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FuturesCom
Bi-Weekly Investment Outlook # 370 
  Sunday May 22, 2011 

Equity Indices • Treasuries • Forex • Precious Metals • Energy • Grains • Livestock • Softs

 

“Accomplishments will prove to be a journey, not a destination.” -Dwight D. Eisenhower-

Sunday May 22, 2011
3:00 AM South Florida Beach Time             
                          The Sensational Stock and Bond Markets
Dow Jones Industrial Average
 Support should appear near 12,380.00 to 12,320.00
Resistance should appear near the 12680.00 to 12,740.00 region

jUNE e-Mini sp500
 Resistance should appear near 1334.00 to 1346.00 and the 1377.00 to 1383.00 region. Traders who sleep on a bed of nails can sell at 1376.75 and risk a close over 1384.25 for three days in a row.  
Support should appear at near 1322 and 1310.00 to 1304.00. Traders can buy at 1310.75 for a bounce and risk a close under 1302.25 for three days in a row.   Aggressive Traders can go long if a close over 1347.00 occurs

 

NAsdaq Composite
Resistance should appear near 2820 to 2829 and 2874.00 to 2883.00     
Support should appear near 2775.00 to 2758.00 and 2724 to 2716  

jUNE E-Mini NasdaQ 100
 Resistance should appear near 2354.00 to 2370.00 and 2411.00 to 2419.00.  
Support should appear near 2322.00 to 2315.00. Traders can buy at 2323 for a bounce and risk a close under 2312 for three days in a row.

JUNE  E-Mini RUSSELL 2000
 Resistance should appear near 830.00 to 831.40 and 839.10 to 840.60. Beyond that sellers should appear near 848.40 to 849.90 and the 856.0 to 858.90 region and cap a rally.
Support should appear near the 822.30 to 819.40 and 804.40 to 802.90. Below that a test of 793.90 to 795.40 is likely. Failure there augurs for a test of 777.70 to 776.30.  Traders can buy at 777.90 and hold for higher prices.   Stay tuned for flashes and Trade accordingly

JUNE 30 YR BOND
Resistance should appear near 125-07 and 125-21. Beyond that, sellers should appear near 126-07
Support should appear near 124-07 and 123-21. Below that buyers should appear near 123-07 and 122-21. Which should contain a decline. 

June 10 yr Note
 Resistance should appear near and 123-07. Beyond that a test of 123-21 and 124-07 is likely.  
Above that sellers should appear near 124-21 and cap a rally
Support should appear near 122-07 and 121-21... Below that buyers should appear near 120-21
and contain a decline.  

                             The Frenzied Forex Front
 June dOLLAR iNDEX
 Resistance should appear near the 7587 to 7601 region, a close over is friendly and augurs for a test of  the 7675 to 7689 region      
Support should appear near the 7513 to 7486 and the 7428 to 7414 region.   
 
June JAPANESE Yen
 Resistance should appear near 13220 to 12380 and the12680 to 12740 region.
Traders can sell at 12677 and risk a close over 12747 for three days in a row.  
Support should appear near 12030 to 11920.  Traders can buy at 12037 for a bounce and risk a close under 11917 for three days in a row.                   

June EURO currency
 Support should appear near 14150. A close under is negative and augurs for a test of 13830 to 13770.
Resistance should appear near 14210 then 14370 and the 14530 to 14590 region
Traders should go short if a close under 14147 occurs.

June SWISS FRANC
 Resistance should appear near 11640 to 11690. Traders can sell at 11633 for as turn lower and risk a close over 11697 for three days in a row.
Support should appear near 11360 to 11300, a close under is negative and augurs for a test of 11010 to 10960. 

JUNE BRITISH POUND
Support should appear near 16210 to 16150.
Resistance should appear near 16420 to 16550. Traders can sell at 16407 for a turn lower and risk a close over 16557 for three days in a row.
JUNE CanadIAN Dollar
 Resistance should appear near 10320 to 10360 and 10470
Traders can sell at 10317 and hold for lower prices.               
Support should appear near 10237... Below that a test of 10136 to 10104 is likely.

JUNE AUSSIE DOLLAR
 Resistance should appear near 10680 then 10815 and 10960 to 11010
Traders can sell at 10812 and hold for lower prices.
Support should appear near 10580, a close under is negative and augurs for a test of 10360 to 10320. Traders should go short if a close under 10577 occurs            
                                  The Precious Metals
 JUNE gold
 Resistance should appear near the 1529 to 1535 region.  
Support is near 1496 to 1484.0, below that buyers should appear near 1471.5 and the 1459 to 1453 region. Traders can buy at 1459 for a bounce and hold for higher prices.       
JulY COPPER
 Resistance should appear near 41630 to 41830 and the 42380 to 42490 region
Traders can sell at 42370 and hold for lower prices.
Support should appear near 40460 to 40560, below that a test of 39090 to 39020 and the 38650 to 38580 region is likely

July Silver 
 Resistance should appear near 3553 to 3563 and the 3734 to 3743 region. Beyond that sellers should appear near 3858 to 3867. 
Support is at 3443 to 3425, below that a test of 3386 to 3377 is likely. A close under is negative and augurs for a test of 3213 to 3194... Below that buyers should appear near 3157 to 3148                                           

                                   The Exciting Energies  

JUly Crude Oil
Resistance should appear near 10104 to 10136 and the 10320 to 10360 region. Traders can sell at 10317 and hold for lower prices.   Beyond that sellers should appear near 10580 to 10680.
Support should appear 9937 to 9921 and the 9837 to 9821 region. Below that buyers should appear near 9641 to 9625 and the 9445 to 9429 region, Below that buyers should appear near 9347 to 9316
Traders can buy at 9351 for a bounce and risk a close under 9037 for three days in a row.

