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The STOCK INDEXES & MARKETS
The NASDAQ Composite index closed higher due to profit
taking on Friday, which left yesterday's key reversal down
unconfirmed. The mid-range close sets the stage for a steady
opening on Monday. Closes below the 10-day moving average
crossing at 2118.91 would greatly increase the odds that a
short-term top has been posted. If the NASDAQ Composite
index extends this winter's rally, a test of the May 2001
high crossing at 2328.05 is possible later this year.
Stochastics and the RSI are overbought and turning neutral
hinting that a short-term top might be in or is near.
The March S&P 500 index closed lower on Friday due to profit
taking. The mid-range close sets the stage for a steady
opening on Monday. Closes below the 10-day moving average
crossing at 1133.81 would signal that a short-term top has
been posted. If March extends this winter's rally, a test of
the 50% retracement level of the 2000-02 decline crossing at
1170.75 is possible later this year. Stochastics and the RSI
are overbought and are turning bearish hinting that a short-
term top might be in or is near.
The Dow closed lower due to profit taking on Friday negating
Wednesday's key reversal up. The mid-range close sets the
stage for a steady opening on Monday. Closes below the 20-
day moving average crossing at 10,499 would confirm that a
short-term top has been posted. If the Dow extends this
winter's rally, a test of the 75% retracement level of the
2000-02 decline crossing at 10,675 is possible later this
month. The Dow closed down 55 points at 10,568.
More at http://quotes.ino.com/exchanges/?c=indexes
INTEREST RATES
March bond tested last week's high in early trading on
Friday before profit taking ahead of the weekend led to a
huge sell off and marked a key reversal down. Closes below
today's low would confirm that a double top with last week's
high was posted. The low-range close sets the stage for a
steady to lower opening on Monday. However, closes below
December's high crossing at 111-11 would open the door for
sideways to lower prices into early-February. Stochastics
and the RSI are overbought and turned neutral to bearish
with today's decline hinting that a double top might have
been posted with today's high.
The CRB INDEX
The CRB index closed lower on Friday due to weakness in
grains, some livestock, gold, foods and some energy markets.
Today's low-range close sets the stage for a steady to lower
opening on Monday. If this winter's rally continues, a test
of the 1988 high crossing at 272.19 is possible later this
winter. Stochastics and the RSI are overbought and turning
neutral to bearish warning bulls to use caution as a short-
term top might be in or is near. Closes below last week's
low crossing at 264.41 would confirm that a top has been
posted.
More at http://quotes.ino.com/exchanges/?c=interest
ENERGY MARKETS
The energy markets closed mostly lower on Friday due to
profit taking ahead of the weekend.
March crude oil closed slightly higher on Friday but
confirmed yesterday's upside reversal, which led to a closed
above last week's high crossing at 34.70. The mid-range
close sets the stage for a steady opening on Monday. If this
winter's rally continues, the 75% retracement level of the
2003 decline crossing at 36.46 on the weekly chart is
March's next upside target. Multiple closes below last
week's low crossing at 32.35 are needed to confirm that a
short-term top has been posted. Stochastics and the RSI are
diverging but are bullish signaling that additional short-
term gains are possible.
March heating oil closed lower due to profit taking on
Friday, which left yesterday's key reversal up unconfirmed.
Today's low-range close sets the stage for a steady to lower
opening on Monday. However, this week's closes above last
week's high has renewed this winter's rally and opened the
door for a possible test of the 62% retracement level of the
2003 decline on the weekly chart crossing at 106.70 later
this winter. Stochastics and the RSI are diverging but are
bullish signaling that sideways to higher prices are
possible near-term. Closes below last Thursday's low are
needed to confirm that a top has been posted and would open
the door for a possible test of the 40-day moving average
crossing at 90.80 later this winter.
March unleaded gas closed lower on Friday due to profit
taking, which left yesterday's key reversal up unconfirmed.
The low-range close sets the stage for a steady to lower
opening on Monday. However, Thursday's close above last
Friday's high at 102.80 has opened the door for a possible
test of weekly resistance crossing at 105.68 later this
winter. Stochastics and the RSI are diverging but are
bullish signaling that sideways to higher prices are
possible near-term. Multiple closes below last week's low
crossing at 93.50 are needed to confirm that a top has been
posted and would open the door for a possible test of the
40-day moving average crossing at 92.74 later this month.
March Henry Hub natural gas posted an inside day with a
higher close on Friday as it consolidated some of Thursday's
loss. March continues to consolidate above the late-December
low crossing at 5.70. The mid-range close sets the stage for
a steady opening on Monday. Closes below 5.70 would open the
door for additional weakness and could lead to a test of
November's high crossing at 5.27 later this winter.
Stochastics and the RSI are bearish signaling that sideways
to lower prices are possible near-term.
