Plazaview.com

 Forecast Records - 1st Qtr. of 2001

 Plazaview.com FORECAST for the week of MONDAY, 1-1-2001 (S&P starts at 1320.28)

Last week the U.S. stock market traded within the previous week's range but ended higher at the end of the week. For the third week, sellers lacked conviction and buyers were more active. The S&P 500 finished up for the week, at 1320.28. For the year, the S&P 500 was down by 10.28%. The Plazaview.com library of weekly forecasts recalls that this year's market correction was accurately forecast to subscribers and prior to the beginning of the past year.

This week, the stock market begins again with a good potential for buyers to return and carry the market higher. The market has been building a base from which to rally but it has overhead resistance that may be a barrier, delaying the advance. One other concern is the Dow Industrial Average as it has an incomplete selling range and this could bring the market lower, if only briefly, down to (Dow) 9976. To extend the currently fragile price base and upper price range, continued pivotal buying is required. As was the case for last week, there is good potential for this critical week.

Last week the T-bond turned down for the first time in seven weeks as forecast by Plazaview. The (March 2001) Bond closed down at 104 20/32. Until last week, the Bond market had been anticipating the Federal Reserve's intention for lower rates for several weeks and also attracting defensive cash from the stock market. There is now a market reversal to the Bond's direction, that is downward. From the current (March) level, the eventual target is 100.25.

Last week the U. S. Dollar's cash index continued lower for the fifth week. The declining price of crude oil has been a major influence. The Dollar index closed down last week at 109.32. The dollar is in a long term, rising trend but a short term, falling trend is correcting the dollar's formerly overextended position. The current range is now from approximately 119 to 97. The market is initially corrected and a rally is increasingly likely on current declines. A full bounce back rally will eventually return the dollar to the now distant, 118.56 level. This week should see an initial move that is up or further selling will be excessive.

Last week the gold market rallied higher but then failed and sold-off. The (February) gold contract in New York, closed down for the week at $273.6. As forecast in Plazaview last week, gold still has significant overhead price resistance and currently, a minor base of price support. The market's advance is vulnerable to selling and a return to test below $270. is imminent.

In the energy markets last week, crude oil moved up a little, while gasoline, and heating oil turned direction and moved higher as forecast in Plazaview. However, rather than correct lower, natural gas resumed its move higher in an already overbought condition. The crude oil, gasoline, and heating oil markets are likely to continue the bounce from recent lows. Natural gas is way overdue for corrective selling and will fall sharply at the first sign of warming winter weather.

Crude oil finished slightly higher last week. The (March) CO finished up for the week at $25.98. Crude is trending lower and may briefly test down at a target price of $25.3 but it has a greater potential to rally. CO is less vulnerable to sustained selling and a temporary rally is impending, to an initial target of at least $27.37.

The New York harbor gasoline market moved higher last week as forecast in Plazaview. The (March) HU contract closed up for the week at $0.7918. The(March) HU is likely to rally this week, with volatility. This week's range is $0.7422 and $0.7326 on the downside but potential rallies could bring the March HU contract up to a target of $.8151.

NY Heating oil moved up and to the $.8288 (March) target as forecast in Plazaview. The (March) contract closed up at $0.8274. The (March) HO contract has implied volatility this week and the range is from $0.8008 and $0.7890 on the downside; and on the upside, to a target of $0.8737.

Natural gas moved higher last week for the ninth, uninterrupted week. The (March) NG rallied in an already overbought condition, due to the cold winter weather. By the end of the week (March) NG was up by $0.9910, and closed at $8.791. The price of NG is now exceedingly vulnerable, held aloft by the winter's cold weather. This market is overbought and ready to fall sharply at the hint of warmer winter weather. Market conditions will abruptly take the (March) contract down to $8.353, and eventually down to $6.535, $6.043, $5.836, $5.235, $4.762, $4.554, and $4.471.

J. S. BICKFORD >>>>>>

Plazaview.com FORECAST for the week of MONDAY, 1-8-2001 (S&P starts at 1298.35)

Last week the U.S. stock market traded within and slightly above the previous week's range but ended lower at the end of the week. The Federal Reserve lowered interest rates and this encouraged a one day rally. The S&P 500 finished down for the week, at 1298.35. For the first week of the year, the S&P 500 closed down by 1.66%.

This week, the stock market begins with the support of a three month base building process that is still intact. The market has been building this base from which to rally but it has a barrier of overhead resistance, delaying the advance. Another concern is the Dow Industrial Average as it has an incomplete selling range and this could bring the stock market lower, if only briefly, down to (Dow) 9976. To extend the current price base and upper price range, continued pivotal buying is required, with the potential for a brief sell-off to complete the Dow's lower range.

Last week the T-bond ranged widely down and then upwards. Defensive cash went out and back into the Bond as market perception of the stock market moved up and then downwards. The (March 2001) Bond closed up last week, at 105 19/32. The Bond is indicating that rallies will be unsustainable and that it is ready to turn back down, in a technically corrective move. From the current (March) level, the eventual target is 100.25.

Last week the U. S. Dollar's cash index rallied at the start of the week and then continued lower for the sixth week. The Dollar index closed down last week at 108.38. The dollar is in a long term, rising trend but has declined in a short term, falling trend to correct the dollar's formerly overextended position. The current range is from approximately 119 to 97. The market is initially corrected and a rally is increasingly likely on current declines. While the downward correction is not finished, a full bounce back rally will eventually return the dollar to the now distant, 118.56 level. This week is due for an initial up move, further selling will be excessive.

The NY gold market fell down last week and traded through the target (below $270.) as forecast in Plazaview. The (February) gold contract, closed down for the week at $269. As forecast in Plazaview, gold has significant overhead price resistance and currently, a minor base of price support. This week, a price base is not in place and the market is still vulnerable to selling.

The NY crude oil market finished higher last week and through the target of $27.37, as forecast by Plazaview. The (March) CO closed up for the week by $1.18, at $27.16. This week, CO still has a greater potential to rally but its corrective selling phase is not yet complete. A continuation of last week's rally is likely for this week, however, some brief selling pressure could bring the (March) CO down to $25.98.

The NY gasoline market moved higher again last week and through the target of $0.8151, as forecast in Plazaview. The (March) HU contract closed up for the week at $0.818. The (March) HU begins this week more advanced than crude oil and less inclined to rally. This week's range is likely to trade higher but also down to at least $0.8081. Much lower targets are less likely for this week but remain at $0.7422 and $0.7324.

