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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 Dec 31, 2012
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 13026.00 13366.00 12884.00 13104.00 46% 45 31 29 94% 13366.00 14085.15 13104.00
#TRAN Higher Dec 5119.10 5358.30 5041.60 5306.80 84% 42 30 28 93% 5358.30 5834.33 5306.80
#OEX Higher Dec 646.40 658.20 633.95 646.60 52% 36 25 23 92% 658.20 694.93 646.60
#RUT Higher Dec 821.90 852.50 816.10 849.35 91% 33 26 25 96% 852.50 914.64 849.35
#MID Higher Dec 1000.15 1030.15 991.90 1020.45 75% 31 22 21 95% 1030.15 1084.84 1020.45
#VLE Higher Dec 3072.80 3187.30 3047.40 3164.70 84% 29 25 24 96% 3187.30 3401.30 3164.70
#SSNI Higher Dec 9446 10434 9377 10395 96% 30 21 19 90% Yes 11070 10395
#SP Higher Dec 1416.20 1448.00 1398.10 1426.20 56% 45 33 31 94% 1448.00 1518.23 1426.20
SPH3 Higher Dec 1407.80 1445.80 1384.00 1420.10 58% 30 23 23 100% 1445.80 1518.40 1420.10
SPM3 Higher Dec 1401.10 1435.50 1374.80 1413.30 63% 30 23 22 96% 1435.50 1510.84 1413.30
EDH3 Higher Dec 99.680 99.725 99.670 99.700 55% 30 18 17 94% 99.725 100.066 99.700
EDM3 Higher Dec 99.665 99.710 99.640 99.675 50% 30 18 18 100% 99.710 100.161 99.675
JYH3 Lower Dec 121.49 122.49 115.27 115.50 3% 36 17 16 94% 115.27 111.24 115.50
GCG3 Lower Dec 1712.7 1725.0 1636.0 1675.8 45% 37 19 16 84% 1636.0 1538.0 1675.8
GCJ3 Lower Dec 1714.8 1726.7 1638.0 1678.0 45% 37 19 16 84% 1638.0 1534.5 1678.0
PAH3 Higher Dec 688.20 710.80 671.35 703.35 81% 35 21 19 90% 710.80 865.84 703.35
PAM3 Higher Dec 34.09 55.14 18.24 49.29 84% 34 20 18 90% 55.14 67.08 49.29
HGH3 Higher Dec 365.00 372.10 352.30 365.25 65% 45 26 24 92% 372.10 410.51 365.25
HGK3 Higher Dec 365.90 373.05 353.40 366.20 65% 45 24 24 100% 373.05 406.51 366.20
HGN3 Higher Dec 366.70 373.75 354.75 367.20 66% 45 25 25 100% 373.75 411.68 367.20
CLH3 Higher Dec 90.13 92.40 86.40 92.27 98% 29 15 15 100% 92.40 100.25 92.27
CLJ3 Higher Dec 90.68 92.82 87.04 92.73 98% 29 13 13 100% 92.82 102.69 92.73
CLK3 Higher Dec 91.12 93.25 87.62 93.16 98% 29 12 12 100% 93.25 102.85 93.16
CLM3 Higher Dec 91.43 93.58 88.00 93.49 98% 29 12 12 100% 93.58 102.79 93.49
CLN3 Higher Dec 91.63 93.76 88.48 93.70 99% 28 12 12 100% 93.76 102.67 93.70
HOJ3 Lower Dec 303.73 307.43 289.00 299.56 57% 33 16 14 88% 289.00 251.85 299.56
RBH3 Higher Dec 274.80 281.31 261.43 276.36 75% 27 16 16 100% 281.31 310.22 276.36
RBJ3 Higher Dec 289.15 294.49 276.34 290.05 76% 27 15 15 100% 294.49 325.02 290.05
RBK3 Higher Dec 288.61 291.89 275.78 289.40 85% 27 14 14 100% 291.89 324.14 289.40
RBM3 Higher Dec 285.95 289.73 273.37 286.22 79% 27 15 15 100% 289.73 318.07 286.22
NGH3 Lower Dec 3.573 3.750 3.337 3.365 7% 22 14 13 93% 3.337 2.732 3.365
NGJ3 Lower Dec 3.570 3.747 3.360 3.403 11% 22 14 12 86% 3.360 2.845 3.403
NGK3 Lower Dec 3.607 3.784 3.405 3.453 13% 22 14 12 86% 3.405 2.951 3.453
NGM3 Lower Dec 3.650 3.808 3.450 3.508 16% 22 13 12 92% 3.450 3.111 3.508
NGN3 Lower Dec 3.693 3.846 3.500 3.562 18% 22 13 11 85% 3.500 3.161 3.562
BOH3 Lower Dec 50.23 51.85 47.92 49.70 45% 45 28 24 86% 47.92 45.02 49.70
BOK3 Lower Dec 50.65 52.27 48.40 50.18 46% 45 23 20 87% 48.40 45.48 50.18
BOQ3 Lower Dec 50.96 52.50 48.96 50.69 49% 45 21 18 86% 48.96 46.31 50.69
BOU3 Lower Dec 50.80 52.24 49.00 50.69 52% 45 21 18 86% 49.00 46.47 50.69
KWN3 Lower Dec 922.00 933.00 832.50 847.50 15% 36 19 16 84% 832.50 796.14 847.50
RRH3 Lower Dec 15.58 15.90 15.16 15.18 3% 26 13 11 85% 15.16 13.67 15.18
LCJ3 Higher Dec 134.575 138.000 133.950 136.385 60% 45 28 27 96% 138.000 145.858 136.385
LCQ3 Higher Dec 130.135 133.135 129.700 130.200 15% 44 31 30 97% 133.135 138.670 130.200
FCH3 Higher Dec 148.430 157.235 147.735 154.280 69% 40 23 22 96% 157.235 165.809 154.280
FCJ3 Higher Dec 149.930 158.450 149.385 156.500 78% 40 24 23 96% 158.450 166.791 156.500
FCK3 Higher Dec 151.635 159.700 151.030 158.075 81% 41 23 23 100% 159.700 167.462 158.075
FCQ3 Higher Dec 156.000 163.300 155.500 162.180 86% 38 24 23 96% 163.300 171.413 162.180
JOH3 Lower Dec 123.90 144.50 117.00 117.35 1% 45 30 27 90% 117.00 105.48 117.35
JOK3 Lower Dec 125.70 144.15 118.65 119.20 2% 45 30 27 90% 118.65 106.60 119.20
JON3 Lower Dec 126.70 143.35 121.00 121.30 1% 45 28 25 89% 121.00 109.27 121.30
KCH3 Lower Dec 150.60 155.15 141.25 143.80 18% 39 16 14 88% 141.25 128.65 143.80
KCK3 Lower Dec 153.50 157.95 144.20 146.70 18% 39 16 15 94% 144.20 132.99 146.70
KCN3 Lower Dec 156.35 160.50 147.10 149.55 18% 39 15 14 93% 147.10 136.52 149.55
SBN3 Higher Dec 19.41 19.89 18.62 19.74 88% 45 24 21 88% 19.89 22.90 19.74
LBH3 Higher Dec 344.9 399.5 337.0 375.1 61% 39 25 22 88% 399.5 439.3 375.1
LBK3 Higher Dec 345.7 394.8 338.0 373.0 62% 39 26 24 92% 394.8 427.8 373.0
LBN3 Higher Dec 340.1 380.7 335.0 360.3 55% 38 24 23 96% 380.7 410.1 360.3
CTH3 Higher Dec 73.91 77.10 72.43 75.14 58% 45 28 24 86% 77.10 83.62 75.14
CTK3 Higher Dec 74.51 77.60 73.40 75.86 59% 45 28 24 86% 77.60 84.28 75.86


