Courage in a Speculator is merely confidence to act on the decision of his mind
Sunday, Dec 05, 1999
10:30 AM
The Sensational Stock and Bond Markets
Dec SP500
On the DownSide Nearby Support is at 1438.20 to 1437, an extended trade under augurs for an eventual test of 1421 and 1418 to 1416.80 /1415. A close under 1415.00 is negative and augurs for a test of 1407 and the 1402.1 to 1399 region. Under that support should appear near 1391.60. Below that support should appear near 1383 to 1380 which should stop a decline for a bit. Failure of 1380 to 1377 basis the close would indicate a test of 1363 to 1361.50.
Nearby Resistance is at 1445.40 to 1347.40 and 1451.70 to 1453 above that sellers should appear near the 1456 to 1459/1460.30 region. Above that Resistance is at 1470 to 1471.50 and 1478.30. Beyond that sellers should appear near 1484 to 1489 and Cap the rally...
Traders should Stay Tuned for SP500 Flashes
March SP500
On the DownSide Nearby Support is at 1456 and 1453 an extended trade or close under 1453 augurs for an eventual test of 1437 to 1433. A close under 1437 is negative and augurs for a test of 1421 and the 1418 to 1415 region. Under that support should appear near 1399 Below that support should appear near 1383 to 1380 which should stop a decline for a bit. Traders can buy at 1383 and hold for higher prices.
Nearby Resistance is at 1459. Above that Resistance is at 1471 and 1479..Traders can sell at 1471 and risk a close over 1479 for three days in a row. Beyond that sellers should appear near 1484 then 1490 to 1496.. a close over 1496 is friendly and augurs for a test of the 1512.5 and the 1529 to 1535 region where good sellers should appear and Cap the rally.
Traders should go short if a close under 1453 occurs
Dow Jones Industrial Avg.
Support is 11,255 and 11,212.. A close under 11,212 is negative and augurs for a test of 11,155 and eventually 11,087 under that support should appear near 11,010
to 10,975 and 10,960. A close under 10,960 would be negative and indicates a test of 10,820 and the 10,757 region.
Resistance should appear near 11,300 to 11,330 and 11,360 which should continue to provide good resistance and cap a rally for the time being. Beyond that sellers should
appear near 11,430 and 11,500. Beyond that sellers should appear near 11,640
to 11,690.
Cash NASDAQ
Support is at 3503 to 3493 under that support is at 3468 and the 3443 to 3425 region Below that a test of 3386 to 3377 is likely . A close under 3377 is negative and augurs for a test of 3328 to 3319.
Resistance is at 3553 to 3558 and 3563. Beyond that some sellers should appear near the 3588 and the 3613 to 3623 region which should cap the rally for a bit. Beyond that resistance is at 3643 and 3663 to 3682.
March Bonds
On The DownSide nearby support is at support is at 93-10 to 93-09 and 92-29 a close under 92-29 is negative and augurs an eventual test of 92-19 and eventually 92-10 to 92-09. below that support is at 91-21 to 91-16 Which should contain a decline.
On the Upside Nearby Resistance is at 93-22 to 93-28 and 94-06 to 94-09
Traders can sell at 94-06 and risk 94-10 for three days in a row . Above that resistance is at 94-23 and 95-09 and 95-22...
Traders should go short if a close under 92-29 occurs.
Trade accordingly...
On the Frenzied Forex Front
March Japanese-Yen
Nearby Support should appear at 9850 and 9837 to 9823 Traders can buy at 9837 and hold for higher prices.. Under that support should appear near 9780 and the 9737 to 9706 region where buyers should appear and stop a decline. Traders can buy at 9737 for a good turn higher and risk a close under 9702 for two days in a row .. Below that good buyers should appear near 9674 and 9641 to 9625
Nearby Resistance is at 9921 to 9937 and 9950 to 9965 .. However A close over 9937 is friendly and augurs for a test of 9981 and likely the 10021 to 10037 region. Beyond that resistance is at 10070 and the 10104 to 10120 region
Traders should go long is a close over 9937 occurs. ....Stay Tuned for Flashes
March Swiss
Support is at support is at 6350 to 6337 and should begin to hold, under that support is at 6302 below that 6270 to 6257 should contain a decline in the near term ..
