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MRCI's Scenario Summary

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MRCI's ScenarioSM Summary

Copyright © 1989- Moore Research Center, Inc. All Rights Reserved.
ScenarioSM Summary May 31, 2014
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 May 14840.00 15542.00 14687.00 15116.00 50% 45 22 19 86% 15542.00 16271.18 14810.00
#OEX Higher May 719.00 757.60 712.05 733.65 47% 38 21 19 90% 757.60 789.03 730.90
#NDX Higher May 2887.40 3053.50 2868.80 2981.80 61% 28 18 17 94% 3053.50 3200.58 3073.80
#RUT Higher May 947.45 1008.25 924.20 984.15 71% 35 22 19 86% 1008.25 1058.63 1010.90
#MID Higher May 1160.00 1223.35 1138.50 1184.30 54% 33 21 19 90% 1223.35 1276.98 1183.85
SPU4 Higher May 1870.50 1914.40 1847.40 1913.90 99% 32 20 17 85% 1914.40 1991.91 1913.90
USU4 Higher May 134~050 138~100 133~270 137~150 81% 36 16 16 100% 138~100 143~316 137~150
TYU4 Higher May 123~170 126~000 122~310 125~165 84% 31 14 14 100% 126~000 129~198 125~165
EDU4 Higher May 99.755 99.775 99.750 99.760 40% 32 14 12 86% 99.775 100.227 99.760
EDZ4 Higher May 99.720 99.745 99.705 99.735 75% 32 15 14 93% 99.745 100.278 99.735
EUU4 Lower May 138.68 139.86 135.87 136.35 12% 15 9 8 89% 135.87 132.47 136.35
JYU4 Higher May 98.00 99.25 97.00 98.40 62% 37 15 14 93% 99.25 103.18 98.40
ADU4 Higher May 92.09 93.28 91.29 92.37 54% 27 10 10 100% 93.28 95.78 92.37
DXU4 Higher May 79.668 80.745 79.055 80.518 87% 28 17 15 88% 80.745 82.504 80.518
RBU4 Higher May 284.24 293.17 278.78 289.22 73% 29 14 12 86% 293.17 316.26 289.22
RBV4 Higher May 267.91 276.78 263.45 272.49 68% 29 14 12 86% 276.78 298.44 272.49
NGU4 Lower May 4.813 4.817 4.264 4.492 41% 24 12 11 92% 4.264 3.536 4.492
NGV4 Lower May 4.818 4.818 4.285 4.487 38% 24 11 10 91% 4.285 3.589 4.487
SQ4 Lower May 1440.75 1459.00 1390.50 1424.50 50% 45 22 22 100% 1390.50 1282.01 1424.50
SU4 Lower May 1310.25 1337.50 1264.75 1285.75 29% 45 22 21 95% 1264.75 1178.22 1285.75
SX4 Lower May 1246.75 1279.00 1206.75 1233.75 37% 45 23 20 87% 1206.75 1123.77 1233.75
BOQ4 Lower May 42.08 42.14 38.47 38.61 4% 45 25 21 84% 38.47 34.83 38.61
BOU4 Lower May 41.83 41.90 38.60 38.68 2% 45 23 20 87% 38.60 35.20 38.68
BOV4 Lower May 41.36 41.42 38.55 38.71 6% 45 23 21 91% 38.55 35.33 38.71
BOZ4 Lower May 41.39 41.52 38.75 38.90 5% 45 23 21 91% 38.75 35.71 38.90
SMZ4 Higher May 395.90 411.40 381.40 403.60 74% 45 25 21 84% 411.40 467.12 403.60
CU4 Lower May 513.25 518.00 457.25 458.00 1% 45 23 20 87% 457.25 412.86 458.00
CZ4 Lower May 509.25 514.75 456.50 457.50 2% 45 23 20 87% 456.50 415.61 457.50
WU4 Lower May 729.75 751.50 637.75 639.75 2% 45 27 24 89% 637.75 583.01 639.75
WZ4 Lower May 742.75 765.00 658.50 660.50 2% 45 26 23 88% 658.50 604.29 660.50
KWU4 Lower May 814.50 857.00 729.50 730.75 1% 38 19 18 95% 729.50 669.00 730.75
KWZ4 Lower May 821.75 862.00 740.50 742.00 1% 38 19 18 95% 740.50 682.24 742.00
RRU4 Lower May 14.57 14.59 14.32 14.38 19% 27 14 13 93% 14.32 13.05 14.38
LCQ4 Higher May 136.075 140.900 135.950 138.600 54% 45 19 16 84% 140.900 149.939 138.600
LCV4 Higher May 140.400 144.700 140.030 142.600 55% 45 20 17 85% 144.700 152.185 142.600
LCZ4 Higher May 141.985 146.825 141.680 145.735 79% 45 21 18 86% 146.825 153.078 145.735
LEV4 Higher May 102.900 108.530 102.700 105.850 54% 44 21 19 90% 108.530 117.050 105.850
CCU4 Higher May 2989 3078 2861 3070 96% 45 17 15 88% 3078 3448 3070
CCZ4 Higher May 2998 3075 2874 3071 98% 45 18 16 89% 3075 3484 3071
LBU4 Lower May 336.8 349.3 312.5 312.5 0% 41 19 17 89% 312.5 277.9 312.5
LBX4 Lower May 335.0 348.0 316.0 317.7 5% 41 19 18 95% 316.0 287.7 317.7
CTZ4 Lower May 83.40 84.74 77.00 77.47 6% 44 23 20 87% 77.00 72.17 77.47


