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 January 21st, 2003
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

Saturday January 18th, 2003
2:30 PM eastern standard time

The Dollar sank again last week as rather sluggish economic numbers and geopolitical turmoil reinforced steady dollar selling versus most other currencies.

While many may view the weakness in the dollar as flight from it, one has to also consider the situation as 'money just going back to where it came from' to be put to use at home.
Which i consider a good thing from a global economic perspective.

Against the back drop of an Armada of Ships traversing the seas towards Iraq, anti -war demonstrators have begun marching in cities world wide this weekend and UN Inspectors have begun turning up the heat on Saddam the Sadistic and his regime. Making matters even more interesting , the newly elected president of South Korea was quoted as saying the U.S. was considering attacking North Korea but decided on a diplomatic solution instead.. the diplomats are probably running around like preverbal 'chickens with their heads cut off '...

Needless to say next week should be interesting to say the least ...

                             The ‘Frenzied’ Forex Front
March Yen
Recommended Open Position , Short at 8482
Support should appear near the 8499 to 8484 and 8445
Resistance should appear near 8560 to 8589

March Euro Currency (EC)
Support should appear at 10580 and 10525 and 10470 .
Resistance is at 10680. Beyond that a test of 10730 is likely
Aggressive BW Traders should go long if a close over 1.0634 occurs..

March Swiss Franc
Resistance should appear near the 7328 to 7342 region., However an extended trade over augurs for a test of 7414 to 7428 and the 7586 to 7513 region.
Support should appear near 7306 and 7255 to 7242.. Below that buyers should appear near 7208 and 7170 to 7143.. BW traders can buy at 7177 for a bounce and hold for higher prices..

Aggressive BW traders should go long if a close over 7347 occurs.

March British Pound
Support should appear near 1.6090 and 1.6002 .. below that 1.5922 should contain a decline
Resistance should appear near 1.6150 region. A close over indicates a test of 1.6260 and eventually the 1.6420 to 1.6550 region BW Traders should go long if a close over1.6170 occurs

March Canadian Dollar
Support should appear near 6483 then 6456 and 6430 to 6417, BW Traders can buy at 6431 and risk a close under 6377 for three days in a row…
Resistance is at 6509 and 6577 to 6591 . Beyond that a test of 6659 to 6673 is likely.
BW Traders should go long if a close over 6516 occurs

March Aussie Dollar
Support is at 5880 to 5855 and 5830.
Resistance is at 5945 to 5957.

The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance should appear near 8668 to 8683.. beyond that a test of is likely to occur. and cap a rally .
Support should appear near 8560 and 8499 to 8484 which should contain a decline ...A close under augurs for a test of 8314 to 8300

March SP500
Resistance is at 904.40 to 906.00.. Above that sellers should appear near the 914.00 to 915.60 region.
Support should appear near 896.40 to 893.40 a slip under augurs for a test of the 887.10 to 885.60 region, which should contain a decline.

Nasdaq Composite
Nearby Resistance is at 1377 to 1383 and 1399
Support should appear near 1361.5 and 1346 to 1334

March Mini Nasdaq 100
Resistance is at 1032 to 1036 and 1047
Support is at 1018.5 and 1005 to 1000

March Ten Year T-Notes
Resistance should appear near 114-07 and 114-23
Support is at 113-23 and 113-04

The Precious Metals

Feb Gold
Recommended Open Position , Long 2 at 354.7 avg
Support should appear at 356.3 to 355.3 and 350.3 to 349.3..
Resistance is at 361.3 to 362.3 and the 366.3 to 368.2 region

March Copper
Recommended Open Position, short at 7315
Support should appear near 7585 and 7515 to 7485.
Resistance should appear near 7675 to 7690 and the 7760 to 7775 region.

