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The Bill Chippas Show
FuturesCom Investment Publications
Morning Comments Monday July 24th 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
Sunday July 23rd 2006
5:00 AM South Florida Beach Time
"Observation. experience, memory and mathematics--These are what a successful trader must depend on. He Must not only observe accurately but remember at all times what he has observed. He cannot bet on the unreasonable or on the unexpected, however strong his personal convictions maybe about man's unreasonableness or however certain he may feel that the unexpected happens very frequently. He must bet always on probabilities--that is try to anticipate them. Years of practice at the game, of constant study, of always remembering, enables the trader to act when the unexpected happens as well as when the expected comes to pass. A man can have great mathematical ability and unusual power of accurate observation and yet fail in speculation unless he also possesses the experience and memory "--Reminiscences of a Stock operator- 1929
The Sensational Stock and Bond Markets
Dow Jones Industrial Average
Support is at 10,680.00 to 10,580.00
Resistance should appear near 10,960.00 to11,010.00
Sept SP500
Support is at the 1238.00 to 1232.00 ,, Below that buyers should appear near 1203.00 to 1192.00
BW Traders can buy at 1203.10 for a bounce and risk a close under 1190.10 for three days in a row. .
Resistance should appear near 1268.00 to 1274.00 , beyond that 1289.00 should cap a rally.
NASDAQ Composite
Support should appear near 1996.00 to 1982.00
Resistance should appear near 2034.00 to 2042.00
Sept Mini Nasdaq 100
Resistance should appear near the 1484.00 to 1496.00.
Support should appear near 1459.00 to 1453.00 and the 1421 to 1415 region.
Sept Mini Russell 2000
Support is at 667.30 to 665.90.. below that buyers should appear near 659.10 to 657.70 ad the 650.9 to 648.30 region
Resistance should appear near 680.90 to 683.60 and 690.90 to 691.90.. Beyond that 699.00 to 700.30 should cap a rally..
Sept 10 Year T-Note
Resistance should appear near 105-21 and 106-07
Support is at 105-07 and 104-21
Sept 30 Year T-Bond
Resistance should appear near 108-07 and 108-21
Support is at 107-07 and 106-21
Trade accordingly
The Frenzied Forex Front
Sept Yen
Resistance should appear near 8762 to 8777.. BW Traders can sell at 8761 for a turn lower
Support should appear near 8589 to 8560 and the 8499 to 8484 region.
Sept Euro Currency (EC)
Support should appear at 12715 to 12680.
Resistance should appear near 12815 and 12890. BW Traders can sell at 12815 for a turn lower and hold for lower prices.
Sept Swiss Franc
Resistance should appear near 8194 to 8223 and 8300 to 8314.
BW Trader can sell at 8261 for a turn lower and hold for lower prices.
Support should appear near 8134 to 8119 , a close under augurs for a test of 8044 to 8029
Sept British Pound
Recommended open position Short at 18612
Support should appear near 18580 and 18220 to 18080
Resistance should appear near 18650.and 18835
Sept Canadian Dollar
Resistance should appear near 8856 to 8871
Support is at 8777 to 8762
Sept Aussie Dollar
Support should appear near 7513 to 7486
Resistance should appear near 7587 to 7601
Precious Metals
August Gold
Resistance should appear at 625.7 to 627.0 and 633.7 to 635.0
Support is at 619 to 616.5 and 603.5 to 602.3
Sept Copper
Resistance should appear near 34250 to 34430 and 36130 to 36230
Support should appear near 32130 to 31940 and 304.5 to 303.6
Sept Silver
Resistance should appear near 1096.0 to 1101.0 and 1130.0 to 1138.0
Support is at 1068.00 to 1058.0 and 1036.0 to 1032.0
The Exciting Energies
Sept Crude Oil
Resistance should appear near 7486 to 7513 and 7587 to 7601
Support should appear near 7342 to 7328 and 7255 to 7242
Sept Unleaded gas
Resistance should appear near 23150 to 23220 and 23540 to 23700
Support should appear near 22260 to 22190 and 21850 to 21700
Sept Heating Oil
Support should appear near 19960 to 19820 and 19530 to 19460
Resistance should appear near 20800 to 20890 and 21260 to 21340
The Lively Livestock
Oct Cattle
Support should appear near the 8682 to 8667 and 8592 to 8562
Resistance is at 8857 to 8872 and 8932 to 8967
August Hogs
Support is at 6672 to 6657 and 6592 to 6577
Resistance should appear 6807 to 6837 and 6907 to 6922.
Oct Hogs
Resistance is at 6022 to 6037 and 6102 to 6117 .. Beyond that sellers should appear near 6257 to 6272
BW Traders can sell at 6247 and hold for lower prices.
Support should appear near 5957 to 5942 and the 5882 to 5852 region .
August Pork Bellies
Resistance should appear near 9317 top 9347 and 9427 to 9447
Support is at 9157 to 9142. and 9062 to 9042
The Grande’ Grains
Nov Soybeans
Resistance at 602 1/4 to 603 1/2 and 616 1/2 to 619
Support should appear near 595 3/4 to 5941/2 and 588 to 585 1/2
Dec Soymeal
Resistance should appear near 173.1 to 173.8
Support should appear near 169.6 to 168.9
Dec Bean Oil
Resistance should appear near 2758 to 2775 and 2820 to 2829
Support should appear near 2672 to 2663 and 2620 to 2612
Dec Corn
Resistance should appear near 25 3/4 to 258, 3/4 and 261 1/4 to 262
Support is at 251 3/4 to 251 1/4 and 246 3/4 to 246 1/4
Dec Wheat
Resistance should appear near 430 1/2 to 431 1/2 and 437 to 438 1/4
Support should appear near 418 1/2 to 416 1/4 and 412 to 411
The Satisfying Softs
Sept ‘The Monster ' Coffee
Support should appear near 9545 to 9525 and the 9345 to 9315 region..
Resistance should appear near 9705 to 9735 and 9920 to 9935
Sept Cocoa
Support is at 1496 to 1484 and 1459 to 1453
Resistance should appear near 1529 to 1535 and 1569 to 1576 .
Oct Sugar
Resistance should appear near 1569 to 1576 and 1609 to 1615 .
Support should appear near 1535 to 1529 and 1496 to 1484
Dec Cotton
Support should appear near 5355 to 5345 and 5285 to 5255
Resistance should appear near 5555 to 5580 and 5640 to 5655
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 July 23rd, 2006
6:30 AM South Florida Beach Time
FuturesCom Investment Publications © copyright 1996 – 2006 all rights reserved Terms
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.
BW Recommended Open Positions 7-23-2006
Short Sept British Pounds at 18612