MRCI's Scenario Summary

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MRCI's Scenario^SM Summary

Copyright © 1989- Moore Research Center, Inc. All Rights Reserved.

Scenario^SM Summary Jul 31, 2020

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

#UTIL Higher Jul 767.50 841.35 763.50 830.75 86% 45 27 25 93% 841.35 873.63 830.75

#OEX Higher Jul 116.51 203.72 118.84 194.21 89% 44 22 19 86% 203.72 212.72 194.21

#QR Higher Jul 1441.35 1507.25 1384.10 1467.55 68% 41 21 19 90% Yes 1585.66 1467.55

#VLE Higher Jul 5914.50 6269.50 5719.30 6208.10 89% 37 20 19 95% Yes 6512.36 6208.10

#SP Higher Jul 3100.25 3280.00 3101.25 3271.00 95% 45 22 20 91% 3280.00 3411.66 3271.00

SPZ0 Higher Jul 3080.00 3254.75 3092.75 3253.00 99% 38 19 16 84% 3254.75 3373.46 3253.00

YMZ0 Higher Jul 25566 26930 25184 26193 58% 21 13 11 85% 26930 27987 26193

USZ0 Higher Jul 177~150 181~020 175~300 180~210 92% 42 24 22 92% 181~020 189~193 180~210

TYZ0 Higher Jul 139~050 140~025 138~220 140~005 96% 38 24 22 92% 140~025 144~140 140~005

FVZ0 Higher Jul 125~236 126~090 125~204 126~086 99% 32 20 19 95% 126~090 128~183 126~086

TUZ0 Higher Jul 110~132 110~166 110~097 110~166 100% 20 11 10 91% 110~166 111~010 110~166

EDZ0 Higher Jul 99.710 99.750 99.685 99.745 92% 38 23 23 100% 99.750 100.172 99.745

EDH1 Higher Jul 99.800 99.835 99.780 99.825 82% 38 22 20 91% 99.835 100.399 99.825

ADZ0 Higher Jul 68.99 72.28 68.80 71.48 77% 32 16 14 88% 72.28 74.35 71.48

EUZ0 Higher Jul 112.77 119.42 112.26 118.21 83% 21 10 9 90% 119.42 122.81 118.21

JYZ0 Higher Jul 92.84 96.12 92.67 94.70 59% 43 19 17 89% 96.12 99.60 94.70

SFZ0 Higher Jul 106.10 110.77 105.87 109.83 81% 45 18 17 94% 110.77 116.47 109.83

DXZ0 Lower Jul 97.360 97.580 92.520 93.340 16% 34 17 15 88% 92.520 90.136 93.340

SIZ0 Higher Jul 1880.3 2651.5 1822.5 2446.9 75% 45 25 21 84% 2651.5 2940.3 2446.9

PAZ0 Higher Jul 1962.50 2411.40 1900.00 2157.80 50% 42 25 21 84% 2411.40 2644.46 2157.80

CLX0 Higher Jul 39.58 42.75 39.25 40.91 47% 37 23 21 91% 42.75 46.58 40.91

CLZ0 Higher Jul 39.68 42.85 39.38 41.22 53% 37 23 21 91% 42.85 46.54 41.22

HOX0 Higher Jul 123.92 132.52 121.00 125.75 41% 41 24 21 88% 132.52 145.59 125.75

HOZ0 Higher Jul 125.26 133.68 122.85 127.54 43% 41 25 21 84% 133.68 146.27 127.54

HOF1 Higher Jul 126.60 134.88 124.73 129.22 44% 41 25 21 84% 134.88 146.89 129.22

RBX0 Higher Jul 108.67 117.30 105.00 108.95 32% 35 22 20 91% 117.30 128.01 108.95

RBZ0 Higher Jul 107.54 115.97 104.52 108.49 35% 35 22 20 91% 115.97 125.56 108.49

RBF1 Higher Jul 107.69 116.10 105.65 109.15 33% 34 23 21 91% 116.10 125.37 109.15

