Economic and Investment Trend Analysis - Socio Economics - Forex - Bonds - Dow Jones - Nasdaq - SP500
Precious Metals - Energy - Livestock - Grains - Softs
FuturesCom Investment Publications
Morning Comments, Friday May 23rd, 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
Thursday May 22nd, 2003
4:15 PM eastern standard time
June Yen
Support should appear near 8499 to 8484.
Resistance should appear near 8560 to 8580
June Euro Currency (EC)
Recommended Open Position Long at 11700
Support should appear at 11665 to 11640 and 11605
Resistance is at 11690 then11747 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 1.6284 and 1.6226
Resistance should appear near 1.6352 and the1.6420 to 1.6550 region.
June Canadian Dollar
Recommended Open Position Long at 7257
Support should appear near 7255 to 7242 and 7170 to 7143
Resistance is at 7291 and 7328 to 7342
June Aussie Dollar
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 8668 to 8683 and the 8762 to 8777 region
Support should appear near 8589 to 8560 and the 8499 to 8484 region
June SP500
Resistance should appear near 931.60 to 934.70 and 942.90 to 944.50
Support should appear near 923.60 and 915.60 to 914.00.
Stay tuned for BW SP500 Updates and Index program trades , while day trades can occur at anytime
Nasdaq Composite
Resistance should appear near 1512.5 and 1529 to 1535
Support should appear near the 1496 to 1484 and 1459 to 1453
June Mini Nasdaq 100
Resistance is at 1136 then 1150 and 1164 to 1169
Support is at 1115.5 and 1101 to 1096
June Ten Year T-Notes
Resistance should appear near 119-04 and 119-23
Support is at 118-22 then118-04 and 117-23
The Precious Metals
June Gold
Recommended Open Position Long at 364.4
Support should appear at 368.3 to 366.3 and 362.3 to 361.3
Resistance is at 373.4 to 374.3 and 379.5 to 380.6
July Copper
Support should appear near 7605 to 7585
Resistance should appear near 7765 to 7780 and 7835 to 7865.
BW Traders should go short if a close under 7580 occurs
July Silver
Recommended Open Position Long at 465.5
Support should appear near the 465 to 463.5 region.. Below that buyers should appear near 458.5 to 457.0.
Resistance is at 469.5 to 471.5 and 477.5 to 478.5
The Exciting Energies
July Crude Oil
Support should appear near 2874 and 2829 to 2820
Resistance is at 2928 to 2937 and 2972 to 2990
July Unleaded Gas
Support should appear near 8500 to 8485 and 8405 to 8390
Resistance should appear near 8560 to 8590 and 8665 to 8685
July Heating Oil
Resistance is at 7585 to 7605
Support should appear near 7345 to 7325 and the 7260 to 7240 region
The Lively Livestock
June Live Cattle
Support should appear near 7257 to 7242 and 7170 to 7140.
Resistance is at 7322 to 7342 and 7412 to 7427
June Lean Hogs
Recommended open position Long at 6512
Support is at 6432 to 6417 and the 6352 to 6337 region
Resistance is at 6482 to 6507 and 6577 to 6592
July Pork Bellies
Support should appear near 9347 top 9317 then 9237 and 9157 to 9142.
Resistance is at the 9427 to 9447 region. Beyond that a test of 9527 to 9542 is likely.
Aggressive BW 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 633 1/4 to 635 and 641 3/4 to 643
Support should appear near 625 3/4 and 619 to 616 1/2
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 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 194.6 to 195.3
July Soybean Oil
Resistance should appear near 2315 to 2322
Support should appear near 2275 to 2267
July Corn
Resistance should appear near 246 1/4 to 247
Support should appear near the 241 3/4 to 241 1/4 region.
July CBOT Wheat
Support should appear at 321 1/4 to 319 1/2
Resistance is at 326 1/4 to 327 and 331 3/4 to 332 3/4
The Satisfying Softs
July the ‘Monster’ Coffee
Recommended Open BW Position Long at 6715
Support is near 6590 to 6575 and the 6510 to 6485 region.
Resistance should appear near 6655 to 6675 and 6740 to 6755.
July Cocoa
Support is at 1655 to 1642 and 1615 to 1609
Resistance should appear near 1689 to1696 and 1731 to 1738
July Sugar
Recommended open position Long 728
Support should appear near 712 to 704
Resistance should appear near 735 to 738 .
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
Happy Trading!
Bill wil@futurescom.com
1-561-433-2995
Thursday May 22nd , 2003
5:30 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.
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