Traders can buy at 6302 and risk a close under 6257 for three days in a row.
Under that buyers should appear near 6223 and 6190 to 6165...
Nearby Resistance is at 6386..A close over 6386 is friendly and augurs for a test of 6417 to 6430 and 6457.. Beyond that sellers should appear near 6482 to 6509.
Beyond that sellers should appear near the 6577 to 6591 region. Traders can sell at 6577 and hold for lower prices. Above that sellers should appear near 6626 and 6659 to 6673.
Traders Should go long if a close over 6386 occurs.
Stay tuned for Flashes...
March British Pound
Support should appear near 1.5998. Under that support at 1.5926 should bring out
buyers.. Traders can buy at 1.5928 for a good turn higher , risk a close under 1.5926 for two days in a row. Below that 1.5760 to 1.5690 should hold. Traders can buy at 1.5760 and hold for higher prices..
Resistance is at 1.6030 to 1.6090 to 1,6120 . A close over 1.6090 is friendly and augurs for a test of resistance at 1.6150 and the 1.6202 to 1.6226 region. Beyond that
resistance is at 1.6286 and the 1.6420 region .. Traders can sell at 1.6420 hold for lower prices. Initially Risk a close over 1.6486 for two days in a row.
Traders should go long if a close over 1.6090 occurs..
Trade Accordingly and stay tuned for Flashes..
March Canadian Dollar
Nearby Support is a 6755 to 6741, A close under 6741 is negative and augurs for a slip to 6707. Below that buyers should appear near 6673 to 6659 and 6626.
Traders can buy at 6659 for a bounce , risk a close under 6624 for tow days in a row.
Resistance is at 6783 and 6809 , Traders can sell at 6809 for a turn lower, risk a close over 6836 for two days in a row. .. Beyond that sellers should appear near 6872 to 6882. Above that sellers should appear near the 6906 to 6919 region ..
Traders should go short if a close under 6755 occurs.
Stay tuned for FuturesCom's Forex flashes
Precious Metals
Feb Gold
Nearby Support is at 282 to 279 Traders can buy at 279..8 and hold for higher prices. Below that support should appear near the 277.5 to 275.8 region Under that 272.4 to 271.6 should contain the decline.
Resistance is at 282.9 and 285.1 A close over 285.1 is friendly and augurs for a test of 287.4 to 288.3 and beyond towards the 292.8 to 293.7 region.
Traders should go long if a close over 285.1 occurs.
March Copper
Nearby Support is at 8120 and 8045 to 8030 the 7955 to 7930 region..traders can buy at 8035 and hold for higher prices .. Under that 7865 to 7835 should hold.
Nearby Resistance is at 8145 to 8170 and more importantly the 8195 to 8225 region..
A close over 8165 is friendly however a close over 8225 augurs for a touch of 8300 to 8315.. Above that Resistance should appear near 8355 and the 8485 to 8505 region.
Traders should go long if a close over 8165 occurs
March Silver
On the DownSide nearby support should appear near 512.5 and the 506.5 to 503.5
region .. Traders should buy at 513 and risk a close under 503.5 for three days in a row. Below that support is at 499 and the 492.5 to 491 region Aggressive Traders can buy at 492.5 and hold for higher prices.. Under that buyers should appear near the 486 to 484 region .
On the Upside. Nearby resistance is at 517 and the 520 to 521.5 region A close over 521.5 is friendly and indicates a test of 528 to 531 and eventually 535 to 541 if it holds. Beyond that a test of 555 is likely. Traders should go long if a close over 521.5 occurs.
Stay tuned for Flashes...
The Exciting Energies
Jan Crude
Resistance is at 2620 beyond that a test of 2642 a trade over 2642 is friendly and augurs for a test of the 2663 to 2672 region . A close over 2672 indicates a test of 2716 to 2724 and eventually the 2758 to 2772 region.. Beyond that 2820 to 2829 offers resistance and should cap a rally.. Traders can sell at 2819 and risk a close over 2829 for three days in a row.
Nearby Support is at 2568 to 2552..Traders can buy at 2569 and initially plan on risking a close under 2535 for three days in a row. Under that good buyers should appear near 2519 to 2511 and the 2469 to 2461 region. Below that 2370 to 2354 should hold ... Traders can buy at 2371 and hold for higher prices..