DJIA Index
The #DJ(Mkt) ended Higher(Cond) for December(Month). Compared to November's 13026.00(Prev Close), the market ended December at 13104.00(Month Close), that being 46%(Pct Range) off of 12884.00(Month Low) to 13366.00(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 31(Cond Years) of those years. Of those 31, the #DJ went on to exceed the December high within the next 2 months in 29 years(Action Years) or 94%(Pct) of the time.

Therefore, the historical odds are high that the the #DJ should exceed 13366.00(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 29 years) a potential move toward 14085.15(Average Objective).

Dow Jones Transportation
The #TRAN(Mkt) ended Higher(Cond) for December(Month). Compared to November's 5119.10(Prev Close), the market ended December at 5306.80(Month Close), that being 84%(Pct Range) off of 5041.60(Month Low) to 5358.30(Month High).

In comparing the November/December closes for each of the last 42 years(Total Years), Scenario found that the Dow Jones Transportation also closed higher in December than November in 30(Cond Years) of those years. Of those 30, the #TRAN went on to exceed the December high within the next 2 months in 28 years(Action Years) or 93%(Pct) of the time.

Therefore, the historical odds are high that the the #TRAN should exceed 5358.30(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 28 years) a potential move toward 5834.33(Average Objective).

S & P 100(OEX)
The #OEX(Mkt) ended Higher(Cond) for December(Month). Compared to November's 646.40(Prev Close), the market ended December at 646.60(Month Close), that being 52%(Pct Range) off of 633.95(Month Low) to 658.20(Month High).

In comparing the November/December closes for each of the last 36 years(Total Years), Scenario found that the S & P 100(OEX) also closed higher in December than November in 25(Cond Years) of those years. Of those 25, the #OEX went on to exceed the December high within the next 2 months in 23 years(Action Years) or 92%(Pct) of the time.

Therefore, the historical odds are high that the the #OEX should exceed 658.20(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 694.93(Average Objective).

Russell 2000 Index
The #RUT(Mkt) ended Higher(Cond) for December(Month). Compared to November's 821.90(Prev Close), the market ended December at 849.35(Month Close), that being 91%(Pct Range) off of 816.10(Month Low) to 852.50(Month High).

In comparing the November/December closes for each of the last 33 years(Total Years), Scenario found that the Russell 2000 Index also closed higher in December than November in 26(Cond Years) of those years. Of those 26, the #RUT went on to exceed the December high within the next 2 months in 25 years(Action Years) or 96%(Pct) of the time.

Therefore, the historical odds are high that the the #RUT should exceed 852.50(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 25 years) a potential move toward 914.64(Average Objective).

S & P Midcap 400 Index
The #MID(Mkt) ended Higher(Cond) for December(Month). Compared to November's 1000.15(Prev Close), the market ended December at 1020.45(Month Close), that being 75%(Pct Range) off of 991.90(Month Low) to 1030.15(Month High).

In comparing the November/December closes for each of the last 31 years(Total Years), Scenario found that the S & P Midcap 400 Index also closed higher in December than November in 22(Cond Years) of those years. Of those 22, the #MID went on to exceed the December high within the next 2 months in 21 years(Action Years) or 95%(Pct) of the time.

