FuturesCom Investment Publications
Dedicated to Excellence in Analysis of Futures Markets
Bi-Weekly Investment Outlook (BW) Sunday Aug 6th, 2000
Bonds.. SP500.. Forex.. Precious Metals.. Energies..Grains.. Livestock.. Softs
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“There is only one side of the market and it is not the bull side or the bear side, but the right side." --Jesse Livermore—
Sunday August 06, 2000
5:30 AM
The Sensational Stock and Bond Markets
Sept SP500
Nearby Resistance is at 1478.60 then 1484 to1490.. Beyond that sellers should appear near 1496 . A close over 1496 is friendly and augurs for a test of 1511 to 1512.5
Support is at 1471.5 and 1464.20, Traders can buy at 1464.20 and risk a close under 1453 for three days in a row. Below that buyers should appear near 1459 to 1456. Under that buyers should appear near the 1453 to 1449.40 region…An extended failure under 1453 augurs for a test of 1437 and the1421 to 1418 region.
Stay Tuned for Updates
Trade Accordingly..
Sept mini - NASDAQ 100
Nearby Support is at 3623 to 3613 and 3563 to 3553.. A close under 3553 augurs for a test of the 3490 and 3453 to 32425 region Traders can buy at 3443 for a good bounce and hold for higher prices..
Resistance remains near the 3663 to 3682 and the 3709. A close over 3709 is friendly and augurs for another test of 3736 to 3743 and beyond towards the 3795 to 3806 region . Beyond that resistance should appear near 3838 and the 3858 to 3868 region.
Dow Jones Industrial Avg.
Resistance should appear near 10,820. A close over 10,830 is friendly and augurs for an eventual test of 10,880 and more likely the 10,960 to 10,985 region
Support should appear near 10,757 and 10,680. Under that support should appear near 10,630 and the 10,580 region. Which should contain a decline basis the close.
Cash NASDAQ
Resistance is 3795 to 3806 and 3858 to 3867.. A close over 3867 is friendly and augurs for a test of 3909 to 3929 and beyond towards the 3982 to 3992 region . Above that resistance is near 4046 to 4056.
Support should appear near 3743 to 3736. A close under 3736 augurs for a test of 3682 to 3663 and the 3623 to 3613 region which should contain a decline for a bit. Below that buyers should appear near 3563 to 3553 and 3503 to 3493 .
Trade Accordingly
Sept Bonds
Support should appear near 99-08 to 99-04 and 98-28..Traders can buy at 98-28 for a turn higher, risk a close under 98-11 for 2 days in a row. Under that support should appear near 98-07 and contain a decline. Below that Buyers should appear at 97-29 and the 97-18 region.
Resistance is at 99-29. Beyond that Sellers should appear near 100-04 and 100-16 then 100-26. Above that 101-07 to 101-12 should cap a rally..
The Frenzied Forex Front
Support should appear near 9264 then 9235. Traders can buy at 9237 and hold for higher prices..Below that support should appear near the 926 to 9190 region.. Under that 9156 to 9140 should contain a decline.
Resistance remains near 9311bto 9316 and the 9331 to 9347 region..A close over 9347 is friendly and augurs for a test of 9364 to 9388 then 9429 to 9445 . Beyond that sellers should appear near 9487 region.
Traders should go long if a close over 9347 occurs.
Trade Accordingly and Stay Tuned for Flashes and Updates
Resistance should appear near 5905 then 5040 to 5957 and 6068 .. Beyond that sellers should appear near 6101 to 6112 ..Above that resistance should appear near 6165 to 6190.
Support should appear near the 5880 to 5855 region. A close under 5855 augurs for a test of 5805 to 5792 , traders can buy at 5797 and hold for higher prices. Under that support is at 5729 to 5716.
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Stay tuned for Flashes...
Sept British Pound
Support should appear near the 1.4960 to 1.4900 region below that support is at 1.4840 and 1.4714.
Resistance is at 1.5058 and 1.5126 then 1.5212 and the 1.5290 to 1.5350 region.
