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, Tuesday May 20th, 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

Monday May 19th, 2003
2:00 PM eastern standard time

"Among the hazards of speculation the happening of the unexpected -I might even say the Unexpectable - ranks high. There are certain chances that the most prudent man is justified in taking - chances that he must take if he wishes to be more than a mercantile mollusk--" -Reminiscences of a Stock operator-

The ‘Frenzied’ Forex Front

June Yen
Recommended Open Position short at 8530
Support should appear near 8499 to 8484. and the 8406 to 8391 region..

Resistance should appear near 8560 to 8580 and 8668 to 8683

June Euro Currency (EC)
Support should appear at 11605 then 11570 and 11535. BW Traders can buy at 11537 for turn higher and risk a close under 11500 for three days in a row. Below that buyers should appear near the 11500 region.

Resistance is at 11640 to 11665 and 11690 , a close over is friendly and augurs for a test of 11747 and 11805.
Aggressive BW traders should go long if a close over 11697 occurs.

June Swiss Franc
Recommended Open Position Long at 7711
Resistance should appear near 7763 to 7777 and the 7836 to 7864 region.

Nearby Support should appear near 7689 to 7675 and 7637.. below that buyers should appear near 7601 to 7587. BW Traders can buy at 7603 and hold for higher prices.. Below that buyers should appear near 7552 and the 7513 to 7486 region..

June British Pound
Recommended Open Position Long 2 at 1.6240 avg
Support should appear near 1.6284 then 1.6228 and 1.6150 to 1.6090. BW Traders can buy at 1.6168 and risk a close under 1.6076 for three days in a row.

Resistance should appear near 1.6284 and 1.6352. A close over is friendly and augurs for an eventual test of the 1.6420 to 1.6550 region.

June Canadian Dollar
Support should appear near 7291 and 7255 to 7242. BW Traders can buy at 7257 and risk a close under 7236 for three days in a row. Below that 7170 to 7143 should contain a decline for a bit ..

Resistance is at 7328 to 7343, a close over is friendly and augurs for a test of 7414 to 7428
BW Traders should go long if a close over 7347 occurs.

June Aussie Dollar
Recommended Open Position Long at 6518
Support is at 6509 to 6483 and the 6430 to 6417 region. BW Traders can buy at 6437 and risk a close under 6332 for three days in a row ..

Resistance should appear near 6577 to 6591 and the 6659 to 6673 region

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

June SP500
Recommended Open position , Short 920.40
Resistance should appear near 931.60 to 934.70 and 942.90 to 944.50

Support should appear near 923.60 and 915.60 to 914.00..Below that support should appear near the 906.00 to 904.40 region.

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

Nasdaq Composite
Nearby Resistance should appear near 1529 to 1535 and 1569 to 1576

Support should appear near the 496 to 1484 and 1459 to 1453

June Mini Nasdaq 100
Resistance is at 1130 to 1136 and 1164 to 1169

Support is at 1101 to 1096 and 1068 to 1058, which should contain a decline for a bit

June Ten Year T-Notes
Resistance should appear near 118-07 and 118-23

Support is at 117-23 and 117-04

The Precious Metals

June Gold
Recommended Open Position Long at 364.4
Support should appear at 362.3 to 361.3 and 356.3 to 355.3

Resistance is at 366.3 to 368.4 and the 373.4 to 374.3 region.

July Copper
Support should appear near 7605 to 7585 , a close under augurs for a test of 7515 to 7485 and the 7430 to 7415 region.

Resistance should appear near the 7675 to 7690 and the 7765 to 7780 region.
BW Traders should go short if a close under 7580 occurs

July Silver
Recommended open position long at 487.5
Support should appear near 478.5 to 477.5 then 471.5 to 469.5 and the 465 to 463.5 region.. Below that buyers should appear near 458.5 to 457.0. 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..

The Exciting Energies

July Crude Oil
Support should appear near 2820 then 2775 to 2758 and 2724 to 2716.

Resistance is at 2874 to 2884 and 2928 to 2937

July Unleaded Gas
Support should appear near 8135 to 8120 and the 7865 to 7835 region ..

