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MRCI's ScenarioSM Summary

Copyright © 2003 Moore Research Center, Inc. All Rights Reserved.
Some data provided by Prophetfinance.com
ScenarioSM Summary Dec 31, 2003
Historical Data Scenario Data Current Market Data

Mkt
Cond
Month		 Prev
Close		 Month
High		 Month
Low		 Month
Close		 Pct
Range		 Total
Years		 Cond
Years		 Action
Years
Pct		 Scenario
Objective		 Average
Objective		 Last
Price
#DJ Higher Dec 9782.00 10462.00 9785.00 10454.00 99% 45 32 30 94% 10462.00 11039.77 10454.00
#TRAN Higher Dec 2921.20 3038.10 2893.90 3007.10 79% 33 23 22 96% 3038.10 3343.65 3007.10
#OEX Higher Dec 520.75 550.90 521.55 550.80 100% 20 14 14 100% 550.90 583.75 550.80
#NDX Higher Dec 1424.30 1474.20 1372.90 1467.90 94% 17 8 8 100% 1474.20 1626.24 1467.90
#COMPX Higher Dec 1960.30 2010.10 1887.50 2009.90 100% 8 3 3 100% Yes 2233.21 2009.90
#RUT Higher Dec 546.51 566.74 526.42 556.91 76% 24 19 19 100% 566.74 607.91 556.91
#MID Higher Dec 567.00 581.92 552.96 576.01 80% 22 16 15 94% 581.92 613.60 576.01
#VLE Higher Dec 1473.10 1540.40 1442.60 1540.40 100% 20 17 17 100% Yes 1638.34 1540.40
#SSNI Higher Dec 10101 10681 9859 10677 100% 21 13 11 85% Yes 11339 10677
#SP Higher Dec 1058.20 1112.55 1053.40 1111.90 99% 45 34 30 88% 1112.55 1166.20 1111.90
SPH4 Higher Dec 1056.40 1111.50 1051.80 1110.60 98% 21 16 16 100% 1111.50 1170.86 1110.60
NDH4 Higher Dec 1428.50 1477.00 1376.00 1471.00 94% 7 2 2 100% 1477.00 1696.74 1471.00
USH4 Higher Dec 107~27 111~11 106~16 109~10 58% 26 15 15 100% 111~11 115~05 109~10
TYH4 Higher Dec 110~285 113~070 109~255 112~085 72% 21 13 12 92% 113~070 116~152 112~085
EDH4 Higher Dec 98.620 98.785 98.575 98.775 95% 21 13 12 92% 98.785 99.219 98.775
EDM4 Higher Dec 98.255 98.605 98.180 98.570 92% 21 14 14 100% 98.605 99.128 98.570
EDU4 Higher Dec 97.835 98.295 97.730 98.245 91% 21 14 14 100% 98.295 98.882 98.245
CDH4 Higher Dec 76.74 77.65 74.20 76.94 79% 27 13 11 85% 77.65 78.73 76.94
GCJ4 Higher Dec 398.9 419.7 399.0 417.2 88% 28 13 11 85% 419.7 453.4 417.2
PAH4 Higher Dec 190.75 215.00 187.00 197.50 38% 26 14 12 86% 215.00 259.46 197.50
PAM4 Higher Jun 191.50 216.50 190.00 198.10 31% 25 13 11 85% 216.50 268.70 198.10
HGH4 Higher Dec 91.40 105.10 94.50 104.55 95% 44 26 22 85% 105.10 116.54 104.55
HGK4 Higher Dec 91.35 104.60 94.60 104.15 96% 44 24 23 96% 104.60 113.85 104.15
CLJ4 Higher Dec 29.45 32.70 28.95 31.83 77% 20 9 9 100% 32.70 35.98 31.83
CLK4 Higher Dec 29.06 32.02 28.70 31.30 78% 20 8 8 100% 32.02 35.06 31.30
CLM4 Higher Dec 28.68 31.45 28.25 30.79 79% 20 8 8 100% 31.45 34.21 30.79
HOJ4 Higher Dec 79.32 89.22 78.40 85.86 69% 24 12 11 92% 89.22 96.19 85.86
HOK4 Higher Dec 76.32 84.92 75.72 82.06 69% 24 10 9 90% 84.92 91.37 82.06
HUJ4 Higher Dec 91.19 100.90 89.89 98.24 76% 18 9 9 100% 100.90 110.22 98.24
HUK4 Higher Dec 90.84 99.25 89.30 97.44 82% 18 9 9 100% 99.25 108.82 97.44
HUM4 Higher Dec 89.54 97.40 88.00 95.59 81% 18 10 10 100% 97.40 105.24 95.59
NGJ4 Higher Dec 4.602 5.550 4.670 5.277 69% 13 4 4 100% 5.550 6.508 5.277
NGK4 Higher Dec 4.572 5.330 4.600 5.112 70% 13 4 4 100% 5.330 6.213 5.112
NGM4 Higher Dec 4.590 5.320 4.620 5.112 70% 13 4 4 100% 5.320 6.130 5.112
SH4 Higher Dec 754.00 802.25 733.00 794.00 88% 44 19 16 84% 802.25 850.53 794.00
KWN4 Lower Dec 372.50 384.50 350.00 369.25 56% 27 16 14 88% 350.00 336.66 369.25
JOH4 Lower Dec 71.90 74.30 63.60 64.10 5% 36 25 23 92% 63.60 56.92 64.10
JOK4 Lower Dec 74.25 76.80 66.50 67.15 6% 36 25 23 92% 66.50 59.39 67.15
JON4 Lower Dec 76.95 78.85 69.25 69.65 4% 36 23 21 91% 69.25 62.14 69.65
SBN4 Lower Dec 6.15 6.43 5.82 5.83 2% 42 22 19 86% 5.82 5.02 5.83
LBH4 Higher Dec 322.7 329.9 293.4 326.5 91% 30 20 17 85% 329.9 363.6 326.5
LBK4 Higher Dec 326.2 334.9 302.2 329.7 84% 30 20 19 95% 334.9 363.2 329.7