Trade Accordingly and stay tuned for Flashes.
Sept Canadian Dollar
Nearby Support is at 6707. Under that buyers should appear near 6673 to 6659
A close under 6659 is negative and augurs for a test of 6622 then 6592 to 6577
Resistance is at 6741 to 6755. Traders can sell at 6741 and hold for lower prices..
Beyond that sellers should appear near 6782 and the 6809 to 6823 region.
Trade Accordingly and Stay tuned for FuturesCom's Forex flashes
Precious Metals
Dec Gold
Support is at 277.5 to 275.8 and 272.4 to 271.6..
Resistance is at 280.1 then 282. top 282.8 beyond that sellers should appear near 285.2.
Sept Copper
Support is at 8685 to 8660 and 8585 to 8560 under that support is at 8505 to 8485. Below that support is at 8405 to 8390. Under that buyers should appear near 8315 to 8300.
Resistance should appear near 8760 to 8775 and the 8855 to 8870. Traders can sell at 8855 and hold for lower prices, risk a close over 8965 for three days in a row
Above that resistance is at 8935 to 8965 and the 9040 to 9065 region.
Sept Silver
Support should appear at near 492.5 to 491.5, which should contain a decline basis the close for, a bit. Below that buyers should appear near 486 to 484.5. Below that support is at 478.5 to 477.5
Resistance is at 497 to 499.5 A close over 499.5 is friendly and augurs for a test of 305.5 to 506.5 then 512.5 to 514.5 and eventually the 517 to 520.5 region…if it holds
Stay tuned for Flashes
The Exciting Energies
Sept Crude
Resistance is at 3012 and the 3036 to 3045 region. Above that resistance is at
3062 then 3092 to 3102 and the 3148 to 3157 region. Traders can sell at 3148 and hold for lower prices.. Beyond that sellers should appear near 3194 to 3213.
Traders should go short if a close under 2972 occurs.
Sept Unleaded Gas
Support should appear near 8685 to 8665 then 8590 to 8565 and the 8495 to 8480 region. Aggressive traders can buy at 8495 and hold for higher prices. Risk a close under 8390 for three days in a row. Under that buyers should appear near 8410 to 8390 and the 8315 to 8300 region..
Resistance should appear near 8760 to 8780 Above that resistance should appear near 8855 to 8870 and the 8935 to 8965 region. Beyond that sellers should appear near 9035 to 9060.. Traders can sell at 9030, initially plan on risking a close over 9235 for three days in a row,.
Sept Heating Oil
Resistance is at 8195 to 8225 then 8300 at 8315 and 8345.. A close over 8315 augurs for a test of 8390 to 8405 . Above that sellers should appear near 8480 to 8499 and the 8560 to 8590 region. Traders can sell at 8560 and hold for lower prices, risk a close over 8690 for three days in a row..
Support is near 8135 to 8115 , under that support is at 8045 to 8029 .Which should contain a decline over the near term. A close under 8029 is negative and augurs for a test of 7955 to 7935 and the 7865 to 7835 region.. Below that Support should appear near 7780 to 7765.Traders can buy at 7780 and hold for higher prices, risk a close under 7675 for three days in a row.
Stay Tuned for Energy Updates
The Grand Grains
Support should appear near 447 1/2 to 444 3/4. Below that support should appear near
438 to 437.
Resistance is at 450 1/2 to 4511/2 and the 457 to 458 1/2 region. A close over
458 1/2 is Friendly and augurs for a test of 463 to 465 and beyond towards 469 1/2 to 471 1/2.
Traders should go long if a close over 458 3/4 occurs.
Dec Soybean Meal
Support should appear near 145.9 to 145.3 and 142.1 to 141.5.
Under that buyer should appear near 138.3 to 137.7
Resistance is at 148.6 to 149.4 and 151.5 a close over 151.5 is friendly and augurs for a test of 152.9 to 153.5. Beyond that resistance is at 156.9 to 157.6
Dec SoyBean Oil
Support is near the 1576 to 1569 region. Under that 1525 to 1529 should contain
a decline.
