FuturesCom Investment Publications
Bi-Weekly Investment Outlook, Sunday Dec 10, 2000
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Courage in a Speculator is merely confidence to act on the decision of his mind
Sunday, December 10, 2000
12:00 PM
The Sensational Stock and Bond Markets
March SP500
Resistance is at 1361.50, beyond that a test of 1377 to 1383 is likely.. A close over 1383 augurs for a test of 1399 and the 1415 to 1421 region.. Beyond that a resistance is at 1429…while a close over 1421 should be friendly and augur for an eventual test of 1437.Which should cap a rally …. Beyond that sellers should appear near the 1456 to 1459 region. Above that sellers should appear near 1471.50 and the1484 to 1496 region.
Nearby Support should appear near 1353.8 then 1346 . Below that buyers should appear near 1340 1334 .Under that a slip towards 1322 and the 1310 to 1304 region…Traders who have ‘Ice Water Running Through Their Veins’ can buy two at 1322 and hold for higher prices. Under that buyers should appear near the 1289 region and 1274 to 1268..
Traders should go long if a close over 1361.50 occurs
Trade Accordingly and Stay Tuned for Updates
Dow Jones Industrial Avg.
Resistance should appear near 10,757 then 10,820. An extended trade over 10,820 is friendly and indicates a test of 10,960 to 11,010. Beyond that resistance is at 11,155..
and 11,300 to 11,360
Nearby Support is at 10,680 and the 10,630 to 10,580 region. Under that support is at 10,520 then 10,470. Below that a test of 10,360 and the 10,340 to 10,320 region is likely.
Cash NASDAQ
Nearby Resistance is at 2928 to 2937 , a close over 2937 is friendly and augurs for a test of 2972 to 2990 then 3036 to 3045 and 3092 to 3102. Beyond that sellers should appear near 3148 and the 3194 to 3213 region. Above that a test of 3261 to 3270 is likely to occur. Beyond that sellers should appear near 3319 to 3328 and the 3375 to 3386 region.
Support should appear near 2883 to 2874 and the 2829 to 2820 region. Below that support is at 2775 to 2758 and the 2724 to 2716 region. Under that 2672 to 2663 should hold for a bit.. Below that 2620 to 2612 should contain the decline ….
Trade Accordingly
March Bonds
Resistance should appear near 103-16 then 104-04. Beyond that sellers should appear near 104-17 then 104-26.
Support is at 102-26 and 102-08, under that buyers should appear near
the 101-27 region..
The Frenzied Forex Front
March Japanese Yen
Support should appear near 9100 then 9084 and 9060 to 9040, traders should buy at 9060 for a turn higher , risk a close under 9040 for three days in a row , below that support is at 8964 to 8934 and 8898, under that buyers should appear near the 8871 to 8856 region.
Resistance should appear near 9140 to 9156 . A close over 9156 is friendly and augurs for a test of 9235 and the 9315 to 9345 region.
Traders should go long if a close over 9156 occurs.
March Swiss Franc
Resistance should appear near 5912, a close over augurs for a test of 5945 to 5957.. Beyond that resistance should appear near the 6023 to 6035 region where sellers should appear and cap a rally for a bit. However a close over 6035 is friendly and augurs for a test of 6101 to 6112 and eventually the 6165 to 6190 region...
Traders can sell at 6165 and hold for lower prices..
Nearby Support should appear near 5880 to 5855 a slip under augurs for a test of the 5805 to 5792 region, which should contain a decline for a bit. Traders can buy at 5792 for a turn higher , risk a close under 5716 for three days in a row. Below that support is at 5657 to 5640 and should hold..
Stay tuned for Flashes...
March Euro
Nearby Support should appear near 8856. Below that support is at 8818 and the 8776 to 8761, traders can buy at 8776 and hold for higher prices.. Below that support is at
8683 to 8668..
Nearby Resistance is at 8934 to 8964, an extended trade or close over 8964 is friendly and augurs for a test of 9040 to 90760 and eventually the 9140 to 9156 region Beyond that sellers should appear near 9235.
Traders should go long if a close over 8964 occurs.
Trade Accordingly..
March British Pound
Support should appear near the 1.4436 and 1.4370 .. Below that support at 1.4210 to 1.5150 should contain a decline
Resistance is at 1.4530 to 1.4590, a close over 1.4590 is friendly and augurs for a test of 1.4720 and eventually the 1.4840 to 1.4900 region.
March Canadian Dollar
Support should appear near 6577 and 6552..Under that support is at 6509 to 6482.
Traders can buy at 6509 for a turn higher ,risk a close under 6482 for three days
in a row.
Resistance is at 6591and the 6659 to 6673 region. Which should Cap a rally for a bit..
