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Morning Comments (MC) May 19th, 1999
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Wed. May 19, 1999
06:34 AM 

On the Frenzied Forex Front

June Japanese-Yen

Nearby Support is at 8044 to 8028 and 7955

Resistance is at 8100 then 8154 and 8176 to 8183/8194 and 8219 to 8224,

Support is at 5430 to 5418 under that 5401 and 5388 provide

some support...

Resistance is at 54521 and  5488 then 5501. Beyond that sellers should appear near 5519 and 5535
Day traders can sell at 5501, risk 25 pts.  

Support is at 6621, below that a test of 6591 to 6577

is likely BW Traders can buy at 6577 and Hold for higher prices.

Resistance is at 6671 beyond that resistance is at 6721 Day traders can sell at 6721, risk 40 pts. Beyond that sellers should appear near 6741

Nearby Support should appear near 1.6150 and 1.6126 then 1.6090.

Under that support is at 1.6020 and 1.5936.

Resistance is at 1.6186. Beyond that sellers should appear near 1.6232 and 1.6286 then 1.6336.

Support should appear at 6785 and 6755 to 6741

Resistance is at 6835 and the 6885 to 6909 region. Beyond that

BW Traders can sell at 6920 a turn lower, risk a close over 6955 for three days in a row.

Support is at 273.3 and 272.7

Resistance is at 275.8 then 277 5.

Trade accordingly

Support is at 6955 and 6835 then 6755

Resistance is at 6995 and 7075.

Support is at 353.. BW Traders can buy at 353 and hold for higher prices.. Below that support is at 349 to 346

Resistance is at 357 to 360.2 A close over 358.90 is friendly and augurs for an eventual test of the 366.5 to 368 region. BW Traders should go long if a close over 358.90 occurs. .

On the DownSide: support is at 527 to 522 Below that

BW Traders should buy at 516 and risk a close under 512 for three day in a row.

Under that support at 507 to 502 should hold.

On the Upside. Resistance is at 536 and 540 to 543.

Support is at 1696 to 1689 then 1673.

Resistance is at 1716 to 1722 then 1743 to 1748.

.

Support is at 4940 and 4887.

Resistance is at 5026 a close over 5026 augurs for a test of 5095. Beyond that resistance is at 5140.

Support is at 4020 and 3915.

Resistance is at 4145 and 4180

Support is at 473 and 470 3/4.

Day traders can buy at 470 3/4 and hold..

Resistance is at 477 1/2 to 479 1/4 and 481

Support is at 485 1/4 then 482 and 479.

Resistance is at 489 and 492.

BW Traders should go long if a close over 493 occurs.

Support is at 134.6 and 132.6

Resistance is at 136.90. Beyond that resistance is at 137.8 and 140.

Resistance is at 1839. A close over 1839 is friendly and augurs

for a test of 1858 to 1869

Support is at 219 3/4 and 215 1/2 to 214 3/4.

Resistance is at 224 3/4 to 225 1/4. Beyond that sellers should appear near 229

Support is at 263 1/2 to 262 3/4 and 257.

Resistance is at 268 1/2 to 269 3/4

On the Upside resistance is at 5765 and 5790, beyond that 5840 offers resistance as does 5855 to 5880.

On the DownSide support is at 5740 and 5717 then 5655 to 5640.

Hearty Day traders can buy at 5740 and hold for higher prices..

Support is at 461 and 456 then 449 to 441 and 430.

Resistance should appear at 468 to 470 , a close over 470 is friendly.

On the DownSide, early support is at 116.40 to 115.80 and 113.55 to 113.00

Aggressive day traders can buy at 113.55 for a turn higher...Under that support is at 112.00 then 110.10 to 109.60

On the Upside, Resistance is at 117.60 and 118.55 then 119.20 to 120.30

beyond that sellers should appear near 123.20 to 123.80

Support is at 943 and 931 below that 912 to 907 should contain a decline today

Resistance is at 957, a close over 957 augurs for a test of 968 to 972. Beyond that resistance is at 1000 to 1007.

Support is at 6262 to 6257 and 6212.

Support is at 5727 to 5697. BW Traders can buy at 5717 and hold for higher prices.

Below that 5632 to 5627 should hold.

Resistance should appear at 5827 to 5832 Beyond that resistance is near 5857 to 5882 and 5922.

Support is at 5932 then 5887. Day traders can buy at 5887 and hold..risk 100 pts.

Resistance is at 5982 and 6022 then 6077, day traders can at sell at 6077, risk 100 pts. . Beyond that resistance is at 6107 to 6112 and 6167

Support is at near the 5362 region. Below that Buyers should appear near 5357.

BW Traders can buy at 5357, risk a close under 5257 for three days in a row.

Under that support is at 5252 and 5222

Resistance is at 5512 and 5552 Hearty Day Traders can sell at 5552 and hold for lower prices.. Beyond that sellers should appear near 5667 and the 5717 to 5732

region. Day traders can sell at 5662 and hold...above that sellers should appear near 5807 and 5872.

On The DownSide nearby support is at 117-17 then 117-02 to 116-28 Below that buyers should appear near 116-00 where it should hold.

On the Upside: Resistance is at 118-02 A close over 118-02 is friendly and augurs for a test of 118-28.

June SP 500
On the DownSide , Early support is at 1340.70 to 1340 and 1334 to 1330.60. .

Below that buyers should appear at 1324.70 to 1322. Below that support should

appear near 1316.70 Under that support is at 1312.80 and the 1310 to 1306 / 1304 region where it should hold.

Resistance is at 1346 and 1348.70.. Beyond that sellers should appear near 1353.70 and 1356.70 beyond that a test of 1361.50 is likely.

A close over 1346 is freindly and augurs for aeventual test of 1361.50

.

Resistance is at 10,929 and 10,960 to 10,985 beyond that sellers should appear near the 11,010 to 11,029 region. Beyond that resistance is at 11,072.