DJIA Index
The #DJ(Mkt) ended Higher(Cond) for May(Month). Compared to April's 14840.00(Prev Close), the market ended May at 15116.00(Month Close), that being 50%(Pct Range) off of 14687.00(Month Low) to 15542.00(Month High).

In comparing the April/May closes for each of the last 45 years(Total Years), Scenario found that the DJIA Index also closed higher in May than April in 22(Cond Years) of those years. Of those 22, the #DJ went on to exceed the May high within the next 2 months in 19 years(Action Years) or 86%(Pct) of the time.

Therefore, the historical odds are high that the the #DJ should exceed 15542.00(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 19 years) a potential move toward 16271.18(Average Objective).

S & P 100(OEX)
The #OEX(Mkt) ended Higher(Cond) for May(Month). Compared to April's 719.00(Prev Close), the market ended May at 733.65(Month Close), that being 47%(Pct Range) off of 712.05(Month Low) to 757.60(Month High).

In comparing the April/May closes for each of the last 38 years(Total Years), Scenario found that the S & P 100(OEX) also closed higher in May than April in 21(Cond Years) of those years. Of those 21, the #OEX went on to exceed the May high within the next 2 months in 19 years(Action Years) or 90%(Pct) of the time.

Therefore, the historical odds are high that the the #OEX should exceed 757.60(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 19 years) a potential move toward 789.03(Average Objective).

NASDAQ 100 Index
The #NDX(Mkt) ended Higher(Cond) for May(Month). Compared to April's 2887.40(Prev Close), the market ended May at 2981.80(Month Close), that being 61%(Pct Range) off of 2868.80(Month Low) to 3053.50(Month High).

In comparing the April/May closes for each of the last 28 years(Total Years), Scenario found that the NASDAQ 100 Index also closed higher in May than April in 18(Cond Years) of those years. Of those 18, the #NDX went on to exceed the May high within the next 2 months in 17 years(Action Years) or 94%(Pct) of the time.

Therefore, the historical odds are high that the the #NDX should exceed 3053.50(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 17 years) a potential move toward 3200.58(Average Objective).

Russell 2000 Index
The #RUT(Mkt) ended Higher(Cond) for May(Month). Compared to April's 947.45(Prev Close), the market ended May at 984.15(Month Close), that being 71%(Pct Range) off of 924.20(Month Low) to 1008.25(Month High).

In comparing the April/May closes for each of the last 35 years(Total Years), Scenario found that the Russell 2000 Index also closed higher in May than April in 22(Cond Years) of those years. Of those 22, the #RUT went on to exceed the May high within the next 2 months in 19 years(Action Years) or 86%(Pct) of the time.

Therefore, the historical odds are high that the the #RUT should exceed 1008.25(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 19 years) a potential move toward 1058.63(Average Objective).

