The Pattern Trapper for Tuesday, December 17, 2002

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Pattern Signal Firings Page
Highest Potential Setups for Tuesday, December 17, 2002
(Selected from market categories OTHER than the Indices or Interest Rates)

Live Cattle The February Live Cattle contract has fired 90-10 High Continuation, Low Breakout Continuation Setup, and Momentum Pinball Sell signals for today's trading. The 90-10 High Continuation signal implies that yesterday's late day move higher is likely to continue on into today. The Low Breakout Continuation Setup signal implies significant downside IF yesterday's low happens to be taken out. The Momentum Pinball Sell signal suggests that IF the first hour's low happens to be broken, the market is telling us something completely different than originally assessed, and we'd want to consider a short position. Cycle Indicators (chart at right) appear as if a short term cyclical bottom has just been marked. Odds favor continued upside in today's early trading. Buy the break of yesterday's 79.200 high with a stop just below the 78.600 level of the Daily Pivot. Price strength above the DP may provide clues for earlier entry.
Soybeans Yesterday's Highest Potential Setup in Soybeans resulted in a sharp and profitable move to lower prices. Pattern Signals fired for today's trading imply even further downside to follow. The January Soybeans contract has fired 90-10 Low Continuation & Reversal and Momentum Pinball Buy signals for today's trading. The 90-10 Low Continuation & Reversal signal tells us to look for morning follow through on the weak close, but to expect a likely reversal once the initial move has bottomed. The Momentum Pinball Buy signal suggests that IF the first hour's high happens to be broken, the market is telling us something completely different than originally assessed, and we'd want to consider a long position. Cycle Indicators (chart at right) appear as if a short term cyclical top has recently been marked. Odds favor continued downside in today's early trading. Sell the break of yesterday's 561^0 low, or even earlier if price demonstrates weakness below the 565^1 level of the Daily Pivot. But stand prepared to exit or even reverse if we get appropriate price reversal patterns and/or Oscillator Divergence near important support levels. Our Normal Low Range Projection level of 555^2 or the Extended Low Range Projection level of 551^0 would be likely areas for such a reversal to take place.

Pattern Signals, Pivot Levels, and
Range Projections for Tuesday, December 17, 2002

The Pattern Signal links below are available to paid subscribers only. Each link provides a detailed discussion of the Signals triggered, the setup parameters required for them to fire, and a few techniques to best take advantage of the market information that they offer. Click here for a sample of what is available.

INDICES

Pattern Signals

Pivot System S&R

Range Projections
Normal/Extended

S&P; 500	Mar SPH3	2 Day ROC Buy 90-10 High Cont. & Rev Momentum Pinball Sell	R2 924.13 R1 916.77 DP 903.63 S1 896.27 S2 883.13	Hi 919.65 927.48 Low 899.15 891.32
Dow Jones	Mar DJH3	2 Day ROC Buy 90-10 High Cont. & Rev Momentum Pinball Sell	R2 8749 R1 8683 DP 8559 S1 8493 S2 8369	Hi 8712 8785 Low 8522 8449
Nasdaq 100	Mar NDH3	2 Day ROC Buy 90-10 High Continuation	R2 1069.83 R1 1056.67 DP 1033.83 S1 1020.67 S2 997.83	Hi 1061.50 1075.25 Low 1025.50 1011.75
Russell 2000	Mar RLH3	2 Day ROC Buy 90-10 High Continuation	R2 399.00 R1 397.00 DP 393.00 S1 391.00 S2 387.00	Hi 398.00 400.29 Low 392.00 389.71

INTEREST RATES

Pattern Signals

Pivot System S&R

Range: Normal/Ext.

US T-Bond	Mar USH3	Low Range Close Momentum Pinball Buy	R2 110´23 R1 109´30 DP 109´14 S1 108´21 S2 108´05	Hi 109´25 110´08 Low 108´16 108´00
US 10 Yr. T-Note	Mar TYH3	NR4 Signal 90-10 Low Continuation Momentum Pinball Buy	R2 113´00 R1 112´19 DP 112´12 S1 112´00 S2 111´25	Hi 112´16 112´24 Low 111´29 111´21

CURRENCIES

Pattern Signals

Pivot System S&R

Range: Normal/Ext.

British Pound	Mar BPH3	2 Day ROC Sell Low Breakout Cont. Setup	R2 1.5876 R1 1.5848 DP 1.5812 S1 1.5784 S2 1.5748	Hi 1.5852 1.5876 Low 1.5788 1.5764
Canadian Dollar	Mar CDH3	NR7 Signal 90-10 High Continuation	R2 0.6392 R1 0.6387 DP 0.6378 S1 0.6373 S2 0.6364	Hi 0.6389 0.6394 Low 0.6375 0.6370
EuroFX	Mar ECH3	NR4 with an Inside Day 2 Day ROC Sell	R2 1.022 R1 1.020 DP 1.018 S1 1.016 S2 1.014	Hi 1.020 1.022 Low 1.016 1.014
Japanese Yen	Mar JYH3	Inside Day 2 Day ROC Sell	R2 0.8322 R1 0.8299 DP 0.8282 S1 0.8259 S2 0.8242	Hi 0.8297 0.8312 Low 0.8257 0.8242
Swiss Franc	Mar SFH3	Inside Day 2 Day ROC Sell	R2 0.6971 R1 0.6957 DP 0.6940 S1 0.6926 S2 0.6909	Hi 0.6960 0.6971 Low 0.6929 0.6917

LIVESTOCK

Pattern Signals

Pivot System S&R

Range: Normal/Ext.

