VantagePoint User's Manual by Magna Forex Signals

VantagePoint Userâ&#x20AC;&#x2122;s Guide 8.0.10

Table of Contents INTRODUCTION ............................................................................................................1 CHAPTER 1: VANTAGEPOINT FORECASTS .........................................................5 PREDICTED NEURAL INDEX ............................................................................................5 PREDICTED STRENGTH ...................................................................................................7 PREDICTED MOVING AVERAGES ....................................................................................8 PREDICTED CROSSOVERS ...............................................................................................9 PREDICTED DIFFERENCES .............................................................................................13 PREDICTED HIGH AND LOW ..........................................................................................16 PREDICTED MOMENTUM INDICATORS ..........................................................................17 CHAPTER 2: WHAT’S NEW IN VANTAGEPOINT...............................................27 CHAPTER 3: INSTALLATION...................................................................................29 DATA REQUIREMENTS ..................................................................................................29 SYSTEM REQUIREMENTS ..............................................................................................29 INSTALLATION ..............................................................................................................32 CUSTOMER SUPPORT ....................................................................................................41 CHAPTER 4: ACTIVATION, REGISTRATION, AND REACTIVATION...........43 OVERVIEW ....................................................................................................................43 INITIAL ACTIVATION PROCEDURE ................................................................................45 REGISTRATION PROCEDURE .........................................................................................48 REACTIVATION PROCEDURES .......................................................................................52 CHAPTER 5: DATA CONFIGURATION .................................................................55 DATA REQUIREMENTS ..................................................................................................55 CONFIGURE DATA PROVIDER .......................................................................................56 CHAPTER 6: OVERVIEW OF FEATURES .............................................................57 NAVIGATION PANE .......................................................................................................57 VANTAGEPOINT OPTIONS .............................................................................................58 PORTFOLIOS..................................................................................................................62 MARKETS TREE ............................................................................................................72 MARKETS TREE FUNCTIONS .........................................................................................74 TOOLBAR ......................................................................................................................84 MAIN MENU .................................................................................................................89 CHAPTER 7: VIEW CHARTS AND REPORTS .......................................................93 DATA UPDATES ............................................................................................................93 VIEW ALL MARKETS IN A CATEGORY ..........................................................................93 VIEW SPECIFIC MARKETS .............................................................................................94 VIEW SPECIFIC MARKETS AND CONTRACTS .................................................................95 CUSTOMIZE CHARTS .....................................................................................................97 CHART PROPERTIES INDICATORS TAB ........................................................................103 CUSTOM DEFAULT SETTINGS .....................................................................................109 CHART PROPERTIES CUSTOM TREND LINES TAB ........................................................111 OPPORTUNITY CALCULATOR ......................................................................................113 CUSTOMIZE DAILY REPORTS ......................................................................................116 CUSTOMIZE HISTORY REPORTS ..................................................................................117 EXPORT HISTORY REPORT DATA TO EXCEL ...............................................................118

CHAPTER 8: SCAN FOR OPPORTUNITIES ........................................................123 SFO FEATURES AND FUNCTIONS ................................................................................123 IDENTIFY A POTENTIAL POSITION TRADE ...................................................................134 CHAPTER 9: FREQUENTLY ASKED QUESTIONS.............................................141 INSTALLATION ............................................................................................................141 DATA AND CONFIGURATION .......................................................................................141 REPORTS AND CHARTS ...............................................................................................145 ACTIVATION AND LICENSING .....................................................................................151 CHAPTER 10: VANTAGEPOINT LICENSE AGREEMENT ...............................153

Introduction Congratulations on your decision to become a VantagePoint Intermarket Analysis Software customer. VantagePoint gives you an opportunity to gain an edge over other traders by analyzing how related markets affect the market you are trading and providing early clues about market trends and potential trend reversals. VantagePoint is a user-friendly toolbox of predictive indicators that can augment your current trading approach by adding a broadened intermarket perspective to your trading. VantagePoint can help you stay out of potentially undesirable trades or give you the confidence to take potentially profitable trades that you might have avoided previously. The key to successful trading is often decisive action at the right time and VantagePointâ&#x20AC;&#x2122;s predictive indicators can provide you with that timing edge. We highly advise that you familiarize yourself with the VantagePoint features and capabilities so that you can become comfortable reading its charts and informational reports before you actually use any of this information to make actual trading decisions. Remember, the markets will always be there, so you do not need to chase after a trade because another one will always come along. VantagePoint was first released in 1991 by Louis Mendelsohn, a leading trading software pioneer, and has been revised extensively over the years as the globalization of the financial markets has accelerated. It is a very robust software program, analyzing individual markets from both a single-market as well as an intermarket perspective. Recognizing the global nature of the worldâ&#x20AC;&#x2122;s financial markets and the effects they have on each other, VantagePoint examines the relationships of twenty-five related markets on each target market and makes highly accurate trend forecasts based upon the effects of these underlying and often obscure relationships. Intuitively, you know that these relationships exist and affect prices in multiple markets. VantagePoint provides you with a means to capitalize on these relationships in todayâ&#x20AC;&#x2122;s globally connected markets. -1-

Using the pattern recognition capabilities of neural networks (a form of artificial intelligence) and a unique set of intermarket data, VantagePoint predicts short-term, medium-term and long-term moving averages from which you can choose, depending on the time frame of your trading style. Then VantagePoint computes unique crossover leading indicators based on the difference between the predicted moving averages and today's actual moving averages. Changes in the value of the crossover leading indicator from one day to the next anticipate market direction and often provide an early indication that a market trend is about to change direction. These changes can help you determine if VantagePoint expects price action in a market to be choppy, maintain its trend, accelerate its current price movement, or begin to stall out. Additional independent indicators within VantagePoint may be used to confirm expected changes in trend direction. When all indicators agree, there is a high probability that the market will move in the indicated direction. VantagePoint even predicts the high and low prices for the next day to help you determine where to set stops, whether to tighten them, or whether to close out trades. The Predicted Neural Index, a proprietary indicator, predicts if a three-day moving average of the typical price (average of the dayâ&#x20AC;&#x2122;s high, low and close) will rise or fall in the next two days, giving you additional confirmation regarding the anticipated trend direction. And the Predicted Strength indicator will suggest which markets might present the best trading opportunities. VantagePoint also predicts the MACD, RSI, TSI, and Stochastic values one day in advance. These predictions will be very valuable to technical traders who use them to anticipate market sentiment, trend reversals, and overbought/oversold conditions. Position traders can utilize VantagePoint's predicted highs and lows to help set entry points and then use the predicted high/low range on subsequent days to adjust daily stops. For example, if you are long in a market and it is expected to continue to move up tomorrow, you might set your sell stop for tomorrow below -2-

tomorrow's predicted low. This strategy can help decrease the likelihood of being stopped out prematurely during the day. Day traders can use the predictions of the next day's high and low to help determine entry and exit points. If the indicators on the Daily Report suggest that tomorrow is likely to be an up day, day traders can wait for the market to trade down toward the predicted low, then enter a long position that might then be closed out intraday at or near the predicted high. On a day when the market is expected to move lower, a day trader could enter a short position at or near the predicted high and then exit at or near the predicted low. Take the time to read the remainder of this User’s Guide, which offers a comprehensive overview of all of VantagePoint’s features and functionality. Your VantagePoint package includes two short, highly-informative books written by Mr. Mendelsohn explaining his intermarket approach to technical analysis. These will give you an excellent background on intermarket analysis and show you why VantagePoint is so unique. The software also includes an extensive on-line help capability. VantagePoint opens the door of intermarket analysis to both novice and experienced traders. It provides a powerful set of predictive analysis tools, which can be of tremendous benefit to day and position traders in stock, futures, Forex, and ETF markets. Because we want you to succeed with VantagePoint as much as possible, you are entitled to receive reasonable telephone support at no cost for the first twelve months after you receive your software. Our highly-trained support personnel can answer any specific questions that you may have that are not covered in this User’s Manual, the on-line help, or in Mr. Mendelsohn’s books. If you do contact Market Technologies for additional telephone support regarding VantagePoint, we will be happy to assist you, but we cannot give you any trading advice or specific trade recommendations, as our support personnel are not licensed brokers or investment trading advisors. If you need assistance in this regard, you should contact your broker or investment advisor.

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Chapter 1: VantagePoint Forecasts The heart and soul of VantagePoint Intermarket Analysis Software is its market forecasts. VantagePoint applies the pattern recognition capabilities of neural networks to analyze market data. VantagePoint uses data from the main market and twenty-five closely related markets, also known as intermarkets, to make forecasts for the target market. Technical indicators were traditionally calculated using only past price data from a single market; any turning points they indicated would always lag behind the market. VantagePoint indicators use the price predicted several days in the future to overcome the lag in the trend. VantagePoint offers a wide variety of charted forecasts and predicted technical indicators that can be displayed on a chart, history report, or daily report. The acronyms in parenthesis below show how the indicators are identified on the chart headings.

Predicted Neural Index The Predicted Neural Index (PIndex) is a proprietary indicator that predicts whether or not a 3-day simple moving average of the typical price (average of the day’s high, low, and close price) will be higher or lower two days in the future than it is today. The Predicted Neural Index compares today’s actual 3-day moving average to a predicted 3-day moving average. When the predicted simple 3-day moving average value of typical prices is greater than today’s actual 3-day moving average value, the Neural Index is “1.00,” indicating that the market is expected to move higher over the next two days. When the predicted simple 3day moving average value of typical prices is less than today’s actual 3-day moving average value, the Predicted Neural Index is “0.00,” indicating the market is expected to move lower over the next two days. -5-

The performance of the Predicted Neural Index is used to determine the accuracy of each VantagePoint market. The Predicted Neural Index is either correct or incorrect which means that its performance can be measured in terms of percent correct. VantagePoint has a predictive accuracy rate of approximately 80% across a wide range of markets and time spans. Here is how the Predicted Neural Index appears on a VantagePoint chart and in the Daily Report:

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Predicted Strength Predicted Strength (PStr) is a 3-day moving average of typical price predicted two days ahead minus the current 3-day moving average of typical price. A value close to zero means that there will be little difference between the predicted and current moving averages. A relatively high Predicted Strength value indicates that the predicted moving average will be much higher than the current moving average. A relatively low Predicted Strength value indicates that the predicted moving average will be much lower than the current moving average. Predicted Strength numbers vary from market to market; there are no set maximum or minimum values.

Predicted Strength is a confirming indicator that can help you identify the market that is showing the most strength or weakness and indicates if the market is getting overbought or oversold. If other predictive indicators in a number of markets are suggesting trading opportunities, the Predicted Strength can help you determine which of those markets might be the best one to actually trade. -7-

Predicted Moving Averages The purpose of moving averages is to smooth out the daily fluctuations in price so the underlying trend can be observed. Unfortunately, moving averages introduce lag time. Take the following example of a rising price: Monday Tuesday Wednesday Thursday Friday

$1 $2 $3 $4 $5

On Friday, the price is $5, but a 5-day simple moving average of the price would be (1 + 2 + 3 + 4 + 5) / 5 = $3. In this example, a 5-day simple moving average introduced two days of lag. If the price for next Monday and Tuesday were known on Friday: Next Monday Next Tuesday

$6 $7

Then a predicted 5-day simple moving average could be calculated as (3 + 4 + 5 + 6 + 7) / 5 = $5. Thus, we get the benefit of smoothing with low lag. The idea behind VantagePoint is to use neural networks and intermarket analysis to produce low lag, predicted moving averages. Using “typical prices” – the average of the day’s high, low and close prices – as the data source, VantagePoint forecasts exponential moving averages (EMA) for six time periods and simple moving averages (SMA) of the close for three time periods for use with a series of predicted indicators: Predicted 2-Day EMA Typical One Day Ahead (P2EMA+1) Predicted 3-Day EMA Typical One Day Ahead (P3EMA+1) Predicted 4-Day EMA Typical Two Days Ahead (P4EMA+2) Predicted 6-Day EMA Typical Three Days Ahead (P6EMA+3) Predicted 8-Day EMA Typical Two Days Ahead (P8EMA+2) Predicted 18-Day EMA Typical Three Days Ahead (P18EMA+3) -8-

Actual 5-Day SMA Close (A5SMA) Actual 10-Day SMA Close (A10SMA) Actual 15-Day SMA Close (A15SMA)

Predicted Crossovers In general, when VantagePoint’s predicted moving average crosses above the actual moving average, VantagePoint expects the market trend to turn up within the forecast time horizon related to each of these indicators. You can either see the crossover visually on the chart or numerically in the Daily Report. Note that the list of numbers in the Predicted Short Term Difference, Predicted Medium Term Difference and Predicted Long Term Difference columns in the Daily Report change from red and minus signs to black and increasingly larger positive numbers to indicate a rising market. Conversely, when the predicted moving average crosses below the actual moving average, VantagePoint expects the market trend to turn down within the forecast time horizon related to each of these indicators. Note that the list of numbers in the Predicted Short Term Difference, Predicted Medium Term Difference and Predicted Long Term Difference columns in the Daily Report change from black and positive numbers to red and minus signs and increasingly larger negative numbers to indicate a declining market. The crossover indicators are not predicting the trend several days in the future but use the price predicted several days in the future to reduce the lag in the trend.

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VantagePoint presents crossover indicators in four pre-defined chart formats: Predicted Short Term Crossover- the Predicted 2-Day EMA Typical One Day Ahead (P2EMA+1) crosses above or below the Actual 5-Day SMA Close (A5SMA).

Predicted Medium Term Crossover- the Predicted 4-Day EMA Typical Two Days Ahead (P4EMA+2) crosses above or below the Actual 10-Day SMA Close (A10SMA).

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Â&#x192; Predicted Long Term Crossover- the Predicted 6-Day EMA Typical Three Days Ahead (P6EMA+3) crosses above or below the Actual 15-Day SMA Close (A15SMA).