Therefore, the historical odds are high that the the #MID should exceed 1030.15(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 1084.84(Average Objective).

Value Line Index
The #VLE(Mkt) ended Higher(Cond) for December(Month). Compared to November's 3072.80(Prev Close), the market ended December at 3164.70(Month Close), that being 84%(Pct Range) off of 3047.40(Month Low) to 3187.30(Month High).

In comparing the November/December closes for each of the last 29 years(Total Years), Scenario found that the Value Line Index also closed higher in December than November in 25(Cond Years) of those years. Of those 25, the #VLE went on to exceed the December high within the next 2 months in 24 years(Action Years) or 96%(Pct) of the time.

Therefore, the historical odds are high that the the #VLE should exceed 3187.30(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 24 years) a potential move toward 3401.30(Average Objective).

Nikkei 225 Index
The #SSNI(Mkt) ended Higher(Cond) for December(Month). Compared to November's 9446(Prev Close), the market ended December at 10395(Month Close), that being 96%(Pct Range) off of 9377(Month Low) to 10434(Month High).

In comparing the November/December closes for each of the last 30 years(Total Years), Scenario found that the Nikkei 225 Index also closed higher in December than November in 21(Cond Years) of those years. Of those 21, the #SSNI went on to exceed the December 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 #SSNI should exceed 10434(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 11070(Average Objective).

S & P 500 Stock Index
The #SP(Mkt) ended Higher(Cond) for December(Month). Compared to November's 1416.20(Prev Close), the market ended December at 1426.20(Month Close), that being 56%(Pct Range) off of 1398.10(Month Low) to 1448.00(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 33(Cond Years) of those years. Of those 33, the #SP went on to exceed the December high within the next 2 months in 31 years(Action Years) or 94%(Pct) of the time.

Therefore, the historical odds are high that the the #SP should exceed 1448.00(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 31 years) a potential move toward 1518.23(Average Objective).

March S & P 500(CME)
The SPH3(Mkt) ended Higher(Cond) for December(Month). Compared to November's 1407.80(Prev Close), the market ended December at 1420.10(Month Close), that being 58%(Pct Range) off of 1384.00(Month Low) to 1445.80(Month High).

In comparing the November/December closes for each of the last 30 years(Total Years), Scenario found that the March S & P 500(CME) also closed higher in December than November in 23(Cond Years) of those years. Of those 23, SPH went on to exceed the December high within the next 2 months in 23 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the SPH should exceed 1445.80(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 1518.40(Average Objective).

June S & P 500(CME)
The SPM3(Mkt) ended Higher(Cond) for December(Month). Compared to November's 1401.10(Prev Close), the market ended December at 1413.30(Month Close), that being 63%(Pct Range) off of 1374.80(Month Low) to 1435.50(Month High).

In comparing the November/December closes for each of the last 30 years(Total Years), Scenario found that the June S & P 500(CME) also closed higher in December than November in 23(Cond Years) of those years. Of those 23, SPM 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 SPM should exceed 1435.50(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 1510.84(Average Objective).

March Eurodollars(CME)
The EDH3(Mkt) ended Higher(Cond) for December(Month). Compared to November's 99.680(Prev Close), the market ended December at 99.700(Month Close), that being 55%(Pct Range) off of 99.670(Month Low) to 99.725(Month High).

In comparing the November/December closes for each of the last 30 years(Total Years), Scenario found that the March Eurodollars(CME) also closed higher in December than November in 18(Cond Years) of those years. Of those 18, EDH went on to exceed the December 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 EDH should exceed 99.725(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 100.066(Average Objective).

June Eurodollars(CME)
The EDM3(Mkt) ended Higher(Cond) for December(Month). Compared to November's 99.665(Prev Close), the market ended December at 99.675(Month Close), that being 50%(Pct Range) off of 99.640(Month Low) to 99.710(Month High).

In comparing the November/December closes for each of the last 30 years(Total Years), Scenario found that the June Eurodollars(CME) also closed higher in December than November in 18(Cond Years) of those years. Of those 18, EDM went on to exceed the December high within the next 2 months in 18 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the EDM should exceed 99.710(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 18 years) a potential move toward 100.161(Average Objective).

March Japanese Yen(CME)
The JYH3(Mkt) ended Lower(Cond) for December(Month). Compared to November's 121.49(Prev Close), the market ended December at 115.50(Month Close), that being 3%(Pct Range) off of 115.27(Month Low) to 122.49(Month High).

In comparing the November/December closes for each of the last 36 years(Total Years), Scenario found that the March Japanese Yen(CME) also closed lower in December than November in 17(Cond Years) of those years. Of those 17, JYH went on to penetrate the December low within the next 2 months in 16 years(Action Years) or 94%(Pct) of the time.

Therefore, the historical odds are high that the JYH should penetrate 115.27(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 111.24(Average Objective).

February Gold(CMX)
The GCG3(Mkt) ended Lower(Cond) for December(Month). Compared to November's 1712.7(Prev Close), the market ended December at 1675.8(Month Close), that being 45%(Pct Range) off of 1636.0(Month Low) to 1725.0(Month High).

In comparing the November/December closes for each of the last 37 years(Total Years), Scenario found that the February Gold(CMX) also closed lower in December than November in 19(Cond Years) of those years. Of those 19, GCG went on to penetrate the December low within the next 2 months in 16 years(Action Years) or 84%(Pct) of the time.

Therefore, the historical odds are high that the GCG should penetrate 1636.0(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 1538.0(Average Objective).