The NY Heating oil market moved narrowly up and down last week. The (March) contract closed down at $0.8187. This week's market is in transition. The HO market not found a price bottom and it is still in a corrective, downward move but this week could produce a rally. The HO market is now directed by relative weather demands. The (March) HO contract has an expected target range that is from $0.8008 and $0.7890 on the downside, and an upside target of $0.8737.

The NY natural gas market moved sharply lower, through the target of $8.353 as forecast by Plazaview. The market partially recovered its losses and by the end of last week, (March) NG finished down by just $0.2280, to close at $8.563. The (March) NG has been in an extremely overbought condition. The price of NG is vulnerable, held aloft by the seasonal cold weather. This market is still overbought and ready to fall sharply at the hint of warmer winter weather. Market conditions will abruptly take the (March) contract down to $7.615, and eventually down to $6.535, $6.043, $5.836, $5.235, $4.762, $4.554, and $4.471.

J. S. BICKFORD >>>>>>

Plazaview.com FORECAST for the week of MONDAY, 1-15-2001 (S&P starts at 1318.55)

Last week the U.S. stock market traded within the previous week's range but ended higher at the end of the week as forecast in Plazaview. The S&P 500 finished up for the week, at 1318.55. For the first two weeks of the year, the S&P 500 was slightly down by 00.13% on Friday.

This week the stock market, as measured by the S&P 500, has the support of a viable price base. Above this support, remains a barrier of overhead resistance and this week may bring the (initial) breakthrough rally. However, the Dow Industrial Average has an incomplete selling range and this may eventually bring the stock market lower, if only briefly, to (Dow) 9976. More pivotal buying is expected for this week but the potential for a brief sell-off to complete the Dow's lower range is conflicting with the current potential for a market advance.

Last week the T-bond ranged convincingly downwards as forecast in Plazaview. The (March 2001) Bond closed down last week, at 102 29/32. The Bond has the potential to briefly rally back up to targets of 103.23 and 105.19 but this is less likely. The T-bond is moving downwards and rallies will be unsustainable. From the current (March) level, the eventual target is 100.25.

Last week the U. S. Dollar's cash index moved within a narrow range but ended higher for the week as forecast in Plazaview. The Dollar index closed up last week at 109.27. The Dollar is in a long term, rising trend and it has recently declined in a short term correction of the formerly overextended condition. The current range is from approximately 119 to 107. The Dollar is now initially corrected and a further rally is likely. However, the downward correction is not yet complete and after an immediate advance to approximately 113 is accomplished, a return to current levels will be tested briefly. A full bounce back rally will come in time and eventually return the dollar to the now distant, 118.56 target. This week the Dollar should move higher.

The NY gold market fell lower again last week as forecast in Plazaview. The (February) gold contract, closed down for the week at $264.6. As described in Plazaview, gold has considerable overhead price resistance and only a minor base of price support. This week, although a price base is not in place, initial buying is likely to bring a higher gold price.

The NY crude oil market finished higher last week as forecast in Plazaview. The (March) CO closed up for the week by $1.60, at $28.76. This week, CO still has potential to rally but its corrective selling phase is not yet complete and a further advance may be unsustained. A continuation of last week's rally is likely to meet resistance this week or next. The (March) CO is likely to range between approximately $30., and $25.79.

The NY gasoline market moved higher again last week and also through the lower target of $0.8081, both as forecast in Plazaview. The (March) HU contract closed up for the week at $0.8686. The (March) HU begins this week already advanced, like crude oil, and in need of some corrective selling. This week's range is likely to meet resistance if trading higher. Much lower targets are unlikely for this week but remain at $0.7496, $0.7422 and $0.7326.

The NY heating oil market was in transition last week and as a result, it ranged down through the two lower targets of $.8008 and $.7890, as forecast in Plazaview. The (March) contract closed down last week at $0.8082. This week's market action is likely to produce an inside range for the week. The HO market is now directed by relative cold weather demands. The (March) HO contract has an expected target range that is from $0.7761 on the downside, and the upside target is $0.8737.

The NY natural gas market moved higher at the start of last week but in its extremely overbought condition, it could not sustain the advance and declined for the balance of the week as forecast in Plazaview. By the end of last week, (March) NG closed down at $8.057. The (March) NG is in an overbought condition but the price top is undefined. The price of NG is vulnerable, held aloft by the seasonal cold weather. This market is overbought and ready to fall sharply at the first sign of less cold winter weather. This week's initial range is between $8.605 and $7.615. Market conditions will abruptly take the (March) contract further down to $6.535, $6.043, $5.836, $5.235, $4.762, $4.554, and $4.471.

J. S. BICKFORD >>>>>>

Plazaview.com FORECAST for the week of MONDAY, 1-22-2001 (S&P starts at 1342.55)

Last week the U.S. stock market sustained more pivotal buying and an initial breakthrough advance, both as forecast in Plazaview. The market traded above the previous four weeks' consolidation range and ended higher at the end of the week. The S&P 500 finished up for the week, at 1342.55. For all of the first three weeks of the year, the S&P 500 ended last week up by an impressive 1.69%.

This week the stock market, as measured by the S&P 500, still has a viable price base. Above this support, however, remains some additional resistance. The market is unlikely to break out of this support and resistance range for a while. This week may bring an additional advance but it will become range bound. As a gauge of bottom potential, the Dow Industrial Average has an incomplete selling range and this may eventually bring the stock market lower again, if only briefly, to (Dow) 9976. Range bound buying action is expected for this week but the potential for a brief sell-off to complete the Dow Industrials' correction is unresolved.

Last week the T-bond rallied back up and above the initial target of 103.23, both as forecast in Plazaview. The (March 2001) Bond closed up last week, at 103 23/32. This week the Bond has the potential again, to briefly move up to an initial target of 104.24, and possibly 105.19. The T-bond is eventually moving downwards as rallies are transitory. From the current (March contract) level, the eventual lower target is 100.25.

Last week the U. S. Dollar's cash index rallied higher as forecast in Plazaview. The Dollar index closed up last week at 110.67. The Dollar is in a long term, rising trend and it has recently declined in a short term correction of the formerly overextended condition. However, the downward correction is not yet complete and after an immediate advance to approximately 113 is accomplished, a brief return to the recent low levels will be retested. A full bounce back rally will eventually return the dollar to the now distant, 118.56 target. The current range is from approximately 119 to 107. With the Dollar initially corrected, a further rally is likely this week.

