wmeubank@ocp.kcmo.com
THE WINDY CITY WORKSHEET
DECEMBER CORN: Trend neutral-up. Support 2.48½. Resistance 2.74. Good long-term prospects.
NOVEMBER SOYBEANS: Trend neutral. Support 5.86. Resistance 6.26. Possible big crop. Corn and wheat look better.
DECEMBER SOYMEAL: Trend neutral. Support 192.00. Resistance 207.50. Following beans right now.
DECEMBER SOYBEAN OIL: Trend neutral. Support 21.70. Resistance 23.25. Nearly a buy. Could be bottoming.
DECEMBER WHEAT: Trend neutral-up. Support 3.55. Resistance 3.88. Looks good technically and fundamentally. Calls perhaps.
DECEMBER OATS: Trend neutral-up. Support 1.56. Resistance 1.70½. Back to following the other grains.
OCTOBER LIVE CATTLE: Trend neutral-down. Support 66.22. Resistance 70.50. Fundamentals bearish. Needs huge demand to rally.
SEPTEMBER FEEDER CATTLE: Trend neutral. Support 78.22. Resistance 81.30. Corn up–feeders down! Corn down–feeders up!
OCTOBER LIVE HOGS: Trend down. Support 67.45. Resistance 73.92. Very oversold technically. Could rebound back to 7300.
FEBRUARY PORK BELLIES: Trend down. Support 68.20. Resistance 76.17. Also oversold. Should hold 70.00 as a low.
SEPTEMBER BRITISH POUND: Trend neutral-down. Support 156.50. Resistance 164.20. Probably range bound for the next few months.
SEPTEMBER SWISS FRANC: Trend neutral. Support 65.00. Resistance 67.15. Needs help to rally past resistance.
SEPTEMBER JAPANESE YEN: Trend neutral-down. Support 84.06. Resistance 87.13. Looks very weak.
SEPTEMBER D-MARK: Trend neutral. Support 53.03. Resistance 55.20. Should test lows during the next few weeks.
SEPTEMBER CANADIAN DOLLAR: Trend down. Support 71.78. Resistance 72.84. Something's wrong here. Wait for strength.
SEPTEMBER U.S. DOLLAR: Trend up. Support 97.30. Resistance 101.70. Took a shot but came back strong.
SEPTEMBER EURODOLLARS: Trend up. Support 94.20. Resistance 94.32. Not enough volatility to bother with.
SEPTEMBER U.S. T-BONDS: Trend neutral-up. Support 112.00. Resistance 116.31. Stuck in the middle. Bias is higher.
SEPTEMBER NYFE: Trend neutral. Support 460.00. Resistance 493.50. Correction not over yet.
SEPTEMBER S&P: Trend neutral. Support 880.00. Resistance 947.50. We might not bounce back quite as quickly this time.
DECEMBER GOLD: Trend neutral. Support 320.00. Resistance 334.00. Good hedge for weak stocks.
SEPTEMBER SILVER: Trend neutral. Support 418.00. Resistance 457.00. Wants to rally. Could see $4.90-$5.00 soon.
SEPTEMBER COPPER: Trend down. Support 90.00. Resistance 103.20. Following the stock market for now.
SEPTEMBER PALLADIUM: Trend neutral. Support 185.55. Resistance 227.60. Battles O.J. for worst market on the board.
OCTOBER PLATINUM: Trend neutral. Support 400.00. Resistance 446.00. Could see $390 before support.
SEPTEMBER LUMBER: Trend neutral-down. Support 332.00. Resistance 366.00. Needs housing starts to accelerate before rallying.
OCTOBER HEATING OIL: Trend neutral-up. Support 53.00. Resistance 57.65. Bends but can't break. December looks good 5500- 5600.
OCTOBER UNLEADED GAS: Trend up. Support 55.20. Resistance 61.70. Due for a further correction. Watch heating oil now.
OCTOBER NATURAL GAS: Trend up. Support 234.00. Resistance 260.00. Breaking out. Volatile. Heating oil better liquidity.
OCTOBER CRUDE OIL: Trend neutral-up. Support 19.20. Resistance 21.00. Doesn't want to break. Hold off for a short while.
DECEMBER COCOA: Trend neutral. Support 14.90. Resistance 15.95. Long-term fundamentals promising.
OCTOBER SUGAR: Trend up. Support 11.32. Resistance 12.00. Needs to close above 1200 for further gains.
DECEMBER COTTON: Trend neutral. Support 73.20. Resistance 76.00. Testing support. Might see 7150-7200 if broken.
NOVEMBER ORANGE JUICE: Trend down. Support 65.00. Resistance 71.10. Way overdone on down side. Should hold support.
DECEMBER COFFEE: Trend neutral. Support 150.00. Resistance 180.00. Should stick between support and resistance for now.
August 19, 1997 Stephen Connell and William Frejlich
The Windy City Trader
P.O. Box 1673, Chicago, Illinois
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Last updated on 08-22-97
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