This report was sent to subscribers on 9/1/10 4:50 p.m. Chicago time to be used for trading on 9/2/10. Everything is done by Howard Tyllas, no program or black box.

October (Comex) Gold 

After the close recap on 9/2/10: My resistance was 1255.30, just $1.70 from the actual high, and my pivot acted as support and was 1244.60, just $0.30 from the actual low.

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All charts and numbers for 9/3/10 have already been sent to subscribers at 5:00pm. 

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I continue to say "Uptrend line is supportive, and then the low of last week, highs of July & June resists". I use the October chart for price discovery, but trade the December contract.

Uptrend line provided perfect support on Wednesday & Thursday. It also was perfect resistance on Monday.

In my daily gold numbers on Wednesday; my resistance was $4.80 (only $1.50 in open outcry) from the actual high; my support was $9.30 from the actual low.  

October (Comex) Gold for 9/2/10:

Gold: Accurate resistance and not helpful support. New high for the run and a lower close bodes well for another down day to follow. Since near the all time high and the signal boding well for another down day today, I want to take the sell signals only today and risk $4 on a buy stop to protect

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

October (Comex) Gold for 9/1/10:

Gold: Spot on numbers. When you have numbers that are off less than $3.00 and using a $4.00 stop, it warrants continuing to trade the numbers without bias risking the same amount. Bulls only have the all time highs left in the way to higher prices. For me, I have the all time high to sell against and risk a few dollars to see if it holds, or using a known risk strategy if I want more time. Since the high was made a couple of months ago, I expect it will hold at least for the first assault. Really I have the same thoughts in this market testing its high, as the crude oil market testing its low, except it isn't all time lows.    

October (Comex) Gold for 8/31/10:

Gold: Spot on resistance of $0.10 and accurate resistance off $4. I have the same thoughts and numbers as the last 2 days.

October (Comex) Gold for 8/30/10:

Gold: Spot on support and accurate resistance numbers. Bulls are in control as long as we are above the uptrend line, below there the market is exposed and a possible sell off can occur. I prefer to take the sell signal only today and risk $4 on the trade idea using a buy stop to protect. 

October (Comex) Gold for 8/27/10:

Gold: Spot on numbers. I have the same thoughts of trading the numbers without bias and risk $3.50 on any trade idea.

October (Comex) Gold for 9/26/10:

Gold: Spot on numbers. I have the same thoughts as yesterday. Risk $3.50 using a stop to protect.

Results for 8/26/10 were:

Soybeans: My resistance was .01 1/2 from the actual high; my support was .02 1/4 from the actual low.

Corn:    My resistance was .02 1/4 from the actual high; my support was .01 1/2 from the actual low. 

Crude Oil: My resistance was .50 from the actual high; my support was .56 from the actual low.

S&P:    My resistance was 4.00 from the actual high; my support was 5.75 from the actual low. 

Gold:     My resistance was $3.40 from the actual high; my support was $2.30 from the actual low. 

Euro:    My resistance was .34 from the actual high; my support was .08 from the actual low. 

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

Nat. Gas: My resistance was .025 from the actual high; my support was .015 from the actual low.   

Cattle:  My resistance was .15 from the actual high; my support was .10 from the actual low. 

October (Comex) Gold for 8/25/10:

Gold: Spot on resistance and accurate support numbers. I was surprised to see the chart post a strong bar closing above the uptrend line. As long as the uptrend line is maintained, bulls target a retest of the all time

Results for 8/25/10 were:

Soybeans: My resistance was .03 1/4 from the actual high; my support was .06 from the actual low.

Corn:    My resistance was .02 from the actual high; my support was .04 1/2 from the actual low. 

Crude Oil: My resistance was .13 from the actual high; my support was .41 from the actual low.

S&P:    My resistance was .50 from the actual high; my support was .75 from the actual low. 

Gold:     My resistance was $3.80 from the actual high; my support was $0.60 from the actual low. 

Euro:    My resistance was .03 from the actual high; my support was .20 from the actual low. 

Bonds: My resistance was 24 from the actual high; my support was the EXACT actual low. 

Nat. Gas: My resistance was .002 from the actual high; my support was .047 from the actual low.   

Cattle:  My resistance was .32 from the actual high; my support was .25 from the actual low. 

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

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           May Your Next Trade Be The Best                          

                     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.