7/12/98
7:08 AM

Sept. J-Yen

Nearby Support is 7143 then 7126 and 7122. Traders should go long at 7143, risk close under 7118 for three days in a row. Beneath that support is 7088 and 7074 to 7063. A close under 7074 augurs for a slip towards 7030 and the 7003 to 6990 region.  Traders can buy at 7003 and hold for higher prices.

Resistance is at 7170. A close over 7170 augurs for a test of resistance at 7222 and likely 7242 to 7256. Beyond that resistance is 7328 to 7342 . Traders should again be prepared for another rally to the 7328 to 7342 region. A close over 7342 indicates a test of resistance near the 7486 to 7513 region. Above that resistance is at 7587 to 7601 and 7675 to 7689, eventually we see a rally to 7675. Traders can go short at 7675 , risk a close over 7690 for three days in a row.

Sept. Swiss Recommended Position Long at 6695, 6755, 6628 and 6540 (3)
Did the Swiss Get bloody enough last week? I think so, a contract low was set during Fridays AM globex session. By the PM close on Friday the Sept. Swiss achieved a higher on the day close, which in it self is somewhat friendly, however to do that on a Friday is more friendly and indicates that the selling may now come at higher prices rather than lower. Since markets tend trade to where the 'orders' are I suspect a bit of a rally is due.

Resistance next week is at 6543 then 6556 to 6558. A sustained move over 6558 augurs for a rally towards the 6577 to 6605 region. Beyond that resistance is at 6656 to 6673. A close over 6673 is friendly for a test of the 6741 region.

Support is at 6509 to 6483, below that support is at 6456 and 6430 which should contain a break. A close under 6417 is negative for a slip towards the 6350 to 6337 level.

Sept. British Pound:

Support is at 1.6246 and 1.6150 to 1.6090 . Traders can Buy at 1.6150 for a bounce, and hold for higher prices. Below that support should appear at 1.6090 and 1.5936 .

Resistance is at 1.6298 and 1.6380 to 1.6420. A close over 1.6420 augurs for a test of 1.6550. Traders can sell at 1.6510 , risk a close over 1.6550 for three days in a row.

Sept. D-Mark Recommended Position long 5593 and (3) 5490

Nearby Resistance is at 5529 and 5545 to 5553 beyond that resistance is at 5577 and 5605. A close over 5605 is friendly for an eventually rise to 5640. However a trade over 5653 augurs for a test of 5688. Traders should go short at 5688 for a quick turn lower. Risk a close over 5729 for two days in a row.

Support is at 5520 and 5509 to the 5492 region. Below that support is at 5481 and 5461. Below that support is at 5430 to 5418. Day traders can buy at 5430 for a bounce, risk 20 pts. A close under 5418 is negative for a slip towards the 5356 to 5344 region. Where hearty traders can go long and hold for higher prices in to August.

Sept. Canadian Dollar Recommended Position long at 6836,6856 and 6847

Support should appear near the 6755 to 6741 region. We still think the Canadian Dollar has suffered enough at this point a good short covering rally is over due. Below 6741 support is at 6729 and 6673.
Resistance is at 6775 and 6792 to 6809. A close over 6809 is friendly and indicates a test of 6836. A close over 6842 augurs for a thrust towards the 6906 to 6914 region where traders should sell at 6906 , risk a close over 6922 for three days in a row.

A near term close over 6775 is friendly.

August Gold Recommended Position Long at 298.10 and 293.10

Support is at 288.60 to 288.10 , day traders can buy at 288.30 , risk $ 4.00. Beneath that support is at 282.9 and 278.7.

Resistance is at 292.80 and 293.70 A close over 293.70 augurs for a test of 298.60 where good sellers should appear. A close over 298.7 is friendly for a push towards 303.60 and resistance at 308.60.

Sept. Copper: Recommended Position Long at 7480

Support is at 7125 and 7005 to 6990. Day Traders can buy at 7005 for a bounce, risk 125 pts Below that 6990 and 6920 offer support.

Resistance is at 7290 and 7335. Above that resistance is at 7480 to 7510. Beyond that 7670 offers good resistance.

Trade Accordingly,

Oct. Platinum Recommended Position short at 377.

Nearby Support is at 376. A slip under augurs for a pullback towards 365, traders can go long at 365 , risk a close under 361 for three days in a row. Below that support is at 356 to 350.5.

Resistance is at 383.5 and 385.5 Beyond that resistance is near 389.8 and 392.5 and 409. Traders should Go Short at 409 for a quick turn lower. Risk a Close over 412 for two days in a row.

Negative near term , bullish long term.

Sept. Silver

On the Downside: Nearby Support is at 521. Traders can buy at 521 and hold. Below that good buyers should appear at 515 to 512 and 498.5 traders should go long at 515 for a good 2 to 3 day bounce. Risk close under 505 for two days in a row. Below that 491 should hold.

