Economic and Investment Trend Analysis - Socio Economics - Forex - Bonds - Dow Jones - Nasdaq - SP500
Precious Metals - Energy - Livestock - Grains - Softs
FuturesCom Investment Publications
Morning Comments, Thursday July 3rd 2003
Experienced Since 1979 - Serving Professional and Individual Traders World Wide since 1988
7690 Rockport Circle, Lake Worth, Florida 33467 Tel: 1-561-433-2995 http://www.futurescom.com
Wed July 2nd, 2003
1:00 PM eastern
The Holiday Schedule is at the end of today's letter
The ‘Frenzied’ Forex Front
Sept Yen
Support should appear near 8484 then 8445 and 8406 to 8391.
Resistance should appear near 8560 to 8589
Sept Euro Currency (EC)
Recommended Open Position Long 2 at 11610 avg
Support should appear at 11500 and 11430
Resistance is at 11570 and 11640
Sept Swiss Franc
Recommended open position long 2 at 7533 avg
Resistance should appear near 7487 to 7513.
Nearby Support should appear near 7428 to 7414.
Sept British Pound
Recommended Open Position Long 1.6552
Support should appear near 1.6550 to 1.6490 and 1.6420.
Resistance should appear near 1.6634 and 1.6720
Trade Accordingly
Sept Canadian Dollar
Recommended Open Position Long 7445
Support should appear near 7428 to 7414 and 7378
Resistance is at 7487 to 7513
Sept Aussie Dollar
Support is at 6755 and 6741 then 6673 to 6659
Resistance should appear near 6809 to 6836
The Sensational Stock and Bond Markets
Dow Jones Industrial Average
Resistance should appear near 9156 and 9237
Support should appear near 9060 to 9044
Sept SP500
Resistance is at should appear near 992.10 to 993.70 and the 1000.to 1005 region.
Support should appear near 983.70 to 982.10
BW Traders should go short if a close under 970.20 occurs.
Stay tuned for BW SP500 Updates and Index program trades , while day trades can occur at anytime
Nasdaq Composite
Nearby Resistance should appear near the 1689 to 1696 region.
Support should appear near 1655 to 1642
September Mini Nasdaq 100
Resistance is at 1268 to 1274
Support is at 1238 to 1232
September Ten Year T-Notes
Resistance should appear near 117-23 and 118-04
Support is at 117-04 then 116-23 and 116-07
August Gold
Recommended Open Position Long at 369.5
Support should appear at 350.3 to 349. and 344.3 to 342.5.
Resistance is at 355.3 to 356.3
Sept Copper
Recommended Open Position Short 7535
Support should appear near 7605 to 7585 and 7515 to 7485
Resistance should appear near 7675 to 7690 and 7765 to 7780.
Sept Silver
Support should appear near 458.5 to 457 and 451.5 to 450.0
Resistance is at 465
The Exciting Energies
August Crude Oil
Support should appear near 2990 to 2972 and 2937 to 2928
Resistance is at 3036 to 3045 and the 3092 to 3102 region.
Trade Accordingly..
August Unleaded Gas
Support should appear near 8775 to 8760 and 8685 to 8665.
Resistance should appear near 8855 to 8870 then 9045 to 9060 and the 9140 to 9155 region.
August Heating Oil
Resistance is at 7935 to 7955 and the 8025 to 8045 region.
Support should appear near 7775 to 7760 and 7605 to 7585.
The Lively Livestock
August Live Cattle
Support should appear near 7002 to 6992
Resistance is at 7072 to 7087 and 7142 to 7172
August Lean Hogs
Recommended Open position long at 6435
Support is at 6417 and 6352 to 6337
Resistance is at 6482 to 6512 , beyond that a test of 6577 to 6592 is likely.
BW Traders should go long if a close over 6597 occurs.
Recommended Open Position Long 9355
Support should appear near 9237 and the 9157 to 9137 region
Resistance is at 9317 to 9347 and 9427 to 9447.
Stay Tuned for Livestock Updates and Flashes
The Grande’ Grains
August Soybeans
Resistance is at 625 3/4 to 627
Support should appear near 616 1/2 then 611 1/4 to 610 1/4 and the 603 1/2 to 602 1/4 region.
BW Traders can buy at 604 3/4 and risk a close under 584 3/4 for three days in a row.
Aggressive BW Traders should go long if a close over 627 3/4 occurs
August Soymeal
Recommended Open Position Long 188.6
Support should appear near the 186.8 to 185.8 region.
Resistance is at 190.2 to 190.9
August Soybean Oil
Resistance should appear near 2267 to 2275 and 2315 to 2322
Support should appear near 2226 to 2219 and 2185 to 2170.
December Corn
Resistance should appear near 226 3/4 to 227 1/2
Support is at the 222 3/4 to 221 3/4 region..
Sept CBOT Wheat
Support should appear at near 310 1/4 to 309 1/4 and 304 1/2 to 303 3/4
Resistance is at 314 3/4 to 315 3/4 Beyond that sellers should appear near 319 1/2 to 321 1/4
The Satisfying Softs
September the ‘Monster’ Coffee
Recommended Open BW Position Long 6165
Support is near 6270 to 6255 and 6115 to 6105.
Resistance should appear near 6415 to 6430 and 6480 to 6510
Sept Cocoa
Support is at 1642 and 1615 to 1609
Resistance should appear near 1655 and 1689 to 1696..
October Sugar
Support should appear near 634 to 630
Resistance should appear near 656 to 661 .
December Cotton
Support should appear near 6115 to 6105 and 6035 to 6025
Resistance should appear near 6255 to 6270 and 6335 to 6350
A Ship in Harbor is Safe.. But that is not what ships are built for –
Happy Trading and Have a Safe and Happy Fourth !!!
Bill wil@futurescom.com
1-561-433-2995
Wed July 2nd, 2003
4:00 PM... South Florida Beach Time
THIS PUBLICATION 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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FuturesCom Investment Publications Copyright@1996-2003 all rights reserved
Holiday Early Closings and Schedule
ALL TIMES ARE EASTERN (to make things simple)
Thursday, July 3:
U.S. stock markets will close at 1 p.m.
Chicago Board of Trade financial contracts and futures close at 1 p.m.
Stock index contracts close at 1:15 p.m.
Chicago Mercantile Exchange currency and interest rate futures close at 1 p.m.
Stock Index futures close at 1:15 p.m. GLOBEX evening trading is closed.
The New York Mercantile Exchange will close at 1 p.m.
Friday, July 4:
All U.S markets are closed.