The NY gold market rose higher last week as forecast in Plazaview. The (February) gold contract, gave back most of the week's gain but closed up for the week at $264.9. As described in Plazaview, gold has considerable overhead price resistance and only a minor base of price support. This week, although a price base is not yet in place, a higher gold price is likely. Next week, we turn our attention to the (April) contract with targets of $266.3, $266.7 on the downside, and up to $270.8 on a potential rally.

The NY crude oil market fulfilled its potential to rally last week and also remained close to the range as forecast in Plazaview. The (March) CO closed up for the week by $1.43, at $30.19. This week, CO has a limited potential to rally but its corrective selling phase is not yet complete. A continuation of last week's rally will meet resistance this week. The (March) CO is likely to range between approximately $31., and lower targets of $25.98 and 25.30.

The NY gasoline market moved up and down last week, meeting upper resistance as forecast in Plazaview. The (March) HU contract closed down for the week at $0.8611. The (March) HU begins this week more advanced than crude oil and ready for interim selling; a possible rally will be limited. Distant lower targets are at $.758, $.7496, $.7422, and $.7326.

The NY heating oil market was in a bottom testing transition again last week, seeking a price base. It ranged inside the previous week's range and down through the expected lower target of $.7761, all as forecast in Plazaview. The (March) contract closed up last week at $.8394. This week's market action is likely to range somewhere between $.7822 and $.8737 this week, directed by the unsettled cold weather demands.

The NY natural gas market fell sharply last week, through the $7.615 target, as forecast in Plazaview. By the end of last week, (March) NG was down by $.985, to close at $7.072. The (March) NG is in a volatile condition, with an unresolved price top. This market is now less overbought but also ready to fall sharply at the first sign of less cold winter weather. This week's initial range is between $8.605 and $7.768 on the upside, and $6.535 on the downside. Market conditions will abruptly take the (March) contract further down to $6.043, $5.836, $5.235, $4.762, $4.554, and $4.471. This week's market direction is driven by the weather.

J. S. BICKFORD >>>>>>

Plazaview.com FORECAST for the week of MONDAY, 1-29-2001 (S&P starts at 1354.95)

Last week the U.S. stock market continued in a progression of pivotal buying and remained within a breakthrough range, as forecast in Plazaview. The market consolidated at and above the previous week's upper range and ended higher at the end of last week. The S&P 500 finished up for the week, at 1354.95. For the first four weeks of the new year, the S&P 500 ended up last week by a relatively impressive 2.63%.

This week the stock market, as measured by the S&P 500, has a functioning price base of support for a continued advance but this may be restricted by technical resistance to an advance. A potential rally may elevate the market to approximately 1400 (S&P 500) by the end of this week but technical resistance is a barrier, that can alternatively move the market back within the range of the past three weeks. Still, this possible breakout advance will ultimately become limited as there is unfinished technical movement in the market. The Dow Industrial Average may eventually direct the stock market to revisit the lows of six weeks ago, if only briefly, to (Dow) 9976. A cautious advance is expected for this week and the potential for a brief sell-off to complete the Dow Industrials' lower range will not be resolved.

Last week the T-bond moved gradually lower with only minor rallies. The (March) bond closed down for the week at 102 25/32. There is now less potential for rallies, they would briefly move the (March) bond up to unsustainable targets of 104.24, or a more distant 105.19. As forecast in Plazaview, the T-bond is moving downwards and rallies are transitory; from the current (March contract) level, the eventual lower target is 100.25.

Last week the U. S. Dollar's cash index rallied higher again, as forecast in Plazaview. The Dollar index closed up last week at 111.44. The Dollar is in a long term, rising trend and it has recently declined in a short term correction of the formerly overextended condition. With the downward correction not yet complete and the immediate advance to approximately 113 nearly accomplished, a brief return to the recent low levels will be retested in time. The broad range is from approximately 119 to 107, with a 118.56 target. With the Dollar still in correction mode and now approaching potential resistance, the market is likely to be up and down this week.

The NY gold market rose higher last week as forecast in Plazaview but then failed to hold the advance and moved through projected downside targets of $269.5, $266.7, and $266.3. The (April) gold contract, gave back all of the week's gain and closed down for the week at $265.2. As described in Plazaview, gold has considerable overhead price resistance and now it is drifting without a base of price support. This week, although a price base is not in place, buyers are expected but only because the market is technically oversold. The (April) contract's nearest upper targets are $269.5, $270., and $270.8 on a potential bounce back rally.

The NY crude oil market was restricted by technical resistance and remained within its expected range as forecast in Plazaview. The (March) CO closed down for the week by $0.42, at $29.77. This week, CO has a limited potential to rally and its corrective selling phase is not yet complete. The market will find a technical bias of resistance on a rally but less resistance in selling. The (March) CO is likely to range between approximately $31., and lower targets of $25.98 and 25.30.

The NY gasoline market moved mostly down as forecast in Plazaview, but the (March) contract recovered to close slightly higher by $0.37, at $0.8648. The (March) HU has a base of price support but it is more advanced than crude oil and will follow crude lower if likely selling occurs; a possible rally will be limited by technical resistance. Distant lower targets are at $.758, $.7496, $.7422, and $.7326.

The NY heating oil market remained within the expected range as forecast in Plazaview. The (March) contract remained subject to the uncertain weather and closed marginally down by $.0236 last week, at $.8394. The market has advanced on a impermanent price base but depending upon the uncertain cold weather, a potential rally will move (March) HU up to an initial target of $.8269.

The NY natural gas market traded in the expected range, through the targeted price of $6.535, continuing lower for the fourth week as forecast in Plazaview. By the end of last week, (March) NG was down by $.242, to close at $6.83. The (March) NG has been moving down in a correction of its previously overbought condition and lower prices are still a potential but an incomplete price top remains. This market is now less overbought but also ready to continue lower, depending on the uncertain cold winter weather. This week's price targets are $8.605, $7.768, $7.102, and $6.879 on the upside. However, warmer weather conditions will abruptly take the (March) contract further down to $6.043, $5.836, $5.235, $4.762, $4.554, and $4.471. The market's technical condition is correcting the price down but this week's market direction is motivated by the weather.