JUly HeaTING Oil
 Support should appear near 28830 to 28740 and the 28280 to 28200 region
Resistance should appear near 30360 to 30450 region. Beyond that sellers should appear near 30920 to 31020.          

JUly UNLEADED Gas
 Support should appear at 28830 to 28720 and the 28290 to 28200 region.
Below that buyers should appear near 27240 to 27160 and the 26720 to 26630 region. Traders can buy at 26750 and holds for higher prices.   
Resistance should appear near 29280 to 29370 and the 30360 to 30450 region. Beyond that sellers should appear near 31480 to 31570

July NATURAL Gas
Support should appear at 4183 to 4163 and the 4120 to 4110 region. Below that buyers should appear near 4056 to 4046 and contain a decline.    
Resistance should appear near 4304 to 4315 and 4425 to 4446. Beyond that sellers should appear near 4503 to 4514 and cap a rally.                                                                 
                                 THE GRANDE’ GRAINS
 JULY SOYBEANS
Resistance should appear 1377 to 1383, beyond that sellers should appear near 1415 to 1421
Support should appear near  1346 to 1334 and the 1310 to 1304 region.

JULY SOYMEAL
Resistance should appear near 366.2 to 368.3 and 373.4 to 374.3
Traders can sell at 373.10 and risk a close over 380.9 for three days in a row.          
Support should appear near 356.3 to 355.3 and the 344.3 to 342.5 region. A close under is negative and augurs fore a test of 332.8 to 331.9  

JULY BEAN OIL
Support should appear near 5792 to 5805 and the 5855 to5880 region. Beyond that sellers should appear near 5945 to 5957 and cap a rally           
Resistance should appear near 5729 to 5716, a close under is negative and augurs for a test of
5653 to 5640 and eventually the 5577 to 5553 region.  

JULY CORN
Resistance should appear near 776 ¾ to 777 ¾ and the 783 ¾ to 786 ½ region. Beyond that sellers should appear near 802 ¾ to 804 ½ and cap a rally.    
Support should appear 751 ¼ to 748 ¾ a close under is negative and augurs for as test of
734 ¼ to 732 ¾ and the 717 to 714 ¼ region. . Trade accordingly

JULY WHEAT
Resistance should appear near 819 ½ to 822 ½ and the 830 to 831 ½ region. Traders can sell at
829 and hold for lower prices.
Support should appear near 804 ½ to 802 ¾.  A close under is negative and augurs for a test of 777 3/4 to 776 ¼, below that buyers should appear near 734 ¼ to 732 ¾ and the 717 to 714 ¼ region.
Traders should go short if a close under 802 ¼ occurs.

                                     
                                               THE LIVELY LIVESTOCK


AUGUST CATTLE
Support should appear near 10680 to 10580 and the 10360 to 10320 region   
Resistance should appear near 10960 to 111010 and the 11300 to 11360 region.
Traders can sell at 10957 and hold for lower prices.  

JULY HOGS
Resistance should appear near 9312 to 9347 Traders can sell at 9307 and hold for lower prices.
Beyond that sellers should appear near 9427 to 9447 and the 9522 to 9542 region
Support should appear near 9157 to 9137, a close under is negative and augurs for a test of 9062 to 9042 and the 8872 to 8857 region.  Traders should go short if a close under 9132 occurs.

                                  The Satisfying Softs
 JULY COFFEE
Support should appear near 25680 to 25520 and the 24690 to 24610 region. Below that a test of
23700 to 23540 is likely
Resistance should appear near 26120 to 26200 and the 26630 to 26720 region. Beyond that sellers should appear near 27160 to 27240 and the 27580 to 27750 region. Traders can sell at 27150 and hold for lower prices.        Traders should go short if a close under 255.10 occurs.

JULY COCOA
Resistance should appear near 2972 to 2990 and the 3036 to 3045 region. Traders can sell at 3035 and hold for lower prices... Beyond that sellers should appear near 3092 to 3102          
Support should appear near 2883 to 2874, a close under is negative and augurs for a test of 2829 to 2820 and eventually the 2672 to 2663 region.    

 JULY SUGAR
Resistance is at 2267 to 2275 and the 2315 to 2322 region. Beyond that sellers should appear near   
2354 to 2370 and the 2411 to 2419 region, which should cap a rally.
Support should appear near 2226 to 2219 and the 2185 to 2170 region .Below that buyers should appear near 2089 to 2080... Traders can buy at 2091 and hold for higher prices. , risk a close under 2027 for three days in a row.   

JULY COTTON
Resistance should appear near 16090 to 16150 and the 16890 to 16960 region. .
Traders who have ice water running thru their veins can sell at 16870 and risk a close over 17900 for three days in a row.
Support should appear 15350 to 15290 and the 14960 to 14840 region. Below that a test of 13830 to 13770 is likely. .
 
           --A Ship in Harbor is Safe...But that is not what ships are built for --
Happy Trading!   
Bill wil@futurescom.com  

Sunday May 22, 2011 9:45 AM South Florida Beach Time