bw071999

FuturesCom Investment Publications
Dedicated to Excellence in Analysis of Futures Markets
Bi-Weekly Investment Outlook (BW) July 18 1999
Bonds.. SP500.. Forex.. Precious Metals.. Energies..Grains.. Livestock.. Softs
Featuring Bi-Weekly Investment Outlooks, Special Reports, Morning Comments and Experienced Since 1979 & Serving Professional and Individual Futures Traders World Wide since 1988 5845 Autumn Ridge Rd Lake Worth Florida 33463 Voice 561-433-2995 Fax 561-433-9243 http://www.futurescom.com

"Among the hazards of speculation the happening of the unexpected -I might even say the
unexpectable - ranks high. There are certain chances that the most prudent man is justified in taking - chances that he must take if he wishes to be more than a mercantile mollusk--"
Reminiscences of a Stock operator.

Sunday July 18, 1999
07:34 AM

On the Frenzied Forex Front
Sept. Japanese-Yen
Nearby Support is at 8314 and 8300. Traders can buy at 8314, risk a close under close under 8262 for two days in a row. Under that support is at 8259 to 8238 and 8223 to 8194. Traders can buy at 8194 for a quick bounce only, risk 40 pts.
Nearby Resistance is at 8343 and 8352. Beyond that resistance is at 8391 to 8406. A close over 8406 is friendly and augurs for a test of 8443. Above that resistance should appear near 8484 to 8499. Traders can sell at 8491, risk a close over 8507 for three days in a row.

Traders should go long if a close over 8407 occurs.

Sept. D-Mark
Support should appear near the 5211 to 5200 region. Traders can buy at 5211 for a good turn higher and Hold for higher prices. Below that support is at 5169 and 5139 to 5127..Traders can buy at 5169 and risk a close under 5126 for three days in a row.

Resistance remains near the 5259 to 5282 region. A close over 5282 is friendly and augurs for an eventual test of the 5312 and the 5344 to 5356 region...A close over 5356 is friendly and indicates a test of the 5418 to 5430 region. Beyond that resistance is at 5492 to 5504.

Traders should go long if a close over 5282 occurs.

Sept. Swiss
Nearby Support is at 6382 and the 6350 to 6337 region.. Traders can buy at 6382 for a turn higher, risk a close under 6337 for three days in a row. Below that 6304 and the 6270 to 6257 region offer support.

Nearby Resistance is at 6417, a close over 6417 is friendly and augurs for a test of
6457. Beyond that resistance is at 6482 to 6509 where good sellers should appear.. However a close over 6509 is friendly and indicates an eventual test of 6543 to 6557 and the 6577 to 6591 region. Above that resistance is at 6610 and 6626.
Traders can sell at 6591 for a turn lower, risk a close over 6627 for two days in a row.
Above that sellers should cap a rally near the 6656 to 6673 region.

Traders should go long if a close over 6417 occurs

Sept. British Pound
Support should appear near 1.5602 and 1.5526. Traders can buy at 1.5526 for a bounce, risk a close under 1.5416. Below that 1.5350 to 1.5290 should contain a decline.
Resistance is at 1.5662 and 1.5690 to 1.5760. Traders can sell at 1.5690 for a turn lower and risk 100 pts. Beyond that is at resistance 1.6090 and 1.6150. Traders can sell at 1.6120, risk a close over 1.6150 for two days in a row.

Sept. Canadian Dollar
Support should appear at 6741. Below that support should appear near the 6720 and 6707. Traders can buy at 6720 for a turn higher, risk a close under 6707 for three days in a row.

Resistance is at 6755 and 6770 then 6782.. A close over 6755 augurs for a test of 6782 and eventually 6809. Beyond that resistance is at 6820 and 6836. A close over 6836 augurs for a test of 6906 to 6919.

Traders should go long if a close over 6755 occurs..

Stay tuned for Forex flashes.

Precious Metals

August Gold
Nearby Support is at 252.9 and 251.9 to 251.1 Traders can buy at 251.90 and hold for higher prices... . Below that support is at 247 to 246 and 242.

Resistance is at 255.2 and 256.8, a close over 256.80 is friendly and augurs or a test of 261.20 to 262.and eventually 265.

Traders should go long if a close over 255.20 occurs.

Sept. Copper
Nearby Support is at 7755 Under that support should appear near 7585 to 7555.below that buyers should appear near 7355 to 7320. Traders can buy at 7355, risk a close under 7315 for three days in a row. Below that 7245 and 7170 to 7140 should contain a decline for a bit

Nearby Resistance is at 7835 to 7865. Beyond that a test of 7920 and 7940 to 7955 is likely. Traders can sell at 7940 , risk a close over 7965 for three days in a row.
Beyond that resistance should appear near the 8025 to 8045 region. Above that
Sellers should appear near 8085 and 8120 to 8155 region.

