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Morning Comments Tuesday May 24th, 2005
Serving
Professional and Individual Traders World Wide since 1988
1650
SW Malmo Rd , Port St. Lucie , Florida 34953 - USA and Canada Toll Free :
1-866-409-3890
- Intl : 1- 772-621-4234 http://www.futurescom.com
Monday
May 23rd , 2005
2:00 PM Eastern time
Open BW Positions
The Sensational Stock and Bond Markets
Dow Jones Industrial Average
Resistance should
appear near 10580 to 10680
Support should appear near 10360 to 10320 and 10257
June
SP500
Recommended Open position Long
1180.6
Resistance should appear near 1197.50
to 1203.00 . A close over is
friendly and augurs for a trade towards 1217.50
Support should appear near 1192.00 and 1180.50.
Nasdaq Composite
Support remains near 2042 to 2034
Resistance should appear near 2080 to 2089
June Mini Nasdaq 100
Resistance should appear near the 1569.00
to 1576.00 region..
Support is at 1535.00 to 1529.00 .
June Mini Russell 2000
Recommended Open Position Long at
Support is at 611.30 to 610.10 and 603.5 to 602.3
Resistance
should appear near 616.5 to 619.0 and the 625.7 to 627.0 region.
BW Traders should go long if a close over 611.7 occurs
Sept 10 Year T-Note
Resistance should appear near 113-07
.. Beyond that sellers should appear near 113-22 to 114-07 and cap a rally
Support
at 112-22 and 112-07.
Sept 30 Yr T-Bond
Resistance should appear near 116-22.. Beyond that sellers should appear
near 117-07
Support
at 115-22 and 115-07
June Yen
Resistance should appear near 9316 to 9347 and the 9429 to 9445 region...
Support should appear near 9156 to 9140 and the 9060 to 9044 region…
June Euro Currency (EC)
Recommended open positions Short 12636
Support should appear at 12530, below
that an eventual test of 12380 to 12320 region is likely
Resistance should appear near 12680 to 12740 and 12890.
BW Traders should go short if a close under 12522 occurs
June Swiss
Franc
Resistance should appear near 8194 to 8223 and the 8300 to 8314 region
BW Traders can sell at 8300 and risk a close over 8422 for three days in a row
Support should appear near 8134 to
8119 and 8044 to 8029, a close under augurs for a test of 7954 to 7939.
June British Pound
Support should appear near 18220 to 18080
Resistance should appear near 18400 and 18580 to 18650
June Canadian Dollar
Support should appear near 7864
to 7836
Resistance is at 7954 and the 8029 to 8044 region
Resistance
BW Traders can sell at 7675 and
risk a close over 7696 for three days in a row .
Support should appear near the 7513 to 7486, a close under augurs for a test
of 7428 to 7414,
BW Traders should go short if a close under 7482 occurs
Precious Metals
Recommended open position short 422.2
Resistance should appear at 423.8 to 424.9 and 430.4 to 431.5 .
Support is at the 412.00 to 411.00 region and the 405.6 to 404.6 region
BW Traders should go short if a close under 416.2 occurs.
July Copper
Support should appear near 12830 to 13770
Resistance should appear near the
14150 to 14210 region.
July Silver
Support should appear near 683.5 to 680.5 region.
Resistance is at 707.5 to 708.5
The Exciting Energies
Resistance
should appear near 4915
to 4926 and 4973 to 4995.
Beyond that sellers should appear near 5056 to 5067, which should cap a rally.
Support should appear near
4856 to 4845 and 4717 to 4695
Resistance should appear near
14100 to 14210 and 14530 to 14590.
Support should appear near 13830 to
13770 and the 13460 to 13340 region .
July Heating Oil
Resistance should appear near
13770 to 138730 and 14150 to 14210 , which should cap a rally .
Support should appear near 13460 to 13340 and 13100 to 13040 ..
The Lively Livestock
August Cattle
Support should appear near 8317 to 8302.. Below that buyers should appear
near 8222 to 8192
Resistance is at near 8392 to 8407 and 8482 to 8502
June Hogs
Support is at 7142 and the 7087 to 7072 region.. Below that a test of 7002
to 6992 is likely.
Resistance is at 7242 to 7257 and
the 7327 to 7342 region.
July Hogs
Support is at 7002 to 6992 and the 6922 to 6907 region.
Resistance is at 7142 to 7172 and
7242 to 7257
October Hogs
Support is at 6037 to 6022 region.. Below that a test of 5957 to
5942 is likely
Resistance is at 6102 to 6117 and
6162 to 6192
July Pork Bellies
Recommended Open Position Short 8165
Resistance should appear near
7937 to 7962 and the 8027 to 8047 region..
Support is at 7867 to 7837
and 7777 to 7762.
The
Grande’ Grains
July Soybeans
Support is at 635 to
633 3/4 , a close under augurs for a test of the
619 to 616 1/2 region.
Resistance should appear near 641 3/4 to 643
Beyond that sellers should appear near 657 3/4 to 659 1/4 and the 665 3/4
to 667 1/4 region..
BW Traders can sell at 667 1/4 and risk a
close over 684 3/4 for three days in a row. ..
July Soymeal
Recommended Open Position Short at
189.4
Support should appear near 195.3 to 194.6 and 190.9 to 190.2 a
close under is negative and augurs
for a test of the 182.2 to 180.8 region.
Resistance should appear near 203.4 to 204.2
beyond that sellers should appear near 212.6 to 213.4.
Aggressive BW Traders can sell at
212.4 and risk a close over 222.9 for three days in row.
BW Traders should go short if a
close under 194.4 occurs
July Soybean Oil
Resistance should appear near 2275 and 2354 to 2370 .
Support should appear near 2226 to 2219, A close
under augurs for a test of 2185 to
2170.
July Corn
Support should appear near 222 3/4 to 221 3/4 and 218 1/2
to 217
Resistance should appear near 226 3/4 to 227 1/2 and 231 1/2
to 232 1/4
BW Traders can sell at 225 3/4 and risk a close over 228 3/4 for three
days in a row.
July CBOT Wheat
Recommended Open Position Short at
331 3/4
Resistance should appear near 337 3/4 to 338 3/4 and 342 1/2 to
344 1/2.
Support should appear near 332 3/4 to 331 3/4 and the 327 to 326 1/4
region.
BW Traders should go short if a close under 314 1/4 occurs.
The Satisfying Softs
July
'The Monster' Coffee
Recommended open position long 2 at
12700 avg
Support should appear near
11690 to 11640 and 11360 to 11300..
Resistance should appear near 11920 to 12030 and 12320 to 12380
July
Support is at 1421 to 1415 and
1383 to 1377.. Below that a test of 1346 to 1334 is likely.
Resistance is at 1459 and 1484
to 1496 .Beyond that sellers should appear near 1529 to 1535,
which should cap a rally..
July
Sugar
Support should appear near 852 to 847 and 823 to 814
Resistance should appear near 877 to 882 and 907 to 912
July
Cotton
Support should appear
near 4995 to 4970 and the 4855 to 4845 region .. Below that buyers should appear
near
4785 to 4775
Resistance should appear near 5055 to 5070 and 5125 to 5140
- 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
3:00 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 5-23-2005
Long
June SP500 1180.6
Short June EC 12636
Short June Gold 422.2
Short July Pork Bellies 8165
Short July Soymeal 189.4
Short July Wheat 331 3/4
Long 2 July Coffee 12700 avg