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

Economic and Investment Trend Analysis - Socio Economics - Forex - Bonds - Dow Jones - Nasdaq - SP500
Precious Metals - Energy - Livestock - Grains - Softs

FuturesCom Investment Publications
Morning Comments, Wed May 7th, 2003
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

Tuesday May 6th, 2003
3:00 PM eastern standard time

The ‘Frenzied’ Forex Front

June Yen
Support should appear near 8499 to 8484 and 8406 to 8391.

Resistance should appear near the 8560 to 8589

June Euro Currency (EC)
Support should appear at 11410 then 11360 to 10330 and 11300
Resistance is at 11445 and 11500

June Swiss Franc
Resistance should appear near 7587 to 7601
Support should appear near 7513 to 7487 .

June British Pound
Support should appear near 16090 then 16002 and 1.5960.. BW Traders can buy at 1.5968 and risk a close under 1.5852 for three days in a row.

Resistance should appear near the 1.6150 region.. Beyond that test of 1.6420 to 1.6550 is likely..
BW Traders should go long if a close over 1.6158 occurs

June Canadian Dollar
Support should appear near 7143 and 7088 to 7074

Resistance is at 7170 and 7242 to 7255

June Aussie Dollar
Recommended Open Position Long at 6387
Support is at 6350 to 6335 and 6270 to 6257

Resistance should appear near the 6417 to 6430 region

The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance should appear near 8589 and 8668 to 8683.. Beyond that a test of 8762 to 8777 is likely. Above that sellers should appear near 8856 to 8871 and the 8934 to 8964 region.

Support should appear near 8499 to 8484 an extended trade or close under augurs for a test of 8406 to 8391 and the 8314 to 8300 region…Below support should appear near 8223 to 8194 and the
8134 to 8119.

June SP500
Recommended Open Position Short at 931.50
Resistance is at should appear near 931.60 to 934.70 and 942.90 to 944.50…Beyond that sellers should appear near 952.60 to 954.20 then 962.50 to 964.10 and the 970.60 to 973.70 region. Which should cap a rally. BW Traders Who Have Ice Water Running through their veins can sell at 961.30 and hold for lower prices…

Support should appear near 923.60 and 915.60 to 914.00. An extended trade or close under is negative and augurs for a test of 906.00 to 904.40.. Failure there augurs for a test of 896.50 to 893.40 eventually the 887.10 to 885.60 region… Which should contain a decline.. Aggressive BW Traders should go short if a close under 923.10 occurs

Stay tuned for BW SP500 Updates and Index program trades , while day trades can occur at anytime

Nasdaq Composite
Resistance 1529 to 1535 and the 1569 to 1576 region.. Beyond that 1609 to 1615 should cap a rally.

Support should appear near 1496 to 1484 , a close under augurs for a test of 1459 to1453 and eventually the
1421 to 1415 region.

June Mini Nasdaq 100
Resistance is at 1164 to 1169 and 1192 to 1203 and the 1232 to 1238 region , which should cap a rally
for some time..

Support is at 1136 to 1132. A slip under is negative and augurs for a test of 1101 to 1096 region. Below that buyers should appear near 1068 to 1058, which should contain a decline for a bit

June Ten Year T-Notes
Recommended Open Position Long at 115-25
Resistance should appear near 116-04 and 116-17

Support is at 115-17 and 115-07.. Below that buyers should appear near 114-23 .

The Precious Metals

June Gold
Support should appear at 338.6 to 337.6 and the 332.8 to 331.9 region, which should hold.. BW Traders can buy at 338.9 for a bounce , risk a close under 331.5 for three days in a row. Below that buyers should appear near the 327.0 to 326.1 region.

Resistance is at 344.3 , a close over is friendly and augurs for a test of 349.3 to 350.3 and eventually the 355.3 to 356.3 region . BW Traders should go long if a close over 344.7 occurs

July Copper
Recommended Open Position short 7245
Support should appear near 7170 to 7140 , a close under augurs for a test of 7090 to 7075 and the 7005 to 6990 region..
Resistance should appear near the 7240 to 7255 and the 7325 to 7340 region. BW Traders can sell at 7245 and risk a close over 7365 for three days in a row. Above that resistance should appear near the 7415 to 7425 region
BW Traders should go short if a close under 7135 occurs

July Silver
Support should appear near 478.5 to 477.5 then 471.5 to 469.5 and the 465 to 463.5 region..
BW Traders can buy at 465.5 and hold for higher prices.. Risk a close under 457 for three days in a row.