NGF1 Higher Jul 2.883 3.019 2.785 2.915 56% 30 11 10 91% 3.019 3.398 2.915

CBZ0 Higher Jul 41.76 45.55 41.41 44.17 67% 30 20 19 95% 45.55 50.31 44.17

CBF1 Higher Jul 41.95 45.75 41.61 44.47 69% 30 20 19 95% 45.75 50.16 44.47

CBG1 Higher Jul 42.16 45.95 41.84 44.78 72% 29 18 17 94% 45.95 49.92 44.78

KWH1 Lower Jul 464.25 485.25 455.00 463.75 29% 44 22 20 91% 455.00 413.83 463.75

LCV0 Higher Jul 99.730 108.000 99.530 107.885 99% 45 27 23 85% 108.000 112.814 107.885

HEV0 Higher Jul 49.350 52.080 47.600 49.630 45% 45 23 21 91% 52.080 55.796 49.630

KCZ0 Higher Jul 103.45 122.05 98.95 121.60 98% 45 17 15 88% 122.05 132.03 121.60

LBX0 Higher Jul 419.8 537.2 418.6 528.0 92% 45 15 13 87% 537.2 599.8 528.0

LBF1 Higher Jul 410.0 518.4 408.9 510.0 92% 45 15 13 87% 518.4 567.6 510.0

CTZ0 Higher Jul 60.88 64.90 59.51 62.66 58% 45 21 18 86% 64.90 70.27 62.66

RRX0 Lower Jul 12.02 12.08 11.22 11.64 49% 33 14 12 86% 11.22 10.23 11.64

RRF1 Lower Jul 12.15 12.17 11.55 11.78 36% 33 14 12 86% 11.55 10.63 11.78

Dow Jones Utilities: The #UTIL(Mkt) ended Higher(Cond) for July(Month). Compared to June's 767.50(Prev Close), the market ended July at 830.75(Month Close), that being 86%(Pct Range) off of 763.50(Month Low) to 841.35(Month High).

In comparing the June/July closes for each of the last 45 years(Total Years), Scenario found that the Dow Jones Utilities also closed higher in July than June in 27(Cond Years) of those years. Of those 27, the #UTIL went on to exceed the July high within the next 2 months in 25 years(Action Years) or 93%(Pct) of the time.

Therefore, the historical odds are high that the the #UTIL should exceed 841.35(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 25 years) a potential move toward 873.63(Average Objective).
S & P 100(OEX): The #OEX(Mkt) ended Higher(Cond) for July(Month). Compared to June's 116.51(Prev Close), the market ended July at 194.21(Month Close), that being 89%(Pct Range) off of 118.84(Month Low) to 203.72(Month High).

In comparing the June/July closes for each of the last 44 years(Total Years), Scenario found that the S & P 100(OEX) also closed higher in July than June in 22(Cond Years) of those years. Of those 22, the #OEX went on to exceed the July 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 #OEX should exceed 203.72(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 19 years) a potential move toward 212.72(Average Objective).
Russell 2000 Index: The #QR(Mkt) ended Higher(Cond) for July(Month). Compared to June's 1441.35(Prev Close), the market ended July at 1467.55(Month Close), that being 68%(Pct Range) off of 1384.10(Month Low) to 1507.25(Month High).

In comparing the June/July closes for each of the last 41 years(Total Years), Scenario found that the Russell 2000 Index also closed higher in July than June in 21(Cond Years) of those years. Of those 21, the #QR went on to exceed the July 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 #QR should exceed 1507.25(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 19 years) a potential move toward 1585.66(Average Objective).
Value Line Index: The #VLE(Mkt) ended Higher(Cond) for July(Month). Compared to June's 5914.50(Prev Close), the market ended July at 6208.10(Month Close), that being 89%(Pct Range) off of 5719.30(Month Low) to 6269.50(Month High).

In comparing the June/July closes for each of the last 37 years(Total Years), Scenario found that the Value Line Index also closed higher in July than June in 20(Cond Years) of those years. Of those 20, the #VLE went on to exceed the July high within the next 2 months in 19 years(Action Years) or 95%(Pct) of the time.

