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Morning Comments Tuesday November 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
Monday November 29th, 2004
1:00 PM Eastern time
The Sensational Stock and Bond Markets
Dow Jones Industrial Average
Resistance should appear near the 10580 to 10630 and 10680
Support should appear near 10470 and 10360 to 10320, which should contain a decline…
Dec SP500
Recommended open position long 2 at 1181.50
Resistance should appear near 1186.30 and 1192.00 to 1203.00
Support should appear near 1180.5 then 1174.3 and the 1169.00 to 1164.00 region.
Stay tuned for Flashes and Updates
March SP500
Resistance should appear near 1192 to 1197.50
Support should appear near 1169.00 to 1164.00.. Traders can buy at 1169.30 for a good bounce. Below that buyers should appear near 1150.00. BW Traders can buy at 1150.20 and hold for higher prices..
BW Traders should go long if a close over 1197.50 occurs
Nasdaq Composite
Support should appear near 2089 to 2088 and 2042 to 2034
Resistance should appear near 2126 to 2134.
Dec Mini Nasdaq 100
Recommended open position long at 1582.5
Resistance is at 1592.5 and 1609 to 1615
Support is at 1576 to 1569 then 1552 and 1535 to 1529 ..BW Traders can buy at 1553 and risk a close under 1522 for three days in a row. …
BW Traders should go long if a close over 1593 occurs
Dec Mini Russell 2000
Recommended open position long at 630.4
Support is at 635 to 633.7 then 627 to 625.7 and 619 to 616.5.. Below that buyers should appear near 611.3 to 610.1 and the 603.5 to 602.3 region . BW Traders can buy at 611.7 and risk a close under 601.5 for three days in a row.
Resistance is at 641.7 to 643. Beyond that a test of 648.3 to 650.9 is likely.
BW Traders should go long if a close over 635.5 occurs
March 10 Year T-Note
Resistance should appear near 111-07 and 111-22
Support is at 110-22 and 110-07
The Frenzied Forex Front
March Yen
Resistance should appear near 9821 to 9837 and the 9921 to 9937 region.
Support should appear near 9737 to 9706 and the 9641 to 9625 region,
a close under augurs for an eventual test of 9347 to 9316.
March Euro Currency (EC)
Support should appear at 13220 and 13100 to 13030
Resistance should appear near 13340 to 13460 and the 13770 to 13830 region
March Swiss Franc
Resistance should appear near 8856 to 8871 and 8934 to 8964.
Support should appear near 8777 to 8762 and 8683 to 8668.
March British Pound
Support should appear near 18650 to 18580
Resistance should appear near the 19020 to 19090..
March Canadian Dollar
Support should appear near 8406 to 8391, below that buyers should appear near 8314 to 8300
Resistance is at 8484 to 8499 and 8560 to 8589.
March Aussie Dollar
Support should appear near 7777 to 7763 and 7689 to 7675
Resistance should appear at 7835 to 7865 and the 7939 to 7954 region
Precious Metals
February Gold
Resistance should appear at 457.1 to 458.2 and 463.9 to 465.0
Support is at 451.4 to 450.3 and 444.6 to 442.5
March Copper
Support should appear near 142.1 to 141.5 and the 138.3 to 137.7 region.
Resistance should appear near the 145.3 to 145.9 and the 148.4 to 149.6 region.
March Silver
Support should appear 777.5 to 776.5 and 760.0 to 758.5
Resistance is at 793.5 to 795.5 and 812 to 813.5
The Exciting Energies
Jan Crude Oil
Resistance should appear near 4973 to 4995 then 5056 to 5067 and 5127 to 5139.
Support should appear near 4926 to 4915 and 4856 to 4845.
Jan Unleaded Gas
Recommended open position short 2 at 12855 avg
Resistance should appear near 13340 to 13460 and 13770 to 13830. Beyond that sellers should appear near 141.5 to 142.1 and the 145.3 to 145,.9 region.
