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Morning Comments Wed May 19th 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
Tuesday May 18th 2004
1:00 PM. West Palm Beach Time
The Frenzied Forex Front
June Yen
Resistance should appear near 8762 to 8777 and 8856 to 8871
Support should appear near 8683 to 8668 and the 8589 to 8560 region.
June Euro Currency (EC)
Recommended open position Short 2 at
11928 avg
Support should appear at
11920 and 11805.
Resistance is at 11975 then 12030 and
12175
Aggressive BW Traders should go short if a close under 11802 occurs
June Swiss
Franc
Recommended open position Short 2 at 7783 avg
Resistance should appear near 7836 to 7864 and 7939 to 7954
Support should appear near 7777 to
7762 and the 7689 to 7675
Aggressive BW Traders should go short if a close under 7669 occurs
June British Pound
Recommended open position Short 17512
Support should appear near the 1.7360 to 1.7310 region, which should
contain a decline ..
Resistance should appear
near the17740 to 17800 region .
June Canadian Dollar
Recommended open position short 7241
Support should appear
near 7170 to 7143.
Resistance is at 7242 to
7255
BW Traders should go short if a close under 7137 occurs..
June Aussie Dollar
Support should appear near.6836 to 6809 and
the 6755 to 6740 region.
Resistance should appear at 6906 to 6919 and 6990 to 7003
The
Sensational Stock and Bond Markets
Dow Jones Industrial Average
Resistance should appear
near 10021 to 10037 and 10104 to 10136
Support should appear near 9937 to 9921 and 9837 to 9821 .
June SP500
Recommended open position Long 3 at 1122.90 avg.
Resistance should appear near 1096 to 1101.
Support should appear near the1068.00 to 1058.00 region
Aggressive BW Traders should go long if a close over 1101.10 occurs.
Nasdaq Composite
Support should appear near 1865 to 1858.
Resistance should appear near 1902 to 1909
June Mini Nasdaq 100
Resistance is at 1415 to 1421
Support is at 1383 to 1377.
June
10 Year T-Note
Resistance should
appear near 109-22 and 110-07 y
Support
is
at 109-07 and 108-22.
Precious Metals
June Gold
Recommended Open Position Short at 378.8
Resistance should appear at 379.5 to 380.6 and 385,8 to 386.7
Support is at 374.3 to 373.4 and the 368.2 to 366.3 region
BW Traders should go short if a close under 372.9 occurs.
July Copper
Recommended Open position Short 11445
Support should appear near 11500 and 11360 to
11320
Resistance should appear near 11640 to 11690
and 11805
July Silver
Support should appear 558 to 555.5 and 543 to 541.5.
Resistance is at 579.5 to 580.5 and 585.5 to 588 .
The Exciting Energies
July Crude Oil
Recommended Open Position Short at 4148
Resistance should
appear near 4046 to 4056 and 4110 to 4120
Support is at 3992 to 3982 and 3929 to
3909
July Unleaded
Gas
Resistance should appear
near 13340 to 13460 and 13770 to 13830
Support should appear near 13100 to 13040
and 12740 to 12680
July Heating Oil
Resistance should appear near
10320 to 10360 and 10580 to 10680
Support should appear near 10135 to 10105 then 9940 to 9920
and 9745 to 9705
The Lively Livestock
August Cattle
Support should appear at 8222 to 8192 and 8137 to 8117
Resistance is at 8392 to 8407 and 8482 to 8497
July Hogs
Support
is at 7342 to 7327 and 7257 to 7242
Resistance is at 7412 to 7427 and 7487 to 7512
August Hogs
Support is at 7172 to 7142 and 7087 to 7072
Resistance is at 7242 to 7257, a close over is friendly and augurs for a
test of 7327 to 7342
July Pork Bellies
Resistance should appear near 11500 and 11640 to 11690
Support is
11362 to 11322 and 11187
--- Traders should stay
tuned for BW Updates and Flashes in the Livestock markets
---
The Grande’ Grains
July Corn
Support should appear near
288 1/4 to 287 1/2 .
Resistance is
at 292 3/4 to 293 3 /4
July Soybeans
Resistance
is at 8763/4to 8773/4 and 893 3/4 to 896 3/4
Support is at 858 3/4 to 856 3/4 and
831 1/2 to 830
November Beans
Support is at 691 3/4 to 690 3/4 and 683 3/4 to 680 3/4
Resistance is at 714 to 717
and the 732 3/4 to 734 1/4 region
July Soymeal
Support should appear near 282 then 277.5 to 275.8 and 272.4 to 271.6
Resistance should appear near 287.4 to 288.3 and 292.8 to 293.7.
July Soybean Oil
Resistance should appear near 2928 to 2937 and 2972 to 2990
Support
should appear near 2883 to 2874 and the 2829 to 2820 region.
July CBOT Wheat
Support should appear near 368 1/4 to 366 1/4 and 362 1/4 to 361 1/4
Resistance should appear
near 373 1/2 to 374 1/4 and 379 1/2 to 380
3/4
The
Satisfying Softs
July the ‘Monster’ Coffee
Recommended Open position long 2 at 7155 avg
Support is near 7170 to 7140 and 7090 to 7075.
Resistance should appear near 7240 to 7255 and 7325 to 7340
BW Traders should go long if a close over 7265 occurs.
July Cocoa
Support is at 1310 to 1304 and 1274 to 1268 under that
1238 to 1232 should hold. ..
BW Traders can buy at 1242 and risk a close under 1159 for three days in a
row.
Resistance is at 1334 to 1346 and 1377 to 1383 .BW Traders can sell at
1374 and risk a close over 1432 for three days in row.
July
Sugar
Recommended Open Position Short at 655
Support should appear near 661 to 656 and 634 to 630.
Resistance should appear near 682 to 686 and 704 to 712
July Cotton
Support should appear
near 6190 to 6165 and 6115 to 6105
Resistance should appear near 6335 to 6350 and 6415 to 6430
- A Ship in Harbor is Safe...But that is not what
ships are built for -
Happy Trading!
Bill
wil@futurescom.com
1-866-409-3890
Tuesday May 18th , 2004
3:00 PM South Florida Beach Time
-----------------------------------------------------------------------------------------
Terms
FuturesCom Investment Publications Copyright@1996-2004 all rights reserved
Recommended Open BW Positions
Short 2 June EC 11928 avg
Short 2 June Swiss Franc 7783 avg
Short June British Pounds 17512
Short June Canadian Dollars 7241
Long 3 June SP500 1122.90 avg
Short June Gold 378.8
Short July Copper 11445
Short July Crude Oil 4148
Long 2 July Coffee 7155
Short July Sugar 655