Trade Accordingly and Stay Tuned For Flashes..
Jan Unleaded Gas
Resistance should appear at 7114 then 7140 to 7170 and the 7242 to 7256 region
Beyond that a test of 7325 to 7345 is likely.. A close over 7345 is friendly and augurs for a test of 7420 and the 7486 to 7513 region..
Nearby Support is 7003 to 6990. Below that support is at 6836 to 6809 and near the 6755 to 6740 region which should contain a decline in the near future.. Traders can buy at 6755 and risk a close under 6740 for three days in a row. Below that buyers should be evident near the 6675 to 6655 region and near 6595 to 6575.
Jan Heating Oil
Resistance is at 6835 and 6873 then 6905 to 6920 Beyond that sellers should appear near the 6990 to 7005 region. A close over 7005 is friendly and augurs for a test of
7075 to 7090 and the 7140 to 7170 region..
Nearby Support is at 6591 to 6577.Below that Buyers should appear near the 6509 to 6483 region. Under that 6430 to 6415 should contain a decline in the near term..A close under 6417 augurs for a test of 6350 to 6337 where Traders can buy at 6350 for a turn higher , risk a close under 6270 for three days in a row.
Trade Accordingly. and Stay tuned for Flashes
The Grand Grains
Jan Beans
Support is at 471 1/2 to 469 1/2.. Under that buyers should appear near 4467 1/2 and the 465 to 463 3/4 region below that support should appear near 458 1/2 to 457 and the 451 1/2 to 450 1/4 area..
Nearby Resistance is at 477 1/2 to 478 3/4 A close over 478 3/4 is friendly and augurs for a test of 484 1/2 to 486 ..Beyond that resistance is at 491 1/2 to 492 3/4 above that good sellers should appear near the 497 1/4 to 499 1/2 region
Traders should go long if a close over 478 3/4 occurs.
March Soybean Meal
Support is near the 145.3 and 144.6 under that support is at 142.1 to 141.5
Traders can buy at 142.6 and hold for higher prices.. Under that 138.3 to 137.7
should hold.
Resistance is at 148.4 to 149.6 and 150.8 Beyond that a test of 152.9 to 153.50
is likely. A close over 153.50 is friendly and augurs for a test of 156.9 to 157.6
March SoyBean Oil
Resistance is at 1689 to 1696 region. Above that resistance is at 1716 and 1731 to 1738 and 1774 to 1780..
Support is at 1642 and 1628 under that support should appear near the 1615 to 1609 region and 1591.. Under that buyers should appear near 1576 to 1569 and 1552.
March Wheat
Resistance is at 244 1/2 and 250 1/2. A close over 250 3/4 is friendly and indicates a test of 256 1/2. Beyond that resistance is at 262 1/2.. Above that Sellers should appear
near 269 3/4.
Support is at 241 1/4 and 237 to 235 below that support is at 232 to 231 1/4 and the 227 1/2 to 226 1/2 region which should contain a decline for a bit.
Traders should go long if a close over 250 1/2 occurs
March Corn
Resistance is at 203 1/2 to 204 1/4, a close over 204 1/4 is friendly and indicates a test of 208 to 208 3/4
Support is at 199 3/4 to 198 1/2 under that 195 1/4 to 194 3/4 should hold and contain the decline for a bit.
Trade Accordingly.
The Satisfying Softs
March Cotton
On the DownSide Support is at 4997 to 4973 and 4926 to 4915. Traders can Buy at 4926 and risk a close under 4845 for Three days in a row. Below that support is at 4786 to 4775.
Resistance is at 5036 to 5070 .A close over 5067 is friendly and indicates a test of 5127 to 5139 and eventually 5200 to 5211. Beyond that sellers should appear near 5259 to 5282 then 5344 to 5356. Where Traders can go short at 5344 and risk a close over 5456 for three days in a row.
Traders should go long if a close over 5067 occurs.
March Sugar
Support is at 593 and the 586 to 582 region .. Traders can buy a t593 and risk a close under 582 for three days in a row. Below that support is at 562 to 559 and 538 to 534 which should contain a decline. Traders can buy at 538, for a turn higher and risk a close under 534 for two days in a row.
