FuturesCom Investment Publications
Morning Comments (MC) May 07, 1999
Bonds.. SP500.. Forex.. Precious Metals.. Energies..Grains.. Livestock.. Softs
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Our next Bi-Weekly will be issued this weekend, currently there are no open recommended BW positions. performance figures can be reviewed at   http://www.futurescom.com/bweek.htm
 

On the Frenzied Forex Front

June Japanese-Yen

Nearby Support is at 8314 to 8300 and 8269 to 8246.

A close under 8300 is negative and augurs for a test of 8223 to 8194 where.

Resistance is at 8346 to 8351 and 8391 to 8406, Beyond that resistance is at 8444 to 8456. A close over 8351 is friendly and augurs for a touch of the 8406 region.

Support is at 5528 then 5504 to 5491 and 5471 and 5453.

Resistance is at 5553 to 5577

BW Traders can sell at 5555 and risk a close over 5577 for three days in a row.

Support is at 6707 to 6691 and 6673 then 6641.

Resistance is at 6755, beyond that resistance is at 6794 and the 6809 to 6836 region.
BW Traders can sell at 6836 and hold for lower prices. Risk a close over 6871 for three days in a row.

Nearby Support should appear near 1.6364, day traders can buy at 1.6364 and hold for higher prices... Under that support is at 1.6304 and 1.6286
Resistance is at 1.6420 and 1.6486 and 1.6550

Support should appear at 6861. Day traders can buy at 6870 for a turn higher, risk 20 pts. Below that support is at 6836 and 6818 to 6809.

Resistance should appear at 6906 to 6918 and 6926. Beyond that resistance is at
6990 to 7005.

Stay tuned for Forex flashes

Support is at 290.10 to 289.5 and 284 to 283.

Resistance is at 291.90 and 292.60 to 294.30.

Trade accordingly

Support is at 7260 and 7240 to 7210. A close under 7210 augurs for a test of 7095..

Resistance is at 7295 and 7330 beyond that a test of 7450 is likely.

Support is at 354.5 and 352.5.

Resistance is at 360 to 362 beyond that a test of 365 is likely. A close over 365 augurs for a test of 372. BW Traders should go long if a close over 358.90 occurs. .

On the DownSide: Support is at 535.5, Day traders can buy at 535.5 and hold for higher prices. Below that support at 526 to 522 should hold

On the Upside. Resistance is at 542.5 and 553.0 . Beyond that resistance is at 563.5.

Nearby Support is at 1822 and the 1805 to 1787 region. Day Traders can buy at 1787 and risk for a turn higher risk 30 pts. Below that support is at 1774.

Nearby Resistance should appear  1830 and the 1855 to 1869 region beyond that sellers should appear near 1880 and the 1902 to 1909 region.

Nearby Support is at 5255 and 5220. Under that buyers should appear near 5140 Below that the 5065 to 5035 region should contain a decline in the near future.

Resistance is at 5457 and 5534 then 5595.

Support is at 4390 and 4350. Below that 4315 to 4304 should contain the decline..

Resistance is at 4502 and 4572 to 4595 .

Support is at 480 3/4 and 479 3/4 below that 472 should hold.

Resistance is at 484 to 485 a close over 485 3/4 is friendly for a test of 489 and

eventually 493.

Support is at 131.1 and 129.60 to 127.4 below that 125.5 and the 123.8 to 123.2
region should hold. BW Traders can buy at 127.40 and hold for higher prices. .

Resistance is at 132.8 Beyond that resistance is at 134..6.
BW Traders should go long if a close over 134.6 occurs.

Day traders can buy at 1912 and , risk 50 pts.

Resistance is at 1953 and 1961, beyond that 1982 to 1986 offers resistance .

Support is at 217 and 214 3/4 to 212

Resistance is at 221 to 222 and 224

.

Support is at 2613/4 and 256 to 254

Resistance is at 263 1/2 and the 266 1/2 to 267 3/4 region. A close over 268 is friendly. BW Traders should go long if a close over 270 1/2 occurs.

On the Upside resistance is at 5945 to 5957 and 5985 to 5995 a close over 5957 is friendly and augurs for a test of 6022 to 6035, beyond that resistance is at 6080

On the DownSide support is at 5905 and 5885 to 5855. Day traders can buy at 5885 and hold for higher prices... Below that support is at 5792 to 5780.

Support should appear near the 476 to 471 region. Below that 449 to 446 should hold. Day traders can buy at 449 and hold for higher prices.

Early Resistance is at 483 and 490 to 493, Beyond that sellers should appear near the 507 to 515 / 520 region..

On the DownSide, support is at 102.55. Below that support at 101.80 to 101.65. Day traders can buy at 102.65 and hold for higher prices... Below that support is at 101.80 to 101.65.

On the Upside, Resistance is at 103.20 to 103.60 then 104.80 to 105.10.

Beyond that resistance is at 105.80/ 106.00 and 106.90 to 107.40

A close over 103.60 is friendly and augurs for a test of 106.80.

Support is at 1038 and 1032 under that support is at 1005 to 1000.

Resistance is at 1058 to 1068 and 1077

Support is at 6112 and 6092 under that a 6042 to 6022 should contain

the decline today.

A close over 6192 is friendly and augurs for an eventual test of 6332.

Support is at 5867 and 5807 to 5792 and 5772.. Day Traders can buy at 5762 and hold for higher prices. Under that BW Traders can buy at 5717 and hold.

Resistance is at 5912 and 5947 to 5957. Beyond that resistance is at 6035 and 6072.

Stay Tuned for Flashes the Pork Complex.

Nearby Support is at 5912 and 5882 to 5857 . Under that support is at 5787 and 5652 to 5637.

Resistance is at 5942 to 5957. Above that resistance is at 6022 to 6037 and 6087

Beyond that resistance is at 6162 to 6192.

Stay Tuned for Flashes the Pork Complex.

On The DownSide nearby support is at 118-16 to 118-03, below that good support should surface at 117-26 to 117-12. Day traders can buy at 117-14, risk 10 pts,

Below that support is at 116-26.

On the Upside: Resistance is at 118-26 and 119-02. Beyond that resistance is at 119-14 and 119-26 then 120-14.

June SP 500
Support is at 1340 to 1339.60 Under that support should appear near the 1334 region. Beneath that buyers should appear near 1329.10 and 1323.60 to 1322 . Below that support should appear near the 1310 to 1306 / 1304 region should hold..

Resistance is at 1345.80 to 1346 and 1355.70 and extended trade over 1355.70 augurs for a touch of 1361.50. Above that resistance is near 1367.10. Beyond that sellers should appear near 1370.80 and 1377. A close over 1361.50 augurs for a test of 1376.50. to 1377.

support is at 10,756.20 and 10,680 the 10,630 where it should hold on a hard decline.. .

Resistance is at 10,944 then 10,960 to 10,985 and 11,010 beyond that resistance is at 11,045. Beyond that 11,155 should cap a rally