Economic and Investment Trend Analysis

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FuturesCom Investment Publications
Morning Comments Tuesday July 27th,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 26th, 2004
1:30 PM eastern time

Open BW Positions
The Frenzied Forex Front

Sept Yen
Recommended open position short at 9154
Resistance should appear near 9156 to 9140 and 9237.. BW Traders can sell at 9233 and risk
a close over 9357 for three days in a row..
Support should appear near 9060 to 9044 and 8964 to 8934

BW Traders should go short if a close under 9037 occurs.

Sept Euro Currency (EC)
Recommended open position Short at 12172
Support should appear at 12102 then 12030 to 11975 region.
Resistance is at 12175.. beyond that sellers should appear near 12247 and the 12320 to 12380 region.
BW Traders should go short if a close under 11917 occurs

Sept Swiss Franc
Recommended open position Short at 7937
Resistance should appear near 7939 to 7954. Beyond that sellers should appear near 8029 to 8044
Support should appear near 7864 to 7836 and the 7777 to 7763 region.

Sept British Pound
Support should appear near 18220 to 18080 and 17800 to 17740.
Resistance should appear near 18400 and the 1.8580 to 1.8650 region.
BW Traders can sell at 18570 and risk a close over 18680 for three days in a row.

BW Traders should go short if a close under 18212 occurs.

Sept Canadian Dollar
Recommended open position short at 7507
Support should appear near 7486 and 7428 to 7414
Resistance is at 7513 and 7587 to7601

Sept Aussie Dollar
Support should appear near 7003 to 6990 and the 6836 to 6809 region.
Resistance should appear at 7074 to 7088.and 7143 to 7170. BW Traders can sell at 7137 and risk a close over 7212 for three days in a row..
BW Traders should go short if a close under 6987 occurs..

The Sensational Stock and Bond Markets
Dow Jones Industrial Average
Resistance should appear near 9979 and 10021 to 10037.
Support should appear near 9921 and the 9837 to 9821 region..

September SP500
Recommended open position Long 4 at 1124 80 avg
Resistance should appear near 1096.00 to 1101.00
Support should appear near the1068.00 to 1058.00 region.

Nasdaq Composite
Support should appear near 1822 to 1808 and 1780 to 1774
Resistance should appear near 1858 to 1865 and 1902 to1909

Sept Mini Nasdaq 100
Resistance is at 1383 and 1415 to 1421
Support is at 1346 to 1334 and 1310 to 1304.

Sept 10 Year T-Note
Resistance should appear near 110-22 and 111-07 Beyond that sellers should appear near 111-22.
Support is at 110-07, failure there augurs for a test of 109-22.and 109-07.

Precious Metals

December Gold
Recommended open position short at 389.7
Resistance should appear at 398.2 to 399.2 and 404.6 to 405.6
Support is at 392.9 to 390.9 and 387.7 to 385.8 ..Below that buyers should appear near 380.6 to 379.5.
BW Traders should go short if a close under 390.2 occurs.

Sept Copper
Support should appear near 12380 to 12320.. Below that buyers should appear neat 12030 to 11920.
Resistance should appear near 12680 to 12740 and 13030 to 13100

Sept Silver
Recommended open position short at 633
Support should appear 619 to 616.5 and 603.5 to 602.0
Resistance is at 625.5 to 627 and 633.5 to 637 Beyond that seller should appear near 641.5 to 643

                              The Exciting Energies

Sept Crude Oil
Resistance should appear near 4163 to 4183.. Beyond that sellers should appear near 4238 to 4249 and
the 4303 to 4315 region… Above that 4370 to 4381 should cap a rally.
Support should appear near 4056 to 4046.. A close under is negative and augurs for a test of 3992 to 3982 .

Sept Unleaded Gas
Recommended open position short 12435
Resistance should appear near 12680 to 12740 and 13030 to 13100
Support should appear near 12380 to 12320 and the 12030 to 11920 region

Sept Heating Oil
Resistance should appear near 11300 to 11360 and 11640 to 11690.
Support should appear near 11155 and 11010 to 10960.

