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Morning Comments Thursday March 24th 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 March 28th, 2005
3:00 PM Eastern time
Open BW Positions
The Sensational Stock and Bond Markets
Dow Jones Industrial Average
Resistance is near 10470 and 10580 to 10680
Support should appear near 10360 to 10320 should contain a decline .. However if it fails badly a test of
10185 is likely and should contain a decline for some time.
Recommended open position long at 1169.10
Resistance should appear near 1180.50 , a close over is friendly and augurs for a test of the 1192 to 1203 region.
Support should appear near the 1169 to 1164.00 region. Under that 1150 and the 1136 to 1130 region should bring buyers out from the woodwork .. Aggressive Traders should go long if a close over 1180.60 occurs
Nasdaq Composite
Support remains near 1982.. Below that buyers should appear near 1953 to 1946 and the 1909 to 1902 region.
Resistance should appear near 2034 to 2042 and the 2080.00 to 2089.00 region.
June Mini Nasdaq 100
Resistance should appear near 1484 to 1496 , a close over is friendly and augurs for a test of 1529 to 1535 and the 1569.00 to 1576.00 region.
Support is at 1459 to 1453 , a slip under augurs for a test of 1421 to 1415 .. Traders can buy at 1422 for a bounce and risk a close under 1412 for three days in a row. .. Below that 1383 to 1377 should hold.
Traders should go long if a close over 1498 occurs
June Mini Russell 2000
Support is at 611.3 to 610.1 and 603.5 to 602.3 which should contain a decline… Below that buyers should appear near 595.7 to 594.5 .. Traders can buy at 603.6 and risk a close under 593.4 for three days in a row..
Resistance is at 616.5 to 619. A close over is friendly and augurs for a test of 633.70 to 635.00 and 641.70 to 643.00
Traders should go long if a close over 619.7 occurs.
June 10 Year T-Note
Resistance should appear near 108-22 and 109-07.. Beyond that sellers should appear near 109-22 and 110-07 which should cap a rally..
Support remains at 108-07 and 107-22.. Below that a trade towards 107-07 region is likely.. Which should contain the decline.. . Under that 106-22 and 106-07 should hold.
The Frenzied Forex Front
June Yen
Resistance should appear near 9526 to 9542 and the 9625 to 9641 region. Beyond that a test of
9707 to 9737 is likely. A close over is friendly and augurs for a test of 9821 to 9837.. Traders can sell at
9819 and risk a close over 9942 for three days in a row.
Support should appear near 9445 to 9429 and the 9347 to 9316 region. .Traders can buy at 9349 and hold for higher prices… Below that support should appear near 9237 and the 9156 to 9140 region. ..
Traders should go long if a close over 9547 occurs.
Trade Accordingly and Stay tuned for Flashes
June Euro Currency (EC)
Support should appear at 12890 and 12750 to 12680.. A slip under augurs for a test of 125.30.
Resistance should appear near 13040 to 13100 and 13220 Traders can sell at 13037 and risk a close over
13142 for three days in a row,
Traders should go short if a close under 12965 occurs
June Swiss Franc
Resistance should appear near 8391 to 8406 , traders can sell at 8390 for a turn lower , risk a close over 8449 for three days in a row.. Beyond that sellers should appear near 8484 to 8499 and the 8560 to 8589 region.
Support should appear near 8314 to 8300 , a close under augurs for a test of 8223 to 8194 and eventually the 8134 to 8119 region. Aggressive Traders should go short if a close under 8299. .. Stay tuned for flashes and updates.
June British Pound
Support should appear near 18580 and the 18220 to 18080 region.
Resistance should appear near 18650 and 18836, beyond that 19020 to 19090 should cap a rally. .
June Canadian Dollar
Support should appear near 8223 to 8194 , a close under augurs for a test of 8134 to 8119 and eventually the 8044 to 8029 region.. Under that 7954 to 7937 should contain a decline
Resistance is at 8300 to 8314, traders should sell at 8300 and risk a close over 8409 for three days in a row.. Beyond that 8848 to 8499 should cap a rally.
Traders should go short if a close under 8193 occurs
June Aussie Dollar
Resistance should appear near 7675 to 7689 and the 7763 to 7777 region. Beyond that 7836 to 7834
bring out sellers and should cap a rally.
Support should appear at 7601 to 7587, below that a test of 7513 to 7486 and the 7342 to 7329 region is likely.