Therefore, the historical odds are high that the the #VLE should exceed 6269.50(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 19 years) a potential move toward 6512.36(Average Objective).
S & P 500 Stock Index: The #SP(Mkt) ended Higher(Cond) for July(Month). Compared to June's 3100.25(Prev Close), the market ended July at 3271.00(Month Close), that being 95%(Pct Range) off of 3101.25(Month Low) to 3280.00(Month High).

In comparing the June/July closes for each of the last 45 years(Total Years), Scenario found that the S & P 500 Stock Index also closed higher in July than June in 22(Cond Years) of those years. Of those 22, the #SP went on to exceed the July high within the next 2 months in 20 years(Action Years) or 91%(Pct) of the time.

Therefore, the historical odds are high that the the #SP should exceed 3280.00(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 20 years) a potential move toward 3411.66(Average Objective).
December S & P 500(CME): The SPZ0(Mkt) ended Higher(Cond) for July(Month). Compared to June's 3080.00(Prev Close), the market ended July at 3253.00(Month Close), that being 99%(Pct Range) off of 3092.75(Month Low) to 3254.75(Month High).

In comparing the June/July closes for each of the last 38 years(Total Years), Scenario found that the December S & P 500(CME) also closed higher in July than June in 19(Cond Years) of those years. Of those 19, SPZ went on to exceed the July 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 SPZ should exceed 3254.75(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 16 years) a potential move toward 3373.46(Average Objective).
December E-mini DJIA Index(CBOT): The YMZ0(Mkt) ended Higher(Cond) for July(Month). Compared to June's 25566(Prev Close), the market ended July at 26193(Month Close), that being 58%(Pct Range) off of 25184(Month Low) to 26930(Month High).

In comparing the June/July closes for each of the last 21 years(Total Years), Scenario found that the December E-mini DJIA Index(CBOT) also closed higher in July than June in 13(Cond Years) of those years. Of those 13, YMZ went on to exceed the July high within the next 2 months in 11 years(Action Years) or 85%(Pct) of the time.

Therefore, the historical odds are high that the YMZ should exceed 26930(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 11 years) a potential move toward 27987(Average Objective).
December 30-Year T-Bonds(CBOT): The USZ0(Mkt) ended Higher(Cond) for July(Month). Compared to June's 177~150(Prev Close), the market ended July at 180~210(Month Close), that being 92%(Pct Range) off of 175~300(Month Low) to 181~020(Month High).

In comparing the June/July closes for each of the last 42 years(Total Years), Scenario found that the December 30-Year T-Bonds(CBOT) also closed higher in July than June in 24(Cond Years) of those years. Of those 24, USZ went on to exceed the July high within the next 2 months in 22 years(Action Years) or 92%(Pct) of the time.

Therefore, the historical odds are high that the USZ should exceed 181~020(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 22 years) a potential move toward 189~193(Average Objective).
December 10-Year T-Notes(CBOT): The TYZ0(Mkt) ended Higher(Cond) for July(Month). Compared to June's 139~050(Prev Close), the market ended July at 140~005(Month Close), that being 96%(Pct Range) off of 138~220(Month Low) to 140~025(Month High).

In comparing the June/July closes for each of the last 38 years(Total Years), Scenario found that the December 10-Year T-Notes(CBOT) also closed higher in July than June in 24(Cond Years) of those years. Of those 24, TYZ went on to exceed the July high within the next 2 months in 22 years(Action Years) or 92%(Pct) of the time.

Therefore, the historical odds are high that the TYZ should exceed 140~025(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 22 years) a potential move toward 144~140(Average Objective).
December 5-Year T-Notes(CBOT): The FVZ0(Mkt) ended Higher(Cond) for July(Month). Compared to June's 125~236(Prev Close), the market ended July at 126~086(Month Close), that being 99%(Pct Range) off of 125~204(Month Low) to 126~090(Month High).

In comparing the June/July closes for each of the last 32 years(Total Years), Scenario found that the December 5-Year T-Notes(CBOT) also closed higher in July than June in 20(Cond Years) of those years. Of those 20, FVZ went on to exceed the July high within the next 2 months in 19 years(Action Years) or 95%(Pct) of the time.