More at http://quotes.ino.com/exchanges/?c=energy
CURRENCY FUTURES | REAL TIME FOREX
The March Dollar closed higher on Friday due to short
covering and above the 20-day moving average crossing at
86.73. The high-range close sets the stage for a steady to
firmer opening on Monday. Today's rebound turned stochastics
and the RSI bullish again signaling that sideways to higher
prices is possible near-term. However, it will take closes
above last week's high crossing at 88.17 to renew March's
rally off this month's low.
The March Euro posted a key reversal down on Friday and
closed below the 20-day moving average crossing at 125.964
thereby ending a three-day rebound off the 40-day moving
average. The low-range close sets the stage for a steady to
lower opening on Monday, as additional profit taking is
possible. Stochastics and the RSI renewed their bearish
modes with today's decline hinting that additional weakness
is possible near-term. Closes below Tuesday's low would open
the door for a test of the 38% retracement level of the
November-January rally crossing at 122.882 later this month.
The March Swiss Franc posted a key reversal down on Friday
and closed below the 20-day moving average crossing at .8083
thereby ending a three-day rebound. The low-range close sets
the stage for a steady to lower opening on Monday, as
additional profit taking is possible. Stochastics and the
RSI renewed their bearish modes signaling that sideways to
lower prices are possible. Closes below Tuesday's low would
renew last week's decline and could lead to a test of fib
support crossing at .7761 later this winter.
The March Canadian Dollar closed sharply lower on Friday and
tested the 62% retracement level of the December-January
rally crossing at .7589. The low-range close sets the stage
for a steady to lower opening on Monday. If this month's
decline continues the 75% retracement level crossing at
.7525 is the next downside target. Stochastics and the RSI
are bearish signaling that sideways to lower prices are
possible near-term.
The March Japanese Yen closed lower on Friday and closed at
resistance marked by December's high crossing at .9400.
Today's low-range close sets the stage for a steady to lower
opening on Monday. Closes above last week's high crossing at
.9475 or below the 40-day moving average crossing at .9339
are needed to clear up near-term direction in the market.
Stochastics and the RSI are turning neutral hinting that
sideways prices are possible near-term.
More at http://quotes.ino.com/exchanges/?e=FOREX
PRECIOUS AND NON-FERROUS METALS
February gold closed lower due to strength in the U.S.
Dollar on Friday but the low-range close sets the stage for
a steady to lower opening on Monday. Friday's decline
extended Thursday's breakout below the 40-day moving average
crossing at 410.70. Closes below last week's low crossing at
405.70 would open the door for a possible test of the 38%
retracement level of the July-January rally crossing at
398.10 later this winter. Stochastics and the RSI are
bearish and the daily ADX (a trend-following indicator) has
turned down signaling that sideways to lower prices are
possible near-term.
March silver posted an inside day with a slightly higher
close on Friday as it consolidates above the 20-day moving
average crossing at 6.209 but remains below the 10-day
moving average crossing at 6.393. Today's upper-range close
sets the stage for a steady to firmer opening on Monday.
Stochastics and the RSI remains bearish signaling that
sideways to lower prices are possible into the last half of
January. Closes below the 20-day moving average crossing at
6.209 would open the door for a possible test of the 40-day
moving average crossing at 5.869 later this winter.
March copper closed higher on Friday as it consolidates
above the previous reaction high crossing at 111.00. The
high-range close sets the stage for a steady to higher
opening on Monday. If March extends this winter's rally, a
test of the 62% retracement level of the 1989-2001 decline
crossing at 118.69 is possible later this winter. The daily
ADX (a trend-following indicator) is bullish and rising
signaling that sideways to higher prices are possible near-
term. Closes below last week's low crossing at 106.70 would
confirm that a top has likely been posted.
More at http://quotes.ino.com/exchanges/?c=metals
FOOD & FIBER
March coffee posted an inside day with a lower close on
Friday as it consolidates around last September's high
crossing at 75.00. The mid-range close sets the stage for a
steady opening on Monday. If March extends this winter's
rally, the 38% retracement level of the 1999-2001 decline on
the weekly chart crossing at 81.04 is the next upside target
later this winter. Stochastics and the RSI are overbought
but remain bullish hinting that additional gains are
possible near-term. Closes below the 10-day moving average
crossing at 71.80 would confirm that a short-term top has
been posted.
March cocoa closed lower due to profit taking on Friday and
filled yesterday's gap crossing at 1635. The low-range close
sets the stage for a steady to lower opening on Monday. If
March renews last week's rally, a test of August's high
crossing at 1737 is the next upside target. Closes below
Tuesday's low crossing at 1580 would confirm that a short-
term top has been posted while opening the door for a
larger-degree decline into the end of January. Stochastics
and the RSI have turning neutral as it awaits direction from
the market.
March sugar closed lower due to profit taking on Friday as
it consolidates below the 10-day moving average crossing at
585 and this winter's downtrend line. Closes above these
resistance levels are needed to confirm a bottom and signal
a short-term trend change has taken place. Closes below last
week's low at 563 would renew the decline off December's
high and set the stage for a test of long-term support
crossing at 551 later this winter. Stochastics and the RSI
are turning neutral hinting that a short-term trend change
is taking place.
