Morning Investment and Day Trading Comments Friday November 8, 2013 Equity Futures • Indices • Treasuries • Forex • Precious Metals • Crude Oil • Grains • Livestock • Coffee • Sugar • Cocoa. Free Two Week Trial see https://futurescom.com/free-trial
The pessimist sees difficulty in every opportunity. The optimist sees the opportunity in every difficulty. — Winston Churchill —
Thursday November 07 2013
10:00 PM South Florida Beach Time
Stocks dropped in front of tomorrow’s payrolls report after third quarter GDP posted a better than expected gain as most economists had forecasted a 2.0% growth rate. Tomorrow’s unemployment rate is expected to rise to 7.4 % with non-farm payrolls declining a bit to 110,000. Stocks remain higher on the year and are now lower on the month. Typically the month of November ends higher than where October closed. Those selling the stock market in November usually end up changing their minds as they begin to prepare to the holiday season directly in front of the market. The Bi-Weekly Outlook advocated buying a mid-month decline in a bull market and that has not changed.
Forex markets had wide swing today after the ECB cut rates to foster growth and stop nascent deflation that’s is beginning to creep into the Eurozone. The trading range remains the same in the Euro, Yen and most other Forex markets.
The USDA Crop Report tomorrow is expected to report a record corn. Grains are weak and approaching the time of the year when harvest lows are made in corn and beans. Today’s Soybean action can be construed as constructive. Soybeans are lower on the month and just encroaching upon the lower end of the last trading day of last month. If beans go up on the month some buying may come in. Tomorrow’s USDA report is expected to show soybean production up 75 million bushels from the September forecast of 3.149 billion bushels. Soybean ending stocks are expected to be 172 million bushels, up from 150 in September. Yields are coming in between 42-43 bushels per acre. World ending stocks are expected to be near 72.3 million tonnes down a million tonnes from September. Corn ending stocks are estimated to come in at 2.029 billion vs. 1.855 in September. All wheat carryout is expected to declining to 519 million bushels, down from 561 in September. The grain focus will quickly shift to demand ideas in all grain markets. If you need more detailed analysis please email or call the office.
THE SENSATIONAL STOCK AND BOND MARKET
DOW JONES INDUSTRIAL AVERAGE
Support should appear near 15,520.00 and the 15,350.00 to 15,290.00 region.
Nearby resistance should appear near 15.690.00 to 15,760.00. A close over is friendly and augurs for a test of 15,925.00 and eventually the 16,090.00 to 16,150.00 region.
DEC E-MINI SP500
Resistance should appear near 1756.00 and 1774.00 to 1780 region. A close over is friendly and augurs for a test of the 1808.00 to 1822.00 region.
Support should appear near 1747.00 and the 1738.00 to 1731.00 region. Below that buyers should appear near 1696.00 to 1689.00.
Aggressive BW Traders should go long if a close over 1756.50 occurs.
NASDAQ COMPOSITE
Resistance should appear near 3909.00 to 3929.00 and the 3982.00 to 3992.00 region.
Support should appear near 3867.00 to 3858.00 and the 3806.00 to 3796.00 region.
DEC E-MINI NASDAQ 100
Support should appear near the 3270.00 to 3261.00 region.
Resistance should appear near 3377.00 to 3386.00.
BW Traders should go long if a close over 3353.00 occurs.
DEC E-MINI RUSSELL 2000
Resistance should appear at 1082.00 and 1096.00 to 1101.00.
Support should appear near 1068.00 to 1058.00
DEC 30 YR BOND
Resistance should appear near 134-07 then 134-21and 135-07
Support should appear near 133-07 then 132-21 and 132-07
DEC 10 YR NOTE
Resistance should appear near 127-21 then 128-07 and 128-21
Support should appear near 127-07 then 126-21 and 126-07
THE FRENZIED FOREX FRONT
DEC DOLLAR INDEX
Resistance should appear near 8119 to 8134 and 8194 to 8223
Support should appear near 8044 to 8029 and 7954 to 7939
DEC JAPANESE YEN
Resistance should appear near 10227 and 10320 to 10360. BW Traders can sell at 10317 and hold for lower prices.
Support should appear near 10136 to 10104, a close under is negative and augurs for a test of 10037 to 10021.
