FuturesCom Investment Publications Since 1989 Economic and Investment Trend Analysis Since 1979

Economic and Investment Trend Analysis - Socio Economics - Forex - Bonds - Dow Jones - Nasdaq - SP500
Precious Metals - Energy - Livestock - Grains - Softs

FuturesCom Investment Publications
Morning Comments, Tuesday December 17th, 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

The ‘Frenzied’ Forex Front

Monday December 16th, 2002
2:30 PM Eastern Standard Time

March Yen
Recommended Open BW Position short 8277
Support should appear near 8223 to 8195
Resistance should appear near 8300 to 8314

March Euro Currency (EC)
Support should appear at 10137 to 10104 Below that buyers should appear near 10079 and the 10037 to 10021 region which should contain a decline for a bit
Resistance is at 10185 and 10225 an extended trade of close over augurs for a test of the 1.0320 to 1.0360 region. Beyond that sellers should appear near 1.0470 and the 10580 to 10630 region..

March Swiss Franc
Recommended Open BW Position Long at 6780
Resistance should appear near 6990 to 7003
Support should appear near 6919 to 6906.

March British Pound
Support should appear near 1.5760 to 1.5690..
Resistance should appear near the 1.5826 and 1.5912

March Canadian Dollar
Support should appear near 6350 to 6337, BW Traders can buy at 6354 and risk a close under 6332 for three days in a row.
Resistance is at 6417 to 6430

March Aussie Dollar
Support is at 5608 and 5577 to 5553.
Resistance is at the 5640 to 5653 region ..
BW Traders should go long if a close over 5657 occurs.

The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance should appear near the 8668 to 8683 region. Beyond that resistance is at 8762 to 8777
Support should appear near 8589 to 8560

March SP500
Recommended Open BW Position Short at 905
Nearby Resistance is at 914.00 to 915.60 and the 931.60 to 934.70 region and cap an advance for a bit..
Support should appear near 906.00 to 904.40 and 896.40 to 893.4

Nasdaq Composite
Nearby Resistance is at the 1415 to 1421 region ,which should cap a rally . Above that sellers should appear near 1453 to 1459
Support should appear near 1399 and 1383 to 1377

March Mini Nasdaq 100
Resistance is at 1058 to 1068, a close over is friendly and augurs for a test of 1096 to 1101, which should cap a rally for a bit.
Support is at 1036 to 1032 and 1005 to 1000,

March Ten Year T-Notes
Resistance should appear near 112-07 then 112-17 and 112-23
Support is at 111-23 . A close under is negative and augurs for a test of 111-04 and 110-23 , below that support is at 110-07 which should contain a decline for a bit… .

Feb Gold
Recommended Open BW Position Long at 337.6
Nearby Support should appear at the 332.8 to 331.9 region. Below that 327 to 326.1 should
contain a decline. BW Traders can buy at 327.1 for a bounce and hold for higher prices..
Resistance is at 337.7 to 338.6 and the 342.5 to 344.3 region..

March Copper
Support should appear near 7255 to 7240 and 7170 to 7140
Resistance should appear near 7325 to 7345 and 7415 to 7430.

March Silver
Support should appear near 469.5 below that buyers should appear near 465 to 463.5 and the 458.5 to 457 region.
Resistance is at 477.5 to 478.5 and 484.5 to 485.5

The Exciting Energies

Feb Crude Oil
Recommended Open BW Position Long 2 at 2924 avg
Support should appear near 2990 to 2972 and 2937 to 2928.
Resistance is at the 3036 to 3045 region..Beyond that sellers should appear near 3092 to 3102

Feb Unleaded Gas
Resistance should appear near 8665 to 8685 and the 8760 to 8775 region

Support is at 8550 and 8500 to 8485 , under that 8405 to 8390 should hold.

Feb Heating Oil
Resistance is at 8495 and 8560 to 8590, a close over is friendly and augurs for a test of 8760 to 8775

Support should appear near 8405 to 8390 and 8315 to 8300.

