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Morning Comments Wed January 5th 2005
Serving
Professional and Individual Traders World Wide since 1988
7690 Rockport Circle , Lake Worth , Florida
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Tuesday January 4th 2005
3:00 PM Eastern time
The Sensational Stock and Bond Markets
Dow Jones Industrial Average
Resistance should appear near the 10680 and 10750
Support should appear near 10630 and 10580
March SP500
Recommended open position long at 1203.00
Resistance should appear near 1192.00 to 1197.50 and 1203.00
Support should appear near 1180.50 and the 1169.00 to 1164.00 region
BW traders can buy at 1169.30 and plan on risking a close under 1161.00 for three days in a row
BW Traders should go long if a close over 1217.50 occurs
Nasdaq Composite
Support should appear near 2088 to 2080 .
Resistance should appear near 2126 to 2134 .
March Mini Nasdaq 100
Recommended open position long at 1577
Resistance is at 1609 to 1615
Support is at 1576 to 1569.
BW Traders should go long if a close over 1629 occurs
March Mini Russell 2000
Recommended open position long at 635.6
Support is at 627 to 625.7
Resistance is at 633.7 to 635.00
BW Traders should go long if a close over 659.7 occurs
March 10 Year T-Note
Resistance should appear near 111-22 and 112-07.
Support is at 111-07 . Below that support should appear near 110-22
The Frenzied Forex Front
March Yen
Recommended open position Short at 9610
Resistance should appear near 9625 to 9641
Support should appear near 9542 to 9526
March Euro Currency (EC)
Support should appear at 13100 to 13040
Resistance should appear near 13340 to13460 .
March Swiss Franc
Resistance should appear near 8626 and 8668 to 8683.
Support should appear near 8560 and 8499 to 8484
March British Pound
Support
should appear near the 18650 to 18580 region.
Resistance should appear near 18876 and 19020 to 19090
March Canadian Dollar
Support should appear near 8134 to 8119
Resistance is at 8194 to 8223
March Aussie Dollar
Support
should appear near the 7601 to 7587 region
Resistance should appear at 7675 to 7689
Precious Metals
February Gold
Resistance should appear at 430.4 to 431.5 and 437 to 438.1
Support is at 424.9 to 423.8 .. Below that a test of 418.3 to 416.3 is likely.
March Copper
Support should appear near 13100 to 13040
Resistance should appear near 13770 to 13830
March Silver
Support should appear near 627. to 625.5 and 580.5 to 579.0
Resistance
is at 648.5 to 650.5 and 665.5 to 667.5
The Exciting Energies
Feb Crude Oil
Resistance should appear near 4425 to 4446 and 4503 to 4514
Support should appear near 4381 to 4370 and 4249 to 4238
Feb Unleaded Gas
Resistance should appear near 11920 to 12030
Support should appear near 11360 to 11300
Feb Heating Oil
Resistance should appear near 12680 to 12740 and 13040 to 13100
Support should appear near 12030 to 11920 and 11690 to 11640
The Lively Livestock
February Cattle
Support should appear near 8967 to 8962 and 8872 to 8857
Resistance is at 9062 and 9137 to 9157
February Hogs
Support is 7602 to 7587 and 7517 to 7487 .. A close under augurs for a test of 7427 to 7412
Resistance should appear near 7672 to 7687 and the 7762 to 7777 region ..
BW Traders should go short if a close under 7577 occurs.
February Pork Bellies
Resistance should appear near 9527 to 9542 .. Beyond that sellers should appear near 9707 to 9737
BW Traders can sell at 9622 and risk a close over 9857 for three days in a row
Support is at 9447 to 9427 and 9347 to 9317.BW Traders should go short if a close under 9312 occurs
The Grande’ Grains
March Corn
Support should appear near 199 3/4 to 198 1/4 and 195 1/2 to 194 3/4
Resistance is at 203 1/2 to 204 1/4 and 208 to 208 3/4, .
BW traders should go long if a close over 209 1/4 occurs.
March Soybeans
Support is at 521 to 520.0 and 506 3/4 to 505 3/4
Resistance is at 525 3/4 to 528 1/2 and 534 1/2 to 535 3/4
March Soymeal
Support should appear near 153.5 to 152.9 and 149.6 to 148.4
Resistance should appear near 156.9 to 157.6 and 160.9 to 161.5
March Soybean Oil
Recommended open position short at 2002
Resistance should appear near 2034 to 2042
Support should appear near 1953 to 1946.
March CBOT Wheat
Recommended open position long 304 3/4
Support should appear near 293 3/4 to 292 3/4 and 288 1/4 to 287 3/4 .
Resistance should appear near 297 1/4 to 299 and 303 3/4 to 304 1/2
BW Traders should go long if a close over 310 3/4 occurs
The Satisfying Softs
March ‘The Monster’ Coffee
Recommended open position long at 10350
Support is near 10140 to 10125. Below that buyers should appear near 10035 to 10020 .
Resistance should appear near 10320 to 10360 and 10580 to 10680
BW Traders should go long if a close over 10475 occurs
March Cocoa
Recommended open position short at 1527
Support is at the 1496 to 1484 region
Resistance is at 1529 to1535 and 1569 to 1576
March Sugar
Recommended open position short 908
Support should appear near 882 to 877
Resistance should appear near 907 to 912.
March Cotton
Support should appear near 4385 to 4370 .. Below that buyers should appear near
the 4250 to 4235 and 4186 to 4165 region. BW Traders can buy at 4260 and hold for higher prices , risk a close under 4105 for three days in a row.
Resistance should appear near 4505 to 4515, and the 4570 to 4585 region. A close over is friendly and augurs for a test of 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
Tuesday January 4th, 2005
4:45 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 – 2005 all rights reserved Terms
Current BW Recommended Open Positions
Long March Mini Nasdaq 1577
Long March Mini Russell 635.6
Short March Yen 9610
Short March Bean Oil 2002
Long March Wheat 304 3/4
Long March Coffee 10350
Short March Cocoa 1527
Short March Sugar 908