Economic and Investment Trend Analysis

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FuturesCom Investment Publications
Morning Comments Wed June 23rd 2004
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

Tuesday June 22nd, 2004
2:00 PM eastern time

Open BW Positions

The Frenzied Forex Front
Sept Yen
Resistance should appear near 9237 and 9316 to 9347..
Support should appear near 9156 to 9140 and 9060 to 9044

Sept Euro Currency (EC)
Support should appear at 12030 to 11975 and 11920
Resistance should appear near 12175. BW Traders can sell at 12172 and risk a close over 12262 for three days in a row. BW Traders should go if short if a close under 11917 occurs.

Sept Swiss Franc
Recommended Open Position Short at 2 at 7963 avg
Resistance should appear near 8029 to 80444 and 8119 to 8134
Support should appear near 7954 to 7939.

Sept British Pound
Support should appear near 17800 to 17740
Resistance should appear near 18150 to 18220

Sept Canadian Dollar
Recommended Open Position Short at 7327
Support should appear near 7342 to 7328 .
Resistance is at 7414 to 7428

Sept Aussie Dollar
Support should appear near 6755 to 6741..
Resistance should appear at 6809 to 6836 and 6906 to 6919

The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance should appear near 10470 and 10560 to 10630
Support should appear near 10360 to 10320

September SP500
Recommended Open position Long at 1131.20
Resistance should appear near 1136.00 and 1150.00 .
Support should appear near 1130 and 1115.50
BW Traders should go long if a close over 1133.20 occurs

Nasdaq Composite
Support should appear near 1953 to 1946.
Resistance should appear near 1996 and 2015

Sept Mini Nasdaq 100
Resistance is at 1484 to 1496
Support is at 1459 to 1453.

Sept 10 Year T-Note
Resistance should appear near 108-22 and 109-07
Support is at 108-07 and 107-22

Precious Metals

August Gold
Recommended Open Position Short 2 at 387.3 avg
Resistance should appear at 398.2 to 399.2 and 404.6 to 405.6
Support is at 392.9 to 390.9 and 386.7 to 385.8.

July Copper
Support should appear near 11500 and the 11360 to 11300 region.
Resistance should appear near 11640 to 11690 and 11920 to 12030

July Silver
Support should appear 573.5 to 571.5 and 565.5 to 564..
Resistance is at 594.t to 595.5 and 602.5 to 603.5

The Exciting Energies
August Crude Oil
Resistance should appear near 3909 to 3929..
Support should appear near 3806 to 3795 .

August Unleaded Gas
Resistance should appear near 12030 and 1320 to 12380
Support should appear near 11690 to 11640 and 11500

August Heating Oil
Resistance should appear near 10320 to 10360 and 10470
Support should appear near 10135 to 10105 and 9940 to 9920

The Lively Livestock

August Cattle
Support should appear near 8682 to 8667 and 8592 to 8562 .
Resistance is at 8762 to 8777 and 8857 to 8872

July Hogs
Recommended Open Position Short at 7762
Support is at 7692 to 7672 and 7602 to 7587
Resistance is at 7762 to 7777 and 7832 to 7867

August Hogs
Support is at 7512 to 7487 and 7432 to 7412
Resistance is at 7587 to 7602 and 7672 to 7692.

July Pork Bellies
Resistance should appear near 11637 to 11692
Support is at 11502 and 11362 to 11302

--- Traders should stay tuned for BW Updates and Flashes in the Livestock markets ---

The Grande’ Grains

July Corn
Support should appear near 267 1/4 to 266 3/4 and 262 to 261 1/4
Resistance is at 271 3/4 to 272 1/4 and 275 3/4 to 277 1/2 ..

July Soybeans
Resistance is at 904 1/2 to 906 3/4 and 914 to 915 3/4
BW Traders can sell at 903 1/4 and risk a close over 917 1/2 for three days in a row
Support should appear near 887 1/4 to 885 3/4 and 877 3/4 to 876 1/4

November Beans
Support is at 667 1/4 to 665 3/4 and 659 1/4 to 657 1/4
Resistance is at 680 3/4 to 683 3/4 and 690 3.4 to 691 /3

July Soymeal
Recommended Open Position Short at 287.3
Support should appear near 288.3 to 287.4 and 282.9 to 282.0.
Resistance should appear near 297.2 to 299.0 and 303.6 to 304.5
.
July Soybean Oil
Recommended Open Position Short at 2734
Resistance should appear near 2874 to 2883
Support should appear near 2775 to 2758

July CBOT Wheat
Support should appear near 342 1/2 and the 338 3/4 to 337 3/4 region. Below that 332 3/4to 331 3/4 should provide some support.
Resistance should appear near 355 1/4 to 356 1/4 and the 361 1/4 to 362 1/4. region. Beyond that sellers should appear near 366 1/4 to 368 1/4...BW Traders can sell at 365 3/4 and risk a close over 376 1/4 for three days in a row

The Satisfying Softs

September Coffee
Recommended Open Position Long at 8320
Support is near 7605 to 7585.and 6515 to 7485
Resistance should appear near 7675 to 7690 and 7760 to 7775
BW Traders should go long if a close over 7785 occurs

Sept Cocoa
Support is at 1334 and the 1310 to 1304 region.
Resistance is at 1377 to 1383 and the 1415 to 1421 region.. Beyond that sellers should appear near 1453 to 1459 BW Traders can sell at 1452 and risk a close over 1515 for three days in a row..

October Sugar
Support should appear near 739 to 735 and 712 to 704
Resistance should appear near 764 to 767 and 791 to 795
BW traders can sell at 789 and risk a close over 827 for three days in a row.

December Cotton
Recommended open position long at 5510
Support should appear near 5210 to 5200 and 5070 t0 5055
Resistance should appear near 5345 to 5355.

- 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
Tuesday June 22nd, 2004
3:30 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.

Recommended Open BW Positions
Short 2 September Swiss Francs 7963 avg
Short September Canadian Dollars 7327
Long Sept SP500 1131.20
Short 2 August Gold 387.3 avg
Long Sept Coffee 8320
Short July Hogs 7762
Short July Soymeal 287.3
Short July Soybean Oil 2734
Long Dec Cotton 5510

Terms