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Factor Status Report, Ferbruary 28, 2011

Factor Status Report, Ferbruary 28, 2011

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Published by Philip Pearlman

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Published by: Philip Pearlman on Feb 26, 2011
Copyright:Attribution Non-commercial


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 Factor Status Report, February 28, 2011
Major Completed Patterns with Ongoing Trends
 Trends based on the completion of major chart patterns are ongoing in USD/CHF, Corn, and COW (ETF).A major pattern was negated in Sugar. A major pattern was completed and negated in Soybeans. A major pattern was completed and the target was quickly met in Crude Oil. I will comment on the Crude Oil chartbecause an opportunity exists to repurchase to reenter the market.     Market Pattern(s) Date completed Target(s)
Corn 14-week continuation invertedH&S1/13 at 6.45 7.48CommentaryI was prematurely stopped out of Corn during the huge break on Wednesday, but at the risk of beingwhipsawed I reclaimed my long position on the close realizing the break was only a retest of the necklineof the underlying H&S bottom. The target of 7.48 should be met within the next week or two.The Factor is long.         
    Market Pattern(s) Completion date Target(s)USD/CHF (spot) 28-month descendingtriangle on weekly chart8-week rectangle9/22 at .9862 2/23 at .9294.8100 .8881CommentaryThe decline on Feb. 23 completed an 8-week continuation rectangle or flag pattern on the daily chart. Thispattern has a target of .8881. The market is over-sold short term, and some retesting of the rectangle isquite possible. The weekly chart has a target of .8100.Factor is short.    
    Market Pattern(s) Date completed Target(s)COW (etf) 10-month rectangle 1/27 at 31.19 34.11 and 36.50CommentaryThe market remains in a trading range above the iceline. The trade should work as long as the Feb. low isnot decisively penetrated. The daily chart displays the stop movement from the Last Day Rule (30.82) tothe Retest low (31.15).The Factor is long in an IRA account.   

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