FuturesCom Bi-Weekly Investment Outlook # 413 January 13 2013 SP500 and Equity Indices • Bonds • Currency Trading • Forex • Precious Metals • Energy • Grains • Livestock • Coffee • Sugar • Cocoa • Cotton. Free Two Week Trial see https://futurescom.com/free-trial-2
A trader should not swear eternal allegiance to either a bull or bear side. His concern lies with being right.
Saturday January 12, 2013 10:00 PM South Florida Beach Time
U.S. Stocks advanced again, considering that strong markets tend to have mid-month dips and close the month strong, look for some setback for a trading range over the next week or two. The Japanese Yen closed the week on its lows, conversely Dollar Yen closed on its highs. Traders should buy dips in Dollar Yen and continue selling Yen futures on Rallies. No change in posture. Look for some slippage early in the week in Aussie Dollar and Cable. Euro, Swiss Francs and have pushed higher. At the turn of the year we expected some pressure in Euro and Swiss and it was swift. Last week ended with a rapid rise that pushed into the resistance regions once again. Consider the Swiss and Euro a trading affair along with the US dollar index which closed badly on Friday and is resting a support.
Crude Oil acts better than we expected, we want to buy a dip in crude and its products on weakness. Once again it appears Gold and silver appear are trying to find a trading low while rallies continue to get sold. Seasonally Corn can sustain a rally however treat it as a trading affair normally corn will tend to stay at or above the harvest lows as we head into March but the trend is down and even with Friday’s rally more weakness into the end of January should not be ruled out. Soy Oil tends to test the soybean harvest lows into late January, as do Soybeans. Buying Summer Soybeans into Early February should reap rewards into the spring and summer for now it’s a trading affair. Wheat is a trading affair the volatility increase last week and price increase halts the steep decline and should provide ample trading during the sessions.
Coffee can seasonally turn higher, higher prices are normally in front of coffee during January thru February and it usually does not peak until we see the Ides of March, buy a dip. Sugar acts better while Cocoa is still suffering from a supply excess and tends take out or test December and November lows in January, thus we would avoid the long side except for a short term trade and prefer to sell rallies. Cotton is washing between the high 70’s and low 70’s and it also appears to be trading affair and Chinese threats of selling reserves is keeping a lid on cotton..
THE SENSATIONAL STOCK AND BOND MARKET
DOW JONES INDUSTRIAL AVERAGE
Support should appear near 13,460.00 to 13,340.00. Below that 13,100.00 to 13,040.00 should hold.
Resistance should appear near the 13,770.00 to 13,830.00 region, beyond that a test of 14,150.00 to 14,210.00 which should cap a rally.
MARCH E-MINI SP500
Resistance should appear 1484.00 to 1496.00 and the 1529.00 to 1535.00 region.
Support should appear near 1459.00 to 1453.00 and 1437.00. Below that buyers should appear near 1421.00 to 1415.00 which should contain a decline. Traders can buy at 1421.50 and risk a close under 1414.00 for three days in a row.
NASDAQ COMPOSITE
Resistance should appear near 3148.00 to 3157.00, a close over is friendly and augurs for a test of 3194.00 to 3213.00 where sellers should appear and cap a rally. Above that resistance should appear near 3261.00 to 3270.00.
Support should appear near 3102.00 to 3092.00 and the 3045.00 to 3036.00 region. Below that buyers should appear near 2990.00 to 2972.00 and contain a decline.
MARCH E-MINI NASDAQ 100
Support should appear near 2724.00 to 2716.00 and the 2672.00 to 2663.00 region.
Resistance should appear near 2758.00 to 2775.00. Beyond that sellers should appear near 2820.00 to 2829.00.
MARCH E-MINI RUSSELL 2000
Resistance should appear near the 885.60 to 887.10 and the 893.40 to 896.40 region. Beyond that sellers should appear near the 904.40 to 906.00 region and cap a rally.
Support should appear near 877.70 to 876.20 and the 868.30 to 866.80 region.
MARCH 30 YR BOND
Resistance should appear near 146-07 and 146-21. Beyond that sellers should appear near
147-07 and should cap a rally.
Support should appear near 144-21 and 144-07 Failure there augurs for a test of 143-21, below that buyers should appear near 142-21 and 141-07
MARCH 10 YR NOTE
Resistance should appear near 132-21 and 133-07, beyond that 134-07 should cap a rally.
Support should appear near 131-21 and 131-07, below that a test of 130-21 is likely and should bring in buyers.