March cotton closed slightly higher on Friday and the high-
range close sets the stage for a steady to firmer opening on
Monday as a test of the 50% retracement level of last fall's
decline crossing at 76.55 is the next upside target. Closes
below last week's low at 72.30 would confirm a top while
opening the door for a larger-degree setback into the end of
January. Stochastics and the RSI have turned bullish
signaling that sideways to higher prices are possible near-
term.
More at http://quotes.ino.com/exchanges/?c=food
GRAINS & SOYBEAN COMPLEX
March corn closed higher on Friday as it extends last
Friday's breakout above weekly resistance marked by the 62%
retracement level of the 2002-03 crossing at 2.70. Today's
mid-range close sets the stage for a steady opening on
Monday. If March extends its rally off December's low, a
test of the 75% retracement level of the 2002-03 crossing at
2.82 is possible later this winter. The daily ADX (a trend-
following indicator) is bullish and rising signaling that
sideways to higher prices are possible near-term. Closes
below the 10-day moving average crossing at 2.70 would be a
warning sign to bulls that a short-term top might be in or
is near.
March wheat closed lower for the fourth day in a row despite
a strong weekly export sales report, which showed net sales
of 39.7 million bullish. Technical selling continues to
dominate March wheat, which led to a test of gap support
beginning at 3.80 1/2. The low-range close sets the stage
for a steady to lower opening on Monday as today's breakout
below last Friday's low crossing at 3.82 1/2 has open the
door for a test of gap support crossing at 3.77 3/4 later
this month. Stochastics and the RSI are bearish signaling
that sideways to lower prices are possible near-term. Closes
above this month's high crossing at 4.07 are needed to renew
March's rally off December's low and would set the stage for
a possible test of the contract high crossing at 4.21 1/2
later this winter.
March Kansas City Wheat closed lower on Friday and tested
gap support crossing at 3.87. A short covering bounce ahead
of the close tempered some of today's loss and allowed March
to close just above last week's low crossing at 3.90 3/4.
The mid-range close sets the stage for a steady opening on
Monday. Closes below today's low crossing at 3.87 could lead
to a test of gap support crossing at 3.85 later this month.
Stochastics and the RSI are bearish signaling that sideways
to lower prices are possible near-term. Closes above the
contract high crossing at 4.16 are needed to renew last
fall's rally.
SOYBEAN COMPLEX
March soybeans posted a key reversal down due to profit
taking ahead of the close on Friday. Early strength was tied
to rumors that Canada might soon announce a ban on the use
of meat and bone meal in all livestock feed. The low-range
close sets the stage for a steady to lower opening on
Monday. Today's spike above monthly resistance crossing at
8.45 3/4 keeps the rally off December's low intact for now.
Closes above this resistance level would renew last week's
rally and could lead to an eventual test of the 1997 high on
the weekly March soybean chart crossing at 8.62 later this
winter. The daily ADX (a trend-following indicator) is in a
bullish mode signaling that sideways to higher prices are
possible near-term. Closes below last Monday's low crossing
at 8.17 would temper the near-term friendly outlook in the
market.
March soybean meal closed slightly higher on Friday amidst
rumors of a possible ban on meat and bone meal by Canada.
Profit taking ahead of the close tempered some of today's
gains but not before March closed above long-term resistance
crossing at 264.10. If the rally continues, a test of the
August 1983 high crossing at 267 is possible later this
month. The low-range close sets the stage for a steady to
lower opening on Monday. Stochastics, RSI and the daily ADX
(a trend-following indicator) are bullish signaling that
sideways to higher prices are possible near-term. Support
begins with the 10-day moving average crossing at 256.60.
March soybean oil closed higher due to short covering on
Friday but remains below broken support marked by the 10-day
moving average crossing at 29.54. Profit taking ahead of the
close tempered today's rebound and the mid-range close sets
the stage for a steady opening on Monday. Closes below
Wednesday's low crossing at 28.98 would open the door for a
test of last Monday's gap crossing at 28.56, which coincides
with the 20-day moving average at 28.61. If March resumes
last week's rally, a test of the January 1994 high crossing
at 30.75 and possibly the May 1994 high crossing at 30.82
are possible later this winter. Stochastics and the RSI have
turned bearish signaling that sideways to lower prices are
possible near-term.
More at http://quotes.ino.com/exchanges/?c=grains
LIVESTOCK and MEATS
February hogs posted an inside day with a lower close on
Monday thereby confirming yesterday's key reversal down.
Today's mid-range close sets the stage for a steady opening
on Monday. Additional weakness on Monday would increase the
odds that a double top with the early-January high was
posted with Thursday's high. Closes above 56.10 would open
the door for a possible test of the December high crossing
at 57.00 later this winter. Stochastics and the RSI are
bullish but diverging, which is often a precursor to a top
and trend change.
