Economic and Investment Trend Analysis - Socio Economics - Forex - Bonds - Dow Jones - Nasdaq - SP500
Precious Metals - Energy - Livestock - Grains - Softs
FuturesCom Investment Publications
Morning Comments, Friday November 29th, 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
Thursday, November 28th, 2002
12:30 PM , Eastern
FuturesCom Investment Publications Since 1989
Economic and Investment Trend Analysis Since 1979
Global Equities - Forex - Precious Metals - Bonds- Energy - Agricultural Markets - Socio Economics
Palm Beach County, Florida Tel: 561-433-2995 Fax: 561-963 -7520
Bi-Weekly Investment Outlook
December 1st, 2002
Saturday, November30th, 2002
4:00 AM eastern standard time
The ‘Frenzied’ Forex Front
December Yen
Support should appear near the 8134 to 8119 , a close under is negative and indicates a test of 8044 to 8029.. Below that support should appear near 7954 to 7939 and the 7864 to 7836 region. Traders can buy at 7867 and risk a close under 7755 for three days in a row.
Resistance should appear near 8164, a close over is friendly and augurs for a test of 8194 to 8223.. Above that sellers should appear near the 8300 to 8314 region . Traders can sell at 8297 for a turn lower and risk a close over 8318 for three days in a row. Beyond that sellers should appear near 8391 to 8406
Aggressive Traders can go short if close under 8116 occurs…
December Euro Currency (EC)
Recommended Open BW Position Long at 2 at 9961 avg
Support should appear at 9921 then 9879 and the 9837 to 9821 region. Below that buyers should appear near 9779 and the 9737 to 9706 region. Failure there indicates a test of 9641 to 9625.. which should contain a decline for a bit
Resistance is at 9979 an extended trade of close over augurs for a test of the 1.0021 to 1.0037 region.
Beyond that sellers should appear near 1.0071 and the 10104 to 10136 region.. Beyond that an eventual test of 10320 to 10360 is likely.
December Swiss Franc
Recommended Open BW Position Long at 6868
Resistance should appear near 6741 to 6755 then 6782 and the 6809 to 6836 region. Beyond that a test of the 6909 to 6919 region is likely to occur.
Support should appear near 6709 and the 6673 to 6659 region .. Below that 6591 to 6577
should contain a decline.
Traders should go long if a close over 6759 occurs
December British Pound
Recommended Open BW Position Long at 15768
Support should appear near 1.5526 and the 1.5350 to 1.5290 region..
Resistance should appear near the 1.5612 and the 1.5690 to 1.5760 region. .
December Canadian Dollar
Support should appear near 6350 to 6337, Traders can buy at 6354 and risk a close under 6332 for three days in a row. Below that buyers should appear near 6305 and the 6270 to 6257 region
Resistance is at 6417 to 6430 and 6456.. Beyond that a test of 6483 to 6509 is likely.
December Aussie Dollar
Recommended Open BW Position Long at 5582
Support is at 5577 to 5553. Under that buyers should appear near 5504 to 5492 and the 5430 to 5418 region.
Resistance is at the 5640 to 5653 region .. A closer over is friendly and augurs fore a test of 5716 to 5729 and the 5792 to 5805 region.
Traders should go long if a close over 5657 occurs.
The Sensational Stock and Bond Markets
Dow Jones Industrial Average
Nearby Resistance should appear near 8934 to 8964 where sellers should appear attempt to Cap an early rally. However a close over is friendly and augurs for a test of the 9044 to 9060 region. Beyond that resistance is at 9140 to 9156 then 9236 and the 9316 to 9347 region
Support should appear near 8871 to 8856 , a slip under augurs for a test of 8683 to 8668 and most likely the 8589 to 8560 region. Which should contain a decline for a bit.. However a close under is negative and augurs for a test of 8499 to 8484 and the 8406 to 8391 region.
December SP500
Recommended Open BW Position Short at 891.50
Nearby Resistance is at 938.80 and 942.80 to 944.50..Beyond that sellers should appear near 952.60 to 954.20and the 962.50 to 964.10 region.. beyond that sellers should appear near 970.60 to 973.70 and the 982.10 to 983.70 region and cap an advance for a bit..
Support should appear near 934.70 to 931.60 and 915..60 to 914.00 , a close under is negative and augurs for a test of 906.00 to 904.40 and the 896.40 to 893.40 region. Below that buyers should appear near 877.70 to 876.20
Nasdaq Composite
Nearby Resistance is at 1484 to 1496 then 1529 to 1535 and the 1569 to 1576 region ,which should cap a rally . Above that sellers should appear near 1609 to 1613
Support should appear near 1459 to 1453 an slip under augurs for a test of 1421 to 1415 A close under is negative and augurs for a test of the 11383 to 1377 and the 1346 to 1334 region.
