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Forex ...Precious Metals ...Energies....Grains...Softs...Livestock...Bonds..SP500
If a man is both wise and lucky , he will not make the same mistake twice. But he will make any one of the ten thousand brothers or cousins of the original. The mistake family is so large that there is always one of them around...
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.
Sept J-Yen
Good Resistance is near 8934 where traders should sell for a position , risk a close over 8966 for two days in a row. Nearby resistance is at 8871 where short term traders can sell and risk a close over 8898 or 50 pts.A close under 8813 augurs for a slip to 8777 then 8712 where minor support rests, good support is near 8663 where traders can buy for a bounce risk a close under 8662. Beyond that a drop to 8589 is likely.
Trade Accordingly...
Sept Swiss Franc
Early resistance is near 6906 where traders can look to short , risk a close over 6955 Above that 7003 offers a selling region where traders can short the Swiss and risk a close over 7017 for three days in a row. Support remains near 6836 then 6809.Eventually a slip to 6741 is likely , then down to 6673 , Buy at 6662 for a bounce , risk a close under 6640 for two days in a row...
Sept British:
Support is near 166.20 then 165.50 where longs can be established for a bounce , risk a close under 164.20 for three days in a row. More support is near 162.66. Resistance is near 169.60, sell there fr a turn risk a close over 170.60. for two days in a row.
Sept D-Mark ...The DMark gave a weekend Sell Rule on Friday
Resistance next week should raise its head near 5683 then 5716 where short term traders can sell for a turn, risk a close over 5741..stay tuned Support is near 5640 then 5609 to 5577. Buy at 5609 risk a close under 5577 for three days in a row....,
Trade Accordingly.
Precious Metals
August Gold With all the pressure in the Metals Gold only dropped $ 20.00 a ounce in the last few weeks...Buy Dips ...:
Long term traders should have buy orders waiting to assume longs for the pull.at 305.50 risk a close under 303.5 for two days in a row...Resistance is near 325 then 328. a close over 328 augurs for a thrust to 337..Where Sellers can short the Yellow Metal for a turn and risk a close over ..345 for two days in a row...
Sept Copper
.Recommended Position Long at 113.55. and long at 109.65.
Resistance is near 105.50 then 106.20 , a close over augurs for a test of 108.20., beyond that 112 should trade. Support is near 104.20 then 103.20, below that traders should buy ast 102.30 for a good bounce risk a close 99.15
Trade Accordingly..
Oct Platinum
Support should appear near 393 where traders can begin to buy , use a stop under 381 for three days in a row. A close over 401 .5 augurs for a test of 410...Resistance is near 401 then 405. Above that 410 should trade , sell threr for a turn risk a close over 416.
Still Bullish.. Buy this dip....
Sept Silver:
Support should appear near 405 to 401 where long term long term traders can buy for a position, risk a close under 398 for three days in a row. Nearby support come in at 431.4 then 416 where short term players can buy for a bounce risk 6 cents. Resistance is near 441 then 444 beyond that a terst of 457 is likely , sell there for a turn , risk a close over 465 for two days in a row
A lot of Selling has occured in Silver.. Is it Bloody enough ? Maybe...Holders of longs should consider adding on Dips ..then sell calls against the longs for a protective measure ...Shorts should consider buying back into the break rather than being forced out whenever the short covering .. Most resting orders are probably now on the upside...Remember this ... markets tend trade to the where the orders.are.
Trade Accordingly...
The Exciting Energies
August Crude Oil.Recommended Position long at 1918
After a brief rally Crude prices faded back .. The question still remains are prices gionf glower to test the old 17.00 region or will they firm up a bit and climb towards the 25 regionn we saw last year.,. Only time and the market willk tell us.. However I suggest buying dips into this region for a rally into the fall . Look to own at Dec or Feb ....
