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FuturesCom
Morning Investment Comments
Monday March 21, 2011 

Equity Indices • Treasuries • Forex • Precious Metals • Energy • Grains • Livestock • Softs

 

Sunday March 20, 2011
4:00 AM South Florida Beach Time 

                          The Sensational Stock and bond Markets
What the leaders doing:      
The Daily Short term RSI and Stochastic studies are oversold and suggest a rally. The larger picture suggests the rallies will abate against the topside resistance. Long term Averages on the monthlies are in fine shape and should maintain bullish bias while consolidation occurs and should aid in normal window dressing for this week.      Dow Transports a leader on the way up has broken the daily uptrend lines, after testing the backside of the weekly uptrend lines from 2002, is unchanged to lower on the year, and is below the 55 day mov-avg .Weekly Support is at 4855, November lows offer support at 4775.   Daily 5, 21 and 55 mov-avg have crossed.  Weekly 5 and 21 mov-avg have converged. Crossing would be a negative.  Topside sellers should appear near 5200 to 5210 while End of Quarter window dressing occurs. Unless 5210 is violated we have to assume the Transports have fulfilled near term objective and is on way to test the November lows.  
    Ditto for Nasdaq Composite another leader on the way up.  Nasdaq Composite has broken daily lines, tested backside of weekly lines from 2002 lows. Trend-lines offer best line of defense for Bulls this week again against November lows near 2511.  Resistance is 2758 to 2775.       SP500 and Dow Industrial Weekly Moving averages are in better shape. Daily 55, 21 are all above the 5 and crossed to downside, a very sloppy.  This has not occurred since May thru September consolidation last year.  Deep Support is at November lows / the 200 Day Mov avg.  

Dow Jones Industrial Average
 Support should appear near 11,360.00 to 11,320.00.
Resistance should appear near 11,640.00 to 11,690 and 11,815.00. 

jUNE e-Mini sp500
 Resistance should appear near 1289.00 and 1304.00 to 1310.00   
Support should appear at near 1274.00 to 1268.00 and 1238.00 to 1232.00   
 
NAsdaq Composite
Resistance should appear near 2663.00 to 2672.00      
Support should appear near 2568.009 to 2552.00                   

jUNE E-Mini NasdaQ 100
 Resistance should appear near 2267.00 to 2275.00
Support should appear near the 2185.00 to 2170.00    

JUNE  E-Mini RUSSELL 2000
 Resistance should appear near 793.90 to 795.40 and 802.90 to 804.40     
Support should appear near 768.90 to 767.50 and the 751.30 to 748.60 region.
    
JUNE 30 YR BOND
Resistance should appear near 122-07 and 122-21
Support should appear near 121-07 and 120-21

June 10 yr Note
 Support should appear near 119-21 and 119-07
Resistance is at 121-07 and 121-21                           

 

                               The Frenzied Forex Front
 June dOLLAR iNDEX
 Resistance should appear near 7675 to 7689       
Support should appear near 7513 to 7486  
 
June JAPANESE Yen
 Resistance should appear near  12680 to 12740 and 13040 to 13150
Support should appear near 12175 and 12030 to 11920
              
June EURO currency
 Support should appear near 13830 to 13770  
Resistance should appear near  14150 to 14210 region  
June SWISS FRANC
 Resistance should appear near the 11300 to 11360
Support should appear near  11010 to 10960

JUNE BRITISH POUND
Support should appear near 16150 to 16090     
Resistance should appear near 16420 to 16550
JUNE CanadIAN Dollar
 Resistance should appear near 10320 to 10360              
Support should appear near 10037 to 10021    
JUNE AUSSIE DOLLAR
 Resistance should appear near 9921 to 9937   
Support should appear near 9641 to 9625                                     

                                      The Precious Metals
 April gold
 Resistance should appear near 1453 to 1459
Support is near 1383 to 1377    

MAY COPPER
 Resistance should appear near 44250 to 44460
Support should appear near 41200 to 41100
MAY Silver 
 Support should appear near 3328 to 3319                    
Resistance is at 3553 to 3563              
                       
                                    The Exciting Energies  

May Crude Oil
Resistance should appear near 10580 to 10680
Support should appear near 10136 to 10104.

april HeaTING Oil
 Support should appear near 29900 to 29720
Resistance should appear near 30920 to 31020                    

april UNLEADED Gas
 Support should appear at 29380 to 29280 and 28830 to 28740
Resistance should appear near 30920 to 31020                    

april NATURAL Gas
Support should appear at 41200 to 41100   
Resistance should appear near 43700 to 43810                                                                

                                 THE GRANDE’ GRAINS
 MAY SOYBEANS
Resistance should appear 1377 to 1383        
Support should appear near 1310 to 1304

MAY SOYMEAL
Resistance should appear near 373.4 to 374.8        
Support should appear near 344.3 to 342.5        

MAY BEAN OIL
Resistance should appear near 5716 to 5729       
Support should appear near 5430 to 5418   
 
MAY CORN
Support should appear near 659 ½ to 657 ¾         
Resistance should appear 707 ¾ to 708 ¾                

MAY WHEAT
Resistance should appear near 776 ¾ to 777 ¾
Support should appear near 667 ¾ to 666 ¾  

                                           THE LIVELY LIVESTOCK

APRIL CATTLE
Support should appear near 11010 to 10960   
Resistance should appear near 11300 to 11360      

APRIL HOGS

Resistance should appear near 9137 to 9157    
Support should appear near 8592 to 8567

JUNE HOGS

Support should appear near 9737 to 9707
Resistance should appear near 10022 to 10037                                                                                                  

                            The Satisfying Softs
 MAY COFFEE
Support should appear near 25190 to 25110.
Resistance should appear near 28200 to 28290    

MAY COCOA
Resistance should appear near 3261 to 3270      
Support should appear near 3045 to 3036  

 

MAY SUGAR
Resistance is at 2820 to 2829
Support should appear near 2620 to 2612  

 
MAY COTTON
Resistance should appear near 20340 to 20420    

Support should appear near 19530 to 19090

            --A Ship in Harbor is Safe...But that is not what ships are built for --
Happy Trading!   
Bill wil@futurescom.com  

Sunday March 20, 2011   7:00 AM South Florida Beach Time