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Â&#x192; Predicted Triple Crossover- incorporates three predicted moving averages to anticipate changes in market trend direction: Short-term- Predicted 3-Day EMA Typical One Day Ahead (P3EMA+1) Medium-term- Predicted 8-Day EMA Typical Two Days Ahead (P8EMA+2) Long-term- Predicted 18-Day EMA Typical Three Days Ahead (P18EMA+3)

An uptrend is predicted when the short-term predicted moving average crosses above the medium-term and long-term predicted moving averages. Some traders may also require the medium-term to be above the long-term predicted moving average. A downtrend is predicted when the short-term predicted moving average crosses below the medium-term and long-term predicted moving averages. Again, the relationship between the mediumterm and long-term predicted moving averages can be used as an additional predictive tool. Some traders may also require the medium-term to be below the long-term predicted moving average. Using short-term, medium-term and long-term predicted moving averages reduces lag time while helping screen out false crossovers. This helps you clearly observe the underlying trend and anticipate changes in trend direction. - 12 -

Predicted Differences In addition to the crossover indicators, VantagePoint also uses exponential and actual moving averages to compare against each other and produce another set of indicators that forecast strengthening or weakening market trends: Â&#x192; Predicted Short Term Difference (PTSDiff)- the amount the predicted 2-Day EMA Typical One Day Ahead (P2EMA+1) is above or below the Actual 5-Day SMA Close (A5SMA). Â&#x192; Predicted Medium Term Difference (PTMDiff)- the amount the Predicted 4-Day EMA Typical Two Days Ahead (P4EMA+2) is above or below the Actual 10-Day SMA Close (A10SMA).

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Predicted Long Term Difference (PTLDiff)- the amount the Predicted 6-Day EMA Typical Three Days Ahead (P6EMA+3) is above or below the Actual 15-Day SMA Close (A15SMA). Predicted High Difference (PHighDiff)- the amount that today's Predicted High is above or below yesterday's actual high. Predicted Low Difference (PLowDiff)-the amount that today's Predicted Low is above or below yesterday's actual low.

Predicted difference indicators can be used in conjunction with the Predicted Neural Index to confirm the trend direction or to indicate that a trend may be ready to reverse. If you prefer a more visual display, the difference values can be shown on the bottom of a VantagePoint chart. If the chart shows a predicted moving average crossover, the slope or angle of the predicted difference indicator(s) should be in agreement with the slope or angle of the predicted moving average to provide confirmation for a trade. If you prefer to look at numbers, the Daily Report provides the predicted difference indicator values in three columns related to the time frame of your trading strategy. If a series of difference numbers changes from negative to positive or the numbers become less negative, it suggests strength and the market trend may rise (indicated by R for rising on the 10-year T-note table in the Daily Report below). If a series of difference numbers changes from - 14 -

positive to negative or the numbers become less positive, it suggests weakness and the market trend may decline (indicated by F for falling on the table below). Note how the predicted difference numbers relate to the Predicted Neural Index reading for the same day. How aggressively you wish to trade the changes in numbers or the slope of the indicator will depend on your trading strategy and risk propensity.

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Predicted High and Low VantagePoint also produces forecasts for the next day’s expected high and low. Knowing the probabilities for the next day’s range, day traders can position themselves within these targets, or position traders can use breakouts of the predicted range to take positions or to place their stops.

Predicted High (PHigh)- the predicted high for the selected date. Predicted Low (PLow)- the predicted low for the selected date. Note: On the chart, the values of the next day’s predicted highs and lows are displaced one trading day into the future so the predicted highs and lows are charted on the day for which the values are expected to occur, much like a chart showing a displaced moving average. On the Daily Report, these values are shown on the day the predictions were made. On a Daily Report these values are named Predicted Next Day High and Predicted Next Day Low to indicate that they are predicted to occur on the next trading day.

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Predicted Momentum Indicators VantagePoint generates predictions for many of the most widelyused momentum indicators. These indicators work best when markets are trading within a range or in choppy market conditions. When a market moves into an extended trend, a momentum indicator may give false information about a trend change for long periods of time before the price trend actually does change. Momentum indicators can be used in the following general ways: Â&#x192; Value and position of the indicator line- the location of the indicator reading on a scale typically between 0 and 100 reflects when a price trend may be weakening or strengthening by comparing the current value with previous values. Â&#x192; Overbought/oversold- if the predicted momentum indicator exceeds a prescribed boundary, this indicates the market may be becoming overbought or oversold. The market may be due for a correction that will bring the indicator reading back within the specified boundaries.

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Â&#x192; Divergence- divergence between the predicted momentum indicator and market prices may indicate upcoming changes in market sentiment. For example, if prices are rising and make higher highs but the predicted momentum indicator turns downward and makes lower lows, as the chart below illustrates, this could indicate a bearish turn. If the predicted momentum indicator turns upward while prices are rising and reaching new highs, this could indicate a bullish turn.

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Predicted MACD (Moving Average Convergence Divergence) Predicted MACD is another way of using moving averages to predict market changes. PMACD charts the difference between two predicted exponential moving averages and uses another exponential moving average of the PMACD as a trigger for trading decisions.

Predicted MACD (PMACD) predicts the MACD value one trading day ahead. MACD is a trend-following momentum indicator calculated by subtracting a 20-day exponential moving average from a 10-day exponential moving average. MACD Trigger (Trigger) predicts the MACD trigger one day ahead. The MACD trigger is calculated as a 9-day exponential moving average of the MACD. When the PMACD line crosses below the Trigger line, this predicts a possible reversal of the current uptrend to a new downtrend. When the PMACD line crosses above the Trigger line, this predicts a possible reversal of the current downtrend to a new uptrend. Another crossover indicator occurs when the PMACD crosses above or below the zero line. - 19 -

PMACD can also be used as an overbought/oversold detector when it pulls away from the Trigger, suggesting the price of the market may be due for a correction that will bring the averages back together. PMACD can also be used to spot underlying strength or weakness when its movement diverges from the movement of prices.

Predicted RSI (Relative Strength Index) As its name implies, the Predicted Relative Strength Index (PRSI) is a momentum indicator that calculates a marketâ&#x20AC;&#x2122;s strength or weakness by comparing recent price gains to price losses.

Predicted RSI (PRSI) predicts the 14-day relative strength index (RSI) one day ahead. The PRSI compares an average of up closes to an average of down closes for a specified period to predict a marketâ&#x20AC;&#x2122;s strength or weakness one day ahead. The PRSI is plotted on a scale of 0 to 100. Readings above 70 predict an overbought market; readings below 30 predict an oversold market (thresholds indicated by dashed lines on chart). Predictions above 70 or below 30 suggest that the market may be making a top or bottom in the next day. - 20 -

Predicted True Strength Index The Predicted True Strength Index (PTSI) is known as a "double smoothed" moving average. A 20-day exponential moving average is applied to the difference in predicted typical prices and then a 10day EMA is applied to the result.

Predicted TSI (PTSI) predicts the True Strength Index (TSI) one trading day in advance. The True Strength Index is a momentum indicator that was derived from the Relative Strength Index (RSI) and identifies overbought or oversold conditions. The Predicted TSI (black line) is plotted with a trigger (blue line). TSI Trigger (Trigger) is a 7-day exponential moving average of the Predicted TSI. Market reversals may be anticipated when the TSI crosses over the trigger line. Predicted TSI values can range from +100 to -100. The VantagePoint chart also shows dashed lines at +25 and -25. A PTSI value greater than +25 predicts an overbought condition; a PTSI value lower than -25 predicts an oversold condition. You may also look for divergence between TSI and price and use these to anticipate if a trend will continue or if a reversal will occur. Trend and momentum changes are predicted when the PTSI line crosses the trigger line. - 21 -

Predicted Stochastic The Predicted Stochastic (PStoch) indicator is based on the position of the close relative to the high or low of the day. During periods of price decreases, the daily closes tend to accumulate near the daily lows. During periods of price increases, the daily closes tend to accumulate near the daily highs. The Predicted Stochastic indicator is an oscillator designed to predict overbought and oversold conditions one day in advance.

Predicted Stochastic (PStoch) predicts a 14-day stochastic oscillator (%K) one day ahead, comparing the marketâ&#x20AC;&#x2122;s current close to its price range over a period of time. Stochastic Trigger (Trigger) predicts a 3-day moving average (%D) of the stochastic oscillator (%K) one day ahead. The Predicted Stochastic charts the two lines, Predicted Stochastic (%K) and Stochastic Trigger (%D), plotted on a scale ranging from 0 to 100. Readings above 80 predict an overbought condition; readings below 20 predict an oversold condition (thresholds indicated by dashed lines on chart).

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The Predicted Stochastic (%K) line is faster and more sensitive than the Stochastic Trigger (%D) line. When the Predicted Stochastic (%K) crosses over the Stochastic Trigger (%D) line in overbought (>80) or oversold (<20) territory, this could be an indication that the market is about to reverse course. The table below shows the abbreviation and definition of each value that appears in VantagePoint: Value

Abbreviation

Definition

Actual 5-Day SMA Close

A5SMA

Actual 5-day simple moving average of close prices.

Actual 10Day SMA Close

A10SMA

Actual 10-day simple moving average of close prices.

Actual 15Day SMA Close

A15SMA

Actual 15-day simple moving average of close prices.

Actual final price at which a market is traded on a given day. Some exchanges use settlement price to represent the close.

High

Actual highest price at which a market is traded on a given day.

Low

Actual lowest price at which a market is traded on a given day.

MACD Trigger

Trigger

Predicts the MACD trigger one day ahead. The MACD trigger is calculated as a 9-day exponential moving average of the MACD.

Open

Actual first price at which a market is traded on a given day.

Open Interest

Actual number of outstanding long or short positions for a particular futures contract. A measure of liquidity.

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Value

Abbreviation

Definition

Predicted 2Day EMA Typical One Day Ahead

P2EMA+1

Predicts a 2-day exponential moving average of typical price one trading day ahead.

Predicted 3Day EMA Typical One Day Ahead

P3EMA+1

Predicts a 3-day exponential moving average of typical price one trading day ahead.

Predicted 4Day EMA Typical Two Days Ahead

P4EMA+2

Predicts a 4-day exponential moving average of typical price two trading days ahead.

Predicted 6Day EMA Typical Three Days Ahead

P6EMA+3

Predicts a 6-day exponential moving average of typical price three trading days ahead.

Predicted 8Day EMA Typical Two Days Ahead

P8EMA+2

Predicts an 8-day exponential moving average of typical price two trading days ahead.

Predicted 18Day EMA Typical Three Days Ahead

P18EMA+3

Predicts an 18-day exponential moving average of typical price three trading days ahead.

Predicted High

PHigh

Predicts the high that will occur on the selected date.

Predicted High Difference

PHighDiff

The difference between today's Predicted High and yesterday's actual high.

Predicted Low

PLow

Predicts the low that will occur on the selected date.

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Value

Abbreviation

Definition

Predicted Low Difference

PLowDiff

The difference between today's Predicted Low and yesterday's actual low.

Predicted Long Term Difference

PTLDiff

The amount the Predicted 6-Day EMA Typical Three Days Ahead (P6EMA+3) is above or below the Actual 15-Day SMA Close (A15SMA).

Predicted MACD

PMACD

Predicts the moving average convergence divergence (MACD) one day ahead.

Predicted Medium Term Difference

PTMDiff

The amount the Predicted 4-Day EMA Typical Two Days Ahead (P4EMA+2) is above or below the Actual 10-Day SMA Close (A10SMA).

Predicted Neural Index

PIndex

Predicts if a 3-day simple moving average of the typical price will be higher or lower two trading days in the future.

Predicted Next Day High

PNHigh

Predicts the high for the next trading day.

Predicted Next Day Low

PNLow

Predicts the low for the next trading day.

Predicted RSI

PRSI

Predicts the 14-day relative strength index (RSI) one day ahead.

Predicted Short Term Difference

PTSDiff

The amount the predicted 2-Day EMA Typical One Day Ahead (P2EMA+1) is above or below the Actual 5-Day SMA Close (A5SMA).

Predicted Stochastic

PStoch

Predicts a 14-day stochastic oscillator (%K) one day ahead.

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Value

Abbreviation

Definition

Predicted Strength

PStr

A 3-day moving average predicted two days ahead minus the current 3-day moving average.

Predicted TSI

PTSI

Predicts the True Strength Index (TSI) one day ahead.

Predicted TSI Trigger

Trigger

A 7-day exponential moving average of the Predicted TSI.

Stochastic Trigger

Trigger

Predicts a 3-day moving average (%D) of the stochastic oscillator (%K) one day ahead.

Volume

Vol

The number of shares or contracts traded during the session. For equities, multiply the number displayed in VantagePoint by 100.

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Chapter 2: What’s New in VantagePoint The Predictive Technologies Group, responsible for the development of VantagePoint, is proud of recent software innovations. Our latest version includes many new features that improve the overall user experience. Bond and Note Values- the 30 Year U.S. Treasury Bonds and 2, 5, and 10 Year U.S. Treasury Notes are now reported using the same minimum price fluctuation as the exchange. The 30 Year Bonds and 10 Year Notes have a minimum price fluctuation in multiples of one-half of 1/32. The 2 and 5 Year Notes have a minimum price fluctuation in multiples of one-quarter of 1/32. Scan for Opportunities- helps screen potential trading opportunities in charts or reports that are open in a portfolio. Opportunity Calculator- determines the monetary value associated with a price move. Custom Trend Lines- draw one or more trend lines on a chart and link the start and end points to a day’s open, high, low, or close, if desired. User-defined default chart and report settings- allow you to determine which indicators VantagePoint will display by default each time it opens a new chart or report. User-defined global options- allow you to control settings such as default contract, number of contracts displayed in the Markets Tree, and how much historical data to use when creating charts or reports.

