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FuturesCom
Bi-Weekly Investment Outlook # 364
 Sunday February 27, 2011

Equity Indices • Treasuries • Forex • Precious Metals • Energy • Grains • Livestock • Softs

 

"Among the hazards of speculation the happening of the unexpected -I might even say the

Unexpectable - ranks high. There are certain chances that the most prudent man is justified in taking - chances that he must take if he wishes to be more than a mercantile mollusk--"
-Reminiscences of a Stock operator-

Sunday, February 27, 2011
4:00 AM South Florida Beach Time

Index program traders, place a protective stops for Long: March Mini SP500 at 1315.00. March E-mini NASDAQ at 2337 Stay tuned for Flashes.

    

   The unemployment rate is at 9% and gasoline prices are above 3.50 gallon in many areas of the country, the effects in other parts of the world may get worse not better.  The US government now says the economy only grew by 2.8% during the fourth quarter of 2010 rather than the 3.2% pace they had reported earlier.  Meanwhile Equity markets have experienced some technical damage in recent days, considering the high level of uncertainty in the Middle East Traders should assume more choppy action is ahead and consider the Equity markets as a trading affair. Downside Support was hit, the markets have bounced and what the markets now do only the markets know. Investors not trading on margin should raise their protective stops and remain 100 % invested, over all we remain friendly. Our Job is to listen and the message is now cloudy.  We prefer to exit longs on a protective basis rather than assume nearby support levels will hold.  Buy Crude Oil and the products on dips to
re-establish long for a seasonal rally in March and April.  That Cat is now out of its bag.  
   On a larger Macro scale, consider moving assets away from anything close to the turmoil in the Mideast. This includes many regions of Europe and due to recent action by the Chinese Govt to suppress information China is under a cloud also. There is an old saying, ‘when in doubt get out’. On to the Nitty Gritty and Stay tuned for additional recommendations in addition to the ones presented in today’s letter.                                                         
                                       The Sensational Stock and bond Markets
Dow Jones Industrial Average
 Support should appear near 12,030.00 to 11960.00 region, where buyers should appear and contain a decline. Failure there is negative and augurs for a test of the 11,690.00 to 11,640.00 region.
Resistance should appear near 12,320.00 to 12,380.00 , beyond that an eventual test of the  12,680.00 to 12,740 region is likely

March e-Mini sp500
 Resistance should appear near the 1334.00 to 1346.00 and the 1377.00 to 1383.00 region   
Support should appear at near  1310.00 to 1304.00 and 1289.00. 
 
NAsdaq Composite
Resistance should appear near 2820.00 to 2829.00 and the 2874.00 to 2883 region.     
Support should appear near 2775.00 to 2758.00 and the 2724.00 to 2716.00 region.                   

March E-Mini NasdaQ 100
 Resistance should appear near 2354.00 to 2370.00 and 2411.00 to 2419.00
Support should appear near 2322.00 to 2315.00 and the 2275.00 to 2267.00 region.

March  E-Mini RUSSELL 2000
 Resistance should appear near 830.00 to 831.40 and the 839.1 to 840.60 region.
Support should appear near the 813.40 to 811.90 and the 804.40 to 802.90 region. Below that buyers should appear near 795.40 to 793.90. 

JUNE 30 YR BOND
Resistance should appear near 120-07 and 120-21 which should cap a rally. Beyond that a trade to 121-07 and 121-21 is likely.   
Support should appear near 118-21 and 118-07  then 117-21 and 117-07.


June 10 yr Note
 Support should appear near 117-21and 117-07. Below that buyers should appear near 116-21 and the 116-07 region.  
Resistance is at 119-07 and 119-21. Beyond that sellers should appear near 120-07 and 121-07                                                       

                            The Frenzied Forex Front
 march dOLLAR iNDEX
 Resistance should appear near 7763 to 7777 and 7834 to 7864     
Support should appear near 7689 to 7675 and 7601 to 7587  
 
march JAPANESE Yen
 Resistance should appear near 12320 to 12380 and the 12680 to 12740 region
Support should appear near 12030 to 11920 a close under is negative and augurs for a test of the 11690 to 11640 region.                  

march EURO currency
 Support should appear near 13460 to 13340.  
Resistance should appear near 13770 to 13830. Traders can sell at 13767 and risk a close over 13837 for three days in a row.

march SWISS FRANC
 Resistance should appear near 10960 to 11010
Support should appear near 10680 to 10580
Stay tuned for flashes

MARCH BRITISH POUND
Support should appear near 15760 to 15690 and 15350 to 15290      
Resistance should appear near the 16090 to 16150 and 16420 to 16550
MARCH CanadIAN Dollar
 Resistance should appear near 10320 to 10360 and the 10580 to 10630 region             
Support should appear near  10185 and 10136 to 10104    
MARCH AUSSIE DOLLAR
 Resistance should appear near 10320 to 10360 and 10470
Support should appear near 10037 to 10021 and 9937 to 9921        
                                    The Precious Metals
 April gold
 Resistance should appear near 1415 to 1421and the 1453.0 to 1559.0 region
Support is near 1383.0 to 1377.0 and  1346.0 to 1334.0   

