The Pattern Trapper Blog

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.

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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.

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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.

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The March Australian Dollar contract has fired 2 Day ROC Buy, 90-10 High Continuation, and Momentum Pinball Sell signals for today's trading. The 2 Day ROC Buy signal implies that today's principal trade direction should be to the upside. The 90-10 High Continuation signal is fired when the day 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) are moving into a region where short term cyclical tops often form, but both the larger and more immediate trends are to higher prices. Odds favor continued upside in today's early trading. Look for an opportunity to get long on a break of yesterday's 1.0457 high with a stop just below the 1.0432 level of the Daily Pivot. Price strength above the DP 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 Sugar contract has fired 90-10 Low Continuation & Reversal, High Breakout Continuation Setup, 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 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) 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 continued downside in today's early trading. Look for an opportunity to sell on a break of yesterday's 18.72 low, or even earlier if price demonstrates weakness below the 18.91 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 18.50 or the Extended Low Range Projection level of 18.30 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, on the other hand, suggests we consider the long side if the first hour's high happens to be broken to the upside.

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The January Soybeans contract has fired 2 Day ROC Sell, Wide Range Downside Reversal, 90-10 Low Continuation, 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 Wide Range Downside Reversal signal tells us that Friday's trading likely marked a significant short term turning point with more downside to follow. The 90-10 Low Continuation signal suggests that Friday's late day move lower is likely to continue on into today. The Momentum Pinball Buy signal tells us 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 top has just been marked, and the larger trend is to lower prices. Odds favor further downside in early morning trade. Look for an opportunity to sell on a break of Friday's 1470^0 low with a stop just above the 1480^2 level of the Daily Pivot. Price weakness below the DP may provide clues for earlier entry. The Momentum Pinball Buy signal, on the other hand, suggests we consider the long side if the first hour's high happens to be broken to the upside.

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The January Natural Gas contract has fired Wide Range Upside Reversal, 90-10 High Continuation, and Momentum Pinball Sell signals for today's trading. The Wide Range Upside Reversal signal tells us that yesterday's action likely marked a significant intermediate term turning point with more upside to follow. The 90-10 High Continuation signal tells us that the day'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 just been marked. Odds favor further upside in today's early trading. Look for opportunities to get long on a break of yesterday's 3.719 high with a stop just under the 3.700 level of today's Daily Pivot. Price strength above the DP 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.