The Pattern Trapper for Friday, February 2, 2001

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Highest Potential Setups
for Friday, February 2, 2001

Live Cattle Yesterday's Highest Potential Setup in Live Cattle resulted in a sharp move to higher prices. Pattern Signals fired for today's trading imply even more upside to follow. The April Live Cattle contract has fired 90-10 High Continuation & Reversal and Momentum Pinball Sell signals for today's trading. The 90-10 High Continuation & Reversal signal tells us to look for morning follow through on the strong close, but to expect a likely reversal once the initial move has topped. 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. Odds favor continued upside in today's early trading. Buy the break of yesterday's 78.325 high, or even earlier if price demonstrates strength above the 77.875 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 resistance levels. Our Normal High Range Projection level of 78.950 or the Extended High Range Projection level of 79.450 would be likely areas for such a reversal to take place.
Crude Oil March Crude Oil has fired 90-10 High Continuation and Momentum Pinball Sell signals for today's trading. The 90-10 High Continuation signal is fired when the day's trading closes within the top 10% of the day's range. It tells us that yesterday's late day move higher is likely to continue on into today. 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 left) appear as if a short term cyclical low has been recently defined. An impending break of the developing triangle formation could set a rapid price move in motion. Odds favor continued upside in today's early trading. Buy the break of yesterday's 29.85 high with a stop just below the 29.40 level of the Daily Pivot. Price strength above the DP may provide clues for earlier entry.

Pattern Signals, Pivot Levels, and
Range Projections for Friday, February 2, 2001

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INDICES

Pattern Signals

Pivot System S&R

Range Projections
Normal/Extended

S&P; 500	Mar SPH1	90-10 High Continuation	R2 1394.50 R1 1388.50 DP 1377.50 S1 1371.50 S2 1360.50	Hi 1391.00 1397.49 Low 1374.00 1367.51
Dow Jones	Mar DJH1	90-10 High Cont. & Rev	R2 11178 R1 11112 DP 10993 S1 10927 S2 10808	Hi 11138 11208 Low 10953 10882
Nasdaq 100	Mar NDH1	2 Day ROC Buy	R2 2693.17 R1 2660.33 DP 2614.17 S1 2581.33 S2 2535.17	Hi 2667.00 2697.18 Low 2588.00 2557.82
Russell 2000	Mar RLH1	90-10 High Continuation	R2 516.58 R1 514.42 DP 510.33 S1 508.17 S2 504.08	Hi 515.38 517.76 Low 509.13 506.74

INTEREST RATES

Pattern Signals

Pivot System S&R

Range: Normal/Ext.

US T-Bond	Mar USH1	No Pattern Signals fired	R2 105´29 R1 105´17 DP 105´01 S1 104´21 S2 104´05	Hi 105´18 105´29 Low 104´22 104´11
US 10 Yr. T-Note	Mar TYH1	Momentum Pinball Sell	R2 106.1880 R1 105.9690 DP 105.7500 S1 105.5310 S2 105.3130	Hi 105.9690 106.1360 Low 105.5310 105.3640

CURRENCIES

Pattern Signals

Pivot System S&R

Range: Normal/Ext.

British Pound	Mar BPH1	Momentum Pinball Sell	R2 1.4862 R1 1.4824 DP 1.4790 S1 1.4752 S2 1.4718	Hi 1.4822 1.4850 Low 1.4750 1.4723
Canadian Dollar	Mar CDH1	No Pattern Signals fired	R2 0.6722 R1 0.6708 DP 0.6694 S1 0.6680 S2 0.6666	Hi 0.6709 0.6720 Low 0.6681 0.6670
EuroFX	Mar ECH1	No Pattern Signals fired	R2 0.9487 R1 0.9457 DP 0.9423 S1 0.9393 S2 0.9359	Hi 0.9460 0.9484 Low 0.9396 0.9372
Japanese Yen	Mar JYH1	NR7 Signal	R2 0.8748 R1 0.8724 DP 0.8707 S1 0.8683 S2 0.8666	Hi 0.8721 0.8736 Low 0.8680 0.8664
Swiss Franc	Mar SFH1	No Pattern Signals fired	R2 0.6194 R1 0.6174 DP 0.6155 S1 0.6135 S2 0.6116	Hi 0.6174 0.6188 Low 0.6134 0.6120

LIVESTOCK

Pattern Signals

Pivot System S&R

Range: Normal/Ext.

