FuturesCom Investment Publications Since 1989 Economic and Investment Trend Analysis Since 1979 Global Equity Markets

FuturesCom Investment Publications Since 1989
Economic and Investment Trend Analysis Since 1979

Global Equity Markets – Foreign Exchange - Precious Metals- Bonds
Energy and Agricultural Commodities
Palm Beach County, Florida Tel: 561-433-2995 Fax: 561-963-7520

Morning Comments
May 21st 2002

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Monday May 20th, 2002
7:30 PM e.s.t

The ‘Frenzied’ Forex Front

June Yen
recommended open BW position , long at 7949
Support should appear near 7954 to 7939. Below that buyers should appear near 7864 to 7836 then 7806 . BW Traders can buy at 7809 and risk a close under 7761 for three days in a row..

Resistance should appear near the 8029 to 8044 region and attempt to cap an advance. However a close over 8044 is friendly and augurs for a trade towards the 8119 to 8134 and eventually the 8300 to 8315 region .

Aggressive BW Traders should go long if a close over 8044 occurs

June Euro Currency (EC)
Support should appear at 9156 to 9140 and 9101 BW Traders can buy at 9157 and risk a close under 9098 for three days in a row.. Under that buyers should appear near 9060 to 9044 and 9002 .. Aggressive BW Traders can buy at 9102 and risk a close under 9039 for three days in a row.

Resistance is at 9236 and the 9316 to 9347 region.

BW Traders should go long if a close over 9238 occurs..

June Swiss Franc

Resistance should appear near 6417 to 6430 .
Support should appear near 6337 and 6305 then 6270 to 6257..BW Traders can buy at 6272 for a bounce and risk a close under 6224 for three days in a row.

BW Traders should go long if a close over 6353 occurs

June British Pound
Support should appear near 14530 and 1.4376. BW Traders can buy at 1.4436 for a turn higher and hold for higher prices..

Resistance is at 1.4590 and 1.4710, a close over is friendly and augurs for a test of the 1.4840 to 1.4960 regions. .. Beyond that a test of 15290 to 15350 is likely.

BW Traders should go long id a close over 14714 occurs.

June Canadian Dollar
Support should appear at 6430 to 6417 then 6384 and 6350 to 6337.. BW Traders can buy at 6432 and hold for higher prices.
Resistance is at 6509 .. Beyond that sellers should appear near 6577 to 6591

June Aussie Dollar
Support is at 5504 to 5492 and 5430 to 5418 BW traders can buy at 5463 and risk a close under 5412 for three days in a row .

Resistance is at 5553 to 5577 .

The Sensational Stock and Bond Markets

Dow Jones Industrial Average
On the Upside Resistance should appear near 10,257 and 10,320 to 10,360 and 10.470 a close over is friendly and augurs for a test of 10,580 to 10,680 .

On the Downside Support should appear near 10,183.5 and the 10,136 to 10,104 region....

Trade accordingly .

June SP500
recommended open BW position , short at 1093.50
Resistance is at 1096 to 1098.5 and 1101 , a close over 1101 is friendly and augurs for a test of 1115..5 .
Support should appear near 1089 and 1082 .
*Stay Tuned for BW Updates and additional trades during the trading sessions..

Nasdaq Composite
Resistance is at 1731 to 1734 .

Support should appear near 1696 to 1689 . Failure there is negative and augurs for a test of 1655 to 1642

June Mini Nasdaq 100

Nearby Resistance is at 1304 to 1310 and 1334 to 1346 ...
Nearby support is at 1274 to 1268 and the 1238 to 1232 region..

Sept 10 Year T-Note
Resistance should appear near 104-12 which should cap a rally for a bit..Beyond that sellers should appear near 105-04
Support is at 103-23 and 103-17 which should contain a decline for a bit… .

Precious Metals

June Gold
recommended open BW position , long at 316.0
Support should appear at 315.7 to 314.8 and 310.2 to 309.2. BW Traders can buy at 307.1 and risk a close under 297.1 for three days in a row..

Resistance is at 319.4 to 321.3 . a close over 321.3 is friendly and augurs for a test of 331.9 to 332.8 and the 342.5 to 344.5 region.

Buy Dips and be long…

July Copper
Support should appear near the 7255 to 7240 and the 7170 to 7140 region.. Below that buyers should appear near 7090 to 7075.

Resistance should appear near 7325 to 7345 …. BW Traders can sell at 7320 and hold for lower prices.. Beyond that sellers should appear near 7415 to 7430...

July Silver
recommended open BW position , long at 478.0
Support should appear near 471.5 to 469 and 465 to 463 then 458.5 to 457.. BW . Traders can buy at 459.5 and hold for higher price....

Resistance is at 477.5 to 478.5 .. Beyond that an eventual test of the 484.5 to 485.5 region is likely .. .
Stay tuned for Updates

The Exciting Energies

July Crude Oil
recommended open BW position , long at 2725
Support should appear near 2673 to 2663 and 2620 to 2612 . BW Traders can buy at 2622 and risk a close under 2551 for three days in a row..

