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Monday April 26th 2004
Serving Professional and Individual Traders World Wide since 1988
7690
Rockport Circle , Lake Worth , Florida 33467 - USA and Canada
Toll Free : 1-866-409-3890 - Intl : 1- 561-433-2995
http://www.futurescom.com
Friday April 23rd 2004
3:00 PM. West Palm Beach Time
The
Frenzied Forex Front
n unexpected
surge in US demand for consumer durables propelled to the dollar to new session
highs, enabling it to post its third weekly rise against the major currencies.
The report reflects firming demand from businesses, suggesting a potential
increase in hiring. A weaker than expected report on Q1 growth from the UK
weighed further on the pound, while a flurry of safely balanced remarks from the
world’s top central bankers lacked any market impact. The dollar retains the
last cheer for the week and will likely start on a high note next week ahead of
Thursday’s release of the much scrutinized Q1 GDP report, expected to show
growth as much as 5.0%.
June Yen
Resistance should appear near 9140 to 9156 and 9237.
Support should appear near 9060 to 9044 and the 8964 to 8934 region
June Euro
Currency (EC)
Support
should appear at 11805
and the 11690 to 11640 region.
Resistance is at 11920 to 1975
and 12030 .Beyond that sellers should appear near 12175
BW Traders
can sell at 1.2174 for a turn lower and hold for lower prices … Risk a close
over 12252 for three days in a row.
June Swiss
Franc
Recommended open position short 7657
Resistance should appear near 7675 to 7689 and 7763 to 7777.
Support should appear near 7601 to
7587 and the 7513 to 7486 region .
June British Pound
Recommended Open Position Short 17651
Support
should appear near 17560 and the 17360 to 17310 region
Resistance should appear near
17740 to 17800 and 17940
June Canadian Dollar
Recommended Open Position Short 7373
Support should appear near 7328. Under that buyers should appear near 7255 to 7242
Resistance is at 7414 to 7428 and the
7486 to 7513 region..
BW Traders can sell at 7482 and risk a close over
7604 for three days in a row.
June Aussie Dollar
Recommended Open Position Short 7306
Support should appear near 7255 to 7242 and 7170 to 7143
Resistance should appear at 7328 to 7342 and 7414 to 7428
The Sensational Stock and Bond Markets
Dow
Jones Industrial Average
Resistance should appear
near 10580 to 10630 and 10680
Support should appear near 10360 to 10320
June SP500
Recommended Open Position Long 2 at 1126.30 avg
Resistance should appear near 1150.00 and 1164.00 to 1169.00
Support should appear 1136.00 to 1130.00 and the 1101.00 to 1096.00 region
Nasdaq Composite
Support should appear near 2042 to 2034 and 1996 to 1982
Resistance should appear near 2080 to 2089
June Mini Nasdaq 100
Resistance is at the 1529 to 1535 region.
Support is at 1484 and 1459 to 1453
June
10 Year T-Note
Resistance
should
appear near 111-07 and 111-22
Support
is
at 110-07 and 109-22
Trade accordingly.
Precious Metals
June Gold
Recommended Open Position Short 391.7
Resistance should appear at 398.2 to 399.2 Beyond that sellers should
appear near 411 to 412 and 416.3 to
418.3.BW Traders can sell at 410.90 and risk close over 418.7 for three days in a
row.
Support is at 392.9 to 390.9 and 386.70 to 385.80
July Copper
Recommended Open Position Short 12260
Support should appear near 12380 to 12320 and 12030 to 11920
Resistance should appear near 12680 to 12740 and 13040 to 13100
July Silver
Support should appear 595.5 to 594.5 and 543.to 541.5
Resistance is at 625 to 627 and 657 to 659. .
The Exciting Energies
June
Crude Oil
Resistance should
appear near 3663 to 3682 and 3734 to 3743
Support is at
3623 to 3613 and 3563 to 3553
June Unleaded
Gas
Resistance should appear
near 11690 and 11920 to 12030
Support should appear near 11360 to 11300 and 11010 to 10960
June Heating Oil
Resistance should appear near
9315 to 9345 then 9525 to 9545 and the 9705 to 9735 region.
