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(1) The following attempt trade comments are delayed. (2) DMD Bulletin for tomorrow and Live trading room are only available to subscribers. (3) DMD Bulletin may be updated in WarRooms. (4) Past performance is not necessarily an indication of future performance. (5) There is risk of loss in trading futures and options. (5) Pacific Standard Time. 

( $ = Proven right direction. ! = 1 point stopped out. SP = sp500 future, NQ = Nasdaq futures.) 

January 2002

WEEKLY FREE TRIAL: every Wednesday

USER CODE: sp500, PASSWORD: guru

Daily Market Direction Bulletin - The 4th Year of Accuracy
Before trying ours, please try others (all ad on Futures Magzine) first!

Attempt trade for 01/31/2002 Thursday <$>

Anyone who shorted at 1116-8 area, try to take profit at 1112.25 before the opening if there is a chance.
For short scalping: If 1119-20 is intact at Globex, try to scalp short again , target 1108.50 before close.

For buy side: Trailing stop is 1105 now. Try to reverse to buy side with 1105 stop, target 1130 before* Monday close. Friday's umployment report should have some, but not critical, effect on pull back.

[Result: Open 1116, low 1113, high 1130.50, close 1130.50]

Attempt trade for 01/30/2002 Wednesday <$>

Resistance 1106, scalp to target 1095. If 1095 area holds, one day bounce to 1110-1111 is possible on Thursday and followed by the double leg down to 1085 before 9:00AM Friday.
After FOMC announcement, 2 scenarios:
(1) bounce into Thusady and open gap down on Friday before reversing up.
(2) Plunge to 1085-1078 and consolidate and ready to reverse on Thursday and Friday.

Summery: Only 20 points trading range left before reversing up.

[Result: Morning high 1105.50, plunged to 1095 and not hold, plunged more to 1080.50, bounced to 1116 close]

Attempt trade for 01/29/2002 Tuesday <$>

<01/27 Sun> FOMC meeting on 29th and 30th. We are expecting a flush to 1114-12 area. Before FOMC announcement, the market should move within as wide as 1143-1123 and as narrow as 1138-1127.

<01/21 Mon > If last week's low 1124 holds for 2 more day (close only), we are expecting 20 points bounce before this weekend; otherwise another down week. Even if market bounces, as long as it pulls back below 1140 (close only) more down side is expected (in which case, next target 1115. This 1078-1085 target, that we mentioned long time ago, is still valid before first week of February. If FOMC does not cut the rate this time, this 1086-1078 would be destined. Keep in mind, as long as sp stays below 1140, we don't have buying mood in January.

Resistance 1139.75, target 1129.

Support 1128, scalp buy side, market will try to test 1138 again followed by 1142.50 (or 1148) if last week high 1139.75 is broken. If this 1142.50 is hit after 6:30AM before 7:30AM, try to scalp short one more time.

Morning update: if 1130.25 broken, use trailing stop to protect 2/2 short.

[Result: HIgh 1138.50, low 1097.50, close 1100.50]

Attempt trade for 01/28/2002 Monday <$>

Support 1127-28, scalp buy side, market will try to test 1138 again followed by 1143... 1148 if last week high 1139.75 is broken.

Resistance 1138-9, target 1128.

[Result: Open 1135.50, High 1138.50, low 1126.75, close 1136]

Attempt trade for 01/25/2001 Friday <$>

Support 1129, target 1143-44 is still valid.
Before 9:30, trading range 1129-1139. Aggressive trade (including Globex): Stop 1139.25, scalp to short before 7:00AM, target 1132-1130; then reverse to buy side with 1129 support, target 1143-44.
After 9:30, trading range 1135-1144. If there is no sign of breaking 1140, OR 1128-9 support broken, another story.

If it opens gap down, try to scalp buy.