Resistance is at 2716 to 2724 and 2758 to 2775 then 2820 to 2829

July Unleaded Gas

Support should appear near 8045 to 8035 and 7955 to 7940 . Which should contain a decline for a bit... BW Traders can buy at 7965 and risk a close under 7830 for three days in a row.. Below that buyers should appear near 7780 to 7760…

Resistance is at 8115 to 8130 and near the 8300 to 8315 region.. Beyond that a test of 8560 to 8590 is likely..

July Heating Oil
recommended open BW position , long at 6845
Resistance is at 6990 to 7005 . A close over is friendly and augurs for an eventual test of 7140 to 7170 and the 7325 to 7345 region .
Support should appear near 6920 to 6905 and 6835 to 6805

BW Traders should go long if a close over 7005 occurs..

The Lively Livestock

June Live Cattle
recommended open BW position , long at 6037

Nearby Support should appear at 6022 . Under that support is at 5957 to 5942 .
Resistance is at 6102 to 6117

June Hogs
Support is at the 5067 to 5037 region. BW Traders can buy at 5072 for a bounce and initially plan on risking a close under 4972 for three days in a row.. .

Resistance is at 5127 to 5142 and 5200 to 5212. .

July Pork Bellies
recommended open BW position , long at 6192
Support should appear at 6117 to 6102 and 6037 to 6022

Resistance is at 6162 to 6192, beyond that a test of 6257 to 6270 is likely..

-Stay tuned for Livestock and Belly Updates and Flashes-

The Grande’ Grains
July Soybeans
Resistance is at the 491 1/2 to 492 3/4. Beyond that a test of 503 3/4 to 506 3/4 and the
512 3/4 to 513 1/2 region is likely..
Support should appear at 485 3/4 to 484 1/2 under that buyers should appear near 478 3/4 to 477 1/2 .. BW Traders can buy at 479 1/4 and hold for higher prices.. Below that support is at
471 3/4 to 469 1/2

BW Traders should go long if a close over 493 occurs

July Soybean Meal
Support should appear near 164.2 and 161.5 to 160.9,which should contain a decline for a bit..
BW Traders can buy at 161.7 and risk a close under 160.7 for three days in a row.

Resistance is at 168.9 to 169.6 region Beyond that Sellers should appear near 173.1 to 173.8

BW Traders should go long if a close over 165.7 occurs..

July Soybean Oil
Support is near 1738 to 1731 and 1696 to 1689 . BW .Traders can buy at 1692 and hold for higher prices.. Below that support is at 1655 to1642 .

Resistance should appear near 1774 to1780 and the 1808 to 1822 region.

July Corn
recommended open BW position , long at 208 3/4
Resistance should appear near 212 3/4 to 213 1/2, a close over 213 1/2 is friendly a for a test of the 221 3/4 to 222 3/4 region

Support is at 208 3/4 to 208 and the 204 1/2 to 203 1/2 region. ..

BW Traders should go long if a close over 213 3/4 occurs

July Wheat
Support should appear at to 272 1/2 to 271 3/4 and 267 1/4 to 266 1/2. ..BW Traders can buy at
267 1/2 and risk a close under 261 1/4 for three days in a row..

Resistance is at 277 1/2 region. A close over 277 1/2 is friendly and augurs for a another test of 280 1/2 and eventually the 282 to 282 3/4 region..

BW Traders should go long if a close over 277 3/4 occurs.

                                                 The Satisfying Softs
July Cocoa
Resistance is at the 1576 and 1609 to 1615 , a close over is friendly and augurs for a test of the 1642 to 1655 region...

Support should appear near 1569 and the 1535 to 1529 region. BW Traders can buy at 1537 and risk a close under 1479 for three days in row Below that 1459 to 1453 should contain a decline.

BW Traders should go long if a close over 1617 occurs..

July Coffee
recommended open BW position , long at 5145
Support is near 5125 and 5065 to 5035 under that BW Traders can buy at 5005 and risk a close under 4905 for three days in a row.

Resistance should appear near 5200 to 5215 and 5345 to 5355..

July Sugar
Support should appear near 563 to 558 and 534 and 523 Traders can buy at 536 and hold for higher prices.. Under that support is at 515 to 507 ...

Resistance should appear near 586. A close over 589 is friendly and augurs for a test of the 601 to 609 and the 630 to 634 region.

BW Traders should go long if a close over 591 occurs

July Cotton
Nearby Support should appear near 3505 to 3490 then 3445 to 3425.. BW Traders can buy at 3455 and risk a close under 3415 for three days in a row.
Resistance is at 3610 to 3625 then 3735 to 3745 and the 3860 to 3870 region...

BW Traders should go long if a close over 3635 occurs..
Trade Accordingly and stay tuned for updates..

A Ship in Harbor is Safe.. But that is not what ships are built for --

Happy Trading !
Bill
bill@futurescom.com
1--561-433-2995

Monday May 20th, 2002
9:55 PM South Florida Beach Time

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.