J. S. BICKFORD >>>>>>

Plazaview.com FORECAST for the week of MONDAY, 2-5-2001 (S&P starts at 1349.47)

Last week the U.S. stock market attempted to continue with a third week of pivotal buying but it was limited and failed at the week's high (1383.37) by technical resistance, as forecast in Plazaview. The market reversed its gains of the week and moved back into the previous week's range. The S&P 500 finished marginally down for the week, at 1349.97. For the first five weeks of the new year, the S&P 500 was still up, by 2.21%.

This week the stock market begins at a turning point but restricted by overhead resistance. As measured by the S&P 500, the market has a base of support for a continued advance but this is currently restricted by resistance in the area of approximately 1400 - 1420 (S&P 500). This barrier can move the market further back, within the range of the past four weeks. Alternatively, a breakout advance will ultimately become limited as there is unfinished technical movement in the market.

Last week the T-bond moved lower at the start of the week and then moved up, through the (104.24) and 5 points below the (105.19) target, as forecast in Plazaview. The (March) bond closed up for the week at 104 13/32. There potential for an advance is limited to the target of (105.19 - March contract). This can briefly move the (March) bond up but to unsustainable levels. As forecast in Plazaview, the T-bond is gradually correcting downwards and rallies are transitory. From the current (March contract) level, the eventual target is down to 100.25.

Last week the U. S. Dollar's cash index moved down for most of the week and then rallied higher again, as forecast in Plazaview. The Dollar index eventually closed down last week at 110.22. The Dollar is in a long term, rising trend and it has recently declined in a short term correction of the formerly overextended condition. Downward correction is not yet complete and a return to the recent low levels will be tested in time. The broad range is from approximately 119 to 107, with a 118.56 upper target for a later date. The Dollar has a strong rising trend but it is still in correction mode. The market will be seeking direction but the upside is limited this week.

The NY gold (April) market ranged from 270.9 to 265.1 last week. It moved through all three of the lower price targets and all three of the upper price targets as forecast in Plazaview. The (April) gold contract closed up for the week at $269.3. As described in Plazaview, gold has considerable overhead price resistance and now it is drifting without a base of price support. This week has less potential and the market is likely to have a limited advance and consolidate.

The NY crude oil market moved in a relatively narrow range for most of last week. On Friday it was extremely volatile. It ranged down to 26.1 and up to 31.3, finding less resistance in selling and a limited potential to rally as was forecast in Plazaview. The (March) CO closed up for the week at $31.19. This week, CO has limited potential to rally and its corrective selling phase is not yet complete. To advance, the market needs to break above technical resistance on a rally but there is far less resistance to selling. The (March) CO is likely to range between approximately $31., and lower targets of $25.98 and 25.30.

The NY gasoline market moved down last week until Thursday and Friday, following the direction of crude oil, as forecast in Plazaview. The (March) HU contract closed higher for the week, at $0.8945. The (March) HU has a good base of price support but it is currently advanced and testing higher. A pull back in prices can be expected on failing rallies. Distant lower targets are at $.758, $.7496, $.7422, and $.7326.

The NY heating oil market advanced at the end of last week but remained in the range of its recent lows. The (March) contract is subject to the now fading but not finished winter weather. With a range of $.823 - $.7475, it nearly reached the upper target of ($.8269) as forecast in Plazaview. March HO finished down last week, at $.8214. The market begins this week in a marginal base of price support, with considerable overhead resistance. A cold weather rally will move (March) HU up to an initial target of $.8269 and then to $.8391.

The NY natural gas market traded in a range of ($6.97 - $5.65). It moved through both, the initial upper and lower targeted prices of $6.879 and $6.043 as forecast in Plazaview. By the end of last week, (March) NG was down, closing at $6.743. The (March) NG has already corrected down, from its previously overbought condition. Lower prices are fundamentally a potential but a technically incomplete price top beckons. Depending on more cold winter weather, less resistance is to the upside and some kind of rally can fill the void. This week's price targets are $8.605, $7.768, and $7.102 on the upside. However, warmer weather conditions will abruptly take the (March) contract further down to $5.836, $5.235, $4.762, $4.554, and $4.471. The market's technical condition is correcting the price down but this week's market direction is triggered by the weather.

J. S. BICKFORD >>>>>>

Plazaview.com FORECAST for the week of MONDAY, 2-12-2001 (S&P starts at 1314.76)

Last week the U.S. stock market turned down and back into the range of the previous four weeks, as forecast in Plazaview. The S&P 500 gave back all the gains of its January and February advance and finished down for the week, at 1314.76. For the first six weeks of the new year, the S&P 500 was down, by 0.42%.

This week the stock market begins in near proximity to its base of price support. An advance is restricted by the more distant, overhead resistance. The Federal Reserve's interest rate reductions are failing to stimulate the stock market due to incomplete technical action in the market. This week may bring a test of the current support levels (S&P 500 = 1285.). The potential to rally will not break out of the overhead resistance barrier this week. If the support level holds, unfinished technical movement in the market will restrict the stock market to within the range of the prior five weeks.

Last week the(March) T-bond ranged between 103.24/32 and 105.3/32. The (March) bond closed up for the week at 105. The potential for an advance is still limited to the target of (105.19 - March contract). The bond can move higher but to unsustainable levels. The bond market is drifting while fundamentally and temporarily influenced by the Federal Reserve's actions. As forecast in Plazaview, the T-bond will gradually correct downwards as rallies are transitory. From the current (March contract) level, the eventual target is down to 100.25.

Last week the U. S. Dollar's cash index ranged between (109.48 and 112.08). The market was seeking direction and upside movement was limited, as forecast in Plazaview. The Dollar index eventually closed up last week at 111.7. The Dollar is in a rising trend but it is working through a short term correction of its formerly overextended condition. Although the downward correction is not yet complete and a return to the recent low levels will be tested in time, it has built a platform of price support during the past five weeks. This week may see a rally but there is a barrier of overhead technical resistance. The broad range is between approximately 119 to 107, and 118.56 is the upper target. The Dollar has a strong rising trend and a chance to break through resistance this week but that breakout potential remains is to be proven.

The NY gold (April) market collapsed, it moved straight down last week, ranging from $267.3 to $260.7. As forecast in Plazaview, considerable overhead price resistance and no base of price support resulted in selling. The (April) gold contract closed down for the week at $262. This week, gold is adrift without a base of support but it can begin to build price support if it will consolidate by closing unchanged or higher by the end of the week .