On the Upside. Resistance is at 539 and 543. A close over 543.5 augurs for a test of 555 and 564. A close over 565 is bullish

Traders should try to Buy this dip

September Crude

Support is at 1403 and 1397, traders should go long at 1397 for a good bounce. Risk a close under support at 1370. Below that support is at the 1346 to 1334 region and should hold. Traders should buy at 1335 and hold for higher prices.

Resistance is at 1422 then 1447 and 1453 to 1459 . A close over 1453 indicates a test of the 1484 to 1496 region. Beyond that a thrust towards the 1530 region is possible. Beyond that traders should sell at 1621 and hold for a turn lower.

* A trade over 1423 is friendly , traders should go long at 1423 Stop.

September Unleaded Gas

Support is at 4724/4717 and 4679. Below that support is 4625 and 4582 then 4515. Traders should buy at 4680, risk a close under 4570 for two days in a row. Below 4515 support is near 4445 to 4425.

Resistance is at 4775 to 4786. A close over 4790 augurs for a test of 4880. A close over 4927 is bullish for a test of the 5090 /5125 region. Beyond that resistance is 5210 traders can go short at 5210 for a turn lower , a close over 5285 for two days in a row.

* Traders should go long on a close over 4927

August Heating Oil Recommended Position long at 3910

Resistance at 3794 and 3935. Above that 4010 offers resistance.
On the Downside Support is at 3717. Below that 3587 should contain the break.

A close over 3795 is friendly.

September Heating Oil

Resistance is at 3926 and 3948, beyond that 3995 offers resistance. A close over 3995 is friendly for a rally to the 4110 /4140 region. Above that resistance is at 4180 and 4235.

Support is at 3867 to 3858 and 3810. Below that 3743 should hold. Traders can buy at 3748 for a good two to three day bounce, risk a close under 3610 for two days in a row.

August Soybeans Recommended Position Long 646 3/4

Support is at 631 3/4 and 623 3/4 to 616 1/2. Traders should buy at 624, risk a close under 612 for two days in a row. Below that good support is at 609 3/4.

Resistance is at 637 3/4 and 644 1/2, a close over 644 1/2 is friendly for a test another test of the 651 3/4 to 655 region. Beyond that resistance is at 668 and 673 1/2. Beyond that an eventual test 707 is not out of question.

Trade accordingly.

November Soybeans

Support is at 588 3/4 and 585 3/4, a close under augurs for a test of 571, below that support is at 559 and 545. Traders should buy for the Pull at 549 1/2.

Traders' Who have Ice Water Running through their veins should Buy November Beans for a bounce at 588.

Resistance is at 599 3/4 and 609 1/2 beyond that resistance is at 616 to 616 3/4 and 622. Above that resistance is at 637 and 657.

August Soybean Meal

Support is 161.90 and 159.90. Traders should go long at 159.90, risk a close under 155.3 for three days in a row. Below that support is at 152.90 and 149.6

Resistance is at 163 then 167.90 and 168.90, a close over 168.90 is bullish for another test of 171.10 to 174.50 and 181.

Trade Accordingly.

August Soybean Oil

Support is at 2552 with more at 2525 and 2519 to 2511. Traders should buy at 2525 Risk a close under 2510 for three days in a row. Below that support should appear at 2473 and the 2469 to 2461 region. Traders should Buy at 2469 and Hold.

Resistance is at 2568 and 26121 to 2625. Beyond that resistance is at 2663/ 2672.A close over 2672 augurs for a test of 2716 to 2724. Beyond that Traders should sell at 2758 for a turn lower. Risk a close over 2776 for two days in a row.

Dec. Corn Recommended Position long at 258 1/2 and 257 1/2

Support is at 240 1/4. Below that support is near 235 1/4 and 227 3/4 and 222.

Resistance is at 241 3/4 and 245 1/4. Beyond that resistance is at 250 1/4. A close over 250 1/2 is friendly for a test of 259.

A close early this week over 242 indicates a test of 250.

Sept. Wheat Recommended Position Long at 290 3/4

Resistance is at 276 3/4 and 279. Beyond that 283 to 285 and 291 offer good Resistance.

On the Downside Support is at 273 1/2 and 271 Below that support should appear at 264 1/2.

Dec. Cotton Recommended Position Long at 7513

Support is at 7455 and 7365, beneath that 7305 offers good support. Traders can buy at 7375 and hold for higher prices. Below that support is at 7235. Traders can go long for a the pull at 7235.

Resistance is 7587 and 7635. A close over 7690 augurs for a test of resistance at 7770. A close over 7840 indicates a move towards 8050.

Trade Accordingly

Oct. Sugar

Support is at 852 to 847 and 830 beneath that traders can buy at 823, risk a close under 814 for three days in a row. Below that 795 to 782 offer some support.

