Economic and Investment Trend Analysis

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FuturesCom Investment Publications
Morning Comments Friday July 23rd,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 22nd, 2004
4:30 PM eastern time

Open BW Positions

The Frenzied Forex Front

Sept Yen
Resistance should appear near 9140 to 9156
Support should appear near 9060 to 9044.

Sept Euro Currency (EC)
Recommended open position Short at 12172
Support should appear at 12175 and 12102
Resistance is at 12247 and 12320 to 12350

Sept Swiss Franc
Resistance should appear near 8029 to 8044 and 8119 to 8134
Support should appear near 7954 to 7939 and 7864 to 7836

Sept British Pound
Support should appear near 18220 to 18150 and 18080
Resistance should appear near 18400 and 18580 to 18650

Sept Canadian Dollar
Recommended open position Short at 7540
Support should appear near 7513 to 7487
Resistance is at 7587 to 7601 and 7675 to 7689

Sept Aussie Dollar
Support should appear near 7088 to 7074 and 7003 to 6990
Resistance should appear at 7143 to 7170 and 7242 to 7255

The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance should appear near 10104 to 10136
Support should appear near 10037 to 10021 and 9937 to 9921

September SP500
Recommended open position Long 4 at 1124 80 avg
Resistance should appear near 1096.00 to 1101.00 and 1115.50
Support should appear near 1089.5 then 1082.00 and 1068.00 to 1058.00

Nasdaq Composite
Support should appear near 1865 to 1858
Resistance should appear near 1902 to 1909

Sept Mini Nasdaq 100
Resistance is at 1415 to 1421
Support is at 1383 to 1377

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 398.3 to 399.2 and 404.6 to 405.6
Support is at 392.9 to 390.9 and 386.7 to 385.8

December Gold
Recommended open position short 2 at 401.00

Sept Copper
Support should appear near 12740 to 12680 and 12380 to 12320
Resistance should appear near 13040 to 13100 and 113340 to 113460

Sept Silver
Recommended open position short at 633
Support should appear 627 to 625.5 and 619 to 616.5
Resistance is at 648.5 to 651 and 657.5 to 659

The Exciting Energies
Sept Crude Oil
Resistance should appear near 4163 to 4183 and 4238 to 4249
Support should appear near 4120 to 4110 then 4056 to 4046 and 3992 to 3982

Sept Unleaded Gas
Resistance should appear near 12500 and 12680 to 12740
Support should appear near 12380 to 123.20 and 12030 to 11920

Sept Heating Oil
Resistance should appear near 11300 to 11360 and 11640 to 11690
Support should appear near 11010 to 10960 and 10680 to 10580 .

                                                   The Lively Livestock
August Cattle
Support should appear near 8777 to 8762 then 8682 to 8667 and 8592 to 8562
Resistance is at 8857 to 8872 then 8932 to 8967 and 9042 to 9062

August Hogs
Recommended open position Short at 7550
Support is at 7342 to 7327 and 7257 to 7242
Resistance is at 7427 then 7487 to 7512 and 7587 to 7602

October Hogs
Support is at 6432 to 6417 and 6352 to 6337
Resistance is at 6482 to 6512 and 6577 to 6592

August Pork Bellies
Recommended open position short at 10920
Resistance should appear near 10577 to 10632 and 10682
Support is 10472 and the 10362 to 10317 region

                                  The Grande’ Grains
December Corn
Support should appear near 227 1/2 to 226 3/4 and the 222 3/4 to 221 3/4 region
Resistance is at231 1/2 to 232 1/4 and 235 1/2 to 237

November Beans
Support is at 588 to 585 1/2 and the 580 1/2 to 579 1/4 region
Resistance is at 594 1/2 to 595 3/4 and 602 1/4 to 603 1/2

December Soymeal
Support should appear near 182.2 to 180.8 and the 178 to 177.4 region..
Resistance should appear near 185.8 to 186.5 and 190.2 to 190.9

December Soybean Oil
Resistance should appear near 2219 to 2226 and 2267 to 2275
Support should appear near 2185 to 2170 and 2134 to 2128
BW Traders should go short if a close under 2212 occurs

Sept CBOT Wheat
Support should appear near 321 1/4 to 319 1/4 and 315 3/4 to 314 3/4 .
Resistance should appear near 326 1/4 to 327 and 331 3/4 to 332 3/4.

The Satisfying Softs

September Coffee
Recommended Open Position Long at 7360
Support is near 7090 to 7075 and 7005 to 6990
Resistance should appear near 7240 to 7255 and 7325 to 7340 .

Sept Cocoa
Recommended open position short at 1452
Support is at 1615 to 1609 and 1576 to 1569
Resistance is at 1642 to 1655

October Sugar
Recommended open position short 811
Support should appear near 795 to 791 and 763 to 767
Resistance should appear near 814 to 823 and 847 to 852

December Cotton
Support should appear near 4650 to 4635 then 4585 to 4570 and 4515 to 4505
Resistance should appear near 4715 then 4775 to 4785 and 4845 to 4855
- 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 22nd
5:30 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.

Recommended Open BW Positions
Short Sept EC 12172
Short Sept Canadian Dollar 7540
Long 4 Sept SP500 1124.80 avg
Short 2 August Gold 391.7 avg
Short 2 December Gold 401
Short Sept Silver 633
Short August Hogs 7550
Short August Pork Bellies 10920
Long Sept Coffee 7360
Short Sept Cocoa 1452
Short Oct Sugar 811

Terms