BW Traders can sell at 9705 and risk a
close over 9945 for three days in a row.
Support should appear near 9060 to 9045 and 8965 to 8935
The Lively Livestock
June Cattle
Support
should appear at 7602 to 7587 and 7512 to 7487 .
Resistance is at 7672 to 7692 and the 7762 to 7777 region.
June Hogs
Support is at 7142 and 7092 to 7072
Resistance is at 7242 to 7257 and the 7327 to 7342 region.
July Hogs
Recommended open position long at 7140
Support is at 7172 to 7142 and 7092 to 7072
Resistance is at 7242 to 7257
and the 7327 to 7342 region.
May Pork
Bellies
Support should appear near 10630 to 10580 and 10470.
Resistance is at 10820 and
10960
---
Traders should stay tuned for BW Updates and Flashes in the Livestock
markets ---
The Grande’ Grains
July Soybeans
Resistance
is at 970 3/4 to 9973 3/4 and 982 1/4 to 983 3/4
Support should appear at 954 1/4 to 952 3/4 and 944 1/2 to 942 1/4 .
July Soymeal
Support should appear near 299 to 297.2 and 293.7 to 292.8
Resistance should appear near 303.6 to 304.5 and 309.2 to 310.2
BW traders should go long if close over 310.7 occurs.
July Soybean Oil
Recommended Open Position Short 3135
Resistance should appear near 3319 to 3328 and 3377 to 3386
Support should appear near 3261 and 3213 to 3194
July Corn
Resistance should appear near 314 3/4 to 315 3/4
Support is at 304 1/2 to 303 3/4
December Corn
Recommended Open Position Long 299 3/4
Resistance should appear near 309 1/4 to 310 1/4
Support is at 304 1/2 to 303 3/4 and 299 to 297 1/4
BW Traders should go long if a close over 316 1/4 occurs.
July CBOT Wheat
Recommended open position long 402 1/2
Support should appear near 380 3/4 to 379 1/2 and 374 1/4 to 373
1/2
Resistance should appear
near 390 3/4 to 392 3/4 and 398 1/4 to 399 1/4
Trade Accordingly and Stay tuned for updates
The Satisfying Softs
July the ‘Monster’ Coffee
Support is near the 7005 to 6990 and the 6835 to 6810 region.. Under
that buyers should appear near 6755 to 6740 and 6670 to 6655.BW Traders can buy at 6765 and hold for higher prices.. risk a close under 6655
for three days in a row.
Resistance should appear near 7075 to 7090 and the 7140 to 7170
region.
BW Traders should go long if a close over 7265 occurs.
July Cocoa
Support is at 1346 to 1334 and the 1310 to 1304 region.. Below that buyers should
appear near 1274 to 1268 where it should hold .BW Traders can buy at 1277 and risk a
close under 1227 for three days in a row.
Resistance is at 1377 to 1383 and 1414 to 1428
July
Sugar
Support should appear near 661 to 656. BW
Traders can buy at 663 for a turn higher and risk a close under
627 for three days in a row..
Resistance should appear near the 682 to 686 and 704 to 712
region.
July Cotton
Recommended open Position Long at 6380
Support
should appear near 6350 to
6335 then 6270 to 6255 and 6190 to 6265
Resistance should appear near 6415 to 6430 and 6485 to 6510 Beyond that
sellers should appear near
6575 to 6590
A Ship in Harbor is Safe...But that is not what ships
are built for –
Stay tuned for
flashes and updates in all markets..
Happy
Trading!
Bill
wil@futurescom.com
1-866-409-3890
Friday April 23rd, 2004
4:00 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.
-----------------------------------------------------------------------------------------
Terms
FuturesCom Investment Publications Copyright@1996-2004 all rights reserved
Recommended Open BW Positions
Short June Swiss Franc 7657
Short June British Pounds 17651
Short June Canadian Dollars 7373
Long 2 June SP500 1126.30 avg
Short June Gold 391.7
Short July Copper 1.2260
Long July Hogs 7140
Short July Soybean Oil 3135
Long December Corn 299 3/4
Long July Wheat 402 1/2
Long July Cotton 6380