The Pattern Trapper for Friday, February 23, 2001

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Pattern Signal Firings Page
Highest Potential Setups for Friday, February 23, 2001
(Selected from market categories OTHER than the Indices or Interest Rates)

Canadian Dollar March Canadian Dollar has fired NR7 and Inside Day signals for today's trading. The NR7 signal is triggered when the range of the day's trading is the narrowest of the last seven days. It tells us that we're likely to have a breakout in store either today, or over the next few days. The Inside Day signal is fired when the day's trading occurs within the range of the prior day. A subsequent breakout of an Inside Day's range typically points the way of the next trend move. Although Cycle Indicators may be in the early stages of a new move higher (chart at left), the more immediate trend is to lower prices and the small triangle formation suggests a break to the downside. The NR7/Inside Day signal combination tells us to be ready for a move in either direction. Trade the break of yesterday's .6509 high to .6495 low range with a stop and reverse on the opposite side as the entry. Price action relative to today's .6503 Daily Pivot level may provide clues for earlier entry.
Soybean Oil Yesterday's Highest Potential Setup in Soybean Oil resulted in a move higher followed by a sharp reversal, exactly as forecast. Pattern Signals fired for today call for even further downside to follow. The May Soybean Oil contract has fired 2 Day ROC Sell, 90-10 Low Continuation, and Low Breakout Continuation Setup signals for today's trading. The 2 Day ROC Sell signal implies that today's principle trade direction should be to the downside. The 90-10 Low Continuation signal is fired when the day's trading closes within the bottom 10% of the day's range. It tells us that yesterday's late day move lower is likely to continue on into today. The Low Breakout Continuation Setup implies significant downside IF yesterday's low happens to be taken out. Cycle Indicators (chart at left) have moved into a region where short term cyclical tops often form. Odds favor the downside in early morning trade. Sell the break of yesterday's 15.15 low with a stop just above the 15.27 level of the Daily Pivot. Price weakness below the DP may provide clues for earlier entry.

Pattern Signals, Pivot Levels, and
Range Projections for Friday, February 23, 2001

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 SPH1	2 Day ROC Buy Wide Range Upside Rev	R2 1285.17 R1 1271.33 DP 1250.67 S1 1236.83 S2 1216.17	Hi 1274.75 1287.93 Low 1240.25 1227.07
Dow Jones	Mar DJH1	2 Day ROC Buy	R2 10716 R1 10641 DP 10521 S1 10446 S2 10326	Hi 10665 10739 Low 10470 10395
Nasdaq 100	Mar NDH1	No Pattern Signals fired	R2 2169.17 R1 2110.33 DP 2039.17 S1 1980.33 S2 1909.17	Hi 2116.50 2166.16 Low 1986.50 1936.84
Russell 2000	Mar RLH1	No Pattern Signals fired	R2 492.08 R1 486.12 DP 480.53 S1 474.57 S2 468.98	Hi 485.92 490.34 Low 474.38 469.96

INTEREST RATES

Pattern Signals

Pivot System S&R

Range: Normal/Ext.

US T-Bond	Mar USH1	No Pattern Signals fired	R2 104´06 R1 103´23 DP 103´10 S1 102´27 S2 102´14	Hi 103´21 104´00 Low 102´25 102´14
US 10 Yr. T-Note	Mar TYH1	NR7 Signal	R2 105.2290 R1 105.0210 DP 104.8230 S1 104.6150 S2 104.4170	Hi 105.0160 105.1710 Low 104.6090 104.4540

CURRENCIES

Pattern Signals

Pivot System S&R

Range: Normal/Ext.

British Pound	Mar BPH1	2 Day ROC Buy Low Breakout Cont. Setup	R2 1.4569 R1 1.4511 DP 1.4461 S1 1.4403 S2 1.4353	Hi 1.4506 1.4547 Low 1.4398 1.4357
Canadian Dollar	Mar CDH1	NR7 with an Inside Day	R2 0.6517 R1 0.6510 DP 0.6503 S1 0.6496 S2 0.6489	Hi 0.6511 0.6516 Low 0.6497 0.6492
EuroFX	Mar ECH1	2 Day ROC Buy	R2 0.9144 R1 0.9099 DP 0.9060 S1 0.9015 S2 0.8976	Hi 0.9097 0.9129 Low 0.9013 0.8981
Japanese Yen	Mar JYH1	2 Day ROC Buy	R2 0.8672 R1 0.8645 DP 0.8620 S1 0.8593 S2 0.8568	Hi 0.8644 0.8664 Low 0.8592 0.8572
Swiss Franc	Mar SFH1	2 Day ROC Buy High Breakout Cont. Setup	R2 0.5976 R1 0.5947 DP 0.5920 S1 0.5891 S2 0.5864	Hi 0.5945 0.5966 Low 0.5889 0.5868

LIVESTOCK

Pattern Signals

Pivot System S&R

Range: Normal/Ext.