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Chapter 3: Installation Data Requirements VantagePoint requires end-of-day data from a compatible data provider. Because Commodity Research Bureau (CRB) is the preferred data provider, a CRB Power System Software CD was included in your shipment. This provides rapid access to the data required by VantagePoint. However, you must purchase a data subscription to download end-of-day data on an ongoing basis. The chapter on configuration describes the VantagePoint data requirements in detail.

System Requirements Windows Processor 600-megahertz (MHz) Pentium III-compatible or faster processor; 1-gigahertz (GHz) or faster processor recommended Operating Systems Windows XP with Service Pack 2 or later Microsoft Windows 2000 Professional with Service Pack 4 Windows Vista Note: We recommend running Windows Update to obtain the latest patches, service packs, and other updates before installing VantagePoint. Memory 256 MB RAM minimum; 1 gigabyte (GB) or more recommended for use on Windows XP or Windows 2000 2 GB is recommended for use on Windows Vista - 29 -

Hard Disk Approximately 400 MB of available hard-disk space for the recommended installation Up to approximately 800 MB of additional available hard-disk space for data provider software and data Drive CD-ROM drive Display Super VGA (1,024x768) or higher-resolution video adapter and monitor Other Devices Microsoft Mouse or compatible pointing device Other Requirements Microsoft Internet Explorer 6.0 SP1 or later Administrator privileges Internet Connection Framework: You must complete the .NET Framework 2.0 installation which is included with VantagePoint.

Mac Note: VantagePoint does not run directly on the Mac OS. It requires a Windows environment which can be established using BootCamp on an Intel-based Mac. Processor Intel-powered

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Operating System Â&#x192; OS X 10.5 and greater, and the following: 1. BootCamp 2. A registered copy of either Microsoft Windows XP (Home or Professional) or Microsoft Windows Vista (Home or Business or Ultimate). Memory Â&#x192; 2 GB system RAM

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Installation If you determined that your computer meets the VantagePoint system requirements, you may begin the software installation as described below. Anti-virus and firewall programs can interfere with normal software installations. We recommend that you temporarily disable your anti-virus and firewall programs before installing VantagePoint. Please remember to enable all security programs after VantagePoint is successfully installed. Note: The following instructions describe installing VantagePoint on a completely unmodified version of Windows XP, SP2. It is possible that your computer may already have some of the required components. If so, you will not see all of the screens that are described below. 1. Place the VantagePoint CD into your CD-ROM drive. After a brief delay the installation process will automatically begin. Click Next.

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2. Read the nine statements that appear on the Disclaimer screen. Click in the circle to the left of “I Understand and Agree to the Terms” to acknowledge that you have read, understand, and agree with each statement. Click Next.

3. Read the license agreement carefully. Click in the circle to the left of “I Understand and Agree to the Terms” if you accept the terms. Click Next.

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4. If necessary, the Windows Installer is updated. Click Next.

5. Click in the circle to the left of I Agree to accept the License Agreement. Click Next to continue.

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6. Click Finish to restart your computer and complete the update of Windows Installer 3.1.

7. Click Next on the Welcome to the Microsoft .NET Framework 2.0 Setup screen.

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8. Left click to put a check mark in the box to the left of â&#x20AC;&#x153;I accept the terms of the License Agreementâ&#x20AC;?. Click Install.

9. Microsoft .NET Framework 2.0 Setup begins installing components.

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10. Click Finish to complete the .NET Framework 2.0 Setup.

11. VantagePoint installs the SQL Server Instance. Files are extracted.

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12. The SQL Server installation begins by Installing Prerequisites.

13. The Setup Progress screen shows which components are being configured.

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14. Accept the default settings on the Select Installation Folder screen. Click Next.

15. Click Next to start the installation.

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16. Read the information about VantagePointâ&#x20AC;&#x2122;s data requirements. Click Next.

17. Click Close to complete the installation.

18. You now have a VantagePoint icon on your desktop and can proceed with the brief, one-time configuration process.

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Customer Support Market Technologies offers customer support Monday - Friday 9:00 AM to 5:00 PM Eastern Time. Customer support is free for the first year after you first receive the software. Support can answer questions involving installation, configuration, registration, and daily use. Phone: 813-973-3875 Email: Support@tradertech.com

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Chapter 4: Activation, Registration, and Reactivation Your VantagePoint software requires initial activation, registration of specific categories, and periodic reactivation. These security procedures use technologies that prevent software piracy and protect your investment in VantagePoint.

Overview Activation Key Market Technologies Customer Support emailed your activation key after you ordered VantagePoint. You will use the same activation key to complete initial activation, register specific categories, and reactivate periodically. You will also use this activation key if you want to make category exchanges or transfer VantagePoint from one computer to another. You should keep a readily accessible record of your activation key. However, Market Technologies Customer Support keeps a record of your activation key and can provide it to you if necessary.

Initial Activation VantagePoint must be activated before you can begin using it. After completing the initial activation, you will have access to all market categories during the registration period. This registration period gives you the opportunity to consider a variety of categories and then decide which ones you would like to register. Activation and registration are linked to a specific computer. The activation server collects hardware information from your computer and uses it to create a unique hardware ID. This hardware ID is - 43 -

referenced each time you submit a request to activate, register, or reactivate. This means you must register and reactivate VantagePoint on the same computer that was used for the initial activation.

Registration You must contact Market Technologies Customer Support to register your categories before the end of the registration period. A technician will create a registration that is specific to your category selection. You will no longer be able to access any categories if you have not registered VantagePoint before the end of the registration period.

Reactivation VantagePoint requires periodic reactivation. By default, this function occurs automatically over the Internet and does not require your intervention. Although the default can be changed to permit manual reactivation, this is not recommended. Activation, registration, and reactivation are required and can be completed rapidly over the Internet. You follow similar procedures if you want to make a category exchange or move VantagePoint from one computer to another. All of these activities are described in click-by-click detail in the following sections. Most of the security-related procedures happen “behind-thescenes” on the activation server. This allows you to follow the same simple steps in the “Activation Wizard” to complete initial activation, registration, and reactivation. As a result, the terminology used in the “Activation Wizard” will be the same whether you are performing initial activation, registration, or reactivation.

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Initial Activation Procedure You received your activation key by email after you ordered VantagePoint. This key is required by the initial activation process, so please take a moment to retrieve it from your email. Contact Market Technologies Customer Support if you did not receive your activation key. Have your activation key available, connect to the Internet, and then follow these steps to activate your software: 1. Double-click the VantagePoint icon on your desktop. 2. The Activation Wizard appears after a brief delay. Click Next.

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3. Market Technologies Customer Support emailed you an activation key after you ordered VantagePoint. Copy the activation key from your email and then paste it into the blank box on this screen. Click Next.

4. The activation server reads the hardware code of your computer and downloads activation details.

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5. Click Finish to exit the Activation Wizard. Initial activation is now complete.

6. VantagePoint opens automatically after a brief delay. 7. The â&#x20AC;&#x153;Activatedâ&#x20AC;? message on the status bar confirms that your copy of VantagePoint is activated.

8. You may now proceed with the brief, one-time data configuration and begin viewing charts and reports.

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Registration Procedure Activation allows you to run VantagePoint on a particular computer and access all categories during the registration period. Registration, which must take place within the registration period, gives you ongoing access to the specific categories that you have licensed. You must register VantagePoint on the same computer on which it was initially activated. Note: You will not be able to access any categories if you do not register VantagePoint before the end of the registration period. You must use your initial activation key during the registration process. Market Technologies Customer Support has a record of your activation key and can provide it to you if necessary. Have your activation key available, connect to the Internet, and then follow these steps to register your software: 1. Contact Market Technologies Customer Support: Phone: 813-973-3875 Email: Support@tradertech.com Let support know which categories you would like to register. A technician will update your profile on the activation server. When this is complete, the technician will direct you to proceed with steps 2 - 7. Note: The screenshots in the following instructions refer to activation or licensing instead of registration. This limitation in terminology is imposed by the activation server which does not differentiate between initial activation, registration, or reactivation. 2. Click Help on the VantagePoint main menu. Then click Activate VantagePoint on the drop down menu.

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3. Click Activate VantagePoint.

4. The Activation Wizard appears. Click Next.

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5. Use the same activation key that Market Technologies Customer Support emailed you after you ordered VantagePoint. This is the same key that was used to complete the initial activation. Copy the activation key from the email and then paste it into the blank box on this screen. Click Next.

6. VantagePoint obtains the license information from the activation server. This license information includes the specific categories that you chose to register.

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7. Click Finish to exit the Activation Wizard. Activation is complete. This means that VantagePoint was successfully registered.

8. The Markets Tree gives a quick visual confirmation of your registration status. The yellow lock icon no longer appears by the names of your registered categories. The screenshot below shows a combination of registered and unregistered categories. In this example, Energies, Grains, Meats, Metals, and Softs are registered. However, Currency Futures, ETFs, Forex Pairs, Indices, and Interest Rates are unregistered and display the yellow lock icon.

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Reactivation Procedures Automatic Reactivation You MUST reactivate VantagePoint regularly to ensure uninterrupted access to charts and reports. By default, VantagePoint is set to reactivate automatically over the Internet. Although automatic reactivation is highly recommended, you can change the default setting to allow manual reactivation. Follow the steps below to turn off automatic reactivation and complete the manual reactivation procedure.

Manual Reactivation 1. Close any open portfolio. 2. Click File on the main menu. 3. Click Options on the drop down menu.

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4. This displays the Reactivation tab of the VantagePoint Intermarket Analysis Software Options screen. Remove the check mark from the box to the left of “Automatically reactivate and don’t show status notifications”. Click OK to exit and apply the new setting.

5. VantagePoint will begin to display reactivation reminders on the status bar five days before expiration. 6. It is not necessary to contact Market Technologies Customer Support each time VantagePoint gets close to the expiration date. Just use your original activation key and follow the steps in the Activation Wizard to complete manual reactivation. Note: The screenshots in the Registration Procedure instructions refer to activation or licensing instead of reactivation. This limitation in terminology is imposed by the activation server which does not differentiate between initial activation, registration, or reactivation.

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Category Changes Market Technologies Customer Support will update your registration whenever you license additional categories or request an exchange. Reactivate VantagePoint to incorporate the updated registration and obtain immediate access to your new category selection. Note: All customers are allowed ONE free exchange. This means that in ONE phone call you may switch as many categories as desired, free of charge. There is a charge for EACH additional exchange. Contact Market Technologies Customer Support and let them know exactly what exchange you would like to make. A technician will then direct you to reactivate your software using the original activation code. After this process is complete you will have access to the new selection of categories.

Transfer VantagePoint can only be activated, registered, and reactivated on one computer. Contact Market Technologies Customer Support if you need to transfer your software to a new computer. A technician will help you deactivate VantagePoint on your original computer and then activate it on your new one.

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Chapter 5: Data Configuration VantagePoint analyzes end-of-day market data from a compatible data provider. This chapter describes how to configure VantagePoint to use this data to generate reports and charts.

Data Requirements The VantagePoint Preferred Data Provider is: Commodity Research Bureau (CRB) Software: CRB Power System Sales: 800-621-5271 Technical Support: 800-621-5271 Website: www.crbtrader.com Commodity Research Bureau (CRB) offers VantagePoint customers special pricing discounts and is fully up to speed on the interaction between CRB data and VantagePoint. A CRB data disk was included in your VantagePoint software shipment to facilitate you getting up and running with VantagePoint quickly. Your data providerâ&#x20AC;&#x2122;s technical support staff can assist you with installing their data retrieval software, copying the VantagePoint market data to your hard drive, and downloading daily updates.

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Configure Data Provider 1. Install the VantagePoint Edition of the CRB Power System Software. Distribute historical data from the startup CD and retrieve data from the CRB DataCenter. 2. Open VantagePoint by double clicking the program icon that is located on your desktop. 3. When you open the program for the first time, the Configure Data Provider screen automatically appears. Click in the circle to the left of Commodity Research Bureau CRB. The default data folder, C:\CRB 80, will then be shown in the box labeled "Please select the folder that contains market data".

4. Click OK to accept the settings and complete the configuration process. You can start viewing charts and reports.

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Chapter 6: Overview of Features This chapter gives an overview of the features and functions of the VantagePoint user interface. It includes descriptions of the Navigation Pane, VantagePoint Options, Portfolios, Markets Tree, Search, Toolbar, Main menu, and Statusbar.

Navigation Pane The Navigation Pane displays the Portfolios and Markets Tree that are described in detail later in this chapter. Use auto hide to control the position of the Navigation Pane.

Auto hide Â&#x192; Single-left click the pushpin icon to activate auto hide.

Â&#x192; Click outside of the Navigation Pane and it slides to the left side of your screen, out of view.

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Click the Navigation Pane tab to unhide. The pane then slides back to its original position.

Single-left click the pushpin icon if you would like to deactivate auto hide.

VantagePoint Options VantagePoint Options allow you to control how much data is processed when charts are created, number of contracts displayed in the Markets Tree, default contract to open, maximum number of tabs to open, price adjustments to ignore, and if VantagePoint is reactivated automatically. To access the options: Click File on the main menu. Click Options on the drop down menu.

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General Tab The settings on the General tab control data, contracts, tabs, and adjustments.

Open portfolios faster by “excluding data before”- By default VantagePoint processes all available data each time it creates a chart or report. Most markets have data that begins in 2000 and the necessity of processing several years of main and intermarket data can affect performance, especially when opening multiple charts and reports. Click the down arrow to the right of the Data Begin Date box to access a calendar. Click on the desired date to select it. Or type a different year directly in the box.

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Adjust the maximum tabs allowed to open- By default VantagePoint opens a maximum of 200 tabs (a tab is defined as a single chart, history report, or daily report). However, your computer’s system resources may allow you to open more or less tabs. Click the up or down arrow to the right of the box to edit the maximum number of tabs.

