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Morning Comments Thursday January 20th 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 19th 2005
2:00 PM Eastern time
Dow Jones Industrial Average
Resistance should
appear near 10630 and 10680 .
Support should appear near 10580 and 10470 Which should contain a decline
March SP500
Recommended open position long 2 at 1199.50 avg
Resistance should appear near 1203.00 and 1217.50
Support should appear near 1192.00 then 1180.50 and the 1169.00 to 1164.00 region.
Below that buyers should appear near 1150.00. BW
traders can buy at 1169.30 and plan on risking a close under 1161.00 for three
days in a row
Nasdaq
Composite
Support should appear near 2088, under that and 2042 to 2034 should
bring buyers out of the woodwork
Resistance should appear near 2126 to 2134, an extended trade or close
over augurs for a test of 2170 to 2185
March Mini Nasdaq 100
Recommended open position long at 1577
Resistance is at 1569 to1576
Support is at 1535 to 1519
March Mini Russell 2000
Recommended open position long 620
Support is at 619 to 616.5 and 611.30 to 610.10. Below that buyers should appear near 603.50
to 602.30 .
Resistance is at 625.70 to 627.00 an extended trade over is
friendly and augurs for a test of the 633.70 to 635.00 region.
March 10 Year T-Note
Resistance should
appear near 112-07 and 112-22.
Support is
at 111-22., a close under augurs for a test of
111-07.
The Frenzied Forex Front
March Yen
Recommended open position short 9610
Resistance should appear near 9821 to 9837and 9921 to 9937
Support should appear near 9737 to 9706 and 9641 to9625
March
Euro Currency (EC)
Recommended open position short at 13037
Support should appear at 12890 and 12740 to 12680.
Resistance should appear near 13040 to 13100
March
Swiss Franc
Recommended open position short at 8501
Resistance should appear near 8484 to 8499 and the 8560 to 8589 region..
Support should appear near 8406 to
8391, a close under augurs for a test of 8314 to 8300.
BW Traders should go short if a close under 8387 occurs
March
British Pound
Support should
appear near 18580 region… a close under augurs for a test of 18220 to 18080
Resistance should appear near
18680 and 18867
BW Traders should go short if a close under 18576 occurs.
March
Canadian Dollar
Support should appear near 8134
to 8119 and the 8044 to 8029 region.
Resistance is at 8194 to 8223 and
8300 to 8314
March
Aussie Dollar
Recommended open position short at 7532
Support should appear near 7513 to 7486 region..
Resistance should appear at 7587 to 7601 and 7675 to 7689.
Precious
Metals
February Gold
Resistance should appear at 423.8
to 424.9 and the 430.4 to 431.5 region.
Support is at 418.3 to 416.3 below
that a trade towards the 412.0 to 411.0 region is likely..
March Copper
Recommended open position short at 14140
Support should appear near 13830 to 13770 and 13460 to 13340
Resistance should appear near 14150 to 14210 and the 14530 to 14590 region.
BW Traders should go short if a close under 13740 occurs
March Silver
Support should appear near 650.5 to 648.0.. below that buyers should appear
near 635.0 to 633.5..
Resistance is at 665.5 to 667.5 and the 674.o to 675.5 region .
Beyond that sellers should appear near 699.0 to 700.5.
The Exciting Energies
March Crude Oil
Resistance should appear
near 4775 to 4785 and 4845 to 4856
Support should appear near
4717 to 4695 and 4650 to4639
March Unleaded Gas
Recommended open position short at 12830
Resistance should appear near
13040 to 13100 , and the 13340 to 13460 region .
Support should appear near 12740 to
12680.. A close under augurs for a test of
12380 to12320
March Heating Oil
Resistance should appear 13460
and the 13770 to 13830 region. Beyond that sellers should appear near
14150 to 14210 and 14530 to 14590.. Which should cap a rally..
Support should appear near 13340 then 13100 to 13040 and the 12740 to
12680 region Below that a test of
12380 to 12320 is likely.
BW Traders should go short if a close under 13330 occurs
The Lively Livestock
February Cattle
recommended open position short 8940
Support should appear near 8872 to 8857 and 8777 to 8762.
Resistance is at 8967 and 9042 to 9062
February
Hogs
Recommended open
Positions Short 2 at 7567 avg
Support is 7517 to 7487 .. A close under augurs for a test
of 7427 to 7412 .
Resistance should appear near 7587
to7602 and 7672 to 7687
February Pork Bellies
Recommended open Position Short 2 at 9482 avg
Resistance should appear near 9422 to 9447 and
9527 to 9542
Support is at 9347 to 9317
and the 9157 to 9137 region
The
Grande’ Grains
March Corn
Support should appear 195 ¼ to 194 ¾ and 190 ¾ to 190 ¼
Resistance is at 198 ¼ to 199 ¾ and 203 ½ to 204 ¼ .
March
Soybeans
Support is 513 3/4 to 512
3/4 and the 506 3/4to 505 3/4 region.
Resistance is at 520 to 521 1/4 and 525 3/4
to 528 1/2 .
March
Soymeal
Support should appear near 153.5 to 152.9 and the 149.6 to 148.4 region
Resistance should appear near 156.9 to 157.6 and the 160.9 to 161.5 region.
March
Soybean Oil
Resistance should appear near 2034 to 2042and 2080 to2088
Support
should appear near 1953to1946 and 1909 to
1902.
March CBOT Wheat
Support should appear near 297 1/4 and 293 3/4 to 292 3/4 region..
Resistance should appear near 303 3/4 to 304 1/2 and 3091/4 to 310
1/4
The Satisfying Softs
March ‘The Monster’ Coffee
Recommended open position Long 3 at 10240 avg
Support is near 10360 to 10320 and 10185
Resistance should appear near 10475.. an extended trade or close over augurs
for a test of 10580 to 10680
March
Cocoa
Support is at 1496 to 1484 region.. A close under is negative and augurs for
a test of 1459 to 1453 and eventually the 1421 to 1415 region.
Resistance is at 1529 to 1535 and 1569 to 1576.
BW Traders should go short if a close under 1483 occurs..
March
Sugar
Support should appear near 882 to 877, a close under augurs for a test of
852 to 847
Resistance should appear near 907 to 912 and 932 to 941.. BW
Traders can sell at 907 for
a turn lower and risk a close over 947 for three days in
row.
March
Cotton
Recommended open position long at 4675
Support should appear
near 4785to 4775 and 4715 to 4695
Resistance should appear near 4845 to 4855 and the 4915 to 4925 region.
.
- 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 18th, 2005
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.
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Publications © copyright 1996 – 2005 all rights reserved Terms
Current BW
Recommended Open Positions
Long 2 March SP500 1199.50 avg
Long March Mini Nasdaq 1577
Long March Mini Russell 620
Short March Yen 9610
Short March EC 13037
Short March Swiss Francs 8501
Short March Aussie Dollars 7532
Short March Copper 14140
Short March Unleaded Gas 12830
Short Feb cattle 8940
Short 2 Feb Hogs 7567 avg
Short 2 Feb Bellies 9482 avg
Long 3 March Coffee 10240 avg