Support in CLQ should appear near 1921 where day traders can buy for a bounce with BOTH hands for a bounce. Below that 1896 should hold..risk a close under 1870 for three days in a row. traders Resistance is near 1946 aboce that 1970 offers resistance.Short term traders should exit longs at1967 MIT , looking to rebuy on a dip...stay tuned...More Resistance is near 2050 then 2080 where sellers should sell short for a turn , risk a close over 2088 for two days in a row....
August Unleaded
Support is near 5885 where traders should buy for bounce and hold using a stop close under 5780 for three days in a row .Resistance is near 6085 then 6125 , above that sell near 6205 for a turn lower, risk a close over 6270 or 150 pts.
August Heating Oil.
Support near 5055 where agressive traders can buy for a turn higher and risk 80 pts .Near term resistance is at 5255 a close over early in the week augurs for a pop to 5320 then 5430 Where traders can sell for a turn , risk 150pts. More Resistance is near 5515 and 5645, sell 5645 for a turn and risk a close over 5730 for three days in a row.
Trade Accordingly..
The ‘Grande’ Grains
August Beans
Friday's Close at 750 in August Beans was bullish, however a close over 753 is needed to project a rally into the 765 to 774 region where sellers should appear , sell at 774 for a quick turn ,risk a close over 779 1/2 . or a trade over 790.
Support is near 744 3/4 buy for a bounce . More support should appear at 737 , Buy at 738 risk a close under 737 or a trade under 722.. Resistance is near 751 3/4 , beyond that 765 3/4 should trade. Good Resistance remains near 774 to 779
Pick your Poison...
November Beans
I'll sa this again ...,At 587 Nov Beans should hold value, hedgers should have some patients here, wait for a rally to sell ....
Support is near 588 3/4 then 577to 580 where traders should Buy for a tuurn higher , risk a close under 565 for three days in a row.... Additionally if November Beans open over 595 , but under 597 On Sunday Buy at market ...risk 10 cents...
Resistance is near 594 then 597 , as close over 588 augurs for a [pop to 608 then 612 with a target of 622 above that.
Trade Accordingly....
Dec Soybean Meal.
Support is near 192.2 , below that a slip to 188 is likely , traders can buy at 187.9 for a turn higher, risk a close under 185.9 Resistance is near 198 then 200.9 and 204 . Sell near 204 risk a close over 209 for three days in a row..
Dec Soybean Oil
Nearby support is at 2183 Buy there to restablish longs from last week .
Good Support should appear at 2126 where traders should buy for a turn and use a stop close under 2109 for three days in a row..Below that 2088 should hold and long term traders can buy for the Pull then wait for the early Frost rally........ Resistance is near 2297 above that 2311 offers selling as well as 2378 sell there for a turn, risk a close over 2405 for three days in a row.
A close or sustained rally over 2211 is friendly,
Stay Tuned....
Sept Corn
Buy Sept Corn at 235 1/4 if able , risk a close under 234 for three days in a row. However a trade over 239 1/2 is friendly and traders should buy if that occurs looking for rally to exit near 244. Resistance is near 239 then 244. Sellers should begin near 245 up to 256...Traders should sell at 251 , risk a close over 257....where more selling should appear..
Trade Accordingly.
December Wheat
Resistance is near 354 to 359 sell there for a turn risk a close over 362..Above that 373 should trade.A close over Support is near 342 then 337 . Traders are urged to have buy orders waiting for a bounce at 337 , risk a close under 330 for three days in a row. More support is near 331.A close under 330 augurs for a test of 323 then 318...
Trade Accordingly.
Dec Oats
A close over 148 augurs for a test of 157 Support is near 143 buy there, risk a close under 137 for three days in a row. Resistance is near 148 then 157 above that 163 should trade.
The Satisfying Softs
October Cotton
Support is near 7295 then 7245 where traders can buy for a position, use a stop close under 7140 for three days in a row. Resistance should appear near 7450 then 7575 , sell there for a turn risk a close over 7675 for two days in a row.
October Sugar
Support is near 1087 where traders can buy for a position, risk a close under 1056 for three days in a row.Resistance is near 1127 traders can sell 1130 for a turn , risk a close over 1158 for three days in a row.