Therefore, the historical odds are high that the FVZ should exceed 126~090(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 19 years) a potential move toward 128~183(Average Objective).
December 2 Year T-Notes(CBOT): The TUZ0(Mkt) ended Higher(Cond) for July(Month). Compared to June's 110~132(Prev Close), the market ended July at 110~166(Month Close), that being 100%(Pct Range) off of 110~097(Month Low) to 110~166(Month High).

In comparing the June/July closes for each of the last 20 years(Total Years), Scenario found that the December 2 Year T-Notes(CBOT) also closed higher in July than June in 11(Cond Years) of those years. Of those 11, TUZ went on to exceed the July high within the next 2 months in 10 years(Action Years) or 91%(Pct) of the time.

Therefore, the historical odds are high that the TUZ should exceed 110~166(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 10 years) a potential move toward 111~010(Average Objective).
December Eurodollars(CME): The EDZ0(Mkt) ended Higher(Cond) for July(Month). Compared to June's 99.710(Prev Close), the market ended July at 99.745(Month Close), that being 92%(Pct Range) off of 99.685(Month Low) to 99.750(Month High).

In comparing the June/July closes for each of the last 38 years(Total Years), Scenario found that the December Eurodollars(CME) also closed higher in July than June in 23(Cond Years) of those years. Of those 23, EDZ went on to exceed the July 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 EDZ should exceed 99.750(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 23 years) a potential move toward 100.172(Average Objective).
March Eurodollars(CME): The EDH1(Mkt) ended Higher(Cond) for July(Month). Compared to June's 99.800(Prev Close), the market ended July at 99.825(Month Close), that being 82%(Pct Range) off of 99.780(Month Low) to 99.835(Month High).

In comparing the June/July closes for each of the last 38 years(Total Years), Scenario found that the March Eurodollars(CME) also closed higher in July than June in 22(Cond Years) of those years. Of those 22, EDH went on to exceed the July high within the next 2 months in 20 years(Action Years) or 91%(Pct) of the time.

Therefore, the historical odds are high that the EDH should exceed 99.835(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 20 years) a potential move toward 100.399(Average Objective).
December Australian Dollar(CME): The ADZ0(Mkt) ended Higher(Cond) for July(Month). Compared to June's 68.99(Prev Close), the market ended July at 71.48(Month Close), that being 77%(Pct Range) off of 68.80(Month Low) to 72.28(Month High).

In comparing the June/July closes for each of the last 32 years(Total Years), Scenario found that the December Australian Dollar(CME) also closed higher in July than June in 16(Cond Years) of those years. Of those 16, ADZ went on to exceed the July high within the next 2 months in 14 years(Action Years) or 88%(Pct) of the time.

Therefore, the historical odds are high that the ADZ should exceed 72.28(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 14 years) a potential move toward 74.35(Average Objective).
December EuroFX(CME): The EUZ0(Mkt) ended Higher(Cond) for July(Month). Compared to June's 112.77(Prev Close), the market ended July at 118.21(Month Close), that being 83%(Pct Range) off of 112.26(Month Low) to 119.42(Month High).

In comparing the June/July closes for each of the last 21 years(Total Years), Scenario found that the December EuroFX(CME) also closed higher in July than June in 10(Cond Years) of those years. Of those 10, EUZ went on to exceed the July high within the next 2 months in 9 years(Action Years) or 90%(Pct) of the time.

Therefore, the historical odds are high that the EUZ should exceed 119.42(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 9 years) a potential move toward 122.81(Average Objective).
December Japanese Yen(CME): The JYZ0(Mkt) ended Higher(Cond) for July(Month). Compared to June's 92.84(Prev Close), the market ended July at 94.70(Month Close), that being 59%(Pct Range) off of 92.67(Month Low) to 96.12(Month High).

In comparing the June/July closes for each of the last 43 years(Total Years), Scenario found that the December Japanese Yen(CME) also closed higher in July than June in 19(Cond Years) of those years. Of those 19, JYZ went on to exceed the July high within the next 2 months in 17 years(Action Years) or 89%(Pct) of the time.

