Economic and Investment Trend Analysis - Socio Economics - Forex - Bonds - Dow Jones - Nasdaq - SP500
Precious Metals - Energy - Livestock - Grains - Softs
FuturesCom Investment Publications
Morning Comments, Monday December 24th, 2002
Experienced Since 1979 - Serving Professional and Individual Traders World Wide since 1988
7690 Rockport Circle, Lake Worth, Florida 33467 Tel: 1-561-433-2995 http://www.futurescom.com
The ‘Frenzied’ Forex Front
The Christmas schedule is at the end of today's letter.
2:30 PM Eastern Standard Time
March Yen
Support should appear near 8314 to 8300 and 8223 to 8195
Resistance should appear near 8352 and 8391 to8406
March Euro Currency (EC)
Support should appear at 1.0212 then 10185 and 10137 to 10104
Resistance is at 1.0285 and the 1.0320 to 1.0360 region. .
March Swiss Franc
Resistance should appear near the 7074 to 7088 region and 7115
Support should appear near 7038 then 7003 to 6990 and 6954.
March British Pound
Support should appear near 1.5760 to 1.5690 and 1.5626..
Resistance should appear near the 1.5826 and 1.5912.. Beyond that a test of 1.60.90 to 1.6150 is likely. .
March Canadian Dollar
Support should appear near 6417 and 6383
Resistance is at 6430 and 6456
March Aussie Dollar
Support is at 5553 and 5529
Resistance is at 5577 and 5608.
BW Traders should go long if a close over 5657 occurs.
The Sensational Stock and Bond Markets
Dow Jones Industrial Average
Resistance should appear near 8560 to 8589 and 8668 to 8683
Support should appear near 8499 to 8484 and the 8406 to 8391 region
March SP500
Resistance is at 896.40 then 900.40 and the 904.40 to 906.00 region. Beyond that sellers should appear near 914.00 to 915.60.
Support should appear near 893.40 and 887.1 to 885.60..
Nasdaq Composite
Nearby Resistance is at the 1377 to 1383 and the 1415 to 1421 region
Support should appear near 1346 to 1334
March Mini Nasdaq 100
Resistance is at 1036 and 1058 to 1068.
Support is at 1005 to 1000 and 984.00 to 982.00
March Ten Year T-Notes
Resistance should appear near 113-23 and 114-07
Support is at 113-17 and 113-07
The Precious Metals
Feb Gold
Support should appear at 344.3 to 342.5 and 338.6 to 337.7 . Below that 327 to 326.1 should contain a decline. BW Traders can buy at 327.1 for a bounce and hold for higher prices..
Resistance is at 349.3 to 350.3 and the 355.3 to 356.3 region.
March Copper
Support should appear near 7170 to 7140 and 7090 to 7070
Resistance should appear near 7240 to 7255 then 7325 to 7345 and 7415 to 7430.
March Silver
Support should appear near 463.5 and 458.5 to 457 .
Resistance is at 469.5 to 471.5 and 477.5 to 478.5
The Exciting Energies
Feb Crude Oil
Support should appear near 3157 to 3148 and 3102 to 3092.
Resistance is at 3261 to 3270 and 3319 to 3328
Feb Unleaded Gas
Resistance should appear near the 9140 to 9155 region Beyond that a test of 9315 to 9345 is likely.
Support is at 8965 to 8935 and 8870 to 8855 should hold.
Feb Heating Oil
Resistance is at 8935 to 8965 and 9045 to 9060
Support should appear near 8685 to 8665 and 8590 to 8560.
Feb Natural Gas
Resistance is at 5.211 and 5.259 to 5.282
Support is at 5.139 to 5.127 and 5.067 to 5.036 Below buyers should appear near 4.926 to 4.915 and contain a decline
The Satisfying Softs
March Cocoa
Support is at 2042 to 2034 and the 1996 to 1982 region..
Resistance should appear near 2080 to 2088 , a close over is friendly and augurs for a test of 2126 to 2134
March Coffee
Support is near 6115 to 6100 and 6035 to 6025
Resistance should appear near 6165 to 6190 then 6255 to 6270 and 6335 to 6350
March Sugar
Support should appear near 739 to 735 and 712 to 704.
Resistance should appear near the 763 to 767 region. A close over is friendly and augurs for a test of the 791 to 795. Beyond that sellers should appear near 814 to 823.
BWTraders should go long if a close over 771 occurs.
A Ship in Harbor is Safe.. But that is not what ships are built for –
Happy Trading ! and Have a Safe and Happy Holiday !!
Bill
wil@futurescom.com 1-561-433-2995
Monday, December 23rd, 2002
3:00 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.
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FuturesCom Investment Publications Copyright@1996-2002 all rights reserved
Market Schedules for the Christmas Holiday
Chicago Board of Trade
Dec. 23: Overnight trading of agricultural contracts will be closed.
Dec. 24: Open auction and a/c/e trading of agricultural products will be closed.
Financial contracts will close at 1200 CT (1800 GMT), and stock-index futures will close at 1215 CT .
Dec. 25: Closed
Chicago Mercantile Exchange
Dec. 24: Foreign exchange and interest rate futures and options will close at 1200 CT for pit trading
and 1215 CT for Globex electronic trading. All equities products will close at 1215 CT.
Commodity futures and options will be closed.
Dec. 25: Closed
Kansas City Board of Trade
Dec. 24: Wheat futures and options will not trade.
Dec. 25: Closed
Minneapolis Grain Exchange
Dec. 24: Wheat futures and options will not trade.
Dec. 25: Closed
New York Board of Trade
Dec. 24: Cotton and frozen concentrated orange juice products on the New York Cotton Exchange will not trade. New York Futures Exchange products will cease trading at 1315 ET, and all Finex NY products will close at 1300 ET .
Dec. 25: Closed
Dec. 26: Coffee, sugar and cocoa products on the Coffee, Sugar & Cocoa Exchange will not trade.
New York Mercantile Exchange
Dec. 24: Trading in aluminum and palladium will end at 1200 ET, copper and silver trade will end at 1205 ET, platinum and gold trading will end at 1210 ET , and energy markets will close at 1300 ET .
Dec. 25: Closed
Winnipeg Commodity Exchange
Dec. 24: Trading on the WCE will close early at 1200 CT and options will close at 1205 CT .
Dec. 25: Closed
Dec. 26: Closed
International Petroleum Exchange
Dec. 24: The IPE will close early at 1230 GMT.
Dec. 25: Closed
Dec. 26: Closed
Dec. 27: close early at 1730 GMT.
London International Financial Futures and Options Exchange
Dec. 24: close early at 1230 GMT.
Dec. 25: Closed
Dec. 26: Closed
London Metal Exchange
Dec. 25: Closed
Dec. 26: Closed
Dec. 27: Closed