DJIA Index
The #DJ(Mkt) ended Higher(Cond) for December(Month). Compared to November's 9782.00(Prev Close), the market ended December at (Month Close), that being 99%(Pct Range) off of 9785.00(Month Low) to 10462.00(Month High).

In comparing the November/December closes for each of the last 45 years(Total Years), Scenario found that the DJIA Index also closed higher in December than November in 32(Cond Years) of those years. Of those 32, the #DJ went on to exceed the December high within the next 2 months in 30 years(Action Years) or 94%(Pct) of the time.

Therefore, the historical odds are high that the the #DJ should exceed 10462.00(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 30 years) a potential move toward 11039.77(Average Objective).

Dow Jones Transportation
The #TRAN(Mkt) ended Higher(Cond) for December(Month). Compared to November's 2921.20(Prev Close), the market ended December at (Month Close), that being 79%(Pct Range) off of 2893.90(Month Low) to 3038.10(Month High).

In comparing the November/December closes for each of the last 33 years(Total Years), Scenario found that the Dow Jones Transportation also closed higher in December than November in 23(Cond Years) of those years. Of those 23, the #TRAN went on to exceed the December high within the next 2 months in 22 years(Action Years) or 96%(Pct) of the time.

Therefore, the historical odds are high that the the #TRAN should exceed 3038.10(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 22 years) a potential move toward 3343.65(Average Objective).

S & P 100(OEX)
The #OEX(Mkt) ended Higher(Cond) for December(Month). Compared to November's 520.75(Prev Close), the market ended December at (Month Close), that being 100%(Pct Range) off of 521.55(Month Low) to 550.90(Month High).

In comparing the November/December closes for each of the last 20 years(Total Years), Scenario found that the S & P 100(OEX) also closed higher in December than November in 14(Cond Years) of those years. Of those 14, the #OEX went on to exceed the December high within the next 2 months in 14 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the the #OEX should exceed 550.90(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 14 years) a potential move toward 583.75(Average Objective).

NASDAQ 100 Index
The #NDX(Mkt) ended Higher(Cond) for December(Month). Compared to November's 1424.30(Prev Close), the market ended December at (Month Close), that being 94%(Pct Range) off of 1372.90(Month Low) to 1474.20(Month High).