Therefore, the historical odds are high that the JYZ should exceed 96.12(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 17 years) a potential move toward 99.60(Average Objective).
December Swiss Franc(CME): The SFZ0(Mkt) ended Higher(Cond) for July(Month). Compared to June's 106.10(Prev Close), the market ended July at 109.83(Month Close), that being 81%(Pct Range) off of 105.87(Month Low) to 110.77(Month High).

In comparing the June/July closes for each of the last 45 years(Total Years), Scenario found that the December Swiss Franc(CME) also closed higher in July than June in 18(Cond Years) of those years. Of those 18, SFZ went on to exceed the July 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 SFZ should exceed 110.77(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 17 years) a potential move toward 116.47(Average Objective).
December US Dollar Index(ICE): The DXZ0(Mkt) ended Lower(Cond) for July(Month). Compared to June's 97.360(Prev Close), the market ended July at 93.340(Month Close), that being 16%(Pct Range) off of 92.520(Month Low) to 97.580(Month High).

In comparing the June/July closes for each of the last 34 years(Total Years), Scenario found that the December US Dollar Index(ICE) also closed lower in July than June in 17(Cond Years) of those years. Of those 17, DXZ went on to penetrate the July low within the next 2 months in 15 years(Action Years) or 88%(Pct) of the time.

Therefore, the historical odds are high that the DXZ should penetrate 92.520(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 15 years) a potential move toward 90.136(Average Objective).
December Silver(CMX): The SIZ0(Mkt) ended Higher(Cond) for July(Month). Compared to June's 1880.3(Prev Close), the market ended July at 2446.9(Month Close), that being 75%(Pct Range) off of 1822.5(Month Low) to 2651.5(Month High).

In comparing the June/July closes for each of the last 45 years(Total Years), Scenario found that the December Silver(CMX) also closed higher in July than June in 25(Cond Years) of those years. Of those 25, SIZ went on to exceed the July 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 SIZ should exceed 2651.5(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 21 years) a potential move toward 2940.3(Average Objective).
December Palladium(NYMEX): The PAZ0(Mkt) ended Higher(Cond) for July(Month). Compared to June's 1962.50(Prev Close), the market ended July at 2157.80(Month Close), that being 50%(Pct Range) off of 1900.00(Month Low) to 2411.40(Month High).

In comparing the June/July closes for each of the last 42 years(Total Years), Scenario found that the December Palladium(NYMEX) also closed higher in July than June in 25(Cond Years) of those years. Of those 25, PAZ went on to exceed the July 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 PAZ should exceed 2411.40(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 21 years) a potential move toward 2644.46(Average Objective).
November Crude Oil(NYM): The CLX0(Mkt) ended Higher(Cond) for July(Month). Compared to June's 39.58(Prev Close), the market ended July at 40.91(Month Close), that being 47%(Pct Range) off of 39.25(Month Low) to 42.75(Month High).

In comparing the June/July closes for each of the last 37 years(Total Years), Scenario found that the November Crude Oil(NYM) also closed higher in July than June in 23(Cond Years) of those years. Of those 23, CLX went on to exceed the July high within the next 2 months in 21 years(Action Years) or 91%(Pct) of the time.

Therefore, the historical odds are high that the CLX should exceed 42.75(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 21 years) a potential move toward 46.58(Average Objective).
December Crude Oil(NYM): The CLZ0(Mkt) ended Higher(Cond) for July(Month). Compared to June's 39.68(Prev Close), the market ended July at 41.22(Month Close), that being 53%(Pct Range) off of 39.38(Month Low) to 42.85(Month High).

In comparing the June/July closes for each of the last 37 years(Total Years), Scenario found that the December Crude Oil(NYM) also closed higher in July than June in 23(Cond Years) of those years. Of those 23, CLZ went on to exceed the July high within the next 2 months in 21 years(Action Years) or 91%(Pct) of the time.

Therefore, the historical odds are high that the CLZ should exceed 42.85(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 21 years) a potential move toward 46.54(Average Objective).
November NY Harbor ULSD(NYM): The HOX0(Mkt) ended Higher(Cond) for July(Month). Compared to June's 123.92(Prev Close), the market ended July at 125.75(Month Close), that being 41%(Pct Range) off of 121.00(Month Low) to 132.52(Month High).