April Gold(CMX)
The GCJ3(Mkt) ended Lower(Cond) for December(Month). Compared to November's 1714.8(Prev Close), the market ended December at 1678.0(Month Close), that being 45%(Pct Range) off of 1638.0(Month Low) to 1726.7(Month High).

In comparing the November/December closes for each of the last 37 years(Total Years), Scenario found that the April Gold(CMX) also closed lower in December than November in 19(Cond Years) of those years. Of those 19, GCJ went on to penetrate the December low within the next 2 months in 16 years(Action Years) or 84%(Pct) of the time.

Therefore, the historical odds are high that the GCJ should penetrate 1638.0(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 1534.5(Average Objective).

March Palladium(NYMEX)
The PAH3(Mkt) ended Higher(Cond) for December(Month). Compared to November's 688.20(Prev Close), the market ended December at 703.35(Month Close), that being 81%(Pct Range) off of 671.35(Month Low) to 710.80(Month High).

In comparing the November/December closes for each of the last 35 years(Total Years), Scenario found that the March Palladium(NYMEX) also closed higher in December than November in 21(Cond Years) of those years. Of those 21, PAH went on to exceed the December 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 PAH should exceed 710.80(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 865.84(Average Objective).

June Palladium(NYMEX)
The PAM3(Mkt) ended Higher(Cond) for December(Month). Compared to November's 34.09(Prev Close), the market ended December at 49.29(Month Close), that being 84%(Pct Range) off of 18.24(Month Low) to 55.14(Month High).

In comparing the November/December closes for each of the last 34 years(Total Years), Scenario found that the June Palladium(NYMEX) also closed higher in December than November in 20(Cond Years) of those years. Of those 20, PAM went on to exceed the December high within the next 2 months in 18 years(Action Years) or 90%(Pct) of the time.

Therefore, the historical odds are high that the PAM should exceed 55.14(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 18 years) a potential move toward 67.08(Average Objective).

March Copper(CMX)
The HGH3(Mkt) ended Higher(Cond) for December(Month). Compared to November's 365.00(Prev Close), the market ended December at 365.25(Month Close), that being 65%(Pct Range) off of 352.30(Month Low) to 372.10(Month High).

In comparing the November/December closes for each of the last 45 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 24 years(Action Years) or 92%(Pct) of the time.

Therefore, the historical odds are high that the HGH should exceed 372.10(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 24 years) a potential move toward 410.51(Average Objective).

May Copper(CMX)
The HGK3(Mkt) ended Higher(Cond) for December(Month). Compared to November's 365.90(Prev Close), the market ended December at 366.20(Month Close), that being 65%(Pct Range) off of 353.40(Month Low) to 373.05(Month High).

In comparing the November/December closes for each of the last 45 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 24 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the HGK should exceed 373.05(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 24 years) a potential move toward 406.51(Average Objective).

July Copper(CMX)
The HGN3(Mkt) ended Higher(Cond) for December(Month). Compared to November's 366.70(Prev Close), the market ended December at 367.20(Month Close), that being 66%(Pct Range) off of 354.75(Month Low) to 373.75(Month High).

In comparing the November/December closes for each of the last 45 years(Total Years), Scenario found that the July Copper(CMX) also closed higher in December than November in 25(Cond Years) of those years. Of those 25, HGN went on to exceed the December high within the next 2 months in 25 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the HGN should exceed 373.75(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 25 years) a potential move toward 411.68(Average Objective).

March Crude Oil(NYM)
The CLH3(Mkt) ended Higher(Cond) for December(Month). Compared to November's 90.13(Prev Close), the market ended December at 92.27(Month Close), that being 98%(Pct Range) off of 86.40(Month Low) to 92.40(Month High).

In comparing the November/December closes for each of the last 29 years(Total Years), Scenario found that the March Crude Oil(NYM) also closed higher in December than November in 15(Cond Years) of those years. Of those 15, CLH 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 CLH should exceed 92.40(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 100.25(Average Objective).

April Crude Oil(NYM)
The CLJ3(Mkt) ended Higher(Cond) for December(Month). Compared to November's 90.68(Prev Close), the market ended December at 92.73(Month Close), that being 98%(Pct Range) off of 87.04(Month Low) to 92.82(Month High).

In comparing the November/December closes for each of the last 29 years(Total Years), Scenario found that the April Crude Oil(NYM) also closed higher in December than November in 13(Cond Years) of those years. Of those 13, CLJ went on to exceed the December high within the next 2 months in 13 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the CLJ should exceed 92.82(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 13 years) a potential move toward 102.69(Average Objective).

May Crude Oil(NYM)
The CLK3(Mkt) ended Higher(Cond) for December(Month). Compared to November's 91.12(Prev Close), the market ended December at 93.16(Month Close), that being 98%(Pct Range) off of 87.62(Month Low) to 93.25(Month High).

In comparing the November/December closes for each of the last 29 years(Total Years), Scenario found that the May Crude Oil(NYM) also closed higher in December than November in 12(Cond Years) of those years. Of those 12, CLK went on to exceed the December high within the next 2 months in 12 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the CLK should exceed 93.25(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 102.85(Average Objective).

June Crude Oil(NYM)
The CLM3(Mkt) ended Higher(Cond) for December(Month). Compared to November's 91.43(Prev Close), the market ended December at 93.49(Month Close), that being 98%(Pct Range) off of 88.00(Month Low) to 93.58(Month High).

In comparing the November/December closes for each of the last 29 years(Total Years), Scenario found that the June Crude Oil(NYM) also closed higher in December than November in 12(Cond Years) of those years. Of those 12, CLM went on to exceed the December high within the next 2 months in 12 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the CLM should exceed 93.58(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 102.79(Average Objective).

