Bi-Weekly Investment Outlook II
May 16, 1998

June Yen should find early support at 7459 and 7428. Below that support is near 7414 and 7342. Go long for a go long for a good 2-3 day bounce at 7352. Risk a close under 7328 for two days in a row. Resistance should first appear at 7487 and 7513. Good resistance should appear near 7559. A close early this week over 7562 indicates a rally to 7685. Traders can sell at 7682 for a turn lower. initially plan risking a close over 7689 for three days in a row. Beyond that 7720 and 7763 offer resistance. Above that 7819 to 7836 should trade. A close over 7836 augurs for a test of 7926 to 7939. Traders should go short at 7938, risk a close over 7954 for three days in a row.

Support is at 1.6246 and 1.6150. Below that 160.90 and 160.74 offers good support. Go long at 1.6150 risk a close under 1.6090. Resistance is at 1.6260. A close over 1.6260 augurs for a test of 1.6370 and 1.6420 to 1.6468. A close over 1.6470 augurs for a test of 1.6550. Traders should sell short at 1.6550, risk a close over 1.6620 for two days in a row.

Early support is at 5603/ 5598 below that 5577 and 5553. Under that 5541 offers support. Go long a 5541 for a turn higher, risk a close under 5523 for two days in a row. A failure there indicates a test of 5504 and 5491. Traders scan buy at 5493 for a bounce risk close under 5487 Resistance is at 5614 and 5640 to 5653. above that Traders should sell at 5679, Risk a close over 5717 for two days in a row. More Resistance is near 5729 and 5739. Go short at 5739, risk a close under 5793 for two days in a row.

Trade Accordingly

Support is at 6881 below that 6833 to 6809 should hold. Buy at 6809, risk a close under 6799 for two days in a row. resistance 6932 and 6990 to 7003 sell at beyond that traders should sell at 7020 risk a close over 7042 for three days in a row.

Good Support is near 300.50, Below that 299.80 and 296.90 offer support. Under that traders should buy at 290.80 and hold. Nearby Resistance is at 30303.60 and 304.10, a close over 304.1 augurs for a test of 309.70 to 312 Beyond that 319 to 324 offers

resistance.

Trade Accordingly.

Nearby Support is at 7815. Beneath that 7770 and 7635 offer support. Early resistance is at 7880. Traders should go long on a close over 7880. Above that resistance is at 7990. A close over 8000 indicates a ‘pop’ to 8150 and 8220. beyond that Resistance is at 8430 and 8455. Where traders should sell for a turn lower and risk a close over 8500 for two days in a row.

Trade Accordingly.

Support begins at 400 and 397.90, below that 395.60 offers good support. Traders should buy at 395.60 and hold failure there augurs for a slip to additional support near 380, buy at 380, risk a close under 377 for two days in a row on all positions.

Nearby Resistance is at 410, a close over augurs for a test of 419. Beyond that a move towards 445 is likely.

Long Term Friendly

On the Downside: Support is at 556 and 548 traders should buy at 558 or better and initially risk a close under 548 for three days in a row. On the Upside resistance is at 564 and 588, a close over 588 augurs for a test of the 603 to 608 region.

Support is at 5169, below that support should appear at 4980. Traders should buy at 4985, risk a close under 4875. As a failure there augurs for a slip towards 4775.

Early resistance is near 5215. Beyond that resistance is near 5260 and 5370. Beyond a trade to 5550/ 5580 is likely. A close over 5580 augurs for a test of 5760, traders should sell for a turn lower at 5760. Risk a close over 5855 for three days in a row.

Resistance near 4300 and 4400. A close over 4425 augurs for a test of 4645.

Beyond that resistance is at 4805. Above that Traders can go short at 4880, risk a close over 4915 for two days in a row. Support is at 4207 and 4183 Below that 4080 offers support. Traders should go long at 4080, risk a close under 4040 for three days in a row.

A close over or extended trade over 4305 is friendly, traders should go long using a 4320 stop.

Early Support is at 6381/2 and 635 1/2 Under that 629 offers support as does 621. Early resistance this week is 642 1/2 and 650. A close over 650 is friendly for a rally to 657 and 664. Beyond those 673 offers good resistance.

August Beans Recommended Position Long at 632 Hold

Support is 157.80 under that 155.90 offers support. Below that 153.30 should contain the break. Resistance is at 159.90 and 161.90. A close over 161.90 is friendly for a rally to 164 and 166.