Update 10:45 - target 1143-44 void. New trade, stop 1137.75, scalp short at 1136.75, target 1133. Expected close 1133 -1136.50

[Result: Globex plunged to 1128.75, opened 1128.75, low 1127.75, rallied to 1138.50, closed 1133.25]

Attempt trade for 01/24/2002 Thursday <$>

Trading range 1132~1122 before 7:30AM; buy low, sell/short high. If 1132.5 is broken, it will test 1135-38. IF 1132.75 is intact after mid-night, ready to scalp short with 1132.75 stop. target 1123-22 testing (and 1112-1113 if (only if) 1122 broken and closed below ). After 2:00AM stop will be 1130-1131. Gap down open at 1122-1124 is possible. If it does open gap down at open, stop 1122-23, buying bias, try to buy into 1130+ before 8:00AM and start to use trailing stop. If 1122-24 holds good on Thursday, more up side for Friday and Monday.

Opening Update: Stop 1130-31, scalp buy side into 1137.

[Result: open 1133.75, fell to 1132, then rallied to 1138.50, close 1133.75]

Attempt trade for 01/23/2002 Wednesday <!/$>

Before 9:00AM, trading range 1120-1130. Buy low, short high.
At 8:30~9:00, pay attention to 1130 area. If it has hard time staying above it, watch out, lower lower (1115-1112) will be valid before Thursday Morning.
Aggressive trade:
For buy side: Stop 1119, scalp buy side, targetr 1128.50-1129.50. Wildcard: 1138 testing for weekend if 1130.50 pivot is broken.

For short side: Stop 1130.50 (after midnight, move to 1129.50-1128 area), scalp short side, target 1120 (and target 1115-1112 if 1120 broken after 9:00am.

Opening update: Stop 1120, buying bias, target 1130.

Update 7:30AM: Day low 1117.50 stop, still buying bias, target 1127-28; expected close shoud be anyting above 1125.50.

[Result: Low 1117.75, high 1132.75, closed 1129; trailing stop for buy side 1125.00]

Attempt trade for 01/22/2002 Tueday <$>

If last week's low 1124 holds for 2 more day (close only), we are expecting 20 points bounce before this weekend; otherwise another down week. Even if market bounces, as long as it pulls back below 1140 (close only) more down side is expected (in which case, next target 1115.

Aggressive trade: use 1134 to scalp short side for 1128 target (or 1124 target if 27.50 is broken), use 1127.50 as stop to scalp buy side.

Opening update: Market could spike to 1139-1141 before 7:30, then reverse back down afternoon.

Mid-day 10:30AM Update after 1124 violation: Aggressive stop 1124.50, selling bias target 1115 before 7:30 tomorrow morning.

[Result: 1127 held and market spiked to 1136.50, then plunged to 1126, new shorted from 1131.50 with 1133.50 stop, day low 1117.75, closed 1121.50]

Attempt trade for 01/21/2001 Monday <$> (MLK Jr Day)

Resistance 1134. support 1128-27. Too narrow to trade. Since market closed at 8:30, aggressive trade: use 1134 to scalp short side for 1128 target (or 1124 target if 27.50 is broken), use 1127.50 as stop to scalp buy side. Can only risk 0.50-0.75 for either trade. 1134 violation indicates a potential week for bouncing.

[Result: Market closed at 8:30AM. Market whipsawed between 1133 and 1128.]

Attempt trade for 01/18/2001 Friday <$>

(In Stocks Room, we shorted at 1135.50 five minutes before close)
Thursday, 3:27PM, Globex last 1128 now, if you shorted before thursday close, take some profit now and move trailing stop to 1135 or cover short 1126-7.
Down weekend close is expected.

Thursday 10:33PM update: side line. No trade at Globex. Try to short again at 1134-35 if it bounces back up again before the open.

[Result: Opened gap down at 1128, bounced up to 1236, plunged to 1124, closed @1129]

Attempt trade for 01/17/2001 Thursday <$>

One day bounce is expected, but should plunge to test 1128 one more time if it opens gap up If it opens gap up...aggressive trade: Scalp short side for 8-10 pts and ready to reverse to buy bounce for target 1140 area testing. Conservative trade: Wait pull back to scalp buy side.

Opening 7:30AM update: Use 1130-31 as support, scalp buy side for 1140+ target for aggressive trader.

[Result: Low 1131.50, high 1140, closed 1134.50]

Attempt trade for 01/16/2002 Wednesday <$>

Wait for gov report. Watch out, even good reports may not help market's precess of correction. Trading range 1136 (support pivot) ~1150 (resistance pivot). 1136 target could be hit before the opening; aggressive trade can try scalp short before the opening.