                                                The Lively Livestock

October Cattle
Support should appear near the 8967 to 8932 and 8882 to 8857
Resistance is at 9137 to 9157 and 9317 to 9347

August Hogs
Recommended open position Short 7557
Support is at 7602 to 7587 and 7512 to 7487
Resistance is at 7672 to 7692 ...above that sellers should appear near 7762 to 7777 and 7837 to 7867

October Hogs
Recommended open position Short 2 at 6612 avg
Support is at 6672 to 6657 and 6592 to 6577 .
Resistance is at 6757 and the 6807 to 6837 region. Beyond that 6907 to 6922 should cap a rally..
BW Traders should go short if a close under 6482 occurs.

August Pork Bellies
Resistance should appear near 10962 to 11012.and 11152.
Support is 10822 then 10682 to 10632 and 10577.
BW Traders should go short if a close under 10572 occurs

The Grande’ Grains

December Corn
Support should appear near 227 1/2 to 226 3/4 and 222 3/4 to 221 3/4.
Resistance is at 235 1/2 to 237 and 241 1/4 to 241 3/4 . Beyond that sellers should appear near 246 1/4 to 246 3/4 BW Traders can sell at 245 3/4 and risk a close over 273 1/4 for three days in a row.

November Soybeans
Recommended open position short at 596
Support is at 588 to 585 1/2 and the 572 3/4 to 571 3/4 region..
Resistance is at 602 1/4 to 603 1/2 and 610 1/4 to 611 1/4 .

December Soymeal
Support should appear near 182.2 to 180.8 and the 178.0 to 177.4 region.
Resistance should appear near 185.8 to 186.5 and 190.2 to 190.9 .Above that sellers should appear near the 194.6 to 195.3 region .BW .Traders can sell at 194.3 and hold for lower prices..
BW Traders should go short if a close under 184.9 occurs

December Soybean Oil
Resistance should appear near 2226 then 2267 to 2275 and 2315 to 2322.
BW Traders can sell at 2314 and risk a close over 2426 for three days in a row.
Support should appear near 2185 to 2170.. below that a test of 2042 to 2034 is likely..
BW Traders should go short if a close under 2212 occurs.

Sept CBOT Wheat
Support should appear near 321 1/4 to 319 1/2 then 310 1/4 to 309 1/4 and the 304 1/2 to 303 3/4 region….BW Traders can buy at 304 3/4 for a bounce and risk a close under 291 3/4 for three days in a row..
Resistance should appear near 331 3/4 to 332 3/4 and 337 3/4 to 338 3/4 Beyond that sellers should appear near 342 1/2 to 344 1/4 BW Traders can sell at 342 1/2 and risk a close over 351 1/4 for three days in a row.. ..

The Satisfying Softs

September Coffee
Recommended Open position long at 7360
Support is near 6835 to 6810 .. under that buyers should appear near 6755 to 6740 and the 6670 to 6655 region. BW Traders can buy at 6680 and hold for higher prices..
Resistance should appear near 6905 to 6920 and 6990 to 7005.

Sept Cocoa
Recommended open position Short 2 at 1522 avg
Support is at 1576 to 1569.. a close under is negative and augurs for a trade towards 1535 to 1529...
Resistance is at 1609 to 1615 and 1642 to 1655.

October Sugar
Recommended Open Position Short at 811
Support should appear near 795 to 791 and the 767 to 763 region. Below that a test of 739 to 735 is likely
Resistance should appear near 823 and 847 to 852..Beyond that sellers should appear near 877 to 882.. BW Traders can sell at 876 and risk a close over 917 for three days in a row.

December Cotton
Support should appear near 4515 to 4505 and the 4445 to 4425 region.
Resistance should appear near 4635 to 4650 and 4695 to 4715

- 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 26, 2004
3:00 PM South Florida Beach Time

THIS PUBLICATION IS SUBJECT TO REVISIONS AND 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.
FuturesCom Investment Publications Copyright@1996-2004 all rights reserved

Recommended Open BW Positions
Short Sept EC 12172
Short Sept Swiss Francs 7937
Short Sept Canadian Dollars 7507
Long 4 Sept SP500 1124.80 avg
Short Dec Gold 389.7
Short Sept Silver 633
Short August Hogs 7550
Short Sept Unleaded Gas 12435
Short 2 October Hogs 6612 avg
Long Sept Coffee 7360
Short 2 Sept Cocoa 1522
Short Oct Sugar 811

Terms