The NY crude oil market moved in a relatively narrow range ($31.88 - $30.) with very little advance during the week, as forecast in Plazaview. The (March) CO closed slightly down for the week at $31.03. This week, CO is likely to resume its incomplete technical correction. To move higher, the market needs to break above technical resistance on a rally but there is far less resistance to selling. This week, CO (March) is likely to range between targets of $31.59, and lower targets of $25.98 and 25.30.

The NY gasoline market ranged between ($.878 and $.938), testing mostly higher levels last week but rallies scarcely held, as forecast in Plazaview. The (March) HU contract closed scarcely higher (by $.0066) for the week, at $0.9011. The (March) HU has a good base of price support but it is currently too far advanced and due for selling. A brief rally is targeted for $.9297 and corrective selling will reach for targets at $.758, $.7496, $.7422, and $.7326.

The NY heating oil market ranged between $.796 and $.8475, hitting both targets of $.8269 and $.8391, as forecast in Plazaview. March HO finished slightly up by $.0010 last week, at $.8224. The (March) contract is now subject to the fading but still not ended winter weather. The market begins this week in a marginal base of price support, with considerable overhead resistance. A brief rally can move (March) HU up to a target of $.8418. Beyond that, the market will be suppressed by a technical barrier.

The NY natural gas market traded in a consolidating range of ($6.75 to $5.61). By the end of last week, (March) NG was down, closing at $6.21. The (March) NG has corrected down, from its previously overbought condition. Lower prices are a fundamental potential but a technically incomplete price top beckons. This week's nearest target is down, at $5.764. Warmer weather conditions will take the (March) contract further down but not far this week. Lower targets are at $5.836, $5.235, $4.762, $4.554, and $4.471. An eventual rally will correct an incomplete top and upper targets are at $7.102, $7.768, and $8.605. The market's technical condition is nearly oversold but this week's market direction is precipitated by the weather.

J. S. BICKFORD >>>>>>

Plazaview.com FORECAST for the week of MONDAY, 2-19-2001 (S&P starts at 1301.53)

Last week the U.S. stock market attempted a rally but finished lower. Overhead resistance is limiting and the market's lower range was tested near the support levels, as forecast in Plazaview. The S&P 500 finished down for the week, at 1301.53. For the first seven weeks of the year, the S&P 500 was down, by 1.42%.

This week the stock market begins at a critical turning point and a rally is more likely, however it may be short lived. Price support is lower, in the area of 1275.00 and 1254.00 (S&P 500). Any initial selling should result in reactionary buying from the support level. Failure of the support level to hold will create an oversold condition but incomplete technical action still remains at even lower levels. The overhead resistance barrier limits a potential rally, but the market is closer to support and this gives more probability for an advance by the end of this week. These are short term trading conditions, investors may have not yet seen the bottom.

Last week the (March) bond closed down, at 103.24. The (March) bond will expire soon and attention turns to the (June) contract. Last week the (June) bond ranged between 102.9/32 and 104.24/32, it closed down, at 103.14. The (June) bond is moving lower and the minimum target is 100.22. The potential and momentary upper targets are 105.11 and a more likely 103.24. To the downside, the ultimate (June contract) targets are 100.22 and 99.3. The bond is gradually correcting downwards, as forecast in Plazaview.

Last week the U. S. Dollar's cash index ranged higher, between 111.12 and 113.12, closing higher, as forecast in Plazaview. The Dollar closed up, at 112.54. The Dollar is in a rising trend but it has been working through a short term correction of its formerly overextended condition. Although the downward correction is not yet complete and a return to the recent low levels will be tested in time, it has built a platform of price support during the past several weeks. This week may be see a breakthrough rally or it may come the following week but overhead technical resistance is a barrier. The trading range for this week is between approximately 110 and 115. The Dollar is in a strong, rising trend and a break through resistance remains to be proven.

The NY gold (April) market collapsed further and partially recovered last week, ranging between $263.4 and $255.1. The (April) gold closed lower, at $259.8. As described in Plazaview, gold has considerable overhead price resistance and it is adrift without a solid base of support. This week, gold is in a down trend and still under pressure of selling but it has an improved base of support and it will recover to higher levels by the end of this week or the next. Initial, briefly higher price targets for the (April) contract are at $262.5, $265.2, and $269.3.

The NY (June) crude oil market moved in a range of ($29.95 to $27.95) last week, closing lower, at $28.29. As forecast in Plazaview, CO is likely to resume its incomplete technical correction and there is far less resistance to selling. This week, CO (June) is likely to range between minimum targets of $28.77 and $28.10, with a bias to lower levels.

The NY gasoline market was due for selling and it moved lower last week, as forecast in Plazaview. The (June) HU contract closed down for the week, at $0.8856. The (June) HU has a base of price support but it is currently advanced and due for selling. A brief rally is targeted for $.899 and possibly up to $.9368. Corrective selling will quickly reach for $.881 and lower.

The NY heating oil moved only briefly higher and then moved down, as forecast in Plazaview. The (June) HO finished down last week, at $.7194. The (June) contract is now subject to fading but still not ended winter weather. The market begins this week in a marginal base of price support but ready to rally on any signs of cold weather. With considerable overhead resistance, rallies will be vulnerable to selling pressure. A brief rally can move (June) HU up to targets of $.7336 and $.7722, however, lower targets will be visited eventually at $.712, and $.6856.

The NY natural gas market traded in a narrow range, precipitated by last week's relatively fading winter weather demands. By the end of last week, (June) NG was down and it closed at $5.505. The (June) NG has not yet defined a technical top price, while lower prices are a fundamental potential. This week's nearest target is down, at $5.356. Lower targets are $5.18, $4.907, and $4.675. A weather induced potential for a rally may correct the technically incomplete price top and the upper target is $5.92 for the (June) contract. The market's technical condition is neutral at the start of this week and market direction is fundamentally driven by the weather.

J. S. BICKFORD >>>>>>

Plazaview.com FORECAST for the week of MONDAY, 2-26-2001 (S&P starts at 1245.86)

Last week the U.S. stock market attempted an initial rally but then tested lower and failed to hold at its support levels. Overhead resistance is a limiting barrier but it is more distant. Last week's move to lower levels resulted in an oversold S&P 500 and NASDAQ. Last week's initial selling did result in some reactionary buying at the end of the week as forecast in Plazaview. The NASDAQ 100 rallied most at the end of the week, even as the Dow finished lower. The S&P 500 finished down for the week, at 1245.86. For the first eight weeks of the year, the S&P 500 was down by (-5.64%).