S & P Midcap 400 Index
The #MID(Mkt) ended Higher(Cond) for May(Month). Compared to April's 1160.00(Prev Close), the market ended May at 1184.30(Month Close), that being 54%(Pct Range) off of 1138.50(Month Low) to 1223.35(Month High).

In comparing the April/May closes for each of the last 33 years(Total Years), Scenario found that the S & P Midcap 400 Index also closed higher in May than April in 21(Cond Years) of those years. Of those 21, the #MID went on to exceed the May high within the next 2 months in 19 years(Action Years) or 90%(Pct) of the time.

Therefore, the historical odds are high that the the #MID should exceed 1223.35(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 19 years) a potential move toward 1276.98(Average Objective).

September S & P 500(CME)
The SPU4(Mkt) ended Higher(Cond) for May(Month). Compared to April's 1870.50(Prev Close), the market ended May at 1913.90(Month Close), that being 99%(Pct Range) off of 1847.40(Month Low) to 1914.40(Month High).

In comparing the April/May closes for each of the last 32 years(Total Years), Scenario found that the September S & P 500(CME) also closed higher in May than April in 20(Cond Years) of those years. Of those 20, SPU went on to exceed the May 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 SPU should exceed 1914.40(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 17 years) a potential move toward 1991.91(Average Objective).

September 30-Year T-Bonds(CBOT)
The USU4(Mkt) ended Higher(Cond) for May(Month). Compared to April's 134~050(Prev Close), the market ended May at 137~150(Month Close), that being 81%(Pct Range) off of 133~270(Month Low) to 138~100(Month High).

In comparing the April/May closes for each of the last 36 years(Total Years), Scenario found that the September 30-Year T-Bonds(CBOT) also closed higher in May than April in 16(Cond Years) of those years. Of those 16, USU went on to exceed the May 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 USU should exceed 138~100(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 16 years) a potential move toward 143~316(Average Objective).

September 10-Year T-Notes(CBOT)
The TYU4(Mkt) ended Higher(Cond) for May(Month). Compared to April's 123~170(Prev Close), the market ended May at 125~165(Month Close), that being 84%(Pct Range) off of 122~310(Month Low) to 126~000(Month High).

In comparing the April/May closes for each of the last 31 years(Total Years), Scenario found that the September 10-Year T-Notes(CBOT) also closed higher in May than April in 14(Cond Years) of those years. Of those 14, TYU went on to exceed the May 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 TYU should exceed 126~000(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 14 years) a potential move toward 129~198(Average Objective).

September Eurodollars(CME)
The EDU4(Mkt) ended Higher(Cond) for May(Month). Compared to April's 99.755(Prev Close), the market ended May at 99.760(Month Close), that being 40%(Pct Range) off of 99.750(Month Low) to 99.775(Month High).

In comparing the April/May closes for each of the last 32 years(Total Years), Scenario found that the September Eurodollars(CME) also closed higher in May than April in 14(Cond Years) of those years. Of those 14, EDU went on to exceed the May 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 EDU should exceed 99.775(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 12 years) a potential move toward 100.227(Average Objective).

December Eurodollars(CME)
The EDZ4(Mkt) ended Higher(Cond) for May(Month). Compared to April's 99.720(Prev Close), the market ended May at 99.735(Month Close), that being 75%(Pct Range) off of 99.705(Month Low) to 99.745(Month High).

In comparing the April/May closes for each of the last 32 years(Total Years), Scenario found that the December Eurodollars(CME) also closed higher in May than April in 15(Cond Years) of those years. Of those 15, EDZ went on to exceed the May high within the next 2 months in 14 years(Action Years) or 93%(Pct) of the time.

Therefore, the historical odds are high that the EDZ should exceed 99.745(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 14 years) a potential move toward 100.278(Average Objective).

September EuroFX(CME)
The EUU4(Mkt) ended Lower(Cond) for May(Month). Compared to April's 138.68(Prev Close), the market ended May at 136.35(Month Close), that being 12%(Pct Range) off of 135.87(Month Low) to 139.86(Month High).

In comparing the April/May closes for each of the last 15 years(Total Years), Scenario found that the September EuroFX(CME) also closed lower in May than April in 9(Cond Years) of those years. Of those 9, EUU went on to penetrate the May low within the next 2 months in 8 years(Action Years) or 89%(Pct) of the time.