July Crude Oil(NYM)
The CLN3(Mkt) ended Higher(Cond) for December(Month). Compared to November's 91.63(Prev Close), the market ended December at 93.70(Month Close), that being 99%(Pct Range) off of 88.48(Month Low) to 93.76(Month High).

In comparing the November/December closes for each of the last 28 years(Total Years), Scenario found that the July Crude Oil(NYM) also closed higher in December than November in 12(Cond Years) of those years. Of those 12, CLN went on to exceed the December high within the next 2 months in 12 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the CLN should exceed 93.76(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 102.67(Average Objective).

April Heating Oil(NYM)
The HOJ3(Mkt) ended Lower(Cond) for December(Month). Compared to November's 303.73(Prev Close), the market ended December at 299.56(Month Close), that being 57%(Pct Range) off of 289.00(Month Low) to 307.43(Month High).

In comparing the November/December closes for each of the last 33 years(Total Years), Scenario found that the April Heating Oil(NYM) also closed lower in December than November in 16(Cond Years) of those years. Of those 16, HOJ 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 HOJ should penetrate 289.00(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 251.85(Average Objective).

March Gasoline(NYMEX)
The RBH3(Mkt) ended Higher(Cond) for December(Month). Compared to November's 274.80(Prev Close), the market ended December at 276.36(Month Close), that being 75%(Pct Range) off of 261.43(Month Low) to 281.31(Month High).

In comparing the November/December closes for each of the last 27 years(Total Years), Scenario found that the March Gasoline(NYMEX) also closed higher in December than November in 16(Cond Years) of those years. Of those 16, RBH 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 RBH should exceed 281.31(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 310.22(Average Objective).

April Gasoline(NYMEX)
The RBJ3(Mkt) ended Higher(Cond) for December(Month). Compared to November's 289.15(Prev Close), the market ended December at 290.05(Month Close), that being 76%(Pct Range) off of 276.34(Month Low) to 294.49(Month High).

In comparing the November/December closes for each of the last 27 years(Total Years), Scenario found that the April Gasoline(NYMEX) also closed higher in December than November in 15(Cond Years) of those years. Of those 15, RBJ 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 RBJ should exceed 294.49(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 325.02(Average Objective).

May Gasoline(NYMEX)
The RBK3(Mkt) ended Higher(Cond) for December(Month). Compared to November's 288.61(Prev Close), the market ended December at 289.40(Month Close), that being 85%(Pct Range) off of 275.78(Month Low) to 291.89(Month High).

In comparing the November/December closes for each of the last 27 years(Total Years), Scenario found that the May Gasoline(NYMEX) also closed higher in December than November in 14(Cond Years) of those years. Of those 14, RBK 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 RBK should exceed 291.89(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 324.14(Average Objective).

June Gasoline(NYMEX)
The RBM3(Mkt) ended Higher(Cond) for December(Month). Compared to November's 285.95(Prev Close), the market ended December at 286.22(Month Close), that being 79%(Pct Range) off of 273.37(Month Low) to 289.73(Month High).

In comparing the November/December closes for each of the last 27 years(Total Years), Scenario found that the June Gasoline(NYMEX) also closed higher in December than November in 15(Cond Years) of those years. Of those 15, RBM 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 RBM should exceed 289.73(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 318.07(Average Objective).

March Natural Gas(NYM)
The NGH3(Mkt) ended Lower(Cond) for December(Month). Compared to November's 3.573(Prev Close), the market ended December at 3.365(Month Close), that being 7%(Pct Range) off of 3.337(Month Low) to 3.750(Month High).

In comparing the November/December closes for each of the last 22 years(Total Years), Scenario found that the March Natural Gas(NYM) also closed lower in December than November in 14(Cond Years) of those years. Of those 14, NGH went on to penetrate the December 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 NGH should penetrate 3.337(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 13 years) a potential move toward 2.732(Average Objective).

April Natural Gas(NYM)
The NGJ3(Mkt) ended Lower(Cond) for December(Month). Compared to November's 3.570(Prev Close), the market ended December at 3.403(Month Close), that being 11%(Pct Range) off of 3.360(Month Low) to 3.747(Month High).

In comparing the November/December closes for each of the last 22 years(Total Years), Scenario found that the April Natural Gas(NYM) also closed lower in December than November in 14(Cond Years) of those years. Of those 14, NGJ went on to penetrate the December low within the next 2 months in 12 years(Action Years) or 86%(Pct) of the time.

Therefore, the historical odds are high that the NGJ should penetrate 3.360(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 2.845(Average Objective).

May Natural Gas(NYM)
The NGK3(Mkt) ended Lower(Cond) for December(Month). Compared to November's 3.607(Prev Close), the market ended December at 3.453(Month Close), that being 13%(Pct Range) off of 3.405(Month Low) to 3.784(Month High).

In comparing the November/December closes for each of the last 22 years(Total Years), Scenario found that the May Natural Gas(NYM) also closed lower in December than November in 14(Cond Years) of those years. Of those 14, NGK went on to penetrate the December low within the next 2 months in 12 years(Action Years) or 86%(Pct) of the time.

Therefore, the historical odds are high that the NGK should penetrate 3.405(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 2.951(Average Objective).

June Natural Gas(NYM)
The NGM3(Mkt) ended Lower(Cond) for December(Month). Compared to November's 3.650(Prev Close), the market ended December at 3.508(Month Close), that being 16%(Pct Range) off of 3.450(Month Low) to 3.808(Month High).

