FuturesCom Bi-Weekly Investment Outlook # 432 October 06 2013 SP500 and Equity Indices • Bonds • Currency Trading • Forex • Precious Metals • Energy • Grains • Livestock • Coffee • Sugar • Cocoa • Cotton. Free Two Week Trial see https://futurescom.com/free-trial-2
We can easily forgive a child who is afraid of the dark;
the real tragedy of life is when men are afraid of the light. –Plato–
Saturday October 5, 2013, 11:00 PM South Florida Beach Time
Investors and traders will be looking for market direction from votes in the U.S. Congress over the debt ceiling and the U.S Gov’t shut down. During this period normal data flows and trading volumes are diminished. In the absence of normal U.S government economic and commodity data, reports such as the APD payroll data from the private sector and comments from corporations will take on an even more important role for financial markets and domestic agricultural markets. The USDA stopped issuing market reports on October 1st and blocked access to online historic data. With scant data available, livestock price data is coming from livestock that move through traditional auction markets. Therefore on Monday Tyson is planning to start pricing hogs off of Urner-Barry meat price sheets. While private boxed beef prices, livestock and poultry slaughter estimates are also available. The same process is occurring in the grain markets. The bottom line is the private sector has a way of making things work in a free market. Meanwhile as Washington DC continues its soap opera, ‘political babble’ should be thick, constant and will likely reach ‘screech levels’ over the next week or two. Traders should stay nimble and tune in for Day Trades, BW flashes and Updates for all markets. Analysis for overseas equity and foreign exchange markets into year-end are available, for more information please call the office or email a request. Onto the Nitty Gritty….
THE SENSATIONAL STOCK AND BOND MARKET
DOW JONES INDUSTRIAL AVERAGE
Support should appear near the 14,960.00 to 14,840.00 region. Below that a test of the 14,590.00 to 14,530.00 is likely and should contain declines.
Resistance should appear near 15,290.00 to 15,350.00. Beyond that sellers should appear near 15,690.00 to 15,760.00 and cap a rally.
DEC E-MINI SP500
Resistance should appear near 1689.00 to 1696.00 then 1713.50 and the 1731.00 to 1738.00 region.
Support should appear near the 1655.00 to 1642.00 region. Below that buyers should appear near 1615.00 to 1609.00. Traders who have ice water running thru their veins can buy at 1656.25 and risk a close under 1641.00 for three days in a row.
NASDAQ COMPOSITE
Resistance should appear near 3858.00 to 3867.00 and the 3909.00 to 3929.00 region
Support should appear near 3806.00 to 3795.00 and the 3743.00 to 3734.00 region.
DEC E-MINI NASDAQ 100
Support should appear near 3213.00 to 3194.00 the 3157.00 to 3148.00 region. Traders can buy at 3158.00 and risk a close under 3144.00 for three days in a row. Below that buyers should appear near 3102 to 3092.00 and contain a decline.
Resistance should appear near 3261.00 to 3270.00, a close over is friendly and augurs for a test of the 3319.0 to 3328.00 region.
DEC E-MINI RUSSELL 2000
Resistance should appear at 1082.00 and the 1096.00 to 1101.00 region. Beyond that sellers should appear near 1130.00 to 1136.00
Support should appear near 1068.00 to 1058.00 and 1047.00. Below that buyers should appear near the 1036.00 to 1032.00 then 1023.70 and 1013.60 to 1010.40. Stay tuned for Index Flashes.
DEC 30 YR BOND
Resistance should appear near 133-21 and 134-07 which should cap a rally. Beyond that sellers should appear near 134-21 and 135-07.
Support should appear near 132-21 and 132-07. Below that buyers should appear near 131-21 and 130-07. Under that 129-21 should hold.
DEC 10 YR NOTE
Resistance should appear near 127-07 then 127-21 and 128-07 where sellers should appear and cap a rally.
Support should appear near 125-21 and 125-07. Below that buyers should appear near 124-21 then 124-07 and 123-21 and should contain a decline.