In comparing the November/December closes for each of the last 17 years(Total Years), Scenario found that the NASDAQ 100 Index also closed higher in December than November in 8(Cond Years) of those years. Of those 8, the #NDX went on to exceed the December high within the next 2 months in 8 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the the #NDX should exceed 1474.20(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 8 years) a potential move toward 1626.24(Average Objective).

NASDAQ Composite Index
The #COMPX(Mkt) ended Higher(Cond) for December(Month). Compared to November's 1960.30(Prev Close), the market ended December at (Month Close), that being 100%(Pct Range) off of 1887.50(Month Low) to 2010.10(Month High).

In comparing the November/December closes for each of the last 8 years(Total Years), Scenario found that the NASDAQ Composite Index also closed higher in December than November in 3(Cond Years) of those years. Of those 3, the #COMPX went on to exceed the December high within the next 2 months in 3 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the the #COMPX should exceed 2010.10(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 3 years) a potential move toward 2233.21(Average Objective).

Russell 2000 Index
The #RUT(Mkt) ended Higher(Cond) for December(Month). Compared to November's 546.51(Prev Close), the market ended December at (Month Close), that being 76%(Pct Range) off of 526.42(Month Low) to 566.74(Month High).

In comparing the November/December closes for each of the last 24 years(Total Years), Scenario found that the Russell 2000 Index also closed higher in December than November in 19(Cond Years) of those years. Of those 19, the #RUT went on to exceed the December high within the next 2 months in 19 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the the #RUT should exceed 566.74(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 19 years) a potential move toward 607.91(Average Objective).

S & P Midcap 400 Index
The #MID(Mkt) ended Higher(Cond) for December(Month). Compared to November's 567.00(Prev Close), the market ended December at (Month Close), that being 80%(Pct Range) off of 552.96(Month Low) to 581.92(Month High).

In comparing the November/December closes for each of the last 22 years(Total Years), Scenario found that the S & P Midcap 400 Index also closed higher in December than November in 16(Cond Years) of those years. Of those 16, the #MID went on to exceed the December high within the next 2 months in 15 years(Action Years) or 94%(Pct) of the time.

Therefore, the historical odds are high that the the #MID should exceed 581.92(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 15 years) a potential move toward 613.60(Average Objective).

Value Line Index
The #VLE(Mkt) ended Higher(Cond) for December(Month). Compared to November's 1473.10(Prev Close), the market ended December at (Month Close), that being 100%(Pct Range) off of 1442.60(Month Low) to 1540.40(Month High).

In comparing the November/December closes for each of the last 20 years(Total Years), Scenario found that the Value Line Index also closed higher in December than November in 17(Cond Years) of those years. Of those 17, the #VLE went on to exceed the December high within the next 2 months in 17 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the the #VLE should exceed 1540.40(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 17 years) a potential move toward 1638.34(Average Objective).

Nikkei 225 Index
The #SSNI(Mkt) ended Higher(Cond) for December(Month). Compared to November's 10101(Prev Close), the market ended December at (Month Close), that being 100%(Pct Range) off of 9859(Month Low) to 10681(Month High).

In comparing the November/December closes for each of the last 21 years(Total Years), Scenario found that the Nikkei 225 Index also closed higher in December than November in 13(Cond Years) of those years. Of those 13, the #SSNI went on to exceed the December high within the next 2 months in 11 years(Action Years) or 85%(Pct) of the time.

Therefore, the historical odds are high that the the #SSNI should exceed 10681(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 11 years) a potential move toward 11339(Average Objective).

S & P 500 Stock Index
The #SP(Mkt) ended Higher(Cond) for December(Month). Compared to November's 1058.20(Prev Close), the market ended December at (Month Close), that being 99%(Pct Range) off of 1053.40(Month Low) to 1112.55(Month High).

In comparing the November/December closes for each of the last 45 years(Total Years), Scenario found that the S & P 500 Stock Index also closed higher in December than November in 34(Cond Years) of those years. Of those 34, the #SP went on to exceed the December high within the next 2 months in 30 years(Action Years) or 88%(Pct) of the time.

Therefore, the historical odds are high that the the #SP should exceed 1112.55(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 30 years) a potential move toward 1166.20(Average Objective).

