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Corn Trading for Thursday, December 20

The Pattern Trapper Market Update Blog is a companion piece to the FREE! Daily Pattern Signals Report.

For maximum benefit be sure to check out the On-Line Course.

 

The March Corn 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) are mixed, but both the larger and more immediate trends are to lower prices. Odds favor continued downside in today's early trading. Look for an opportunity to sell the break of yesterday's 701^4 low, or even earlier if price demonstrates weakness below the 709^2 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 692^2 or the Extended Low Range Projection level of 684^0 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.

 

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

2233 Hits

Follow-up to December 18 Recommendation in the Dow Jones Mini

Tuesday's trading in the Dow Jones Mini developed as forecast in Monday evening's post, resulting in some very profitable opportunities.  Register to get these forecasts delivered directly to your in-box at www.PatternTrapper.com.
To best use these free reports be sure to check out the On-Line Course.


2428 Hits

Dow Jones Trading for Tuesday, December 18

The Pattern Trapper Market Update Blog is a companion piece to the FREE! Daily Pattern Signals Report.

For maximum benefit be sure to check out the On-Line Course.

 

The March Dow Jones 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 more immediate trend is to higher prices. Odds favor further upside in early morning trade. Look for an opportunity to buy the break of yesterday's 13193 high with a stop just below the 13152 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.

 

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

3661 Hits

Soybean Trading for Monday, December 17

The Pattern Trapper Market Update Blog is a companion piece to the FREE! Daily Pattern Signals Report.

For maximum benefit be sure to check out the On-Line Course.

 

The January Soybeans contract has fired 90-10 High Continuation & Reversal and Momentum Pinball Sell signals for today's trading. The 90-10 High Continuation & Reversal signal is telling 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. Cycle Indicators (chart at right) appear as if a short term cyclical low has recently been marked. Odds favor continued upside in today's early trading. Look for an opportunity to buy the break of Friday's 1497^0 high, or even earlier if price can demonstrate strength above 1489^0 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 1507^4 or the Extended High Range Projection level of 1516^0 would be likely areas for such a reversal to take place, as would be a test and failure of Friday's high.

 

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

2480 Hits

Silver Trading for Friday, December 14

The Pattern Trapper Market Update Blog is a companion piece to the FREE! Daily Pattern Signals Report.

For maximum benefit be sure to check out the On-Line Course.

 

The March Silver contract has fired 2 Day ROC Sell, 90-10 Low Continuation & Reversal, High Breakout Continuation Setup, 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 High Breakout Continuation Setup signal implies significant upside IF yesterday's high happens to be taken out. 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) are mixed, but the more immediate trend is to lower prices. Odds favor continued downside in today's early trading. Look for an opportunity to sell the break of yesterday's 32.280 low, or even earlier if price demonstrates weakness below the 32.720 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 31.735 or the Extended Low Range Projection level of 31.260 would be likely areas for such a reversal to take place.

 

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

2178 Hits

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