Therefore, the historical odds are high that the EUU should penetrate 135.87(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 8 years) a potential move toward 132.47(Average Objective).

September Japanese Yen(CME)
The JYU4(Mkt) ended Higher(Cond) for May(Month). Compared to April's 98.00(Prev Close), the market ended May at 98.40(Month Close), that being 62%(Pct Range) off of 97.00(Month Low) to 99.25(Month High).

In comparing the April/May closes for each of the last 37 years(Total Years), Scenario found that the September Japanese Yen(CME) also closed higher in May than April in 15(Cond Years) of those years. Of those 15, JYU went on to exceed the May high within the next 2 months in 14 years(Action Years) or 93%(Pct) of the time.

Therefore, the historical odds are high that the JYU should exceed 99.25(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 14 years) a potential move toward 103.18(Average Objective).

September Australian Dollar(CME)
The ADU4(Mkt) ended Higher(Cond) for May(Month). Compared to April's 92.09(Prev Close), the market ended May at 92.37(Month Close), that being 54%(Pct Range) off of 91.29(Month Low) to 93.28(Month High).

In comparing the April/May closes for each of the last 27 years(Total Years), Scenario found that the September Australian Dollar(CME) also closed higher in May than April in 10(Cond Years) of those years. Of those 10, ADU went on to exceed the May 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 ADU should exceed 93.28(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 10 years) a potential move toward 95.78(Average Objective).

September US Dollar Index(ICE)
The DXU4(Mkt) ended Higher(Cond) for May(Month). Compared to April's 79.668(Prev Close), the market ended May at 80.518(Month Close), that being 87%(Pct Range) off of 79.055(Month Low) to 80.745(Month High).

In comparing the April/May closes for each of the last 28 years(Total Years), Scenario found that the September US Dollar Index(ICE) also closed higher in May than April in 17(Cond Years) of those years. Of those 17, DXU went on to exceed the May high within the next 2 months in 15 years(Action Years) or 88%(Pct) of the time.

Therefore, the historical odds are high that the DXU should exceed 80.745(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 15 years) a potential move toward 82.504(Average Objective).

September RBOB Gasoline(ICE)
The RBU4(Mkt) ended Higher(Cond) for May(Month). Compared to April's 284.24(Prev Close), the market ended May at 289.22(Month Close), that being 73%(Pct Range) off of 278.78(Month Low) to 293.17(Month High).

In comparing the April/May closes for each of the last 29 years(Total Years), Scenario found that the September RBOB Gasoline(ICE) also closed higher in May than April in 14(Cond Years) of those years. Of those 14, RBU went on to exceed the May 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 RBU should exceed 293.17(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 12 years) a potential move toward 316.26(Average Objective).

October RBOB Gasoline(ICE)
The RBV4(Mkt) ended Higher(Cond) for May(Month). Compared to April's 267.91(Prev Close), the market ended May at 272.49(Month Close), that being 68%(Pct Range) off of 263.45(Month Low) to 276.78(Month High).

In comparing the April/May closes for each of the last 29 years(Total Years), Scenario found that the October RBOB Gasoline(ICE) also closed higher in May than April in 14(Cond Years) of those years. Of those 14, RBV went on to exceed the May 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 RBV should exceed 276.78(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 12 years) a potential move toward 298.44(Average Objective).

September Natural Gas(NYM)
The NGU4(Mkt) ended Lower(Cond) for May(Month). Compared to April's 4.813(Prev Close), the market ended May at 4.492(Month Close), that being 41%(Pct Range) off of 4.264(Month Low) to 4.817(Month High).

In comparing the April/May closes for each of the last 24 years(Total Years), Scenario found that the September Natural Gas(NYM) also closed lower in May than April in 12(Cond Years) of those years. Of those 12, NGU went on to penetrate the May low within the next 2 months in 11 years(Action Years) or 92%(Pct) of the time.

Therefore, the historical odds are high that the NGU should penetrate 4.264(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 11 years) a potential move toward 3.536(Average Objective).

