Economic and Investment Trend Analysis

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FuturesCom Investment Publications
Morning Comments Wed July 28th,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

Tuesday July 27th, 2004
2:30 PM eastern time

Open BW Positions
The Frenzied Forex Front

Sept Yen
Recommended open position short at 9024
Resistance should appear near 9044 to 9060 then 9156 to 9140 and 9237 BW Traders can sell at 9233 and risk a close over 9357 for three days in a row..
Support should appear near 8964 to 8934 and the 8871 to 8856 region

Sept Euro Currency (EC)
Recommended open position Short at 12172
Support should appear at 12030 to 11975 and 11920.
Resistance is at 12102 and 12175 beyond that sellers should appear near 12247.
BW Traders should go short if a close under 11917 occurs

Sept Swiss Franc
Recommended open position Short at 7937
Resistance should appear near 7864 and 7939 to 7954.
Support should appear near the 7777 to 7763 region.

Sept British Pound
Recommended open positions short at 18135
Support should appear near 18080 and 17800 to 17740.
Resistance should appear near 18220 and 18400

Sept Canadian Dollar
Recommended open position short at 7507
Support should appear near 7486 and 7428 to 7414
Resistance is at 7513 and 7587 to7601

Sept Aussie Dollar
Recommended open position short at 6951
Support should appear near 6919 to 6906 and the 6836 to 6809 region.
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 10104 to 10136
Support should appear near 10037 to 10021 .

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 1082 and the 1068.00 to 1058.00 region.

Nasdaq Composite
Support should appear near 1865 to 1858 and 1822 to 1808
Resistance should appear near 1902 to1909

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 109-22 and 110-07.
Support is at 109-07 and 108-22

Precious Metals

December Gold
Recommended open position short at 389.7
Resistance should appear at 390.9 to 392.9 and 398.2 to 399.2
Support is at 387.7 to 385.8 ..Below that buyers should appear near 380.6 to 379.5.

Sept Copper
Support should appear near 12030 to 11920 and 11690 to 11640
Resistance should appear near 12320 to 12380 and 12680 to 12740

Sept Silver
Recommended open position short at 633
Support should appear 619 to 616.5 and 603.5 to 602.0
Resistance is at 625.5 to 627 and 633.5 to 637 Beyond that seller should appear near 641.5 to 643

                              The Exciting Energies

Sept Crude Oil
Resistance should appear near 4238 to 4249 and the 4303 to 4315 region… Above that 4370 to 4381 should cap a rally.
Support should appear near 4183 to 4163 and 4056 to 4046 .

Sept Unleaded Gas
Recommended open position short 12435
Resistance should appear near 12680 to 12740 and 13030 to 13100
Support should appear near 12380 to 12320 and the 12030 to 11920 region

Sept Heating Oil
Resistance should appear near 11360 and 11640 to 11690.
Support should appear near 11155 and 11010 to 10960.

                                                The Lively Livestock

October Cattle
Support should appear near the 8967 to 8932 and 8882 to 8857
Resistance is at 9137 to 9157 and 9317 to 9347

August Hogs
Recommended open position Short 7557
Support is at 7602 to 7587 and 7512 to 7487
Resistance is at 7692 then 7762 to 7777 and 7837 to 7867

October Hogs
Recommended open position Short 2 at 6612 avg
Support is at 6912 and 6837 to 6807 .
Resistance is at 6987 to 7002 and 7072 to 7087

August Pork Bellies
Resistance should appear near 10682 and 10822 .
Support is 10577 then 10472 and 10362
BW Traders should go short if a close under 10572 occurs

The Grande’ Grains

December Corn
Support should appear near 227 1/2 to 226 3/4 and 222 3/4 to 221 3/4.
Resistance is at 235 1/2 to 237 and 241 1/4 to 241 3/4 . Beyond that sellers should appear near 246 1/4 to 246 3/4 BW Traders can sell at 245 3/4 and risk a close over 273 1/4 for three days in a row.

November Soybeans
Support is at 588 to 585 1/2 and the 572 3/4 to 571 3/4 region..
Resistance is at 602 1/4 to 603 1/2 and 610 1/4 to 611 1/4 .

December Soymeal
Recommended open position short at 184.8
Support should appear near 182.2 to 180.8 and the 178.0 to 177.4 region.
Resistance should appear near 185.8 to 186.5 and 190.2 to 190.9 .Above that sellers should appear near the 194.6 to 195.3 region .BW .Traders can sell at 194.3 and hold for lower prices..

December Soybean Oil
Resistance should appear near 2226 then 2267 to 2275 and 2315 to 2322.
BW Traders can sell at 2314 and risk a close over 2426 for three days in a row.
Support should appear near 2185 to 2170.. below that a test of 2042 to 2034 is likely..
BW Traders should go short if a close under 2212 occurs.

Sept CBOT Wheat
Support should appear near 321 1/4 to 319 1/2 then 310 1/4 to 309 1/4 and the 304 1/2 to 303 3/4 region….BW Traders can buy at 304 3/4 for a bounce and risk a close under 291 3/4 for three days in a row..
Resistance should appear near 331 3/4 to 332 3/4 and 337 3/4 to 338 3/4 Beyond that sellers should appear near 342 1/2 to 344 1/4 BW Traders can sell at 342 1/2 and risk a close over 351 1/4 for three days in a row.. ..

The Satisfying Softs

September Coffee
Recommended Open position long at 7360
Support should appear near 6755 to 6740 and the 6670 to 6655 region.
BW Traders can buy at 6680 and hold for higher prices..
Resistance should appear near 6810 to 6835 then 6905 to 6920 and 6990 to 7005.

Sept Cocoa
Recommended open position Short 2 at 1522 avg
Support is at 1576 to 1569.. a close under is negative and augurs for a trade towards 1535 to 1529...
Resistance is at 1609 to 1615 and 1642 to 1655.

October Sugar
Recommended Open Position Short at 811
Support should appear near 795 to 791 and the 767 to 763 region. Below that a test of 739 to 735 is likely
Resistance should appear near 823 and 847 to 852..Beyond that sellers should appear near 877 to 882.. BW Traders can sell at 876 and risk a close over 917 for three days in a row.

December Cotton
Support should appear near 4445 to 4425 and the 4315 to 4305 region
Resistance should appear near 4505 to 4515 and 4570 to 4585.

- 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
Tuesday July 27, 2004
3:30 PM South Florida Beach Time

THIS PUBLICATION IS SUBJECT TO REVISIONS AND 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.
FuturesCom Investment Publications Copyright@1996-2004 all rights reserved

Recommended Open BW Positions
Short Sept Japanese Yen 9024
Short Sept EC 12172
Short Sept Swiss Francs 7937
Short Sept British Pounds 18135
Short Sept Canadian Dollars 7507
Short Sept Aussie Dollar 6951
Long 4 Sept SP500 1124.80 avg
Short Dec Gold 389.7
Short Sept Silver 633
Short Sept Unleaded Gas 12435
Short August Hogs 7550
Short 2 October Hogs 6612 avg
Short December Soymeal 184.8
Long Sept Coffee 7360
Short 2 Sept Cocoa 1522
Short Oct Sugar 811

Terms