01 from the actual low.

Corn:    My resistance was .01 from the actual high; my support was .01 from the actual low. 

Crude Oil: My resistance was .26 from the actual high; my support was .37 from the actual low.

S&P:    My resistance was 3.75 from the actual high; my support was 8.25 from the actual low. 

Gold:     My resistance was $3.60 from the actual high; my support was $3.80 from the actual low. 

Euro:    My resistance was .14 from the actual high; my support was .19 from the actual low. 

Bonds: My resistance was 8 from the actual high; my support was 5 from the actual low. 

Nat. Gas: My resistance was .026 from the actual high; my support was .033 from the actual low.   

Cattle:  My resistance was .32 from the actual high; my support was .12 from the actual low. 

September Crude Oil for 8/10/10:

Crude Oil: Accurate numbers. My idea to trade the sell signals worked well. Since we are in the middle of the bracket line support and resistance, I should not have a bias with chart topping action in a short term bull market since May. I prefer to take the sell signals and risk .40 on the trade idea.

September Crude Oil for 8/9/10:

New Subscribers: Keep in mind that these are day trading numbers. They are equally to be used for swing trading and longer term trading time frames on the day I want to enter or exit my position. The charts are to be used for overall trade location looking for areas of price discovery of support and resistance levels. When the market does go to the charts longer term support or resistance levels such as bracket lines or longer term trend lines, I use my numbers on that day to enter or exit my position. The numbers do not tell you what to do, you are in control of that, but they will give you a framework to try and buy or sell at the best price for that day. For me it gives me a strategy and the best way I have found to discover the best price for entering or exiting my trade ideas.

If I have the exact numbers for the actual high and low of the day 12 hours in advance, the question has always been, how do I trade it? That is what I best describe in my numbers explanation. Any intuitiveness or nuances I trade, I would keep a journal to see if it is worthwhile overriding my plan. I rarely go against my explanation

Crude Oil: Spot on resistance but support was blown away. My idea to only take the sell signal was a good one. This time the market got close enough to the pivot resistance to sell and have a stop well above the pivot. Last week the market spent 4 days trying to get above the $83 level after barely managing to fill the gap at $82.70. The other 3 days the high fell short of the gap. I want to again only take the sell signals, and I really like to sell the resistance number if it gets up there. I would use a .40 buy stop to protect if the resistance does not hold.

September Crude Oil for 8/8/10:

Crude Oil: Spot on support and accurate resistance. Wanting to sell the pivot was a good idea but was not close enough for me to have taken the trade. I need the stop to be enough above the pivot and risk only .40 on the trade. How did you do? Bulls did you take a profit or aggressive sellers did you sell? Since we are near the bracket line resistance I want to only take the sell signals.

September Crude Oil for 8/5/10:

Crude Oil: Spot on support and helpful resistance at best. Trade idea to take the sell at the pivot gap resistance provided a good location to take profits if you were long, and wait for a pullback to buy again. If short you would have made money but if you are a swing trader you have a little more profits in the night session. I want to sell at the pivot and risk .40 on the trade idea, but not take the buy signal to get long.

Results for 8/4/10 were:

Soybeans: My resistance was .06 from the actual high; my support was .05 3/4 from the actual low.

Corn:    My resistance was .01 1/2 from the actual high; my support was .01 1/2 from the actual low. 

Crude Oil: My resistance was .27 from the actual high; my support was .52 from the actual low.

S&P:    My resistance was 3.50 from the actual high; my support was 2.25 from the actual low. 

Gold:     My resistance was $0.90 from the actual high; my support was $1.50 from the actual low. 

Euro:    My resistance was .05 from the actual high; my support was .17 from the actual low. 

Bonds: My resistance was 3 from the actual high; my support was 6 from the actual low. 

Nat. Gas: My resistance was .061 from the actual high; my support was .057 from the actual low.   

Cattle:  My resistance was .15 from the actual high; my support was .12 from the actual low. 

Want to know what I think for tomorrow and going forward?

The 9 markets now covered daily are Soybeans, Corn, Crude oil, S&P, Euro FX, 30 yr TBond, Gold, and  Natural Gas and Cattle

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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.