Resistance should appear near 1609 to 1615 and 1628 then 1642 to 1655
Dec Corn
Resistance should appear near 194 3/4 to 195 1/2 and 198 1/4 to 199 3/ 4.
Support should appear 186 1/2 to 185 1/4 and 182 1/4 to 180 3/4.
Support is at 251 to 249 1/2 and the 247 to 246 region. Below that buyers should appear near 237 to 235.. Traders can buy at 237 1/2 and hold for higher prices.
Resistance is at 258 3/4 then 261 1/2 to 262 and 266 1/2 to 267 1/2
Trade Accordingly and Stay Tuned for Updates in the Grain Markets
Dec Cotton
Support should appear near 6035 to 6020 and the 5960 to 5945 region. .Under that 5880 to 5855 should hold.
Resistance is at 6101 to 6113 then 6165 to 6190. Beyond that resistance is at 6255 to 6270. A close over 6270 is friendly and augurs for a test of 6335 to 6350 and eventually the 6555 to 6670 region.
Trade Accordingly
Sept Coffee
Support is at 8500 to 8480 and the 8410 to 8390 region. Below that support should appear near the 8315 to 8300 region Under that buyers should appear near 8225 to 8195 then 8045 to 8025.
Resistance should appear near 8665 to 8686 and 8760 to 8780. A close over 8780 is friendly and augurs for a test of 8855 to 8880 and the 8935 to 8965 region. Above that a test of the 9045 to 9060 region is likely.
Traders should go long if a close over 8685 occurs.
Oct Sugar
Resistance is at 1096 to 1101. Beyond that Resistance should appear near 1130 to 1136 and the 1164 to 1169 region.
Support is at 1068 to 1063 then 1058. Under that buyers should appear near 1036 to 1032 and the 1005 to 1000 region
Trade Accordingly
Sept Cocoa
Resistance is at 791 top 795 then 814 to 823 and 835.
Support is at 767 to 763 then 738 to 735 under that buyers should appear near the
712 to 704 region.
Oct Cattle
Support is near 6887 then 6837 to 6812. Traders can buy at 6837 and hold for higher prices under that support is at 6787 and the 6752 to 6737 region.
Resistance is at 6922 then 6957 and 6992 to 7007. Beyond that resistance should appear near 7072 to 7087 and the 7142 to 7172 region , traders can sell at 7137 and hold for lower prices.
Support should appear near 5637 then 5602, however a close under 5637 augurs for a test of 5577 to 5552.. Traders can buy at 5577 and hold for higher prices.. Initially plan on risking a close under 5552 for three days in a row.. Below that buyers should appear near 5507 to 5492.. Under that 5432 to 5417 should contain any decline for a bit.
Resistance should appear near 5717 to 5732 then 5792 to 5802. A close over 5805 is friendly and augurs for a test of 5852 to 5882. Beyond that sellers should appear near
5842 to 5957.. Traders can sell at 5942 and hold for lower prices..
Support is at 8407 to 8392 and the 8317 to 8302 region. Below that a test of 8227 to 8197 is likely Under that buyers should appear near the 8132 to 8112 region. Below that support is at 8047 to 8027. Under that 7867 to 7837 should contain a decline.
Resistance is at 8482 to 8502 and 8557 to 8587. Where sellers should appear, beyond that resistance is at 8667 to 8682. Above that sellers should appear near the 8762 to 8777 region. Beyond that 8857 to 8872 should cap a rally..
Stay tuned for Livestock Updates.
A ship in Harbor is Safe.. But that's not what ships are built for.
Happy Trading
Sunday August 6th, 2000
1:30 PM
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 IS 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.
Copyright @ 2000 FuturesCom investment Publications All Rights Reserved
FuturesCom is Not Responsible for electronic or transmission errors.
FuturesCom Investment Publications
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BW Recommended Open Positions as of 8-06-2000
Long Dec Bean Oil 1629
Long Dec Gold 285.1
Long 2 Sept Silver 498.5
MC recommended Open Positions : NONE
Index Recommended Open Positions : NONE