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 December 26th, 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
“There is only one side of the market and it is not the bull side or the bear side, but the right side."
--Jesse Livermore--
The Christmas schedule is at the end of today's letter.
8:00 AM Eastern Standard Time
The ‘Frenzied’ Forex Front
Last Evening on the Asian Forex market the Dollar was steady , with no dramatic moves.
March Yen
Support should appear near 8314 to 8300 and 8223 to 8195
Resistance should appear near 8352 and 8391 to8406
March Euro Currency (EC)
Support should appear at 1.0212 then 10185 and 10137 to 10104
Resistance is at 1.0285 and the 1.0320 to 1.0360 region. .
March Swiss Franc
Resistance should appear near 7115, beyond that a test of 7143 to 7170 is likely.
Support should appear near 7088 to 7074 and 7038.
March British Pound
Support should appear near 1.5826 and 1.5760 to 1.5690 .
Resistance should appear near1.5912.. Beyond that a test of 1.6090 to 1.6150 is likely. .
March Canadian Dollar
Support should appear near 6430 to 6417
Resistance is at 6456..Beyond that a test of 6483 to 6509 is likely.
March Aussie Dollar
Support is at 5577 to 5553 and 5529
Resistance is at 5608 and 5640 to 5653 ... 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 8484 to 8499 then 8560 to 8589 and 8668 to 8683
Support should appear near the 8406 to 8391 region A close under augurs for a test 8314 to 8300
March SP500
Resistance is at 893.40 to 896.40 then 900.40 and the 904.40 to 906.00 region. Beyond that sellers should appear near 914.00 to 915.60.
Support should appear near 887.1 to 885.60, a slip or close under is negative and augurs for a test of 877.70 to 876.20
Nasdaq Composite
Nearby Resistance is at 1377 to 1383 and the 1415 to 1421 region
Support should appear near 1361.5 and 1346 to 1334
March Mini Nasdaq 100
Resistance is at 1032 to 1036 and 1058 to 1068.
Support is at 1005 to 1000 and 984.00 to 982.00
March Ten Year T-Notes
Resistance should appear near 114-07 and 114-22 . beyond that a test of 115-07 is likely
Support is at 113-23 and 113-17
The Precious Metals
Feb Gold
Support should appear at 344.3 to 342.5 and 338.6 to 337.7 . 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 349.3 to 350.3 and the 355.3 to 356.3 region.
March Copper
Support should appear near 7090 to 7070 and 7005 to 6990
Resistance should appear near 7145 to 7170 and 7240 to 7255.
March Silver
Support should appear near 465 to 463.5 and 458.5 to 457 .
Resistance is at 469.5 to 471.5 and 477.5 to 478.5
The Exciting Energies
Feb Crude Oil
Support should appear near 3194 then 3157 to 3148 and 3102 to 3092.
Resistance is at 3213, an extended trade over augurs for a test of 3261 to 3270 and the 3319 to 3328 region
Feb Unleaded Gas
Resistance should appear near 9235 Beyond that a test of 9315 to 9345 is likely... Above that resistance is at 9425 to 9445
Support is at 9155 to 9140 then 9060 to 9045 and 8965 to 8935
Feb Heating Oil
Resistance is at 9045 to 9060 and 9140 to 9160
Support should appear near 8870 to 8855 and 8775 to 8620 .
Feb Natural Gas
Resistance is at 5.211 and 5.259 to 5.282
Support is at 5.139 to 5.127 and 5.067 to 5.036 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 and 8025 to 8045
Support is at 7867 to 7832 and 7777 to 7767
February Lean Hogs
Support is at 5282 to 5257 and the 5212 to 5197 region. Below that 5142 to 5127 should hold.
Resistance is at the 5342 to 5357 and the 5417 to 5432 region . Beyond that sellers should appear near 5492 to 5507 . BW Traders can sell at 5492 and risk a close over 5587 for three days in a row,.,
February Pork Bellies
Recommended Open BW Position Long at 8850
Support should appear at the 8777 to 8762 and 8682 to 8667…
Resistance is at 8857 to 8872 , a close or extended trade over is friendly and augurs for a test of 8932 to 8967 and the 9043 to 9062 ..
-Stay tuned for Belly Updates and Flashes-
The Grande’ Grains
Traders should cancel any open orders in Jan Beans
March Soybeans
Resistance is at 571 3/4 to 572 1/2 and 579 1/4 to 580 1/2
Support should appear near 565 1/2 to 564 and 557 3/4 to 555 1/2..
* BW Traders should go long if a close over 572 3/4 occurs..
March Soymeal
Support should appear near 165.5 to 164.2 and 161.5 to 160.9.
Resistance is at 168.9 to 169.6. A close over augurs for a test of 173.1 to 173.8..
BW Traders should go long if a close over 169.9 occurs
March Soybean Oil
Recommended Open BW Position Long at 2138
Resistance should appear near 2219 to 2226 and the 2267 to 2277 region.
Support should appear near 2185 to 2170 and 2134 to 2126 and 2088 to 2080.
March Corn
Resistance should appear near 246 1/4 to 246 3/4
Support is at the 241 3/4 to 241 1/4 and the 237 to 235 1/2 region.
March Wheat
Recommended Open BW Position Long at 2 at 350 3/4
Support should appear at 344 1/4 to 342 1/2 and the 338 3/4 to 337 1/2 region.
Resistance is at 349 1/4 to 350 1/2 , a close over is freindly and augurs for a test of 355 1/4 to 356 1/4
The Satisfying Softs
Support should appear near the 5210 to 5195 and the 5140 to 5125 region.. Below that buyers should appear near 5065 to 5035..
Resistance is at 5255 to 5285 and the 5345 to 5355 region. Beyond that sellers should appear near the 5490 to 5505 region.
Ship in Harbor is Safe.. But that is not what ships are built for –
Happy Trading ! and Have a Safe and Happy Holiday !!
Bill
wil@futurescom.com 1-561-433-2995
Wed, December 25th, 2002
9:15 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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FuturesCom Investment Publications Copyright@1996-2002 all rights reserved
Market Schedules for the Christmas Holiday
Chicago Board of Trade
Dec. 25: Closed
Chicago Mercantile Exchange
Dec. 25: Closed
Kansas City Board of Trade
Dec. 25: Closed
Minneapolis Grain Exchange
Dec. 25: Closed
New York Board of Trade
Dec. 25: Closed
Dec. 26: Coffee, sugar and cocoa products on the Coffee, Sugar & Cocoa Exchange will not trade.
New York Mercantile Exchange
Dec. 25: Closed
Winnipeg Commodity Exchange
Dec. 25: Closed
Dec. 26: Closed
International Petroleum Exchange
Dec. 25: Closed
Dec. 26: Closed
Dec. 27: close early at 1730 GMT.
London International Financial Futures and Options Exchange
Dec. 25: Closed
Dec. 26: Closed
London Metal Exchange
Dec. 25: Closed
Dec. 26: Closed
Dec. 27: Closed