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, Wed May 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

Tuesday May 20th, 2003
4:00 PM eastern standard time

The ‘Frenzied’ Forex Front

June Yen
Recommended Open Position short at 8530
Support should appear near 8560 and 8499 to 8484.
Resistance should appear near 8580 and 8668 to 8683

June Euro Currency (EC)
Recommended Open Position Long at 11700
Support should appear at 11690 to 11665 and 11640

Resistance is at 11747 and 11805.

June Swiss Franc
Recommended Open Position Long at 7711
Resistance should appear near 7763 to 7777 and the 7836 to 7864 region.
Support should appear near 7689 to 7675

June British Pound
Recommended Open Position Long 1.6296
Support should appear near 1.6352 and 1.6284

Resistance should appear near the 1.6420 to 1.6550 region.

June Canadian Dollar
Recommended Open Position Long 7380
Support should appear near 7343 to 7328

Resistance is at 7414 to 7428.

June Aussie Dollar
Recommended Open Position Long at 6518
Support is at 6509 to 6483.

Resistance should appear near 6577 to 6591

The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance should appear near 8560 to 8589 and 8668 to 8683

Support should appear near 8484 and the 8406 to 8391 region

June SP500
Recommended Open position , Short 920.40
Resistance should appear near 923.60 then 931.60 to 934.70 and 942.90 to 944.50

Support should appear near 915.60 to 914.00..Below that support should appear near the 906.00 to 904.40 region.

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

Nasdaq Composite
Nearby Resistance should appear near 1512.5 then 1529 to 1535 and 1569 to 1576

Support should appear near the 1484 and 1459 to 1453

June Mini Nasdaq 100
Resistance is at 1130 to 1136

Support is at 1101 to 1096

June Ten Year T-Notes
Resistance should appear near 119-04 and 119-21

Support is at 118-23 and 118-04

The Precious Metals

June Gold
Recommended Open Position Long at 364.4
Support should appear at 362.3 to 361.3 and 356.3 to 355.3

Resistance is at 368.4 and the 373.4 to 374.3 region.

July Copper
Support should appear near 7605 to 7585 and 7515 to 7485

Resistance should appear near 7675 to 7690 and the 7765 to 7780 region.
BW Traders should go short if a close under 7580 occurs

July Silver
Recommended open position long at 487.5
Support should appear near 478.5 to 477.5 then 471.5 to 469.5 and the 465 to 463.5 region.. Below that buyers should appear near 458.5 to 457.0. 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..

The Exciting Energies

July Crude Oil
Support should appear near 2829 to 2820 then 2775 to 2758 and 2724 to 2716.

Resistance is at 2874 to 2884 and 2928 to 2937

July Unleaded Gas
Support should appear near 8225 to 8195 then 8135 to 8120 and the 7865 to 7835 region ..

Resistance should appear near 8300 to 8315 and 8485 to 8500

July Heating Oil
Resistance is at 7325 to 7345 and 7585 to 7605

Support should appear near 7260 to 7240 region Below that support should appear near 7090 to 7075

The Lively Livestock

June Live Cattle
Support should appear near 7170 to 7140. BW Traders can buy at 7177 and risk a close under 7067 for three days in a row.

Resistance is at 7257 and 7322 to 7342 .

June Lean Hogs
Support is at 6592 to 6577 and the 6512 to 6487 region. BW .Traders can buy at 6512 and risk a close under 6467 for three days in a row.

Resistance is at 6657 to 6672 and the 6742 to 6757 region.
Aggressive BW Traders should go long if a close over 6712 occurs..

July Pork Bellies
Recommended Open Position Long at 9162
Support should appear near 9237 then 9157 to 9142 and the 9067 to 9042 region ..
Below that buyers should appear near 8967 to 8932 and the 8872 to 8857 region..

Resistance is at 9317 to 9347 and the 9427 to 9447 region.
Aggressive Traders should go long if a close over 9447 occurs

Stay Tuned for Livestock Updates and Flashes

The Grande’ Grains
July Soybeans
Resistance is at 643 then 648 1/4 to 650 3/4 region and the 657 3/4 to 659 1/4 region.

Support should appear near 635 to 633 3/4.. Below that buyers should appear near 627 to 625 3/4
Aggressive BW Traders should go long if a close over 651 3/4 occurs

July Soymeal
Recommended Open Position Long at 196.3
Nearby Support should appear near 195.3 to 194.6 and 190.9 to 190.2 .. under that buyers should appear near the 186.8 to 185.8 region ..
BW Traders can buy at 188.6 and risk a close under 185.1 for three days in row. .

Resistance is at 198.2 to 199.6 and the 203.4 to 204.2 region

July Soybean Oil
Resistance should appear near 2315 to 2322 and 2354 to 2370

Support should appear near 2275 to 2267

July Corn
Resistance should appear near 251 1/4 to 251 3/4 and 255 1/4 to 256 3/4,

Support is at 246 1/4 and the 241 3/4 to 241 1/4region.
BW Traders should go long if a close over 257 3/4 occurs.

July CBOT Wheat
Support should appear at 332 3/4 to 331 3/4 and the 327 to 326 1/4 region.
Below that buyers should appear near 321 1/4 to 319 1/2

Resistance is at 337 3/4 to 338 3/4 and the 342 1/2 to 344 1/4 region.

The Satisfying Softs

July the ‘Monster’ Coffee
Recommended Open BW Position Long 2 at 6835 avg
Support is near 6675 to 6655 then 6590 to 6575 and the 6510 to 6485 region.

Resistance should appear near 6740 to 6755 and the 6805 to 6835 region. Beyond that a test of 6990 to 7005 is likely.

July Cocoa
Support is at 1642 and 1615 to 1609

Resistance should appear near 1655 and 1689 to1696

July Sugar
Recommended open position long 2 at 708 avg
Support should appear near 723 and 712 to 704.

Resistance should appear near 735 to 738.. Beyond that sellers should appear near the 763 to 767 region.

July Cotton
Support should appear near 5285 to 5255.... Below that buyers should appear near 5210 to 5200 and the 5140 to 5125 region.

Resistance should appear near 5355 and 5415 to 5430 and 5490 to 5505, a close over is friendly and augurs for a test of 5555 to 5580 and the 5640 to 5655 region.. BW Traders should long if a close over 5515 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
Tuesday May 20th , 2003
4:45 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.