Economic and Investment Trend Analysis

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FuturesCom Investment Publications
Morning Comments Friday July 30th,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 29th, 2004
1:30 PM eastern time

Open BW Positions
The Frenzied Forex Front

Sept Yen
Resistance should appear near 8964 and the 9044 to 9060 region
Support should appear near 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
Resistance should appear near 7836 to 7864 and 7939 to 7954.
Support should appear near 7777 to 7763 and 7689 to 7675

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 7513 to 7486
Resistance is at 7587 to 7601

Sept Aussie Dollar
Recommended open position short at 6951
Support should appear near 6919 to 6906
Resistance should appear at 6990 to 7003

The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance should appear near 10136 and 10185
Support should appear near 10104 and 10037 to 10021

September SP500
Recommended open position Long 4 at 1124 80 avg
Resistance should appear near 1101.00 and 1115.50
Support should appear near 1096.00 and 1082.00.

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

Sept Mini Nasdaq 100
Resistance is at 1415.00 to 1421.00
Support is at 1383.00 to 1377.00

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

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 .and 380.6 to 379.5

Sept Copper
Support should appear near 12740 to 126.80 and 123.80 to 123.20
Resistance should appear near 130.40 to 131.00 and 133.40 to 134.60

Sept Silver
Recommended open position short at 633
Support should appear 635 to 633.5 and 627 to 625
Resistance is at 641.5 to 643 and 648.5 to 651

                              The Exciting Energies

Sept Crude Oil
Resistance should appear near 4304 to 4310 then 4370 to 4381 and 4425 to 4446
Support should appear near 4249 to 4238 and 4183 to 4163

Sept Unleaded Gas
Recommended open position short 12435
Resistance should appear near 130.40 to131.00 and 13340 to 13460
Support should appear near 12740 to 12680 and 12380 to 12320

Sept Heating Oil
Resistance should appear near 11640 to 11690.and 11920 to 12030
Support should appear near 11360 to 11300 and 11010 to 10960.

                                                The Lively Livestock

October Cattle
Support should appear near the 8932 then 8882 to 8857 and 8777 to 8762
Resistance is at 9047 to 9062 then 9137 to 9157 and 9237

August Hogs
Recommended open position Short 7557
Support is at 7777 to 7762 and 7692 to 7672
Resistance is at 7837 to 7867 and 7937 to 7957

October Hogs
Recommended open position Short 2 at 6612 avg
Resistance is at 6990 to 7002 then 7072 to 7087 and 7142 to 7172
Support is at 6922 to 6907 and 6837 to 6807

August Pork Bellies
Recommended open position Short 10395
Resistance should appear near 10577 to 10627 and10682 .
Support is 10472 then 10362 to 10317 and 10187

The Grande’ Grains

December Corn
Support should appear near 222 3/4 to 221 3/4 and 218 1/2 to 217
Resistance is at 227 1/2 and 235 1/2 to 237

November Soybeans
Support is at 572 3/4 to 571 3/4 and the 557 3/4 to 555 1/2 region ..
Resistance is at 585 1/2 to 588 and 602 1/4 to 603 1/2.

December Soymeal
Support should appear near 180.80 then 178.0 to 177.4 and 173.8 to 173.1
Resistance should appear near 182.2 then 185.8 to 186.5.and 190.2 to 190.9

December Soybean Oil
Recommended open position short at 2145
Resistance should appear near 2170 to 2185 and 2226 then 2267
Support should appear near 2134 to 2126 . below that a test of 2042 to 2034 is likely..

Sept CBOT Wheat
Support should appear near 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 319 1/2 to 321 1/4 and 326 1/4 to 327 .

The Satisfying Softs

September Coffee
Recommended Open position long at 7360
Support should appear near 6755 to 6740 then 6670 to 6655 and the 6590 to 6575 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 at 1594
Support is at 1655 to 1642 and 1615 to 1609 .
Resistance is at 1689 to 1696 and 1731 to 1738 .

October Sugar
Recommended Open Position Short at 811
Support should appear near 795 to 791 and the 767 to 763 region.
Resistance should appear near 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 4380 to 4370 then 4315 to 4305 and 4250 to 4235
Resistance should appear near 4435 to 4445 then 4505 to 4515 and

- 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 29th 2004
4:30 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 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 August Pork Bellies 10395
Short Dec Soybean Oil 2145
Long Sept Coffee 7360
Short Sept Cocoa 1594
Short Oct Sugar 811

Terms