FuturesCom Bi-Weekly Investment Outlook # 418 March 23 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
Saturday March 23, 2013 9:30 PM South Florida Beach Time
US Stocks closed higher on Friday. Traders should look for more news-driven trading and expanded ranges. This week is a short trading week; all US Markets are closed Friday for the Good Friday holiday, which is accompanied by the end of the First Quarter. Stay tuned for Flashes along with updates in all markets after the quarter ends.
Yen remains long term bearish. Buy Dollar / Yen on a dip and maintain shorts in Futures. Canuck can firm a bit more. However the rally appears muted and selling is still preferred. Maintain shorts in Swiss futures and buy Dollar / Swiss on dips. The Euro appears to be range- bound with 13040 to 13100 on top and 12740 to 12680 on the downside which is still expensive. Euro at 11700 would be cheap and that’s probably where Euro is going to end up over the next year. Cable has bounced and should test overhead resistance and then setback into the lower part of the trading range. Stay tuned for Forex Flashes. Silver and gold act sloppy and remain lower on the year. Copper is a sale on a rally. Energies as with most commodities are sloppy. However further Crude Oil strength into April and May especially on geopolitical concerns should not be ruled out. Use the May contracts in energies to trade. Consider rolling the April Unleaded into June and holding for higher prices while trading May futures. June hogs can rally into late April and May from an oversold condition.
Stay tuned for additional Flashes and updates for all markets into the end of the first quarter.
On to the Nitty Gritty
THE SENSATIONAL STOCK AND BOND MARKET
DOW JONES INDUSTRIAL AVERAGE
Support should appear near 14,370.00 and the 14,210.00 to 14150.00 region. Below that 13,830.00 to 13,770.00 should hold.
Resistance remains near the 14,530.00 to 14,590.00 region. Beyond that a test of 14,840.00 to 14.960.00 is likely and should cap a rally
JUNE E-MINI SP500
Resistance should appear the 1569.00 to 1576.00 region. A close over is friendly and augurs for a test of 1609.00 to 1615.00.
Support should appear near 1535.00 to 1529.00 and 1512.50. Traders can buy at 1537 for a bounce and risk a close under 1527.00 for three days in a row. Below that buyers should appear near the 1496.00 to 1484.00 region…
NASDAQ COMPOSITE
Resistance should appear near 3261.00 to 3270.00 and the 3319.00 to 3328.00 region
Support should appear near 3213 to 3194 and the 3157.00 to 3148.00 region. Below that buyers should appear near 3102.00 to 3092.00 which should contain any decline.
JUNE E-MINI NASDAQ 100
Support should appear near 2775.00 to 2758.00… Below that buyers should appear near the 2724.00 to 2716 region. Traders can buy at 2742 and risk a close under 2715 for three days in a row. Below that buyers should appear near 2672.00 to 2663 and contain a decline.
Resistance should appear near 2820.00 to 2829.00, a close over is friendly and augurs for a test of
2874.00 to 2883.00.
JUNE E-MINI RUSSELL 2000
Resistance should appear near 952.60 to 954.30. Beyond that a test of 970.60 to 973.70 is likely.
Support should appear near 934.70 to 931.60 and 923.70. Below that buyers should appear near 915.60 to 914.00 and the 906.00 to 904.40 region.
JUNE 30 YR BOND
Resistance should appear near 144-07 and 144-21. Beyond that sellers should appear near 145-07 and 145-21.
Support should appear near 143-07 and 142-21. Below that a test of 141-21 is likely.
JUNE 10 YR NOTE
Resistance should appear near 131-21… Beyond that sellers should appear near 132-07 and 132-21 and cap a rally.
Support should appear near 130-07 and 129-21, failure there is negative and augurs for a test of
129-07 and eventually 128-21
THE FRENZIED FOREX FRONT
JUNE DOLLAR INDEX
Resistance should appear near the 8300 to 8314 region. A close over is friendly and augurs for a test of 8391 to 8406.
Support should appear near 8223 to 8194 and should hold, below that buyers should appear near the 8134 to 8119 region and contain a decline.
Traders should go long if a close over 8317 occurs.
JUNE JAPANESE YEN
Resistance should appear near 10630 to 10680 and 10750.
Support should appear near 10470 and the 10360 to 10320 region. A close under is negative and augurs for a test of 10136 to 10104.
JUNE EURO CURRENCY
Support should appear near 12967 and 12890. Below that a test of 12740 to 12680 is likely.
Resistance should appear near 13040 to 13100 and 13155. Beyond that sellers should appear near 13220.
JUNE SWISS FRANC
Resistance should appear near 10680 then 10750 and 10817.
Support should appear near 10580 and 10470, a close under is negative and augurs for as test the 10360 to 10320 region. Traders should go short if a close under 10467 occurs.
JUNE BRITISH POUND
Support should appear near 15125 and the 14960 to 14840 region. A close under is negative and augurs for a test of the 14590 to 14530 region.
Resistance should appear near resistance should appear near the 15290 to 15350 region.
JUNE CANADIAN DOLLAR
Resistance should appear near 9779. Beyond that sellers should appear near 9821 to 9837. Traders can sell at 9821 and hold for lower prices. Risk a close over 9887 for three days in a row. Beyond that sellers should appear near 9921 to 9937.
Support should appear near 9737 to 9706 and 9641 to 9425. Below that a test of 9542 to 9526 is likely.