October Natural Gas(NYM)
The NGV4(Mkt) ended Lower(Cond) for May(Month). Compared to April's 4.818(Prev Close), the market ended May at 4.487(Month Close), that being 38%(Pct Range) off of 4.285(Month Low) to 4.818(Month High).

In comparing the April/May closes for each of the last 24 years(Total Years), Scenario found that the October Natural Gas(NYM) also closed lower in May than April in 11(Cond Years) of those years. Of those 11, NGV went on to penetrate the May low within the next 2 months in 10 years(Action Years) or 91%(Pct) of the time.

Therefore, the historical odds are high that the NGV should penetrate 4.285(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 10 years) a potential move toward 3.589(Average Objective).

August Soybeans(CBOT)
The SQ4(Mkt) ended Lower(Cond) for May(Month). Compared to April's 1440.75(Prev Close), the market ended May at 1424.50(Month Close), that being 50%(Pct Range) off of 1390.50(Month Low) to 1459.00(Month High).

In comparing the April/May closes for each of the last 45 years(Total Years), Scenario found that the August Soybeans(CBOT) also closed lower in May than April in 22(Cond Years) of those years. Of those 22, SQ went on to penetrate the May low within the next 2 months in 22 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the SQ should penetrate 1390.50(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 22 years) a potential move toward 1282.01(Average Objective).

September Soybeans(CBOT)
The SU4(Mkt) ended Lower(Cond) for May(Month). Compared to April's 1310.25(Prev Close), the market ended May at 1285.75(Month Close), that being 29%(Pct Range) off of 1264.75(Month Low) to 1337.50(Month High).

In comparing the April/May closes for each of the last 45 years(Total Years), Scenario found that the September Soybeans(CBOT) also closed lower in May than April in 22(Cond Years) of those years. Of those 22, SU went on to penetrate the May low within the next 2 months in 21 years(Action Years) or 95%(Pct) of the time.

Therefore, the historical odds are high that the SU should penetrate 1264.75(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 21 years) a potential move toward 1178.22(Average Objective).

November Soybeans(CBOT)
The SX4(Mkt) ended Lower(Cond) for May(Month). Compared to April's 1246.75(Prev Close), the market ended May at 1233.75(Month Close), that being 37%(Pct Range) off of 1206.75(Month Low) to 1279.00(Month High).

In comparing the April/May closes for each of the last 45 years(Total Years), Scenario found that the November Soybeans(CBOT) also closed lower in May than April in 23(Cond Years) of those years. Of those 23, SX went on to penetrate the May low within the next 2 months in 20 years(Action Years) or 87%(Pct) of the time.

Therefore, the historical odds are high that the SX should penetrate 1206.75(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 20 years) a potential move toward 1123.77(Average Objective).

August Soybean Oil(CBOT)
The BOQ4(Mkt) ended Lower(Cond) for May(Month). Compared to April's 42.08(Prev Close), the market ended May at 38.61(Month Close), that being 4%(Pct Range) off of 38.47(Month Low) to 42.14(Month High).

In comparing the April/May closes for each of the last 45 years(Total Years), Scenario found that the August Soybean Oil(CBOT) also closed lower in May than April in 25(Cond Years) of those years. Of those 25, BOQ went on to penetrate the May low within the next 2 months in 21 years(Action Years) or 84%(Pct) of the time.

Therefore, the historical odds are high that the BOQ should penetrate 38.47(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 21 years) a potential move toward 34.83(Average Objective).

September Soybean Oil(CBOT)
The BOU4(Mkt) ended Lower(Cond) for May(Month). Compared to April's 41.83(Prev Close), the market ended May at 38.68(Month Close), that being 2%(Pct Range) off of 38.60(Month Low) to 41.90(Month High).

In comparing the April/May closes for each of the last 45 years(Total Years), Scenario found that the September Soybean Oil(CBOT) also closed lower in May than April in 23(Cond Years) of those years. Of those 23, BOU went on to penetrate the May low within the next 2 months in 20 years(Action Years) or 87%(Pct) of the time.

Therefore, the historical odds are high that the BOU should penetrate 38.60(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 20 years) a potential move toward 35.20(Average Objective).