Early support is at 2790 and 2775 Traders should buy at 2790 Risk a close under 2755 for two days in a row. Below that good support is 2761, 2740. Resistance is near 2829. A close over 2830 augurs for a test of 2890. Beyond that 2905 and 2929 offers resistance, traders can sell at 2929 for a turn lower, Risk a close over 2935 for two days in a row

Early Support is should appear near 245 3/4. Under that 242 offers support. Below that 239 should hold. Resistance is near 247 and 251. A close over 251 augurs for a test of 259 Beyond that sellers will appear near 264 and 271.

Traders should Go long at 249 stop. Risk a close under 241.

Support is 907 and 904 then 890. Below that 867 should hold, traders can buy at 877, risk close under 860. Resistance is near 912 and 932, above that 945 offers good resistance. A close over 952 augurs for a thrust towards 996 and 1009, traders should sell at 1005, risk a close over 1032.

On the DownSide, Early support is at 123.70 and 122.50, below that under that 120.30 and 119.20 offer support. Buy at 119.30 and Hold.

On the Upside, Resistance is 126.50 and 127.50 to 128.70. Beyond that 139.60 offers resistance as does 151.00.

Early Support is 1736 and 1731, below that traders should buy at 1715, risk a close under 1688 for two days in a row. Below that 1657 offers support. Hearty traders might be tempted to probe the long side at 1655, risk a close under 1644 for three days in a row. Resistance is 1755 and 1765, Beyond that resistance is at 1717 to 1780 and 1804 to 1814. Traders should sell at 1822 for a turn lower, risk a close over 1858 for two days in a row.

Early Support is near 6617. More support should appear near 6542.

Resistance is at 6690 to 6712. A close over 6712 augurs for a test of 6777, beyond that

6812 offers resistance.

A close over 6690 is friendly, if that occurs, traders should go long and risk a close under 6612 for three days in a row.

Long Term Friendly, Buy Dips.

Support is at 6217 and 6190, a close under 6190 augurs for a test of 6137 to 6112. Below that 6085 and 6055 offers support, traders should Go long at 6055, risk a close under 6020 for three days in a row. Resistance is near 6242, a close over augurs for a test of 6297 and 6337. Beyond that 6422 offers resistance. Traders should sell at 6417 and hold.

Trade Accordingly.

Resistance is near 6217 and 6242 beyond that 6380 offers resistance.

On the DownSide Early support is near 5257 buy there for a bounce and stay tuned.

Below that support should appear 5132 and 5102. Under that 4912 should hold.

On the Upside Resistance is near 5322. An extended trade or close over 5322 augurs for a test of 5402 and 5432. A close over 5432 augurs for a thrust towards 5632.

Beyond that 5702 offers resistance as does 5860 above that a trade to 6057 is likely

A close over 6057 indicates a rally to 6302.

Early Support is 119-20 a close under augurs for a pullback towards 118-21 and 118-13. Below that support is near 117-19 Where traders can buy for a bounce, risk 20 pts. An extended trade or close under 117-19 or 117-11 would indicate a slip to the 116-25

region with an outside chance of hitting 115-24. Where traders should buy for a turn higher and risk a close under 115-04

Resistance is at 120-19. A close over augurs for a test of 121-19, sell at 121-19 for a turn lower, risk a close over 121-26 for two days in a row. More resistance should appear near 122-22 and 123-09 beyond that 123-22 and 124-27 offers resistance. Sell at 124-27 and hold...

On the DownSide, Support is at 1107.00 to 1106.90 below that a slip towards 1101 is likely. A close under 1101 augurs for a slip to 1096.00 and 1091.20. A close under 1091 augurs for a trade to support near 1076 with an outside chance of testing the 1068.00 region of support. Below that support should appear at 1059.20 and 1058.00.

On the Upside, Resistance is at 1122.80 and 1133, beyond that 1136. and 1138.60 offers resistance. Sell at 1136. risk a close over 1139 for three days in a row. Beyond that resistance should appear near 1150.00 and 1159.00. Above that Sellers should raise their heads near 1164.00 to 1169.00 which should Cap a Rally.

Sell at 1164 and hold.

Initial support is at 9060 and 9044, below that support is near the 8964 to 8934 region.

A close under 8934 is negative and augurs for an eventual pullback towards 8820. A close under 8816 indicates a test of 8777 to 8762 or lower is likely.

Resistance is at 9140 to 9156 beyond that 9207 and 9236 offer resistance beyond that 9316 t0 9347 should bring out some sellers. Above that 9429 offers resistance.