December Mini Nasdaq 100
Resistance is at 1130.00 to 1136.00 and 1164 to 1169, beyond that a test of 1192 to 1203 is likely., a close over is friendly and augurs for a test of 1232 to 1238 and the 1268 to 1274 region , which should cap a rally for a bit.
Support is at 1092 then 1068 to 1058, a close under is negative and augurs for a test of 1036 to 1032 and the 1005 to 1000 region. Which should contain a decline
March Ten Year T-Notes
Resistance should appear near 111-07 and 111-23 which should cap a rally for a bit.. However close over is friendly and augurs for a test of 112-07 then 112-23 and eventually the 113-04 to 113-27 region.
Support is at 110-23.. A close under is negative and augurs for a test of 110-04 and 109-23 , below that support is at 109-07 to 109-04 which should contain a decline for a bit… .
Precious Metals
Gold may continue its recognition as a safe haven next year in light of continued weakness of the dollar, low Feb Gold
Recommended Open BW Position Long at 319.1
Nearby Support should appear at the 315.7 to 314.8 region. Below that 310.2 to 309.2 should
contain a decline.
Resistance is at 319.4 to 321.3 and the 326.1 to 327.0 region..
March Copper
Support should appear near 7515 to 7485 and 7345 to 7325, a close under augurs for a test of
7170 to 7140.
.
Resistance should appear near 7605 and 7760 to 7780.. Beyond that sellers should appear near
7835 to 7865
March Silver
Recommended Open BW Position Long at 4.53
Support should appear near 442.5 below that buyers should appear near 438.5 to 437.0 and the 431.5 to 430.5 region. Under that support is at 425 to 423.5
Resistance is at 444.5 and 450.5 to 451.5 , a close over augurs for a test of 457.0 to 458.5. Beyond that sellers should appear near 463.5 to 465.5
The Exciting Energies
January Crude Oil
Support should appear near 2672 to 2663 and 2620 to 2612.. Traders can buy at 2647 and hold for higher prices,.. Below that Support is at 2568 to 2552.and the 2519 to 2511 region ..Which should contain a decline.
Resistance is at 2716 to 2724 and 2758 to 2775 . A close over is friendly and augurs for a test of 2820 to 2829. Beyond that sellers should appear near 2874 to 2883
Aggressive traders can go long if a close over 2727 occurs..
January Unleaded Gas
Recommended open BW position long 6995
Support should appear near 7170 to 7140 and the 7090 to 7075 region . Below that buyers should appear near 7005 to 6995.
Resistance is at 7240 to 7255 . A close over is friendly and augurs for a test of 7325 to 7340, a close over is friendly and augurs for a test of 7415 to 7430 and the 7485 to 7515 region.
January Heating Oil
Resistance is at 7605 and 7765 to 7770, a close over is friendly and augurs for a test of 7835 to 7865 and the 7940 to 7955 region.. Beyond that sellers should appear near 8025 to 8045
Support should appear near 7515 to 7485 and 7430 to 7415 Under that buyers should appear near
7345 to 7325 and the 7170 to 7140 region.
January Natural Gas
Resistance is at 4.249 and the 4.305 to 4.315 region Beyond that sellers should appear near 4.370 to 4.385
and 4.425 to 4.446
Support is at 4.183 to 4.163 and 4.120 to 4.110 which should contain a decline for a bit.. Below support at 4.056 to 4.046
The Lively Livestock
December Live Cattle
Recommended open BW position Short at 7482
Resistance should appear near 7487 to 7512 and 7587 to 7602.
Support is at 7432 to 7412, a close under augurs for a test of 7342 to 7327
February Live Cattle
Resistance should appear near 7876 and 7937 to 7957.. Beyond that sellers should appear near
8027 to 8047. .
Support is at 7832 , a close under is negative and augurs for a test of 7777 to 7762.. Failure there indicates a trade towards the 7692 to 7672 region..
Support is at 4652 to 4637 and 4517 to 4502 below that buyers should appear near 4382 to 4372..
Resistance is at 4692 to 4717 and the 4772 to 4787 region.
Stay tuned for updates
Support is at 5357 to 5342 and the 5282 to 5257 region a close under augurs for a test of 5212 to 5197 and the 5142 to 5127 region… Below that 5067 to 5037 should hold.. Traders can buy at 5127 for a turn higher and hold for higher prices..
Resistance is at the 5492 to 5507 and 5552 to 5577 .. traders can sell at 5492 and risk a close over 5587 for three days in a row,., Beyond that sellers should appear near 5637 to 5652 and 5717 to 5732..