Beyond that sellers should appear near 6707 ..
Trade Accordingly and Stay tuned for FuturesCom's Forex Flashes
Precious Metals
Feb Gold
Support should appear near the 272.4 to 271.6 region.. Below that support is at 269.4
Should hold..
Resistance is at 275.8 to 277.5 , a close over 277.5 is friendly and augurs for a test of 282.0 to 282.9
Traders should go long if a close over 277.5 occurs..
March Copper
Support is at 8870 to 8855 and the 8770 to 8760 region… Under that buyers should appear near 8685 to 8685 and 8500 to 8490..
Resistance should appear near 8935 to 8965 and 9040 to 9060 , a close over 9060 is friendly and augurs for a test of 9140 to 9155 , beyond that sellers should appear near
9235 and Cap a Rally..
March Silver
Support should appear near 471.5 and the 465 to 463.5 region.. Traders can buy at 465.5 and risk a close under 463 for three days in a row. Below that buyers should appear near 458.5 to 457..
Resistance is at 477.5 to 478.5 and the 484.5 to 485.5 region. Beyond that a test of 4901.5 to 492.5 is likely
Traders should go long if a close over 485.5 occurs.
Trade Accordingly and stay tuned for Flashes
The Exciting Energies
Feb Crude
Resistance is at 2874 to 2882 and the 2928 to 2937 region. Beyond that resistance is at 3036 to 3045, which should Cap a rally for a bit.. Above that resistance should appear near the 3092 to 3102. Traders can sell at 3092 and risk a close over 3102 for three days in a row.
Stay Tuned for Updates…
Jan Unleaded Gas
Support should appear near 7340 to 7325, below that support is at 7170 to 7140 and the 7090 to 7075 region. Under that a test of 7005 to 6990 and the 6835 to 6805 region is likely.. Traders can buy at 6835 and hold for higher prices..
Resistance should appear near 7485 to 7515 then 7585 to 7600, beyond that resistance is at 7760 to 7775. Above that sellers should appear near 7835 to 7865, which should Cap a Rally. Beyond that a test of 8025 to 8045 is likely..
Jan Heating Oil
Resistance is at 9525 to 9545, above that sellers should appear near 9705 to 9735 beyond that resistance is at 9920 to 9935 and 10020 to 10035..
Support is near 9345 to 9315, a slip under augurs for a test of 9235. Under that 9155 to 9140 offers support.. Below that buyers should appear near 9060 to 9040 and the 8870 to 8855 region … which should contain a decline for a bit.. Traders can buy at 8870 for a bounce , risk a close under 8855 for three days in a row..
Stay Tuned for Energy Updates
The Grand Grains
Nearby Support is at 506 3/4 to 503 3/4 then 497 1/4 , below that buyers should appear near 492 3/4 to 491 1/2.. Traders can buy at 491 1/2 and risk a close under 484 1/2 for three days in a row. Below that buyers should step in near 471 3/4 to 4691/2 . Under that 465 to 463 3/4 should provide support..
Nearby Resistance is at 512 1/2 to 514.. an extended trade over 514 is friendly and augurs for a test of 520 to 521 1/4 and 525 3/4 to 528 .. Beyond that a test of 534 1/2 to 535 3/4 is likely.. A close over 535 3/4 augurs for an eventual test of 549 1/2 to 550 1/2
and 555 1/2 to 557 3/4 ..
Traders should go long if a close over 514 3/4 occurs.
March Soy Meal
Nearby resistance should appear near 185.8 to 186.5, beyond that a test of 190.2 to 190.9 is likely.. A close over 190.90 augurs for a test of 198.2 to 199.60 and the
203.0 to 204.2 region.
Support is at 180.8, Traders can buy at 180.8 and hold for higher prices. Under that support is at 178 to 177.4 and the 173.8 to 173.1 region.. Below that Buyers should appear near 169.6 to 168.9 and the 165.5 to 164.2 region.
Traders should go long if a close over 190.9 occurs.
March Soybean Oil
Support is near the 1535 to 1529 and the 1496 to 1484 region, under that buyers should appear near 1459 to 1453..
Resistance should appear near the1569 to1576 region. Beyond that sellers should appear near 1609 to 1615 and the 1642 to 1655 region.
March Corn
Resistance should appear near 221 1/2 then 226 3/4 to 227 1/2, beyond that sellers should appear near 231 to 232
Support should appear near 218 1/2 to 217. Under that buyers should appear near the 213 1/2 to 212 3/4 region .. Below that 210 3/4 to 208 should hold.
March Wheat
Support should appear near the 272 1/2 to 271 3/4 region…below that 267 1/2 to
266 1/2 offers support and should contain a decline…below that 262 to 261 should hold.
