Economic and Investment Trend Analysis - Socio Economics - Forex - Bonds - Dow Jones - Nasdaq - SP500-
Precious Metals - Energy - Livestock - Grains - Softs
FuturesCom Investment Publications
Morning Comments, Thursday , May 23rd , 2002
Experienced Since 1979 - Serving Professional and Individual Traders World Wide since 1988
7690 Rockport Circle, Lake Worth, Florida 33467 Tel: 1-561-433-2995 http://www.futurescom.com
Description of Services Premier Service
The memorial day holiday schedule is listed t the end of today's newsletter .
Wed May 22nd, 2002
6:30 PM e.s.t
The ‘Frenzied’ Forex Front
June Yen
Recommended open BW position , long at 8082
Support should appear near 8044 to 8029 and 7991 .
Resistance should appear near the 8119 to 8134 region and 8194 to 8223 Beyond that an eventual test of the 8300 to 8315 region
June Euro Currency (EC)
Recommended open BW position , long at 9252
Support should appear at 9236 and 9156 to 9140 and 9101..Aggressive BW Traders can buy at 9102 and risk a close under 9039 for three days in a row.
Resistance is at the 9316 to 9347 region.
June Swiss Franc
Recommended open BW position , long at 6377
Resistance should appear near the 6417 to 6430 region.
Support should appear near 6350 to 6337 and 6305.
June British Pound
Support should appear near 14530 and 1.4376. BW Traders can buy at 1.4436 for a turn higher and hold for higher prices..
Resistance is at 1.4590 and 1.4710, a close over is friendly and augurs for a test of the 1.4840 to 1.4960 regions. .. Beyond that a test of 15290 to 15350 is likely.
BW Traders should go long id a close over 14714 occurs.
June Canadian Dollar
Support should appear at 6509 to 6483.
Resistance is at 6577 to 6591
June Aussie Dollar
Support is at 5553 and 5504 to 5492
Resistance is at 5577 and 5640 to 5653
The Sensational Stock and Bond Markets
Dow Jones Industrial Average
Resistance should appear near 10,185 and 10,257 ..Beyond that sellers should appear near
10,320 to 10,360
Support should appear near 10,136 to 10,104 a close under augurs for a test of 10,037 to 10,021
June SP500
Resistance is at 1089 and 1096 to 1098.5 and 1101 , a close over 1101 is friendly and augurs for a test of 1115..5 .
Support should appear near 1082.. however an extended trade or close under is negative and augurs for a test of the 1068 to 1058 region .
*Stay Tuned for BW Updates and additional trades during the trading sessions..
Nasdaq Composite
Resistance is at 1689 to 1696 and 1731 to 1734 .
Support should appear near 1655 to 1642
June Mini Nasdaq 100
Nearby Resistance is at 1268 to 1274 and 1289 ...
Nearby support is at the 1238 to 1232 region.
Sept 10 Year T-Note
Resistance should appear near 104-23 and 105-07 which should cap a rally for a bit..Beyond that sellers should appear near 105-23
Support is at 104-04 and 103-23 which should contain a decline for a bit… .
Precious Metals
June Gold
recommended open BW position , long at 316.0
Support should appear at 315.7 to 314.8 and 310.2 to 309.2. BW Traders can buy at 307.1 and risk a close under 297.1 for three days in a row..
Resistance is at 319.4 to 321.3 . a close over 321.3 is friendly and augurs for a test of 331.9 to 332.8 and the 342.5 to 344.5 region.
Buy Dips and be long…
Recommended open BW position , short at 7320
Support should appear near the 7255 to 7240 and the 7170 to 7140 region.. Below that buyers should appear near 7090 to 7075.
Resistance should appear near 7325 to 7345.. Beyond that sellers should appear near 7415 to 7430...
July Silver
recommended open BW position , long at 478.0
Support should appear near 478.5 to 477.5 and 471.5 to 469
Resistance is at 484.5 to 485.5.. beyond that a test of the 491.5 to 493 region is likely .. .
The Exciting Energies
July Crude Oil
recommended open BW position , long 2 at 2673
Support should appear near 2620 to 2612 and 2568 to 2552 .
Resistance is at 2663 to 2672 and 2716 to 2724
July Unleaded Gas
Recommended open BW position , long at 7965
Support should appear near 7955 to 7935 and 7865 to 7835 . Which should contain a decline for a bit...
Resistance is at 8115 to 8140 and 8195 to 8225 ..
July Heating Oil
recommended open BW position , long at 6845
Resistance is at 6805 to 6835 and the 6905 to 6920 region
Support should appear near 6755 to 6740 and 6670 to 6655
The Lively Livestock
June Live Cattle
recommended open BW position , long at 6037
Nearby Support should appear at 5957 to 5942 and 5882. .
Resistance is at 6022 to 6037 and 6102 to 6117
June Hogs
Recommended open BW position , long at 4917
Support is at the 4787 to 4772 and 4717 to 4692 .