Limit the contracts displayed in the Markets Tree - By default the Markets Tree displays all of the contracts that are present in the data. This can amount to several years of futures contracts for each market. You can limit the number of contracts displayed in the Markets Tree by changing the Contract Begin Date and/or Contract End Date. Click the down arrow to the right of either of these boxes and click on the desired date. Or type a different year directly in one or both of these boxes. Change the default contract to open- By default, VantagePoint opens the current futures contract (as determined by the contract last trading day). To change this, click the down arrow to the right of this box and select either Cash or Continuous.

Determine when to receive market price adjustments notifications- When VantagePoint creates a new chart or report, it looks for changes that were made to the actual data and generates a notification message. You can set the software to - 60 -

ignore adjustments that are less than a desired percentage of the previous price. VantagePoint will not display a notification message unless the adjustment exceeds this threshold.

Reactivation Tab VantagePoint is set to reactivate automatically. Changing this setting is not recommended. However, if you want to reactivate VantagePoint automatically, remove the check mark from the box to the left of “Automatically reactivate and don’t show status notifications”.

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Portfolios Portfolios provide an easy way to create and save functional groups of charts and reports. Time spent setting up portfolios is a good investment which will greatly reduce the time required for daily market analysis. For example suppose that you mainly trade the EUR / USD. However, as part of your daily decision making process you also review the predictions for Gold, NY Light Crude Oil, and the British Pound futures. You could create a portfolio named EUR / USD. Open all of the charts or reports for the markets listed above. Customize as desired and save the portfolio. The next time you open the EUR / USD portfolio it will look exactly the same as it did when it was saved. This saves a great amount of time because you do not need to open every chart or report separately and then customize them again.

Default Portfolio VantagePoint has a Default Portfolio which opens automatically at startup. This allows you to start viewing charts and reports immediately after the software is configured.

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General Information Click on the Maximize Up arrow to the right of Markets to expand the Portfolios window. A portfolio must be open before VantagePoint will create Charts, Daily Reports, or History Reports. By default, VantagePoint opens a portfolio at startup. You can choose a different startup portfolio or specify that no portfolio should be automatically opened at startup. The name of the open portfolio is displayed in the VantagePoint title bar. When you close the portfolio, the program background changes from white to dark grey. You can save one or more Charts, Daily Reports, or History Reports in a portfolio and then open that portfolio later to restore them all. The portfolio not only saves the properties of each Chart, Daily Report, or History Report, but also the layout of all the charts and reports on the screen.

Portfolio Menu Use the Portfolio menu to change the selected portfolio or right click on a portfolio name to display its context menu. Add a new Portfolio Right click anywhere on the area labeled Portfolios.

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Click New on the drop down menu.

This adds “New Portfolio” to the list of portfolio names. Type directly over “New Portfolio” to rename. Press the Enter key on your keyboard to save the new name. Open all of the Charts, Daily Reports, and History Reports that you would like to include in the new portfolio. Customize each Chart, Daily Report, or History Report as desired. These custom settings are saved when you save the portfolio.

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Save the new Portfolio Right click on the new portfolio name. Click Save on the drop down menu.

The portfolio saves a snapshot of all the open charts and reports, their properties, and their layout on the screen. In addition, the current page setup properties are saved in the portfolio. Note: Choose carefully when saving changes. What you see when you save changes is what you will get the next time you open the portfolio.

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Open a Portfolio Right click on the name of the Portfolio that you want to open. Click Open on the drop down menu.

Only one portfolio can be open at a time. Opening a portfolio will automatically close the current one. If any changes have been made to the current portfolio, you will be prompted to save them before it is closed. Set a Portfolio to open automatically at startup Right click on the name of the portfolio that you want to open automatically.

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Click Set Startup on the drop down menu.

A green checkmark is displayed to the left of the startup portfolio. In the picture shown below, “Forex” is set to open automatically at startup.

Note: A startup portfolio is not required. Follow the steps described above but select Clear Startup from the menu. This will remove the green checkmark to the left of the portfolio name and it will no longer open automatically upon startup.

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Delete a Portfolio Right click on the name of the portfolio that you want to delete. Click Delete on the drop down menu.

A message appears which asks you to confirm the deletion. Click Yes to delete the portfolio. Click No to keep the portfolio.

Note: Choose carefully. There is NO way to restore a deleted portfolio. You have to manually recreate it.

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Rename a Portfolio Right click on the name of the portfolio that you wish to rename. Click Rename on the drop down menu.

Type the new portfolio name in the box and press the Enter key on your keyboard.

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Close an Open Portfolio Right click on the name of the open portfolio. Click Close on the drop down menu.

If changes were made to the portfolio, a message appears which asks if you want to save these changes. Click Yes to save the changes and close the portfolio. Click No to discard the changes and close the portfolio. Click Cancel to keep the portfolio open. This gives you the opportunity to review the portfolio and decide if you want to save the changes. Rollover Contracts Use the Rollover Contracts function to maintain only current contracts in a portfolio. VantagePoint uses the last trading date of each contract as a roll trigger. It rolls ALL expired contracts in the portfolio and replaces them with the nearest active month (front month) contracts. Open the portfolio that contains the expired contracts.

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Â&#x192; Click Rollover Contracts on the drop down menu.

Â&#x192;

A message appears which shows how many contracts will rollover. Click Yes if you wish to proceed with the rollover. VantagePoint will roll ALL expired contracts in the portfolio and this action can not be undone. Click No or Cancel to back out of the contract rollover process.

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Export History Report(s) to XML Export History Report(s) to Excel Use these functions to export data from all open history reports and save in either Excel or XML format.

Markets Tree VantagePoint displays the Markets Tree on the left side of the screen. The Markets Tree can be used to view charts and reports, access a wide-variety of general market information, learn specific information about each contract, search for markets, and check registration status.

Organization of the Markets Tree Â&#x192; VantagePoint markets are organized into three master categories: Commodities, Financials, and Stocks. Â&#x192; The three master categories are organized into market categories such as Energies, Grains, ETFs, Indices, and Capital Goods. - 72 -

Â&#x192; Each market category contains the individual markets for which VantagePoint makes predictions. Click on the [+] sign to the left of any category to display the individual markets.

Â&#x192; Each individual market has a list of contracts for which VantagePoint makes predictions. Click on the [+] sign to the left of any individual market to display the contracts.

Note: These contracts are determined by the contents of the data providerâ&#x20AC;&#x2122;s folder.

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Markets Tree Functions The following sections describe how to use the Markets Tree to search for markets, access contract and market properties, and determine registration status.

Search for Markets Use the Search feature if you are not certain how a market is categorized. You can search for a market name or a data provider symbol.

Click directly in the box to the left of the Find button. Type in the complete or partial name of the market that you want to find. Click Find to execute the search. VantagePoint locates the market and highlights the name on the Markets Tree. More than one market may meet the search criteria. For example, suppose you want to find every market that has “Gold” in the name. Type Gold in the search box and then click Find. VantagePoint highlights the first market that has Gold in the name. Click Find again to highlight the next market that has Gold in the name. Keep clicking Find until VantagePoint locates the desired market. Search for an exact data provider symbol by typing brackets around the symbol. For example, type [WY] to locate Weyerhaeuser. Execute a “symbol starts with” search by typing a single left bracket before the symbol. For example, type [WY to locate a market that has a data provider symbol that begins with WY.

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Click the down arrow to the right of the Search box to access a list of previous searches. Left click on one of these to execute one of the previous searches. VantagePoint displays a message when it can not locate the requested search item. Click OK to clear the message.

Market Properties Each market listed in the Markets Tree has a corresponding Market Properties screen that shows general market information, lists intermarkets, and gives a link to service bulletins. Locate the desired market in the Markets Tree. Single-right click on it and select Properties on the drop down menu. The corresponding Market Properties screen displays information on three tabs: General, Intermarkets, and Advanced.

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Â&#x192; The General tab displays basic market information obtained from the exchange on which the market is traded.

Â&#x192; The Intermarkets tab displays the top 25 interrelated markets and the range of data available for each.

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The Advanced tab displays a link to the VantagePoint Service Bulletins Website which lists information about market symbol changes and delistings.

The data symbol used for a particular market is subject to change, often with very little advance notice. Follow these instructions to quickly and easily modify VantagePoint to accommodate a symbol change.

Contact your data provider to ensure that your VantagePoint data portfolio contains data for the new symbol.

Access the Market Properties screen for the affected market.

Click on the Advanced tab.

The box in the Symbol Override section shows the data symbol that is currently in use. Type the new symbol directly in this box.

Click OK.

Close and then reopen VantagePoint. The next time you open a view for this market, VantagePoint will use the updated data symbol.

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Contract Properties Each contract listed in the Markets Tree has a corresponding Contract Properties screen that lists a variety of practical information such as data file start and end dates, actual values for individual days, last trading day, and data provider symbol. Find the desired market in the tree and then display the list of available contracts. Single-right click on the contract of interest and then select Properties from the drop down list. The Contract Properties screen appears immediately:

Today's date is circled in red. Days that have trading data are shown in bold. Left click on any day shown in bold and the actual data from this day is displayed in the boxes on the right side of the screen. The selected date is highlighted. Click the left-pointing arrow, to move the calendar back one month Click the right-pointing arrow to move the calendar forward one month. - 78 -

The Provider box displays the name of your data provider. The Symbol is shown in the box in the bottom left corner of the screen. This is the symbol used by your provider to represent data for this market. The provider symbol may be different than the symbol used by the exchange or other sources of market information. Contract Data Range shows the start and end date for the chosen contract. When you are finished reviewing the contract information click Close. Note: Because VantagePoint uses end-of-day data, the last day of data will not correspond to the current date. The last day of data will be from the previous trading day. Last Trading Day is the day on which trading ceases and the contract expires. This applies only to futures contracts and the date is determined by the exchange on which the market is traded. The last trading day is used as a roll trigger by the Rollover Contracts feature.

Determine Registration Status The Markets Tree shows which categories are registered and which are not. Unregistered versions of VantagePoint display a lock icon to the left of each category name. After you register VantagePoint, the lock icon is removed from the registered category names.

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Navigation Controls VantagePoint displays charts and reports on tabs on the right side of the screen. Use any of the methods described below to quickly locate any view of interest. These instructions use charts as an example. The same navigation controls can also be used with any combination of reports and charts. Press the CTRL + SHIFT + TAB or CTRL + TAB keys on your keyboard to change the active view. Click the Open Files arrow which is located immediately to the right of the last tab to display a drop down list of open charts.

Note: The tooltip “Open Files” is only visible when you hover your cursor over the arrow. Left click on the desired market name, Natural Gas in this example, to make it the active chart.

The Navigation Controls described below become available when VantagePoint creates more views than can be displayed at one time. Use the left-pointing series of arrows to navigate to previous views. For example, suppose you created charts for all of the markets in a category. - 80 -

Note: The tooltips shown in the following screenshots only appear when the cursor is hovered over the appropriate arrow. Click the First arrow to switch to the view for the first chart.

Click the Previous Page arrow to show the previous set of tabs.

Click the Previous arrow to make the previous tab the active view.

Â&#x192; Use the right-pointing series of arrows to navigate in the opposite direction. Click the Next arrow to show the next tab.

Click the Next Page arrow to show the next set of tabs.

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Click the Last arrow to view the last set of created charts,

Â&#x192; Click the X to close the active view.

Tab Groups Use tab groups to view charts and reports side-by-side. The screenshot displayed below has a horizontal tab group on the bottom and a vertical tab group on the top. You can divide your workspace into as many groups as you want, and use the splitter bars in-between the tab groups to resize them.

To create a new tab group, first open several charts or reports and select the one you want to place into a new tab group. Then select New Horizontal Tab Group or New Vertical Tab Group from the Window menu.

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You may also create a tab group by single-right clicking on the tab of interest:

Â&#x192; New Horizontal Tab Group displays the original chart at the bottom of a split screen.

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New Vertical Tab Group displays the original chart on the right side of a split screen.

Create combinations of vertical and horizontal tab groups to arrange the open views in any combination desired. You may also use drag and drop to move views from one tab group to another. Left click on the tab corresponding to the view that you want to relocate. Hold down the left mouse button and drag the view to the desired location. Release the mouse button.

Toolbar

To change the size of the Toolbar icons or remove the Toolbar Click View on the main menu Click Toolbar on the drop down menu. Click Large, Medium, or Small to change the size of the icons on the Toolbar. - 84 -

Â&#x192; Click to put a checkmark to the left of None to hide the Toolbar.

Function of the Toolbar icons The Navigation Pane button hides the Markets Tree so the entire window can be used to view charts. Hide

Click this icon to hide the navigation pane. Show

Click this icon to display the navigation pane. Print

Click the Print icon to automatically print the active view. Properties

Click the Properties icon to access Chart Properties, Daily Report Properties, or History Report Properties screens. Properties launches the properties screen that corresponds to the active view. - 85 -

For example, if you click Properties while viewing a chart, the Chart Properties screen will be displayed. Data Range Use the data range control to easily view anywhere from 2 weeks to 5 years of data on a chart or report. Click the down arrow to the right of the Data Range box to display a variety of options from 2 weeks to 5 years, Custom and Days. Select the desired Data Range and it will be applied to the active Chart, Daily Report, or History Report.

Select Days and a box appears that allows you to edit the number of days of data that are displayed on the active view. Type the desired number of days directly in this box or use the arrow keys to increase or decrease the number displayed. Click outside the Days to Display box to apply the new number and clear the box from your screen. Or, press the Enter key on your keyboard.

Note: VantagePoint will not display less than three days of data on a chart or report. Select Custom and a tool appears that allows you to customize the range of data displayed on the active view. Type the desired dates directly in the boxes. Or click the down arrows to display a - 86 -

calendar. Use the calendar to select the desired dates. Press the Enter key on your keyboard after you are satisfied with the new date range.