In comparing the November/December closes for each of the last 22 years(Total Years), Scenario found that the June Natural Gas(NYM) also closed lower in December than November in 13(Cond Years) of those years. Of those 13, NGM went on to penetrate the December low within the next 2 months in 12 years(Action Years) or 92%(Pct) of the time.

Therefore, the historical odds are high that the NGM should penetrate 3.450(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 3.111(Average Objective).

July Natural Gas(NYM)
The NGN3(Mkt) ended Lower(Cond) for December(Month). Compared to November's 3.693(Prev Close), the market ended December at 3.562(Month Close), that being 18%(Pct Range) off of 3.500(Month Low) to 3.846(Month High).

In comparing the November/December closes for each of the last 22 years(Total Years), Scenario found that the July Natural Gas(NYM) also closed lower in December than November in 13(Cond Years) of those years. Of those 13, NGN went on to penetrate the December low within the next 2 months in 11 years(Action Years) or 85%(Pct) of the time.

Therefore, the historical odds are high that the NGN should penetrate 3.500(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 3.161(Average Objective).

March Soybean Oil(CBOT)
The BOH3(Mkt) ended Lower(Cond) for December(Month). Compared to November's 50.23(Prev Close), the market ended December at 49.70(Month Close), that being 45%(Pct Range) off of 47.92(Month Low) to 51.85(Month High).

In comparing the November/December closes for each of the last 45 years(Total Years), Scenario found that the March Soybean Oil(CBOT) also closed lower in December than November in 28(Cond Years) of those years. Of those 28, BOH went on to penetrate the December low within the next 2 months in 24 years(Action Years) or 86%(Pct) of the time.

Therefore, the historical odds are high that the BOH should penetrate 47.92(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 24 years) a potential move toward 45.02(Average Objective).

May Soybean Oil(CBOT)
The BOK3(Mkt) ended Lower(Cond) for December(Month). Compared to November's 50.65(Prev Close), the market ended December at 50.18(Month Close), that being 46%(Pct Range) off of 48.40(Month Low) to 52.27(Month High).

In comparing the November/December closes for each of the last 45 years(Total Years), Scenario found that the May Soybean Oil(CBOT) also closed lower in December than November in 23(Cond Years) of those years. Of those 23, BOK went on to penetrate the December 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 BOK should penetrate 48.40(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 20 years) a potential move toward 45.48(Average Objective).

August Soybean Oil(CBOT)
The BOQ3(Mkt) ended Lower(Cond) for December(Month). Compared to November's 50.96(Prev Close), the market ended December at 50.69(Month Close), that being 49%(Pct Range) off of 48.96(Month Low) to 52.50(Month High).

In comparing the November/December closes for each of the last 45 years(Total Years), Scenario found that the August Soybean Oil(CBOT) also closed lower in December than November in 21(Cond Years) of those years. Of those 21, BOQ went on to penetrate the December low within the next 2 months in 18 years(Action Years) or 86%(Pct) of the time.

Therefore, the historical odds are high that the BOQ should penetrate 48.96(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 18 years) a potential move toward 46.31(Average Objective).

September Soybean Oil(CBOT)
The BOU3(Mkt) ended Lower(Cond) for December(Month). Compared to November's 50.80(Prev Close), the market ended December at 50.69(Month Close), that being 52%(Pct Range) off of 49.00(Month Low) to 52.24(Month High).

In comparing the November/December closes for each of the last 45 years(Total Years), Scenario found that the September Soybean Oil(CBOT) also closed lower in December than November in 21(Cond Years) of those years. Of those 21, BOU went on to penetrate the December low within the next 2 months in 18 years(Action Years) or 86%(Pct) of the time.

Therefore, the historical odds are high that the BOU should penetrate 49.00(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 18 years) a potential move toward 46.47(Average Objective).

July Wheat(KCBT)
The KWN3(Mkt) ended Lower(Cond) for December(Month). Compared to November's 922.00(Prev Close), the market ended December at 847.50(Month Close), that being 15%(Pct Range) off of 832.50(Month Low) to 933.00(Month High).

In comparing the November/December closes for each of the last 36 years(Total Years), Scenario found that the July Wheat(KCBT) also closed lower in December than November in 19(Cond Years) of those years. Of those 19, KWN went on to penetrate the December low within the next 2 months in 16 years(Action Years) or 84%(Pct) of the time.

Therefore, the historical odds are high that the KWN should penetrate 832.50(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 796.14(Average Objective).

March Rough Rice(CBOT)
The RRH3(Mkt) ended Lower(Cond) for December(Month). Compared to November's 15.58(Prev Close), the market ended December at 15.18(Month Close), that being 3%(Pct Range) off of 15.16(Month Low) to 15.90(Month High).

In comparing the November/December closes for each of the last 26 years(Total Years), Scenario found that the March Rough Rice(CBOT) also closed lower in December than November in 13(Cond Years) of those years. Of those 13, RRH went on to penetrate the December low within the next 2 months in 11 years(Action Years) or 85%(Pct) of the time.

Therefore, the historical odds are high that the RRH should penetrate 15.16(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 13.67(Average Objective).

April Live Cattle(CME)
The LCJ3(Mkt) ended Higher(Cond) for December(Month). Compared to November's 134.575(Prev Close), the market ended December at 136.385(Month Close), that being 60%(Pct Range) off of 133.950(Month Low) to 138.000(Month High).