Traders should go short if a close under 75887 occurs.
Precious Metals
June Gold
Resistance should appear at 430.40 to 431.5 and 437 to 438.1. Traders can sell at 430.3 and risk a close over 440.4 for three days in a row. Beyond that 442.5 to 444.6 should cap a rally.
Support is at 424.9 to 423.8 , a close under augurs for a test of 418.3 to 416.3 .. Failure there is negative and indicates a test of 412 to 411 and most likely the 405.6 to 404.6 region.
Traders should go short if a close under 423.8 occurs.
May Copper
Recommended open position short at 14435
Support should appear near 142.1 to 141.5 and the 138.30 to 137.70.. a slip under augurs for a test of 13460 to 13340 .. Which should contain a decline .. Under that 13100 to 13040 offers support.
Resistance should appear near 14590 and the 14840 to 14960 region.. Beyond that sellers should appear near 15290 to 15350 .. Traders can sell at 152.70 and risk a close over 1.5830 for three days in a row
.
Traders should go short if a close under 145.30 occurs.
May Silver
Support should appear near 683.5 to 680.5 and the 667.5 to 665.5 region.. A close under is negative and augurs for a test of 651.0 to 648.5 and the 635 to 633.5 region .
732.5 to 734.5 and the 741.5 to 742.5 region Traders can sell at 732 for a turn lower and risk a close over
744 for three days in a row,
Aggressive Traders should go short if a close under 665.5 occurs.
The Exciting Energies
May Crude Oil
Resistance should appear near 5490 to 5504 and 5553 to 5577.. Beyond that 5640 to 5653 should cap a rally.
Support should appear near 5356 to 5344 and 5282 to 5259. A close under is negative and augurs for a test of
5137 to 5129
May Unleaded Gas
Resistance should appear 16420 to 16550 and the 168790 to 16960 region. Beyond that 17310 to 17380
should cap a rally . Traders can sell at 16880 and risk a close over 17380 for three days in row.
Support should appear near 16150 to 16090 and the 15760 to 15690 region.. A close under augurs for a test
of 15350 to 15290 . Below that buyers should appear near the 14960 to 14840 region.
Aggressive Traders should go short if a close under 16090 occurs.
Trade accordingly
May Heating Oil
Resistance should appear near 15350 then 15690 to 15760 and the 16090 to 16150 region Beyond that sellers should appear near 16420 to 16550, which should cap a rally .
Support should appear near 14960 to 14840 and 14210 to 14150.. A close under is negative and augurs for a test of 13830 to 13770 and most like the 13460 to 13340 region.
Traders should go short if a close under 14840 occurs.
The Lively Livestock
June Cattle
Support should appear near 8482 and 8407 to 8392.. A close under is negative and augurs for a test of 8317 to 8302 and eventually the 82222 to 8192 region. Below that buyer should appear near 8047 to 8027 .
Resistance is at 8560 to 8592 and the 8667 to 8682 region. Beyond that sellers should appear near 8762 to 8777 and the 8932 to 8967 region. Traders can sell at 8762 for a turn lower and risk a close over 8977 for three days in row
Traders should go short if a close under 8387 occurs
June Hogs
Support is at 7777 to 7762, a close under augurs for a test of 7692 to 7672 and eventually the 7602 to 7587 region. Below that buyers should appear near 7512 to 7487 and the 7342 to 7327 region.
Resistance should appear near 7837 to 7867 and the 7937 to 7957 region Beyond that 8027 to 8047 should cap a rally Traders can sell at 7932 and risk a close over 8067 for three days in a row. Above that sellers should appear near 8117 to 8227 and the 8302 to 8317 region… Traders should go short if a close under 7757 occurs.
May Pork Bellies
Recommended open position short at 9137
Resistance should appear near 9527 to 9542 and the 9707 to 9737 region. Beyond that sellers should appear near 9822 to 9837 and 9922 to 9937
Support is at 9447 to 9427 and 9347 to 9317 . A close under is negative and augurs for a test of 9157 to 9142
Failure there augurs for a test of 9062 to 9042 . .. trade accordingly and stay tuned for flashes and updates.
