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Morning Comments Wed January 12th 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
Tuesday January 11th 2005
5:00 PM Eastern time
The Sensational Stock and Bond Markets
Dow Jones Industrial Average
Resistance
should appear near 10580
and 10630 to 10680
Support should appear near 10525 to 10470
March SP500
Recommended open position long at 1203.00
Resistance should appear near 1192.00 and 1197.50
Support should appear near 1180.50 and the 1169.00 to 1164.00 region
BW traders can buy at 1169.30 and plan on risking a close under 1161.00 for three days in a row
BW Traders should go long if a close over 1197.70 occurs
Nasdaq Composite
Support should appear near 2042 to 2034
Resistance should appear near 2088 and 2126 to 2134.
March Mini Nasdaq 100
Recommended open position long at 1577
Resistance is at 1569 to 1576 and the 1609 to 1615 region
Support is at 1535 to 1529.
BW Traders should go long if a close over 1593 occurs
March Mini Russell 2000
Recommended open position Long at 620
Support
is at 611.3 to 610.1 and 595.7 to 594
Resistance is at 616.5 to 619.0 and 633.7 to 635
March 10 Year T-Note
Resistance should appear near 111-22 and 112-07.Beyond that sellers should appear near 112-22
Support is at 111-07 and 110-22 Below that support should appear near 110-07
The Frenzied Forex Front
March Yen
Recommended open position Short at 9610
Resistance should appear near 9737 then 9779 and 9821 to 9837
Support should appear near 9641 to 9626
March Euro Currency (EC)
Support should appear at 13100 to 13040 and 12890
Resistance should appear near 13220.and 13340 to 13460
March Swiss Franc
Resistance should appear near 8499 and the 8560 to 8589 region. .
Support should appear near 8406 to 8391 below that a test of 8314 to 8300 is likely.
March British Pound
Support
should appear near 18650
to18580
Resistance should appear near
18876 and 19020 to 19090
March Canadian Dollar
Recommended open position short at 8187
Support should appear near 8194
then 8134
to 8119 and 8044 to 8029
Resistance is at 8223 and 8300 to 8314
March Aussie Dollar
Support
should appear near 7513 to 7486 and 7428 to 7414
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 430.4 to 431.5
Support is at 418.3 to 416.3 and 412 to 411
March Copper
Support should appear near 13830 to13770
Resistance should appear near 14150 to 14210
March Silver
Support should appear near 659.5 to 657.5 and 643 to 641.5
Resistance
is at 665.5 to 667.5 and 674 to 675.5
The Exciting Energies
Feb Crude Oil
Resistance should appear near
4639 to 4650 and 4695 to 4717
Support should appear near
4514 to 4503 below that buyers should appear near 4446 to 4425 .
Feb Unleaded Gas
Resistance should appear near 12320 to 12380 and 12680 to 12740
Support should appear near 12030 to 11920 and 11690 to 11640.
Feb Heating Oil
Resistance should appear near 13040 to 13100 and
13340 13460
Support should appear near 12740 to 12680 and 12380 to 12320
The Lively Livestock
February Cattle
Support should appear near 9157 to 9142 and 8967 to 8932
Resistance is at 9317 to 9347 and 9427 to 9447
February Hogs
Recommended open position short at 7575
Support is 7687 to 7672 and 7602 to 7587
Resistance should appear near 7762 to 7777 and 7832 to7867
February Pork Bellies
Recommended open position short at 9622
Resistance should appear near 9737 then 9822 to 9837 and 9922 to
9937
Support is at 9642 to 9627 then 9542 to
9527and 9447 to 9427
The Grande’ Grains
March Corn
Recommended open position long at 209 1/4
Support should appear near 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
March Soybeans
Support is at
543 to 541 3/4 and 535 3/4 to 534 1/2
Resistance is at 549 1/4 to 550 1/2 and 555 1/4 to 557 3/4
March Soymeal
Support should appear near 164.2 and 161.5 to 160.9
Resistance should appear near 168.9 to 169.6 and 173.1 to 173.8
BW Traders can sell at 168.8 for a turn lower and risk a close over 174.1 for three days in row.
March Soybean Oil
Recommended open position short at 2002
Resistance should appear near 2034 to2042 and 2080 to 2089
Support should appear near
1996 to 1982 and 1953 to1946
March CBOT Wheat
Recommended open position long 304 3/4
Support should appear near 304 1/2 to 303 3/4 and 299 to 297 1/4
Resistance should appear near 314 3/4 to 315 3/4 and 219 1/2 to 321 1/4
BW Traders should go long if a close over 310 3/4 occurs
The Satisfying Softs
March ‘The Monster’ Coffee
Recommended open position long at 10350
Support is near 9540 to 9525 and 9345 to 9315 .
Resistance should appear near 9705 to 9735 and 9820 to 9835
BW Traders should go long if a close over 9740 occurs.
March Cocoa
Support
is at the1459 to 1453
Resistance is at 1489 to 1496
March Sugar
Support
should appear near 852 to 847 and 823 to 814
Resistance should appear near 877 to 882
March Cotton
Support should appear
near 4585 to 4570 and 4515 to 4505
Resistance should appear near 4695 to 4715 and 4775 to 4785
- 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 January 11th, 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.
FuturesCom Investment Publications © copyright 1996 – 2005 all rights reserved Terms
Current BW Recommended Open Positions
Long March Mini Nasdaq 1577
Long March Mini Russell 620
Short March Yen 9610
Short Feb Hogs 7575
Short 2 Feb / Long 2 June Hogs -195
Short Feb Bellies 9622
Long March Corn 209 1/4
Short March Bean Oil 2002
Long March Wheat 304 3/4
Long March Coffee 10350