THE FRENZIED FOREX FRONT
DEC DOLLAR INDEX
Resistance should appear near 8029 to 8044 and 8119 to 8134 a close over is friendly and augurs for a test of 8194 to 8223 where sellers should appear and cap a rally.
Support should appear near 7954 to 7939 and the 7864 to 7836 region.
DEC JAPANESE YEN
Resistance should appear near 10320 to 10360 and 10470.
Support should appear near 10237 and 10185. Below that a test of 10136 to 10104 is likely.
DEC EURO CURRENCY
Support should appear near 13460 to 13400 and 13340. Below that buyers should appear near the
13220 and contain a decline.
Resistance should appear near 13615 and the 13770 to 13830 region.
DEC SWISS FRANC
Resistance should appear near 11155, beyond that a test of 11300 to 11360 is likely to occur and should cap a rally.
Support should appear near 11010 to 10960, a close under is negative and augurs for a test of 10820 and the 10680 to 10580 region, which should hold.
DEC BRITISH POUND
Support should appear near 15925 and the 15760 to 15690 region.
Resistance should appear near 16090 to 16150 then16287 and the 16420 to 16550 region.
DEC CANADIAN DOLLAR
Resistance should appear near 9706 to 9737 and 9821 to 9845.
Support should appear near 9641 to 9625 and 9542 to 9526.
DEC AUSSIE DOLLAR
Support should appear near 9347 to 9316, below that a test of 9237 and the 9156 to 9140 region is likely to occur.
Resistance should appear near 9429 to 9445, beyond that a trade towards 9526 to 9542 is likely.
THE PRECIOUS METALS
DECEMBER GOLD
Resistance should appear near 1334.0 to 1346.0 and 1377.0 to 1383.0, a close over is friendly and augurs for a test of 1453.0 to 1459.0
Support is near 1304.0 then 1274.0 to 1268.0 and the 1238.0 to 1232.0 region.
DEC COPPER
Resistance should appear near 33770 to 33860. Beyond that sellers should appear near 34250 to 4430 which should cap a rally.
Support should appear near 32700 to 32610 and 32130 to 31940 region.
DECEMBER SILVER
Support should appear near 2089.0 to 2080.0 and the 1996.0 to 1982.0 region.
Resistance at the 2219.0 to 2226.0 then 2267.0 to 2274.0 and 2354.0 to 2370.0
THE EXCITING ENERGIES
NOV CRUDE OIL
Resistance should appear near 10580 to 10680 and 10960 to 11010.
Support should appear near 10360 to 10320 and 10136 to 10104.
DEC CRUDE OIL
Resistance should appear near 10320 to 10360 and 10470
Support should appear near 10242 then 10187 and 10037 to 10021
DEC HEATING OIL
Support should appear near should appear near 29370 to 29280 and 28830 to 28740.
Below that buyers should appear near 28290 to 28200 and contain a decline. Traders can buy at 283.10 and hold for higher prices.
Resistance should appear 30360 to 30450, beyond that a test of 30920 to 31020 is likely.
DEC UNLEADED GAS
Support should appear near 25680 to 25620 and the 25190 to 25110 region. Below that buyers should appear near 24690 to 24610 and contain a decline.
Resistance should appear near 26630 to 26720 and the 27580 to 27750 region. Beyond that sellers should appear near 28200 to 28290 and cap a rally.
DEC NATURAL GAS
Resistance should appear at 3795 to 3806 and the 3858 to 3867 region.
Support should appear near 3663 and the 3563 to 3553 region which should hold.
THE GRANDE’ GRAINS
JAN SOYBEANS
Support should appear near 1274 to 1268 and should provide support. Below that Buyers should appear near 1238.00 to 1232.00
Resistance should appear near 1334 to 1346 and 1377 to 1383. Beyond that sellers should appear near the 1415 to 1421 region and should provide resistance. Trade accordingly.
DEC SOYOIL
Resistance should appear near 4046 to 4056 and 4183 to 4163. Beyond that Sellers should appear near 4238 to 4249.