In comparing the November/December closes for each of the last 45 years(Total Years), Scenario found that the April Live Cattle(CME) also closed higher in December than November in 28(Cond Years) of those years. Of those 28, LCJ went on to exceed the December high within the next 2 months in 27 years(Action Years) or 96%(Pct) of the time.

Therefore, the historical odds are high that the LCJ should exceed 138.000(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 27 years) a potential move toward 145.858(Average Objective).

August Live Cattle(CME)
The LCQ3(Mkt) ended Higher(Cond) for December(Month). Compared to November's 130.135(Prev Close), the market ended December at 130.200(Month Close), that being 15%(Pct Range) off of 129.700(Month Low) to 133.135(Month High).

In comparing the November/December closes for each of the last 44 years(Total Years), Scenario found that the August Live Cattle(CME) also closed higher in December than November in 31(Cond Years) of those years. Of those 31, LCQ went on to exceed the December high within the next 2 months in 30 years(Action Years) or 97%(Pct) of the time.

Therefore, the historical odds are high that the LCQ should exceed 133.135(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 138.670(Average Objective).

March Feeder Cattle(CME)
The FCH3(Mkt) ended Higher(Cond) for December(Month). Compared to November's 148.430(Prev Close), the market ended December at 154.280(Month Close), that being 69%(Pct Range) off of 147.735(Month Low) to 157.235(Month High).

In comparing the November/December closes for each of the last 40 years(Total Years), Scenario found that the March Feeder Cattle(CME) also closed higher in December than November in 23(Cond Years) of those years. Of those 23, FCH 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 FCH should exceed 157.235(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 165.809(Average Objective).

April Feeder Cattle(CME)
The FCJ3(Mkt) ended Higher(Cond) for December(Month). Compared to November's 149.930(Prev Close), the market ended December at 156.500(Month Close), that being 78%(Pct Range) off of 149.385(Month Low) to 158.450(Month High).

In comparing the November/December closes for each of the last 40 years(Total Years), Scenario found that the April Feeder Cattle(CME) also closed higher in December than November in 24(Cond Years) of those years. Of those 24, FCJ 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 FCJ should exceed 158.450(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 166.791(Average Objective).

May Feeder Cattle(CME)
The FCK3(Mkt) ended Higher(Cond) for December(Month). Compared to November's 151.635(Prev Close), the market ended December at 158.075(Month Close), that being 81%(Pct Range) off of 151.030(Month Low) to 159.700(Month High).

In comparing the November/December closes for each of the last 41 years(Total Years), Scenario found that the May Feeder Cattle(CME) also closed higher in December than November in 23(Cond Years) of those years. Of those 23, FCK went on to exceed the December high within the next 2 months in 23 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the FCK should exceed 159.700(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 167.462(Average Objective).

August Feeder Cattle(CME)
The FCQ3(Mkt) ended Higher(Cond) for December(Month). Compared to November's 156.000(Prev Close), the market ended December at 162.180(Month Close), that being 86%(Pct Range) off of 155.500(Month Low) to 163.300(Month High).

In comparing the November/December closes for each of the last 38 years(Total Years), Scenario found that the August Feeder Cattle(CME) also closed higher in December than November in 24(Cond Years) of those years. Of those 24, FCQ 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 FCQ should exceed 163.300(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 171.413(Average Objective).

March Orange Juice(ICE)
The JOH3(Mkt) ended Lower(Cond) for December(Month). Compared to November's 123.90(Prev Close), the market ended December at 117.35(Month Close), that being 1%(Pct Range) off of 117.00(Month Low) to 144.50(Month High).

In comparing the November/December closes for each of the last 45 years(Total Years), Scenario found that the March Orange Juice(ICE) also closed lower in December than November in 30(Cond Years) of those years. Of those 30, JOH went on to penetrate the December low within the next 2 months in 27 years(Action Years) or 90%(Pct) of the time.

Therefore, the historical odds are high that the JOH should penetrate 117.00(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 27 years) a potential move toward 105.48(Average Objective).

May Orange Juice(ICE)
The JOK3(Mkt) ended Lower(Cond) for December(Month). Compared to November's 125.70(Prev Close), the market ended December at 119.20(Month Close), that being 2%(Pct Range) off of 118.65(Month Low) to 144.15(Month High).

In comparing the November/December closes for each of the last 45 years(Total Years), Scenario found that the May Orange Juice(ICE) also closed lower in December than November in 30(Cond Years) of those years. Of those 30, JOK went on to penetrate the December low within the next 2 months in 27 years(Action Years) or 90%(Pct) of the time.

Therefore, the historical odds are high that the JOK should penetrate 118.65(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 27 years) a potential move toward 106.60(Average Objective).

July Orange Juice(ICE)
The JON3(Mkt) ended Lower(Cond) for December(Month). Compared to November's 126.70(Prev Close), the market ended December at 121.30(Month Close), that being 1%(Pct Range) off of 121.00(Month Low) to 143.35(Month High).

In comparing the November/December closes for each of the last 45 years(Total Years), Scenario found that the July Orange Juice(ICE) also closed lower in December than November in 28(Cond Years) of those years. Of those 28, JON went on to penetrate the December low within the next 2 months in 25 years(Action Years) or 89%(Pct) of the time.

Therefore, the historical odds are high that the JON should penetrate 121.00(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 25 years) a potential move toward 109.27(Average Objective).

March Coffee "C"(ICE)
The KCH3(Mkt) ended Lower(Cond) for December(Month). Compared to November's 150.60(Prev Close), the market ended December at 143.80(Month Close), that being 18%(Pct Range) off of 141.25(Month Low) to 155.15(Month High).