Support should appear near 13100 to 13040 and 12740 to 12680. A close under augurs for a test of 12380 to 12320 and the 12030 to 11920 region.
Jan Heating Oil
Resistance should appear near 14840 to 14960 and 15290 to 15350. Beyond sellers should appear near 156.9 to 157.6 and cap a rally
Support should appear near 14530 and 14210 to 14150. Below that a test of 13830 to 13770 is likely.
The Lively Livestock
February Cattle
Recommended open position short 3 at 8652 avg
Support should appear near 8967 to 8937 and the 8872 to 8857 region. .
Resistance is at 9042 to 9062 and the 9142 to 9157 region.
BW Traders should go short if a close under 8932 occurs.
February Hogs
Recommended open position short 3 at 7257 avg
Support is at 7602 to 7587 and 7512 to 7487
Resistance should appear near 7677 to 7692 and the 7762 to 7777 region ..
BW Traders should go short if a close under 7482 occurs
February Pork Bellies
Recommended open position Short 10090
Resistance should appear near 10322 to 10362 and 10472..
Support is at 10137 to 10102 and 10037 to 10022 …
The Grande’ Grains
March Corn
Support should appear near 204 1/4 to 203 1/2 and 199 3/4 to 198 1/4
Resistance is at 208 to 208 3/4 and 212 3/4 to 213 1/2 BW Traders can sell at 212 1/4 and risk a close over 218 3/4 for three days in a row.
January Soybeans
Support is at 535 3/4 to 534 1/2 , a close under augurs for a test of 528 1/4 to 525 3/4
Resistance is at 541 3/4 to 543 and 549 1/4 to 550 1/2
BW Traders should go short if a close under 533 3/4 occurs.
January Soymeal
Recommended open position short 158.2
Support should appear near 157.6 to 156.9. Below that a test of 153.5 to 152.9 is likely.
Resistance should appear near 160.9 to 161.5 and 164.2 to 165.5
January Soybean Oil
Recommended open position short 2049
Resistance should appear near 2080 to 2089 and 2126 to 2134
Support should appear near 2042 to 2034 and 1996 to 1982
March CBOT Wheat
Support should appear near 299 to 297 1/4 Below that buyers should appear near 288 3/4 to 287 1/2
and the 282 ¾ to 282 region. BW Traders can buy at 283 1/4 for a bounce and risk a close under 274 3/4 for three days in a row.
Resistance should appear near 303 3/4 to 304 1/2 and 309 1/4 to 310 1/4
The Satisfying Softs
March Coffee
Recommended open position long 2 at 9600 avg
Support is near 9735 to 9705 and 9645 to 9625 ..under that 9545 to 9525 should hold
Resistance should appear near 9920 to 9935 and the 10105 to 10135 region.
March Cocoa
Support is at 1576 to 1569 and 1535 to 1529
Resistance is at 1609 to 1615 and the 1642 to 1655 region.
March Sugar
Support should appear near 882 to 877 and 852 to 847
Resistance should appear near 907 to 912 and 932 to 941.
March Cotton
Recommended open position short at 4370
Support should appear near 4380 to 4370 and 4250 to 4235 .
Resistance should appear near 4425 to 4445. Beyond that sellers should appear near the 4505 to 4515
BW Traders should go short if a close under 4235 occurs.
- 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
Monday November 29th, 2004
3:20 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 Terms
Recommended Open Positions
Long 2 Dec SP500 at 1181.50
Long Dec mini Nasdaq 1582.5
Long Dec mini Russell 630.4
Short 2 Jan Unleaded Gas 12855 avg
Short 3 Feb Cattle 8652 avg
Short 3 Feb Hogs 7257 avg
Short Feb Bellies 10090
Short January Soymeal 158.2
Short January Soybean Oil 2049
Long 2 March Coffee 9600 avg
Short March Cotton at 4370