This week the S&P 500 begins in an oversold condition although the Dow Industrial Average has an unfinished technical correction as described in previous weeks' forecasts by Plazaview. The Dow closed down last week at 10,441.90, it is targeted to eventually trade down to 9976. The S&P 500 is now in a range between 1200 and 1400, with 1254.00 as the nearest resistance. The overhead resistance barrier limits a potential rally but resistance is more distant. The market is closer to support and this gives more probability for a delayed advance by the end of this week. These are short term trading conditions with sector rotation as the current phase.

Last week the (June) bond ranged narrowly lower, it closed unchanged at 103.14. The potential but momentary upper targets are 103.24 and a less likely 105.11. To the downside, the ultimate (June contract) targets are 100.22 and 99.3. The bond is gradually correcting downwards, as forecast in Plazaview.

Last week the U. S. Dollar's cash index ranged narrowly higher but it ended the week slightly lower. The Dollar closed marginally down, at 112.16. The Dollar is in a rising trend but it has been working through a short term correction of its formerly overextended condition. Although the downward correction is not yet complete and a return to the recent low levels will be tested in time, it has built a temporary platform of price support during the past several weeks. This week may bring a breakthrough rally or it fall back as overhead technical resistance is a close barrier. The trading range for this week is between approximately 110 and 115. The Dollar is in a strong, rising trend and a break through of resistance remains to be proven.

The NY gold (April) market recovered to higher price levels as forecast in Plazaview. The (April) gold remained within the previous week's range, but closed higher at $262.1. As previously described in Plazaview, gold has considerable overhead price resistance and it is adrift without a solid base of support. This week, gold is still drifting but ready to attempt higher prices with an improved base of support. Initial, briefly higher price targets for the (April) contract are at $262.5, $265.2, and $269.3.

The NY (June) crude oil market moved in a narrow range last week and closed only slightly higher at $28.67. As forecast in Plazaview, CO is more likely to resume its incomplete technical correction with relatively less resistance to selling. This week, CO (June) has a bias to range lower but a brief rally will trade it up to at least $28.77.

The NY gasoline market was due for selling and it moved lower again last week, as forecast in Plazaview. The (June) HU contract closed down for the week, at $0.8795. The (June) HU has a distant base of price support and technically higher price targets may bring only a brief rally to $.899 and possibly up to $.9368. Corrective selling will quickly return with lower prices.

The (June) NY heating oil market moved in a narrow range and closed at the targeted price of $.712, as forecast in Plazaview. The (June) contract is now subject to fading but still not ended winter weather. The market begins this week in a marginal base of price support. With considerable overhead resistance, potential rallies will be vulnerable to greater selling pressure. A brief rally can move (June) HU up to the target of $.7336, however, targets will be visited at $.6856 and lower.

The NY natural gas market traded lower again as previously forecast in Plazaview. By the end of last week, (June) NG closed down at $5.225. This week's nearest target is down, at $5.202, lower targets are $5.18, $4.907, and $4.675. A brief rally may correct the technically incomplete price top and higher targets are at $5.505 and $5.92 for the (June) contract.

J. S. BICKFORD >>>>>>

Plazaview.com FORECAST for the week of MONDAY, 3-5-2001 (S&P starts at 1234.18)

Last week the U.S. stock market traded in a narrow consolidation pattern. Although it closed lower on Friday, it stabilized after failing to hold at key support levels in the previous week. The S&P 500, the Dow, and the NASDAQ are in oversold conditions and that resulted in some buying at the end of the week. The S&P 500 finished down for the week, at 1234.18. For the first nine weeks of the year, the S&P 500 was down by (-6.52%) and it was only (+3.76 points) above the 1998 end of year level.

This week the S&P 500 begins the second week in an oversold condition and the stock indices are due for a rally. However, the Dow Industrial Average has unfinished technical work, as described in previous weeks' forecasts by Plazaview. The Dow closed up last week at 10,466.931 but it is likely to eventually trade down to 9976., before the markets can begin a renewed and sustained advance. Overhead resistance will limit a potential rally. While technically limited, the market's oversold condition, the fundamental influence of lower interest rates, and proposed lower taxes makes probability for a rally. These are short term trading conditions and sector rotation is the current phase.

Last week the (June) bond ranged three points, mostly higher, hitting both upper targets as forecast in Plazaview. The (June) T-bond closed higher and at 104.25. This week begins at a relative turning point for a return to the potential lower targets 103.30 and 100.22. With a temporary and opposite influence from the Federal Reserve, the bond has been testing its top level for eight weeks but will gradually correct downwards as forecast in Plazaview.

Last week the U. S. Dollar's cash index ranged narrowly but it was turned lower by overhead resistance. The Dollar closed down, at 111.05. The Dollar is in a rising trend but it is also in a transitional correction of its formerly overextended condition. The downward correction is not yet complete and a return to the recent low levels will be tested in time. It has built a temporary platform of price support during the past several weeks and this week may bring a breakthrough rally or it can fall back as overhead technical resistance is a close barrier. The trading range for this week is between approximately 110 and 115.

The NY gold (April) market rallied and hit two of the upper targets as forecast in Plazaview.
Gold recovered for the second week, moving to higher price levels as forecast in Plazaview. The (April) gold gave back most of its gains for the week but closed $1. higher, at $263.1. As previously described in Plazaview, gold has considerable overhead price resistance and it is adrift without a solid base of support. This week, gold has a more developed price base but it is likely to sell down again. The initial target is down to $262.1, and possibly lower; the higher price target for the (April) contract is $269.3 but unlikely for this week.

The NY (June) crude oil market moved down in a narrow range last week and closed lower at $27.74. As forecast in Plazaview, CO is more likely to resume its incomplete technical correction with comparatively less resistance to selling. This week, CO (June) has a bias to range lower again. The minimum range targets are up to $28.37 and 28.77 and down to $25.47.

The NY gasoline market returned to corrective selling and it moved down last week, as forecast in Plazaview. The (June) HU contract closed lower for the week, at $.857. The (June) HU has a base of price support and technically higher price targets may bring only a brief rally to $.899 and possibly up to $.9368. Resumed selling will hit lower price targets of $.8519 and $.7835.

