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 May 6th, 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

Monday May 5th, 2003
2:30 PM eastern standard time

The ‘Frenzied’ Forex Front

June Yen
Recommended Open Position Long at 8424
Support should appear near 8406 then 8353 and 8314 to 8300 BW Traders can buy at 8354 and hold for higher prices.

Resistance should appear near the 8484 to 8499 region …

June Euro Currency (EC)
Recommended Open Position Long at 11264
Support should appear at 11227 then 11155 and 11083. Below that buyers should appear near the 11020 to 10960 region. BW Traders can buy at 11027 for turn higher and risk a close under 10952 for three days in a row.

Resistance is at the 11300 to 11360 region.. Beyond that a test of 11500 is likely .

June Swiss Franc
Recommended Open Position Long at 7458
Resistance should appear near 7457 and the 7486 to 7513 region.

Support should appear near 7428 to 7414. BW Traders can buy at 7417 and hold for higher prices.. Below that buyers should appear near 7342 to 7328.
Aggressive BW traders should go long if a close over 7457 occurs.

June British Pound
Support should appear near 1.5960 and 1.5862.. Below that 1.5760 to 1.5690 should contain decline
BW Traders can buy at 1.5968 and risk a close under 1.5852 for three days in a row.

Resistance should appear near the 1.6090 to 1.6150 region.. Beyond that test of 1.6420 to 1.6550 is likely.. BW Traders should go long if a close over 1.6158 occurs

June Canadian Dollar
Recommended Open Position Long at 7067
Support should appear near 7002 to 6990

Resistance is at 7074 to 7088, a close over is friendly and augurs for a test of 7143 to 7170 .

June Aussie Dollar
Support is at 6270 to 6257 and the 6190 to 6165 region. BW Traders can buy at 6193 and risk a close under 6137 for three days in a row ..

Resistance should appear near the 6335 to 6350 region .. Beyond that a test of 6417 to 6430 is likely.
BW Traders should go long if a close over 6354 occurs.

The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance should appear near 8589 and 8668 to 8683.. Beyond that a test of 8762 to 8777 is likely. Above that sellers should appear near 8856 to 8871 and the 8934 to 8964 region.

Support should appear near 8499 to 8484 an extended trade or close under augurs for a test of 8406 to 8391 and the 8314 to 8300 region…Below support should appear near 8223 to 8194 and the
8134 to 8119.

June SP500
Recommended Open Position Short at 931.50
Resistance is at should appear near 931.60 to 934.70 and 942.90 to 944.50…Beyond that sellers should appear near 952.60 to 954.20 then 962.50 to 964.10 and the 970.60 to 973.70 region. Which should cap a rally. BW Traders Who Have Ice Water Running through their veins can sell at 961.30 and hold for lower prices…

Support should appear near 923.60 and 915.60 to 914.00. An extended trade or close under is negative and augurs for a test of 906.00 to 904.40.. Failure there augurs for a test of 896.50 to 893.40 eventually the 887.10 to 885.60 region… Which should contain a decline.. Aggressive BW Traders should go short if a close under 923.10 occurs

Stay tuned for BW SP500 Updates and Index program trades , while day trades can occur at anytime

Nasdaq Composite
Resistance 1529 to 1535 and the 1569 to 1576 region.. Beyond that 1609 to 1615 should cap a rally.

Support should appear near 1496 to 1484 , a close under augurs for a test of 1459 to1453 and eventually the
1421 to 1415 region.

June Mini Nasdaq 100
Resistance is at 1164 to 1169 and 1192 to 1203 and the 1232 to 1238 region , which should cap a rally
for some time..

Support is at 1136 to 1132. A slip under is negative and augurs for a test of 1101 to 1096 region. Below that buyers should appear near 1068 to 1058, which should contain a decline for a bit

June Ten Year T-Notes
Resistance should appear near 115-07.. A close over is friendly and augurs for a test of 115-22 and 116-04

Support is at 114-23 and 114-07.. Below that buyers should appear near 113-23 ..BW Traders can buy at 113-27 for a bounce and hold for higher prices , risk a close under 113-04 for three days in a row.

BW Traders should go long if a close over 115-08 occurs.

The Precious Metals

June Gold
Support should appear at 338.6 to 337.6 and the 332.8 to 331.9 region, which should hold.. BW Traders can buy at 338.9 for a bounce , risk a close under 331.5 for three days in a row. Below that buyers should appear near the 327.0 to 326.1 region.

Resistance is at 344.3 , a close over is friendly and augurs for a test of 349.3 to 350.3 and eventually the 355.3 to 356.3 region . BW Traders should go long if a close over 344.7 occurs

July Copper
Support should appear near 7170 to 7140 , a close under augurs for a test of 7090 to 7075 and the 7005 to 6990 region..
Resistance should appear near the 7240 to 7255 and the 7325 to 7340 region. BW Traders can sell at 7245 and risk a close over 7365 for three days in a row. Above that resistance should appear near the 7415 to 7425 region
BW Traders should go short if a close under 7135 occurs

July Silver
Support should appear near 478.5 to 477.5 then 471.5 to 469.5 and the 465 to 463.5 region..
BW Traders can buy at 465.5 and hold for higher prices.. Risk a close under 457 for three days in a row.