THE FRENZIED FOREX FRONT
MARCH DOLLAR INDEX
Resistance should appear near 8029 to 8044, a close over is friendly and augurs for a test of the 8119 to 8134 region.
Support should appear near 7954 to 7939 region. Below that buyers should appear near 7902 and the 7864 to 7834 region.
MARCH JAPANESE YEN
Resistance should appear near 11300 to 11360. Traders can sell at 11300 and hold for lower prices,
initially plan on risking a close over 11367 for three days in a row and stay tuned for flashes.
Support should appear near the 11155 and the 11010 to 10960 region, failure there is negative and augurs for a test of 10820 and the 10680 to 10580 region.
MARCH EURO CURRENCY
Support should appear near 13220 and the 13100 to 13040 region. Below that a test of 12890 is likely to occur.
Resistance should appear near the 13340 to 13460 region. Beyond that sellers should appear near 13615 and the13770 to 13830 region.
MARCH SWISS FRANC
Resistance should appear near 10960 to 11010 and the 11300 to 11360 region.
Support should appear near 10890 and 10820, below that a test of 10680 to 10580 is likely.
MARCH BRITISH POUND
Support should appear near 16090 a close under is negative and augurs for a test of 15922 and eventually the 15760 to 15690 region.
Resistance should appear near 16287 and the 16420 to 16550 region.
Traders should go short if a close under 16087 occurs.
MARCH CANADIAN DOLLAR
Resistance should appear near 10175 and the 10320 to 10360 region, which should cap a rally.
Support should appear near 10136 to 10104 and the 10037 to 10021 region.
MARCH AUSSIE DOLLAR
Resistance should appear near the10580 to 10680 region.
Support should appear near 10470 and the 10360 to 10320 region. Traders can buy at 10370 for a bounce and risk a close under 10317 for three days in a row.
THE PRECIOUS METALS
FEBRUARY GOLD
Resistance should appear near 1689 to 1696 and the 1731 to 1738 region. Beyond that sellers should appear near 1756.0 and the 1774.0 to 1780.0 region.
Support is near 1655 to 1642. Below that a trade towards 1615 to 1609 is likely.
MARCH COPPER
Resistance should appear near the 37340 to 37450 region. Beyond that sellers should appear near 37950 to 38060.
Support should appear near 36230 to 36130 and the 35630 to 35530 region.
MARCH SILVER
Resistance should appear near 3092 to 3102 and the 3148 to 3157 region. Beyond that sellers should appear near 3261 to 3270.
Support is at 2990 to 2972 and 2927 to 2928 region. Below that buyers should appear near 2882 to 2874 and the 2829 to 2820 region.
THE EXCITING ENERGIES
MARCH CRUDE OIL
Resistance should appear near 9429 to 9445 , a close over is friendly and augurs for a test of 9526 to 9542, beyond that a trade towards the 9706 to 9737 region is likely.
Support should appear near 9347 to 9316 and the 9156 to 9140 region. Below that buyers should appear near the 9060 to 9044 region. Traders can buy at 9067 and hold for higher prices.
MARCH HEATING OIL
Support should appear near 29900 to 29720 and the 29370 to 29280 region, which should bring in buyers and contain a decline. Below that support should appear near 28830 to 28740.
Resistance should appear near 30360 to 30450, a close over is friendly and augurs for a test of the 30920 to 31020 region. Above that a trade towards 31480 to 31570 is likely.
MARCH UNLEADED GAS
Resistance should appear near 27580 to 27750 and the 28120 to 28200 region. A close over is friendly and augurs for a test of 28830 to 28740 and eventually the 29280 to 29370 region.
Support should appear near 27240 to 27160 and the 26720 to 26630 region. Traders can buy at 26730 and hold for higher prices. Below that buyers should appear near 26200 to 26120.
Stay tuned for Flashes
MARCH NATURAL GAS
Resistance should appear at 3425 to 3443 and 3553 to 3563. Beyond that sellers should appear near the 3663 to 3682 region.
Support should appear near 3157 to 3148 and the 2990 to 2972 region.
THE GRANDE’ GRAINS
MARCH SOYBEANS
Support should appear near 1346 to 1334 and the 1310 to 1304 region… Below that buyers should appear near 1274 to 1268.
Resistance should appear near 1377 to 1383 and the 1415 to 1421 region, which should cap a rally.
Beyond that sellers should appear near 1453 to 1459.
