stare down between the bulls and the bears at the moment. Who blinks first? Maybe both sides are suffering from confusion. Too much board premium at the moment but cash is really too low and should begin the seasonal climb. However, the traders jumped the gun in anticipation, so a correction to retest 58.00 support is on the menu. The contradictory buy signal triggered yesterday with the close above 60.12 is still operating and if the bears blink or panic the 62.00-64.00 marked target could get an early kiss before 58.00 support gets the retest.

Normally I would have a strongly held bias with great respect for the buy signal. However, the Feb contract can be a psychotic dual personality contract the month of Jan as the market makes the transition from down seasonals to up seasonals, this transition creates the potentially psychotic behavior. So what's a guy suppose to do? Throw out those Fishing Lines and take advantage of whichever personality Feb shows us each day. Let the market make or force the directional choice and snag a few fish as the process plays out. Big or small makes no difference to me, either one makes my account grow.

Working north lines @ 61.50 which has potential brick walls @ 61.75 and 62.00 but also has a marked target @ 63.00-64.00 projected off of the 60.10 buy signal.

Working south lines @ 60.62 which may be a sucker if it fails to take out 60.45 but with cash remaining stagnate the 60.10 needs a retest to prove support and a correction line dictates the original 1st buy signal @ 59.45 needs a retest as long as cash fails to make a jump. Yesterdays 58.07 low also remains on the target menu for a full support proving correction.