Zoom In

Zoom In- magnifies the active view. Zoom Out

Zoom Out- reduces the active view. Zooming in and out of the chart cycles through the data ranges from 2 weeks to 5 years but does not change the appearance of the chart. Zooming in and out of a Daily or History Report makes it bigger or smaller on the screen but does not affect the data range. Previous Page

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Previous Page- shows previous data on the active view. Suppose you are viewing a chart that shows a data range of three months and the most recent data is currently displayed on the chart. When you click Previous Page, the previous three months of data is shown on the chart. Next Page

Next Page- works the same way as Previous Page except it advances the data from earlier to more recent data. View Chart

Click View Chart to change the active history or daily report to a chart. Or press F2 on your keyboard. View Daily Report

Click View Daily Report to change the active history report or chart to a daily report. Or press F3 on your keyboard.

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View History Report

Click View History Report to change the active daily report or chart to a history report. Or press F4 on your keyboard. Help

Click Help or F1 to access the online Help topics.

Main Menu This section describes the File, View, Window and Help menus. The Portfolio functions were described in detail at the beginning of this chapter.

File Â&#x192; Configure Data Provider- displays the Configure Data Provider screen. This menu item is only enabled when there is no open portfolio. Â&#x192; Clear Stored Predictions- clears all predictions which are stored in VantagePoint. You should clear the predictions periodically to reduce the size of the database and free space on the hard drive. This option is also used when you need to incorporate changes or corrections made by your VantagePoint compatible data provider, for example, after a stock split occurs. This menu item is only enabled when there is no open portfolio.

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Export History Report to Excel- exports history report data into an Excel spreadsheet. This menu item is only enabled when a History Report is the active view. Export History Report to XML- exports history report data and saves it in a XML file. This menu item is only enabled when a History Report is the active view. Copy to Clipboard- copies the active chart image so it can be pasted into another application. This menu item is only enabled when a chart is the active view. Page Setup- displays the Page Setup screen which shows options for setting the print orientation and margin sizes. Print Preview- displays the Print Preview screen which shows how the printed output will appear. Print- displays the Print dialog box. Options- displays the VantagePoint Options screen which allows you to configure global settings. This menu item is only enabled when there is no open portfolio. Properties- displays the chart, daily report, or history report Properties screen. Exit- closes VantagePoint. You will be prompted to save any changes made to the open portfolio.

View Toolbar- displays a drop down list of size options for the toolbar icons. Left click to choose the desired icon size. Or choose "None" to hide the toolbar. Navigation Pane- adds or hides the Navigation Pane which displays the list of portfolios and markets. Statusbar- shows or hides the Statusbar which is displayed at the bottom of the screen. The Statusbar displays actual data and predictions from the active chart, daily report, or history report and information about the status of the program. - 90 -

Data Range- shows a drop down list of options ranging from 2 weeks to 5 years. Left click to display the selected data range on the active chart, daily report, or history report. Zoom In and Zoom Out- magnifies or reduces the size of the active daily report, or history report. Zooming in and out of a chart cycles through the data ranges from 2 weeks to 5 years but does not change the appearance of the chart. Previous Page and Next Page- moves through ranges of data on a chart, daily report, or history report. For convenience, these icons are also located on the toolbar. Chart, Daily Report, and History Report- changes the format of an active view, for example, to display the active chart as a history report.

Window Close All Tabs- closes all the open views but keeps the portfolio open. If you close the portfolio after closing all tabs, VantagePoint asks if you want to save the changes made to your portfolio. If you save the changes, then the portfolio will be blank the next time you open it. New Horizontal Tab Group- tiles one or more views horizontally. This splits the window and displays the active tab below the other. New Vertical Tab Group- tiles one or more views vertically. This splits the windows and displays the active tab to the right of the others. Move to Previous Tab Group and Move to Next Tab Group moves open views between various horizontal and/or vertical tab groups. Sort Tabs- sorts the open tabs into alphabetical order. Maximize Tab- becomes enabled when there is more than one tab group.

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Help Contents, Index, Search- provides access to the online Help. Activate VantagePoint- provides access to the Activation Wizard. About- displays detailed information about your version of VantagePoint.

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Chapter 7: View Charts and Reports After you configure VantagePoint to use data from your end-of-day data provider, you may start viewing charts and reports. VantagePoint displays actual and predicted values for each of your markets in a chart, daily report or history report. The charts and reports feature a variety of customization options that you can change to suit your needs. This chapter gives a brief description of each of these features.

Data Updates Use your data providerâ&#x20AC;&#x2122;s software to download the latest end-of-day data. Contact your data provider to find out when this data is available for download each day. Do not attempt to download data earlier than the time given because the update may be incomplete and cause errors with the predicted values generated by VantagePoint. Note: Your data provider's technical support staff can answer all of your questions about daily downloading and resolve any problems that may occur.

View All Markets in a Category Use the Markets Tree to view charts, daily reports, or history reports for all markets in a category. For futures markets, VantagePoint creates the view using front month data. These instructions describe how to create views for all markets in the Energies category. Follow a similar set of instructions to create views for all markets in any category of interest. Â&#x192; Open a portfolio. - 93 -

Single-right click on the desired category in the markets tree. Click Open Click Chart, Daily Report, or History Report as desired. Or, click All to open a chart, daily report, and history report for each market in the category.

View Specific Markets Use the Markets Tree to view charts, daily reports, or history reports for specific markets. For futures markets, VantagePoint creates the view using front month data. These instructions describe how to create a view for NY Light Crude Oil. Follow a similar set of instructions to create a view for any market of interest. Open a portfolio. Single-right click on NY Light Crude Oil on the Markets Tree. Click Open on the drop down list

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Left click Chart, Daily Report, or History Report as desired. Or click All, to open a chart, daily report and a history report for the selected market.

View Specific Markets and Contracts Use the Markets Tree to view charts, daily reports or history reports for specific markets and contracts. These instructions describe how to create a view for the Heating Oil continuous contract. Modify these instructions to create a view for any desired market and contract. Open a portfolio. Single-right click on the Heating Oil Continuous contract in the Markets Tree.

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Â&#x192; Click Open on the drop down list. Left click Chart, Daily Report, or History Report as desired. Or click All, to open a chart, daily report and a history report for the selected market and contract.

Â&#x192; Use the drag and drop function to quickly change the contract displayed in the open view. For example, suppose you just created a history report for the Heating Oil continuous contract. Now, you want to view a history report for the Natural Gas Continuous contract. Drag the Natural Gas continuous contract from the Markets Tree and drop it on the open history report. VantagePoint now displays the Natural Gas continuous contract in the open view. The custom settings of the original view are retained.

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Customize Charts VantagePoint charts may be customized to suit your needs. The customizable options include: default settings, font size and type, colors and line thicknesses, type of indicators and number of data days displayed. You can also save you custom settings as the new default. To access the Chart Properties screen: Create a chart. Right click anywhere on the chart and then click Properties on the context menu. Or click the Properties icon on the toolbar.

Chart Properties General Tab The General Tab allows you to configure chart appearance, settings, data range, and crosshairs.

Click Apply then OK to view custom settings on the active chart. - 97 -

Â&#x192; Click Apply to All to apply the custom settings to all open charts. Â&#x192; Click Cancel to exit the Chart Properties screen without committing any changes. Fonts Click the Font Style button to access the Font screen.

Make the desired changes to Font, Font style, Size and Color. Click Apply to see the new Font on the active chart. Click OK to return to the Chart Properties screen. Background Color Click the down arrow to the right of the box labeled Background Color to change the background color of the chart. Note: If you change the background color, it may also be necessary to change the line colors to make them visible against the new background.

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Left click on the desired color to choose it. The new color will then be shown in the Background Color box.

Click Custom to access a Colors screen on which you can create your own custom color for the background of your chart. Click Cancel to close the color selection box without making any changes. Data Range Three months of data are displayed on each chart by default. Set a custom data range using any of the following methods: Click the down arrow to the right of the box labeled Type to view several pre-set data range options. Select the desired range.

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Click the down arrow to the right of the box labeled Type and select Custom from the drop down list.

Edit the dates in the “From” and "To" boxes: •

To change the start date, click the down arrow to the right of the box labeled "From".

•

Click the right-pointing arrow to advance the calendar to the next month.

•

Click the left-pointing arrow to change the calendar to the previous month.

•

Left click on the desired date and the calendar will disappear. The new date will be displayed in the "From" box.

•

To change the ending date, click the down arrow to the right of the box labeled "To".

•

Click the left-pointing arrow to move the calendar backward one month. Choose an alternative date as described above.

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â&#x20AC;˘

Click the down arrow to the right of the box labeled Type and select Days.

Type the desired number of days directly into the box. Or use the up and down arrows to change the number. Settings

Show Title Left click to clear the checkmark from the Show Title box if you do not want to display a title on your chart. This saves space when displaying several charts above each other. Show Gridlines Left click to clear the checkmark from the Show Gridlines box if you do not want to display gridlines on your chart.

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Crosshairs

Vertical Select Vertical if you want a vertical line cursor. Drag the cursor with your mouse. When the cursor is resting on a price bar, that day's actual and predicted values are displayed on the chart heading. The cursor remains where you drop it, unless the Previous and Next arrows on the toolbar are used to change the data range displayed on the active view. Horizontal Select Horizontal if you want a horizontal line cursor. When you move the horizontal cursor, the price is updated in the chart heading. Both Select Both if you want a cursor that combines the functionality of the Horizontal and Vertical settings. This results in a crosshairs cursor which you can drag to any position on the chart. Follow mouse Select Follow mouse in combination with Vertical, Horizontal, or Both. The cursor follows the movements of your mouse rather than staying in a fixed position.

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Chart Properties Indicators Tab Click on the Indicators tab to access the settings that control which Actual Market Data, Predictive Forecasts, Predictive Differences, and Predictive Technical Indicators are displayed on the chart.

Actual Market Data By default, VantagePoint uses Bars to display the actual market data. Actual market data is downloaded from your end-of-day data provider. VantagePoint reads and displays the contents of these data files.

Select Candlesticks, Line on Close, Line on High, or Line on Low to choose an alternative method of displaying the actual values. o Line on Low is a single line which is drawn through each dayâ&#x20AC;&#x2122;s low price. o Line on High is a single line which is drawn through each dayâ&#x20AC;&#x2122;s high price. - 103 -

o Line on Close is a single line which is drawn through each day’s close price. Click on None to remove Actual Market Data from the chart. Click in the box to the left of Volume to display the contract volume at the bottom of the chart. For equities, multiply the volume displayed in VantagePoint by one hundred to get the actual traded volume. This is necessary because VantagePoint reads, but does not adjust, the contents of the end-of-day data files. Click in the box to the left of Open Interest to display the contract open interest at the bottom of the chart. Note: Volume and Open Interest are not properties of all markets and contracts.

Predictive Forecasts By default, VantagePoint displays the Medium Term Crossover which charts the Predicted 4-Day EMA Typical Two Days Ahead (P4EMA+2), the Actual 10-Day SMA Close (A10SMA) and the Predicted Neural Index.

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Select High & Low Price to chart the Predicted High (PHigh) and Predicted Low (PLow). Or press F5 on your keyboard. Select Short Term Crossover to chart Predicted 2-Day EMA Typical One Day Ahead (P2EMA+1) and Actual 5-Day SMA Close (A5SMA). Or press F6 on your keyboard. Select Long Term Crossover to chart the Predicted 6-Day EMA Typical Three Days Ahead (P6EMA+3) and the Actual 15-Day SMA Close (A15SMA). Or press F8 on your keyboard. Select Triple Crossover to chart the Predicted 3-Day EMA Typical One Day Ahead (P3EMA+1), the Predicted 8-Day EMA Typical Two Days Ahead (P8EMA+2), and the Predicted 18-Day EMA Typical Three Days Ahead (P18EMA+3). Or press F9 on your keyboard. Press F7 on your keyboard to return to the default Medium Term Crossover. Click None to remove Predictive Forecasts from your chart. Click the Custom button to access the Custom Forecasts screen. These settings allow you to display any combination of predicted and actual moving averages on your chart. Select the forecasts that you would like to chart and then click OK.

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Predictive Differences

Select Short Term to chart the Predicted Short Term Difference (PTSDiff). Select Medium Term to chart the Predicted Medium Term Difference (PTMDiff). Select Long Term to chart the Predicted Long Term Difference (PTLDiff). Select High to chart the Predicted High Difference (PHighDiff). Select Low to chart the Predicted Low Difference (PLowDiff). Select Strength to chart the Predicted Strength (PStr).

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Predictive Technical Indicators

Select MACD to chart the Predicted Moving Average Convergence Divergence (PMACD) and the MACD Trigger (Trigger). Or press Shift + F2 on your keyboard. Select Stochastic to chart the Predicted Stochastic (PStoch) and the Stochastic Trigger (Trigger). Or press Shift + F4 on your keyboard. Select Neural Index to chart this indicator. Or press Shift + F3 on your keyboard. Select RSI to chart the Predicted Relative Strength Index (PRSI). Or press Shift + F5 on your keyboard. Select TSI to chart the Predicted True Strength Indicator (PTSI). Or press Shift + F7 on your keyboard.

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Chart Properties Line Styles Tab Click on the Line Styles tab to access the settings that control the Color and Width of the lines displayed on your chart.

Color Click the down arrow to the right of the Color box to access a screen which shows a variety of alternative color selections for the chosen chart component.

Â&#x192; Left click on the desired color. The new color will then be shown in the Color box. - 108 -

Click Custom to access a Colors screen on which you can create your own custom color for the chosen chart component. Click Cancel to clear the color selection box without choosing a new color.

Width Click the down arrow to the right of the box labeled Width to see a variety of line widths. Left click directly on the desired line width.

Click Apply then OK to view custom settings on the active chart. Click Apply to All to apply the custom settings to all open charts. Click Cancel to exit the Chart Properties screen without committing any changes.