March S & P 500(CME)
The SPH4(Mkt) ended Higher(Cond) for December(Month). Compared to November's 1056.40(Prev Close), the market ended December at (Month Close), that being 98%(Pct Range) off of 1051.80(Month Low) to 1111.50(Month High).

In comparing the November/December closes for each of the last 21 years(Total Years), Scenario found that the March S & P 500(CME) also closed higher in December than November in 16(Cond Years) of those years. Of those 16, SPH went on to exceed the December high within the next 2 months in 16 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the SPH should exceed 1111.50(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 16 years) a potential move toward 1170.86(Average Objective).

March NASDAQ 100(CME)
The NDH4(Mkt) ended Higher(Cond) for December(Month). Compared to November's 1428.50(Prev Close), the market ended December at (Month Close), that being 94%(Pct Range) off of 1376.00(Month Low) to 1477.00(Month High).

In comparing the November/December closes for each of the last 7 years(Total Years), Scenario found that the March NASDAQ 100(CME) also closed higher in December than November in 2(Cond Years) of those years. Of those 2, NDH went on to exceed the December high within the next 2 months in 2 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the NDH should exceed 1477.00(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 2 years) a potential move toward 1696.74(Average Objective).

March 30-Year T-Bonds(CBOT)
The USH4(Mkt) ended Higher(Cond) for December(Month). Compared to November's 107~27(Prev Close), the market ended December at (Month Close), that being 58%(Pct Range) off of 106~16(Month Low) to 111~11(Month High).

In comparing the November/December closes for each of the last 26 years(Total Years), Scenario found that the March 30-Year T-Bonds(CBOT) also closed higher in December than November in 15(Cond Years) of those years. Of those 15, USH went on to exceed the December high within the next 2 months in 15 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the USH should exceed 111~11(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 15 years) a potential move toward 115~05(Average Objective).

March 10-Year T-Notes(CBOT)
The TYH4(Mkt) ended Higher(Cond) for December(Month). Compared to November's 110~285(Prev Close), the market ended December at (Month Close), that being 72%(Pct Range) off of 109~255(Month Low) to 113~070(Month High).

In comparing the November/December closes for each of the last 21 years(Total Years), Scenario found that the March 10-Year T-Notes(CBOT) also closed higher in December than November in 13(Cond Years) of those years. Of those 13, TYH went on to exceed the December high within the next 2 months in 12 years(Action Years) or 92%(Pct) of the time.

Therefore, the historical odds are high that the TYH should exceed 113~070(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 12 years) a potential move toward 116~152(Average Objective).

March Eurodollars(CME)
The EDH4(Mkt) ended Higher(Cond) for December(Month). Compared to November's 98.620(Prev Close), the market ended December at (Month Close), that being 95%(Pct Range) off of 98.575(Month Low) to 98.785(Month High).

In comparing the November/December closes for each of the last 21 years(Total Years), Scenario found that the March Eurodollars(CME) also closed higher in December than November in 13(Cond Years) of those years. Of those 13, EDH went on to exceed the December high within the next 2 months in 12 years(Action Years) or 92%(Pct) of the time.

Therefore, the historical odds are high that the EDH should exceed 98.785(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 12 years) a potential move toward 99.219(Average Objective).

June Eurodollars(CME)
The EDM4(Mkt) ended Higher(Cond) for December(Month). Compared to November's 98.255(Prev Close), the market ended December at (Month Close), that being 92%(Pct Range) off of 98.180(Month Low) to 98.605(Month High).

In comparing the November/December closes for each of the last 21 years(Total Years), Scenario found that the June Eurodollars(CME) also closed higher in December than November in 14(Cond Years) of those years. Of those 14, EDM went on to exceed the December high within the next 2 months in 14 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the EDM should exceed 98.605(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 14 years) a potential move toward 99.128(Average Objective).

September Eurodollars(CME)
The EDU4(Mkt) ended Higher(Cond) for December(Month). Compared to November's 97.835(Prev Close), the market ended December at (Month Close), that being 91%(Pct Range) off of 97.730(Month Low) to 98.295(Month High).