MARCH SOYOIL
Resistance should appear near 4973 to 4995 and the 5127 to 5139 region. Beyond that sellers should appear near the 5200 to 5211 region and cap a rally.
Support should appear near 4915 and the 4856 to 4845 region. Below that buyers should appear near 4785 to 4775.
MARCH SOYMEAL
Resistance should appear near 411.0 to 412.0 and 416.3 to 418.3 Beyond that sellers should appear near 423.8 to 424.9 and cap a rally.
Support should appear near 399.2 to 398.2 and the 380.6 to 379.5 region.
MARCH CORN
Support should appear 691 ¾ to 690 ¾ and the 683 33/4 to 680 ¾. Below that a test of 667 ¼ to 666 ¾ is likely.
Resistance should appear near 714 ¼ to 717 and the 732 ¾ to 734 ¼ region, which should cap a rally.
MARCH WHEAT
Resistance should appear near 767 ½ to 768 ¾ and 776 ¼ to 777 ¾. Beyond that sellers should appear near 802 ¾ to 804 ½.
Support should appear near 751 ¼ to 748 ¾ and the 742 ¾ to 741 ½ region.
Below that a test of 734 ¼ to 732 ¾ is likely, failure there augurs for a test of 717 to 714 ¼.
Stay tuned for Grain Flashes
THE LIVELY LIVESTOCK
FEBRUARY CATTLE
Support should appear near 12967 and 12890, below that a test of the 12740 to 12680 region is likely.
Resistance should appear near 13100 and 13220, beyond that a test of 13340 to 13460 is likely.
APRIL CATTLE
Support should appear near 13340 and the 13100 to 13040 region.
Resistance should appear near 13617 and 13770 to 13830.
JUNE CATTLE
Support should appear near 12740 to 12680 region.
Resistance should appear near 13040 to 13100.
FEBRUARY HOGS
Resistance should appear near 8487 to 8502 and the 8557 to 8592 region.
Support should appear near 8407 to 8392 and the 8317 to 8302 region. Below that buyers should appear near 8227 to 8192. Traders can buy at 8232 for a bounce and risk a close under 8187 for three days in a row.
APRIL HOGS
Support should appear near 8687 to 8662 and the 8592 to 8557 region.
Resistance should appear near 8762 to 8777 and the 8857 to 8872 region. Beyond that sellers should appear near 8932 to 8967.
JUNE HOGS
Support should appear near the 9642 to 9622 and the 9542 to 9527 region. Below that buyers should appear near 9347 to 9317.
Resistance should appear near 9707 to 9737 and the 9822 to 9837 region. Above that sellers should appear near 9922 to 9937.
THE SATISFYING SOFTS
MARCH COFFEE
Support should appear near 14960 to 14840, traders can buy at 14970 and hold for higher prices. Below that buyers should appear near 14590 to 14530 which should contain a decline.
Resistance should appear near 15690 to 15760 and the 16090 to 16150 region.
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MARCH COCOA
Resistance should appear near 2267 to 2275 and the 2315 to 2322 region. Beyond that sellers should appear near 2354 to 2370. Traders can sell at 2315 and hold for lower prices. Risk a close over 2372 for three days in a row
Support should appear near 2226 to 2219 and the 2185 to 2170 region. Below that a test of 2134 to 2126 is likely to occur.
MARCH SUGAR
Support is at 1909 to 1902 and the 1865 to 1858 region. Under that a test of 1822 to 1808 is likely and where buyers should appear to contain a decline. Traders can buy at 1823 and hold for higher prices… risk a close under 1807 for three days in a row.
Resistance should appear near 1946 to 1953 and the 1982 to 1996 region. Beyond that sellers should appear near 2034 to 2042. Traders can Sell at 2032 and risk a close over 2047 for three days in a row.
MARCH COTTON
Support should appear near 7342 to 7328 and the 7170 to 7143 region. Below that a test of 7003 to 6990 is likely.
Resistance is near 7587 to 7601. Beyond that sellers should appear near 7763 to 7777 and the 7836 to 7864 region and cap a rally.
Stay tuned for Flashes and Updates in all Markets
–A Ship in Harbor is Safe…But that is not what ships are built for —
Happy Trading!
Bill wil@futurescom.com
Sunday January 13, 2013
3:00 PM South Florida Beach Time
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FuturesCom Bi-Weekly Investment Outlook # 413 Sunday January 13, 2013 Equity Indices – Treasuries – Currency Trading – Forex – Precious Metals – Energy – Grains – Livestock – Softs Comments
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