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The Bill Chippas Show
FuturesCom Investment Publications
Morning Comments Tuesday May 30th 2006
Serving Professional and Individual Traders World Wide since 1979
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
Courage in a Speculator is merely confidence to act on the decision of his mind
Sunday May 28th 2006
6:00 AM South Florida Beach Time
The Sensational Stock and Bond Markets
Dow Jones Industrial Average
Support at 11,155.00 and the 11,010.00 to 10960.00 region..
Resistance should appear near 11300.00 to 11320.00 and should cap a rally for now..
June SP500
Support at 1274.00 to 1268.00 and the 1238.00 to 1232.00 region. BW Traders can buy at 1238.30 for a good bounce
Resistance should appear near 1289.00 and 1304.00 to 1310.00
NASDAQ Composite
Support should appear near 2185 to 2175 .
Resistance remains near 2219 to 2226
Trade Accordingly
June Mini Nasdaq 100
Resistance should appear near 1609 to 1615 and 1642 to 1655 .
Support should appear near the 1576 to 1569 and the 1535 to 1529 region..
BW Traders can buy at 1537.00 and hold for higher prices..
June Mini Russell 2000
Support is at 725.50 and the 717.00 to 714.30 region .. below that buyers should appear near 700.30 to 699.0.
Resistance should appear near 732.8 to 734.2 and the 741.40 to 742.80 region.
June 10 Year T-Note
Resistance should appear near 105-21 and 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
Support is at 106-21.and 106-07
The Frenzied Forex Front
June Yen
Recommended open position short 2 at 8898
Resistance should appear near 8934 to 8964 and 9044 to 9060
Support should appear near 8871 to 8856, an extended trade under augurs for a test of 8777 to 8762 region
June Euro Currency (EC)
Recommended Open Position Short 5 at 12518 avg
Support should appear at 12680 and 12532
Resistance should appear near 12777 then 12815 and 12890
June Swiss Franc
Recommended Open Position Short 4 at 8355
Resistance should appear near 8194 to 8223 and 8261
Support should appear near 8134 to 8119 and the 8044 to 8029 region.
June British Pound
Support should appear near 18220 to 18080
Resistance should appear near 18580 to 18650
June Canadian Dollar
Resistance should appear near 9044 to 9060 and 9150 to 9156
Support is at 8964 to 8934 and 8871 to 8856
June Aussie Dollar
Support should appear near 7513 to 7486 ..
Resistance should appear near 7587 to 7601
Precious Metals
August Gold
Resistance should appear at 665.9 to 667.3.
Support is at 643.0 to 641.7 and 635.0 to 633.70
July Copper
Resistance should appear near 385.8 to 386.7 and 390.90 to 392.90.
Support should appear near 362.30 to 561.30 and 332.80 to 331.90.
July Silver
Resistance should appear near 1289.0 and 1304.0 to 1310.0
Support is at 1268.0 then 1250.0 and the 1238.0 to 1232.0 region.
The Exciting Energies
July Crude Oil
Resistance should appear near 7143 to 7170 and 7328 to 7342
Support Should appear near 7088 to 7074 and 7003 to 6990 .
July Unleaded Gas
Resistance should appear near 21260 to 21340 and 217.00 to 218.50
Support should appear near 20420 to 20340 and 19530 to 19460
July Heating Oil
Support should appear near 19820 and 19090 to19020 .
Resistance should appear near 20340 to 20420 and 20800 to 20890
The Lively Livestock
August
Support should appear near the 7867 to 7837 and 7777 to 7762
Resistance is at 8027 to 8047 and 8117 to 8137
June Cattle
Recommended open position Short at 7412
July Hogs
Recommended Open position Short 2 at 6542
Recommended open Spread Short 5 July 6475 / Long 5 August 6587
Support is at 6512 to 6482 and 6352 to 6337
Resistance should appear 6577 to 6592 and 6657 to 6672
July Pork Bellies
Resistance should appear near 8192 to 8222 and 8302 to 8317
Support is at 8047 to 8027 and 7959 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 177.4 to 178.0 and 180.8 to 182.2.
Support should appear near 173.1 and 169.5 to 168.90.
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 at 2507 avg
Resistance should appear near the 2558 to 2568
Support should appear near 2469 to 2461
July corn
Resistance should appear near 255 3/4 to 256 3/4 261 1/4 to 262
Support is at 251 3/4 to 251 1/4 and 246 3/4 to 246 1/4
BW Traders can buy at 247 1/4 and hold for higher prices..
July Wheat
Recommended open position long at 405 3/4
Resistance should appear near 416 1/4 to 418 1/4 and 423 3/4 to 424 3/4
Support should appear near 405 3/4 to 404 3/4 and 399 1/4 to 398 1/4
The Satisfying Softs
July ‘ The Monster ' Coffee
Support should appear near 9735 to 9705 and 9545 to 9525 .
Resistance should appear near 9925 to 9945 and 10020 to 10035
July Cocoa
Support is at 1459 to 1453 and 1421 to 1415
Resistance should appear near 1484 to 1496 and 1529 to 1535.
July Sugar
Resistance should appear near 1609 to 1615 and 1642 to 1655
Support should appear near 1576 to 1569 and 1535 to 1529
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
Sunday May 28th 2006
7:45 AM 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.