JUNE AUSSIE DOLLAR
Resistance should appear near 10417 and 10470
Support should appear near the 10360 to 10320 region. Below that a test of 10237 is likely.
THE PRECIOUS METALS
JUNE GOLD
Resistance should appear near 1609 to 1615. Beyond that Sellers should appear near the 1642 to 1655 region and cap a rally. Traders can sell at 1641 and risk a close over 1657 for three days in a row.
Support is near 1592.00 and the 1576 to 1569 region, below that a test of 1552 and the 1535 to 1529 region is likely.
MAY COPPER
Resistance should appear near 34930 to 35030. Traders can sell at 34930 and hold for lower prices. Beyond that sellers should appear near 35530 to 35630.
Support should appear near 34430 to 34250 and the 33860 to 33770 region. A close under is negative and augurs for a test of 32700 to 32610.
MAY SILVER
Resistance should appear near 2928 to 2937 and the 2972 to 2990 region. Beyond that sellers should appear near 3036 to 3045 which should cap a rally.
Support is at 2829 to 2820 and the 2724 to 2716 region. Below that buyers should appear near 2568 to 2552.
THE EXCITING ENERGIES
MAY CRUDE OIL
Support should appear near 9347 to 9316 and 9237. Below that buyers should appear near 9156 to 9140 and the 9060 to 9044 region.
Resistance should appear near 9429 to 9445 and the 9526 to 9542 region.
MAY HEATING OIL
Support should appear near 29370 to 29280 and the 28830 to 28740 region.
Resistance should appear near 30360 to 30450 and the 30920 to 31020 region. Beyond that a test of 31940 to 32130 is likely.
MAY UNLEADED GAS
Support should appear near 30450 to 30360 and the 29370 to 29280 region.
Resistance should appear 31480 to 21570 and 32610 to 32700.
MAY NATURAL GAS
Resistance should appear at 4046 to 4056 and the 4110 to 4120 region. Beyond that sellers should appear near 4163 to 4183
Support should appear near 3867 to 3858 and the 3743 to 3734 region. Below that buyers should appear near 3682 to 3663.
THE GRANDE’ GRAINS
JULY SOYBEANS
Support should appear near 1399 and the 1383 to 1373 region. Below that buyers should appear near
1346 to 1334.
Resistance should appear near 1437 and the 1453 to 1459 region. Beyond that a trade towards the 1484 to 1496 is likely to occur and should cap a rally.
JULY SOYOIL
Resistance should appear near 5127 to 5139 and the 5200 to 5211 region, which should cap a rally.
Support should appear near 4995 to 4973 region. Below that buyers should appear near 4926 to 4915.
JULY SOYMEAL
Resistance should appear near 416.3 to 418.3 and the 430.4 to 431.5 region. Beyond that sellers should appear near 437.0 to 438.1.
Support should appear near 412 to 411 and the 405.6 to 404.6 region. Failure there is negative and augurs for a test of 386.7 to 385.8, which should contain a decline.
Trade Accordingly
JULY CORN
Support should appear 700 ¼ to 699 and the 683 ¾ to 680 ¼ region. Below that buyers should appear near 675 ½ to 674 ¾.
Resistance should appear near 714 ¼ to 717, beyond that sellers should appear near 732 ¾ to 734 ½ and the 741 ½ to 742 ¾ region.
JULY WHEAT
Resistance should appear near 741 ¾ to 742 ¾ and the 776 ¼ to 777 ¾ region, which should cap a rally. Traders can sell at 776 ¼ and hold for lower prices.
Support should appear near 725 ½ to 724 ¼ and the 708 ¾ to 707 ½ region, below that a test of 683 ¾ to 680 ¾ is likely. Under that buyers should appear near 667 1/4 to 665 ¾ and contain a decline.
THE LIVELY LIVESTOCK
JUNE CATTLE
Support should appear near 12030 to 11920 and the 11690 to 11640 region which should hold.
Resistance should appear near 12320 to 12380, a close over is friendly and augurs for a test of 12527 and the 12680 to 12740 region.
JUNE HOGS
Support should appear near 8682 to 8668 and the 8317 to 8292.
Resistance should appear near 9037 to 9062 and the 9142 to 9162 region. Beyond that sellers should appear near 9317 to 9347.
Stay tuned for Livestock flashes
THE SATISFYING SOFTS
JULY COFFEE
Support should appear near 13100 to 13040 and the 12740 to 12680 region.
Resistance should appear near 14530 to 14590 and the 14840 to 14960 region.
JULY COCOA
Resistance should appear near 2170 to 2185 and the 2267 to 2275 region.
Support should appear near 2089 to 2080 and the 2042 to 2034 region.
JULY SUGAR
Resistance is near 1902 to 1909 and the 1946 to 1953 region.
Support should appear near 1780 to 1774 and the 1738 to 1731 region.
JULY COTTON
Support should appear near 8589 to 8560 and the 8499 to 8484 region. Below that buyers should appear near 8406 to 8391 and the 8314 to 8300 region. Traders can buy at 8315 for a bounce and risk a close under 8285 for three days in a row.
Resistance is near 8934 to 8964 and the 9044 to 9060 region. Beyond that sellers should appear near
9316 to 9347.
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 March 24, 2013
2:30 PM South Florida Beach Time
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FuturesCom Bi-Weekly Investment Outlook # 418 Sunday March 24, 2013 Equity Indices – Treasuries – Currency Trading – Forex – Precious Metals – Energy – Grains – Livestock – Softs Comments
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