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FuturesCom Investment Publications
Morning Comments Wed May 24th 2006
 Serving Professional and Individual Traders World Wide since 1979
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Tuesday May 23rd  2006
5:00  PM South Florida Beach Time             

                                The Sensational Stock and Bond Markets               
 

Dow Jones Industrial Average
Support at 11,010.00 to 10960.00  
Resistance should appear near 11,155

June SP500
Support at 1238.00 to 1232.00 region. BW  Traders can buy at 1238.30 for a good bounce 
Resistance should appear near 1250.00 and 1268.00 to 1274.00 .

NASDAQ Composite
Support should appear near  2134.00 to 2126.00.
Resistance remains near  2170 to 2185 and 2185.00  
Trade Accordingly 

June Mini Nasdaq 100
Resistance should appear near 1569.00 to 1576.00 and 1609 to 1615.. . 
Support should appear near the 1535 to 1529 region.. BW  Traders can buy at 1537.00 and hold for higher prices..                                                                                            

June Mini Russell 2000
Support is at 700.30 to 699.0 and the 683.60 to 680.90 region. BW  Traders can buy at 683.70 for a bounce and risk a close under 674.10 for three days in a row..
Resistance should appear near 707.40 to 708..80 and 714.3 to 717.0 ..

June 10 Year T-Note  
Resistance should appear near 105-21  beyond that sellers should appear near 106 -07   
Support  is at  105-07. below that a test of 104-21 is likely to occur..

June 30 Year  T-Bond
Resistance should appear near 107-07 and  107-21.. Beyond that 108-07  should cap a rally.  
Support  is at  106-21 and 106-07, a close under is negative and augurs for a test of  105-21..
 

                                       The Frenzied Forex Front

June  Yen
Recommended Open Position Short  9127
Resistance should appear near 9044 to 9060
Support should appear near 8871 to 8856

June  Euro Currency (EC)
Recommended Open Position Short 5 at 12518 avg
Support should appear at  12740 to 12680
Resistance should appear near 12890…Beyond that 12965 should cap a rally.   

June Swiss Franc
Recommended Open Position Short 4 at 8355
Resistance should appear near 8352 and  the 8391 to 8406 region
Support  should  appear near 8314 to 8300,  a close under augurs for a test of the  8134 to 8119 region.   

June  British Pound
Support should appear near 18650 to 18580 .
Resistance should appear near 19020 to 19090 region.

June  Canadian Dollar
Resistance should appear near 9044 to 9060
Support is at 8871 to 8856

June Aussie Dollar
Support should appear near 7513 to 7486 and the 7428 to 7414 region ..
Resistance should appear near  7587 to 7601 and 7675 to 7689 .   

                                          Precious Metals

June  Gold
Resistance should appear at 665.9 to 667.3 .. Beyond that sellers should appear near 674.3 to 675.5 and cap a rally.  
Support is at  650.9 to 648.3 , a slip under is negative and augurs for a test of 635.0 to 633.70 ..

July Copper
Resistance  should appear near 379.5 to 380.6 and 385.8 to 386.7 and 390.90 to 392.90.
Support should appear near 332.80 to 331.90 and 310.20 to 309.20    

July Silver 
Resistance  should appear near the  1304.0 to 1310.0 and 1334.0  to 1346.0
Support  is at  1203.0 to 1192.0  region.. Below that buyers should step in near the  1136.0 to 1130.0 region.

                                 
                                       The Exciting Energies
July Crude Oil
Resistance should appear near 7140 to 7174 and 7242 to 7255
Support Should appear near 7003 to 6990 and 6919 to 6906. .

July Unleaded Gas
Resistance should appear near 20820 to 20890 beyond that sellers should appear near 21700 to 21850.
Support should appear near 19530 to 19460 below that buyers should appear near 18650 to 18580

July Heating Oil
Support should appear near 19090 to19020 and the 18220 to 18080 region.
Resistance should appear near 20342 to 20420 and 20800 to 20890

                                 The Lively Livestock

June Cattle
Recommended open position Short at 7412
Support should appear near the 7602 to 7587 and the  7342 to 7328 region.
Resistance is at   7762 to 7777 and the 7837 to 7867 region.

June  Hogs
Recommended Open Position short 2 at 6737 avg
Recommended Open Spread : Short 5 June at 6640 /  Long 5 August 6587
Support is at  6512 to 6482 and the 6432 to 6417 region 
Resistance should appear 6657 to 6672 and 6742 to 6757 

July Pork Bellies
Resistance should appear near 8192 to 8222 and 8302 to 8317 .  
Support  is at 8047 to 8027 and 7957 to 7937

Trade Accordingly..

                                           The Grande’ Grains

July Soybeans
Recommended Open Position Long at 581 3/4
Resistance at  the 594 1/2 to 595 3/4. A close over is friendly and augurs for a test of  610 1/4 to 611 1/4
Support should appear near  580 1/2 to 579 1/4.. Below that support should appear near 572 3/4 to 571 3/4.

July Soymeal
Resistance  should appear near  173.1 to 173.8  and 180.8 to 182.2.  
Support  should appear near 169.5 to 168.90 and the 165.5 to 164.2 region, which should contain a decline..  
BW Traders can buy at  169.7 and hold for higher prices..

BW Traders should go long if a close over  173.9 occurs..

July Soybean Oil
Recommended Open Position Long at  2  2507 avg
Resistance should appear near the 2612 to 2620  and 2663 to 2672  
Support should  appear near 2519 to 2511  and 2469 to 2461   

July corn
Resistance should appear near  255 ¾ to 256 ¾ and 261 ¼ to 262
Support is at  251 ¾ to 251 ½ and 246 ¾ to 246 ¼...BW  Traders can buy at 247 ¼ and hold for higher prices..  

July Wheat
Resistance should appear near  423 3/4 to 424 3/4 and 430 1/2 to 431 1/2 
Support should appear near 412 to 411 and 405 3/4 to 404 3/4  BW Traders can buy at 405 3/4  and hold for higher prices...

                                                         The Satisfying Softs

 July ‘ The Monster ' Coffee
Support  should appear near 10035 to 10020 .  
Resistance  should appear near 10320 to 10360

July Cocoa
Support is at  1496 to 1484 and 1421 to 1415 
Resistance should appear near 1529 to 1535 and 1569 to 1576.

July  Sugar
Resistance should appear near 1689 to 1696
Support  should appear near 1615 to 1609  

July Cotton
Support should appear near  the 4995 to 4970 and 4855 to 4845 region.
Resistance should appear near  5125 to 5140 and 5200 to 5210  

 -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

Tuesday  May 23  2006
5:55 PM  South Florida Beach Time

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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.