Friday’s Futures Setups

The
March Japanese Yen
(
JYH2 |
Quote |
Chart |
News |
PowerRating) had been beaten down hard for months.
Just this week the bulls have reawakened–and with a reprisal. March Yen futures
prices on Thursday shot up higher and in doing so sent a strong message to
traders that the lows are likely in place in the yen. An important note for yen
traders is that the Japanese Nikkei stock index has also soared higher this
week. On a daily chart the March Yen futures made a strong move, but what would
be healthy would for the Yen to digest this big move gradually. The March
Japanese Yen is on the

TradingMarkets.com Momentum 5 List.

Stocks ended lower Thursday as investors locked in profits
despite more indications of an economic recovery and optimistic words from
Federal Reserve Chairman Alan Greenspan.

The March Dow Jones Industrial Average futures
(
DJH2 |
Quote |
Chart |
News |
PowerRating) pulled off of
the worst levels of the day and try to rally, but ended the day at 10542.000
down 28.000. The tech-heavy March Nasdaq 100 Index futures
(
NDH2 |
Quote |
Chart |
News |
PowerRating)
pulled back 1.00 to 1511.15 after advancing 24.11 points the previous session.
The March S&P 500 futures
(
SPH2 |
Quote |
Chart |
News |
PowerRating) fell 3.200 to 1159.300. The March
Dow Jones Industrial Average is on the

TradingMarkets.com Momentum 5 List.

Crude oil had its biggest gain in more than two months
on expectations that U.S. demand will strengthen while producers keep export
limits in place.

Federal Reserve Chairman Alan Greenspan said the economy is rebounding from a
recession, a sign that demand may be rising for petroleum products. Oil has
rallied 25 percent since OPEC-led supply reductions began on Jan. 1. The
producers want to keep output low at least through June.

Crude oil for April delivery
(
CLJ2 |
Quote |
Chart |
News |
PowerRating) rose as much as $1.60, or 6.9
percent, to $24.75 a barrel on the New York Mercantile Exchange, the highest
price since Sept. 24 and the biggest one-day increase since Dec. 26. Prices have
been at or close to five-month highs since the end of February. Crude oil
settled at 23.71 up .56. April unleaded gasoline
(
HUJ2 |
Quote |
Chart |
News |
PowerRating) rose 2.35 to
end at 76.38 and April heating oil
(
HOJ2 |
Quote |
Chart |
News |
PowerRating) added 1.96 to 61.89. April
crude oil, April heating oil and April unleaded gasoline are all on the

TradingMarkets.com Momentum 5 List.

Soybean futures rocketed to five-month highs on the Chicago
Board of Trade, reacting to reports of a U.S.-China agreement on the trade of
genetically modified agricultural products. Soybean prices jumped 1.5% higher at
the opening, reaching their highest level since mid-October. May soybeans
(
SK2 |
Quote |
Chart |
News |
PowerRating) ended at 459.500 up 5.0. May soybeans are on the

TradingMarkets.com Momentum 5 List.