DEC EURO CURRENCY
Support should appear near 13340 and the 13100 to 13040 region.
Resistance should appear near 13640 then 13537 and 13615. BW Traders can sell at 13617 and risk 50 points. Beyond that sellers should appear near 13770 to 13830
DEC SWISS FRANC
Resistance should appear near 10960 to 11010 and 11087
Support should appear near 10890 then 10820 and the 10680 to 10580 region.
DEC BRITISH POUND
Support should appear near 16007 and 15927.
Resistance should appear near 16090 to 16150.
DEC CANADIAN DOLLAR
Resistance should appear near 9625 to 9641
Support should appear near 9542 to 9526 below that a test of 9445 to 9429 is likely
DEC AUSSIE DOLLAR
Support should appear near 9429 and 9347 to 9316.
Resistance should appear near 9526 to 9542
THE PRECIOUS METALS
DECEMBER GOLD
Resistance should appear near 1334.0 to 1346.0 region.
Support is near 1310.00 to 1304.0 and 1289.00.
DEC COPPER
Resistance should appear near 32610 to 32700 and 33190 to 33280.
Support should appear near 32130 to 31940 and 31570 to 31480
DECEMBER SILVER
Support should appear near 2134.0 to 2126.0
Resistance at the 2219.0 to 2226.0
THE EXCITING ENERGIES
JANUARY CRUDE OIL
Resistance should appear near 9526 to 9542 and 9625 to 941
Support should appear near 9445 to 9429 and 9347 to 9316
JANUARY HEATING OIL
Support should appear near should appear near the 28290 to 28200 region. BW Traders with Ice Water running thru their veins can buy at 28310 and risk a close under 28190 for three days in a row.
Resistance should appear 28740 to 28830 and 29280 to 29370.
JANUARY UNLEADED GAS
Support should appear near 24690 to 24610
Resistance should appear near 25620 to 25680.
JANUARY NATURAL GAS
Resistance should appear at 3613 to 3623.
Support should appear near the 3503 to 3493 region.
THE GRANDE’ GRAINS
JAN SOYBEANS
Support should appear near 1238 to 1232 below that buyers should appear near 1203 to 1192.
Resistance should appear near 1268 to 1274, beyond that a test of 1289 is likely.
DEC SOYOIL
Resistance should appear near 4163 to 4183
Support should appear near 3992 to 3982
DEC SOYMEAL
Resistance should appear near 416.3 to 418.3 and 423.8 to 424.9
Support should appear near 392.9 to 390.9 and the 386.7 to 385.8 region.
DEC CORN
Support should appear near and 418 ¼ to 416 ¼ and 399 ¼ to 398 ¼
Resistance should appear near 430 ½ to 431 ¾ and 442 ¼ to 448 ½.
DEC WHEAT
Resistance should appear near 665 ¾ to 667 ¼
Support should appear near 635 to 633 ¾
THE LIVELY LIVESTOCK
DEC CATTLE
Support should appear near 13100 to 13040.
Resistance should appear near 13340 to 13460.
FEB CATTLE
Support should appear near 13340 and 13217
Resistance should appear near 13460, a close over is friendly and augurs for a test of 13530.
DEC HOGS
Support should appear near 8772 to 8757 and 8682 to 8662
Resistance should appear near 8857 to 8872 and 8932 to 8967
FEB HOGS
Support should appear near 9157 to 9132 and 9062 to 9037
Resistance should appear near 9237 and 9317 to 9347
APRIL HOGS
Support should appear near 9237 and 9157 to 9137
Resistance should appear near 9427 to 9447
JUNE HOGS
Support should appear near 9837 to 9822.
Resistance should appear near 10022 to 10037
THE SATISFYING SOFTS
DEC COFFEE
Support should appear near 10360 to 10320 and 10140 to 10105
Resistance should appear near 10580 to 10680
DECEMBER COCOA
Resistance should appear near 2758 to 2775
Support should appear near 2620 to 2612
MARCH SUGAR
Resistance is near 1822 and 1858 to 1865.
Support should appear near the 1780 to 1774 region.
DEC COTTON
Support should appear near 7604 to 7587 and 7342 to 7328
Resistance is at 7836 to 7864 and 8029 to 8044
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
Thursday November 07, 2013 11:45 PM South Florida Beach Time
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