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FuturesCom
Bi-Weekly Investment Outlook # 380
Sunday October 09, 2011 

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

 

     

 

 

 

 

 

 

 

 

 

 

 

 

"Observation. Experience, memory and mathematics--These are what a successful trader must depend on. He must not only observe accurately but remember at all times what he has observed. He cannot bet on the unreasonable or on the unexpected, however strong his personal convictions maybe about man's unreasonableness or however certain he may feel that the unexpected happens very frequently. He must bet always on probabilities--that is try to anticipate them. Years of practice at the game, of constant study, of always remembering, enables the trader to act when the unexpected happens as well as when the expected comes to pass. A man can have great mathematical ability and unusual power of accurate observation and yet fail in speculation unless he also possesses the experience and memory "- -Reminiscences of a Stock operator- 1929

Saturday October 08, 2011

11:00 PM South Florida Beach Time

Traders should stay tuned for flashes and updates for all markets
Stock Market action has been lousy, most averages act bad and the technicals stink… How bad do they stink?  The SP500 5 month close is now under the 21 month High Close, the last time that happened was February of 2008 and before that October 2000.  The NASDAQ is in better shape however the major international averages are in worse shape. Can this change? Yes it can, but it may take some time. Traders should expect a wide two way market occupied with Babble from Political leaders across the pond and here in the US to buy time and increase confidence.   



                          The Sensational Stock and Bond Markets
Dow Jones Industrial Average
 Support should appear near 10,680.00 to 10,580.00 region.  Below that buyers should appear near 10,360.00 to 10,320.00 and the 10,050.00 to 10,000.00 region
Resistance should appear near 11,300.00 to 11,360.00 and the 11,640.00 to 11,690.00 region    
DEc E-Mini sp500
 Resistance should appear near 1164.00 to 1169.00. A close over is friendly and augurs for a test of
1192.00 to 1203.00. Traders can sell at 1191.00 and Hold for lower prices, risk a close over 1203.50 for three days in a row. Beyond that sellers should appear near 1232.00 to 1238.00.
Support should appear near 1136.00 to 1130.00 a close under is negative and augurs for a test
1101.00 to 1096.00. Below that buyers should appear near 1068.00 to 1058.00 and the 1036.00 to 1032.00 region. Traders can buy at 1037 for a bounce and risk a close under 1029 for three days in a row.  Stay tuned for Flashes.

NAsdaq Composite
Resistance should appear near 2511.00 to 2519.00 and the 2552.00 to 2568.00 region.
Beyond that sellers should appear near 2612.00 to 2620.00 and cap a rally.
Support should appear near 2419.00 to 2411.00 and 2370.00 to 2354.00. Below that buyers should appear near the 2275.00 to 2267.00 region

DEc E-Mini NasdaQ 100
 Resistance should appear near 2219.00 to 2226.00 and the 2267.00 to 2275 region
Beyond that sellers should appear near 2315.00 to 2322.00     
Support should appear near 2185.00 to 2170.00, a close under is negative and augurs for a test of 2134 to 2126 and the 2089.00 to 2080 region. Below that buyers should appear near 2042 to 2034. Traders can buy at 2045 and hold for higher prices.


Dec E-Mini RUSSELL 2000
 Resistance should appear near 657.70 to 659.10 and the 674.30 to 675.50 region. A close over is friendly augurs for a test of 699.00 to 700.30 and the 707.40 to 708.80 region which should cap a rally.   
Support should appear near 650.90 to 648.30, a slip under is negative and augurs for a test of
 635.00 to 633.00. Below that buyers should appear near 611.30 to 610.10 and the 588.00 to 585.50 region, which should contain a decline.  

DEC 30 YR BOND
Resistance should appear near 142-07 and 143-21, beyond that sellers should appear near
144-21 and 145-07
Support should appear near 140-21 and 139-21, below that buyers should appear near 138-21 and 138-07.

DEC 10 yr Note
 Resistance should appear near 129-21 and 130-07. Beyond that sellers should appear near 131-21
Support should appear near 127-21 and 127-07, below that buyers should appear near 126-21 and 126-07 which should contain a decline.  

                            The Frenzied Forex Front
 dec dOLLAR iNDEX
 Resistance should appear near 7939 to 7954, a close over is friendly and augurs for a test of the 8029 to 8044 region        
Support should appear near 7864 to 7836 and should hold, failure there augurs for a test of 7777 to 7763      
 
dec JAPANESE Yen
 Resistance should appear near the 13040 to 13100 and the 13340 to 13460 region    
Traders can sell at 13075 and risk a close over 13100 for three days in a row.
Support should appear near 12890 and the 12740 to 12680 region                   

dec EURO currency
 Support should appear near 13340, a close under is negative and augurs for a test of 13100 to 10340.
Resistance should appear near 13460 and 13615, beyond that sellers should appear near 13770 to 13830 and cap a rally.   
 
 dec SWISS FRANC
 Resistance should appear near 10960 to 11010   
Support should appear near the 10680 to 10580 region      

DEC BRITISH POUND
Support should appear near the 15350 to 15290, a close under is negative and augurs for a test of
14960 to 14840
Resistance should appear near 15690 to 15760 region, Traders can sell at 15688 and hold for lower prices. Beyond that sellers should appear near 15915 and the 16090 to 16150 region.     