Feeder Cattle	Jan FCF3	No Pattern Signals fired	R2 84.292 R1 83.933 DP 83.367 S1 83.008 S2 82.442	Hi 84.037 84.391 Low 83.113 82.759
Live Cattle	Feb LCG3	90-10 High Continuation Low Breakout Cont. Setup Momentum Pinball Sell	R2 80.325 R1 79.725 DP 78.600 S1 78.000 S2 76.875	Hi 79.988 80.646 Low 78.262 77.604
Lean Hogs	Feb LHG3	NR7 Signal 2 Day ROC Buy High Breakout Cont. Setup	R2 52.542 R1 52.183 DP 51.692 S1 51.333 S2 50.842	Hi 52.250 52.575 Low 51.400 51.075

GRAINS

Pattern Signals

Pivot System S&R

Range: Normal/Ext.

Corn	Mar CH3	Low Range Close	R2 243.08 R1 240.92 DP 239.58 S1 237.42 S2 236.08	Hi 240.50 241.84 Low 237.00 235.66
Wheat	Mar WH3	2 Day ROC Buy	R2 365.00 R1 360.00 DP 355.00 S1 350.00 S2 345.00	Hi 360.00 363.82 Low 350.00 346.18
Soybeans	Jan SF3	90-10 Low Cont. & Rev Momentum Pinball Buy	R2 577.17 R1 569.33 DP 565.17 S1 557.33 S2 553.17	Hi 567.50 572.08 Low 555.50 550.92
Soybean Meal	Jan SMF3	90-10 Low Continuation Momentum Pinball Buy	R2 167.17 R1 165.63 DP 164.77 S1 163.23 S2 162.37	Hi 165.30 166.22 Low 162.90 161.98
Soybean Oil	Jan BOF3	No Pattern Signals fired	R2 21.98 R1 21.82 DP 21.71 S1 21.55 S2 21.44	Hi 21.80 21.90 Low 21.53 21.42

ENERGY

Pattern Signals

Pivot System S&R

Range: Normal/Ext.

Crude Oil	Feb CLG3	90-10 High Continuation Momentum Pinball Sell	R2 30.83 R1 30.43 DP 29.71 S1 29.31 S2 28.59	Hi 30.60 31.03 Low 29.48 29.05
Heating Oil	Jan HOF3	90-10 High Continuation Momentum Pinball Sell	R2 0.8785 R1 0.8674 DP 0.8470 S1 0.8359 S2 0.8155	Hi 0.8722 0.8842 Low 0.8407 0.8286
Natural Gas	Jan NGF3	Inside Day 2 Day ROC Sell	R2 5.580 R1 5.461 DP 5.315 S1 5.196 S2 5.050	Hi 5.474 5.575 Low 5.209 5.107

METALS

Pattern Signals

Pivot System S&R

Range: Normal/Ext.

Gold	Feb GCG3	2 Day ROC Sell 90-10 High Continuation Low Breakout Cont. Setup	R2 341.1 R1 339.4 DP 336.2 S1 334.5 S2 331.3	Hi 340.0 341.9 Low 335.1 333.3
Silver	Mar SIH3	High Breakout Cont. Setup	R2 477.2 R1 474.0 DP 469.7 S1 466.5 S2 462.2	Hi 474.5 477.3 Low 467.0 464.1
Copper	Mar HGH3	NR7 Signal 2 Day ROC Buy	R2 73.40 R1 73.20 DP 72.90 S1 72.70 S2 72.40	Hi 73.25 73.44 Low 72.75 72.56

FOODS & FIBER

Pattern Signals

Pivot System S&R

Range: Normal/Ext.

Orange Juice	Jan JOF3	2 Day ROC Buy	R2 100.82 R1 100.43 DP 100.02 S1 99.63 S2 99.22	Hi 100.45 100.76 Low 99.65 99.34
Sugar	Mar SBH3	NR7 Signal 2 Day ROC Sell	R2 7.63 R1 7.56 DP 7.51 S1 7.44 S2 7.39	Hi 7.56 7.61 Low 7.44 7.39
Cocoa	Mar CCH3	2 Day ROC Sell High Breakout Cont. Setup	R2 2075 R1 2059 DP 2040 S1 2024 S2 2005	Hi 2062 2075 Low 2027 2013
Coffee	Mar KCH3	NR4 with an Inside Day Momentum Pinball Sell	R2 62.22 R1 61.73 DP 61.12 S1 60.63 S2 60.02	Hi 61.80 62.22 Low 60.70 60.28
Cotton	Mar CTH3	NR7 with an Inside Day Low Range Close	R2 50.17 R1 49.88 DP 49.72 S1 49.43 S2 49.27	Hi 49.83 50.00 Low 49.38 49.20

Statement of disclaimer: This information was compiled from sources believed to be reliable, but its accuracy cannot be guaranteed. There is substantial risk of loss in futures trading. There is no warranty, express or implied, in regards to the fitness of this information for any particular purpose. Past performance is not a guarantee of future results.

Terms and conditions: Use of The Pattern Trapper Newsletter is granted to the subscriber of record only. Any abuse of subscriber privileges will result in denied access without a refund. All materials are copyright © 2002 by Bob Hunt. No part of these resources may be reproduced, stored or transmitted without the prior written permission of the copyright holder.

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