Trade Accordingly and stay tuned.

Oct. Platinum
Support is at 347 Traders can buy at 348.0 and hold for higher prices.. Below that support at 344.3 to 342.5 and 341 then 337.

Resistance is at 349.3 to 350.3. A close over 350.3 is friendly and augurs for a test of 354.5 and the 355.3 to 356.3 region. Beyond that resistance should appear near the
361.3 to 362.3 region. Traders can sell at 361.8 for a turn lower, risk a close over 364.5 for two days in a row.

Traders should go long if a close over 351 occurs..

Sept. Silver
On the DownSide nearby support is at 509 and 506.5 Traders can buy at
506.5 and risk a close under 497 for three days in a row. Under that support at 490 should hold..

On the Upside. Nearby resistance is at 512.5 and 514.5. A close 514.5 is friendly and augurs for a test of 521.5 Beyond that resistance is at 528 5 and 535. Beyond that sellers should appear near 549.5

Traders can go long if a close over 514.5 occurs.

Trade Accordingly and Stay tuned...

The Exciting Energies
Sept. Crude
Nearby Support is at 2047, Traders can buy at 2048 for a bounce risk a close under 2034 for two days in a row. Below that support is at 2022 and the 1996 to 1982 region under that support is at 1953 to 1946 and 1909 to 1902 which should contain a decline for the time being. Traders can buy at 1909 and hold for higher prices... Below that support is at 1869 to 1858.

Trade accordingly

Resistance is at 2080 to 2088. However a close over 2088 is friendly and augurs for a test of 2126 to 2134. Traders can sell at 2126 for a turn lower, risk a close over 2134 for two days in a row. Beyond that resistance is at 2170 to 2185 and 2219 to 2226 should cap the rally for a bit..Traders can sell at 2219 , risk a close over 2267 for two days in a row.

Sept. Unleaded Gas
Nearby Support is at 6058, traders can buy at 6062 for a bounce, risk a close under 6023 for two days in a row. Below that support is at 5957 to 5945 and the 5880 to 5855 region. Hearty Traders can buy at 5880 and hold for higher prices..If 5855 fails a test of 5745 then 5729 to 5716 is likely... well below that 5356 to 5326 should hold
traders can buy at 5345 and hold for the pull...

Resistance should appear at 6165 to 6190. A close over 6190 is friendly and augurs for a test of the 6260 and 6337 to 6350 . Traders can sell at 6337 for a turn lower, risk a close over 6430 fro two days in a row.

Sept. Heating Oil
Nearby Support is at 5212. Aggressive traders can buy an early dip to 5212 risk a close under 5135 for two days in a row Below that support near the 5067 to 5056.. Below that support is at 4856 to 4845. Traders can buy at 4856 , risk a close under 4775 for two days in a row.

Resistance is at 5344 to 5356 then 5418 to 5430 Beyond that sellers should appear near the 5492 to 5504 region Traders can sell at 5492 , risk a close over 5504 for three days in a row.

Trade Accordingly.

The Grand Grains
November Beans
Nearby Resistance is at 423 1/2. A close over 423 1/2 augurs for a test of 432 and 437 beyond resistance is at 455.
Support is at 412 3/4 and 409 1/2 traders can buy at 409 1/2 for a turn higher , risk a close under 404 3/4 for two days in a row.

Dec. Soybean Meal
Resistance is at 128 a close over 128 is friendly and indicates a test of 131. Beyond that resistance is at 134.6 and 136.5.
Support is near the 123.80 to 123.20 region Below that 121.70 should stop the decline for a bit..

Dec. SoyBean Oil
Resistance is at 1582. A close over 1582 is friendly and augurs for a test of the 1609 to 1615 and the 1642 to 1655 region .Beyond that resistance is at 1672 and 1689 to 1696.

Support is at 1572 to 1569 . Under that support is at 1535 to 1529 and 1496 to 1484 Which should contain the decline for the time being. Traders can buy at 1`484 , risk a close under 1453 for two days in a row.

Dec. Corn
Resistance is at 200 3/4. A close over 200 3/4 is friendly and augurs for a test of 206
Beyond that resistance is at 208 1/2 and 212 3/4 to 213 1/2.
Support is at 196 1/2 and 192 1/2 to 191 below that 187 should hold for a bit.

Sept. Wheat
Resistance is at 244 1/4 . A close over is friendly and augurs for a test of 248 and 253 to 254 where resistance should appear. Beyond that sellers should appear near 260.

Traders should go long if a close over 247 occurs..