February bellies posted an inside day with a higher close
due to short covering on Friday. The mid-range close sets
the stage for a steady opening on Monday. If February
extends last week's decline, a test of the 75% retracement
level of the August-October rally crossing at 80.41 is
possible later this winter. Stochastics and the RSI are
bearish signaling that sideways to lower prices are possible
near-term. Closes above the 20-day moving average crossing
at 84.64 would signal that a low has likely been posted.
February cattle closed near limit down due to profit taking
on Friday while confirming yesterday's downside reversal.
The low-range close sets the stage for a steady to lower
opening on Monday. Stochastics and the RSI are bullish
signaling that sideways to higher prices are still possible
near-term. Closes above the 50% retracement level crossing
at 83.06 would open the door for a possible test of the 40-
day moving average crossing at 84.46 later this winter.
Closes below Tuesday's low at 79.30 would temper the near-
term friendly outlook in the market.
March Feeder cattle closed lower due to profit taking on
Friday and below this month's uptrend line and the 10-day
moving average crossing at 84.37. The low-range close sets
the stage for a steady to lower opening on Monday, as
additional weakness is possible near-term. Stochastics and
the RSI are bullish but becoming overbought hinting that a
short-term top might be in or is near. If March resumes its
rally off December's low, a test of the 50% retracement
level crossing at 87.48 is possible later this month.
More at http://quotes.ino.com/exchanges/?c=livestock
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__________________________________________________ __________________________
E X T R E M E F U T U R E S
__________________________________________________ __________________________
Updated every 10 minutes around the clock.
More at http://quotes.ino.com/analysis/extremes/futures/
WINNERS
NGG4 Henry Hub Natural Gas Feb 2004 6.059 0.256 +4.39
DBV4 Butter Oct 2004 155.000 4.000 +2.58
FFY Federal Funds 30day Cash 1.0200 0.0200 +2.00
PNH4 Propane Mar 2004 0.6300 0.0100 +1.61
PLF4 Platinum Jan 2004 876.5 10.3 +1.18
VLK4 Soybean Oil (a/c/e) May 2004 29.19 0.33 +1.14
LHV4 Lean Hogs Oct 2004 52.550 0.550 +1.06
YCH5 Mini Corn Mar 2005 277 2 3/4 +1.00
CH5 Corn Mar 2005 277 2 3/4 +1.00
DXY0 Dollar Index Cash 86.63 0.81 +0.93
LOSERS
PAM4 Palladium Jun 2004 243.90 -18.35 -7.19
CCK4 Cocoa May 2004 1599 -69 -4.15
LBK4 Random Length Lumber May 2004 347.50 -10.00 -2.80
KWN4 Wheat Jul 2004 384 1/2 -8 -2.04
HUG4 NY Harbor Unleaded Gasoline Feb 2004 1.0365 -0.0209 -1.98
KCH5 Coffee 'C' Mar 2005 84.05 -1.60 -1.89
LCG4 Live Cattle Feb 2004 80.175 -1.500 -1.84
CDU4 Canadian Dollar Sep 2004 0.75390 -0.01380 -1.80
MQM4 Mexican Peso Jun 2004 11.0711 -0.1997 -1.77
MWK4 Hard Red Spring Wheat May 2004 398 1/4 -6 -1.49
Short Term Trend Direction Forecasts For 43 Commodity Markets.
Projects the next day's highs and lows and whether the market
is expected to make a top or bottom over the next two days
with up to 80% accuracy.
http://www.ino.com/specials/348D8/mk...tagepoint.html
__________________________________________________ __________________________
E X T R E M E S T O C K S
__________________________________________________ __________________________
Updated every 10 minutes around the clock.
More at http://quotes.ino.com/analysis/extremes/stocks/
WINNERS
GAIT Langer Inc 5.8380 2.3380 +66.80
RADN Radyne ComStream 9.7800 2.6000 +36.21
ANDR Andersen Group 6.1200 1.1300 +22.65
SYNA Synaptics Inc 19.7000 3.5000 +21.60
CPWR Compuware Corp 8.2900 1.4600 +21.41
CKCM Click Commerce 7.7500 1.3600 +21.28
MSCC Microsemi Corp 32.5400 5.5800 +20.70
ANLT Analytical Surveys 5.5000 0.8990 +19.54
SUNN Suntron Corp 5.8700 0.9000 +18.11
HYSL Hyperion Solutions 36.2000 5.3900 +17.50
LOSERS
VYYO Vyyo Inc 7.6200 -1.9800 -20.62
CALD Callidus Software 16.1000 -3.8900 -19.53
NAFC Nash Finch Co 24.5000 -3.8020 -13.43
TSEM Tower Semiconductor 6.9900 -0.9000 -11.41
VC Visteon Corp 11.0300 -1.3200 -10.69
GMCR Green Mountain Coffee Roasters 21.4000 -2.5500 -10.65
JCOM j2 Global Communications 22.5800 -2.6700 -10.57
SGG SGL Carbon AG ADS 6.8500 -0.7200 -9.51
LRCX Lam Research 29.0600 -2.9600 -9.24
DOCX Document Sciences 5.2300 -0.5200 -9.04
__________________________________________________ _____
The NASDAQ Composite index closed higher due to profit
taking on Friday, which left yesterday's key reversal down
unconfirmed. The mid-range close sets the stage for a steady
opening on Monday. Closes below the 10-day moving average
crossing at 2118.91 would greatly increase the odds that a
short-term top has been posted. If the NASDAQ Composite
index extends this winter's rally, a test of the May 2001
high crossing at 2328.05 is possible later this year.