March Silver
Recommended Open Position , Long at 481.5
Support should appear near 477.5 and the 471.5 to 469.5 region.
Resistance is at 484.5 to 485.5 and 491.5 to 493
Aggressive BW Traders should go long if a close over 494.5 occurs

The Exciting Energies

March Crude Oil
Support should appear near 3270 to 3261 then 3213 to 3194 and 3157 to 3148.
Resistance is at 3319 to 3328 and the 3377 to 3386 region. region..

March Unleaded Gas
Support should appear near 9060 to 9045 then 8965 to 8935 and 8875 to 8855.
Resistance is at 9155 then 9235 and 9315 to9345 ..

March Heating Oil
Resistance is at 8935 to 8965 and the 9040 to 9060 region. . Beyond that sellers should appear near 9315 to 9345
Support should appear near 8780 to 8760 then 8590 to 8560 and 8495 to 8480

March Natural Gas
Resistance is at 5.553 to 5.577 and 5.640 to 5.653
Support is at 5.577 to 5.553 and 5.492 and 5.430 to 5.418, under that 5.356 to 5.344 should hold..

The Lively Livestock

February Live Cattle
Resistance should appear near the 8027 to 8042 region.
Support is at 7957 to 7932 and the 7867 to 7836 region

February Lean Hogs
Support is at 5037 and 4997 to 4972.
Resistance is at 5067 and 5127 to 5142

February Pork Bellies
Recommended Open BW Position Long 2 at 8730 avg
Support should appear at 7867 to 7837 Under that support should appear near 7777 to 7762 and the
7692 to 7672 region
Resistance is at 7932 to 7957 and 8027 to 8042 .. A close over is friendly and augurs for a test of 8117 to 8132 and the 8192 to 8222 region..

- Stay tuned for Livestock and Belly Updates -

The Grande’ Grains

March Soybeans
Resistance is at 557 3/4 , beyond that a test of 564 to 565 1/4 is likely.
Support should appear near 550 1/4 to 549 1/2 then 543 to 541 3/4 and the 535 3/4 to 534 1/2 region..
BW Traders can buy at 535 3/4 and risk a close under 525 1/4 for three days in a row..

March Soymeal
Recommended Open Position , Long at 166.7
Support should appear near 165.5 to 164.2 and 161.5 to 160.9
Resistance is at 168.9 to 169.6.

March Soybean Oil
Resistance should appear near 2034 to 2042 and 2080 to 2088
Support should appear near the 1996 to 1982 region.

March Corn
Resistance should appear near 235 1/2 to 237.
Support is at the 231 1/2 and 227 1/2 to 226 3/4 region.

March Wheat
Support should appear at 314 3/4 and 310 1/4 to 309 1/2 which should contain the decline.. Under that buyers should appear near 304 1/2 to 303 3/4 |
Resistance is at 319 1/2 to 321 1/4.. Beyond that a test of 326 1/4 to 327 is likely.

The Satisfying Softs

March the ‘ Monster’ Coffee
Recommended Open Position, Long at 6315
Support is near 6590 to 6575 and 6510 to 6480.
Resistance should appear near 6655 to 6675 , a close over is friendly and augurs for a test of 6810 to 6835 and eventually the 6990 to 7005 region.. BW Traders should go long if a close over 6680 occurs

March Cocoa
Support is at the 2134 to 21256 and 2088 to 2080
Resistance should appear near the 2170 to 2185 and 2219 to 2226
BW Traders should go long if a close over 2189 occurs.

March Sugar
Recommended Open Position , Long at 787
Support should appear near 779 then 767 to 763 and 751
Resistance should appear near the 791 to 795 region .. Beyond that a test of 814 to 823 is likely.

March Cotton
Recommended Open Position , Long at 5070
Support should appear near 5065 to 5035 and 4995 to 4975..

Resistance is at 5125 to 5140 and the 5200 to 5215 region. ..
BW Traders should go long if a close over 5220 occurs..

A Ship in Harbor is Safe.. But that is not what ships are built for –

Happy Trading!
Bill
wil@futurescom.com
1-561-433-2995
Saturday January 18th, 2003
4:30 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.