FuturesCom Investment Publications
Bi-Weekly Investment Outlook, Sunday July 1st, 2001
Socio Economics, Stock Index Futures: SP500 - Dow Jones Industrial Avg- Nasdaq
Bonds-Forex-Energy-Precious Metals-Livestock-Grain and Soft Commodity Future Markets
Bi-Weekly Investment Outlooks & Archives Index Flashes Morning Comments Special Reports
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“A lot of people approach risk as if it’s the enemy,
when it’s really fortunes accomplice.”
Sunday July 1, 2001
1:00 AM
Recommended Open Positions and a Fourth of July Holiday Schedule can be found at the end of the letter.
The Sensational Stock and Bond Markets
Sept SP500
Resistance is at 1232 to 1238.. Beyond that sellers should appear near 1253. However an extended trade or close over 1253 is friendly and augurs for a test of 1268 to 1274 and eventually the 1304 to 1310 region..
Support should appear near 1217.50 . Under that buyers should appear near 1203 to 1192. A close under 1192 is negative and augurs for a test of the 1169 to 1164 region …
Traders can buy at 1166.50 and risk a close under 1149..
Trade Accordingly and Stay Tuned for Updates
Dow Jones Industrial Avg
Resistance should appear near 10,580 to 10,630 and10,680, a close over is friendly and augurs for a an eventual test of 10,820 and the 10,960 to 11,010 region.
Support is at 10,470 and 10,415. Under that buyers should appear near the 10,360 to 10,320 region.. Below that buyers should appear near 10,255 and 10,185 and the
10,136 to 10,104 region .
Sept Bonds
Resistance should appear near 101-07 and 101-23 to 101-26 region. Above that resistance is at 102-17 then 103-07 and the 103-17 to 103-23 region.
Support is at 100-07 under that support should appear near 99-22 then 99-07 and the 98-22 to 98-17 region. Below that buyers should appear near 97-21 to 97-17 and 96-23 to 9617.
The Frenzied Forex Front
Support should appear near the 8044 to 8029 region, which should contain the decline for a bit.. Traders can buy at 8044 for a bounce . risk a close under 8029.. Under that support should appear near 7955 to 7935 and the 7865 to 7835 region..
Nearby Resistance should appear near 8119 to 8134 and 8207 to 8223. A close over 8223 is friendly and augurs for a test 8300 to 8314 Which should cap a rally for a bit.. Beyond that sellers should appear near 8351..and the 8391 to 8406 region.
Stay Tuned for Updates…
Nearby Support is at 8445 and the 8406 to 8392 region ..Below that a test of 8314 to 8300 and the 8223 to 8194 region is likely.. Traders can buy at 8223 and hold for higher prices.. Risk a close under 8194 for three days in a row.
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Nearby Resistance is at 8499 and the 8560 to 8589 region.. Traders can sell at 8530 and risk a close over 8589 for three days in a row. Beyond that sellers should appear near 8628 and the 8664 to 8683 region.
Trade Accordingly and stay tuned for Updates.
Sept Swiss Franc
Resistance should appear near 5609 then 5640 to 5653 .. Traders can sell at 5639 and risk a close over 5653 for three days in a row. Beyond that resistance is 5716 to 5729 then 5760. Beyond that seller should appear near the 5792 to 5805 region .
Support should appear near 5577 to 5553 and the 5504 to 5492 region where buyers should appear… A close under 5492 is negative and augurs for a test of the 5430 to 5418 region .Which should contain decline for a bit.. Traders can buy at 5431 and risk a close under 5418 for three days in a row.
Traders should go short if a close under 5553 occurs..
Stay tuned for Flashes and Updates .
Sept British Pound
Support should appear near 1.4042 then 1.3990 .. A slip under augurs for a test of 1.3830 to 1.3770.. Under that 1.3610 should contain a decline..
Resistance is at 1.4150 to 1.4210, beyond that sellers should appear near 1.4336 and 1.4372. Above that sellers should appear near 1.4530 to 1.4590.
Trade accordingly and stay tuned for flashes
Sept Canadian Dollar
Support should appear near 6591 to 6577 and 6543.. Traders can buy at 6584 and risk a close under 6543 for three days in a row.. Under that support should appear near 6509 to 6483 and the 6430 to 6417 region.
