Economic and Investment Trend Analysis

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FuturesCom Investment Publications
Morning Comments Thursday August 5th,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

Wednesday August 4th, 2004
2:30 PM eastern time

Open BW Positions

The Frenzied Forex Front

Sept Yen
Resistance should appear near 9100 and 9140 to 9156
Support should appear near the 9060 to 9044 and the 8964 to 8934 region

Sept Euro Currency (EC)
Recommended open Position Short at 12043
Support should appear at 12030 and 11975
Resistance is at 12102 and 12175..
BW Traders should go short if a close under 11917 occurs

Sept Swiss Franc
Resistance should appear near 7864 and 7939 to 7954.
Support should appear near 7777 to 7763 and 7689 to 7675

Sept British Pound
Recommended open positions short at 18135
Support should appear near 18150 to 18080
Resistance should appear near 1.8220 and 1.8400

Sept Canadian Dollar
Recommended open position short at 7507
Support should appear near 7587 and 7513 to7486
Resistance is at 7638 and 7675 to 7689

Sept Aussie Dollar
Recommended open position short at 6951
Support should appear near 6990 and 6919 to 6906
Resistance should appear at the 7074 to7088 region

The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance should appear near 10,185 and 10,247
Support should appear near 10120 to 10,104 and 10,037 to 10,021

September SP500
Recommended open position Long 4 at 1124 80 avg
Resistance should appear near 1101.00 and 1115.50
Support should appear near 1096.00 and 1082.00

Nasdaq Composite
Support should appear near the 1822 to 1808.
Resistance should appear near 1858 to 1865

Sept Mini Nasdaq 100
Resistance is at 1399 and the 1415.00 to 1421.00
Support should appear near the 1377.00 and the 1346 to 1334 region

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

Precious Metals

December Gold
Recommended open position short at 389.7
Resistance should appear at 398.2 to 399.2
Support is at 392.9 to 390.9

Sept Copper
Support should appear near 127.40 to 126.80
Resistance should appear near 13040 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 674 to 675.5..Beyond that 690.5 to 692 should cap a rally

The Exciting Energies

Sept Crude Oil
Resistance should appear near 4304 to 4310 and 4370 to 4381
Support should appear near 4249 to 4238 and 4183 to 4163

Sept Unleaded Gas
Resistance should appear near 12320 to 12380 and 12680 to 12740
Support should appear near 119.20 and 11690 to 11640

Sept Heating Oil
Resistance should appear near 11640 to 11690 then 1.1920 to 1.2030 and 12175
Support should appear near 1.1500 then 11360 to 11300 and 11010 to 10960

The Lively Livestock
October Cattle
Support should appear near 8682 to 8667 and 8592 to 8562 .
Resistance is at 8762 to 8777 then 8857 to 8872 and 8932 to 8967

October Hogs
Recommended open position Short 3 at 6752 avg
Resistance is at 7072 to 7087 and 7142 to 7172
Support is at 7002 to 6992 and 6922 to 6907

August Pork Bellies
Resistance should appear near 10037 to 10022 and 10102 to 10137
Support is at 9837 to 9822 under that a test of 9737 to 9707 is likely

Stay tuned for BW updates and Flashes

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 231 1/2 to 232 1/4 and 235 1/2 to 237

November Soybeans
Support is at 555 1/2 then 550 1/2 to 549 1/4 and 543 to 541 1/4
Resistance is at 564 to 565 1/4 and 571 3/4 to 572 3/4

December Soymeal
Support should appear near 169.6 to 168.9
Resistance should appear near 173.1 to 173.8 and 177.4 to 178.0

December Soybean Oil
Resistance should appear near 2080 to 2089 and 2126 to 2134
Support should appear near 2042 to 2034 and the 1996 to 1982 region

Sept CBOT Wheat
Support should appear near 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 319 1/2 to 321 1/4.and 326 1/4 to 327

Stay tuned for BW Updates and Flashes

The Satisfying Softs

September Coffee
Recommended Open position long 2 at 7020 avg
Support should appear near 6590 to 6575 and 6510 to 6485
Resistance should appear near 6655 to 6670 and 6740 to 6755

Sept Cocoa
Support is at 1696 to1689 and 1655 to 1642
Resistance is at 1731 to 1738 and 1774 to 1780

October Sugar
Recommended Open Position Short at 811
Support should appear near 814 and 795 to 791
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 4445 to 4425
Resistance should appear near 4570 to 4585 and 4635 to 4650

- 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 August 4th 2004
3:40 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 12048
Short Sept British Pounds 18135
Short Sept Canadian Dollars 7507
Short Sept Aussie Dollar 6951
Long 4 Sept SP500 1124.80 avg
Short Dec Gold 389.7
Short Sept Silver 633
Short 3 October Hogs 6752 avg
Long 2 Sept Coffee 7020 avg
Short Oct Sugar 811

Terms