Support should appear near 3992 to 3982 and 3929 to 3909
DEC SOYMEAL
Resistance should appear near 430.4 to 431.5 and the 442.5 to 444.6 region. Beyond that sellers should appear near 457.1 to 458.2 and cap a rally.
Support should appear near 405.6 to 404.6 and the 399.2 to 398.2 region, below that buyers should appear near the 386.7 to 385.8 region and contain a decline.
DEC CORN
Support should appear near and 438 ¼ to 437 and the 418 ¼ to 416 ¼ region.
Resistance should appear near 463 ¾ to 465 and the 477 ¾ to 478 ¾ region, which should bring out sellers.
DEC WHEAT
Resistance should appear near 690 ¾ to 691 ¾ and the 699 to 700 ¼ region. Beyond that sellers should appear near 707 ½ to 708 ¾.
Support should appear near 675 ½ to 674 ¾ and the 667 ¼ to 665 ¾ region where buyers should appear and contain a decline.
THE LIVELY LIVESTOCK
DEC CATTLE
Support should appear near 13100 to 13040 and 12892.
Resistance should appear near 13340 to 13460 and 13530.
FEB CATTLE
Support should appear near 13340 then 13217 and 13100 to 13040
Resistance should appear near 13460, a close over is friendly and augurs for a test of 13530 and the 13770 to 13830 region.
OCT HOGS
Support should appear near 9157 to 9137 and the 8967 to 8932 region. Below that buyers should appear near 8872 to 8857.
Resistance should appear near 9312 to 9347 and should cap a rally. Beyond that sellers should appear near 9427 to 9442.
DEC HOGS
Support should appear near 8592 to 8562 and the 8507 to 8492 region. Below that buyers should appear near 8407 to 8392.
Resistance should appear near 8762 to 8777 and the 8857 to 8872 region. Beyond that a test of 8932 to 8967 is likely.
FEB HOGS
Support should appear near 8956 to 8932 and the 8872 to 8857 region. Below that buyers should appear near 8777 to 8762 and contain a decline.
Resistance should appear near 9042 to 9062 and the 9137 to 9157 region.
APRIL HOGS
Support should appear near 8956 to 8932 and the 8872 to 8857 region.
Resistance should appear near 9042 to 9062 and the 9137 to 9157 region.
JUNE HOGS
Support should appear near 9447 to 9427 and the 9347 to 9312 region. Below that buyers should appear near 9062 to 9042 and contain a decline.
Resistance should appear near the 9622 to 9642 region. Beyond that a test of the 9707 to 9737 region is likely.
THE SATISFYING SOFTS
DEC COFFEE
Support should appear near 11360 to 11300 and the 11010 to 10960 region.
BW Traders can buy at 11370 and risk 100 points.
Resistance should appear near 11640 to 11690. A close over is friendly and augurs for a test of the 11920 to 12030 region.
DECEMBER COCOA
Resistance should appear near 2663 to 2672 is likely. A close over is friendly and augurs for a test of 2716 to 2724.
Support should appear near the 2568 to 2552 and 2519 to 2511. Traders can buy at 2569 and hold for higher prices… Below that buyers should appear near 2469 to 2461. Stay tuned for Flashes
MARCH SUGAR
Resistance is near 1858 to 1865 and the 1902 to 1909 region.
Support should appear near 1822 to 1808 and 1780 to 1774 region. Traders can buy at 1781 and risk a close under 1773 for three days in a row.
DEC COTTON
Support should appear near 8683 to 8668 and 8589 to 8560. Below that 8499 to 8484 should contain a decline.
Resistance is at 9044 to 9060 and 9140 to 9156. Beyond that sellers should appear near 9316 to 9347 and cap a rally.
Stay tuned for Flashes and Updates in all Markets
–A Ship in Harbor is Safe…But that is not what ships are built for –
Happy Trading!
Bill wil@futurescom.com
Sunday October 6, 2013 10:30 AM South Florida Beach Time
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