In comparing the June/July closes for each of the last 41 years(Total Years), Scenario found that the November NY Harbor ULSD(NYM) also closed higher in July than June in 24(Cond Years) of those years. Of those 24, HOX went on to exceed the July 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 HOX should exceed 132.52(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 21 years) a potential move toward 145.59(Average Objective).
December NY Harbor ULSD(NYM): The HOZ0(Mkt) ended Higher(Cond) for July(Month). Compared to June's 125.26(Prev Close), the market ended July at 127.54(Month Close), that being 43%(Pct Range) off of 122.85(Month Low) to 133.68(Month High).

In comparing the June/July closes for each of the last 41 years(Total Years), Scenario found that the December NY Harbor ULSD(NYM) also closed higher in July than June in 25(Cond Years) of those years. Of those 25, HOZ went on to exceed the July 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 HOZ should exceed 133.68(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 21 years) a potential move toward 146.27(Average Objective).
January NY Harbor ULSD(NYM): The HOF1(Mkt) ended Higher(Cond) for July(Month). Compared to June's 126.60(Prev Close), the market ended July at 129.22(Month Close), that being 44%(Pct Range) off of 124.73(Month Low) to 134.88(Month High).

In comparing the June/July closes for each of the last 41 years(Total Years), Scenario found that the January NY Harbor ULSD(NYM) also closed higher in July than June in 25(Cond Years) of those years. Of those 25, HOF went on to exceed the July 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 HOF should exceed 134.88(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 21 years) a potential move toward 146.89(Average Objective).
November RBOB Gasoline(NYM): The RBX0(Mkt) ended Higher(Cond) for July(Month). Compared to June's 108.67(Prev Close), the market ended July at 108.95(Month Close), that being 32%(Pct Range) off of 105.00(Month Low) to 117.30(Month High).

In comparing the June/July closes for each of the last 35 years(Total Years), Scenario found that the November RBOB Gasoline(NYM) also closed higher in July than June in 22(Cond Years) of those years. Of those 22, RBX went on to exceed the July high within the next 2 months in 20 years(Action Years) or 91%(Pct) of the time.

Therefore, the historical odds are high that the RBX should exceed 117.30(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 20 years) a potential move toward 128.01(Average Objective).
December RBOB Gasoline(NYM): The RBZ0(Mkt) ended Higher(Cond) for July(Month). Compared to June's 107.54(Prev Close), the market ended July at 108.49(Month Close), that being 35%(Pct Range) off of 104.52(Month Low) to 115.97(Month High).

In comparing the June/July closes for each of the last 35 years(Total Years), Scenario found that the December RBOB Gasoline(NYM) also closed higher in July than June in 22(Cond Years) of those years. Of those 22, RBZ went on to exceed the July high within the next 2 months in 20 years(Action Years) or 91%(Pct) of the time.

Therefore, the historical odds are high that the RBZ should exceed 115.97(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 20 years) a potential move toward 125.56(Average Objective).
January RBOB Gasoline(NYM): The RBF1(Mkt) ended Higher(Cond) for July(Month). Compared to June's 107.69(Prev Close), the market ended July at 109.15(Month Close), that being 33%(Pct Range) off of 105.65(Month Low) to 116.10(Month High).

In comparing the June/July closes for each of the last 34 years(Total Years), Scenario found that the January RBOB Gasoline(NYM) also closed higher in July than June in 23(Cond Years) of those years. Of those 23, RBF went on to exceed the July high within the next 2 months in 21 years(Action Years) or 91%(Pct) of the time.

Therefore, the historical odds are high that the RBF should exceed 116.10(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 21 years) a potential move toward 125.37(Average Objective).
January Natural Gas(NYM): The NGF1(Mkt) ended Higher(Cond) for July(Month). Compared to June's 2.883(Prev Close), the market ended July at 2.915(Month Close), that being 56%(Pct Range) off of 2.785(Month Low) to 3.019(Month High).