Stochastics and the RSI are overbought and turning neutral
hinting that a short-term top might be in or is near.
The March S&P 500 index closed lower on Friday due to profit
taking. The mid-range close sets the stage for a steady
opening on Monday. Closes below the 10-day moving average
crossing at 1133.81 would signal that a short-term top has
been posted. If March extends this winter's rally, a test of
the 50% retracement level of the 2000-02 decline crossing at
1170.75 is possible later this year. Stochastics and the RSI
are overbought and are turning bearish hinting that a short-
term top might be in or is near.
The Dow closed lower due to profit taking on Friday negating
Wednesday's key reversal up. The mid-range close sets the
stage for a steady opening on Monday. Closes below the 20-
day moving average crossing at 10,499 would confirm that a
short-term top has been posted. If the Dow extends this
winter's rally, a test of the 75% retracement level of the
2000-02 decline crossing at 10,675 is possible later this
month. The Dow closed down 55 points at 10,568.
More at http://quotes.ino.com/exchanges/?c=indexes
INTEREST RATES
March bond tested last week's high in early trading on
Friday before profit taking ahead of the weekend led to a
huge sell off and marked a key reversal down. Closes below
today's low would confirm that a double top with last week's
high was posted. The low-range close sets the stage for a
steady to lower opening on Monday. However, closes below
December's high crossing at 111-11 would open the door for
sideways to lower prices into early-February. Stochastics
and the RSI are overbought and turned neutral to bearish
with today's decline hinting that a double top might have
been posted with today's high.
The CRB INDEX
The CRB index closed lower on Friday due to weakness in
grains, some livestock, gold, foods and some energy markets.
Today's low-range close sets the stage for a steady to lower
opening on Monday. If this winter's rally continues, a test
of the 1988 high crossing at 272.19 is possible later this
winter. Stochastics and the RSI are overbought and turning
neutral to bearish warning bulls to use caution as a short-
term top might be in or is near. Closes below last week's
low crossing at 264.41 would confirm that a top has been
posted.
More at http://quotes.ino.com/exchanges/?c=interest
ENERGY MARKETS
The energy markets closed mostly lower on Friday due to
profit taking ahead of the weekend.
March crude oil closed slightly higher on Friday but
confirmed yesterday's upside reversal, which led to a closed
above last week's high crossing at 34.70. The mid-range
close sets the stage for a steady opening on Monday. If this
winter's rally continues, the 75% retracement level of the
2003 decline crossing at 36.46 on the weekly chart is
March's next upside target. Multiple closes below last
week's low crossing at 32.35 are needed to confirm that a
short-term top has been posted. Stochastics and the RSI are
diverging but are bullish signaling that additional short-
term gains are possible.
March heating oil closed lower due to profit taking on
Friday, which left yesterday's key reversal up unconfirmed.
Today's low-range close sets the stage for a steady to lower
opening on Monday. However, this week's closes above last
week's high has renewed this winter's rally and opened the
door for a possible test of the 62% retracement level of the
2003 decline on the weekly chart crossing at 106.70 later
this winter. Stochastics and the RSI are diverging but are
bullish signaling that sideways to higher prices are
possible near-term. Closes below last Thursday's low are
needed to confirm that a top has been posted and would open
the door for a possible test of the 40-day moving average
crossing at 90.80 later this winter.
March unleaded gas closed lower on Friday due to profit
taking, which left yesterday's key reversal up unconfirmed.
The low-range close sets the stage for a steady to lower
opening on Monday. However, Thursday's close above last
Friday's high at 102.80 has opened the door for a possible
test of weekly resistance crossing at 105.68 later this
winter. Stochastics and the RSI are diverging but are
bullish signaling that sideways to higher prices are
possible near-term. Multiple closes below last week's low
crossing at 93.50 are needed to confirm that a top has been
posted and would open the door for a possible test of the
40-day moving average crossing at 92.74 later this month.
March Henry Hub natural gas posted an inside day with a
higher close on Friday as it consolidated some of Thursday's
loss. March continues to consolidate above the late-December
low crossing at 5.70. The mid-range close sets the stage for
a steady opening on Monday. Closes below 5.70 would open the
door for additional weakness and could lead to a test of
November's high crossing at 5.27 later this winter.
Stochastics and the RSI are bearish signaling that sideways
to lower prices are possible near-term.