October Soybean Oil(CBOT)
The BOV4(Mkt) ended Lower(Cond) for May(Month). Compared to April's 41.36(Prev Close), the market ended May at 38.71(Month Close), that being 6%(Pct Range) off of 38.55(Month Low) to 41.42(Month High).

In comparing the April/May closes for each of the last 45 years(Total Years), Scenario found that the October Soybean Oil(CBOT) also closed lower in May than April in 23(Cond Years) of those years. Of those 23, BOV went on to penetrate the May 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 BOV should penetrate 38.55(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 21 years) a potential move toward 35.33(Average Objective).

December Soybean Oil(CBOT)
The BOZ4(Mkt) ended Lower(Cond) for May(Month). Compared to April's 41.39(Prev Close), the market ended May at 38.90(Month Close), that being 5%(Pct Range) off of 38.75(Month Low) to 41.52(Month High).

In comparing the April/May closes for each of the last 45 years(Total Years), Scenario found that the December Soybean Oil(CBOT) also closed lower in May than April in 23(Cond Years) of those years. Of those 23, BOZ went on to penetrate the May 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 BOZ should penetrate 38.75(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 21 years) a potential move toward 35.71(Average Objective).

December Soybean Meal(CBOT)
The SMZ4(Mkt) ended Higher(Cond) for May(Month). Compared to April's 395.90(Prev Close), the market ended May at 403.60(Month Close), that being 74%(Pct Range) off of 381.40(Month Low) to 411.40(Month High).

In comparing the April/May closes for each of the last 45 years(Total Years), Scenario found that the December Soybean Meal(CBOT) also closed higher in May than April in 25(Cond Years) of those years. Of those 25, SMZ went on to exceed the May high within the next 2 months in 21 years(Action Years) or 84%(Pct) of the time.

Therefore, the historical odds are high that the SMZ should exceed 411.40(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 21 years) a potential move toward 467.12(Average Objective).

September Corn(CBOT)
The CU4(Mkt) ended Lower(Cond) for May(Month). Compared to April's 513.25(Prev Close), the market ended May at 458.00(Month Close), that being 1%(Pct Range) off of 457.25(Month Low) to 518.00(Month High).

In comparing the April/May closes for each of the last 45 years(Total Years), Scenario found that the September Corn(CBOT) also closed lower in May than April in 23(Cond Years) of those years. Of those 23, CU went on to penetrate the May low within the next 2 months in 20 years(Action Years) or 87%(Pct) of the time.

Therefore, the historical odds are high that the CU should penetrate 457.25(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 20 years) a potential move toward 412.86(Average Objective).

December Corn(CBOT)
The CZ4(Mkt) ended Lower(Cond) for May(Month). Compared to April's 509.25(Prev Close), the market ended May at 457.50(Month Close), that being 2%(Pct Range) off of 456.50(Month Low) to 514.75(Month High).

In comparing the April/May closes for each of the last 45 years(Total Years), Scenario found that the December Corn(CBOT) also closed lower in May than April in 23(Cond Years) of those years. Of those 23, CZ went on to penetrate the May low within the next 2 months in 20 years(Action Years) or 87%(Pct) of the time.

Therefore, the historical odds are high that the CZ should penetrate 456.50(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 20 years) a potential move toward 415.61(Average Objective).

September Wheat(CBOT)
The WU4(Mkt) ended Lower(Cond) for May(Month). Compared to April's 729.75(Prev Close), the market ended May at 639.75(Month Close), that being 2%(Pct Range) off of 637.75(Month Low) to 751.50(Month High).

In comparing the April/May closes for each of the last 45 years(Total Years), Scenario found that the September Wheat(CBOT) also closed lower in May than April in 27(Cond Years) of those years. Of those 27, WU went on to penetrate the May low within the next 2 months in 24 years(Action Years) or 89%(Pct) of the time.

Therefore, the historical odds are high that the WU should penetrate 637.75(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 24 years) a potential move toward 583.01(Average Objective).

December Wheat(CBOT)
The WZ4(Mkt) ended Lower(Cond) for May(Month). Compared to April's 742.75(Prev Close), the market ended May at 660.50(Month Close), that being 2%(Pct Range) off of 658.50(Month Low) to 765.00(Month High).

