Wesley Chapel, Florida, September 2, 2008 -- Corn futures (CZ8) closed lower at the Chicago Board of Trade last Friday, nearer the session low and at a bearish weekly low close. Price action Monday then saw a big gap-lower trade on the daily bar chart as prices hit a fresh two-week low.

Bearish "outside markets" – a firmer U.S. dollar and lower crude oil prices – have pressured corn recently. This holiday-shortened trading week is also starting out with the key outside markets in a decidedly bearish posture for corn futures. The crude oil market has hit a fresh multi-month low and the U.S. Dollar Index a fresh multi-month high.

"Corn bulls are fading and the bears have fresh downside technical momentum. The bulls' next upside price objective is to push prices above solid technical resistance at $5.80 3/4, which would fill the upper side of Monday's downside price gap on the daily chart," said Jim Wyckoff, analyst for www.TradingEducation.com.

The next major downside price objective for the bears is to push and close prices below strong psychological support at $5.00 a bushel.

From an important "intermarket" perspective, VantagePoint Intermarket Analysis Software (www.TraderTech.com) is presently providing bearish near-term signals for December corn futures. VantagePoint is a valuable trading tool for which a trader can glean clues on potential near-term price trend changes or continuation of present trends. These near-term clues provided by VantagePoint can and do give a trader a key edge.

The VantagePoint daily bar chart for December corn futures shows that VantagePoint's Predicted Neural Index (PIndex) is presently reading 0.00, suggesting more downside price pressure in the near term.

When the predicted simple three-day moving average value of typical prices is greater than today’s actual three-day moving average value, the Predicted Neural Index is “1.00,” indicating that the market is expected to move higher over the next two days. When the predicted simple three-day moving average value of typical prices is less than today’s actual three-day moving average value, the Predicted Neural Index is “0.00,” indicating the market is expected to move lower over the next two days.

The Predicted Neural Index is either correct or incorrect so its performance can be measured in terms of percent correct to produce the accuracy statistics cited for VantagePoint, which has a predictive accuracy rate of around 80% across a wide range of markets and time spans in ongoing research.

The VantagePoint daily bar chart for December corn futures also shows that the Predicted 4-day exponential moving average is poised to drop below the actual 10-day simple moving average of the close line. That is a very early bearish clue that there is more downside price potential in the near term. The last two bearish line crossovers (in early July and in early August on the chart) turned out to be very good at forecasting more downside price action in the near term.

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About Market Technologies, LLC
Headquartered in Tampa Bay since its founding in 1979 by Louis B. Mendelsohn, with trading software customers in over 90 countries worldwide, Market Technologies is a fast growing, Inc. 500, company and recognized world leader in market forecasting. Market Technologies researches and develops proprietary trend forecasting and market timing technologies that utilize artificial intelligence applied to intermarket and hurricaneomic analysis, in order to forecast various commodity and financial markets throughout the world. These presently include, but are not limited to, stocks, stock indexes, ETFs, energies, interest rates, currencies, metals, grains, meats, softs and Forex, covering over 600 world markets. (www.tradertech.com)

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