More at http://quotes.ino.com/exchanges/?c=energy
CURRENCY FUTURES | REAL TIME FOREX
The March Dollar closed higher on Friday due to short
covering and above the 20-day moving average crossing at
86.73. The high-range close sets the stage for a steady to
firmer opening on Monday. Today's rebound turned stochastics
and the RSI bullish again signaling that sideways to higher
prices is possible near-term. However, it will take closes
above last week's high crossing at 88.17 to renew March's
rally off this month's low.
The March Euro posted a key reversal down on Friday and
closed below the 20-day moving average crossing at 125.964
thereby ending a three-day rebound off the 40-day moving
average. The low-range close sets the stage for a steady to
lower opening on Monday, as additional profit taking is
possible. Stochastics and the RSI renewed their bearish
modes with today's decline hinting that additional weakness
is possible near-term. Closes below Tuesday's low would open
the door for a test of the 38% retracement level of the
November-January rally crossing at 122.882 later this month.
The March Swiss Franc posted a key reversal down on Friday
and closed below the 20-day moving average crossing at .8083
thereby ending a three-day rebound. The low-range close sets
the stage for a steady to lower opening on Monday, as
additional profit taking is possible. Stochastics and the
RSI renewed their bearish modes signaling that sideways to
lower prices are possible. Closes below Tuesday's low would
renew last week's decline and could lead to a test of fib
support crossing at .7761 later this winter.
The March Canadian Dollar closed sharply lower on Friday and
tested the 62% retracement level of the December-January
rally crossing at .7589. The low-range close sets the stage
for a steady to lower opening on Monday. If this month's
decline continues the 75% retracement level crossing at
.7525 is the next downside target. Stochastics and the RSI
are bearish signaling that sideways to lower prices are
possible near-term.
The March Japanese Yen closed lower on Friday and closed at
resistance marked by December's high crossing at .9400.
Today's low-range close sets the stage for a steady to lower
opening on Monday. Closes above last week's high crossing at
.9475 or below the 40-day moving average crossing at .9339
are needed to clear up near-term direction in the market.
Stochastics and the RSI are turning neutral hinting that
sideways prices are possible near-term.
More at http://quotes.ino.com/exchanges/?e=FOREX
PRECIOUS AND NON-FERROUS METALS
February gold closed lower due to strength in the U.S.
Dollar on Friday but the low-range close sets the stage for
a steady to lower opening on Monday. Friday's decline
extended Thursday's breakout below the 40-day moving average
crossing at 410.70. Closes below last week's low crossing at
405.70 would open the door for a possible test of the 38%
retracement level of the July-January rally crossing at
398.10 later this winter. Stochastics and the RSI are
bearish and the daily ADX (a trend-following indicator) has
turned down signaling that sideways to lower prices are
possible near-term.
March silver posted an inside day with a slightly higher
close on Friday as it consolidates above the 20-day moving
average crossing at 6.209 but remains below the 10-day
moving average crossing at 6.393. Today's upper-range close
sets the stage for a steady to firmer opening on Monday.
Stochastics and the RSI remains bearish signaling that
sideways to lower prices are possible into the last half of
January. Closes below the 20-day moving average crossing at
6.209 would open the door for a possible test of the 40-day
moving average crossing at 5.869 later this winter.
March copper closed higher on Friday as it consolidates
above the previous reaction high crossing at 111.00. The
high-range close sets the stage for a steady to higher
opening on Monday. If March extends this winter's rally, a
test of the 62% retracement level of the 1989-2001 decline
crossing at 118.69 is possible later this winter. The daily
ADX (a trend-following indicator) is bullish and rising
signaling that sideways to higher prices are possible near-
term. Closes below last week's low crossing at 106.70 would
confirm that a top has likely been posted.
More at http://quotes.ino.com/exchanges/?c=metals
FOOD & FIBER
March coffee posted an inside day with a lower close on
Friday as it consolidates around last September's high
crossing at 75.00. The mid-range close sets the stage for a
steady opening on Monday. If March extends this winter's
rally, the 38% retracement level of the 1999-2001 decline on
the weekly chart crossing at 81.04 is the next upside target
later this winter. Stochastics and the RSI are overbought
but remain bullish hinting that additional gains are
possible near-term. Closes below the 10-day moving average
crossing at 71.80 would confirm that a short-term top has
been posted.
March cocoa closed lower due to profit taking on Friday and
filled yesterday's gap crossing at 1635. The low-range close
sets the stage for a steady to lower opening on Monday. If
March renews last week's rally, a test of August's high
crossing at 1737 is the next upside target. Closes below
Tuesday's low crossing at 1580 would confirm that a short-
term top has been posted while opening the door for a
larger-degree decline into the end of January. Stochastics
and the RSI have turning neutral as it awaits direction from
the market.
March sugar closed lower due to profit taking on Friday as
it consolidates below the 10-day moving average crossing at
585 and this winter's downtrend line. Closes above these
resistance levels are needed to confirm a bottom and signal
a short-term trend change has taken place. Closes below last
week's low at 563 would renew the decline off December's
high and set the stage for a test of long-term support
crossing at 551 later this winter. Stochastics and the RSI
are turning neutral hinting that a short-term trend change
is taking place.