Resistance is at 275 3/4 to 277 1/2 , a close over 277 3/4 is friendly and augurs for a
test of 282 to 282 3/4 and ,most likely the 287 1/2 to 288 1/4 region.. Beyond that sellers should appear near the 292 3/4 to 293 3/4 region.
Traders should go long if a close over 277 3/4 occurs.
Trade Accordingly and Stay Tuned for Updates in the Grain Markets
March Cotton
Support should appear near 6675 to 6655 . Under that buyers should appear near 6590 to 6575 and the 6510 to 6485 region..
Resistance is at 6740 to 6755 then 6810 to 6835, a close over 6835 is friendly and augurs for a test of 6905 to 6935. Beyond that sellers should appear near 6990 to 7005 and the 7075 to 7090 region. Above that a test of 7145 to 7170 is likely.
March Coffee
Support is near the 6755 to 6740 below that buyers should appear near 6672 to 6655 Below that buyers should appear near 6590 to 6575 which should hold.
Resistance should appear near 6990 to 7005 . A close over 7005 is friendly and augurs for a test of 7325 to 7345.
March Sugar
Resistance is at 1000 to 1005 Beyond that a test of 1032 to 1036 and the
1058 to 1068 region is likely to occur… Above that sellers should appear near
1096 to1101. Traders can sell at 1096 and risk a close over 1136 for three days in a row.
Support should appear near the 972 to 968. Under that 941 to 932 offers support.
Traders can buy at 972 and risk a close under 932 for two days in a row , under that support should appear near 912 to 907 and the 882 to 877 region.
Trade Accordingly
March Cocoa
Resistance is at 735 to 739. Beyond that sellers should appear near 763 to 767.
Support is at 712 to 704. Below that buyers should appear near 686 to 682 and the 661 to 656 region.
Feb Cattle
Support is near 7687 to 7672, a close under 7672 is negative and augurs for a test of
760 to 7582 and the 7512 to 7487 region.
Resistance is at 7762 to 7777 and the 7835 to 7865 region…Beyond that sellers should appear near 7935 to 7955 and the 8020 to 8045 region..
Traders should go short if a close under 7672 occurs
Support should appear near 5882 to 5852 , a close under 5852 is negative and augurs for a test of the 5807 to 5792 an extended trade under or close 5792 augurs for a test of the 5732 to 5717 region… Under that buyers should appear near the 5652 to 5642.
Resistance should appear near 5942 to 5957, Beyond that sellers should appear near 6022 to 6037 and Cap a rally for a bit..
Traders should go short if a close under 5852 occurs…
Support is at 6837 to 6812.b Under that support should appear near 6752 to 6742.
And the 6672 to 6657 region.. A slip under 6657 is negative and augurs for a test of
6512 to 6487 and the 6432 to 6417 region
Stay tuned for Flashes….
Nearby resistance is at 6992 to 7002 and 7142 to 7172. Beyond sellers should appear near the 7337 to 7342 region.. Traders can sell at 7337 and hold for lower prices.. Beyond that resistance should appear near 7487 to 7512…
Stay tuned for Livestock Updates and Flashes
A ship in Harbor is Safe.. But that's not what ships are built for.
Happy Trading
Sunday Dec 10, 2000
5:25 PM
THIS PUBLICATION CONTAINS THE VIEW AND OPINIONS OF THE AUTHOR, EXCEPT WHERE OPINIONS ARE ATTRIBUTED TO OTHER SOURCES. WRITTEN PERMISSION IS. REQUIRED PRIOR TO ANY DISTRIBUTION OR REPRODUCTION. FUTURES TRADING ARE RISKY AND CAN CAUSE SUBSTANTIAL FINANCIAL LOSS. THE USE OF OPTIONS AND OPTION TRADING INVOLVES A HIGH DEGREE OF RISK. THE USE OF STOPS MAY NOT LIMIT LOSSES TO INTENDED AMOUNTS. SPREAD POSITIONS MAY NOT BE LESS RISKY THAN OUTRIGHT FUTURES POSITIONS. PAST RESULTS ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. SOURCES ARE BELIEVED TO BE RELIABLE BUT NO ASSURANCE IS MADE FOR ACCURACY. ADDITIONAL RISK DISCLOSURE IS AVAILABLE.
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FuturesCom Investment Publications
Bi Weekly Investment Outlook(BW)
Archives: http://www.futurescom.com/bwparc.htm
Recommended open positions as of 12-8-2000
Short Feb Cattle 7482
Long 2 March Cotton 6815
Long Marc Silver 477
Long Feb Gold 273
Long March wheat 272 13/4
Long March corn 221 3/4
Long Jan Beans 508-
Short Feb Hogs 5940
Index Program recommended open positions :
NONE