In comparing the November/December closes for each of the last 39 years(Total Years), Scenario found that the March Coffee "C"(ICE) also closed lower in December than November in 16(Cond Years) of those years. Of those 16, KCH 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 KCH should penetrate 141.25(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 128.65(Average Objective).

May Coffee "C"(ICE)
The KCK3(Mkt) ended Lower(Cond) for December(Month). Compared to November's 153.50(Prev Close), the market ended December at 146.70(Month Close), that being 18%(Pct Range) off of 144.20(Month Low) to 157.95(Month High).

In comparing the November/December closes for each of the last 39 years(Total Years), Scenario found that the May Coffee "C"(ICE) also closed lower in December than November in 16(Cond Years) of those years. Of those 16, KCK went on to penetrate the December low within the next 2 months in 15 years(Action Years) or 94%(Pct) of the time.

Therefore, the historical odds are high that the KCK should penetrate 144.20(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 132.99(Average Objective).

July Coffee "C"(ICE)
The KCN3(Mkt) ended Lower(Cond) for December(Month). Compared to November's 156.35(Prev Close), the market ended December at 149.55(Month Close), that being 18%(Pct Range) off of 147.10(Month Low) to 160.50(Month High).

In comparing the November/December closes for each of the last 39 years(Total Years), Scenario found that the July Coffee "C"(ICE) also closed lower in December than November in 15(Cond Years) of those years. Of those 15, KCN went on to penetrate the December low within the next 2 months in 14 years(Action Years) or 93%(Pct) of the time.

Therefore, the historical odds are high that the KCN should penetrate 147.10(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 136.52(Average Objective).

July Sugar #11(ICE)
The SBN3(Mkt) ended Higher(Cond) for December(Month). Compared to November's 19.41(Prev Close), the market ended December at 19.74(Month Close), that being 88%(Pct Range) off of 18.62(Month Low) to 19.89(Month High).

In comparing the November/December closes for each of the last 45 years(Total Years), Scenario found that the July Sugar #11(ICE) also closed higher in December than November in 24(Cond Years) of those years. Of those 24, SBN went on to exceed the December high within the next 2 months in 21 years(Action Years) or 88%(Pct) of the time.

Therefore, the historical odds are high that the SBN should exceed 19.89(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 22.90(Average Objective).

March Lumber(CME)
The LBH3(Mkt) ended Higher(Cond) for December(Month). Compared to November's 344.9(Prev Close), the market ended December at 375.1(Month Close), that being 61%(Pct Range) off of 337.0(Month Low) to 399.5(Month High).

In comparing the November/December closes for each of the last 39 years(Total Years), Scenario found that the March Lumber(CME) also closed higher in December than November in 25(Cond Years) of those years. Of those 25, LBH went on to exceed the December high within the next 2 months in 22 years(Action Years) or 88%(Pct) of the time.

Therefore, the historical odds are high that the LBH should exceed 399.5(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 439.3(Average Objective).

May Lumber(CME)
The LBK3(Mkt) ended Higher(Cond) for December(Month). Compared to November's 345.7(Prev Close), the market ended December at 373.0(Month Close), that being 62%(Pct Range) off of 338.0(Month Low) to 394.8(Month High).

In comparing the November/December closes for each of the last 39 years(Total Years), Scenario found that the May Lumber(CME) also closed higher in December than November in 26(Cond Years) of those years. Of those 26, LBK went on to exceed the December high within the next 2 months in 24 years(Action Years) or 92%(Pct) of the time.

Therefore, the historical odds are high that the LBK should exceed 394.8(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 24 years) a potential move toward 427.8(Average Objective).

July Lumber(CME)
The LBN3(Mkt) ended Higher(Cond) for December(Month). Compared to November's 340.1(Prev Close), the market ended December at 360.3(Month Close), that being 55%(Pct Range) off of 335.0(Month Low) to 380.7(Month High).

In comparing the November/December closes for each of the last 38 years(Total Years), Scenario found that the July Lumber(CME) also closed higher in December than November in 24(Cond Years) of those years. Of those 24, LBN 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 LBN should exceed 380.7(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 410.1(Average Objective).

March Cotton(ICE)
The CTH3(Mkt) ended Higher(Cond) for December(Month). Compared to November's 73.91(Prev Close), the market ended December at 75.14(Month Close), that being 58%(Pct Range) off of 72.43(Month Low) to 77.10(Month High).

In comparing the November/December closes for each of the last 45 years(Total Years), Scenario found that the March Cotton(ICE) also closed higher in December than November in 28(Cond Years) of those years. Of those 28, CTH went on to exceed the December high within the next 2 months in 24 years(Action Years) or 86%(Pct) of the time.

Therefore, the historical odds are high that the CTH should exceed 77.10(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 24 years) a potential move toward 83.62(Average Objective).

May Cotton(ICE)
The CTK3(Mkt) ended Higher(Cond) for December(Month). Compared to November's 74.51(Prev Close), the market ended December at 75.86(Month Close), that being 59%(Pct Range) off of 73.40(Month Low) to 77.60(Month High).

In comparing the November/December closes for each of the last 45 years(Total Years), Scenario found that the May Cotton(ICE) also closed higher in December than November in 28(Cond Years) of those years. Of those 28, CTK went on to exceed the December high within the next 2 months in 24 years(Action Years) or 86%(Pct) of the time.

Therefore, the historical odds are high that the CTK should exceed 77.60(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 24 years) a potential move toward 84.28(Average Objective).
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