Custom Default Settings VantagePoint allows you to define your own custom default chart, daily report, or history report settings. Your personal default settings are then automatically applied each time VantagePoint opens a new chart or report. You can also easily restore previous default settings. Note: These instructions describe how to set custom default settings for a chart. Follow a similar series of steps to set custom default settings for daily or history reports. Apply the desired customization options to an open chart.

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Â&#x192; Click the down arrow to the right of Default Chart Properties.

Â&#x192; Select the desired option from the drop down menu.

o Save As Default retains your custom settings and automatically applies them each time a new chart is created. o Load From Default restores custom settings which were saved as default. This is helpful if you want to undo changes that you made to your original custom default settings. o Restore Factory Default restores the original default settings (bars, Medium Term Crossover, and Neural Index).

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Chart Properties Custom Trend Lines Tab You can draw any number of custom trend lines on a chart. The uses of trend lines include identification of the overall direction of actual prices over time and determination of support and resistance levels. Custom trend lines are also used in the Opportunity Calculator, a tool that helps you determine the monetary value associated with a price change.

Draw a Custom Trend Line and Change the Properties Â&#x192; Left click on the desired starting point, for example, the high price on one of the daily price bars. Hold the left mouse button down and drag the line to the desired ending point, for example, the high price on another daily price bar. Follow this procedure to draw as many lines as desired on your chart.

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Â&#x192; Right click anywhere on the chart and choose Properties on the drop down menu.

Â&#x192; Highlight the name of the line and change the color and width as desired.

Â&#x192; Click Apply to display the line using the new color and width. Note: Custom trend lines are associated with particular markets and contracts. As a result of this, you can not use Apply to All or set custom default colors.

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Opportunity Calculator The Opportunity Calculator determines the dollar value associated with a particular price move. The calculation is based on the difference between the starting price and ending price, and the full point and full tick values of a market. You can display multiple Opportunity Calculators on one chart if desired. Draw a custom trend line as described above. Right click directly on the line to select it and access a drop down menu.

Select Link to Open if you would like the custom line to begin on the open of the first day and end on the open of the last day. Select Link to High if you would like the custom line to begin on the high of the first day and end on the high of the last day. Select Link to Low if you would like the custom line to begin on the low of the first day and end on the low of the last day.

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Select Link to Close if you would like the custom line to begin on the close of the first day and end on the close of the last day. Note: When you link a custom line to open, high, low, or close the default line color changes to green. Verify that the custom line is in the desired position on the chart. To do this, right click on the line and choose Properties from the drop down list.

The Custom Trend Lines tab shows the line’s begin date and price, end date and price, and if the line is linked to open, high, low, or close. Review the information and click OK to exit this screen.

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Â&#x192; Then right click on the line and choose Opportunity Calculator from the menu.

Â&#x192; The opportunity calculator shows the number of trading days, the number of ticks that the price changed, and the dollar value per contract. The start date and price, and end date and price associated with the calculation are displayed on the top right corner of the title bar.

Note: The calculations utilize the marketâ&#x20AC;&#x2122;s full point and full tick values. These values can be found on the General tab of the Market Properties screen. Some markets, such as the ASX All Ordinaries, do not have associated point and tick values. The Market Properties screen - 115 -

displays N/A for both full point and full tick value. As a result, the opportunity calculator will display “n/a” for these types of markets. Right click on the line to access the drop down menu again.

Select Delete Custom Line to remove the selected line from the chart. Remove the checkmark from the left of Opportunity Calculator to remove the calculator from the chart. Select Unlink Custom Trend Line and the selected line will no longer be linked to open, high, low, or close.

Customize Daily Reports VantagePoint daily reports may be customized to suit your needs. The customizable options include: font style, background color, and data range. To access the Daily Report Properties screen: Open a daily report. Right click anywhere on the report and then click Properties on the context menu.

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Or click the Properties icon on the toolbar.

The Daily Report Properties screen allows you to configure appearance and data range. These settings are described in detail in the Chart Properties General Tab section earlier in this chapter.

Customize History Reports VantagePoint history reports may be customized to suit your needs. The customizable options include: font style, background color, data range, and indicators. To access the History Report Properties screen: Open a history report. Right click anywhere on the report and then click Properties.

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Or click the Properties icon on the toolbar.

The General tab allows you to configure appearance and data range. These settings are described in detail in the Chart Properties General Tab section earlier in this chapter. The settings on the Indicators tab control which data are displayed on the active report.

Export History Report Data to Excel Follow these steps to export history report data and save as an Excel or XML file. Open one or more history reports. Right click anywhere on a history report and choose Export History Report to Excel. When you use this method, only data from the selected report will be exported.

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Or, right click on the name of the open portfolio. Then select Export History Report(s) to Excel. When you use this method, data from all open history reports will be exported.

The next screen that appears is labeled Save As. Select the desired Save in folder and change the File name if desired.

Click the Save button. The process is complete when the Save As screen disappears. - 119 -

Â&#x192; Find the file(s) in the Save in location that was selected on the Save As screen.

Export History Report Data to XML You may also choose to export data from a single report or a group of reports to XML: a. To export data from a single report, right click on the report of interest and choose Export History Report to XML.

b. To export data from all the reports open in a portfolio, right click on the portfolio name in the Navigation Pane and choose Export History Report(s) to XML.

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The Browse for Folder screen appears. By default, VantagePoint saves XML files directly to My Documents. Click OK to accept the default. However, you may want to organize the XML files in a folder. Click the Make New Folder button. Type in a name for the new folder and click OK. Find the desired XML file in the chosen location. Right click the file and choose Open With and then Microsoft Office Excel.

Choose to open as an XML list and then click OK.

Click OK if you receive a message that indicates that “the specified XML source does not refer to a schema”.

The history report then opens in an Excel spreadsheet.

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Chapter 8: Scan for Opportunities Scan for Opportunities (SFO) is a powerful, time-saving feature that helps you quickly identify advantageous trading conditions. It is a screening tool that helps you identify potential trading opportunities in charts or reports that are open in a portfolio. The remainder of this chapter describes the features and functions of the SFO in detail and shows how the default settings can be used to identify a potential position trade.

SFO Features and Functions Display the SFO Pane 1. Open the portfolio that you wish to evaluate. 2. Click Portfolio on the main menu and then select Scan for Opportunities on the drop down menu.

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3. Or, right click on the portfolio name in the Navigation Pane and then select Scan for Opportunities on the drop down menu.

4. The SFO window appears above the open charts or reports. The default selection of indicators, shown in the screenshot below, can be used to identify potential position trades.

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5. Double-left click on a row in the SFO to view the corresponding chart in the lower pane. For example, suppose that you want to take a closer look at the chart for the Energy Sector SPDR Fund because it had a medium term cross one day ago. Double-left click on the Energy Sector SPDR Fund row in the SFO and the chart will appear in the window below. If you open additional charts or reports, they will automatically be added to the SFO.

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Customize Indicators 1. The selection of SFO indicators can be customized to suit your needs. Click on the Field Chooser icon (to the left of Market) to access a list of approximately 60 actual and predicted values.

2. Click to put a check mark in the box to the left of the indicators that you would like to include in the SFO. Or, click to remove the check mark if you do not want to include the corresponding indicator.

3. After selecting the desired values, click the red “X” to close the Field Chooser. Or click the “pushpin” to the left of the red “X” to enable auto hide.

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4. To restore the default selection of indicators, right-click anywhere in the SFO pane and select Reset on the context menu.

Sort and Filter Results 1. Click on a column heading, for example, Medium Term Cross Days Ago, to sort by this value. If you click on the same column heading a second time, the values will be sorted in reverse order.

2. To filter the results for a particular column, click on the small, grey filter icon (between the indicator name and the push pin). Click to select the desired value in the drop down list.

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o Select Custom to access the â&#x20AC;&#x153;Enter filter criteria forâ&#x20AC;? screen. o Click the down arrow to the right of the left Operand box and then select the desired expression from the drop down list.

o Then click the down arrow to the right of the other Operand box and select the desired value from the drop down list. You can also type a numerical value or the name of any value displayed in the Field Chooser directly in this box.

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o You can use more than one criterion for filtering. Click the Add a condition button and then the steps above to select operands for the new criteria.

o After defining two or more criteria, you can refine the filter even further. Click in the circle to the left of “And conditions” if you want the SFO to display results that meet all the criteria. Click in the circle to the left of “Or conditions” if you want the SFO to display results that meet any of the criteria.

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o If you wish to delete a criterion, click in the small square to the left of the associated criterion. This will highlight the associated criterion in blue or some other color. Then click the Delete Condition button.

o Click OK to close the Enter filter criteria screen, save your changes, and apply the filter to the selected indicator. o Click Cancel to close the Enter filter criteria screen without saving your most recent changes. 3. The filter icon is blue when results in the corresponding column are filtered and grey when the results are not filtered. In the screenshot shown below, only the results in the PHigh/PLow Break column are filtered.

4. Sorting and filters are saved when you close the portfolio and choose to save the changes. - 130 -

5. Close the SFO by clicking the red X in the top right corner of the pane. Or, right-click on the SFO and select Close on the context menu. Either of these approaches will save the current selection of markets, indicators, and filters.

Import and Export Custom Scan Layouts Each of your VantagePoint portfolios can have a different scan layout. This means that the SFO associated with each portfolio can employ a different selection of indicators and filters. However, you may want to use the same SFO settings with each portfolio or share SFO settings with other VantagePoint customers. Use the Export function to save your custom layout to a file. Then, use the Import function to incorporate your custom layout into a new portfolio.

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Export a Scan Layout 1. Customize an open SFO as desired. 2. Right click in the SFO pane and select Export from the menu.

3. The next screen that appears is labeled Save As. Select the desired Save in folder and change the File name if desired.

4. Click Save to complete the export process.

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Import a Scan Layout 1. Open the portfolio and SFO that you would like to import the scan layout into. 2. Right click in the SFO pane and select Import from the menu.

3. Find the scan layout file that you exported previously. Select the file and then click Open.

4. The new settings are applied to the open SFO as soon as the import completes.

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Identify a Potential Position Trade These instructions describe how to use the default SFO indicators to identify a potential position trade in the Forex markets. You can follow a similar approach to identify advantageous trading conditions in any commodity future, financial future, ETF, or stock market. VantagePoint will search the most recent 100 price bars to discover opportunities. 1. Open a portfolio or the individual charts or reports of interest. 2. Click Portfolio on the main menu and then select Scan for Opportunities on the drop down menu.

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3. Click on “Medium Term Cross Days Ago” to sort the values in this column. Focus on the markets that had a cross one day ago.

Note: VantagePoint counts weekdays, not price bars. For example, if a market is not traded on a weekday holiday then there will be no corresponding price bar for that day. Even though there is no price bar, VantagePoint will count that weekday when it determines. Keep in mind that “Days” refers to weekdays. 4. “Medium Term Cross” shows the direction of the cross over. “Up” means that the blue line crossed above the black line, predicting an up trend. “Down” means that the blue line crossed below the black line, predicting a down trend.

5. “PTSDiff Trend” and “PTMDiff Trend” values show if the predicted difference lines are sloping “Up” or “Down”. Look for agreement between the Medium Term Cross, PTSDiff Trend, and PTMDiff Trend. Focus on markets in which all three values are in agreement (all "Up" or all "Down").

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6. Compare the Short Term Difference and Medium Term Difference values. When both of these values are greater than zero, this confirms the predicted uptrend. When both of these values are less than zero, this confirms the predicted downtrend.

7. A PIndex value of “1.00” confirms the uptrend while a PIndex value of “0.00” confirms the downtrend.

8. The PHigh/PLow Break values offer final confirmation of the predicted trend direction. A value of “High” confirms the uptrend and a value of “Low” confirms the downtrend. 9. When the values in steps 3 - 8 are in agreement, you have a potential trade!

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Here is a complete list of values that are included in the Field Chooser. SFO uses 100 price bars to determine these values. Many of these values are “crosses”, for example Short Term Cross, MACD Cross, and Triple Cross. SFO will report a value of “None” if a cross was not found within the 100 price bars. Name

Description

Actual Close % Gain/Loss

% Gain(+) or Loss(-) of the Close

Actual Volume % of Avg

Volume % of last 10 weekdays

Actual Volume Trend

Volume trending Up/Down

Actual Volume Trend Days

Number of weekdays the volume has been trending Up/Down

Category

Category name

Contract

Contract name

Long Term Cross

The cross Up/Down of the PTL over the actual long trend

Long Term Cross Days Ago

Number of weekdays since the last Long Term Cross

Long Term Difference

The difference between the actual long trend and the PTL

Long Term Trend

PTL trending Up/Down

Long Term Trend Days

Number of weekdays the PTL has been trending Up/Down

MACD Cross

The cross Up/Down of the MACD over the MACD Trigger

MACD Cross Days Ago

Number of weekdays since the last MACD Cross

MACD Spring

Acceleration or deceleration of the MACD

Market

Market name

Medium Term Cross

The cross Up/Down of the PTM over the actual medium trend

Medium Term Cross Days Ago

Number of weekdays since the last Medium Term Cross

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Name

Description

Medium Term Difference

The difference between the actual medium trend and the PTM

Medium Term Difference Spring

Acceleration or deceleration of the medium term difference

Medium Term Spring

Acceleration or deceleration of the difference between the medium term and long term trends

Medium Term Trend

PTM trending Up/Down

Medium Term Trend Days

Number of weekdays the PTM has been trending Up/Down

Neural Index

Neural Index 0 or 1

Neural Index Days

Number of weekdays the Neural Index has been 0 or 1

PHigh Difference

The PHigh Difference

PHigh/PLow Break

Values of High/Low/Both/None depend on High > PHigh and Low < PLow

PHighDiff Trend

PHighDiff is trending Up/Down

PHighDiff Trend Days

Number of weekdays the PHighDiff has been trending Up/Down

PLow Difference

The PLow Difference

PLowDiff Trend

PLowDiff is trending Up/Down

PLowDiff Trend Days

Number of weekdays the PLowDiff has been trending Up/Down

PTLDiff % Gain/Loss

% Gain(+) or Loss(-) of the PTLDiff from the actual long trend

PTLDiff Trend

PTLDiff is trending Up/Down

PTLDiff Trend Days

Number of weekdays the PTLDiff has been trending Up/Down

PTMDiff % Gain/Loss

% Gain(+) or Loss(-) of the PTMDiff from the actual medium trend

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Name

Description

PTMDiff Trend

PTMDiff is trending Up/Down

PTMDiff Trend Days

Number of weekdays the PTMDiff has been trending Up/ Down

PTSDiff %Gain/Loss

% Gain(+) or Loss(-) of the PTSDiff from the actual short trend

PTSDiff Trend

PTSDiff is trending Up/Down

PTSDiff Trend Days

Number of weekdays the PTSDiff has been trending Up/Down

RSI Trend

RSI is trending Up/Down

RSI Trend Days

Number of weekdays of the RSI has been trending Up/Down

RSI Value

The most recent RSI value

Short Term Cross

The cross Up/Down of the PTS over the actual short trend

Short Term Cross Days Ago

Number of weekdays since the last Short Term Cross

Short Term Difference

The difference between the actual short trend and the PTS

Short Term Difference Spring

Acceleration or deceleration of the short term difference.

