Economic and Investment Trend Analysis

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FuturesCom Investment Publications
Morning Comments Friday July 16th,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

Thursday July 15th, 2004
2:35 PM eastern time

Open BW Positions

The Frenzied Forex Front

Sept Yen
Resistance should appear near 9140 to 9156 and 9237 Beyond that sellers should appear
near 9316 to 9347
Support should appear near 9060 to 9044 and the 8964 to 8934 region…

Sept Euro Currency (EC)
Recommended open position Short at 12172
Support should appear at 12320 and 12247.. under that of 12175 is likely
Resistance is at 12350 to 12380 then 12440 and 12500

Sept Swiss Franc
Recommended open position Short at 8022
Resistance should appear near 8119 to 8134 and 8194 to 8223..
Support should appear near 8044 to 8029 and 7954 to 7939

Sept British Pound
Support should appear near 18400 and 18220 to 18080
Resistance should appear near 1.8580 to 1.8650

Sept Canadian Dollar
Recommended open position Short at 7540
Support should appear near 7513 to 7486 , below that a test of 7428 to 7414 is likely
Resistance is at 7587 to7601 and 7675 to 7690

Sept Aussie Dollar
Support should appear near 7170 to 7143 and 7088 to 7074
Resistance should appear at 7242 to 7255 and 7328 to 7342
BW Traders should go short if a close under 7137 occurs..

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 4 at 1124 80 avg
Resistance should appear near 1130.00 to 1136.00
Support should appear near 1101.00 to 1096.00

Nasdaq Composite
Support should appear near 1909 to 1902
Resistance should appear near 1946 to 1953

Sept Mini Nasdaq 100
Resistance is at 1453 to 1459
Support is at 1321 to 1415 and 1383 to 1377

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 404.6to 405.6 and 411 to 412
Support is at 399.2 to 398.2

Sept Copper
Support should appear near 12740 to 12680 , a close under augurs for a test of 12380 to 12320..
Resistance should appear near 13030 to 13100 and 13340 to 13460

Sept Silver
Recommended open position short at 633
Support should appear 659 to 657.5 and 651 to 648.5
Resistance is at 665.5 to 667.5 then 674.5 to 675.5 and 680.5 to 683.5

The Exciting Energies
Sept Crude Oil
Resistance should appear near 4110 to 4120 and 4163 to 4183
Support should appear near 4056 to 4046 and 3992 to 3982

Sept Unleaded Gas
Resistance should appear near 13030 to 13100 and 13340to 13460
Support should appear near 12740 to 12680

Sept Heating Oil
Resistance should appear near 11300 to 11360 and 11500
Support should appear near 11010 to 10960 and 10680 to 10580..

The Lively Livestock
August Cattle
Recommended open position short at 8370
Support should appear near 8222 to 8192 and 8137 to 8117
Resistance is at 8302 to 8317 and 8392 to 8407

August Hogs
Recommended open position Short 2 at 7655 avg
Support is at 7342 to 7327 and 7257 to 7242
Resistance is at 7412 to 7427 and 7487 to 7512

October Hogs
Support is at 6512 to 6487 and 6432 to 6417
Resistance is at 6577 to 6592 and 6657 to 6672 .

August Pork Bellies
Recommended open position short at 10920
Resistance should appear near 10957 to 11012 and 11157.
Support is 10822 and 10682 to 10632

The Grande’ Grains

December Corn
Support should appear near 246 3/4 to 246 1/4 and 241 3/4 to 241 1/4
Resistance is at 251 1/4 to 251 3/4 then 255 1/4 to 256 3/4 and 261 1/4 to 261 3/4
BW Traders can sell at 260 3/4 and risk a close over 273 1/4 for three days in a row.

November Beans
Support is at 643 to 641 3/4 then 635 to 633 and 627 to 625 3/4
Resistance is at 648 3/4 to 650 3/4 and 657 3/4 to 659 1/4.. Beyond that sellers
should appear near 665 3/4 to 667 1/4

December Soymeal
Recommended Open Position Short at 201
Support should appear near 199.6 to 198.2 and 195.3 to 194.6
Resistance should appear near 203.4 to 204.2 and 208 to 208.9

December Soybean Oil
Recommended open position Short at 2314
Resistance should appear near 2354 to 2370 and 2411 to 2419
Support should appear near 2322 to 2315 and 2275 to 2267

Sept CBOT Wheat
Support should appear near 332 3/4 to 331 3/4 and the 327 to 326 region.
Resistance should appear near 337 3/4 to 3383/4 and 342 1/2 to 344 1/4.

The Satisfying Softs

September Coffee
Support is near 7170 to 7145 and 7090 to 7070.
Resistance should appear near7240 to 7255 and 7325 to 7340
Aggressive BW Traders should go long if a close over 7265 occurs.

Sept Cocoa
Recommended open position short at 1452
Support is at 1529 and 1496 to 1484
Resistance is at 1569 to 1576

October Sugar
Support should appear near 823 to 814 and 795 to 791
Resistance should appear near 847 to 852 and 887 to 882.
BW Traders can sell at 876 and risk a close over 917 for three days in a row.

BW Traders should go short if a close under 811 occurs.

December Cotton
Support should appear near 4715 to 4695 and 4650 to 4635 ..
Below that buyers should appear near 4515 to 4505…
Resistance should appear near 4845 to 4855 and 4915 to 4930

- 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
Thursday July 15th
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 September Swiss Francs 8022
Long 4 Sept SP500 1124.80 avg
Short 2 August Gold 391.7 avg
Short August Cattle 8370
Short 2 August Hogs 7655 avg
Short August Pork Bellies 10920
Short December Soymeal 201
Short December Bean Oil 2314
Short Sept Cocoa 1452

Terms