MAY COPPER
 Resistance should appear near 45710 to 45820 and the 46390 to 46500 region    
Traders can sell at 450.3 and Hold for lower prices.
Support should appear near 44250 to 44460 and 42490 to 42380

MAY Silver 
 Support should appear near 3157 to 3148 and 3034 to 3036 a close under is negative and augurs for a test of the 2775 to 2758 region.                   
Resistance is at 3377 to 3386 and the 3493 to 3503 region. Beyond that sellers should appear near
3663 to 3682                                             

 
                                         The Exciting Energies  

Arpil Crude Oil
Resistance should appear near 9921 to 9937 and the 10104 to 10136 region. Beyond that a test of 10320 to 10360 is likely.   
Support should appear near 9737 to 9706, Traders can buy at 9741 and hold for higher prices.
Under that support should appear near 9641 to 9625 and the 9542 to 9526 region. .     

april HeaTING Oil
 Support should appear near 29370 to 29280 and the 28830 to 28740 region
Resistance should appear near 30920 to 31020 and 33770 to 33860.                     

april UNLEADED Gas
 Support should appear at 28830 to 28740 and the 28290 to 28200 region  
Resistance should appear near 29320 to 29370 and the 30360 to 30450 region. Beyond that a test of the 31480 to 31570 region is likely.                  

april NATURAL Gas
Resistance should appear at 3867 to 3858 and 3682 to 3663
Resistance should appear near 4110 to 4120 and 4249 to 4238

                               THE GRANDE’ GRAINS
 MAY SOYBEANS
Resistance should appear 1415 to 1421 and 1452 to 1459. Beyond that sellers should appear near 1484 to 1496. Traders who have ice water in their veins can sell at 1483 and risk a close over 1497 for three days in a row.        
Support should appear near 1361 ½. Below that buyers should appear near 1346 to 1334
and the 1274 to 1268

MAY SOYMEAL
Resistance should appear near 385.8 to 386.7 and the 390.9 to 392.9 region Beyond that sellers should appear near the 404.6 to 405.6 region       
Support should appear near 362.30 to 361.3 and 356.3 to 355.3, failure there augurs for a test of
 338.6 to 337.7   

MAY BEAN OIL
Resistance should appear near 5945 to 5957 and the 6023 to 6035 region. Beyond that sellers should appear near 6101 to 6113. Traders can sell at 6099 and risk a close over 6201 for three days in a row.        
Support should appear near 5729 to 5716 and the 5653 to 5640 region. Below that a test of 5577 to 5553 and the 5504 to 5492 region is likely     
Traders should go short if a close under 5715 occurs.

MAY CORN
Resistance should appear near 732 ¾ to 734 ½ and the 776 ¾ to 7777 region.
Beyond that sellers should appear near 802 ¾ to 804 ½        
Support should appear 691 ¾ to 690 ¾ and the 667 ¾ to 665 ¾ region.
A close under is negative and augurs for a test of 635 to 633 ¾.                

MAY WHEAT
Resistance should appear near 819 ½ to 822 ¼ and then 856 to 858 ¾. Beyond that sellers should appear near 885 ¾ to 887 ¼. Traders can sell at 884 ¾ and hold for lower prices.
Support should appear near 777 ¾ to 776 ¼ and the 760 ¼ to 759 ¾ region. Below that a test of
734 ¼ to 732 ¾ is likely.

                                                         THE LIVELY LIVESTOCK

APRIL CATTLE
Support should appear near 11010 to 10960, below that a test of 10680 to 10580 is likely.    
Resistance should appear near 11320 to 11360 and the 11640 to 11690 region     

APRIL HOGS

Resistance should appear near 9312 to 9347 and the 9427 to 9447 region.    
Support should appear near 8967 to 8937 region.  Below that buyers should appear near 8682 to 8667 and the 8592 to 8562 region.   

JUNE HOGS

Resistance should appear near 10317 to 10357 region.   Beyond that sellers should appear near 10470 and the 10588 to 10682 region,.
Support should appear near  10037 to 10022 and the 9937 to 9922 region. Below that a test of 9737 to 9707 region is likely.     Stay tuned for flashes in Livestock.                                                                                                    

                                     The Satisfying Softs
 MAY COFFEE
Support should appear near 26200 to 26120 and the 25680 to 25520 region   
Resistance should appear near 27580 to 27750 and the 30360 to 30450 region.   
 MAY COCOA
Resistance should appear near 3734 to 3743 and the 3982 to 3992 region     
Support should appear near 3386 to 3377 and 3270 to 3261    

MAY SUGAR
Resistance is at 2928 to 2937 and 3036 to 3045. Traders can sell at 3035 and hold for lower prices.  Beyond that sellers should appear near 3092 to 3102 region and cap a rally. 
Support should appear near 2775 to 2758 and the 2672 to 2663 region. Traders should go short if a close under 2817 occurs.

 
MAY COTTON
Resistance should appear near 19020 to 19090 and the 20340 to 20420 region  

Support should appear near the 17800 to 17740 and 16960 to 16890  region.


            --A Ship in Harbor is Safe...But that is not what ships are built for --
                          Stay Tuned for Flashes and Additional Recommendations and Reports .
Happy Trading!   
Bill wil@futurescom.com  

Sunday February 27, 2011 9:00 AM South Florida Beach Time