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Morning Comments Friday March 18th, 2005
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 March 17th , 2005
3:00 PM Eastern time
The Sensational Stock and Bond Markets
Dow Jones Industrial Average
Resistance is near 10680 and 10820
Support should appear near 10630 to 10580 and 10470
June SP500
Resistance should appear near 1197.50 to 1203.00
Support should appear near 1192.00 and 1180.50.. Below that buyers should appear near the 116.00 to 1164.00 region. BW Traders can buy at 1169.10 and hold for higher prices..
Aggressive BW Traders should go long if a close over 1217.60 occurs
Nasdaq Composite
Support should appear near the 2015 and the 1996.00 to 1982.00 region
Resistance should appear near 2034 to 2042.00
June Mini Nasdaq 100
Recommended open postion long at 1497
Resistance should appear near 1529 to 1535
Support is at 1496 to 1484 and 1459 to 1453
June Mini Russell 2000
Recommended open position long at 645.50
Support is at 619.00 to 616.50.
Resistance is at 633.70 to 635.00
June 10 Year T-Note
Resistance should appear near 109-22 and 110-07
Support should appear near 109-07 and 108-22
The Frenzied Forex Front
June Yen
Resistance should appear near 9706 to 9737
Support should appear near 9625 and the 9542 to 9526 region
BW Traders should go long if a close over 9739 occurs.
June Euro Currency (EC)
Recommended open position short at 13337
Support should appear at 13400 and 13340
Resistance should appear near 13460 and 13615
June Swiss Franc
Recommended open position short at 8637
Resistance should appear near 8762 to 8777 and the 8856 to 8871 region.
Support should appear near 8683 to 8668 and 8589 to 8560.
June British Pound
Support should appear near 19090 to 19020
Resistance should appear near 19276 and 19460 to 19530
June Canadian Dollar
Support should appear near 8314 to 8300
Resistance is at 8391 to 8406
June Aussie Dollar
Resistance should appear near 7939 to 7954
Support should appear near 7864 to 7836
Precious Metals
April Gold
Recommended Open Position Short at 441.6
Resistance should appear at 442.5 to 444.6 and 450.3 to 451.4
Support is at 438.1 to 437 and 431.5 to 430.4.
May Copper
Support should appear near 14960 to 14840 and 14590 to 14530
Resistance should appear near 15290 to 15350 BW. Traders can sell at 152.70 and risk a close over 1.5830 for three days in a row.. BW Traders should go short if a close under 145.10 occurs.
May Silver
Support should appear near 734.5 to 732.5 Below that a test of 717.0 to 714.0 is likely,.
Resistance is at 748.5 to 751.5 and 758.5 to 760.5
The Exciting Energies
April Crude Oil
Resistance should appear near 5640 to 5653 and 5716 to 5729
Support should appear near 5577 to 5553 and 5430 to 5418
April Unleaded Gas
Resistance should appear 15690 to 15760 and 16090 to 16150
Support should appear near 15350 to 15290 and 14960 to 14840
April Heating Oil
Resistance should appear 16090 to 16150
Support should appear near 15350 to 15290
The Lively Livestock
April Cattle
Recommended open position Short 2 at 8897 avg
Support should appear near 8777 to 8762 and 8682 to 8667
Resistance is at 8857 to 8872 and 8932 to 8967
June Cattle
Recommended open position Short at 8585
April Hogs
Support should appear near 7002 to 6992 then 6922 to 6907
Resistance should appear near 7072 to 7087 then 7142 to 7172 and 7242 to 7257
June Hogs
Support is 7867 to 7837 then 7777 to 7762 and 7692 to 7677 region
Resistance should appear near 7937 to 7957 and 8027 to 8047
May Pork Bellies
Recommended open position short at 9137
Resistance should appear near 9157 then 9237 and the 9317 to 9347 region
Support is at 9062 to 9042 and 8967 to 8937, a close under is negative and augurs for a test of
the 8872 to 8857 region. BW Traders should go short if a close under 8932 occurs.
The Grande’ Grains
May Soybeans
Support is 667 1/4 to 665 3/4 and 659 1./2 to 657 3/4
Resistance should appear near 674 1/4 to 675 1/2 and 680 3/4 to 683 3/4
May Soymeal
Support should appear near 195.3 to 194.6 and 190.9 to 190.2
Resistance should appear near 198.2 to 199.6 and 203.4 to 204.2
May Soybean Oil
Resistance should appear near 2461 to 2469 and 2511 to 2519
Support should appear near 2419 to 2411 and 2370 to 2354
May Corn
Support should appear near 222 3/4 to 221 3/4 and the 218 to 217 1/2 region.
Resistance is at 226 3/4 to 227 1/2 and 231 1/2 to 232 1/4
May CBOT Wheat
Recommended open position short 355 1/4
Resistance should appear near 368 1/2 and the 373 1/2 to 374 3/4 region.
Support should appear near 362 1/4 to 361 1/4 and 356 1/4 to 355 1/4
The Satisfying Softs
May 'The Monster' Coffee
Recommended open position Long 2 at 128.25 avg
Support is near 13460 to 13340 and 13100 to 13040 Below that buyers should appear near 12740 to 12680 and contain a decline.. BW Traders can buy at 12750 and risk a close under 11890 for three days in a row.
Resistance should appear near the 13770 to 13830, a close over is friendly and augurs for a test of the 14150 to 14210 region.
BW Traders should go long if a close over 13840 occurs
May Cocoa
Support is at 1822 to 1808 and 1780 to 1774
Resistance is at 1858 to 1885 and 1902 to 1909
May Sugar
Recommended open position Long at 912
Support should appear near 912 to 907 and 882 to 877
Resistance should appear near 932 to 941 and 968 to 972
May Cotton
Recommended open position Long at 5155
Support should appear near 5125 then 5065 to 5055 and 4995 to 4970
Resistance should appear near 5200 to 5210 and 5255 to 5185
- 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 March 17th, 2005
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 – 2005 all rights reserved Terms
BW Recommended Open Positions
Long June Mini Nasdaq 1497
Long June Mini Russell 645.50
Short June EC 13337
Short June Swiss Francs 8637
Short April Gold 441.6
Short 2 April Cattle 8897 avg
Short May Pork Bellies 9137
Short June Cattle 8585
Short May Wheat 355 ¼
Long 2 May Coffee 12825 avg
Long May Cotton 5155
Long May Sugar 912