In comparing the June/July closes for each of the last 30 years(Total Years), Scenario found that the January Natural Gas(NYM) also closed higher in July than June in 11(Cond Years) of those years. Of those 11, NGF went on to exceed the July high within the next 2 months in 10 years(Action Years) or 91%(Pct) of the time.

Therefore, the historical odds are high that the NGF should exceed 3.019(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 10 years) a potential move toward 3.398(Average Objective).
December Brent Crude Oil(ICE): The CBZ0(Mkt) ended Higher(Cond) for July(Month). Compared to June's 41.76(Prev Close), the market ended July at 44.17(Month Close), that being 67%(Pct Range) off of 41.41(Month Low) to 45.55(Month High).

In comparing the June/July closes for each of the last 30 years(Total Years), Scenario found that the December Brent Crude Oil(ICE) also closed higher in July than June in 20(Cond Years) of those years. Of those 20, CBZ went on to exceed the July high within the next 2 months in 19 years(Action Years) or 95%(Pct) of the time.

Therefore, the historical odds are high that the CBZ should exceed 45.55(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 19 years) a potential move toward 50.31(Average Objective).
January Brent Crude Oil(ICE): The CBF1(Mkt) ended Higher(Cond) for July(Month). Compared to June's 41.95(Prev Close), the market ended July at 44.47(Month Close), that being 69%(Pct Range) off of 41.61(Month Low) to 45.75(Month High).

In comparing the June/July closes for each of the last 30 years(Total Years), Scenario found that the January Brent Crude Oil(ICE) also closed higher in July than June in 20(Cond Years) of those years. Of those 20, CBF went on to exceed the July high within the next 2 months in 19 years(Action Years) or 95%(Pct) of the time.

Therefore, the historical odds are high that the CBF should exceed 45.75(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 19 years) a potential move toward 50.16(Average Objective).
February Brent Crude Oil(ICE): The CBG1(Mkt) ended Higher(Cond) for July(Month). Compared to June's 42.16(Prev Close), the market ended July at 44.78(Month Close), that being 72%(Pct Range) off of 41.84(Month Low) to 45.95(Month High).

In comparing the June/July closes for each of the last 29 years(Total Years), Scenario found that the February Brent Crude Oil(ICE) also closed higher in July than June in 18(Cond Years) of those years. Of those 18, CBG went on to exceed the July 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 CBG should exceed 45.95(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 17 years) a potential move toward 49.92(Average Objective).
March Wheat(KCBT): The KWH1(Mkt) ended Lower(Cond) for July(Month). Compared to June's 464.25(Prev Close), the market ended July at 463.75(Month Close), that being 29%(Pct Range) off of 455.00(Month Low) to 485.25(Month High).

In comparing the June/July closes for each of the last 44 years(Total Years), Scenario found that the March Wheat(KCBT) also closed lower in July than June in 22(Cond Years) of those years. Of those 22, KWH went on to penetrate the July low within the next 2 months in 20 years(Action Years) or 91%(Pct) of the time.

Therefore, the historical odds are high that the KWH should penetrate 455.00(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 20 years) a potential move toward 413.83(Average Objective).
October Live Cattle(CME): The LCV0(Mkt) ended Higher(Cond) for July(Month). Compared to June's 99.730(Prev Close), the market ended July at 107.885(Month Close), that being 99%(Pct Range) off of 99.530(Month Low) to 108.000(Month High).

In comparing the June/July closes for each of the last 45 years(Total Years), Scenario found that the October Live Cattle(CME) also closed higher in July than June in 27(Cond Years) of those years. Of those 27, LCV went on to exceed the July high within the next 2 months in 23 years(Action Years) or 85%(Pct) of the time.

Therefore, the historical odds are high that the LCV should exceed 108.000(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 23 years) a potential move toward 112.814(Average Objective).
October Lean Hogs(CME): The HEV0(Mkt) ended Higher(Cond) for July(Month). Compared to June's 49.350(Prev Close), the market ended July at 49.630(Month Close), that being 45%(Pct Range) off of 47.600(Month Low) to 52.080(Month High).