Nearby Resistance is at 6659 to 6672..Beyond that sellers should appear near 6741 to 6755 Traders can sell at 6740 for a turn lower and risk a close over 6755 for three days in a row Beyond that 6809 to 6836 should cap a rally…
Trade Accordingly and Stay tuned for FuturesCom's Forex Flashes
Precious Metals
August Gold
Nearby Support should appear near 269.4 under that buyers should appear near 267.2 to 266.3 and the 262 to 261.2 region.. Traders can buy at 267.2 and risk a close under 266.3 for three days in a row
Resistance is at 271.6 to 272.4 , however a close over 272.4 is friendly and augurs for a test of 275.8 to 277.4 and the 282 to 282.9 region. Beyond that sellers should appear near 287.4 to 288.
Trade Accordingly
Sept Copper
Support should appear near 7090 to 7075 .. Below that buyers should appear near
7005 to 6990. and the 6920 to 6905 region.. Traders can buy at 6920 and hold for higher prices..Risk a close under 6835 for three days in a row.
Resistance should appear near 7140 to 7170 and the 7245 to 7255 region.. A close over 7255 is friendly and augurs for a test of 7325 to 7345 and 7415 to 7430..
Sept Silver
Support should appear near 431.5 to 430.5 , under that 425 to 423.5 and the 405.5 to 404.5 region should contain the decline for a bit..
Resistance is at 437.5 to 438.5 , a close over 438.5 is friendly and augurs for a test of 442.5 to 445 and eventually 450.5 to 451.5. Above that a test of 469.5 to 471.5 is likely..
Trade Accordingly and stay tuned for Flashes
Exciting Energies
Aug Crude
Resistance is at 2716 to 2724 Beyond that sellers should appear near 2758 to 2775 and the 2820 to 2829 region . Traders can sell at 2758 and hold for lower prices.. Risk a close over 2829 for three days in a row. Beyond that Resistance is at 2972 to 2990
Support is at 2620 to 2612. and the 2568 to 2552 region .. a close under 2552 is negative and augurs for a test of 2519 to 2511 and eventually 2469 to 2461..
Aug Unleaded Gas
Support should appear near 7345 and the 7170 to 7140 region.. Below that a test of 7090 to 7075 is likely.. Under that buyers should appear near 7005 to 6990..under that 6920 to 6910 should contain the decline for a bit.. Traders can buy at 7005 and risk a close under 6905 for three days in a row..
Resistance is at 7485 to 7515 and the 7765 to 7780 region. Beyond that resistance should appear near 7835 to 7865. Traders can sell at 7835 and hold for lower prices.. Risk a close over 7955 for three days in a row..
Stay tuned for Updates ..
Aug Heating Oil
Resistance is at 7325 to 7345 and the 7415 to 7430 region. Beyond that sellers should appear near 7585 to 7605
Support is near 7090 to 7075, a close under is negative and augurs for a test of 6920 to 6905 and the 6835 to 6810 region. Under that support is at 6755 to 6740 Traders can buy at 6835 and hold for higher prices.. Risk a close under 6740 for three days in row. Below that
Buyers should appear near 6670 to 6655 and contain a decline..
Stay Tuned for Energy Updates
The Grand Grains
The all-important ‘USDA planting and stocks report’ was released Friday morning before
Chicago Grain markets opened for trading. As it turned out Soybeans closed up sharply.
Corn ended up basically unchanged and Wheat closed slightly higher.
The grain stocks report suggested U.S. soybean supplies are well below estimates. Planted acreage was also lower than expected. Both figures were below the low end of estimates..
The USDA Estimated 75.416 million acres of Soybean plantings, a record high, but down from the March intentions figure of 76.657 million. Analysts had pegged acreage at 75.55 million to 77.4 million acres. Friday's report suggests a 2001 U.S. soybean crop of 2.936 billion bushels, below USDA's current forecast of 2.985 billion but still a record high.
In its commentary on the acreage report, the U.S. Department of Agriculture said farmers in the
Delta had switched intentions to cotton from soybeans, and that excess rainfall prevented some plantings in the upper Midwest.
In addition the USDA estimate for June 1 Soybean stocks stood at 708 million bushels about
66 million bushels below year-ago levels.