Feb Natural Gas
Resistance is at 5.344 to 5.356, a close over is friendly and augurs for a test of 5492 to 5504. Beyond that sellers should appear near 5.553 to 5.577.. Beyond that sellers should appear near the 5855 to 5880 region and cap a rally..
Support is at 5.282 to 5.259 and 5.211 to 5.200. Below that buyers should appear near 5.067 to 5.036 which should contain a decline for a bit.. Below buyers should appear near 4.926 to 4.915 and contain a decline ..

The Lively Livestock
February Live Cattle
Resistance should appear near 7937 to 7957.. Beyond that sellers should appear near 8027 to 8047. .
Support is at 7867 to 7832 and 7777 to 7762.. .

February Lean Hogs
Support is at the 5142 to 5127 region… Below that buyers should appear near 5067 to 5037 and the 4997 to 4972 region, which should hold.. BW Traders can buy at 5002 for a turn higher and hold for higher prices.. Risk a close under 4907 for three days in a row.
Resistance is at the 5200 to 5212 and 5342 to 5357

February Pork Bellies
Recommended Open BW Position Long at 8250
Support should appear at 8482 and the 8407 to 8392 region.. Below that buyers should appear near 8317 to 8202.. BW Traders can buy at 8317 and hold for higher prices…

Resistance is at 8562 to 8587 and the 8667 to 8682 region. A close over is friendly and augurs for a test of 8762 to 8777

Aggressive BW traders should go long if a close over 8692 occurs..

-Stay tuned for Livestock and Belly Updates and Flashes-

The Grande’ Grains

Jan Soybeans
Recommended Open BW Position Long at 565 3/4
Resistance is at 565 to 565 1/2 and 570 3/4 to 572 3/4
Support should appear near 557 3/4 to 555 1/4 and 550 1/2 to 549 1/4

March Soymeal
Support should appear near 164.2 and 161.5 to 160.9.. Below that buyers should appear near 157.6 to 156.9
Resistance is at `165.5 and 168.9 to 169.6.
BW Traders should go long if a close over 169.9 occurs.

March Soybean Oil
Resistance should appear near 2185 and 2219 to 2226
Support should appear near 2170 and 2134 to 2126. .. BW Traders can buy at 2138 for a bounce and risk a close under 2112 for three days in a row..

March Corn
Resistance should appear near 2411/4 to 242
Support is at the 237 to 235 1/2 region.. Below that buyers should appear near 232 1/4 to 231 1/2

March Wheat
Support should appear at and the 350 3/4 to 349 1/4 below that buyers should appear near
344 1/4 to 342 1/2
Resistance is at 355 1/2 to 3561/4..A close over is friendly and augurs for a test of 366 1/2 to 368 1/4 and eventually the 373 3/4 to 374 1/4 region..

BW Traders should go long if a close over 356 1/2 occurs.

The Satisfying Softs
March Cocoa
Support is at 2042 to 2034 and the 1996 to 1982 region..

Resistance should appear near 2080 to 2088 , a close over is friendly and augurs for a test of 2126 to 2134 and the 2170 to 2185 region.

March Coffee
Recommended Open BW Position, Long 6755
Support is near 6035 to 6020 and 5960 to 5945
Resistance should appear near 6335 to 6350 . Beyond that sellers should appear near 6655 to 6675 which should Cap a rally for a bit ..

March Sugar
Support should appear near 751and 739 to 735 and 712 to 704.
Resistance should appear near the 763 to 767 region. A close over is friendly and augurs for a test of the 791 to 795 region
BW Traders should go long if a close over 771 occurs.

March Cotton
Recommended Open BW Position Long at 5080
Support should appear near the 4930 to 4915 region.. Below that buyers should appear near the
4785 to 4775 region
Resistance is at 4970 to 4995 and 5035 to 5065 A close over is friendly and augurs for a test of 5200 to 5215 .

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

Monday, December 16th, 2002

3:45 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.