Resistance is at 484.5 to 485.5 and the 491.5 to 492.5 region... BW Traders should go long if
a close 486.5 occurs .

The Exciting Energies

June Crude Oil
Support should appear near 2568 to 2552 and the 2519 to 2511 region

Resistance is at 2612 to 2620 and 2663 to 2672

June Unleaded Gas
Support should appear near 7605 to 7585 and 7515 to 7485.. below that traders can buy at 7435 and risk a close under 7310 for three days in a row

Resistance should appear near 7760 to 7780 and the 7835 to 7865 region. .

June Heating Oil
Resistance should appear near 6805 to 635 and the 6905 to 6920 region
Support should appear near 6755 to 6740 and the 6675 to 6655 region

The Lively Livestock

June Live Cattle
Support should appear near 7327 and 7257 to 7242.
Resistance is at 7417 to 7432

June Lean Hogs
Recommended Open Position Long at 6432
Support is at 6432 to 6417 then 6352 to 6337 and the 6272 to 6257 region..

Resistance is at 6482 to 6507, a close over is friendly and augur for a test of 6577 to 6592
BW Traders should go long if a close over 6512 occurs..

July Pork Bellies
Support should appear near 9157 to 9142 and the 9067 to 9042 region .

Resistance is at 9317 to 9347, a close over augurs for a test of 9427 to 9445 and the 9527 to 9542 region.. BW Traders should go long if a close over 9352 occurs

Stay Tuned for Livestock Updates and Flashes

The Grande’ Grains

July Soybeans
Recommended Open BW Position Long 631 1/2
Resistance is at 633 3/4 to 635 region A close over is friendly and augurs for a test of 641 3/4 to 643.

Nearby Support should appear near 627 to 625 then 619 to 616 1/2 and the 610 1/2 to 611 1/4 region. .
BW Traders can buy at 619 3/4 and hold for higher prices , initially risk a close under 610 3/4 for three days in a row. BW Traders should go long if a close over 635 ¾ occurs

July Soymeal
Recommended Open Position Long at 195.4
Support should appear near 194.6 then 190.9 to 190.2 and the 186.8 to 185.8 region ..

Resistance is at 198.2 to 199.6. Beyond that resistance should appear near 203.4 to 204.2 and the 208.0 to 208.8 region. BW Traders should go long if a close over 199.7 occurs

July Soybean Oil
Resistance should appear near 2219 to 2226 and 2267 to 2275. Beyond that a test of the 2315 to 2322
region is likely… Above that sellers should appear near 2354 to 2370 .. Traders can sell at 2352 and risk a close over 2377 for three days in a row..

Support should appear near 2170 and the 2134 to 2126 region.. Under that 2088 to 2080 should hold.. ..
BW Traders can buy at 2136 for a good bounce and risk a close under 2077 for three days in a row..

July Corn
Resistance should appear near 241 1/4 to 242

Support is at 237 to 235 1/2 and 232 1/4 to 2311/2

July CBOT Wheat
Recommended Open Position Long at 293
Support should appear at 288 1/4 to 287 1/2 and 282 3/4 to 282. BW Traders can buy at 282 3/4 for a turn higher and risk a close under 274 ¾ for three days in a row.

Resistance is at 293 3/4 region. Above that sellers should appear near 303 3/4 to 304 1/2 and the 309 1/2 to 310 1/2 region. BW Traders can sell at 309 1/4 and risk a close over 317 for three days in a row.

The Satisfying Softs

July the ‘Monster’ Coffee
Recommended Open BW Position Long 3 at 6800 avg
Support is near 6920 to 6905 and 6835 to 6810 .

Resistance should appear near 6990 to 7005 and the 7075 to 7090 region.

July Cocoa
Support should appear near 1865 to 1858 and the 1822 to 1808 region.. .

Resistance should appear near 1902 to 1909 .

July Sugar
Recommended Open Position Long at 687
Support should appear near 704 then 686 to 682 and 671

Resistance should appear near 712 then 724 and 735 to 738
BW Traders should go long if a close over 724 occurs.

July Cotton
Recommended Open Position Long at 5435
Support should appear near 5210 to 5200 and the 5140 to 5125 region.
Resistance should appear near 5245 to 5255 and 5415 to 5430

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

Happy Trading!
Bill
wil@futurescom.com
1-561-433-2995
Wed May 6th, 2003
3:45 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.