In comparing the April/May closes for each of the last 45 years(Total Years), Scenario found that the December Wheat(CBOT) also closed lower in May than April in 26(Cond Years) of those years. Of those 26, WZ went on to penetrate the May low within the next 2 months in 23 years(Action Years) or 88%(Pct) of the time.

Therefore, the historical odds are high that the WZ should penetrate 658.50(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 23 years) a potential move toward 604.29(Average Objective).

September Wheat(KCBT)
The KWU4(Mkt) ended Lower(Cond) for May(Month). Compared to April's 814.50(Prev Close), the market ended May at 730.75(Month Close), that being 1%(Pct Range) off of 729.50(Month Low) to 857.00(Month High).

In comparing the April/May closes for each of the last 38 years(Total Years), Scenario found that the September Wheat(KCBT) also closed lower in May than April in 19(Cond Years) of those years. Of those 19, KWU went on to penetrate the May low within the next 2 months in 18 years(Action Years) or 95%(Pct) of the time.

Therefore, the historical odds are high that the KWU should penetrate 729.50(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 18 years) a potential move toward 669.00(Average Objective).

December Wheat(KCBT)
The KWZ4(Mkt) ended Lower(Cond) for May(Month). Compared to April's 821.75(Prev Close), the market ended May at 742.00(Month Close), that being 1%(Pct Range) off of 740.50(Month Low) to 862.00(Month High).

In comparing the April/May closes for each of the last 38 years(Total Years), Scenario found that the December Wheat(KCBT) also closed lower in May than April in 19(Cond Years) of those years. Of those 19, KWZ went on to penetrate the May low within the next 2 months in 18 years(Action Years) or 95%(Pct) of the time.

Therefore, the historical odds are high that the KWZ should penetrate 740.50(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 18 years) a potential move toward 682.24(Average Objective).

September Rough Rice(CBOT)
The RRU4(Mkt) ended Lower(Cond) for May(Month). Compared to April's 14.57(Prev Close), the market ended May at 14.38(Month Close), that being 19%(Pct Range) off of 14.32(Month Low) to 14.59(Month High).

In comparing the April/May closes for each of the last 27 years(Total Years), Scenario found that the September Rough Rice(CBOT) also closed lower in May than April in 14(Cond Years) of those years. Of those 14, RRU went on to penetrate the May low within the next 2 months in 13 years(Action Years) or 93%(Pct) of the time.

Therefore, the historical odds are high that the RRU should penetrate 14.32(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 13 years) a potential move toward 13.05(Average Objective).

August Live Cattle(CME)
The LCQ4(Mkt) ended Higher(Cond) for May(Month). Compared to April's 136.075(Prev Close), the market ended May at 138.600(Month Close), that being 54%(Pct Range) off of 135.950(Month Low) to 140.900(Month High).

In comparing the April/May closes for each of the last 45 years(Total Years), Scenario found that the August Live Cattle(CME) also closed higher in May than April in 19(Cond Years) of those years. Of those 19, LCQ went on to exceed the May 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 LCQ should exceed 140.900(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 16 years) a potential move toward 149.939(Average Objective).

October Live Cattle(CME)
The LCV4(Mkt) ended Higher(Cond) for May(Month). Compared to April's 140.400(Prev Close), the market ended May at 142.600(Month Close), that being 55%(Pct Range) off of 140.030(Month Low) to 144.700(Month High).

In comparing the April/May closes for each of the last 45 years(Total Years), Scenario found that the October Live Cattle(CME) also closed higher in May than April in 20(Cond Years) of those years. Of those 20, LCV went on to exceed the May 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 LCV should exceed 144.700(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 17 years) a potential move toward 152.185(Average Objective).

December Live Cattle(CME)
The LCZ4(Mkt) ended Higher(Cond) for May(Month). Compared to April's 141.985(Prev Close), the market ended May at 145.735(Month Close), that being 79%(Pct Range) off of 141.680(Month Low) to 146.825(Month High).

In comparing the April/May closes for each of the last 45 years(Total Years), Scenario found that the December Live Cattle(CME) also closed higher in May than April in 21(Cond Years) of those years. Of those 21, LCZ went on to exceed the May high within the next 2 months in 18 years(Action Years) or 86%(Pct) of the time.