In comparing the June/July closes for each of the last 45 years(Total Years), Scenario found that the October Lean Hogs(CME) also closed higher in July than June in 23(Cond Years) of those years. Of those 23, HEV went on to exceed the July high within the next 2 months in 21 years(Action Years) or 91%(Pct) of the time.

Therefore, the historical odds are high that the HEV should exceed 52.080(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 21 years) a potential move toward 55.796(Average Objective).
December Coffee "C"(ICE): The KCZ0(Mkt) ended Higher(Cond) for July(Month). Compared to June's 103.45(Prev Close), the market ended July at 121.60(Month Close), that being 98%(Pct Range) off of 98.95(Month Low) to 122.05(Month High).

In comparing the June/July closes for each of the last 45 years(Total Years), Scenario found that the December Coffee "C"(ICE) also closed higher in July than June in 17(Cond Years) of those years. Of those 17, KCZ went on to exceed the July 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 KCZ should exceed 122.05(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 15 years) a potential move toward 132.03(Average Objective).
November Lumber(CME): The LBX0(Mkt) ended Higher(Cond) for July(Month). Compared to June's 419.8(Prev Close), the market ended July at 528.0(Month Close), that being 92%(Pct Range) off of 418.6(Month Low) to 537.2(Month High).

In comparing the June/July closes for each of the last 45 years(Total Years), Scenario found that the November Lumber(CME) also closed higher in July than June in 15(Cond Years) of those years. Of those 15, LBX went on to exceed the July high within the next 2 months in 13 years(Action Years) or 87%(Pct) of the time.

Therefore, the historical odds are high that the LBX should exceed 537.2(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 13 years) a potential move toward 599.8(Average Objective).
January Lumber(CME): The LBF1(Mkt) ended Higher(Cond) for July(Month). Compared to June's 410.0(Prev Close), the market ended July at 510.0(Month Close), that being 92%(Pct Range) off of 408.9(Month Low) to 518.4(Month High).

In comparing the June/July closes for each of the last 45 years(Total Years), Scenario found that the January Lumber(CME) also closed higher in July than June in 15(Cond Years) of those years. Of those 15, LBF went on to exceed the July high within the next 2 months in 13 years(Action Years) or 87%(Pct) of the time.

Therefore, the historical odds are high that the LBF should exceed 518.4(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 13 years) a potential move toward 567.6(Average Objective).
December Cotton(ICE): The CTZ0(Mkt) ended Higher(Cond) for July(Month). Compared to June's 60.88(Prev Close), the market ended July at 62.66(Month Close), that being 58%(Pct Range) off of 59.51(Month Low) to 64.90(Month High).

In comparing the June/July closes for each of the last 45 years(Total Years), Scenario found that the December Cotton(ICE) also closed higher in July than June in 21(Cond Years) of those years. Of those 21, CTZ went on to exceed the July 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 CTZ should exceed 64.90(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 18 years) a potential move toward 70.27(Average Objective).
November Rough Rice(CBOT): The RRX0(Mkt) ended Lower(Cond) for July(Month). Compared to June's 12.02(Prev Close), the market ended July at 11.64(Month Close), that being 49%(Pct Range) off of 11.22(Month Low) to 12.08(Month High).

In comparing the June/July closes for each of the last 33 years(Total Years), Scenario found that the November Rough Rice(CBOT) also closed lower in July than June in 14(Cond Years) of those years. Of those 14, RRX went on to penetrate the July 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 RRX should penetrate 11.22(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 12 years) a potential move toward 10.23(Average Objective).
January Rough Rice(CBOT): The RRF1(Mkt) ended Lower(Cond) for July(Month). Compared to June's 12.15(Prev Close), the market ended July at 11.78(Month Close), that being 36%(Pct Range) off of 11.55(Month Low) to 12.17(Month High).

In comparing the June/July closes for each of the last 33 years(Total Years), Scenario found that the January Rough Rice(CBOT) also closed lower in July than June in 14(Cond Years) of those years. Of those 14, RRF went on to penetrate the July 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 RRF should penetrate 11.55(Scenario Objective) by no later than the end of September. If it does so, Scenario would further project (based on normalizing those previous 12 years) a potential move toward 10.63(Average Objective).

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