Economic and Investment Trend Analysis

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FuturesCom Investment Publications
Morning Comments Thursday June 24th , 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

Wed June 23rd, 2004
2:00 PM eastern time

Open BW Positions

The Frenzied Forex Front
Sept Yen
Resistance should appear near 9316 to 9347..
Support should appear near 9237 and 9156 to 9140

Sept Euro Currency (EC)
Support should appear at 12030 to 11975 and 11920
Resistance should appear near 12102 and 12175

Sept Swiss Franc
Recommended Open Position Short at 2 at 7963 avg
Resistance should appear near 8029 to 8044 and 8119 to 8134
Support should appear near 7954 to 7939.and 7864 to 7836

Sept British Pound
Support should appear near 17800 to 17740
Resistance should appear near 18080 to 18150 and 18220

Sept Canadian Dollar
Recommended Open Position Short at 7327
Support should appear near 7328 and 7255 to 7242
Resistance is at 7414 to 7428

Sept Aussie Dollar
Support should appear near 6755 to 6741 below that a test of 6673 to 6659 is likely..
Resistance should appear at 6836 and 6906 to 6919

The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance should appear near 10470 and 10580 to 10630
Support should appear near 10360 to 10320

September SP500
Recommended Open position Long 2 at 1133.00 avg
Resistance should appear near 1143.00 and 1150.00 .
Support should appear near 1133.00 to 1130 and 1115.50

Nasdaq Composite
Support should appear near 1996 to 1984
Resistance should appear near 2034 to 2042

Sept Mini Nasdaq 100
Resistance is at 1496 and 1512.5
Support is at 1471.5 and 1459 to 1453.

Sept 10 Year T-Note
Resistance should appear near 108-22 and 109-07
Support is at 108-07 and 107-22

Precious Metals

August Gold
Recommended Open Position Short 2 at 387.3 avg
Resistance should appear at 398.2 to 399.2 and 404.6 to 405.6
Support is at 392.9 to 390.9 and 386.7 to 385.8.

July Copper
Support should appear near 11920 and 11690 to 11640
Resistance should appear near 12030 and 12320 to 12380 ..BW Traders can sell at 12310 and risk a close over 127670 for three days in a row..

July Silver
Support should appear 573.5 to 571.5 and 565.5 to 564..
Resistance is at 594.to 595.5 and 602.5 to 603.5

The Exciting Energies
August Crude Oil
Resistance should appear near 3795 to 3806 and 3909 to 3929..
Support should appear near 3724 to 3716 and 3623 to 3613.

August Unleaded Gas
Resistance should appear near 12030 and 1320 to 12380
Support should appear near 11690 to 11640 and 11500

August Heating Oil
Resistance should appear near 10320 to 10360 and 10470
Support should appear near 9940 to 9920 and 9840 to 9820

The Lively Livestock

August Cattle
Support should appear near 8872 to 8857 and 8777 to 8762 .
Resistance is at 9042 to 9062 and 9142 to 9157

July Hogs
Recommended Open Position Short at 7762
Support is at 7777 to 7762 and 7692 to 7672
Resistance is at 7832 to 7867 and 7937 to 7957

August Hogs
Support is at 7602 to 7587 and 7512 to 7487
Resistance is at 7672 to 7692 and 7762 to 7777

August Pork Bellies
Resistance should appear near 11637 to 11692
Support is at 11362 to 11302

--- Traders should stay tuned for BW Updates and Flashes in the Livestock markets ---

The Grande’ Grains

Sept Corn
Support should appear near 277 1/2 to 275 3/4 and 272 1/2 to 271 3/4
Resistance is at 282 to 282 3/4 and 2871/2 to 288 3/4 ..

July Soybeans
Resistance is at 923 3/4 and 931 3/4 to 934 3/4
Support should appear near 915 3/4 to 914 and 906 3/4 to 904 1/2

November Beans
Support is at 691 3/4 to 690 3/4 then 675 1/2 to 674 1/4 and 667 1/4 to 665 3/4 .
Resistance is at 699 to 700 1/4 then 714 1/4 to 717 and the 724 1/4 to 725 1/2 region

July Soymeal
Recommended Open Position Short at 287.3
Support should appear near 299 to 297.2 and 288.3 to 287.4.
Resistance should appear near 303.6 to 304.5 and 309.2 to 310.2
.
August Soybean Oil
Recommended Open Position Short at 2734
Resistance should appear near 2820 to 2829 and 2874 to 2883
Support should appear near 2775 to 2758 and 2724 to 2716

July CBOT Wheat
Support should appear near 342 1/2 and the 338 3/4 to 337 3/4 region. Below that 332 3/4to 331 3/4 should provide some support.
Resistance should appear near 355 1/4 to 356 1/4 and the 361 1/4 to 362 1/4. region. Beyond that sellers should appear near 366 1/4 to 368 1/4...BW Traders can sell at 365 3/4 and risk a close over 376 1/4 for three days in a row

The Satisfying Softs

September Coffee
Recommended Open Position Long at 8320
Support is near 7605 to 7585.and 6515 to 7485
Resistance should appear near 7675 to 7690 and 7760 to 7775
BW Traders should go long if a close over 7785 occurs

Sept Cocoa
Support is at 1346 to 1334 and the 1310 to 1304 region.
Resistance is at 1377 to 1383 and the 1415 to 1421 region.. Beyond that sellers should appear near 1453 to 1459 BW Traders can sell at 1452 and risk a close over 1515 for three days in a row..

October Sugar
Support should appear near 739 to 735 and 712 to 704
Resistance should appear near 764 to 767 and 791 to 795
BW traders can sell at 789 and risk a close over 827 for three days in a row.

December Cotton
Support should appear near 5210 to 5200 and 5070 t0 5055
Resistance should appear near 5345 to 5355 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
1-866-409-3890
Wed June 23rd, 2004
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.

Recommended Open BW Positions
Short Sept EC 12172
Short 2 September Swiss Francs 7963 avg
Short September Canadian Dollars 7327
Long 2 Sept SP500 1133.00
Short 2 August Gold 387.3 avg
Long Sept Coffee 8320
Short July Hogs 7762
Short July Soybeans 903 1/4
Short July Soymeal 287.3
Short Aug Soybean Oil 2818

Terms