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, Monday July 7th 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

"In the fields of observation chance favors only the prepared mind."
- Louis Pasture-

Saturday July 5th, 2003
1:00 PM Eastern time

I hope everyone enjoyed the Holiday ...Now it's time to prepare and make plans for the upcoming
'Dog Days of Summer'. A period where over the last 15 to 20 years Crude Oil prices tend to rise and the Dollar has shown to exhibit modest declines In fact Over the last 26 Years, if you had bought the Swiss Francs on the last trading day of June and exited on the last trading day of September you were ahead 18 times .. for an average gain of just over 400 pts . The losses averaged just under 180 pts. Since 1990 there have been 11 years of gains and 2 losses.. For the SP500 the picture since 1980 is really interesting, of the 23 periods , 14 were gains .. 9 were losses..5 of those losing periods were the last five. ( 1998 ,1999, 2000, 2001 and 2002) Looking at other markets, Coffee tends to slosh around with a sideways pattern after the typically weak May thru June pressure eases a bit and should exhibit some strength late July into August.   Weather( as usual) becomes a factor for the Corn and Bean complex...While harvest pressure usually abates in Soft Winter Wheat which has a tendency to make a bottom late July Early August....

On to the Nitty Gritty..

                                               The ‘Frenzied’ Forex Front
Sept Yen
Support should appear near 8445 and 8406 to 8391

Resistance should appear near 8484 to 8499 and the 8560 to 8589 region

Sept Euro Currency (EC)
Recommended Open Position Long 2 at 11610 avg
Support should appear at 11430 and the 11360 to 11320 region

Resistance is at 11465 then 11500 and 11570

Sept Swiss Franc
Recommended open position long 2 at 7533 avg
Resistance should appear near 7487 to 7513.

Nearby Support should appear near 7428 to 7414 and 7342 to 7328

Sept British Pound
Recommended Open Position Long 1.6552
Support should appear near 1.6550 to 1.6490 and 1.6420.

Resistance should appear near 1.6634 and 1.6720
Trade Accordingly

Sept Canadian Dollar
Recommended Open Position Long 7445
Support should appear near 7428 to 7414 and 7378

Resistance is at 7487 to 7513

Sept Aussie Dollar
Support is at 6755 to 6741 then 6673 to 6659

Resistance should appear near 6809 to 6836

The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance should appear near 9140 to 9156 then 9237 and 9316 to 9347

Support should appear near 9060 to 9044 and 8964 to 8934

Sept SP500
Resistance is at should appear near 992.10 to 993.70 and the 1000.to 1005 region.

Support should appear near 982.10 and the 973.70 to 970.60 region

BW Traders should go short if a close under 970.20 occurs.

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

Nasdaq Composite
Nearby Resistance should appear near the 1689 to 1696 region.

Support should appear near 1655 to 1642

September Mini Nasdaq 100
Resistance is at 1232 to 1238 and 1268 to 1274

Support is at 1217.5 and 1203 to 1192

September Ten Year T-Notes
Resistance should appear near 1`16-23 then 117-07 and 117-23

Support is at 116-07 and 115-23
The Precious Metals

August Gold
Recommended Open Position Long at 369.5
Support should appear at 350.3 to 349. and 344.3 to 342.5.

Resistance is at 355.3 to 356.3

Sept Copper
Recommended Open Position Short 7535
Support should appear near 7485 and the 7430 to 7415 region

Resistance should appear near 7585 to 7605 and 7675 to 7690.

Sept Silver
Support should appear near 465 to 463.5 and 458.5 to 457

Resistance is at 469.5 to 471.5 and the 477.5 to 478.5 region

The Exciting Energies

August Crude Oil
Support should appear near 2990 to 2972 and 2937 to 2928

Resistance is at 3045 and the 3092 to 3102 region.

Trade Accordingly..

August Unleaded Gas
Support should appear near 8775 to 8760 and 8685 to 8665.

Resistance should appear near 8855 to 8870 then 9045 to 9060 and the 9140 to 9155 region.

August Heating Oil
Resistance is at 7835 to 7865 then 7935 to 7955 and the 8025 to 8045 region.

Support should appear near 7775 to 7760 and 7605 to 7585.

The Lively Livestock
August Live Cattle
Support should appear near 7002 to 6992 and 6922 to 6907

Resistance is at 7072 to 7087 and 7142 to 7172

August Lean Hogs
Recommended Open position long 2 at 6515 avg
Support is at 6577 then 6512 to 6482 and 6432 to 6417

Resistance is at 6657 to 6672 , beyond that a test of 6742 to 6757 is likely

August Pork Bellies
Recommended Open Position Long 9355
Support should appear near 9237 and the 9157 to 9137 region

Resistance is at 9317 to 9347 and 9427 to 9447.

Stay Tuned for Livestock Updates and Flashes

The Grande’ Grains
August Soybeans
Resistance is at 616 1/2 to 619 and 625 3/4 to 627

Support should appear near 611 1/4 to 610 1/4 and the 603 1/2 to 602 1/4 region.
BW Traders can buy at 604 3/4 and risk a close under 584 3/4 for three days in a row.

Aggressive BW Traders should go long if a close over 627 3/4 occurs

August Soymeal
Recommended Open Position Long 188.6
Support should appear near the 185.8 and 182.2 to 180.8

Resistance is at 190.2 to 190.9

August Soybean Oil
Resistance should appear near 2219 to 2226 and 2267 to 2275
Support should appear near 2185 to 2170.

December Corn
Resistance should appear near 226 3/4 to 227 1/2

Support is at 221 3/4 and 218 1/2 to 217 .

Sept CBOT Wheat
Support should appear at near 310 1/4 to 309 1/4 and 304 1/2 to 303 3/4

Resistance is at 314 3/4 to 315 3/4 Beyond that sellers should appear near 319 1/2 to 321 1/4

The Satisfying Softs

September the ‘Monster’ Coffee
Recommended Open BW Position Long 6165
Support is near 6255 and 6115 to 6105.

Resistance should appear near 6335 to 6350 and 6415 to 6430

Sept Cocoa
Support is at 1642 and 1615 to 1609

Resistance should appear near 1655 and 1689 to 1696..

October Sugar
Support should appear near 634 to 630

Resistance should appear near 656 to 661 .

December Cotton
Support should appear near 6115 to 6105 and 6035 to 6025

Resistance should appear near 6255 to 6270 and 6335 to 6350

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 July 5th, 2003
3:30 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.