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Monday May 24th , 2004

Friday  May 21st  2004
11:00 PM. West Palm Beach Time  

Open BW Positions

                                    The Frenzied Forex Front
June Yen
Resistance should appear near  8934 to 8964
Support should appear near 8871 to 8856.

June Euro Currency (EC)
Recommended open position Short 2 at 11928 avg
Support should appear at 11975 and 11920.
Resistance is at 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 the 7777 to 7763 and the 7689 to 7675 region 
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 1.7800 to 1.7740 region  
Resistance should appear near 1.7960 and the 1.8080 to 1.8220 region.

June Canadian Dollar
Recommended open position Short 7241
Support should appear near  7255 to 7242.
Resistance is at 7328 to 7342 
BW Traders should go short if a close under 7137 occurs..

June Aussie Dollar
Support should appear near.6919 to 6909
Resistance should appear at 6990 to 7003 and 7074 to 7088 
 

                                              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 and 1115.50 
Support should appear near 1082.00 and the 1068.00 to 1058.00 region
Aggressive BW Traders should go long if a close over 1101.10 occurs.

Nasdaq Composite
Support should appear near 1909 to 1902 and 1865 to 1858.
Resistance should appear near 1927.5 and 1946 to 1953

June Mini Nasdaq 100
Resistance is at 1415 to 1421 and 1437
Support is at 1383 to 1377

June 10 Year T-Note
Resistance should appear near 109-07 then 109-22 and 110-07
Support is at 108-22 then 108-08 and 107-22 

Precious Metals

June Gold
Recommended Open Position Short at 378.8
Resistance should appear at 385.8 to 386.7 and 390.9 to 392.9 
Support is at  380.6to 379.5 and 374.3 to 373.4
BW Traders should go short if a close under 372.9 occurs.

July Copper
Recommended Open position Short 11445
Support should appear near 12030 to 11960  
Resistance should appear near 12320 to 12380 

July Silver
Support should appear 573 to 571.5 and 565.5 to 564.0 
Resistance is at  588.5 and 602.5 to 603.5  

                                The Exciting Energies
July Crude Oil
Resistance  should appear near 4046to 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 10020 to 10035 and 10105 to 10135  
Support should appear near 9935 to 9920 and 9735to 9705

                                                    The Lively Livestock

August Cattle
Support should appear at 8592 to 8562 and 8502 to 8482. 
Resistance is at 8667 to 8682 and 8762 to 8777

July Hogs
Support is at 7432 to 7412 and 7342 to 7327 
Resistance is at 7487 to 7512 and 7587 to 7602 

August Hogs
Support is at 7342 to 7327 and 7257 to 7242   
Resistance is at 7412 to 7427 and 7487 to 7512 

July Pork Bellies
Resistance should appear near 11362 and 11500
Support  is 11185 and 11012

      ---  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 297 1/4 to 299  

July Soybeans
Resistance is at 868 1/4 to 866 1/4 and 8583/4to 856 3/4   
Support is at   8761/4 to 877 3/4 and 885 3/4 to 887 1/4

November Beans
Support is at 683 3/4 to 680 3/4 and 667 1/4 to 665 3/4
Resistance is at 690 3/4 to 691 3/4 and 714 to 717

July Soymeal
Support should appear near 277.5 to 275.8 and 272.4 to 271.6 
Resistance should appear near 282.9 then 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 2829 to 2820  
                      

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 7195 avg
Support is near 7170 to 7140 and 7090 to 7075 
Resistance should appear near 7240 to 7255 and 7325 to 7340

July Cocoa 
 Recommended open position Short at 1374
Support is at 1377 and 1346 to 1334 
Resistance is at 1415 to 1421 and 1453 to 1459

July Sugar
Recommended Open Position Short at 655
Support should appear near 656 and 634 to 630. 
Resistance should appear near  661 and 682 to 686

July  Cotton
 Support should appear near 6270 to 6255 and 6190 to 6165 
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

Friday May 21st, 2004
11:45 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. 
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                                                                         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 
Long 2 July Coffee 7195 avg
Short July Sugar 655
Short July Cocoa 1374