Resistance near at 870 and 877 to 882. Beyond that good resistance is near the 907 to 910 region. A close over 912 augurs for a test of 932 to 941. Traders should sell at 932 for a turn lower, risk a close over 942 for three days in a row.

Sept. Coffee: Recommended Position Long at 121.95

On the DownSide, Early support is at 108.15 and 107.35. Below that 106.80 and 105.80 should hold. Day Traders can buy at 106.80 for a bounce. Stay tuned for the Stop. Below that 103.60 should hold for now.

On the Upside, Resistance is at 109.85 and 109.95 to 110.10. A close over 110.10 augurs for a test of 111.55 and 112.35 then 113.00 to 113.60, a close over 113.60 augurs for a test of 116.40 to 116.90

Sept. Cocoa

Support is at 1586 to 1576/ 1569. Traders can Buy for a turn higher at 1586 risk a close under 1561 for two days in a row. Below that support is at 1536 to 1529 which should hold. Traders can buy at 1537, risk a trade under 1490.

Resistance is at 1597 and the 1609 to 1615 region. A close over 1609 is friendly for a test of 1636 and 1642 to 1655 where traders can go short for a turn lower at 1655, risk a close over 1692 for two days in a row.

* A trade through 1597 is friendly, traders should go long using a 1598 Buy Stop, risk a close back under 1561 for two days in a row.

The Lively Livestock

August Cattle Recommended Position long at 6665,6532 and 6437.

Support is at 6272. Below that 6222 to 6192. Under that 6112 to 6102 should bring out a few buyers.

Resistance is at 6312 and 6342. A close over 6317 augurs for a test of 6367 and 6417 Beyond that good resistance is at 6542.

Long term Friendly

August Hogs Recommended Position long 2 at 5265

Support is at 5032 to 5027 and 4907

Resistance is at 5132 and 5155 beyond that resistance is 5225 to 5232 A close over 5232 is friendly for a test of 5347 and 5445.

October Hogs

Recommended Long Oct. at 5370 from the spread Hold.

Resistance is now at 4777 and 4812, above that resistance is at 4865 to 4887. Near term, a close over 4782 is friendly. While a close over 4887 indicates a test of 5100.

Support is at 4712 and 4665. Below that Hearty traders can buy at 4612 for a bounce Below that 4570 and 4447 should hold

July Bellies Recommended Position Long at 5807

August Bellies

Support is at 5137 to 5127, below that support is 5067 and 4747.

Resistance is at 5277 and 5325 above that 5640. Traders should sell at 5637 for a turn lower.A close over 5287 is friendly, traders should go long if a close over 5287 occurs.

Stay tuned for Updates in the Pig complex --From the Frying Pan into the Fire--

Sept. Bonds

On The Downside, Nearby Support is 123-13 and 123-10. Below that 123-04 to 123-02 should show good support. However a close under 123-02 is negative and augurs for an eventual slip to 122-02. Where traders can buy for a turn higher , risk a close under 121-13 for two days in a row. Below that 121-02 should hold.

On the Upside: Resistance is at 123-27 and 124-02 , above that resistance is at 125-02 sell at 125-04 for a turn lower , risk a close over 125-20 for two days in a row. Above that resistance is at 126-02 which should cap a rally.

Sept. SP500 Recommended Position Short at 1123.80 ,1125.80,1136,1143 and 1164
On the DownSide, Support is at 1169 and 1167.40. Below there is support also at 1166 and 1164. Below that some support remains at 1162.50 and 1161.80 then 1158.90, a close under 1158.90 indicates a test of 1150. A close under 1167.30 is negative, under 1164 augurs for an eventual test of 1150 and 1146.90 to 1144 and 1141.90 under that support is at 1139.80 to 1138.70 and 1136. A trade under 1136 augurs for a test of 1133 and 1130. Below that support lies at 1126.20 and 1122.20. A close under 1122.20 augurs for a test of 1115 and 1110.40.

On the Upside, Resistance is at 1175.10 and 1176.90.

Beyond that good sellers should show up at 1181.70 and 1184.10. Above that resistance is at 1192 to 1203

* A close under 1167.30 is negative, if this occurs, traders who have 'Ice Water Running through their Veins.' Should Go Short.

The Dow Jones Industrial Average

Support is 9060 and 9044. A slip under or close under 9052 is negative for another test of 9012 then 8965 to 8934/ 8929 and 8871 to 8856, under that support is at 8805.5. A Slip under 8798 is negative and augurs for a pullback towards the 8777 to 8762 region. A close under 8759 augurs for a test of 8719 and an eventual test of 8683 to 8668.
Resistance should first appear at 9115 and 9140 to 9156/9158.60 , above that resistance is at 9197 and 9236. Beyond that resistance is 9316 to 9347. Beyond that resistance is at 9388 and 9429 to 9445.

A ship in Harbor is Safe.. But that's not what ships are built for.

Happy Trading

Bill

Sunday July 12 1998

12:57 PM

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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.