Short Term Spring

Acceleration or deceleration of the difference between the short term and medium term trends

Short Term Trend

PTS is trending Up/Down

Short Term Trend Days

Number of weekdays the PTS has been trending Up/Down

Stochastic Cross

The cross Up/Down of the Stochastic over the Stochastic Trigger

Stochastic Cross Days Ago

Number of weekdays since the last Stochastic Cross.

Stochastic Crossed At

The value of the Stochastic at the last Stochastic Cross

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Name

Description

Stochastic Spring

Acceleration or deceleration of the Stochastic

Strength

The most recent Predicted Strength value

Strength Trend

Strength is trending Up/ Down

Strength Trend Days

Number of weekdays the Strength has been trending Up/Down

Triple Cross

Up- the P3EMA+1 (short trend) crossed above the P8EMA+2 (medium trend) and the P18EMA+3 (long). It stays “Up” until the next complete down cross. Down- the P3EMA+1 (short trend) crossed below the P8EMA+2 (medium trend) and the P18EMA+3 (long). It stays “Down” until the next complete up cross.

Triple Cross Days Ago

The number of weekdays since the most recent Triple Cross.

TSI Cross

The cross UP/Down of the TSI over the TSI Trigger.

TSI Cross Days Ago

The number of weekdays since the last TSI Cross.

TSI Crossed At

The value of the TSI at the last TSI Cross.

TSI Spring

Acceleration or deceleration of the TSI

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Chapter 9: Frequently Asked Questions Installation 1. “I canceled out of the Windows Installer 3.1 installation. Now the VantagePoint installation will not complete because the installer is not installed. How can I correct this situation?” Run the Windows Installer Update package which can be found in the Windows Installer folder on your VantagePoint CD.

Data and Configuration 1. “I am already downloading end-of-day data from a provider that is not listed as being VantagePoint compatible. Can I use this data for VantagePoint anyway?” No, for a variety of reasons, you must use data from a compatible provider. 2. “I am downloading data for over 700 markets. I won't be looking at charts or reports for all of these markets. Can I just delete the data that I don't think I will ever need?” Please do not delete any data from the default VantagePoint data portfolios. That main market that you think you may never trade may actually be used as an intermarket for something that you do trade. Also, deleting data symbols does not significantly cut down the download and distribution time or save appreciable space on your hard drive. 3. “Can I use a different data symbol for one of my markets? For example, I want to use Nikkei data from the SGX but VantagePoint uses CME data. Can I use my - 141 -

vendor's software to add a different symbol to the VantagePoint data?” No. VantagePoint is programmed to read specific data symbols, corresponding to the data that was used to train the neural nets. 4. “I understand that VantagePoint uses combined trading session data for futures whenever possible. Can you tell me more about this data?” Many futures markets have an overnight electronic session in addition to the daily pit trading session. The combined trading session data consists of the open from the overnight session and the close from the following day's pit trading session. The high and the low can occur during either of these two sessions. 5. “What are the exceptions to the combined trading session rule?” VantagePoint's use of combined trading session data for futures depends on availability and is subject to change. The Contract Properties screen shows the data vendor symbol that is used for a particular market. Your data provider can give you detailed information about specific symbols. 6. “Forex markets are traded nearly 24 hours a day. What times do my data provider use to represent each day’s open and close?” CRB: Open: 5:00 PM ET Close: 3:45 PM ET the following day 7. “What is the source of the prices given for Forex data?” There is no centralized exchange for cash foreign exchange markets. Our VantagePoint compatible data providers supply mixed source data, meaning that it comes from a variety of large banks around the world. Because there is no centralized exchange, price quotes may vary between data providers. Differences in actual data cause differences in predicted values. - 142 -

8. “Can I use VantagePoint to update my end-of-day data?” No. You use your data provider software to download end-of-day data. If you encounter any difficulties during that process, contact your data provider's technical support department for additional assistance. 9. “My data provider issued a correction to the data. I want to be sure that my VantagePoint predictions are made using the corrected data. How do I get VantagePoint to incorporate the changes?” •

Close any open portfolios.

•

Click File on main menu.

•

Click Clear Stored Predictions on the drop down menu.

•

Click OK when the "All stored predictions have been cleared" message appears.

VantagePoint will recalculate the predictions the next time a chart or report is created. 10. “One of the stocks just had a 2 for 1 split. Do I need to do anything special in VantagePoint to accommodate the change?” Your data provider will provide historically adjusted data as early as the day following the split. After you have the adjusted data, use the “Clear Stored Predictions” function which was described in the previous question. The next time you open a view for this stock, VantagePoint will use the new historically adjusted data to generate predictions. 11. “I am running out of space on my C drive. My data provider showed me how to move my data to my D drive. How do I reconfigure VantagePoint to accommodate this change?” •

Close any open portfolios.

•

Click File on main menu.

•

Click Configure Data Provider on the drop down menu. - 143 -

•

Click in the circle to the left of your data provider.

•

Type the new data directory in the box labeled “Please select the folder that contains market data”. Or click the Browse button and then locate and select the new data folder.

•

Click OK to complete the configuration. VantagePoint will now use data from the new folder.

12. “When I tried to open a portfolio, I received a message that VantagePoint was unable to load a chart for one of the markets because the provider did not have the contract. What does this mean?” This message may indicate that the ticker symbol for this stock changed or that the stock was delisted. CRB data customers may leave the delisted symbol in the VantagePoint data portfolio indefinitely. As a result, you can still open a chart for the delisted stock but the data will no longer be updated. If the exchange changed the market symbol, then this change should automatically be applied to the VantagePoint data as the result of an end-of-day download. After the new symbol is added to the data, our Customer Support department can help you quickly modify VantagePoint to read the new symbol. 13.

“What is a Continuous contract?”

A continuous contract is created by your data provider. At the most basic level, it consists of data from individual futures contracts that are “spliced together” to form an unbroken stream of data. This data may or may not be back-adjusted to smooth out the price gaps that occur between trading sessions. Traders who require a great deal of historical data for analysis may find it convenient to use continuous contracts.

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14.

“What is a Cash contract?”

This data represents the cash or spot price and does not represent future prices. It is the price you would pay if you purchased the commodity or financial instrument right now.

Reports and Charts 1. “The open, high, low, and close bars just look like a dash on my chart. Why does this happen?” This happens when the values for open, high, low, and close are the same. Data from very early in a trading contract may have the same value for open, high, low, and close each day because of very low trading volume. You may also notice this when viewing cash data for certain commodities markets. Because cash trading is not conducted on exchanges, it can be difficult to obtain daily open, high, low, and close prices. In this case, the close price is used to represent all of the actual values for a particular day. 2. “Why are the actual values shown on my VantagePoint reports different from the actual values shown on the Internet?” VantagePoint reads and then displays the actual values provided by your data provider. VantagePoint markets use actual data from combined trading sessions whenever this data is available and supported by all compatible data providers. The values reported on the Internet are usually from day sessions only. Also, be certain that you are comparing actual values from the same contract month. If you have additional questions you may contact your data provider or our Customer Support department. 3. “I am downloading data updates from my provider but my VantagePoint reports are not being updated.” Check the contract that you are viewing. Expired contracts are not updated.

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4. “I am trying to open a chart but when I right click on a market or a contract, Open is disabled on the drop down menu. How can I correct this?” VantagePoint disables this command when there is no open portfolio or when the registration period has ended and the selected market is in an unregistered category. 5. “Sometimes when I close a portfolio, VantagePoint asks me to save changes when I have not made any changes. Why does this happen?” Nearly anything that you do to customize a chart or report is considered a change to the portfolio. Adding a chart or report to a portfolio is an obvious change. However, change also includes anything that modifies the appearance of a chart or report or its position on the screen such as setting up a new tab group, changing the displayed indicators, changing colors and fonts, zooming, and changing the date range. 6. “VantagePoint is currently opening a large number of charts and reports. I want to cancel this operation. I tried to close VantagePoint but received a message to wait for current processing to finish before exiting the application. Is there a workaround that will allow me to cancel out of the loading process?” Click Window on the main menu. Select Close All Tabs. This cancels out of the loading process, closes any open views but keeps the portfolio open. When you close the portfolio, VantagePoint asks if you want to save the changes. If you save the changes, your existing portfolio will be replaced by one that is "empty". Keep in mind that what you see is what you save! 7. “When I opened a chart, I received a VantagePoint warning message which stated that the current data has different prices for a certain date. What does this mean?” VantagePoint compares the most recent end-of-day data with previous data. If it finds a change in the actual data, it generates the warning message. This alerts you to any data corrections that may - 146 -

have been issued by your data provider. Changes in actual data can lead to changes in predicted values. 8.

“How are your accuracy statistics computed?”

The Predicted Neural Index is used to determine accuracy and it predicts whether a three-day moving average of the typical price will be higher or lower two trading days in the future. The typical price is the average of the high, low, and close price for the day. A Neural Index of one forecasts an up trend while a value of zero forecasts a down trend. The accuracy of the Neural Index was tested using out-of-sample data. Out-of-sample means that the data was not used in the neural net training process. Since the Neural Index prediction is either correct or incorrect each day, its performance is measured in terms of percent correct. For example, if the Neural Index prediction is correct 85 days out of 100, then the percent accuracy is 85% on the last day of test data. 9. “I received a message that VantagePoint was unable to process additional charts or reports because it was out of memory or handles. Why does this happen and how can I correct it?” VantagePoint uses memory and handles each time a chart or report is created. If you have limited system resources, VantagePoint may run out of memory or handles before all requested charts or reports are opened. It is possible to get more than one of these messages. To correct this condition, clear the messages and then close some of the open charts and reports. This releases memory and/or handles and allows VantagePoint to open additional views. You can also close and then reopen VantagePoint. You may also consider closing other applications to make more resources available to VantagePoint. 10. “I am running VantagePoint on a computer that has 256 MB RAM. Will upgrading to 1 GB RAM make a noticeable difference in performance?” Our Quality Assurance team used Celeron 2.40 GHz computers running Windows XP Professional to determine if memory is - 147 -

correlated with performance. One computer had the minimum 256 MB RAM while the other had the recommended 1 GB RAM. Results: 256 MB RAM: It was possible to open 17 – 31 charts, 16 – 24 daily reports, or 18-28 history reports before running out of memory. 1 GB RAM: The system did not run out of memory. VantagePoint opened 200 charts, 142 daily reports, or 188 – 189 history reports before the system ran out of handles. The number of Windows handles is determined by the operating system and is not related to the amount of memory. Results of the memory test may vary. For example, the amount of data in a file will influence how much memory is required to open a view. Opening a chart or report for a quarterly futures contract with a relatively limited history will require less memory than opening a chart or report for a continuous contract with history that begins on 1/3/2000. Also, available memory will be limited when other programs are running at the same time as VantagePoint, reducing the number of views which can be opened. 11. “My chart is missing several consecutive days of predictions. I checked the data for this market using my data provider software and it appears that there is data for these days. What is happening?” Most likely some of the intermarkets are missing data. At least 17 intermarkets must have updated data or VantagePoint will not generate predictions. To determine if this accounts for your situation, access the Contract Properties screen for the main market. On the calendar, select the day which is missing predictions. If “Insufficient intermarket data to display predictions” is displayed near the bottom right of the screen, this indicates that the minimum number of intermarkets do not have data. 12.

“What is the typical price?”

Typical price is the average of the day’s high, low, and close.

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13. “Some of my markets have a ^ symbol in the data. What does this indicate?” The ^ symbol is used to display non-decimal values. Wheat, Corn, Oats, and Soybeans- The prices are displayed as Cents^ quarter cents per bushel. Using Wheat prices as an example: 334^0 = 334.00 cents / bushel 334^2 = 334.25 cents / bushel 334^4 = 334.50 cents / bushel 334^6 = 334.75 cents / bushel 10 Year U.S. Treasury Notes and 30 Year U.S. Treasury Bonds- The prices are reported in one-half of 1/32 of a point. For example, 109^09.5 equals 109 and 9.5 32nds. 2 Year U.S. Treasury Notes and 5 Year U.S. Treasury Notes- The prices are reported in one-quarter of 1/32 of a point. For example, 118^16.5 equals 118 and 16.5 32nds. “When I export data that uses the ^ symbol to Excel, the number is different. What causes this?” This data is displayed in decimal format in Excel. Keep in mind that values that use the ^ symbol are not decimal.