Therefore, the historical odds are high that the LCZ should exceed 146.825(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 18 years) a potential move toward 153.078(Average Objective).

October Lean Hogs(CME)
The LEV4(Mkt) ended Higher(Cond) for May(Month). Compared to April's 102.900(Prev Close), the market ended May at 105.850(Month Close), that being 54%(Pct Range) off of 102.700(Month Low) to 108.530(Month High).

In comparing the April/May closes for each of the last 44 years(Total Years), Scenario found that the October Lean Hogs(CME) also closed higher in May than April in 21(Cond Years) of those years. Of those 21, LEV went on to exceed the May high within the next 2 months in 19 years(Action Years) or 90%(Pct) of the time.

Therefore, the historical odds are high that the LEV should exceed 108.530(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 19 years) a potential move toward 117.050(Average Objective).

September Cocoa(ICE)
The CCU4(Mkt) ended Higher(Cond) for May(Month). Compared to April's 2989(Prev Close), the market ended May at 3070(Month Close), that being 96%(Pct Range) off of 2861(Month Low) to 3078(Month High).

In comparing the April/May closes for each of the last 45 years(Total Years), Scenario found that the September Cocoa(ICE) also closed higher in May than April in 17(Cond Years) of those years. Of those 17, CCU went on to exceed the May high within the next 2 months in 15 years(Action Years) or 88%(Pct) of the time.

Therefore, the historical odds are high that the CCU should exceed 3078(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 15 years) a potential move toward 3448(Average Objective).

December Cocoa(ICE)
The CCZ4(Mkt) ended Higher(Cond) for May(Month). Compared to April's 2998(Prev Close), the market ended May at 3071(Month Close), that being 98%(Pct Range) off of 2874(Month Low) to 3075(Month High).

In comparing the April/May closes for each of the last 45 years(Total Years), Scenario found that the December Cocoa(ICE) also closed higher in May than April in 18(Cond Years) of those years. Of those 18, CCZ went on to exceed the May high within the next 2 months in 16 years(Action Years) or 89%(Pct) of the time.

Therefore, the historical odds are high that the CCZ should exceed 3075(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 16 years) a potential move toward 3484(Average Objective).

September Lumber(CME)
The LBU4(Mkt) ended Lower(Cond) for May(Month). Compared to April's 336.8(Prev Close), the market ended May at 312.5(Month Close), that being 0%(Pct Range) off of 312.5(Month Low) to 349.3(Month High).

In comparing the April/May closes for each of the last 41 years(Total Years), Scenario found that the September Lumber(CME) also closed lower in May than April in 19(Cond Years) of those years. Of those 19, LBU went on to penetrate the May low within the next 2 months in 17 years(Action Years) or 89%(Pct) of the time.

Therefore, the historical odds are high that the LBU should penetrate 312.5(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 17 years) a potential move toward 277.9(Average Objective).

November Lumber(CME)
The LBX4(Mkt) ended Lower(Cond) for May(Month). Compared to April's 335.0(Prev Close), the market ended May at 317.7(Month Close), that being 5%(Pct Range) off of 316.0(Month Low) to 348.0(Month High).

In comparing the April/May closes for each of the last 41 years(Total Years), Scenario found that the November Lumber(CME) also closed lower in May than April in 19(Cond Years) of those years. Of those 19, LBX went on to penetrate the May low within the next 2 months in 18 years(Action Years) or 95%(Pct) of the time.

Therefore, the historical odds are high that the LBX should penetrate 316.0(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 18 years) a potential move toward 287.7(Average Objective).

December Cotton(ICE)
The CTZ4(Mkt) ended Lower(Cond) for May(Month). Compared to April's 83.40(Prev Close), the market ended May at 77.47(Month Close), that being 6%(Pct Range) off of 77.00(Month Low) to 84.74(Month High).

In comparing the April/May closes for each of the last 44 years(Total Years), Scenario found that the December Cotton(ICE) also closed lower in May than April in 23(Cond Years) of those years. Of those 23, CTZ went on to penetrate the May low within the next 2 months in 20 years(Action Years) or 87%(Pct) of the time.

Therefore, the historical odds are high that the CTZ should penetrate 77.00(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 20 years) a potential move toward 72.17(Average Objective).
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