Stay Tuned for Grain Market Flashes and Updates
Nearby Resistance is at the 477 1/2 to 478 1/2 region. Beyond that a test of 484 1/2 to
485 3/4 and eventually the 497 1/.2 to 499 1/2 region is likely.. Above that a trade towards the 512 3/4 to 514 region should not be ruled out … if it holds…
Support is at 471 3/4 to 469 1/2 under that buyers should appear near 465 to 463.
Traders can buy at 465 1/2 and hold for higher prices.. Below that support should appear near 458 1/2 to 457 and the 451 1/2 to 450 1/4 region. Under that buyers should appear near 444 3/4 to 442 1/2..
Aug Soy Meal
Resistance should appear near the 173.1 to 173.8 region. Beyond that a trade towards 177.4 to 178.0 and eventually the 180.8 to 182.2 region is likely..
Support is at 169.6 to 168.9 under that buyers should appear near 165.5 to 164.2 and the 161.5 to 160.9 region.
Aug Soybean Oil
Support is near 1529 and 1496 to 1484 under that support should appear near 1459 to 1453 and contain a decline…
Resistance should appear near 535 and the 1569 to 1576 region. Beyond that sellers should appear near 1609 to 1615. a close over 1615 is friendly and augurs for a test of 1642 to 1655
Sept Corn
Resistance should appear near 199 3/4 and 203 1/2 to 204 1/4 , a close over 204 1/2 augurs for a test of 208 to 208 3/4 then 212 3/4 to 213 1/2 and eventually the 217 to 218 1/2 region.
Support should appear near 195 3/4 to 194 3/4 and 191 to 190 3/4.. Under that buyers should appear near 182 1/2 to 180 3/4 /4 and should contain a decline...
Sept Wheat
Support should appear near.256 3/4 to 255 1/4 and the 247 to 246 1/4 region..
Resistance is at 266 1/4 to 267 1/2. A close over is friendly and augurs for a test of 275 1/2 to 277 1/2.. Beyond that sellers should appear near 282 to 282 3/4
Trade Accordingly
Dec Cotton
Nearby Support should appear near the 4250 to 4235 then 4185 to 4165 and the 4120 to 4110 region. Traders can buy at 4125 for a bounce , risk a close under 4045 for three days in a row
Nearby Resistance is at 4370 to 4380 and 4425 to 4445, an extended trade over indicate a test of 4505 to 4515 then 4635 to 4650 and the 4695 to 4715 region
Sept Coffee
Support is near 5805 to 5795.. Under that buyers should appear near 5730 to 5715 and the 5655 to 5640 region. . Below that 5575 to 5555 should contain a decline
Resistance should appear near 5880 and 5940 to 5955, a close over 5955 indicates a test of 6100 to 6115 . Above that resistance is near 6165 to 6190. Beyond that a trade towards the 6335 to 66350 region is likely..
Oct Sugar
Resistance should appear near 941. Beyond that a test of 968 to 972 is likey..Above that sellers should appear near 1000 to 1005 and should a cap a rally for a bit..
Support should appear near 923 and the 912 to 907 region.. Under that 896 offers support..
Below that buyers should appear near 882 to 877 ..Traders can buy at 912 and risk a close under 877 for three days in a row..
Sept Cocoa
Support is at 941 to 932 and 923, under that 912 to 907 should hold.. Traders can buy at 941 and risk a close under 907 for three days in a row. Under that support should appear near 896 and should contain a decline basis the close . Below that buyers should appear near 882 to 877.
Resistance should appear near 968 to 972, beyond that a test of the 1000 to 1005 region is likely.. Above that sellers should appear near 1032 to 1036 and Cap a rally for a bit..
A close over 1036 is friendly and augurs for a test of 1058 to 1058 and the 1096 to 1101 region..Traders can sell at 1096 and hold for lower prices.. Risk a close over 1136 for three days in a row.
August Cattle
Support is near 7342 to 7327 and 7257 to 7242. Below that support is at 7172 to 7142 and the 7087 to 7072 region.