The (June) NY heating oil market was vulnerable to greater selling pressure as forecast in Plazaview and HO closed down at $.7071. The (June) contract is subject to fading winter weather and the market begins this week in a marginal base of price support. With overhead resistance, potential rallies are more vulnerable to selling pressure. A brief rally can move (June) HU up to the target of $.7336 and a far more distant target of $.7722. More likely is resumed selling and that will hit lower targets of $.6989 and $.6766.

The NY natural gas market traded in a narrow range last week. The (June) NG closed slightly higher at $5.345. The top price formation is not yet complete and this week's trading action has a technical potential for upward targets of $5.92 and $6.015. Lower targets are at $5.202, $5.18, $4.907, and $4.675. Fundamentals call for lower prices, while technicals call for higher prices. This conflict of direction will be resolved with a bias toward lower levels.

J. S. BICKFORD >>>>>>

Plazaview.com FORECAST for the week of MONDAY, 3-12-2001 (S&P starts at 1233.42)

Last week the U.S. stock market traded in the second week of a narrowing consolidation pattern. A rally was underway for most of the week as forecast in Plazaview but that was followed by selling. The S&P 500, the Dow, and the NASDAQ returned to their relative oversold conditions at the end of the week. The S&P 500 finished only slightly down for the week at 1233.42. For the first ten weeks of the year, the S&P 500 was down by (-6.58%) and it was only (+3.00 points) above the 1998 end of year level.

This week the major indices begin a third week in an oversold condition and a rally is due to at least correct this condition. However, the Dow Industrial Average has unfinished technical work as described in previous weeks' forecasts by Plazaview. In this rotation market cycle, the Dow closed up last week at 10,644.5 but it is likely to eventually trade down to (9976.) before the markets can begin a renewed and sustained advance. Overhead resistance will limit a potential rally. While technically limited, the market's oversold condition and the fundamental influence of lower interest rates, and potentially lowered taxes makes the probability for a rally. These are short term trading conditions and sector rotation is still the current phase.

Last week the (June) bond ranged in a narrowing pattern, compared with the previous week, and it moved 21/32 higher. The (June) T-bond closed up at 105.13. This week is another relative turning point for a return to the potential lower targets 103.30, 100.22, and 99.3. With a temporary and opposite influence from the Federal Reserve, the bond has been marking time and building a potential top. The Bond has been testing its top level for nine weeks.

Last week the U. S. Dollar's cash index ranged very narrowly. The Dollar closed slightly up, at 111.38. The Dollar is in a rising trend but it is also in a transitional correction of its formerly overextended condition. The downward correction is not yet complete and a return to the recent low levels will be tested in time. For this week, a temporary platform of price support, that has been constructed in the past several weeks, may support a breakthrough rally. The trading range for this week is between approximately 109.50 and 114.50.

The NY gold (April) market moved down to the expected lower target of ($262.1) and also rallied up and through the less likely upper target of ($269.3) as forecast in Plazaview. Gold rallied for the third week, and the (April) gold held most of its gains for the week to close $8.40 higher, at $271.5. Gold has a base of price support but the recent advance is likely to become unstable.

The NY (June) crude oil market moved up and through both targets as forecast in Plazaview. June CO moved in a narrow range last week and closed only $0.56 higher at $28.3. As forecast in Plazaview, CO is more likely to resume its incomplete technical correction with comparatively less resistance to selling. This week, CO (June) has a bias to test lower again but it is in a narrowing range, moving sideways. The range target is nearest at $28.54 and down to $25.47.

The NY gasoline market rallied to the initial upper target as forecast in Plazaview. The (June) HU contract closed higher for the week, at $.8748. The (June) HU has a base of price support and a strong rally would be drawn up to $.9368. Resumed selling is likely to hit lower price targets of $.857 and $.8519, a more distant target is $.7835. HU begins this week at the lower end of a narrowing range, suggesting price support and a rally would keep the upward trend in place.

The (June) NY heating oil market remained in a narrow range last week and HO closed up at $.7146. The (June) contract is now more subject to the fading winter weather and the market begins this week in a marginal base of price support. Potential rallies are more vulnerable to selling pressure. A brief rally can move (June) HU up to the target of $.7171, and $.7336, a far more distant target is $.7722. More likely is resumed selling and that will hit lower targets of $.6989 and $.6766. HO begins this week in a narrowed range and more vulnerable to selling.

The NY natural gas market traded up for the beginning of the week and then failed in a bias to lower levels as forecast in Plazaview. The (June) NG closed down by just $.167 at $5.178, remaining within the previous week's lower range. The price pattern is poorly defined and a top price formation is not yet complete. This week's trading action has a technical potential for upward targets of $5.387, $5.505, $5.92 and $6.015. Lower targets are at $4.907 and $4.675. The fundamental weather influence is fading and this has reduced buyer interest in NG.

J. S. BICKFORD >>>>>>

Plazaview.com FORECAST for the week of MONDAY, 3-19-2001 (S&P starts at 1150.53)

Last week the U.S. stock market moved down to the 9976 (Dow) level as forecast in Plazaview since 12-18-00. It held there on Wednesday and Thursday but on Friday, the market collapsed in a wave of selling to close at (Dow) 9823. The S&P 500, the Dow, and the NASDAQ were already in oversold conditions and this became extreme at the end of the week. The S&P 500 finished down for the week at 1150.53. For the year so far, the S&P 500 was down by (-12.86%).

This week the major indices begin the fourth week in an oversold condition. The Dow is the least oversold of the three. However, since the Dow Industrial Average did not hold at (9976), a new potential has developed for lower levels. Although a rally is overdue, there is no floor of support established. The Dow's potential lower target is (9467); for the S&P 500, the nearest potential target down is 1110. The markets are technically in an extreme oversold condition and this eventually results in a rally. Also, the fundamental influence of lowered interest rates, and potentially lowered taxes will normally result in a rally. These are short term conditions and sector rotation is the current phase, while the markets seek a bottom.

Last week the (June) bond ranged higher in response to the stock market's selling action. The (June) T-bond closed up at 106.17. The Bond has been testing its top level for ten weeks and while not as extreme as the stock market, the Bond is technically overbought. This week is at least a beginning and likely turning point for a return to potential lower targets. This week, the (June) Bond is attracted to targets at lower levels of 106.4, 105.11, 103.30, 100.22, and 99.3.

Last week the U. S. Dollar's cash index moved higher, closing at 115.19. As previously described in Plazaview, a temporary platform of price support has been constructed in the past several weeks and this has supported a breakthrough rally. The Dollar is in a rising trend and it has now broken out of its short term correction. For this week, the Dollar may be on its way to higher ground and returning to the target of 118.56. A fundamental confluence is from OPEC's plans for higher crude oil prices.

