Economic and Investment Trend Analysis

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FuturesCom Investment Publications
Morning Comments Tuesday July 20th,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 July 19th, 2004
1:30 PM eastern time

Open BW Positions

The Frenzied Forex Front

Sept Yen
Recommended open postion short at 9235
Resistance should appear near 9316 to 9347 and 9429 to 9445 BW Traders can sell at 9427 and risk a close over 9488 for three days in a row.
Support should appear near 9237and 9156 to 9140

Sept Euro Currency (EC)
Recommended open position Short at 12172
Support should appear at 12380 to 12350 and 12320
Resistance is at 12440 and 12500

Sept Swiss Franc
Recommended open position Short at 8022
Resistance should appear near 8194 to 8223 and 8300 to 8316
Support should appear near 8134 to 8119 and 8044 to 8029

Sept British Pound
Support should appear near 18580 and 18400
Resistance should appear near 18830 and 19020 to 19090..
BW Traders can sell at 19010 and risk a close over 19150 for three days in a row.

Sept Canadian Dollar
Recommended open position Short at 7540
Support should appear near 7601 to 7587
Resistance is at 7675 to 7690

Sept Aussie Dollar
Support should appear near 7255 to7242
Resistance should appear at 7328 to 7342

The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance should appear near 10136 and 10185
Support should appear near 10037 to 10021

September SP500
Recommended open position Long 4 at 1124 80 avg
Resistance should appear near 1115.50
Support should appear near 1101 to 1096 and 1082.00

Nasdaq Composite
Support should appear near 1865 to 1858
Resistance should appear near 1902 to 1909

Sept Mini Nasdaq 100
Resistance is at 1415 to 1421
Support is at 1383 to 1377

Sept 10 Year T-Note
Resistance should appear near 111-22 and 112-07.
Support is at 111-07 and 110-22

Precious Metals

August Gold
Recommended open position short 2 at 391.7 avg
Resistance should appear at 411 to 412
Support is at 405.6 to 404.6

Sept Copper
Support should appear near 12740 to 12680 .
Resistance should appear near 13100 and 113340 to 113460

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

The Exciting Energies
Sept Crude Oil
Resistance should appear near 4163 to 4183 and 4238 to 4249
Support should appear near 4120 o 4110 and 4056 to 4046

Sept Unleaded Gas
Resistance should appear near 13030 to 13100 and 13340 to 13480
Support should appear near 12680 and 12500

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
Support should appear near 8302 then 8222 to 8192 and 8137 to 822
Resistance is at 8392 to 8407 and 8482 to 8502

August Hogs
Recommended open position Short at 7550
Support is at 7412 and 7342 to 7327
Resistance is at 7487 to 7512 and 7587 to 7602

October Hogs
Support is at 6507 to 6482 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 10817 and 10957 to 11010
Support is 10682 to 10632 and 10577

                                  The Grande’ Grains
December Corn
Support should appear near 241 3/4 to 241 1/4 and 237 to 235 1/2
Resistance is at 246 1/4 to 246 3/4 and 251 1/4 to 251 3/4

November Beans
Support is at 643 to 641 3/4 and 635 to 633
Resistance is at 650 3/4 and 657 1/4 to 659

December Soymeal
Support should appear near 199.6 to 198.2 and195.3 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 2411 to 2419 and 2461 to 2469
Support should appear near 2370 to 2354 and 2322 to 2315

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 then 7090 to 7070.and 7005 to 6990
Resistance should appear near 7240 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 1535 to 1529
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 ..
Resistance should appear near 4775 to 4785 and 4845 to 4855

- 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 July 19th
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 September Swiss Francs 8022
Short Sept Canadian Dollar 7540
Long 4 Sept SP500 1124.80 avg
Short 2 August Gold 391.7 avg
Short August Hogs 7550
Short August Pork Bellies 10920
Short December Bean Oil 2314
Short Sept Cocoa 1452

Terms