Resistance is at 7487 to 7512 and the 7587 to 7602. Beyond that a test of 7672 to 7687 is likely…
The all-important ‘USDA Quarterly Pig Crop’ released Friday after the close was ‘deemed’ ‘Friendly to Bullish’ for Hogs and Bellies. Stay tuned for Livestock Updates and Flashes
Hog inventory on June 1 was pegged by the USDA at 100.0% of year-ago levels, compared with analysts' average forecast of 101.3% within a range of 100.0 to 102.0%.
Hogs kept for breeding were estimated at 99.0% of year ago levels, compared with the average analyst estimate of 100.8% within a range of 99.1 to 102.0%.
The USDA forecast of Hogs kept for marketing was 100.0% of year ago levels compared with the analyst average of 101.4% in a range of 100.0 to 102.1%.
August Hogs
Support is at 6835 to 6807 and the 6757 to 6742 region Traders can buy at 6757 and hold for higher prices..
Support should appear near 9347 to 9317 Traders can buy at 9347 and hold for higher prices.. Under that buyers should appear near 9237 then 9157 to 9137 and 9062 to 9042 .
Resistance is at 9627 to 9642 , beyond that a test of 9707 to 9737 is likely. .. A close over 9737 augurs for a test of 9822 to 9837 and the 9922 to 99377 region.. Beyond that a trade towards the 10102 to 10137 region is likely.
August Bellies
Support should appear near 9347 to 9317 Traders can buy at 9347 and hold for higher prices.. Under that buyers should appear near 9237 and the 9157 to 9137 region.. Below that support is at 9062 to 9042, under that 8872 to 8857 should contain a decline..
Resistance is at 9527 to 9542 and 9627 to 9642. Beyond that a test of the 9707 to 9737 region is likely.. A close over augurs for a test of 9822 to 9837 and the 9922 to 9937 region..
Stay tuned for Livestock Updates and Flashes
--A ship in Harbor is Safe.. But that's not what ships are built for --
Happy Trading !
Sunday July 1st, 2001
6:00 AM
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.
Archives: http://www.futurescom.com/premier.htm
Recommended Open Positions as of 6-29-2001
Long 5 Sept Dow 10740
Long 15 Sept SP500 1252.2
Long 10 Sept Coffee 6255 avg
Long 10 Sept Copper 7210
Long 5 August Soybeans 464
Long 10 Sept Wheat 273
Long 4 July Bellies 9190
Long 5 Sept Yen 8142
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Index Program
Archives: http://www.futurescom.com/index01.htm
Recommended Open position as of 06-29-2001
Long 4 Sept SP500 1245.80 avg
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Bi Weekly Investment Outlook(BW)
Archives: http://www.futurescom.com/bwparc.htm
Recommended Open positions as of 6-29-2001
Long 2 Sept Coffee 6245 avg
Long 2 Sept SP500 1251.1 avg
Long 2 Sept Silver 446
Long Sept Copper 7210
Long 2 Sept Wheat 268 1/4 avg
Long Aug Soy Meal 159.4
Long Sept Corn 200 1/2
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Morning Comments ( MC) Day Trades
Archives: http://www.futurescom.com/mcper01.html
Recommended Open positions as of 6-29-2000
NONE
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US schedule for Independence Day holiday
U.S. government offices and financial and commodity markets will be closed Wednesday, July 4, for the Independence Day holiday. Some markets also will close early Tuesday, July 3.
CBT: Chicago Board of Trade open outcry financial contracts will close at 1200 CT Tuesday. All other open outcry contracts will trade normal hours Tuesday. Electronic trading will close at its normal times Tuesday, while overnight trading will be closed. Electronic trading will reopen as its
normal evening times Wednesday.
CME: All Chicago Mercantile Exchange agricultural, currency and interest rate futures and options will close at 1200 CT Tuesday, with equity products closing at 1215 CT
GLOBEX2, currencies, interest rates and agricultural products will close at 1200 CT Tuesday, with equities closing at 1215 CT. These products will re-open on GLOBEX2 in the afternoon at their normal times. GLOBEX2 trading will halt at 1030 CT Wednesday and resume at 1730 CT.
NYMEX: New York Mercantile Exchange Access trading is closed Tuesday evening,
reopening at 1900 ET Wednesday.
NYSE: The New York Stock Exchange will close at 1300 ET Tuesday. End