Resistance is at 601 to 609 , a close over 609 is friendly and augurs for a test of 630 to 634 Beyond that sellers should appear near 656 to 661. Above that good sellers should appear near 682 to 686 and 704. Traders should go long if a close over 601 occurs..
Trade Accordingly
March 'the Monster' Coffee
Traders must be aware trading coffee is not for widows and orphans and only Traders who sleep on a bed of nails so to s[peak should be trading coffee..
On the DownSide, support is at 142.10 to 141.5 .. Under that support is at 138.3 to 137.7 Traders can buy at 138.30 and hold for higher prices..Stay tuned for a stop..
Under that support is at 134.6 to 133.40 and 131.10 to 130.40 Which should hold and contain a decline for a bit Under that 127.40 to 126.80 offers support Traders can buy at 126.80 hold for higher prices.. Below that buyers should appear near the 123.80 to 123.20
On the Upside, Resistance is at 145.3 to 145.9, a close over 145.90 is friendly and augurs for a test of 148.4 to 149.6 and the 152.90 to 153.5 region.. Beyond that resistance is at 156.9 to 157.60 .. a close over 1.570 would indicates a test of 160.90
to 161.50 and the 164.20 to 1.6550 region.
Trade Accordingly and Stay Tuned for Flashes
March Cocoa
Resistance is at 852.. A close over 852 is friendly and augurs for a test of the 877 to 882 region. An extended trade or close over 882 indicates a test of the 907 to 912
region. Beyond that good sellers should appear near 932 to 941. Traders can sell at 932 and risk a close over 942 for two days in a row.
Support is at 833 under that 823 to 814 offers support .. Below that buyers should appear near 795 to 791 and the 767 to 763 region. Traders can buy at 776 and risk a close under 763 for three days in a row. Below that support is at 739 to 735..
Traders should go long if a close over 852 occurs.
Stay Tuned for Flashes.
The Lively Livestock
Feb. Cattle
Support is at 6922 to 6907 and 6877 to 6852 ..Traders can buy a 6922 and risk a close under 6837 for two days in a row under that support should appear near 6807 and 6782 region where Aggressive Traders can buy at 6787 and risk a close under 6727 for three days in a row.
Resistance is at 6987 and the 7002 to 7017 region.. A close over 7017 is friendly and augurs for a test of 7077 to 7087 and 7127 to 7142 .. Beyond that resistance is at 7167 Traders can sell at 7167 and risk a close over 7172 for three days in a row.
Above that sellers should appear near 7242 to 7257.
Dec. Hogs
Support should appear near 5252 to 5230 and 5212 to 5200 . Under that buyers should appear near the 5137 to 5122 region where Traders can buy at 5137 for a bounce and risk a close under 5037 for two days in a row.
Nearby Resistance should appear near 5327 to 5342 and the 5417 to 5432 and 5452 beyond that a test 5492 to 5507 region is likely.
Traders should go long if a close over 5142 occurs..
Feb Hogs
Support should appear near 5652 to 5642 Traders can buy at 5652 for a turn higher risk a close under 5640 for three days in a row. Below that support is at 5577 to 5552 and 5507 to 5492.. Under that buyers should appear near 5432 to 5417.. Traders can buy at 5432 and hold for higher prices.
Nearby Resistance should appear near 5727 and 5752 .A close over 5752 is friendly and indicates a test of 5802 and eventually the 5857 to 5882 region. Beyond that sellers should appear near 5945 to 5957 and the 6022 to 6037 region..
Feb Bellies
Resistance should appear near 7692, a close over 7692 is friendly and augurs for a test of 7762 to 7777, beyond that a test of the 7837 and the 8027 to 8047 region is likely.. a close over 8047 is bullish and indicates and eventual test of 8192 to 8222 and 8482 to 8502.
Support is at 7602 to 7587 Traders can buy at 7602 and hold for higher prices...
Below that support is at 7517 to 7487 and 7427 to 7417 and 7342 to 7327.. Traders who have ice water running through their veins can buy at 7342 and hold for higher prices.. Under that Buyers should appear near the 7252 to 7242 and the 7170 to 7142 regions and stop a decline.
Traders should go long if a close over 7692 occurs.
Stay Tuned For Flashes in the Pork complex..
A ship in Harbor is Safe.. But that's not what ships are built for.
Happy Trading
Bill
Dec. 05 1999
5:50 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.