Morning Update: 1144-5 stop, still selling bias, target 1133-2

Mid-day 11:50 Update: New short trade, 1142.75 stop, still selling bias, target 1126-1128 still valid before 7:45am.

[Result: Globex high 1145, open 1140-41, plunged to 1133.25 and bounced to 1140.50 before 12:00 and plunged to 1128-25, closed 1126.75]

Attempt trade for 01/15/2002 Tuesday <$>

Resistance 1148.75, support 1130-32. Short high, buy low.

If it spikes up after retail sales report, stop 1148.75 area, selling bias one more time before 8:30. If this spike up happens before retails report, it would be still for short. Potential bounce from 1132-30 to 1147-8 after 9:00.

[Result: High 1150, Low 1135.50, close 1148.50]

Attempt trade for 01/14/2001 Monday <$>

If 1145 holds for the first hour, market would try to test 1154 pivot. If it daily closed above 1154 (pivot/stop for short side), it would keep bouncing this week. Otherwise, next target 1138.

[Result: 1145 failed, market plunged to 1137.50, closed 1140.25]

Attempt trade for 01/11/2001 Friday <$>

We still have no buying mood.

Bearish Scenario: As we mentioned before Thursday, resistance/pivot is 1161.75 for short scalping (including Globex--aggressive traders, try before the opening). If PPI is bad, then market will plunge to 1148-1150. Going lower (1143, 1138) or not, let see how the PPI would turn out...

[Result: High 1163.50 before PPI, high after PPI 1160.75, low 1145.25, closed 1147.25]

Attempt trade for 01/10/2001 Thursday <$>

Bearish Scenario: Stop (including Globex) 1160.25-1161, selling bias, target 1148.50 before 8:45 AM PST. After 1148.50, move the resistance to 1155.25 (pivot) for target 1143.50. Bounce Scenario: If 1148 support found, it will test 1155 pivot.

Mid-day update: Expected close either at 1155.50 or 1158.50

[Result: High 1161.50, Low 1151, closed 1159]

Attempt trade for 01/09/2001 Wednesday <!>

If (pivot) 1168.50 is still intact on Wednesday, it would be a little behind schedule.

NO trade (no buy, no short) at Globex. If opening is flat and 1166 is intact at Globex or NQ stocks are weak... then there is still more room (1150) for down side. Let's see how it would open and make decision in WarRooms. Morning Update: Target 1178 testing, then 1182 tomrororw morning; even if it hits 1182, it will plunge 20 points. Afternoon Update: Stop 1172.75, testing 1168, violation = bad sign.

[Reslut: Open 1165.50, high 1175.50, plunged to 1168, then plunged to 1151.50, closed 1154]

Attempt trade for 01/08/2002 Tuesday <$>

Stop 1171.75, scalp short, target 1162-1158 testing. Watch out (and ready) for bounce after 9:00AM.

[Result: High 1170.50, low 1158, close 1163.25]

Attempt trade for 01/07/2001 Monday <$>

Resistance 1178.50, support 1166-64 for Monday. Buy low, short scalp high (with 1178.5 stop), before 9:00AM PST. Then reverse to buy side for 1178 testing. If 1178.50 broken, next target 1183, 1193 before another little pull back.

[Result: Day high 1178.50, low 1163.50, close 1165.75]

Attempt trade for 01/04/2001 Friday <$>

If unemployment report is better than expected, stop 1163.75, buying bias, target 1175. Aggressive stop (Globex) for buy side 1163.75-1165. If there is no follow thru at 1175, a pull back to 1165-63 will be valid before Monday noon. If unemployment report is bad, potential stop for short side scalping would be 1169 for target 1158, if 1157 broken, then 1145 testing.

[Result: Globex low 1165.50, rallied to 1178, profit taking sell off to 1163.50, closed 1175.25]

Attempt trade for 01/03/2002 Thursday <!>

Expected Trading range 1155-1141. Resistance 1155-56, target 1145-7 testing.

Attempt trade for 01/02/2002 Wednesday <$>

DMD at open: Stop 1151, selling bias, target 1136-38.

[Result: opened 49.50 and plunged to 1136.75 and reversed.]

 


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