--Stay tuned for Updates and Flashes --
The Grande’ Grains
May Soybeans
Recommended open position long at 619 1/2
Support is 627 to 625 3/4 and the 619 to 616 ½ region. Below that buyers should appear near 611 ¼ to 610 ¼
and the 595 ¾ to 594 ½ region. Which should hold into early April
Resistance should appear near 633 ¾ to 635 , a close over is friendly and augurs for a test of 641 ¾ to 643 Beyond that sellers should appear near 657 ¾ to 659 ¼ and the 665 ¾ to 667 ¼ region
May Soymeal
Support should appear near 186.4 to 185.8 and the 182.2 to 180.8 region .. Below that buyers should appear near 173.8 to 173.1 and the 165.5 to 164.2 region.
Resistance should appear near 190.2 to 190.9 and 203.4 to 204.2 beyond that sellers should appear near 212.6 to 213.4 and the 217.0 to 218.5 region. Aggressive Traders can sell at 216.9 and risk a close over 222.9 for three days in row.
May Soybean Oil
Resistance should appear near the 2315 to 2322 and the 2354 to 2370 region .. beyond that sellers should appear near 2411 to 2419 and the 2461 to 2469 region . which cap a rally for a bit.
Support should appear near 2275 to 2267 and the 2226 to 2219 region . Traders can buy at 2276 for a turn higher and risk a close under 2170 for three days in a row. Under that buyers should appear near 2134 to 2126.
Traders should go long if a close over 2323 occurs.
May Corn
Support should appear near 208 ¾ to 208 and the 204 ¼ to 203 ½ region. Below that buyers should appear near 199 ¾ to 198 ¼ . and the 195 ¼ to 194 ¾ region
Resistance is at 212 ¾ to 213 ½ and the 217 to 218 1/2 region Beyond that sellers should appear near 221 ¾ to 222 ¾ and the 226 ¾ to 227 ½ region.
May CBOT Wheat
Resistance should appear near the 342 ½ to 344 ¼ and the 349 ¼ to 350 ¼ region. Beyond that sellers should appear near 355 ¼ to 356 ¼ , which should cap a rally. Traders can sell at 354 ¾ and risk a close over 362 ¾ for three days in a row, Above that sellers should appear near 373 ½ to 374 ¼ ..
Support should appear near 337 ¾ and the 332 ¾ to 331 ¾ region . A close under augurs for a test of 327 to 326 ¼ and eventually the 315 ¾ to 314 ¾ region.
Traders should go short if a close under 331 ¾ occurs.
Trade Accordingly –
The Satisfying Softs
May 'The Monster' Coffee
Recommended open position Long at 12600
Nearby Support should appear near 12030 to 11920 and the 11690 to 11640 region . Below that buyers should appear near 11360 to 11300 and contain a decline
Resistance should appear near the 12320 to 12380 , a close over is friendly and augurs for a test of 12680 to 12740 and the 13040 to 13100 region
Be long.
July 'The Monster' Coffee’
Recommended open position Long 2 at 12360
Nearby Support should appear near 12320 and the 12030 to 11920 region . Below that buyers should appear near 11690 to 11640 and contain a decline
Resistance should appear near 12680 to 12740 and the 13040 to 13100 region
May Cocoa
Support is at 1576 to 1569 and the 1535 to 1529 region. Below that buyers should appear near 1459 to 1453 and 1421 to 1415 Which should hold.
Resistance is at 1609 to 1615 and 1642 to 1655 Beyond that sellers should appear near 1689 to 1696 and 1731 to 1738, which should cap a rally.
July Sugar
Support should appear near 882 to 877 Below that buyers should appear near 852 to 847 and the 823 to 814 region , which should hold.
Resistance should appear near 907 to 912 and 932 to 941.. Beyond that a test of 968 to 972 is likely.
July Cotton
Recommended open position Long at 5305
Support should appear near the 5285 to 5260 region. Below that buyers should appear near 5140 to 5125 and the 5070 to 5055 region, which should contain a decline… Under that support should appear near 4925 to 4915.
Resistance should appear near 5345 to 5355 , a close over is friendly and augurs for a test of 5415 to 5430 and eventually the 5555 to 5575 region .. Beyond that a test of 5715 to 5730 is likely , where sellers should appear near and cap a rally for a bit..
Trade Accordingly.. .
- 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
4:20 PM South Florida Beach Time
BW Recommended Open Positions
Long June SP500 1169.10
Short May Copper 144.35
Short May Unleaded Gas 15970
Short June Hogs 7800 / Long August Hogs 7322
Short May Pork Bellies 9137
Long May Soybeans 619 1/2
Long May Coffee 12600
Long 2 July Coffee 12360
Long July Cotton 5305