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Morning Comments Tuesday May 18th 2004
Serving Professional and Individual
Traders World Wide since 1988
7690 Rockport Circle , Lake Worth , Florida
33467 - USA and Canada Toll Free : 1-866-409-3890
- Intl : 1- 561-433-2995 http://www.futurescom.com
Monday May 17th 2004
3:45 PM. West Palm Beach Time
The Frenzied Forex Front
June Yen
Resistance should appear near 8762 to 8777 and 8856 to 8871
Support should appear near 8683 to 8668 and the 8589 to 8560 region.
June Euro Currency (EC)
Recommended open position Short 2 at
11928 avg
Support should appear at 11975
and 11920
Resistance is at 12030 and
12175..Beyond that sellers should appear near 12320 to 12380
Aggressive BW Traders should go short if a close under 11802 occurs
June Swiss
Franc
Recommended open position Short 2 at 7783 avg
Resistance should appear near 7836 to 7864 and 7939 to 7954
Support should appear near 7777 to
7762 and the 7689 to 7675
Aggressive BW Traders should go short if a close under 7669 occurs
June British Pound
Recommended open position Short 17512
Support should appear near the 1.7360 to 1.7310 region, which should
contain a decline ..
Resistance should appear
near the17740 to 17800 region .
June Canadian Dollar
Recommended open position short 7241
Support should appear
near 7088 to 7074..
Resistance is at 7170 and 7242 to
7255
BW Traders should go short if a close under 7137 occurs..
June Aussie Dollar
Support should appear near.6809 and
the 6755 to 6740 region.. Under that 6673 to 6656 should contain a decline.
Resistance should appear at 6906 to 6919 and 6990 to 7003
The
Sensational Stock and Bond Markets
Dow Jones Industrial Average
Resistance should appear
near 9921 to 9937
Support should appear near 9837 to 9821
June SP500
Recommended open position Long 3 at 1122.90 avg.
Resistance should appear near 1096 to 1101.
Support should appear near the1068.00 to 1058.00 region
Aggressive BW Traders should go long if a close over 1101.10 occurs.
Nasdaq Composite
Support should appear near 1865 to 1858.
Resistance should appear near 1902 to 1909
June Mini Nasdaq 100
Resistance is at 1415 to 1421
Support is at 1383 to 1377.
June
10 Year T-Note
Resistance should
appear near 109-22 then 110-07 and 110-22, which should Cap a rally
Support
is
at 109-07 and 108-22.
Precious Metals
June Gold
Recommended Open Position Short at 378.8
Resistance should appear at 385.8 to 386.7
Support is at 379.5 and 374.3 to 373.4
BW Traders should go short if a close under 372.9 occurs.
July Copper
Recommended Open position Short 11445
Support should appear near 11360 to
11320 and the 11010
to 10960 region
Resistance should appear near 11500
and 11640 to 11690
July Silver
Support should appear 558 to 555.5 and 543 to 541.5.
Resistance is at 579.5 to 580.5 and 585.5 to 588 .
The Exciting Energies
July Crude Oil
Recommended Open Position Short at 4148
Resistance should
appear near 4163 to 4183 and 4238 to 4249
Support is at 4120 to 4110 and 4056 to 4046
July Unleaded
Gas
Resistance should appear
near 13770 to 13830 and the 14150 to 14290 region.
Support should appear near 13460 to
13340 and 1310 to 13040
July Heating Oil
Resistance should appear near
10580 to 10680 and the 10960 to 11010 region
Support should appear near 10360 to 10320
and the 10135 to 10105 region.
The Lively Livestock
August Cattle
Support should appear at 8137 to 8117
Resistance is at 8302 to 8317 and 8392 to 8407
July Hogs
Recommended open position long at 7412
Support is at 7257 to 7242 and 7170 to 7142
Resistance is at 7327 to 7342 and 7412 to 7427
August Hogs
Support is at 7142. Under that buyers should step in near
7087 to 7072
Resistance is at 7242 to 7257, a close over is friendly and augurs for a
test of 7327 to 7342
July Pork Bellies
Resistance should appear near 11637 to 11692 and 11805
Support is
11502 and 11362 to 11322
--- Traders should stay
tuned for BW Updates and Flashes in the Livestock markets
---
The Grande’ Grains
July Corn
Support should appear near
293 3/4 to 292 3/4..
Resistance is
at 297 1/2 to 299
July Soybeans
Recommended open position long at 974 ½
Resistance is at 914 to 915 3/4 and 931
3/4 to 934 3/4
Support is at 896 3/4 to 893
3/4 .Below that buyers should appear near 877 3/4 to 876 3/4
November Beans
Support is at 691 3/4 to 690 3/4 and 683 3/4 to 680 3/4
Resistance is at 714 to 717
and the 732 3/4 to 734 1/4 region
July Soymeal
Support should appear near 288.3 to 287.4 and 282.9 to 282.
Resistance should appear near 292.8 to 293.7 and 303.6 to 304.5.
July Soybean Oil
Resistance should appear near 2972 to 2990 and 3036 to 3045
Support
should appear near 2937 to 2928 and the 2883 to 2874 region.
July CBOT Wheat
Support should appear near 362 1/4 to 361 1/4 and 356 1/4 to 355 1/4
Resistance should appear
near 368 1/4 and 373 1/2 to 374 1/4
The
Satisfying Softs
July the ‘Monster’ Coffee
Recommended Open position long 2 at 7155 avg
Support is near 6835 to 6810 and 6755 to 6740.
Resistance should appear near 6990 to 7005 and 7140 to 7170
BW Traders should go long if a close over 7265 occurs.
July Cocoa
Support is at 1310 to 1304 and 1274 to 1268 under that
1238 to 1232 should hold. ..
BW Traders can buy at 1242 and risk a close under 1159 for three days in a
row.
Resistance is at 1334 to 1346 and 1377 to 1383 .BW Traders can sell at
1374 and risk a close over 1432 for three days in row.
July
Sugar
Support should appear near 634 to 630 and 609 to 601.
Resistance should appear near 656 to 661 and 682 to 686.
BW Traders can sell at 655 and risk a close over 689 for three days in
row.
July Cotton
Recommended open position long at 6355
Support should appear
near 6415 and 6350 to 6335
Resistance should appear near 6485 to 6510 and 6575 to 6590
- A Ship in Harbor is Safe...But that is not what
ships are built for -
Happy Trading!
Bill
wil@futurescom.com
1-866-409-3890
Monday May 17th , 2004
3: 30 PM South Florida Beach Time
-----------------------------------------------------------------------------------------
Terms
FuturesCom Investment Publications Copyright@1996-2004 all rights reserved
Recommended Open BW Positions
Short 2 June EC 11928 avg
Short 2 June Swiss Franc 7783 avg
Short June British Pounds 17512
Short June Canadian Dollars 7241
Long 3 June SP500 1122.90 avg
Short June Gold 378.8
Short July Copper 11445
Short July Crude Oil 4148
Long July Hogs 7412
Long July Soybeans 974 1/2
Long 2 July Coffee 7155
Long July Cotton 6355