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Morning Comments Thursday January 6th 2005
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
Wed January 5th 2005
5:00 PM Eastern time
The Sensational Stock and Bond Markets
There are prices changes for the close only recommendations in SP500, Mini Russell , Mini Nasdaq
- We remain bullish the US Equity market and do not think this is a time to cut and run -
Dow Jones Industrial Average
Resistance should appear near the 10680 and 10750
Support should appear near 10580 and 10360 to 10320
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 1203.10 occurs
Nasdaq Composite
Nearby Support should appear near 2088 to 2080.
Nearby Resistance should appear near 2126 to 2134.
March Mini Nasdaq 100
Recommended open position long at 1577
Resistance is at 1572.5 to 1576 and the 1609 to 1615 region
Support is at 1535 to 1529.
BW Traders should go long if a close over 1593 occurs
March Mini Russell 2000
Recommended open position long at 635.6
Support is at 611.3 to 610.1 and 603.5 to 602.3
Resistance is at 625.7 to 627 and 633.7 to 635.00
BW Traders should go long if a close over 627.5 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 9706 to 9737
Support should appear near 9641 to 9625
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 7601 to 7587 and 7513 to 7486
Resistance should appear at 7675 to 7689 and 7763 to 7777
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 13460 to 13340 and 13100 to 13040
Resistance should appear near 13770 to 13830 and 14150 to 14210
March Silver
Support should appear near 650.5 to 648.5 and 643 to 641.5
Resistance
is at 665.5 to 667.5 and 674 to 675.5
The Exciting Energies
Feb Crude Oil
Resistance should appear near 4370 to 4381 and 4425 to 4446
Support should appear near 4315 to 4304 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 8872 to 8857 and 8777 to 8762
Resistance is at 8932 to 8967 and 9042 to 9062
February Hogs
Support is 7517 to 7487 .. A close under augurs for a test of 7427 to 7412
Resistance should appear near 7587 to 7602 and 7672 to 7687 ..
February Pork Bellies
Resistance should appear near 9422 to 9447 and 9527 to 9542.. Above that sellers should appear near
9622 to 9642 .. BW Traders can sell at 9622 and risk a close over 9857 for three days in a row
Support is at 9347 to 9317.. below that a test of 9157 to 9137 is likely.
.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 528 1/2 then 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 1996 to 1982
March CBOT Wheat
Recommended open position long 304 3/4
Support should appear near 297 1/4 and 293 3/4 to 292 3/4.
Resistance should appear near 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 9542 to 9527 and 9345 to 9315 .
Resistance should appear near 9920 to 9945 and 10020 to 10035
March Cocoa
Recommended open position short at 1527
Support is at the 1496 to 1484 and 1459 to 1453
Resistance is at 1529 to 1535 and 1569 to 1576
March Sugar
Recommended open position short 908
Support should appear near 882 to 877 and 852 to 847
Resistance should appear near 907 to 912 and 932 to 941
March Cotton
Support should appear near 4515 to 4505 and 4445 to 4425
Resistance should appear near 4635 to 4650 and 4775 to 4785
- 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 January 5th, 2005
6:30 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 Feb Hogs 7575
Short March Bean Oil 2002
Long March Wheat 304 3/4
Long March Coffee 10350
Short March Cocoa 1527
Short March Sugar 908