In comparing the November/December closes for each of the last 21 years(Total Years), Scenario found that the September Eurodollars(CME) also closed higher in December than November in 14(Cond Years) of those years. Of those 14, EDU went on to exceed the December high within the next 2 months in 14 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the EDU should exceed 98.295(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 14 years) a potential move toward 98.882(Average Objective).

March Canadian Dollar(CME)
The CDH4(Mkt) ended Higher(Cond) for December(Month). Compared to November's 76.74(Prev Close), the market ended December at (Month Close), that being 79%(Pct Range) off of 74.20(Month Low) to 77.65(Month High).

In comparing the November/December closes for each of the last 27 years(Total Years), Scenario found that the March Canadian Dollar(CME) also closed higher in December than November in 13(Cond Years) of those years. Of those 13, CDH went on to exceed the December high within the next 2 months in 11 years(Action Years) or 85%(Pct) of the time.

Therefore, the historical odds are high that the CDH should exceed 77.65(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 11 years) a potential move toward 78.73(Average Objective).

April Gold(CMX)
The GCJ4(Mkt) ended Higher(Cond) for December(Month). Compared to November's 398.9(Prev Close), the market ended December at (Month Close), that being 88%(Pct Range) off of 399.0(Month Low) to 419.7(Month High).

In comparing the November/December closes for each of the last 28 years(Total Years), Scenario found that the April Gold(CMX) also closed higher in December than November in 13(Cond Years) of those years. Of those 13, GCJ went on to exceed the December high within the next 2 months in 11 years(Action Years) or 85%(Pct) of the time.

Therefore, the historical odds are high that the GCJ should exceed 419.7(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 11 years) a potential move toward 453.4(Average Objective).

March Palladium(NYME)
The PAH4(Mkt) ended Higher(Cond) for December(Month). Compared to November's 190.75(Prev Close), the market ended December at (Month Close), that being 38%(Pct Range) off of 187.00(Month Low) to 215.00(Month High).

In comparing the November/December closes for each of the last 26 years(Total Years), Scenario found that the March Palladium(NYME) also closed higher in December than November in 14(Cond Years) of those years. Of those 14, PAH went on to exceed the December high within the next 2 months in 12 years(Action Years) or 86%(Pct) of the time.

Therefore, the historical odds are high that the PAH should exceed 215.00(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 12 years) a potential move toward 259.46(Average Objective).

June Palladium(NYME)
The PAM4(Mkt) ended Higher(Cond) for June(Month). Compared to May's 191.50(Prev Close), the market ended June at (Month Close), that being 31%(Pct Range) off of 190.00(Month Low) to 216.50(Month High).

In comparing the May/June closes for each of the last 25 years(Total Years), Scenario found that the June Palladium(NYME) also closed higher in June than May in 13(Cond Years) of those years. Of those 13, PAM went on to exceed the June high within the next 2 months in 11 years(Action Years) or 85%(Pct) of the time.

Therefore, the historical odds are high that the PAM should exceed 216.50(Scenario Objective) by no later than the end of August. If it does so, Scenario would further project (based on normalizing those previous 11 years) a potential move toward 268.70(Average Objective).

March Copper(CMX)
The HGH4(Mkt) ended Higher(Cond) for December(Month). Compared to November's 91.40(Prev Close), the market ended December at (Month Close), that being 95%(Pct Range) off of 94.50(Month Low) to 105.10(Month High).

In comparing the November/December closes for each of the last 44 years(Total Years), Scenario found that the March Copper(CMX) also closed higher in December than November in 26(Cond Years) of those years. Of those 26, HGH went on to exceed the December high within the next 2 months in 22 years(Action Years) or 85%(Pct) of the time.

Therefore, the historical odds are high that the HGH should exceed 105.10(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 22 years) a potential move toward 116.54(Average Objective).

May Copper(CMX)
The HGK4(Mkt) ended Higher(Cond) for December(Month). Compared to November's 91.35(Prev Close), the market ended December at (Month Close), that being 96%(Pct Range) off of 94.60(Month Low) to 104.60(Month High).

In comparing the November/December closes for each of the last 44 years(Total Years), Scenario found that the May Copper(CMX) also closed higher in December than November in 24(Cond Years) of those years. Of those 24, HGK went on to exceed the December high within the next 2 months in 23 years(Action Years) or 96%(Pct) of the time.