Resistance is at 4842 to 4857 and 4912 to 4927 .
July Pork Bellies
recommended open BW position , long at 6192
Support should appear at 5957 to 5942 and 5882 to 5852
Resistance is at 6022 to 6037 and 6102 to 6122.
-Stay tuned for Livestock and Belly Updates and Flashes-
July Soybeans
Recommended open BW position , long at 493
Resistance is at the 497 1/4 to 499 1/2 . Beyond that a test of 503 3/4 to 506 3/4 and the
512 3/4 to 513 1/2 region is likely..
Support should appear at 492 1/2 to 491 1/2 and 485 3/4 to 484 1/2 under that buyers should appear near 478 3/4 to 477 1/2 .. BW Traders can buy at 479 1/4 and hold for higher prices.. Below that support is at
471 3/4 to 469 1/2
July Soybean Meal
Support should appear near 164.2 and 161.5 to 160.9,which should contain a decline for a bit..
BW Traders can buy at 161.7 and risk a close under 160.7 for three days in a row.
Resistance is at 165.5, a close over is friendly and augurs for a test of the 168.9 to 169.6 region
BW Traders should go long if a close over 165.7 occurs..
July Soybean Oil
Support is near 1774 and 1756 .. Below that buyers should appear near 1738 to 1731 and 1696 to 1689 . BW .Traders can buy at 1692 and hold for higher prices.. Below that support is at 1655 to1642 .
Resistance should appear near 1794 and the 1808 to 1822 region.
July Corn
recommended open BW position , long at 208 3/4
Resistance should appear near 208 to 208 3/4
Support is at 206 1/4 and the 204 1/2 to 203 1/2 region. ..
July Wheat
Support should appear at 267 1/4 to 266 1/2. ..BW Traders can buy at
267 1/2 and risk a close under 261 1/4 for three days in a row..
Resistance is at 271 3/4 to 272 1/2 .
The Satisfying Softs
July Cocoa
Resistance is at 1569 to 1576 and 1609 to 1615.
Support should appear near the 1535 to 1529 region. BW Traders can buy at 1537 and risk a close under 1479 for three days in row
BW Traders should go long if a close over 1617 occurs..
July Coffee
recommended open BW position , long at 5145
Support is near 5065 to 5035 and 4995 to 4970.. BW Traders can buy at 5005 and risk a close under 4905 for three days in a row.
Resistance should appear near 5125 to 5140 and 5200 to 5210
July Sugar
Support should appear near 562 to 558 and 534 and 523 Traders can buy at 536 and hold for higher prices..
Resistance should appear near 582 to 586. A close over 589 is friendly and augurs for a test of the 601 to 609 and the 630 to 634 region.
BW Traders should go long if a close over 591 occurs
July Cotton
Recommended open BW position , long at 3645
Support should appear near 3685 to 3665 and 3625 to 3610.. Below that buyers should appear near the 3565 to 3550 region.
Resistance is at 3735 to 3745 and 3795 to 3805 .. beyond that a test of the 3855 to 3865 region is likely.
Trade Accordingly and stay tuned for updates..
A Ship in Harbor is Safe.. But that is not what ships are built for --
Happy Trading !
Bill
bill@futurescom.com
1--561-433-2995
Wed May 22nd, 2002
7:25 PM South Florida Beach Time
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 ARE 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.
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FuturesCom Investment Publications Copyright@1996-2002 all rights reserved
U.S. government offices, banks, financial and commodity markets will be closed Monday, May 27, for Memorial Day, a holiday. Some markets also will close early Friday, May 24.
CBOT: Chicago Board of Trade open outcry financial contracts will close at 1200 CT Friday.
On electronic a/c/e trading, financials and metals contracts will close at 1230 CT Friday.
Overnight a/c/e trading will be closed Sunday. Electronic trading will reopen at normal evening times Monday.
At the CBOT's MidAmerica Commodity Exchange, currency contracts will close at 1215 CT Friday.
CME: Chicago Mercantile Exchange commodity, currency, interest rate and Goldman Sachs Commodity Index contracts will close at 1200 CT Friday, with commodity options at 1202 CT. Globex closes at 1200 CT Friday for commodity products and 1515 CT for foreign exchange, interest rate, equity and index products. Globex opens at 1730 CT Sunday and stops at 1030 CT Monday, reopening at 1730 CT Monday.
NYBOT: On the New York Board of Trade's subsidiary the New York Futures Exchange, CRB contracts will close at 1315 ET Friday. On the Coffee, Sugar and Cocoa Exchange, the S&P Commodity Index will close at 1315 ET Friday.
On Finex, all products traded on the day session will close at 1300 ET Friday.
NYMEX: New York Mercantile Exchange aluminum and palladium futures and options will close at 1200 ET Friday, with copper and silver at 1205 ET, platinum and gold at 1210 ET and energy at 1300 ET. Access trading is closed Sunday evening and reopens at 1900 ET Monday.