March cotton closed slightly higher on Friday and the high-
range close sets the stage for a steady to firmer opening on
Monday as a test of the 50% retracement level of last fall's
decline crossing at 76.55 is the next upside target. Closes
below last week's low at 72.30 would confirm a top while
opening the door for a larger-degree setback into the end of
January. Stochastics and the RSI have turned bullish
signaling that sideways to higher prices are possible near-
term.
More at http://quotes.ino.com/exchanges/?c=food
GRAINS & SOYBEAN COMPLEX
March corn closed higher on Friday as it extends last
Friday's breakout above weekly resistance marked by the 62%
retracement level of the 2002-03 crossing at 2.70. Today's
mid-range close sets the stage for a steady opening on
Monday. If March extends its rally off December's low, a
test of the 75% retracement level of the 2002-03 crossing at
2.82 is possible later this winter. The daily ADX (a trend-
following indicator) is bullish and rising signaling that
sideways to higher prices are possible near-term. Closes
below the 10-day moving average crossing at 2.70 would be a
warning sign to bulls that a short-term top might be in or
is near.
March wheat closed lower for the fourth day in a row despite
a strong weekly export sales report, which showed net sales
of 39.7 million bullish. Technical selling continues to
dominate March wheat, which led to a test of gap support
beginning at 3.80 1/2. The low-range close sets the stage
for a steady to lower opening on Monday as today's breakout
below last Friday's low crossing at 3.82 1/2 has open the
door for a test of gap support crossing at 3.77 3/4 later
this month. Stochastics and the RSI are bearish signaling
that sideways to lower prices are possible near-term. Closes
above this month's high crossing at 4.07 are needed to renew
March's rally off December's low and would set the stage for
a possible test of the contract high crossing at 4.21 1/2
later this winter.
March Kansas City Wheat closed lower on Friday and tested
gap support crossing at 3.87. A short covering bounce ahead
of the close tempered some of today's loss and allowed March
to close just above last week's low crossing at 3.90 3/4.
The mid-range close sets the stage for a steady opening on
Monday. Closes below today's low crossing at 3.87 could lead
to a test of gap support crossing at 3.85 later this month.
Stochastics and the RSI are bearish signaling that sideways
to lower prices are possible near-term. Closes above the
contract high crossing at 4.16 are needed to renew last
fall's rally.
SOYBEAN COMPLEX
March soybeans posted a key reversal down due to profit
taking ahead of the close on Friday. Early strength was tied
to rumors that Canada might soon announce a ban on the use
of meat and bone meal in all livestock feed. The low-range
close sets the stage for a steady to lower opening on
Monday. Today's spike above monthly resistance crossing at
8.45 3/4 keeps the rally off December's low intact for now.
Closes above this resistance level would renew last week's
rally and could lead to an eventual test of the 1997 high on
the weekly March soybean chart crossing at 8.62 later this
winter. The daily ADX (a trend-following indicator) is in a
bullish mode signaling that sideways to higher prices are
possible near-term. Closes below last Monday's low crossing
at 8.17 would temper the near-term friendly outlook in the
market.
March soybean meal closed slightly higher on Friday amidst
rumors of a possible ban on meat and bone meal by Canada.
Profit taking ahead of the close tempered some of today's
gains but not before March closed above long-term resistance
crossing at 264.10. If the rally continues, a test of the
August 1983 high crossing at 267 is possible later this
month. The low-range close sets the stage for a steady to
lower opening on Monday. Stochastics, RSI and the daily ADX
(a trend-following indicator) are bullish signaling that
sideways to higher prices are possible near-term. Support
begins with the 10-day moving average crossing at 256.60.
March soybean oil closed higher due to short covering on
Friday but remains below broken support marked by the 10-day
moving average crossing at 29.54. Profit taking ahead of the
close tempered today's rebound and the mid-range close sets
the stage for a steady opening on Monday. Closes below
Wednesday's low crossing at 28.98 would open the door for a
test of last Monday's gap crossing at 28.56, which coincides
with the 20-day moving average at 28.61. If March resumes
last week's rally, a test of the January 1994 high crossing
at 30.75 and possibly the May 1994 high crossing at 30.82
are possible later this winter. Stochastics and the RSI have
turned bearish signaling that sideways to lower prices are
possible near-term.
More at http://quotes.ino.com/exchanges/?c=grains
LIVESTOCK and MEATS
February hogs posted an inside day with a lower close on
Monday thereby confirming yesterday's key reversal down.
Today's mid-range close sets the stage for a steady opening
on Monday. Additional weakness on Monday would increase the
odds that a double top with the early-January high was
posted with Thursday's high. Closes above 56.10 would open
the door for a possible test of the December high crossing
at 57.00 later this winter. Stochastics and the RSI are
bullish but diverging, which is often a precursor to a top
and trend change.