Feeder Cattle	Mar FCH1	90-10 High Cont. & Rev Momentum Pinball Sell	R2 87.333 R1 86.867 DP 86.008 S1 85.542 S2 84.683	Hi 87.063 87.569 Low 85.738 85.231
Live Cattle	Apr LCJ1	90-10 High Cont. & Rev Momentum Pinball Sell	R2 79.192 R1 78.733 DP 77.867 S1 77.408 S2 76.542	Hi 78.938 79.444 Low 77.613 77.106
Lean Hogs	Apr LHJ1	Momentum Pinball Sell	R2 59.833 R1 59.367 DP 58.583 S1 58.117 S2 57.333	Hi 59.525 60.003 Low 58.275 57.798

GRAINS

Pattern Signals

Pivot System S&R

Range: Normal/Ext.

Corn	Mar CH1	Low Breakout Cont. Setup Momentum Pinball Sell	R2 214.00 R1 212.50 DP 210.75 S1 209.25 S2 207.50	Hi 212.63 213.87 Low 209.38 208.13
Wheat	Mar WH1	NR4 with an Inside Day 2 Day ROC Sell 90-10 Low Continuation	R2 274.08 R1 272.17 DP 271.08 S1 269.17 S2 268.08	Hi 271.75 272.90 Low 268.75 267.60
Soybeans	Mar SH1	2 Day ROC Buy	R2 467.50 R1 465.00 DP 461.50 S1 459.00 S2 455.50	Hi 465.50 467.79 Low 459.50 457.21
Soybean Meal	Mar SMH1	Low Hist Vol with NR7	R2 166.2 R1 165.1 DP 164.2 S1 163.1 S2 162.2	Hi 164.9 165.7 Low 162.9 162.1
Soybean Oil	Mar BOH1	2 Day ROC Buy Momentum Pinball Sell	R2 15.42 R1 15.22 DP 14.87 S1 14.67 S2 14.32	Hi 15.29 15.50 Low 14.74 14.52

ENERGY

Pattern Signals

Pivot System S&R

Range: Normal/Ext.

Crude Oil	Mar CLH1	90-10 High Continuation Momentum Pinball Sell	R2 30.71 R1 30.27 DP 29.40 S1 28.96 S2 28.09	Hi 30.48 30.98 Low 29.17 28.66
Heating Oil	Mar HOH1	90-10 High Continuation	R2 0.8011 R1 0.7898 DP 0.7686 S1 0.7573 S2 0.7361	Hi 0.7947 0.8071 Low 0.7622 0.7497
Natural Gas	Mar NGH1	90-10 High Continuation Momentum Pinball Sell	R2 6.860 R1 6.620 DP 6.180 S1 5.940 S2 5.500	Hi 6.720 6.980 Low 6.040 5.780

METALS

Pattern Signals

Pivot System S&R

Range: Normal/Ext.

Gold	Apr GCJ1	2 Day ROC Sell 90-10 High Continuation	R2 272.2 R1 271.5 DP 270.0 S1 269.3 S2 267.8	Hi 271.8 272.6 Low 269.6 268.8
Silver	Mar SIH1	Low Hist Vol with WRD Wide Range Upside Rev	R2 486.0 R1 483.5 DP 480.0 S1 477.5 S2 474.0	Hi 484.0 486.3 Low 478.0 475.7
Copper	Mar HGH1	2 Day ROC Sell	R2 85.63 R1 85.17 DP 84.63 S1 84.17 S2 83.63	Hi 85.20 85.58 Low 84.20 83.82

FOODS & FIBER

Pattern Signals

Pivot System S&R

Range: Normal/Ext.

Orange Juice	Mar JOH1	NR7 with an Inside Day	R2 78.73 R1 78.47 DP 78.03 S1 77.77 S2 77.33	Hi 78.55 78.82 Low 77.85 77.58
Sugar	Mar SBH1	Momentum Pinball Sell	R2 10.58 R1 10.42 DP 10.15 S1 9.99 S2 9.72	Hi 10.47 10.63 Low 10.04 9.87
Cocoa	Mar CCH1	2 Day ROC Buy 90-10 High Cont. & Rev	R2 1080 R1 1066 DP 1038 S1 1024 S2 996	Hi 1072 1088 Low 1030 1014
Coffee	Mar KCH1	Momentum Pinball Sell	R2 65.90 R1 65.30 DP 64.40 S1 63.80 S2 62.90	Hi 65.45 66.02 Low 63.95 63.38
Cotton	Mar CTH1	Momentum Pinball Buy	R2 61.88 R1 60.65 DP 59.78 S1 58.55 S2 57.68	Hi 60.48 61.28 Low 58.38 57.58

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.

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