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Morning Comments Tuesday June 2nd 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
Monday June 1st 2004
3:00 PM. West Palm Beach
Time
The Frenzied Forex Front
June Yen
Resistance should appear near 9044 to 9060 and 9140 to 9156
Support should appear near the 8964 to 8934 and 8871 to 8856
June Euro Currency
Recommended Open Position Short 5 at 12148 Avg
Support should appear at
1.2175 and 12102
Resistance is at 12247 and 12320 to 12380
June Swiss Francs
Recommended Open Position Short 8
at 7943 Avg.
Resistance should appear near 8029 to 8044 and the 8119 to 8134 region.
Support should appear near the 7954
to 7939
June British Pounds
Recommended Open Position Short 17512
Support should appear near 18220 to 18080
Resistance should appear near 18400 and the1.8580 to 1.8650 region.
June Canadian Dollar
Recommended Open Position Short 2 at 7265
Avg.
Support should appear near
7291 and 7255 to 7242
Resistance is at 7328 to 7342.
Sept Canadian Dollar
Support should appear near 7255
to 7242
Resistance is at 7328 to 7342
June Aussie Dollar
Support should appear near 7003 to 6990
Resistance should appear at 7074 to7088 and 7115
The Sensational Stock and Bond Markets
Dow Jones Industrial Average
Resistance should appear
near 10257 and 10320 to 10360
Support should appear near 10185 and 10137 to 10104.
June SP500
Recommended open position Long 4 at 1120.20 avg.
Resistance should appear near 1126.70 and the 1130.00 to 1136 region..
Support should appear near 1115.50 and
1101 to 1096..
Nasdaq Composite
Support should appear near 1953 to 1946 and 1909 to 1902 ..
Resistance should appear near 1996, a close over augurs for a test of
2034 to 2042
June Mini Nasdaq 100
Resistance is at 1484 to 1496 and the 1529 to 1536 region.
Support is at 1459 to 1453 and 1421 to 1415 ..
Sept
10 Year T-Note
Resistance should
appear near 118-07 and 108-22
Support is at 107-22
and 107-07
Precious
Metals
August Gold
Recommended Open Position Short at 396.1
Resistance should appear at 398.2 to 399.2 and the 404.60 to 405.60 region.
Support is at 392.9 to 390.9 , a close under augurs for a test of 386.7 to
385.8
July Copper
Recommended Open Position Short 114.45
Support should appear near 127.40 to
126.80 and 123.80 to 123.20
Resistance should appear near 130.40
to 131.00 and 133.40 to 134.60.
Support should appear 603.5 to 602.5 and 588 to 585.5.
Resistance is at 616.5 to 619.0 and the 625.5 to 627 region.
The Exciting Energies
July Crude Oil
Recommended Open position Short 4107
Resistance should
appear near 4238 to 4249 and 4304 to 4315
Support should appear near 4183 to 4163 and 4120 to 4110
July Unleaded
Gas
Resistance should appear
near 13770 to 13830. Beyond that sellers should appear near14150 to 14210 and
cap a rally ..
Support should appear near 13460 to
13340 and 12740 to 12680
July Heating Oil
Resistance should appear near
10680 and 10820 Beyond
that sellers should appear near 10960 to 11010
Support should appear near 10360 to 10320 and 10135 to 10105.
The Lively Livestock
August Cattle
Support should appear at 8777 to 8762 and the 8682 to 8667 region.
Resistance is at 8857 to 8872 and 8932 to 8967.
July Hogs
Support is at 7602 to 7587 and 7512 to 7487
Resistance is at 7672 to 7692 and
the 7762 to 7777 region
BW Traders can sell at 7762 and risk a close over 7877 for three days in row.
August Hogs
Support is at 7487 and 7432 to 7417
Resistance is at 7587 to 7602 and 7672 to 7692
July Pork Bellies
Resistance should appear near 11640 to 11690 . Beyond that sellers should
appear near 11805.
Support is 11500 and 11360 .
--- Traders should stay
tuned for BW Updates and Flashes in the Livestock markets
---
The
Grande’ Grains
July Corn
Support should appear near
315 3/4 to 314 3/4 and 310 1/4
to 309 1/4
Resistance is
at to 337 3/4 to 338 3/4 and 342 1/2
BW Traders can sell at 325 ¾ and risk a close over 3335 ¼ for three days
in a row.
July Soybeans
Resistance is at 876 1/4 to 877 3/4 and 904 1/2 to 906
Support is at 858 3/4 to 856 and
831 1/2 to 830
November Beans
Support is at 717 to 714 and 683 3/4 to 680 3/4
Resistance should appear near 741
1/2 to 742 3/4 and the 777 3/4 to 776 1/4 region.
July Soymeal
Support should appear near the 267.2 to 266.3 and 256.8 to 255.2
Resistance should appear near 275.8 to 277.5 BW Traders can sell at
275.7 and risk a close over 283.6 for three days in a row... Beyond that sellers
should appear near 282 to 282.9 and 292.8 to 293.7
July Soybean Oil
Recommended Open position Short 2924
Resistance should appear near 2972 to 2990 and 3036 to 3045
Support
should appear near 2937 to 2924 and 2883 to 2874 .
July CBOT Wheat
Recommended open Position Short at 373 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
The
Satisfying Softs
July the ‘Monster’ Coffee
Support is near 8225 to 8195 and the 8135 to 8115 region.. BW Traders can
buy at 8135 and hold for higher prices.. risk a close under 7820 for three days
in a row.. Below that buyers should appear near the 7780 to 7765 0 region.
Resistance should appear near 8300 to 8315 and 8485 to 8500 .. Beyond
that a test of 8560 to 8590 is likely.
July Cocoa
Recommended Open Position Short 1374
Support is at 1421 to 1415.. A close under augurs for a test of 1346 to
1334 and eventually the 1310 to 1304 region.
Resistance is at 1453 to 1459 and 1484 to 1496..
July
Sugar
Recommended
Open Position Short 655
Support should appear near 712 to 704
Resistance should appear near 735 to 739.
July Cotton
Support should appear
near 5880 to 5855 and 5730 to 5715, which should hold.
Resistance should appear near 6025 to 6045 and 6105 to 6115
_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
Monday June 1st 2004
4:30 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.
-----------------------------------------------------------------------------------------
Terms
FuturesCom Investment Publications Copyright@1996-2004 all rights reserved
Recommended Open BW
Positions:
Short 5 June EC 12148 avg
Short 8 June Swiss Franc 7943
avg
Short June British Pounds 17512
Short 2 June Canadian
Dollars 7265 avg
Long 4 June SP500 1120.20 avg
Short August Gold 396.1
Short July Copper 11445
Short July Crude Oil 4107
Short July Soybean Oil 2924
Short July Sugar 655
Short July Wheat 373 1/2
Short July Cocoa 1374