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Morning Comments Tuesday Feb 22th, 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
Monday All US Markets are closed in observance of Presidents day. Globex opens at normal time Sunday and halts Monday at 11:30 AM EST and Forex halts at 1:00 PM EST
Sunday Feb 20th 2005
5:00 PM Eastern time
Resistance should appear near 10820 and the 10960 to 11010 region
Support should appear near 10757. Below that 10680 to 10630 offers support.
March SP500
Recommended open position Long at 1203.1
Resistance should appear near 1203.00 and 1217.50
Support should appear near 1197.50 to 1192.00 Below that Buyers should appear near 1180.5 and the 1169.00 to 1164.00 region BW Traders can buy at 1180.5 and risk a close under 1171.90 for three days in a row..
Nasdaq Composite
Support should appear near 2042 to 2034
Resistance should appear near 2088 to 2089
March Mini Nasdaq 100
Resistance is at 1529.00 to 1535.00
Support is at 1496.00 to 1484.00
March Mini Russell 2000
Recommended open position long at 635.5
Support is at 627.00 to 625.70 and 619.00 to 616.50
Resistance is at 633.70 to 635.00 and 641.7 to 643.00
June 10 Year T-Note
Resistance should appear near 110-22 and 111-07.
Support is at 110-07., a close under augurs for a test of 109-22 and 109-07
The Frenzied Forex Front
March Yen
Resistance should appear near 9526 to 9542
Support should appear near 9445 to 9429
Aggressive BW Traders should go short if a close under 9427 occurs
March Euro Currency (EC)
Recommended open position Short at 13027
Support should appear at 13040 and12890 , below that a test of the 12740 to 12680 region is likely.
Resistance should appear near 13100 and 13160
BW Traders should go short if a close under 12890 occurs
March Swiss Franc
Resistance should appear near 8484 to 8499
Support should appear near 8406 to 8391
March British Pound
Support should appear near 18650 to 18580
Resistance should appear near 19020 to 19090
March Canadian Dollar
Recommended open position short at 8117
Support should appear near 8119 and 8044 to 8029
Resistance is at 8134 and 8194 to 8223.
BW Traders should go short if a close under 8026 occurs.
March Aussie Dollar
Resistance should appear near 7939 to 7954.
Support should appear at 7864 to 7836.
Precious Metals
April Gold
Resistance
BW Traders can sell at 436.9 and risk a close over 439.5 for three days in a row
Support is at 424.9 to 423.8 and 418.3 to 416.3
Support
Resistance should appear near 14960 and the 15290 to 153.50 region
May Silver
Support should appear near 734.0 to 732.5 and 717 to 714.0
Resistance
is at 748.5 to 751.5 and 776.0 to 777.5
The Exciting Energies
April Crude Oil
Resistance should appear near 4915 to 4926 and 4973 to 4995
Support should appear near 4855 to 4845 and 4785 to 4775
April Unleaded Gas
Resistance should appear near 13770 to 13830 and 14150 to 14210
Support should appear near 13460 to 13340 and 13100 to 13040
April Heating Oil
Resistance should appear 13340 to 13460 and 13770 to 13830
Support should appear near 13100 to 13040 and the 12740 to 12680 region
The Lively Livestock
April Cattle
Support
should appear near 8502 to 8482 and 8407 to 8392.. Below that a trade towards
8318 to 8302 is likely.
Resistance is at 8562 to 8592 and 8667 to 8682
April Hogs
Recommended open position short at 7340
Support is should appear near 7257 to 7242 then 7172 to 7142 and the 7087 to 7072 region.
Resistance should appear near 7327 to 7342 and the 7417 to 7427 region
BW Traders should go short if a close under 7232 occurs
June Hogs
Support is at 7687 to 7672 and the 7602 to 7587 region
Resistance should appear near 7762 to 7777 and 7837 to 7862.
March Pork Bellies
Resistance should appear near 8562 to 8592 and the 8667 to 8682 region
Support is at 8407 to 8392 and the 8317 to 8302 region
The Grande’ Grains
May Soybeans
Support
is 550 1/2 to 541 3/4 and 543 to 541 3/4.
Resistance is at 557 3/4 and 564 to 565 1/4
May Soymeal
Support
should appear near 169.6 to 168.9 and 165.5 to 164.2
Resistance should appear near 173.1 to 173.8 and 177.4 to 178.0 .
May Soybean Oil
Recommended open position Long at 1997
Resistance should appear near 2034 to 2042 and the 2080 to 2089 region
Support should appear near 1996 to 1982 and 1953 to 1946
BW Traders should go long if a close over 2044 occurs
May Corn
Support should appear 204 1/4 to 203 1/2 and 199 3/4 to 198 1/4
Resistance is at 208 to 208 3/4 and 212 3/4 to 213 1/2.
May CBOT Wheat
Recommended open position long 309 1/4
Support should appear near 299 to 297 1/4 and 293 3/4 to 292 3/4
Resistance should appear near 304 1/2 and 309 1/4 to 310 1/2
The Satisfying Softs
May 'The Monster' Coffee
Recommended open position Long 4 at 11205 avg
Support is near 11920 and 11690 to 11640 below that buyers should appear near 11500
Resistance should appear near the 12320 to 12380 region.. Beyond that a test of 12680 to 12740 is likely
March Coffee
Support
is near 11690 to 11640 and 11500 below that buyers should appear near 11360 to 11300
Resistance should appear near 11920 to 12030 and the 12320 to 12380 region
May Cocoa
Recommended open position short at 1569
Support is at 1615 to 1609 and 1576 to 1569
Resistance is at 1642 to 1655 and 1689 to1696
May Sugar
Support should appear near and 912 to 907..
BW Traders can buy at 914 and risk a close under 905 for three days in a row.
Resistance should appear near 932 to 941
May Cotton
Recommended open position long at 4685
Support should appear near 4715 to 4595 and 4650 to 4635
Resistance should appear near 4775 to 4785 and the 4845 to 4855 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
Sunday Feb 20th 2005
6:00 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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BW Recommended Open
Positions
Long March SP500 1203.1
Long March Mini Nasdaq 1535.5
Long March Mini Russell 635.5
Short March EC 13027
Short March Canadian Dollars 8117
Short April Hogs 7340
Spread : Short 2 April Hogs 7255 / Long 2 July Hogs 7320
Long May Bean Oil 1997
Long May Wheat 309 1/4
Long 4 May Coffee 11205 avg
Short May Cocoa 1569
Long May Cotton 4685