Support is at 240 3/4 and the 237 to 235 1/2 region and contain the decline for a while , traders can go long at 237 risk a close under 235 1/4 for three days in a row .
Below that support is at 230 and 227 1/2

Trade accordingly

The Satisfying Softs
Dec. Cotton
On the DownSide support is at 5013 and 4987. Below that buyers should appear near the 4926 to 4915 and 4855 to 4845.

On the Upside Nearby Resistance is at 5061 and 5160 to 5180. A close over 5160 is friendly and augurs for a test of 5245 .Beyond that resistance is at 5330.

Oct. Sugar
Nearby Support is at 539 to 534, aggressive traders can buy at 539, risk a close
under 534 for two days in a row. Below that support is at 520 and 516 then 507.

Resistance should appear at 556 to 563 Beyond that resistance is at 582 to 586 and 596.. A close over 596 is friendly and augurs for a test of 630 to 634.
Traders can go short at 634 for a turn lower risk a close over 656 for three days in a row.

Trade Accordingly

Sept. Coffee
On the Upside, Resistance is at 9355 and 9425 to 9445 , a close over 9445 is friendly and indicates an eventual test of 9705 to 9735 and 100.00. Above that resistance should appear near the 103.20 to 103.60 region.

On the DownSide, early support is at 9285 and 9155 to 9140. Under that buyers should appear near 9060 to 9040.Hearty Traders can buy at 9060 and hold for higher prices..

Traders can go long if a close over 9355 occurs.

Sept. Cocoa
Support is at 968. Traders can buy at 968, risk a close under 952 for two days in a row. Below that support is at 941 to 932 and the 914 to 907 region.

Resistance is near 974 to 986 and 1005. Beyond that sellers should appear near 1014 and 1032 to 1036 Beyond that resistance is at 1058 to 1068

The Lively Livestock
August Cattle
Resistance is at 6407 and 6462 to 6482. Traders can sell at 6482, risk a close over 6512 for three days in a row. Above that resistance is at 6577 to 6592.

Support is at 6332 to 6312 traders can buy at 6337 for a bounce and risk a close under 6312 for three days in a row. Below that buyers should appear near 6257 and 6212. Under that 6182 to 6165 should contain a decline..traders can buy at 6167 , risk 100 pts.

Aug. Hogs
Support is at 4612 and 4557, under that support is at 4512 . Traders can buy at 4517 for a turn higher and hold for higher prices.. Below that support is at 4447 and 4317.

Resistance is at 4717 then 4752 and 4812 beyond that sellers should appear near 4857..Traders can sell at 4857 and hold for lower prices. Risk a close over 4922 for three days in a row.

From the Frying Pan into the Fire--

Aug. Bellies
Support is at 3425 Below that support is at 3377 and 3212 to 3192.
Resistance is at 3507 and 3667 then 3772. A close over 3772 is friendly and augurs for a test of 3857 to 3867 and eventually the 4047 to 4057 region.
Stay Tuned for Flashes..

The Sensational Stock and Bond Markets

Sept. Bonds
On The DownSide nearby support is at 117-05. Traders can buy at 117-05 and hold for higher prices.. Under that support is at 116-28 and 116-08. Traders can buy at
116-09 and hold for higher prices, risk a close under 115-26 for three days in a row. Below that 114-28 offers support.

On the Upside Nearby Resistance is at 117-18 and 117-26.A close over 117-26 is friendly and augurs for a test of resistance at 118-09 and the 118-26 region.
Traders can sell at 118-26 for a turn lower and hold for lower prices.

Trade Accordingly.

Sept. SP 500
On the DownSide Nearby Support should be evident in the 1383 to 1377 region Day Traders can buy at 1383.10 for a turn higher put your own risk on it and stay tuned. Under that support is at 1370.40 to 1369.80 Where it should hold on a decline basis the close. Day Traders can buy at 1370.40 for a bounce, again put your own risk on it and stay tuned for an exit... Below that support is at 1366.50 and 1361.5 .

Nearby Resistance is at 1305.20 and 1399 to 1402.30 Day Traders can sell at 1399 for a turn lower and put your own risk and hold for lower prices ..A close over 1399 is freindly and augurs for a test of 1405.20 and 1410 Beyond that sellers should appear near 1415

Stay tuned for Flashes ...

Dow Jones Industrial Avg.
Support is near 10,985 then 10,960 and 10,907. Where it should hold on this
decline. Below that support is at 18,883 and 10,820
Resistance should appear near 11,010 and 11,102 Beyond that resistance is at 11,143 to 11,155 ..

A ship in Harbor is Safe.. But that's not what ships are built for.

Happy Trading
Bill

July 20 1999
8:31 PM

B W Recommended Open Pos.
NONE

MC Recommended Open Pos.
Long Aug. Short Nov. Beans at 8 1/2 (2)

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 IS 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.