Economic and Investment Trend Analysis

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Thursday June 17th 2004
Serving Professional and Individual Traders World Wide since 1988
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Wed June 16, 2004
2:00 PM eastern time

Open BW Positions

The Frenzied Forex Front

Sept Yen
Resistance should appear near 9140 to 9156 and 9237
Support should appear near 9060 to 9044 and the 8964 to 8934 region

Sept Euro Currency (EC)
Support should appear at 11975 and 11920
Resistance is at 12030 and 12102 .. Beyond that sellers should appear near 12175. BW Traders can sell at 12172 and risk a close over 12262 for three days in a row.
BW Traders should go if short if a close under 11917 occurs.

Sept Swiss Franc
Recommended Open Position Short at 2 at 7963 avg
Resistance should appear near 7939 to7954 and 8029 to 8044.
Support should appear near the7864 to 7836 region.

Sept British Pound
Support should appear near 18080 and 1.7942.. An extended trade or close under augurs for a test of 17800 to 17740.
Resistance should appear near 18150 and 18220. BW Traders can sell at 18212 for a turn lower
and risk 120 pts..Beyond that sellers should appear near 1400 and the 18580 to 18650 region.

Sept Canadian Dollar
Support should appear near 7242 and the 7170 to 7143 region.
Resistance is at 7328 to 7342.and 7414 to 7428 ..BW Traders can sell at 7327 and risk a close over 7432 three days in a row. BW Traders should go short if a close under 7237 occurs.

Sept Aussie Dollar
Support should appear near 6755 to 6741 and 6673 to 6659
Resistance should appear at 6809 to 6836 and 6906 to 6919

The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance should appear near 10470 and 10580 to 10630
Support should appear near 10360 to 10320 and 10257 .

September SP500
Recommended Open position Long at 1131.20
Resistance should appear near 1136.00 and 1150.00 .
Support should appear near 1130.00 and 1115.50.

Nasdaq Composite
Support should appear near 1996 to 1984 and 1953 to 1946.
Resistance should appear near 2034 to 2042

Sept Mini Nasdaq 100
Resistance is at 1496 and 1529 to 1535
Support is at 1484 and 1459 to 1453.

Sept 10 Year T-Note
Resistance should appear near 108-22 and 109-07
Support is at 108-07 and 107-22

Precious Metals

August Gold
Recommended Open Position Short at 384
Resistance should appear at 385.7 to 386.8 and 390.9 to 392.9 BW Traders can sell at 390.7 and risk a close over 399.7 for three days in a row
Support is at 380.6 to 379.5.

July Copper
Support should appear near 11690 to 11640 and 11500.
Resistance should appear near 11920 to 12030 .. Beyond that sellers should appear near the 12320 to 12380 region.. BW Traders can sell at 12310 and risk a close over 127 70 for three days in a row..

July Silver
Support should appear 571.5 and 565.5 to 564, below that a test of 557.5 to 555.5 is likely..
Resistance is at 585.5 to 588 and 594.5 to 595.5

The Exciting Energies
August Crude Oil
Resistance should appear near 3795 to 3806 and 3858 to 3867Support should appear near 3743 to 3734 and the 3682 to 3663 region..

August Unleaded Gas
Resistance should appear near 11640 to 11690 then 11920 to 12030 .
Support should appear near 11360 to 11300 and 11010 to 10960

August Heating Oil
Resistance should appear near 10020 to 10035 and 10105 to 10135
Support should appear near 9920 then 9835 to 9820 and 9740 to 9705

The Lively Livestock

August Cattle
Support should appear near 8502 to 8482 and the 8407 to 8392 region.
Resistance is at 8592 then 8667 to 8682 and 8762 to 8777

July Hogs
Recommended Open Position Short at 7762
Support is at 7602 to 7587 and 7512 to 7487
Resistance is at the 7677 to 7692 and 7762 to 7777

August Hogs
Support is at 7512 to 7487 and 7432 to 7417
Resistance is at 7587 to 7602 and 7672 to 7692

July Pork Bellies
Resistance should appear near 11300 to 11360 and 11500
Support is 11157 and 11010 to 10960 and 10822

--- Traders should stay tuned for BW Updates and Flashes in the Livestock markets ---

The Grande’ Grains

July Corn
Support should appear near 277 1/2 to 275 3/4 and the 272 1/2 to 271 3/4 region .
Resistance is at to 282 to 282 3/4 and 287 1/2 to 288 1/4 ..

July Soybeans
Resistance is at 876 1/4 to 877 3/4 then 885 3/4 to 887 1/4 and 904 ½ to 906BW Traders can sell at 903 ¼ and plan on an initially risking a close over 917 ½ for three days in a row..
Support is at 868 1/4 to 866 3/4 then 858 3/4 to 856 and 840 3/4 to 839 1/4

November Beans
Support is at 659 1/4 to 657 1/4 and 650 3/4 to 648 3/4.
Resistance is at 674 1/4 to 675 1/2 and 680 3/4 to 683 3/4

July Soymeal
Support should appear near 277.5 to 275.8 and the 272.4 to 271.6 region.
Resistance should appear near 282.0 to 282.9 and 287.4 to 288.3. Which should Cap a rally for a bit.
BW Traders can sell at 287.3 and risk a close over 295.7 for three days in a row.

July Soybean Oil
Recommended Open Position Short at 2734
Resistance should appear near 2758 to 2775 and 2820 to 2829 .
Support should appear near 2724 to 2716 and the 2672 to 2663 region

July CBOT Wheat
Support should appear near 344 1/2 to 342 1/2 and the 338 3/4 to 337 3/4 region. Below that 332 3/4to 331 3/4 should provide some support.
Resistance should appear near 355 1/4 to 356 1/4 and the 361 1/4 to 362 1/4. region. Beyond that sellers should appear near 366 1/4 to 368 1/4...BW Traders can sell at 365 3/4 and risk a close over 376 1/4 for three days in a row

The Satisfying Softs

September Coffee
Recommended Open Position Long 2 at 8440 avg
Support is near 8045 to 8020. Below that buyers should appear near the 7780 to 7765 region.
Resistance should appear near 8190 to 8225 and 8300 to 8315.
BW Traders should go long if a close over 8785 occurs..

Sept Cocoa
Support is at 1346 to1334 and the 1310 to 1304 region. Below that a test of 1274 to 1268 is likely..
Resistance is at 1377 to 1383 and the 1415 to 1421 region.. Beyond that sellers should appear near 1453 to 1459 BW Traders can sell at 1452 and risk a close over 1515 for three days in a row..

October Sugar
Support should appear near 739 to 735 and 712 to 704
Resistance should appear near 763 to 767 and the 791 to 795 region.. BW traders can sell at 789 and risk a close over 827 for three days in a row.

December Cotton
Support should appear near 5280 to 5270 and 5210 to 5200
Resistance should appear near 5415 to 5430 and 5490 to 5505

- 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
Wed June 16th, 2004
3:00 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.

Recommended Open BW Positions
Short 2 September Swiss Francs 7963 avg
Long Sept SP500 1131.20
Short August Gold 384.0
Long 2 Sept Coffee 8440 avg
Short July Hogs 7762
Short July Soybean Oil 2734
Long Dec Cotton 5510