 DEC CanadIAN Dollar
 Resistance should appear near 9706 to 9737 then 9821 to 9837 and the 9921 to 9937 region
Traders can sell at 9817 and risk a close over 9947 for three days in a row.
Support should appear near  9542 to 9526 and the 9445 to 9429 region  

DEC AUSSIE DOLLAR
 Resistance should appear near 9706 to 9737 and 9821 to 9837 region
Support should appear near 9641 to 9625 and 9542 to 9526


 

 

 

                              The Precious Metals
 december gold
 Resistance should appear near 1642 to 1655 and 1689 to 1696       
Support is near 1615 to 1609 and 1535 to 1529     
DEC COPPER
 Resistance should appear near 34250 to 34430 and 36630 to 36820.  Traders can sell at 34200 and hold for lower prices.
Support should appear near 32130 to 31940, a close under is negative and augurs for a test of 29370 to 29280 and the 28830 to 28740 region.  Well Heeled traders can buy at 288.00 and risk a close under 27400 for three days in a row.  
     
DEC Silver 
 Resistance should appear near 3194 to 3123 and 3377 to 3386     
Support is at 2990 to 2972, below that buyers should appear near 2829 to 2820                                 

                                 The Exciting Energies  
December CRUDE Oil
Resistance should appear near 8484 to 8499 and the 8560 to 8589 region. Beyond that sellers should appear near 8762 to 8777 and cap a rally.   
Support should appear near 8300 and the 8134 to 8119 region. A close under is negative and augurs for a test of 7777 to 7763   

November HeaTING Oil
 Support should appear near 27750 to 27580 and the 26720 to 26630 region. 
Resistance should appear near 28740 to 28830 and 30360 to 30450 which should cap a rally.            
November UNLEADED Gas
 Support should appear at 24190 to 24110 and the 21850 to 21800 region   
Resistance should appear near 26630 to 26720 and the 27160 to 27240 region  

November NATURAL Gas
Support should appear at 3386 to 3377 and the 3213 to 3194 region       
Resistance should appear near 3553 to 3567 and 3734 to 3743                                                                   

                                THE GRANDE’ GRAINS
 JANUARY SOYBEANS
Support should appear near 1136 to 1130 and the 1101 to 1096 region
Traders can buy at 1102 for a bounce and risk a close under 1079 for three days in a row.     
Resistance should appear near 1192 to 1203 and the 1232 to 1238 region. Traders can sell at 1231 and hold for lower prices, initially plan on risking  a close over 1277 for three days in a row

DECEMBER SOYMEAL
Resistance should appear near 314.8 to 315.7 and 337.7 to 338.6 which should cap a rally.               
Support should appear near 299.0 to 297.2. Below that 282.90 to 282.00 should hold.    

DECEMBER BEAN OIL
Resistance should appear near 4973 to 4995 and the 5056 to 5067 region.         
Support should appear near 4856 to 4845 and the 4785 to 4775 region. 

DEC CORN
Resistance should appear near 616 ½ to 619, as close over is friendly and augurs for a test of
the 633 ¾ to 637 region, which should cap a rally.     
Support should appear 588 to 585 ½ and the 572 ¾ to 571 ¾ region. Below that a test of 555 ¾ to 557 ¾ is likely.
 
DECEMBER WHEAT
Resistance should appear near 633 ¾ to 635 and the 665 ¾ to 667 ¼ region   
Support should appear 603 ½ to 602 ¾ and the 588 to 585 ½ region    
Traders can buy Dec Wheat at mkt and initially risk a close under 594 ¾ for three days in a row.
Stay tuned for Flashes and updates.


 

                                              THE LIVELY LIVESTOCK

Dec Cattle
Support should appear near 12030 to 11920 and 11690 to 11640 which should hold.
Traders can buy at 11697 for a bounce and risk a close under 11637 for three days in a row    
Resistance should appear near 12320 to 12380 and the 12680 to 12740 region

DEC HOGS

Resistance should appear near 8932 to 8967 and the 9042 to 9057 region.
Beyond that 9137 to 9157 should cap a rally    
Support should appear near 8872 to 8852, a close under is negative and augurs for a test of
8777 to 8762 and the 8682 to 8667 region   

FEB HOGS

Support should appear near 9062 to 9042 and the 8872 to 8852 region. 
Resistance should appear near 9312 to 9347 and the 9427 to 9442 region, which should cap a rally.
Stay tuned for livestock flashes and updates                                           

 

                          The Satisfying Softs
 DEC COFFEE
Support should appear near 21340 to 21260 and the 19530 to 19460 region   
Resistance should appear near 23540 to 23700 and 24110 to 24190. 

DEC COCOA
Resistance should appear near 2716 to 2724 and 2758 to 2775           
Support should appear near 2620 to 2612 and the 2370 to 2354 region     

 

MARCH SUGAR
Resistance is at 2612 to 2620 and the 2716 to 2724 region      
Support should appear near 2370 to 2354 and the 2275 to 2267 region    

DEC COTTON
Resistance should appear near 10320 to 10360 and 10580 to 10680.
Support should appear 9737 to 9706 and the 9347 to 9316 region  
   
            --A Ship in Harbor is Safe...But that is not what ships are built for --
Happy Trading!   
Bill wil@futurescom.com
 Sunday October 9, 09:00 AM South Florida Beach Time