Therefore, the historical odds are high that the HGK should exceed 104.60(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 23 years) a potential move toward 113.85(Average Objective).

April Crude Oil(NYM)
The CLJ4(Mkt) ended Higher(Cond) for December(Month). Compared to November's 29.45(Prev Close), the market ended December at (Month Close), that being 77%(Pct Range) off of 28.95(Month Low) to 32.70(Month High).

In comparing the November/December closes for each of the last 20 years(Total Years), Scenario found that the April Crude Oil(NYM) also closed higher in December than November in 9(Cond Years) of those years. Of those 9, CLJ went on to exceed the December high within the next 2 months in 9 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the CLJ should exceed 32.70(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 9 years) a potential move toward 35.98(Average Objective).

May Crude Oil(NYM)
The CLK4(Mkt) ended Higher(Cond) for December(Month). Compared to November's 29.06(Prev Close), the market ended December at (Month Close), that being 78%(Pct Range) off of 28.70(Month Low) to 32.02(Month High).

In comparing the November/December closes for each of the last 20 years(Total Years), Scenario found that the May Crude Oil(NYM) also closed higher in December than November in 8(Cond Years) of those years. Of those 8, CLK went on to exceed the December high within the next 2 months in 8 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the CLK should exceed 32.02(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 8 years) a potential move toward 35.06(Average Objective).

June Crude Oil(NYM)
The CLM4(Mkt) ended Higher(Cond) for December(Month). Compared to November's 28.68(Prev Close), the market ended December at (Month Close), that being 79%(Pct Range) off of 28.25(Month Low) to 31.45(Month High).

In comparing the November/December closes for each of the last 20 years(Total Years), Scenario found that the June Crude Oil(NYM) also closed higher in December than November in 8(Cond Years) of those years. Of those 8, CLM went on to exceed the December high within the next 2 months in 8 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the CLM should exceed 31.45(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 8 years) a potential move toward 34.21(Average Objective).

April Heating Oil(NYM)
The HOJ4(Mkt) ended Higher(Cond) for December(Month). Compared to November's 79.32(Prev Close), the market ended December at (Month Close), that being 69%(Pct Range) off of 78.40(Month Low) to 89.22(Month High).

In comparing the November/December closes for each of the last 24 years(Total Years), Scenario found that the April Heating Oil(NYM) also closed higher in December than November in 12(Cond Years) of those years. Of those 12, HOJ went on to exceed the December high within the next 2 months in 11 years(Action Years) or 92%(Pct) of the time.

Therefore, the historical odds are high that the HOJ should exceed 89.22(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 11 years) a potential move toward 96.19(Average Objective).

May Heating Oil(NYM)
The HOK4(Mkt) ended Higher(Cond) for December(Month). Compared to November's 76.32(Prev Close), the market ended December at (Month Close), that being 69%(Pct Range) off of 75.72(Month Low) to 84.92(Month High).

In comparing the November/December closes for each of the last 24 years(Total Years), Scenario found that the May Heating Oil(NYM) also closed higher in December than November in 10(Cond Years) of those years. Of those 10, HOK went on to exceed the December high within the next 2 months in 9 years(Action Years) or 90%(Pct) of the time.

Therefore, the historical odds are high that the HOK should exceed 84.92(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 9 years) a potential move toward 91.37(Average Objective).

April Unleaded Gas(NYM)
The HUJ4(Mkt) ended Higher(Cond) for December(Month). Compared to November's 91.19(Prev Close), the market ended December at (Month Close), that being 76%(Pct Range) off of 89.89(Month Low) to 100.90(Month High).

In comparing the November/December closes for each of the last 18 years(Total Years), Scenario found that the April Unleaded Gas(NYM) also closed higher in December than November in 9(Cond Years) of those years. Of those 9, HUJ went on to exceed the December high within the next 2 months in 9 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the HUJ should exceed 100.90(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 9 years) a potential move toward 110.22(Average Objective).

May Unleaded Gas(NYM)
The HUK4(Mkt) ended Higher(Cond) for December(Month). Compared to November's 90.84(Prev Close), the market ended December at (Month Close), that being 82%(Pct Range) off of 89.30(Month Low) to 99.25(Month High).

