Economic and Investment Trend Analysis

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FuturesCom Investment Publications
Morning Comments Friday July 9th,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

Thursday July 8th, 2004
7:00 PM eastern time

Open BW Positions

The Frenzied Forex Front
Sept Yen
Resistance should appear near 9316 to 9347
Support should appear near 9156 to 9140.

Sept Euro Currency (EC)
Recommended open position Short 12172
Support should appear at 12380 to 12350 and 12320
Resistance is at 12440 and 12500

Sept Swiss Franc
Recommended Open Position Short 2 at 7963 Avg
Resistance should appear near 8194 to 8223
Support should appear near 8134 to 8119

Sept British Pound
Support should appear near 18400 and 18220 to 18150
Resistance should appear near 18580 to 18650

Sept Canadian Dollar
Support should appear near 7587 and 7513 to 7487
Resistance is at 7675 to 7689

Sept Aussie Dollar
Support should appear near 7170 to 7143
Resistance should appear at 7242 to 7255

The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance should appear near 10185 and 10257
Support should appear near 10136 to 10104

September SP500
Recommended open position Long 4 at 1124 80 avg
Resistance should appear near the 1130.00 to 1136.00 region
Support should appear near the 1101.00 to 1096.00 region
* BW Traders should go long if a close over 1123.30 occurs.

Nasdaq Composite
Support should appear near 1909 to 1902
Resistance should appear near 1946 to 1953

Sept Mini Nasdaq 100
Resistance is at 1453 to 1459
Support is at 1421 to 1415

Sept 10 Year T-Note
Resistance should appear near 110-22 and 111-07
Support is at 110-07 and 109-22

Precious Metals

August Gold
Recommended Open position Short 2 at 391.7 avg
Resistance should appear at 416.3 to 418.3
Support is at 405.6.to 404.6

Sept Copper
Support should appear near 12380 to 12320
Resistance should appear near 12680 to 12740

Sept Silver
Recommended open position Short at 633
Support should appear 627 to 625.5 and 603.5 to 602.5 .
Resistance is at 648 to 650.5 and 665.5 to 667.5

The Exciting Energies
August Crude Oil
Resistance should appear near 4046 to 4056 and 4163 to 4183
Support should appear near 3929 to 3909 and 3867 to 3858

August Unleaded Gas
Resistance should appear near 13340 to 13460 and 13770 to 13830
Support should appear near 13100 to 13040 and 12740 to 12680

August Heating Oil
Resistance should appear near 11010 and 11300 to 11360
Support should appear near 10820 and 10680 to 10580

The Lively Livestock
August Cattle
Recommended open position Short at 8645
Support should appear near 8407 to 8392 and 8317 to 8302
Resistance is at 8487 to 8502 and 8562 to 8587

August Hogs
Recommended Open Position Short 2 at 7627 avg
Support is at 7512 to 7487 and the 7432 to 7412 region.
Resistance is at 7587 to 7602 and 7677 to 7692

August Pork Bellies
Resistance should appear near 11302 to 11362
Support is 11012 to 10962

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

The Grande’ Grains

Sept Corn
Support should appear near 241 3/4 to 241 1/4
Resistance is at 251 1/4 to 251 3/4

August Soybeans
Support is at 811 3/4 then 804 1/2 to 802 3/4 and 777 3/4 to 776 1/4
Resistance is at 819 1/2 to 822 1/4 then 830 to 831 1/2 and 839 1/4 to 840 3/4

November Beans
Support is at 650 3/4 to 648 1/4 and 643 to 641 3/4
Resistance is at 665 3/4 to 667 1/4 and 674 1/4 to 675 1/2

August Soymeal
Support should appear near 287.4 and 282.9 to 282.0
Resistance should appear near 292.8 to 293.7 then 297.2 to 299 and 303.6 to 304.5

August Soybean Oil
Resistance should appear near 2758 to 2775 and 2820 to 2829
Support should appear near 2724 to 2716 and 2620 to 2612

Sept CBOT Wheat
Support should appear near 338 3/4 to 337 3/4 and the 327 to 326 1/4 region ..
Resistance should appear near 349 1/4 to 350 1/4 and 355 1/4 to 356 1/4

The Satisfying Softs

September Coffee
Support is near 6920 to 6905 and 6755 to 6740
Resistance should appear near 7075 to 7090

Sept Cocoa
Support is at 1421 to 1415 and 1383 to 1377
Resistance is at 1453 to 1459 and 1484 to 1496

October Sugar
Support should appear near 795 to 791 and 767 to 763
Resistance should appear near 823 and 857 to 852

December Cotton
Support should appear near 4855 to 4845 then 4785 to 4775 and 4715 to 4695
Resistance should appear near 4915 to 4930 then 4970 to 4995 and 5055 to 5065

- 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
Thursday July 8th
8:00 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 Sept EC 12172
Short 2 September Swiss Francs 7963 avg
Long 4 Sept SP500 1124.80 avg
Short 2 August Gold 391.7 avg
Short August Cattle 8640
Short 2 August Hogs 7627 avg

Terms