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Morning Comments Friday December 3rd 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
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Thursday Dec 2nd 2004
2:30 PM Eastern time
The Sensational Stock and Bond Markets
Dow Jones Industrial Average
Resistance should appear near 10580 to 10630 and 10680
Support should appear near 10470 and 10360 to 10320
Dec SP500
Recommended open position long at 1181.50
Resistance should appear near 1192.00 to 1203.00 and 1217.5
Support should appear near 1180.5 and the 1169.00 to 1164.00 region.
Stay tuned for Flashes and Updates
March SP500
Resistance should appear near 1197.50 to 1203
Support should appear near 1180.5 and 1169.00 to 1164.00.. BW Traders can buy at 1169.30 for a good bounce.
BW Traders should go long if a close over 1197.50 occurs
Nasdaq Composite
Support should appear near 2134 to 2126
Resistance should appear near 2170 to 2185
Dec Mini Nasdaq 100
Recommended open position long at 1602.5
Resistance is at1642 to 1655
Support is at 1615 to 1609 and 1592.5 .
Dec Mini Russell 2000
Recommended open position long 635.7
Support is at 643 to 641.7 and 635 to 633.7
Resistance is at 648.3 to 650.9
March 10 Year T-Note
Resistance should appear near 110-22 and 111-07
Support is at 110-07 and 109-22
The Frenzied Forex Front
March Yen
Resistance should appear near 9821 to 9837.
Support should appear near 9737 to 9706
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 8762 to 8777 and 8856 to 8871.
Support should appear near 8683 to 8668.and 8589 to8560
March British Pound
Support should appear near 19090 to 19020
Resistance should appear near the 19460 to 19530.
March Canadian Dollar
Support should appear near 8314 to 8300
Resistance is at 8391 to 8406 and 8484 to 8499
March Aussie Dollar
Support should appear near 7689 to 7675 and 7601 to 7587
Resistance should appear at 7763 to 7777
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 13460 to 13340
Resistance should appear near the 13770 to 13830 and 141.50 to 142.10
March Silver
Support should appear 786.5 to 783.5 and 777.5 to 776.5
Resistance is at 795.5 to 797.5 and 812 to 813.5
The Exciting Energies
Jan Crude Oil
Resistance should appear near 4370 to 4381 and 4425 to 4446
Support should appear near 4249 to 4238 and 4183 to 4163
Jan Unleaded Gas
Resistance should appear near 11640 to 11690 and 11920 to 12030
Support should appear near 11360 to 11300 and 11010 to 10960
Jan Heating Oil
Resistance should appear near 12680 to 12740 and 13040 to 13100
Support should appear near 12380 to 12320 and 12030 to 11920
The Lively Livestock
February Cattle
Recommended open position short 2 at 8747 avg
Support should appear near 8777 to 8762 and 8682 to 8667 .
Resistance is at 8857 to 8872 and 8937 to 8967
February Hogs
Recommended open position short 2 at 7352 avg
Support is at 7512 to 7487 and 7432 to 7417
Resistance should appear near 7602 and 7672 to 7692
February Pork Bellies
Recommended open position Short 10090
Resistance should appear near 10107 to 10137 and 10237
Support is at 10037 to 10022 and 9937 to 9922
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 520 and 513 3/4 to 512 3/4
Resistance is at 525 3/4 to 528 1/2 and 534 1/2 to 535 3/4
January Soymeal
Support
should appear near 152.9 and 149.6 to 148.4
Resistance should appear near 156.9 to 157.6 and 160.9 to 161.5
January Soybean Oil
Resistance
should appear near 2034 to 2042 and 2080 to 2089
Support should appear near 1996 to 1982
March CBOT Wheat
Support should appear near 293 3/4 to 292 3/4 then 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 297 1/4 to 299 and 303 3/4 to 304 1/2
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 1642 and 1615 to1609
Resistance is at 1689 to 1696 and 1731 to 1738
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 4315 to 4305 and 4250 to 4235
Resistance should appear near 4370 to 4385 and 4425 to 4445
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
Thursday December 2nd, 2004
3:40 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 Dec SP500 at 1181.50
Long Dec mini Nasdaq 1602.5
Long Dec mini Russell 635.7
Short 2 Feb Cattle 8747 avg
Short 2 Feb Hogs 7352 avg
Short Feb Bellies 10090
Long 2 March Coffee 9600 avg
Short March Cotton at 4370