Resistance is at 484.5 to 485.5 and the 491.5 to 492.5 region... BW Traders should go long if
a close 486.5 occurs .

The Exciting Energies

June Crude Oil
Support should appear near 2620 to 2612 and 2568 to 2552

Resistance is at 2663 to 2672 and the 2716 to 2724 region. Beyond that sellers should appear near 2758 to 2775 and 2820 to 2829 .BW .Traders can sell at 2757 and risk a close over 2832 for three days in row.

June Unleaded Gas
Support should appear near 7865 to 7835 and 7780 to 7765

Resistance should appear near 7940 to 7955. .Beyond that sellers should appear near 8030 to 8045 and the 8120 to 8135 region.. BW Traders can sell at 8115 for a turn lower and risk a close over 8320 for three days in a row.

June Heating Oil
Resistance should appear near 7075 to 7090 and the 7140 to 7170 region. BW Traders can sell at 7135 and risk a close over 7355 for three days in row.

Support should appear near 7005 to 6990 and the 6920 to 6905 region

The Lively Livestock

June Live Cattle
Support should appear near 7257 to 7242. Below that buyers should appear near 7170 to 7140 ..
BW Traders can buy at 7257 for a turn higher , risk a close under 7127 for three days in a row .

Resistance is at 7327 to 7342 and 7417 to 7432

June Lean Hogs
Recommended Open Position Long at 6432
Support is at 6432 to 6417 then 6352 to 6337 and the 6272 to 6257 region..

Resistance is at 6482 to 6507, a close over is friendly and augur for a test of 6577 to 6592
BW Traders should go long if a close over 6512 occurs..

July Pork Bellies
Support should appear near 9157 to 9142 and the 9067 to 9042 region .

Resistance is at 9317 to 9347, a close over augurs for a test of 9427 to 9445 and the 9527 to 9542 region.. BW Traders should go long if a close over 9352 occurs

Stay Tuned for Livestock Updates and Flashes

The Grande’ Grains

July Soybeans
Recommended Open BW Position Long 631 1/2
Resistance is at 633 3/4 to 635 region A close over is friendly and augurs for a test of 641 3/4 to 643.

Nearby Support should appear near 627 to 625 then 619 to 616 1/2 and the 610 1/2 to 611 1/4 region. .
BW Traders can buy at 619 3/4 and hold for higher prices , initially risk a close under 610 3/4 for three days in a row. BW Traders should go long if a close over 635 ¾ occurs

July Soymeal
Recommended Open Position Long at 195.4
Support should appear near 194.6 then 190.9 to 190.2 and the 186.8 to 185.8 region ..

Resistance is at 198.2 to 199.6. Beyond that resistance should appear near 203.4 to 204.2 and the 208.0 to 208.8 region. BW Traders should go long if a close over 199.7 occurs

July Soybean Oil
Resistance should appear near 2219 to 2226 and 2267 to 2275. Beyond that a test of the 2315 to 2322
region is likely… Above that sellers should appear near 2354 to 2370 .. Traders can sell at 2352 and risk a close over 2377 for three days in a row..

Support should appear near 2170 and the 2134 to 2126 region.. Under that 2088 to 2080 should hold.. ..
BW Traders can buy at 2136 for a good bounce and risk a close under 2077 for three days in a row..

July Corn
Resistance should appear near 241 1/4 to 242

Support is at 237 to 235 1/2 and 232 1/4 to 2311/2

July CBOT Wheat
Support should appear at 288 1/4 to 287 1/2 and 282 3/4 to 282. BW Traders can buy at 282 3/4 for a turn higher and risk a close under 274 ¾ for three days in a row.

Resistance is at the 292 3/4 to 293 3/4 region. Above that sellers should appear near 303 3/4 to 304 1/2 and the 309 1/2 to 310 1/2 region. BW Traders can sell at 309 1/4 and risk a close over 317 for three days in a row.
BW Traders should go long if a close over 289 3/4 occurs.

The Satisfying Softs

July the ‘Monster’ Coffee
Recommended Open BW Position Long 2 at 6720 avg
Support is near 6755 to 6740 and 6675 to 6655 . Under that buyers should appear near the 6590 to 6570 and the 6510 to 6480 region.. Below that 6430 to 6415 should contain a decline..

Resistance should appear near 6835, a close over is friendly and augurs for a test of 6905 to 6920. Beyond that a test of 7075 to 7090 and the 7140 to 7170 region is likely. Aggressive
BW Traders should go long if a close over 6845 occurs

July Cocoa
Support should appear near 1865 to 1858 and the 1822 to 1808 region.. .

Resistance should appear near 1902 to 1909 .

July Sugar
Recommended Open Position Long at 687
Support should appear near 686 to 682 and 671

Resistance should appear near 704 to 712 and 724 .
BW Traders should go long if a close over 724 occurs.

July Cotton
Recommended Open Position Long at 5435
Support should appear near 5285 to 5260 and the 5210 to 5200 region.

Resistance should appear near 5415 to 5430 and 5490 to 5505
BW Traders should long if a close over 5670 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
Monday May 5th, 2003
4:15 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.