Feeder Cattle	Mar FCH1	Inside Day 2 Day ROC Sell Momentum Pinball Buy	R2 88.317 R1 88.033 DP 87.767 S1 87.483 S2 87.217	Hi 88.025 88.235 Low 87.475 87.265
Live Cattle	Apr LCJ1	90-10 High Continuation	R2 80.908 R1 80.617 DP 80.058 S1 79.767 S2 79.208	Hi 80.750 81.075 Low 79.900 79.575
Lean Hogs	Apr LHJ1	Low Hist Vol with NR7 2 Day ROC Sell	R2 62.658 R1 62.317 DP 61.733 S1 61.392 S2 60.808	Hi 62.438 62.791 Low 61.513 61.159

GRAINS

Pattern Signals

Pivot System S&R

Range: Normal/Ext.

Corn	May CK1	90-10 Low Continuation	R2 221.92 R1 219.83 DP 218.67 S1 216.58 S2 215.42	Hi 219.38 220.62 Low 216.13 214.88
Wheat	Mar WH1	90-10 Low Continuation High Breakout Cont. Setup	R2 266.50 R1 262.50 DP 260.25 S1 256.25 S2 254.00	Hi 261.63 264.01 Low 255.38 252.99
Soybeans	May SK1	Low Hist Vol with WRD 90-10 Low Continuation	R2 464.00 R1 459.50 DP 457.00 S1 452.50 S2 450.00	Hi 458.50 461.17 Low 451.50 448.83
Soybean Meal	May SMK1	Low Hist Vol with WRD Low Range Close Momentum Pinball Buy	R2 162.9 R1 161.4 DP 160.3 S1 158.8 S2 157.7	Hi 161.1 162.1 Low 158.5 157.5
Soybean Oil	May BOK1	2 Day ROC Sell 90-10 Low Continuation Low Breakout Cont. Setup	R2 15.61 R1 15.38 DP 15.27 S1 15.04 S2 14.93	Hi 15.33 15.46 Low 14.99 14.86

ENERGY

Pattern Signals

Pivot System S&R

Range: Normal/Ext.

Crude Oil	Apr CLJ1	2 Day ROC Buy	R2 29.63 R1 29.23 DP 28.79 S1 28.39 S2 27.95	Hi 29.24 29.56 Low 28.40 28.08
Heating Oil	Apr HOJ1	2 Day ROC Buy	R2 0.7430 R1 0.7341 DP 0.7260 S1 0.7171 S2 0.7090	Hi 0.7336 0.7401 Low 0.7166 0.7101
Natural Gas	Mar NGH1	NR7 with an Inside Day 2 Day ROC Buy	R2 5.267 R1 5.205 DP 5.157 S1 5.095 S2 5.047	Hi 5.197 5.239 Low 5.087 5.045

METALS

Pattern Signals

Pivot System S&R

Range: Normal/Ext.

Gold	Apr GCJ1	2 Day ROC Buy	R2 263.3 R1 261.5 DP 260.0 S1 258.2 S2 256.7	Hi 261.5 262.7 Low 258.1 256.9
Silver	Mar SIH1	Inside Day	R2 445.5 R1 443.5 DP 442.0 S1 440.0 S2 438.5	Hi 443.3 444.6 Low 439.8 438.4
Copper	Mar HGH1	NR4 Signal 2 Day ROC Buy	R2 80.77 R1 80.43 DP 80.07 S1 79.73 S2 79.37	Hi 80.45 80.72 Low 79.75 79.48

FOODS & FIBER

Pattern Signals

Pivot System S&R

Range: Normal/Ext.

Orange Juice	May JOK1	2 Day ROC Buy 90-10 High Cont. & Rev High Breakout Cont. Setup	R2 78.07 R1 77.63 DP 76.87 S1 76.43 S2 75.67	Hi 77.80 78.26 Low 76.60 76.14
Sugar	May SBK1	No Pattern Signals fired	R2 9.27 R1 9.15 DP 9.06 S1 8.94 S2 8.85	Hi 9.14 9.22 Low 8.93 8.84
Cocoa	May CCK1	90-10 Low Continuation	R2 1230 R1 1192 DP 1169 S1 1131 S2 1108	Hi 1184 1207 Low 1123 1099
Coffee	May KCK1	2 Day ROC Sell 90-10 Low Continuation	R2 67.68 R1 66.37 DP 65.68 S1 64.37 S2 63.68	Hi 66.05 66.81 Low 64.05 63.29
Cotton	May CTK1	2 Day ROC Buy	R2 58.62 R1 57.15 DP 55.90 S1 54.43 S2 53.18	Hi 57.04 58.08 Low 54.32 53.28

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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