Economic and Investment Trend Analysis

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FuturesCom Investment Publications
Morning Comments Wed July 7th,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

Tuesday July 6th, 2004
1:30 PM eastern time

July: Renamed for Julius Caesar in 44 BC, who was born this month; Quintilis, Latin for fifth month, was the former name (the Roman year began in March rather than January )

* Indicates Updated BW recommendation
Open BW Positions

The Frenzied Forex Front
Sept Yen
Resistance should appear near 9237 and 9316 to 9347
Support should appear near 9156 to 9140 and the 9060 to 9044 region..

Sept Euro Currency (EC)
Recommended Open Position Short at 12173
Support should appear at 12248 and 12175
Resistance is at 12320 to 12380.

Sept Swiss Franc
Recommended Open Position Short 2 at 7963 Avg
Resistance should appear near 8134 and 8194 to 8223
Support should appear near 8044 to 8029

Sept British Pound
Support should appear near 18220 and 18150 to 18080
Resistance should appear near 18400 and 18580 to 18650

Sept Canadian Dollar
Support should appear near 7513 to 7487
Resistance is at 7587 to 7601

Sept Aussie Dollar
Support should appear near 7088 to 7074
Resistance should appear at 7143 to 7170

The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance should appear near 10257 and 10320 to 10360
Support should appear near 10185 and 10136 to 10104

September SP500
Recommended open position Long 3 at 1127 20 avg
Resistance should appear near the 1130.00 to 1136.00 region
Support should appear near the 1101.00 to 1096.00 region
* BW Traders should go long if a close over 1123.30 occurs.

Nasdaq Composite
Support should appear near 1953 to 1946
Resistance should appear near 1982 to 1996

Sept Mini Nasdaq 100
Resistance is at 1459 and 1571.5
Support is at 1421 to 1415

Sept 10 Year T-Note
Resistance should appear near 110-22 and 111-07
Support is at 110-07 and 109-22

Precious Metals

August Gold
Recommended Open position Short 2 at 391.7 avg
Resistance should appear at 395.6 and 398.2 to 399.2
Support is at 390.9 and 386.7 to 385.8

Sept Copper
Support should appear near 12030 to 11920 and 11690 to 11640
Resistance should appear near 12320 to 12380 and 12680 to 12740

Sept Silver
Support should appear 585.5 to 588 and 580.5 to 579.5...
Resistance is at 602.5 to 603.5.and 616.5 to 619.0

The Exciting Energies
August Crude Oil
Resistance should appear near 3982 to 3992 and 4046 to 4056
Support should appear near 3929 to 3909 and 3867 to 3858

August Unleaded Gas
Recommended Open Position Short 1.2310
Resistance should appear near 13040 to 13100
Support should appear near 12680 and 12380 to 12320

August Heating Oil
Resistance should appear near 11010 and 11300 to 11360
Support should appear near 10820 and 10680 to 10580

The Lively Livestock
August Cattle
Recommended open position Short at 8645
Support should appear near 8762 and 8682 to 8667
Resistance is at 8857 to 8872 and 8932 to 8967

August Hogs
Recommended Open Position Short 2 at 7627 avg
Support is at 7612 to 7587 and 7512 to 7487.
Resistance is at 7677 to 7692 then 7762 to 7777 and 7837 to 7867

August Pork Bellies
Resistance should appear near 11302 to 11362
Support is 11012 to 10962

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

The Grande’ Grains

Sept Corn
Support should appear near 251 3/4 to 251 1/4
Resistance is at 2611/4 to 262

August Soybeans
Support is at 813 1/2 to 811 3/4 and 804 1/2 to 802 3/4
Resistance is at 830 to 831 1/2 and 839 1/4 to 840 3/4

November Beans
Support is at 643 to 641 3/4 and 635 to 633 3/4
Resistance is at 657 1/4 to 659 1/4 and 665 3/4 to 667 1/4

August Soymeal
Support should appear near 288.3 to 287.4 and 282.9 to 282.0
Resistance should appear near 297.2 to 299 and 303.6 to 304.5

August Soybean Oil
Resistance should appear near 2829 and 2874 to 2884
Support should appear near 2775 to 2758 and 2724 to 2716

Sept CBOT Wheat
Support should appear near 338 3/4 to 337 3/4 and the 327 to 326 1/4 region ..
Resistance should appear near 349 1/4 to 350 1/4 and 355 1/4 to 356 1/4

The Satisfying Softs

September Coffee
Support is near 7005 to 6990 and 6755 to 6740
Resistance should appear near 7145 to 7170

Sept Cocoa
Support is at 1310 to 1304 and 1274 to 1268
Resistance is at 1346 and 1377 to 1383

October Sugar
Support should appear near 795 to 791 and 767 to 763
Resistance should appear near 814 to 823 and 857 to 852

December Cotton
Support should appear near 4855 to 4845 and 4785 to 4775
Resistance should appear near 4970 to 4995 and 5125 to 5140

- 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
Tuesday July 6th
2:30 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
Long 3 Sept SP500 1127.20 avg
Short August Unleaded Gas 12310
Short 2 August Gold 391.7 avg
Short August Cattle 8640
Short 2 August Hogs 7627 avg

Terms