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The Bill Chippas Show
FuturesCom Investment Publications
Morning Comments Friday June 2nd 2006
Serving Professional and Individual Traders World Wide since 1979
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"Among the hazards of speculation the happening of the unexpected -I might even say the unexpectable - ranks high. There are certain chances that the most prudent man is justified in taking - chances that he must take if he wishes to be more than a mercantile mollusk--" Reminiscences of a Stock operator.
Thursday June 1st 2006
9:00 PM 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 10,960.00 region..
Resistance should appear near 11,300.00 to 11,320.00.
June SP500
Support is at 1274.00 to 1268.00
Resistance should appear near 1289.00 and the 1304.oo to 1310.00 region
NASDAQ Composite
Support should appear near 2185.00 to 2170.00.
Resistance remains near 2219.00 to 2226.00 and 2246.5
June Mini Nasdaq 100
Resistance should appear near 1628.50 and 1642.00 to 1655.00
Support should appear near 1615 to 1609 and 1591.5 ..
June Mini Russell 2000
Support is at 725.5 to 724.2 and 717.00 to 714.30
Resistance should appear near 741.40 to 742.80 and 748.5 to 751.30
Sept 10 Year T-Note
Resistance should appear near 105-07 and 105-21
Support is at 104-21 and 104-07
Sept 30 Year T-Bond
Resistance should appear near 106-21 and 107-07
Support is at 106-06 and 105-21
The Frenzied Forex Front
June Yen
Recommended open position short 2 at 8895
Resistance should appear near 8934 to 8964
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 12740 to 12680
Resistance should appear near 12890 and 12965
June Swiss Franc
Recommended Open Position Short 4 at 8355
Resistance should appear near 8211 to 8223 and 8261.
Support should appear near 8134 to 8119 and the 8044 to 8029 region
June British Pound
Support should appear near 18650 to 18580 and 1.8400
Resistance should appear near 18742 and 18835
June Canadian Dollar
Resistance should appear near 9100 and 9140 to 9156
Support is at 9060 to 9044.. a slip under augurs for a test of 8964 to 8934..
June Aussie Dollar
Resistance should appear near 7486 to 7513 and 7550.
Support should appear near 7428 to 7414.. failure there augurs for a test of 7342 to 7328..
Trade Accordingly
Precious Metals
August Gold
Resistance should appear at 633.7 to 635.0 and 641.7 to 643.0.
Support is at 627.0 to 625.7 .. below that a test of 619 to 616.4 is likely
July Copper
Resistance should appear near 366.30 to 368.20 and 373.40 to 374.30 .
Support should appear near 350.30 to 349.30 and 332.80 to 331.90.
July Silver
Resistance should appear near 1192.0 to 1203.0 and 1217.5
Support is at 1169.0 to 1164.0 and the 1136.0 to 1130.0
The Exciting Energies
July Crude Oil
Resistance should appear near 7088 and the 7143 to 7170 region. Beyond that 7242 to 7255 should cap a rally
Support Should appear near 7003 to 6990, failure there augurs for a test of the 6919 to 6906 region.
July Unleaded Gas
Resistance should appear near 21700 to 21850 and 22190 to 22260
Support should appear near 20420 to 20340 and 19530 to 19460
July Heating Oil
Support should appear near 19530 to 19460 and 18650 to18580 .
Resistance should appear near 19960 and 20340 to 20420
The Lively Livestock
August
Recommended open position Short at 8087
Support should appear near 8047 to 8027 and 7957 to 7937
Resistance is at 8117 to 8137 and 8192 to 8222
July Hogs
Recommended Open position Short 7 at 6497
Support is at 6837 to 6807 and 6672 to 6657
Resistance should appear 6907 to 6922 and 6992 to 7002
July Pork Bellies
Resistance should appear near 8392 to 8407 and 8482 to 8502
Support is at 8317 to 8302 and 8222 to 8192
Trade Accordingly..
The Grande’ Grains
July Soybeans
Resistance at the 588 and 594 1/2 to 595 3/4
Support should appear near 572 3/4 to 571 3/4 and the 565 1/4 to 564 region.
July Soymeal
Resistance should appear near 177.4 to 178.0.
Support should appear near 173.8 to 173.1.
July Soybean Oil
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
July Wheat
Resistance should appear near 398 1/4 to 399 1/4 and the 404 3/4 to 405 3/4 region
Support should appear near 392 3/4 to 390 3/4 and the 386 3/4 to 385 3/4 region.
The Satisfying Softs
July ‘ The Monster ' Coffee
Support should appear near 9835 to 9820 and 9735 to 9705
Resistance should appear near 10020 to 10035 and 10105 to 10135
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 1529 to 1535 and 1569 to 1576
Support should appear near 1496 to 1484 and 1421 to 1415
July Cotton
Support should appear near 5210 to 5200 and 5140 to 5125
Resistance should appear near 5255 to 5285 and 5345 to 5355
-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 June 1st 2006
10:25 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.