February Pork Bellies
Support should appear at 8562 , a slip under augurs for a test of 8502 to 8482 and the 8407 to 8392 region.. Below that buyers should appear near 8317 to 8202.. Traders can buy at 8317 and hold for higher prices…Below that 8227 to 8192 should hold…
Resistance is at 8667 to 8682 A close over is friendly and augurs for a test of 8762 to 8777 and the
8932 to 8967 region. Which should Cap a rally for a bit.. Beyond that a test of 9042 to 9062 is likely..
Aggressive traders should go long if a close over 8692 occurs..
-Stay tuned for Livestock and Belly Updates and Flashes-
The Grande’ Grains
Jan Soybeans
Resistance is at 579 ½ to 580 ½ , beyond that sellers should appear near the 585 ½ to 588 region .. Above that a test of 610 ½ to 611 ½ is likely..
Support should appear near the 573 to 571 ¾ region. Below that 565 ¼ to 563 should contain a decline. Traders can buy at 565 3/4 and risk a close under 554 ¾ for three days in a row.. Under that buyers should appear near 543 to 541 ¾ .
Traders should go long if a close over 581 ¼ occurs..
January Soymeal
Support should appear near 165.5 to 164.2 and 161.5 to 160.9.. Below that buyers should appear near 157.6 to 156.9
Resistance is at 168.9 to 169.6. A close over augurs for a test of 173.1 to 173.8.. Beyond that sellers should appear near the 177.4 to 178.0 region
Traders should go long if a close over 169.9 occurs.
January Soybean Oil
Recommended Open BW Position, Long 2267
Resistance is near the 2315 to 2322 region, a close over augurs for a test of 2354 to 2370 . Above that sellers should appear near the 2411 to 2419 region.
Support should appear near 2275 to 2267 and 2226 to 2219. Below that support is at 2185 to 2170.
March Corn
Resistance should appear near 246 ¼ to 247 and the 251 ½ to 252 region.
Support is at 241 ¼.and the 237 to 235 ½ region.. Below that buyers should appear near
232 ¼ to 231 ½
Support should appear at and the 374 ½ to 373 ¾ region.. below that buyers should appear near 368 ¼ to 366 ¾ and the 356 ¼ to 355 ¼ region.
Resistance is at 385 to 386 ½ and 390 ¾ to 392 ¾ ..A close over is friendly and augurs for a test of 398 ¼ to 399 ¼ and eventually the 404 ¾ to 405 ¾ region.. Beyond that sellers should appear near 411 to 412 and the 416 ¼ to 418 ¼ region.
Traders should go long if a close over 393 ¼ occurs.
The Satisfying Softs
Support is at 1696 to 1689 and the 1615 to 1609 region.. Below that 1576 to 1569 should contain another collapse for a bit.. Under that support is at 1535 to 1529
Nearby Resistance should appear near 1731 to 1738 and 1774 to 1780 , a close over is friendly and augurs for a test of the 1808 to 1822 region. Beyond that sellers should appear near 1858 to 1868 then 1909 to 1922 and the 1946 to 1953 region.
Aggressive Traders should go long if a close over 1742 occurs.
Support is near 7005 to 6990 and the 6925 to 6905 region .. Below that buyers should appear near
6835 to 6805 and the 6755 to 6740 region . Traders can buy at 6755 for a bounce and risk a close under 6645 for three days in a row …Below that 6350 to 6335 should hold
Resistance should appear near 7075 to 7090 and the 7140 to 7170 region. Beyond that sellers should appear near 7325 to 7345 which should Cap a rally for a bit .. However a close over is friendly and augurs for a test of 7485 to 7515 and the 7760 to 7775 region..
Traders should go long if a close over 7185 occurs.
Support should appear near 739 to 735 and 712 to 704. Under that support should appear near the
686 to 682 and the 661 to 656 region.
Resistance should appear near the 763 to 767 region. A close over is friendly and augurs for a test of the 791 to 795. Beyond that sellers should appear near 814 to 823.
Monthly Sugar
March Cotton
Support should appear near 4997 to 4972 and the 4930 to 4915 region.. Below that buyers should appear near 4855 to 4845 and the 4785 to 4775 region.. Traders can buy at 4935 and risk a close under 4835 for three days in a row.
Resistance is at 5035 to 5065 and the 5125 to 5140 region.. A close over is friendly and augurs for a test of 5200 to 5215 and the 5345 to 5355 region. Beyond that sellers should appear near the 5490 to 5505 region.
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
Sunday, December 1st, 2002
11:00 AM , 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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