In comparing the November/December closes for each of the last 18 years(Total Years), Scenario found that the May Unleaded Gas(NYM) also closed higher in December than November in 9(Cond Years) of those years. Of those 9, HUK went on to exceed the December high within the next 2 months in 9 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the HUK should exceed 99.25(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 9 years) a potential move toward 108.82(Average Objective).

June Unleaded Gas(NYM)
The HUM4(Mkt) ended Higher(Cond) for December(Month). Compared to November's 89.54(Prev Close), the market ended December at (Month Close), that being 81%(Pct Range) off of 88.00(Month Low) to 97.40(Month High).

In comparing the November/December closes for each of the last 18 years(Total Years), Scenario found that the June Unleaded Gas(NYM) also closed higher in December than November in 10(Cond Years) of those years. Of those 10, HUM went on to exceed the December high within the next 2 months in 10 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the HUM should exceed 97.40(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 10 years) a potential move toward 105.24(Average Objective).

April Natural Gas(NYM)
The NGJ4(Mkt) ended Higher(Cond) for December(Month). Compared to November's 4.602(Prev Close), the market ended December at (Month Close), that being 69%(Pct Range) off of 4.670(Month Low) to 5.550(Month High).

In comparing the November/December closes for each of the last 13 years(Total Years), Scenario found that the April Natural Gas(NYM) also closed higher in December than November in 4(Cond Years) of those years. Of those 4, NGJ went on to exceed the December high within the next 2 months in 4 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the NGJ should exceed 5.550(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 4 years) a potential move toward 6.508(Average Objective).

May Natural Gas(NYM)
The NGK4(Mkt) ended Higher(Cond) for December(Month). Compared to November's 4.572(Prev Close), the market ended December at (Month Close), that being 70%(Pct Range) off of 4.600(Month Low) to 5.330(Month High).

In comparing the November/December closes for each of the last 13 years(Total Years), Scenario found that the May Natural Gas(NYM) also closed higher in December than November in 4(Cond Years) of those years. Of those 4, NGK went on to exceed the December high within the next 2 months in 4 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the NGK should exceed 5.330(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 4 years) a potential move toward 6.213(Average Objective).

June Natural Gas(NYM)
The NGM4(Mkt) ended Higher(Cond) for December(Month). Compared to November's 4.590(Prev Close), the market ended December at (Month Close), that being 70%(Pct Range) off of 4.620(Month Low) to 5.320(Month High).

In comparing the November/December closes for each of the last 13 years(Total Years), Scenario found that the June Natural Gas(NYM) also closed higher in December than November in 4(Cond Years) of those years. Of those 4, NGM went on to exceed the December high within the next 2 months in 4 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the NGM should exceed 5.320(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 4 years) a potential move toward 6.130(Average Objective).

March Soybeans(CBOT)
The SH4(Mkt) ended Higher(Cond) for December(Month). Compared to November's 754.00(Prev Close), the market ended December at (Month Close), that being 88%(Pct Range) off of 733.00(Month Low) to 802.25(Month High).

In comparing the November/December closes for each of the last 44 years(Total Years), Scenario found that the March Soybeans(CBOT) also closed higher in December than November in 19(Cond Years) of those years. Of those 19, SH went on to exceed the December high within the next 2 months in 16 years(Action Years) or 84%(Pct) of the time.

Therefore, the historical odds are high that the SH should exceed 802.25(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 16 years) a potential move toward 850.53(Average Objective).

July Wheat(KCBT)
The KWN4(Mkt) ended Lower(Cond) for December(Month). Compared to November's 372.50(Prev Close), the market ended December at (Month Close), that being 56%(Pct Range) off of 350.00(Month Low) to 384.50(Month High).

In comparing the November/December closes for each of the last 27 years(Total Years), Scenario found that the July Wheat(KCBT) also closed lower in December than November in 16(Cond Years) of those years. Of those 16, KWN went on to penetrate the December low within the next 2 months in 14 years(Action Years) or 88%(Pct) of the time.

Therefore, the historical odds are high that the KWN should penetrate 350.00(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 14 years) a potential move toward 336.66(Average Objective).