Resistance should appear near 8300 to 8315 and 8485 to 8500

July Heating Oil
Resistance is at 7325 to 7345 and 7585 to 7605

Support should appear near 7260 to 7240 region Below that support should appear near 7090 to 7075

The Lively Livestock

June Live Cattle
Support should appear near 7342 to 7327 and 7255 to 7240.

Resistance is at 7417 to 7432 and 7487 to 7512 ..
BW Traders should go short if a close under 7377 occurs.

June Lean Hogs
Support is at 6672 to 6657 then 6592 to 6577 and the 6512 to 6487 region. BW .Traders can buy at 6512 and risk a close under 6467 for three days in a row.

Resistance is at 6742 to 6757 and the 6807 to 6837 region ..Beyond that a test of 6907 to 6922 is likely.
Aggressive BW Traders should go long if a close over 6712 occurs..

July Pork Bellies
Recommended Open Position Long at 9162
Support should appear near 9157 to 9142 and the 9067 to 9042 region ..
Below that buyers should appear near 8967 to 8932 and the 8872 to 8857 region..

Resistance is at 9237 then 9317 to 9347 and the 9227 to 9447 region.
Aggressive Traders should go long if a close over 9447 occurs

Stay Tuned for Livestock Updates and Flashes

The Grande’ Grains
July Soybeans
Resistance is at 641 3/4 to 643 and the 648 1/4 to 650 3/4 region.

Support should appear near 635 to 633 3/4.. Below that buyers should appear near 627 to 625 3/4
Aggressive BW Traders should go long if a close over 651 3/4 occurs

July Soymeal
Nearby Support should appear near 190.9 to 190.2 and the 186.8 to 185.8 region ..
BW Traders can buy at 188.6 and risk a close under 185.1 for three days in row. .

Resistance is at 194.6 to 195.3, a close over is friendly and augurs for a test of 198.2 to 199.6 and the
203.4 to 204.2 region. BW Traders should go long if a close over 195.7 occurs

July Soybean Oil
Resistance should appear near 2315 to 2322 and 2354 to 2370

Support should appear near 2275 to 2267

July Corn
Resistance should appear near 251 1/4 to 251 3/4 and 255 1/4 to 256 3/4,

Support is at 246 1/4 and the 241 3/4 to 241 1/4region.
BW Traders should go long if a close over 257 3/4 occurs.

July CBOT Wheat
Support should appear at the 327 to 326 1/4 region. Below that buyers should appear
near 321 1/4 to 319 1/2

Resistance is at 331 3/4 to 332 3/4 and 337 3/4 to 338 3/4

The Satisfying Softs

July the ‘Monster’ Coffee
Recommended Open BW Position Long 6950
Support is near 6480 and 6430 to 6415. Below that 6350 to 6335 should hold.. Under that support should appear near 6190 to 6165 and the 61154 to 6105 region.

Resistance should appear near 6575 to 6590 and the 6655 to 6675 region. A close over is friendly and augurs for a test of 6740 to 6755 and the 6805 to 6835 region. Beyond that a test of 6990 to 7005 is likely.

Aggressive Traders should go long if a close over 6675 occurs

July Cocoa
Support is at 1655 to 1642 and 1615 to 1609

Resistance should appear near 1696 then 1731 to 1738 and 1774 to 1788

July Sugar
Recommended open position long at 687
Support should appear near 691 then 686 to 682 and the 661 to 656 region.

Resistance should appear near 712 and 735 to 738.. Beyond that sellers should appear near the 763 to 767 region.
BW Traders should go long if a close over 714 occurs.

July Cotton
Support should appear near 5415 and 5355 to 5345. Below that buyers should appear near 5210 to 5200 and the 5140 to 5125 region.

Resistance should appear near 5490 to 5505, a close over is friendly and augurs for a test of 5555 to 5580 and the 5640 to 5655 region.. A close over is friendly and augurs for a test of 5715 to 5725 and the 5855 to 5880 region.. Traders should long if a close over 5515 occurs

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
Monday May 19 , 2003
3:15 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.