Stay Tuned
September the' Monster' Coffee
Early support is near 159.30 , buy there for a bounce risk a trade under 156.90. Good Support is near 149.60 to 148.95 buy at 149.60 for the 'pull'. risk a close under 147 for three days in a row. Resistance is near 167.15 then 168..90 sell short at 173.45 , risk a close over 179.50. More resistance is near 181 then 187. Hearty traders can sell near 212.50 , risk a close over 213.5 for three days in a row...
A close over 165.50 is friendly. Stay Tuned & Have your' Steel Cup' Ready
November Orange Juice Recommended Position Long at 7860.
Risk a close under 7650 for three days in a row... Resistance is near 8050 then 8165 above that 8270 should trade. Support is near 7665 then 7550. .
Still Friendly...
Sept Cocoa
Support is near 1571 then 1544, buy at 1535 risk a close under 1521 for three days in a row. Below that a slip to 1462 is likely, have buy orders waiting at 1459 for a bounce risk a close under 1422.. Resistance is near 1621 then 1644. Go short for a turn at 1644, risk a close over 1655 for three days in a row.
The Lively Livestock
August Cattle
Nearby Support is 6510 where traders should buy with both hands for a bounce risk a trade under 6407 . A break to 6437 should encourage buyers to appear. Resisitance is near 6592 A close over 6592 augurs for a pop to 66.50.
Stay Tuned...
August Feeder Cattle
Support is at 8112 where short term traders should have buy orders waiting to go long ,risk a close under 8065. Good support is 8012 where medium term traders should have buyers waiting. risk a close under 8007...stay tuned. Resistance is near 8207 , beyond that a test of 8255 then 8312 is in the cards...
August Hogs
Support is near 8062 where traders can buy for a bounce. risk 75 pts .. Resistance is near 8162 , above that 8255 ,where we would sell for a turn , risk a close over 8317 for three days in a row..
Bellies are not for Widows and Orphans, only traders who have Ice Water in their Veins should trade Pork Bellies.
August Bellies Recommended position Short at 8185 and 7785 and 7947(Flashes,MC)
Support is near 8060 then 7937 ,a close under augurs for a slip to 7837. Below that 7642 should hold , if not a drive towards 7432 then 7180 is under way..... Resistance is near 8137 then 8197 above that sell near 8307 for a turn risk a close over 8612 for three days in a row.
A close under 7932 Augurs for a test of cover near 7500 ....stay tuned
U.S. 30 Year Bonds.
Sept Bonds
Recommended Short at 110-18 and 111-26 ,113-01 and 114-12 .
Resistance is near 114-12 above that a test of 114-17 is likely. A close over 114-17 indicates a test of 115-05 to 115-13 Support is 114-00 and 113-24 to113-17. A close under 114-00 indicates weakness a pullback to 113-14 . Failure there wpouild lead to a slip towards 112-21. Good buyers should appear near 112-12 and . 110-23, below that a test of 109.15 is likely. Stay Tuned....
Standard and poor's SP 500 Index
Sept SP500
On the Downside, we see support at 923.60 then 920.15. Any sustained trade under 920.15 augurs for a pullback to 915.60 then 914.Below that we would buy 911.45 for a bounce higher, stay tuned. A close under 914 augurs for a pullback to 904.40 where we would probe the long side use a 250 pt stop. Below that 899.50 is likely. If the market closes under 899.00 a slip towards the 896.40 to the 893.40 region can be expected. A drop under that augurs for a pull-back to 880.55 or 864.70 where traders hould not run, but Buy.....stay tuned..On the Upside, Resistance is near 926.95 where traders can short for a qick turn, risk 150 pts or a close over 930.82 Pick Your Poison.. but stay tuned... A trade/ close over 931.60 augurs for a pop to 934.70 then 943.10 .. Beyond that 958.90 should. trade....
Stay Tuned.. and Remember
"When in Doubt Stay Out"
Happy Trading
Bill