March Orange Juice(NYBOT)
The JOH4(Mkt) ended Lower(Cond) for December(Month). Compared to November's 71.90(Prev Close), the market ended December at (Month Close), that being 5%(Pct Range) off of 63.60(Month Low) to 74.30(Month High).

In comparing the November/December closes for each of the last 36 years(Total Years), Scenario found that the March Orange Juice(NYBOT) also closed lower in December than November in 25(Cond Years) of those years. Of those 25, JOH went on to penetrate the December low within the next 2 months in 23 years(Action Years) or 92%(Pct) of the time.

Therefore, the historical odds are high that the JOH should penetrate 63.60(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 23 years) a potential move toward 56.92(Average Objective).

May Orange Juice(NYBOT)
The JOK4(Mkt) ended Lower(Cond) for December(Month). Compared to November's 74.25(Prev Close), the market ended December at (Month Close), that being 6%(Pct Range) off of 66.50(Month Low) to 76.80(Month High).

In comparing the November/December closes for each of the last 36 years(Total Years), Scenario found that the May Orange Juice(NYBOT) also closed lower in December than November in 25(Cond Years) of those years. Of those 25, JOK went on to penetrate the December low within the next 2 months in 23 years(Action Years) or 92%(Pct) of the time.

Therefore, the historical odds are high that the JOK should penetrate 66.50(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 23 years) a potential move toward 59.39(Average Objective).

July Orange Juice(NYBOT)
The JON4(Mkt) ended Lower(Cond) for December(Month). Compared to November's 76.95(Prev Close), the market ended December at (Month Close), that being 4%(Pct Range) off of 69.25(Month Low) to 78.85(Month High).

In comparing the November/December closes for each of the last 36 years(Total Years), Scenario found that the July Orange Juice(NYBOT) also closed lower in December than November in 23(Cond Years) of those years. Of those 23, JON went on to penetrate the December low within the next 2 months in 21 years(Action Years) or 91%(Pct) of the time.

Therefore, the historical odds are high that the JON should penetrate 69.25(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 21 years) a potential move toward 62.14(Average Objective).

July Sugar #11(NYBOT)
The SBN4(Mkt) ended Lower(Cond) for December(Month). Compared to November's 6.15(Prev Close), the market ended December at (Month Close), that being 2%(Pct Range) off of 5.82(Month Low) to 6.43(Month High).

In comparing the November/December closes for each of the last 42 years(Total Years), Scenario found that the July Sugar #11(NYBOT) also closed lower in December than November in 22(Cond Years) of those years. Of those 22, SBN went on to penetrate the December low within the next 2 months in 19 years(Action Years) or 86%(Pct) of the time.

Therefore, the historical odds are high that the SBN should penetrate 5.82(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 19 years) a potential move toward 5.02(Average Objective).

March Lumber(CME)
The LBH4(Mkt) ended Higher(Cond) for December(Month). Compared to November's 322.7(Prev Close), the market ended December at (Month Close), that being 91%(Pct Range) off of 293.4(Month Low) to 329.9(Month High).

In comparing the November/December closes for each of the last 30 years(Total Years), Scenario found that the March Lumber(CME) also closed higher in December than November in 20(Cond Years) of those years. Of those 20, LBH went on to exceed the December high within the next 2 months in 17 years(Action Years) or 85%(Pct) of the time.

Therefore, the historical odds are high that the LBH should exceed 329.9(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 17 years) a potential move toward 363.6(Average Objective).

May Lumber(CME)
The LBK4(Mkt) ended Higher(Cond) for December(Month). Compared to November's 326.2(Prev Close), the market ended December at (Month Close), that being 84%(Pct Range) off of 302.2(Month Low) to 334.9(Month High).

In comparing the November/December closes for each of the last 30 years(Total Years), Scenario found that the May Lumber(CME) also closed higher in December than November in 20(Cond Years) of those years. Of those 20, LBK went on to exceed the December high within the next 2 months in 19 years(Action Years) or 95%(Pct) of the time.

Therefore, the historical odds are high that the LBK should exceed 334.9(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 19 years) a potential move toward 363.2(Average Objective).