The Pattern Trapper Blog

The February Lean Hogs contract has fired 2 Day ROC Sell, 90-10 Low Continuation & Reversal, and Momentum Pinball Buy signals for today's trading. The 2 Day ROC Sell signal implies that today's principal trade direction should be to the downside. 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) have moved into a region where short term cyclical tops often form, and the more immediate trend is to lower prices. Odds favor continued downside in today's early trading. Sell the break of yesterday's 84.175 low or even earlier if price demonstrates weakness below the 84.825 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 83.250 or the Extended Low Range Projection level of 82.525 would be likely areas for such a reversal to take place, as would a test and failure of yesterday's low. The Momentum Pinball Buy signal tells us to assume an upside bias if the first hour high happens to be taken out.

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The March Swiss Franc contract 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 right) appear as if a short term cyclical low has recently been marked, and the larger trend is to higher prices. Odds favor further upside in early morning trade. Look for an opportunity to buy the break of yesterday's 1.0867 high with a stop just below the 1.0836 level of the Daily Pivot. Price strength above the Daily Pivot may provide clues for earlier entry. The Momentum Pinball Sell signal, on the other hand, suggests we consider the short side if the first hour's low happens to be broken to the downside.

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The March Soybean Oil contract has fired 90-10 Low Continuation, High Breakout Continuation Setup, and Momentum Pinball Buy signals for today's trading. 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 Friday's late day move lower is likely to continue on into today. The High Breakout Continuation Setup signal implies significant upside IF Friday's high happens to be taken out. 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 further downside in early morning trade. Sell the break of Friday's 49.85 low with a stop just above the 50.21 level of the Daily Pivot. Price weakness below the DP may provide clues for earlier entry. The Momentum Pinball Buy signal tells us to change our bias to the upside on a break of the first hour high.

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The March S&P E-Mini contract has fired NR4, 90-10 High Continuation, and Momentum Pinball Sell signals for today's trading. The NR4 signal is triggered when the range of the day's trading is the narrowest of the last four days. It tells us to expect range expansion and a pickup in volatility with a likely breakout in store either today, or over the next few days. The 90-10 High Continuation signal tells us that yesterday's late day move higher is likely to continue on into today. The Momentum Pinball Sell signal suggests that we'd want to consider shorts if price is strong enough to break the first hour low. Cycle Indicators (chart at right) appear as if a short term cyclical low has recently been marked, and both the larger and more immediate trends are to higher prices. Although odds seem to favor the upside, the NR4 signal tells us to stand prepared for an impulse move in either direction. Trade the break of yesterday's 1458.00 high to 1438.25 low range with a stop an reverse on the opposite side as the entry (if entered long then stop and reverse on the break of yesterday's low -if entered short then stop and reverse on the break of yesterday's high). Price action relative to today's 1451.00 Daily Pivot level may provide clues for earlier entry.

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The March Feeder Cattle contract has fired 2 Day ROC Sell, 90-10 Low Continuation & Reversal, and High Breakout Continuation Setup signals for today's trading. The 2 Day ROC Sell signal implies that today's principal trade direction should be to the downside. 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 High Breakout Continuation Setup signal implies significant upside IF yesterday's high happens to be taken out. Cycle Indicators (chart at right) have moved into a region where short term cyclical lows often form, but the more immediate trend is to lower prices. Odds favor further downside in today's early trading. Look for an opportunity to sell the break of yesterday's 153.600 low, or even earlier if price demonstrates weakness below the 154.175 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 152.950 or the Extended Low Range Projection level of 152.350 would be likely areas for such a reversal to take place, as would a test and failure of yesterday's low.

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The March British Pound 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 we'd want to consider longs if price is strong enough to break the first hour high. Cycle Indicators (chart at right) appear as if a short term cyclical high has just been marked, but the more immediate trend is to higher prices. Odds favor continued downside in today's early trading. Look for an opportunity to sell the break of Friday's 1.6148 low, or even earlier if price demonstrates weakness below the 1.6194 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 1.6093 or the Extended Low Range Projection level of 1.6044 would be likely areas for such a reversal to take place, as would a test and failure of yesterday's low. The Momentum Pinball Buy signal tells us we can consider the long side even sooner if the first hour's high happens to be broken to the upside.

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The March Silver contract has fired 90-10 Low Continuation and Momentum Pinball Buy signals for today's trading. 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 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) have moved into a region where short term cyclical lows often form, but both the larger and more immediate trends are to lower prices. Odds favor further downside in early morning trade. Look for an opportunity to sell the break of yesterday's 29.635 low with a stop just above the 30.195 level of the Daily Pivot. Price weakness below the DP may provide clues for earlier entry. The Momentum Pinball Buy signal, however, tells us to change our bias to the upside if the day's first hour high happens to be taken out.

Forward this to friends and colleagues!     Disclaimer: trading involves significant risk and is not suitable for everyone.