February bellies posted an inside day with a higher close
due to short covering on Friday. The mid-range close sets
the stage for a steady opening on Monday. If February
extends last week's decline, a test of the 75% retracement
level of the August-October rally crossing at 80.41 is
possible later this winter. Stochastics and the RSI are
bearish signaling that sideways to lower prices are possible
near-term. Closes above the 20-day moving average crossing
at 84.64 would signal that a low has likely been posted.
February cattle closed near limit down due to profit taking
on Friday while confirming yesterday's downside reversal.
The low-range close sets the stage for a steady to lower
opening on Monday. Stochastics and the RSI are bullish
signaling that sideways to higher prices are still possible
near-term. Closes above the 50% retracement level crossing
at 83.06 would open the door for a possible test of the 40-
day moving average crossing at 84.46 later this winter.
Closes below Tuesday's low at 79.30 would temper the near-
term friendly outlook in the market.
March Feeder cattle closed lower due to profit taking on
Friday and below this month's uptrend line and the 10-day
moving average crossing at 84.37. The low-range close sets
the stage for a steady to lower opening on Monday, as
additional weakness is possible near-term. Stochastics and
the RSI are bullish but becoming overbought hinting that a
short-term top might be in or is near. If March resumes its
rally off December's low, a test of the 50% retracement
level crossing at 87.48 is possible later this month.
More at http://quotes.ino.com/exchanges/?c=livestock
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__________________________________________________ __________________________
E X T R E M E F U T U R E S
__________________________________________________ __________________________
Updated every 10 minutes around the clock.
More at http://quotes.ino.com/analysis/extremes/futures/
WINNERS
NGG4 Henry Hub Natural Gas Feb 2004 6.059 0.256 +4.39
DBV4 Butter Oct 2004 155.000 4.000 +2.58
FFY Federal Funds 30day Cash 1.0200 0.0200 +2.00
PNH4 Propane Mar 2004 0.6300 0.0100 +1.61
PLF4 Platinum Jan 2004 876.5 10.3 +1.18
VLK4 Soybean Oil (a/c/e) May 2004 29.19 0.33 +1.14
LHV4 Lean Hogs Oct 2004 52.550 0.550 +1.06
YCH5 Mini Corn Mar 2005 277 2 3/4 +1.00
CH5 Corn Mar 2005 277 2 3/4 +1.00
DXY0 Dollar Index Cash 86.63 0.81 +0.93
LOSERS
PAM4 Palladium Jun 2004 243.90 -18.35 -7.19
CCK4 Cocoa May 2004 1599 -69 -4.15
LBK4 Random Length Lumber May 2004 347.50 -10.00 -2.80
KWN4 Wheat Jul 2004 384 1/2 -8 -2.04
HUG4 NY Harbor Unleaded Gasoline Feb 2004 1.0365 -0.0209 -1.98
KCH5 Coffee 'C' Mar 2005 84.05 -1.60 -1.89
LCG4 Live Cattle Feb 2004 80.175 -1.500 -1.84
CDU4 Canadian Dollar Sep 2004 0.75390 -0.01380 -1.80
MQM4 Mexican Peso Jun 2004 11.0711 -0.1997 -1.77
MWK4 Hard Red Spring Wheat May 2004 398 1/4 -6 -1.49
Short Term Trend Direction Forecasts For 43 Commodity Markets.
Projects the next day's highs and lows and whether the market
is expected to make a top or bottom over the next two days
with up to 80% accuracy.
http://www.ino.com/specials/348D8/mk...tagepoint.html
__________________________________________________ __________________________
E X T R E M E S T O C K S
__________________________________________________ __________________________
Updated every 10 minutes around the clock.
More at http://quotes.ino.com/analysis/extremes/stocks/
WINNERS
GAIT Langer Inc 5.8380 2.3380 +66.80
RADN Radyne ComStream 9.7800 2.6000 +36.21
ANDR Andersen Group 6.1200 1.1300 +22.65
SYNA Synaptics Inc 19.7000 3.5000 +21.60
CPWR Compuware Corp 8.2900 1.4600 +21.41
CKCM Click Commerce 7.7500 1.3600 +21.28
MSCC Microsemi Corp 32.5400 5.5800 +20.70
ANLT Analytical Surveys 5.5000 0.8990 +19.54
SUNN Suntron Corp 5.8700 0.9000 +18.11
HYSL Hyperion Solutions 36.2000 5.3900 +17.50
LOSERS
VYYO Vyyo Inc 7.6200 -1.9800 -20.62
CALD Callidus Software 16.1000 -3.8900 -19.53
NAFC Nash Finch Co 24.5000 -3.8020 -13.43
TSEM Tower Semiconductor 6.9900 -0.9000 -11.41
VC Visteon Corp 11.0300 -1.3200 -10.69
GMCR Green Mountain Coffee Roasters 21.4000 -2.5500 -10.65
JCOM j2 Global Communications 22.5800 -2.6700 -10.57
SGG SGL Carbon AG ADS 6.8500 -0.7200 -9.51
LRCX Lam Research 29.0600 -2.9600 -9.24
DOCX Document Sciences 5.2300 -0.5200 -9.04
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