The NY gold (April) market moved up and then down last week in a wide range from $272.7 and down to $258. The recent advance became unstable as forecast that it would in Plazaview. The (April) contract closed down by ($13.1), to finish the week at $258.4. This week, NY gold still has a good base of price support. Further selling of $2 or $3 may test the support level but after that, a range bound advance may develop. The (April contract) range is $255 - $272.

The NY (June) crude oil market resumed its incomplete technical correction with comparatively less resistance to selling, as forecast in Plazaview. June CO moved down last week and closed ($1.31) lower at $26.99. OPEC has plans to cut production and marginally raise prices. This week, CO (June) has a technical bias to test lower again but may be in a narrowing range, moving sideways. The range has nearest upper targets at $28.54 and $28.29, also down to $25.47.

The NY gasoline market experienced resumed selling and hit lower price targets of $.857 and $.8519 as forecast in Plazaview. The (June) HU contract closed lower for the week ($.0173), at $.8575. This week the (June) HU is likely to trade between price targets of $.8795 and $.8509. A secondary and wider price range is between targets of $.9368 and $.7835. Gasoline is now subject to the increased demands of approaching summer season usage.

The (June) NY heating oil market was vulnerable to selling and remained in the range of targeted prices last week, as forecast in Plazaview. The (June) HO closed down at $.687. The (June) contract is subject to a fading winter weather season. The market begins this week in a marginal base of price support and it has limited fundamental support. Unlikely for this week, a brief rally can move (June) HU up to the target of $.7336 and a far more distant target is $.7722. More likely is resumed but limited selling and that will hit a lower target of $.6872. HO begins this week, still vulnerable to selling but it is near a potential price bottom.

The NY natural gas market continued last week in a five week trend that is down. The fundamental weather influence is now fading with reduced buyer interest in NG as has been forecast in Plazaview. The (June) NG closed down, at $5.092. The price pattern is poorly defined. Technically, a top price formation is not yet complete and a price base is undefined. This week's trading action has a potential for upward targets of $5.387, $5.505, $5.92 and $6.015. Lower targets are at $5.00 and $4.675. The fundamental bias is for lower prices.

J. S. BICKFORD >>>>>>

Plazaview.com FORECAST for the week of MONDAY, 3-26-2001 (S&P starts at 1139.83)

Last week the U.S. stock market moved down again but it recovered most of the loss. The Dow's 9467 level was hit as forecast in Plazaview. The market recovered enough on Friday to put it above the (Dow) target level and it closed at 9504.76. The S&P 500, the Dow, and the NASDAQ were in extreme oversold conditions and this finally launched the recovery buying at end of the week. The S&P 500 finished down for the week at 1139.83. For the year so far, the S&P 500 was down by a record for this year of (-13.67%).

This week the major indices begin the fifth week in a technically oversold condition. The Dow remains the least oversold of these three extremes. The Dow Industrial Average did hold above (9467), and that indicates a potential for recovery this week. A rally is overdue and the potential is promising but no floor of support has been established. This week could be volatile as the market attempts to rally. The Dow's potential floor of support is now (9467). The markets are technically in an extreme oversold condition and this will result in a rally. Also, the cumulative effect of lowered interest rates, and potential lowered income taxes will result in a rally. These are short term conditions. Sector rotation is the current market phase, while the markets are correcting the (1995 - 1999) unusual degree of advance.

Last week the (June) bond ranged narrowly higher in response to the stock market's selling action. The (June) T-bond closed down at 106 & 4/32. It ended the week on target and moving down as forecast in Plazaview. The Bond has been testing its top level for eleven weeks and while not as extreme as the stock market, the Bond is technically ready to turn in a new direction. This is a likely turning point for a return to lower price targets. This week, the (June) Bond is briefly attracted to a higher target of 106.28; lower targets are at 105.11, 103.30, 100.22, and 99.3.

Last week the U. S. Dollar's cash index moved higher, closing at 115.88. As previously described in Plazaview, a temporary platform of price support has been constructed in the past several weeks and this supports the current advance. The Dollar is also in a long term, rising trend. For this week, the Dollar may be on its way to higher ground and returning to the upper target of 118.56 but a lower target of 113.04 may create some sideways action. OPEC's intentions for marginally higher crude oil prices will be supportive of a rising dollar.

The NY gold (April) market moved up as forecast in Plazaview, and then gold remained in a narrow range last week. The (April) contract closed up by ($3.4) and ended the week at $261.8. This week, the NY gold market still has a good base of price support but the (June contract) is likely to trade down to $258.4, before it attempts higher targets of $268.1 and $271.5.

The NY crude oil (June) market was moved down and then back up last week in a narrow range as forecast in Plazaview. It closed ($.39) higher at $27.38. Fundamental influence comes from OPEC's intention to cut production and marginally raise prices. This week, CO (June) has an undefined base of technical support, that may test lower again but in a limited range, resulting in moving sideways. The range has upper targets at $28.54 and $28.29; the lower target is $25.47.

The NY gasoline market moved up and held in a narrow range last week. The (June) HU contract closed up for the week at $.8941. This week the (June) HU will trade back to the lower price target of $.8799. The market will range more widely over the next few weeks. A wider price range is between targets of $.9368 and $.7835. Gasoline has an upward bias, subject to the increased demands of seasonal usage but technically, it is inclined to drift sideways for several weeks.

The NY (June) heating oil market began last week near a price bottom as described in Plazaview and with a late season of cold weather prevailing, it was moved higher in a wide range. The (June) HO closed up at $.7081. This week the (June) contract is likely to find rallies unsustainable and a lower target is $.6831. Although less likely, a brief rally would move (June) HU up to the target of $.7336 and a far more distant target is $.7722. HO is vulnerable to selling but it is also near the support of a potential price bottom.

The NY natural gas market moved higher last week but in a very narrow range. The (June) NG closed up by $.283, at $5.375. The fundamental influence of weather is fading with reduced buyer interest in NG. Technically, a top price formation is not yet complete and a price base is undefined. This week's trading action has a potential for upward targets of $5.505, $5.92 and a distant $6.015. Lower targets are at $5.00 and $4.675. The fundamental bias is for lower prices, the technical bias is for price topping action.

J. S. BICKFORD >>>>>>