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“I am back testing a trading strategy and tried to open a chart for the DJIA 2000-03 contract. I received a message that VantagePoint could not load this contract because there was no data available. However, I checked the Contract Properties screen and it shows that there is data from 3/25/1999 to 3/16/2000. This is nearly a year of data. Why can’t I see a chart for this contract? ” At least 45 days of data are required for the main market AND its intermarkets. In this example, the DJIA 2000-03 contract has enough data but the intermarkets do not. To verify this, access the DJIA Market Properties screen and click on the Intermarkets tab. At least 17 intermarkets must have the 45 days of data or VantagePoint will not create a chart. However, if you compare the Data Begin dates, you will see that only 14 markets meet this requirement. As a result, VantagePoint will not open a chart for the DJIA 2000-03 contract. 14.

“Why is n/a displayed on my report?”

This means that there was not enough data for VantagePoint to generate predictions for that particular day.

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15. “Why is my history report data exported in text format?” Occasionally, VantagePoint will not generate a prediction because of data limitations. When this occurs, n/a is displayed instead of a number. The inclusion of this text on the history report means that all the data must be exported as text. You can use Excel to convert the numbers to text. Or export the data to XML. In XML, the text “n/a” is removed and replaced with a “blank”.

Activation and Licensing 1. “My registration period expired and I can’t access any categories. Will I lose my data or have to configure VantagePoint again?” No, you will not lose data or have to re-configure. Licensing is like flipping a switch. After you complete the licensing procedure, categories will again be available for viewing so you can pick up exactly where you left off. 2. “I registered my software but I still have all the categories shown in the Markets Tree. When can I see only the categories that I registered?” All of the categories will always be displayed in the Markets Tree. The unregistered categories will have a lock icon shown by the market name. The lock icon is not displayed by the name of registered categories. 3.

“How can I make category exchanges?”

Contact our Customer Support department at 813-973-3875 or Support@tradertech.com for assistance. 4.

"How many exchanges can I make?"

All customers are allowed ONE free exchange. This means that in ONE phone call you may switch as many categories as desired, free of charge. EACH additional exchange costs $500. Again, you may switch as many categories as desired. - 151 -

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Chapter 10: VantagePoint License Agreement This is a legal agreement (the “Agreement”) between you (either an individual or an entity) (“Licensee”) and Market Technologies, LLC, a Florida limited liability company (“Market Technologies”). Carefully read this Agreement before installing the VantagePoint Intermarket Analysis Software (the “Software”) on your computer. There is also a hard-copy of this Agreement in the back of the VantagePoint User’s Guide. By clicking the “I Understand and Agree to the Terms” button when presented on the screen with the VantagePoint License Agreement, Licensee indicates its understanding and acceptance of the terms of this Agreement, is intending to create an electronic signature affirming its full understanding and agreement to be legally bound by all of the terms and conditions of this Agreement, agrees to execute this Agreement electronically and agrees that this Agreement is enforceable like any written negotiated agreement signed by Licensee, and is entering into a binding legal contract. This Agreement governs and relates to your license (“License”) and use of certain parts of the Software, including all component market categories (collectively referred to as the “VantagePoint Package”), the VantagePoint Intermarket Analysis Software User’s Guide, and related materials (such parts collectively referred to in this Agreement as the “Licensed Package”). VantagePoint utilizes security procedures to prevent software privacy and protect Licensee’s investment, which require Licensee to activate (“Activate”) the Software after installation by performing an initial activation (“Initial Activation”), registration (“Registration”) within twenty-one (21) days (“Registration Period”) following Initial Activation, and subsequent periodic reactivation (“Reactivation”) over the Internet on Licensee’s single computer. The components of Licensed Package are listed on Exhibit A to this - 153 V8 -081809 80108

Agreement. This Agreement will remain in effect until it is terminated in accordance with Section 18 below. Licensee acknowledges that competing products and services are readily available and that Licensee is free to return the Licensed Package within the timeframe and under the restrictions provided in this Agreement. Therefore, Licensee waives any right to assert that this Agreement is an unconscionable, improper or illegal contract of adhesion. 1. Non-exclusive License. Subject to the terms and conditions of this Agreement, in exchange for the fees paid to Market Technologies by Licensee, Market Technologies hereby grants to Licensee a non-exclusive, non-assignable and nontransferable limited license to use Licensed Package according to the terms and restrictions set forth in this Agreement and subject to the payment by Licensee to Market Technologies of the necessary fees as specified by Market Technologies. 2.

Use of Product. a.

Licensed Package contains all component market categories of the Software. The specific component market categories for which Licensee has paid the appropriate fees for use is herein referred to as “Licensee’s Portfolio”. As a courtesy to Licensee, all component market categories (including those component market categories included in Licensee’s Portfolio as well as those not included in Licensee’s Portfolio) will function during the twenty one (21) day Registration Period following the date of Initial Activation of the Software by Licensee on Licensee’s computer. Licensee understands that this Agreement applies to all component market categories (both those included in Licensee’s Portfolio and those not included in Licensee’s Portfolio) and that Licensee must contact Market Technologies within the twentyone (21) day Registration Period to complete Registration of Licensee’s Portfolio component market categories enabling the Licensee’s Portfolio to function - 154 V8 -081809 80108

in the Software past such twenty-one (21) day Registration Period. If Licensee does not complete Registration of Licensee’s Portfolio within such twenty-one (21) day Registration Period, all component market categories (including the component market categories comprising Licensee’s Portfolio) in the Software will become disabled and will not function. However, Licensee’s Portfolio component market categories can be enabled by Licensee at any time by contacting Market Technologies to complete Registration of the Licensee’s Portfolio at the prevailing fee set by Market Technologies. b.

If Licensee thereafter desires to add new component market categories to Licensee’s Portfolio, upon payment of prescribed fees to Market Technologies as Market Technologies may specify, Licensee shall be entitled to a new Registration from Market Technologies similarly enabling the new component market categories to be included in Licensee’s Portfolio.

3. Restrictions on Use. Licensee shall not copy, reprint, reproduce, duplicate or modify any part of Licensed Package (electronically or otherwise) or assist any other party in doing so either during or after the term of this Agreement. Licensee agrees, during the term of this Agreement, not to create or attempt to create, by reverse engineering, reverse assembling, reverse compiling, decompiling or otherwise, source programs or materials that simulate or perform similar functions to those in Licensed Package or information made available to Licensee under this Agreement. Licensee further agrees not to create derivative works based upon Licensed Package, or any part or component market category thereof, or allow or authorize others to do so. Licensee shall not rent, lease, or lend Licensed Package, provide commercial hosting services with Licensed Package or use Licensed Package in any form or by any means to provide trading advice or information to any third party for a fee, or post or distribute information based - 155 V8 -081809 80108

upon or derived from the output of the Licensed Package in any public or private forum including, but not limited to, print, the Internet, online chat, instant message, online forums, any form of newsletter (whether electronic or otherwise), radio or television, for any purpose, including any commercial venture or purpose in which the Licensee seeks to receive a fee for service. Licensee represents and warrants that Licensee will not participate in any commercial or business venture whatsoever, wherein the use of and reliance on Licensed Package is in any way a part of said commercial business venture. Notwithstanding all of the above, Licensee may make one copy of any software programs contained in Licensed Package for purposes of backup only and may only transfer such copy to one of Licenseeâ&#x20AC;&#x2122;s hard disks. Any such copy made must include the appropriate copyright notice as contained on the copy in Licensed Package originally provided to Licensee. 4. Restrictions on Disclosure. Licensee shall not, at any time, lease, license, transfer, publish, disseminate, or disclose Licensed Package or any part or component market category thereof or any output derived from the use of Licensed Package, in whole or in part, in any form or by any means (including, but not limited to, any form of newsletter whether electronic or printed, public trading forum or website) to any third party for financial gain, except to execute trades in Licenseeâ&#x20AC;&#x2122;s own brokerage account. Licensee shall not use Licensed Package or any part or component market thereof on more than one computer at any time whether on a network or otherwise. If Licensee intends to use Licensed Package in the furtherance of Licenseeâ&#x20AC;&#x2122;s business enterprise or for any commercial business venture, Licensee shall not use Licensed Package without first agreeing to the Commercial Business Addendum to this Agreement and payment of the fee prescribed by Market Technologies for such use. 5. Liability for Unauthorized Use or Disclosure. Licensee acknowledges that any unauthorized use or disclosure of Licensed Package will diminish the value of Market Technologies and its products and will cause irreparable and continuing damage to Market Technologies for which an adequate legal remedy will not exist. Accordingly, Licensee stipulates that, if it breaches any of its - 156 V8 -081809 80108

covenants in this Agreement, Market Technologies will be entitled to an entry of a court order granting specific performance or injunctive relief, without requirement of a bond or proof of monetary damage or an inadequate remedy at law, in addition to all other remedies available at law or equity. 6. Title. Licensee acknowledges that all title to and ownership rights in Licensed Package and any part or component market category thereof, including, without limitation, all derivative works, customizations, enhancements, modifications, improvements, derivations or other changes thereto (herein collectively referred to as the “Licensed Package & All Derivations”), all Updates (as defined below), and all underlying patent, copyright, trade secret, trademark and other intellectual property rights, are owned and/or exclusively licensed by Market Technologies. Licensee shall not acquire any rights in Licensed Package & All Derivations of such Licensed Package, or any part or component market category thereof, or in any Update by virtue of this Agreement. Market Technologies shall retain all title to and rights in physical materials included in Licensed Package and licensed under this Agreement. 7. Disclaimer of Warranties. MARKET TECHNOLOGIES’ SOLE AND EXCLUSIVE WARRANTY IS THAT THE CD-ROM DISK FURNISHED TO LICENSEE IS FREE FROM DEFECTS IN MATERIALS AND WORKMANSHIP UNDER NORMAL USE FOR A PERIOD OF NINETY (90) DAYS FROM THE DATE OF INITIAL RECEIPT BY LICENSEE. If, under normal use, the CD-ROM disk(s) has such a defect within the first ninety (90) days from the date of initial receipt, Licensee is entitled to replacement of the defective disk(s) in accordance with Section 8 of this Agreement. LICENSEE ACKNOWLEDGES THAT MARKET TECHNOLOGIES HAS NOT REPRESENTED OR WARRANTED THAT THE USE OF, OR ACCESS TO, THE LICENSED PACKAGE WILL BE UNINTERUPTED, ERROR FREE OR WITHOUT INACCURACIES OR DELAY DUE TO ANY NUMBER OF FACTORS INCLUDING WITHOUT LIMITATION NATURAL CATASTROPHIES; GOVERNMENTAL ACTS; POWER FAILURE, BREAKDOWNS OR FAILURE OF COMMUNICATIONS SYSTEMS OR THE INTERNET; PERIODIC SYSTEM MAINTENANCE, SCHEDULED - 157 V8 -081809 80108

OR UNSCHEDULED; TECHNICAL FAILURE OF THE LICENSED PACKAGE, TELECOMMUNICATIONS INFRASTRUCTURE, OR DELAY OR DISRUPTION ATTRIBUTABLE TO VIRUSES, DENIAL OF SERVICE ATTACKS, INCREASED OR FLUCTUATING DEMAND, AND ACTIONS OR OMISSIONS OF THIRD PARTIES. LICENSEE ACKNOWLEDGES THAT MARKET TECHNOLOGIES MAKES NO REPRESENTATIONS CONCERNING THE SUITABILITY OF LICENSED PACKAGE FOR USE BY LICENSEE, AND THAT LICENSEE SHOULD DETERMINE FOR HIMSELF OR ITSELF WHETHER, AND TO WHAT EXTENT, THE USE OF LICENSED PACKAGE IS SUITABLE FOR LICENSEE. LICENSEE FURTHER ACKNOWLEDGES AND UNDERSTANDS THAT MARKET TECHNOLOGIES MAKES NO CLAIMS, GUARANTEES, PROMISES OR WARRANTIES TO LICENSEE, EITHER EXPRESS OR IMPLIED, OF ANY NATURE WITH RESPECT TO LICENSED PACKAGE, OR ANY PART THEREOF; OR TO THE USE THEREOF OR AS TO THE RESULTS OR OUTPUT OF THE USE OF LICENSED PACKAGE; OR AS TO ANY CONDITION, QUALITY, PERFORMANCE, CORRECTNESS, ACCURACY, PROFITABILITY, PREDICTIVENESS, TIMELINESS, OPERATION, OR RELIABILITY THEREOF; OR TO THE INTERACTION (OR FAILURE TO INTERACT PROPERLY) WITH ANY OTHER HARDWARE OR SOFTWARE WHETHER PROVIDED BY MARKET TECHNOLOGIES OR A THIRD PARTY; OR AS TO THE MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OF LICENSED PACKAGE WITH RESPECT TO ANY PROPOSED USE BY LICENSEE. MARKET TECHNOLOGIES DOES NOT REPRESENT OR WARRANT THAT THE MARKETS COMPRISING THE COMPONENT MARKET CATEGORIES WILL BEHAVE AS INDICATED BY THE OUTPUT DERIVED FROM THE USE BY LICENSEE OF LICENSED PACKAGE. MARKET TECHNOLOGIES MAKES NO CLAIMS, GUARANTEES, PROMISES OR WARRANTIES TO LICENSEE WITH RESPECT TO ANY PROFITS FROM TRADING ON THE BASIS OF, OR IN RELIANCE ON, LICENSED PACKAGE OR THE USE THEREOF. Licensee acknowledges that Market Technologies is not a market data provider, that Licensee will need to obtain and download daily - 158 -

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end-of-day data compatible to the Software from an independent, third-party data provider at Licensee’s expense, and that Market Technologies and the Software do not have mechanisms for and do not endeavor to detect errors, omissions, data non-delivery, data mis-delivery or other problems with the data provided by Licensee’s data provider, and that it is the data provider’s, not Market Technologies’, duty to notify Licensee of any such errors, omissions, or other problems with the data provided. Accordingly, Market Technologies shall not be responsible for any errors, omissions or other problems in the data used by Licensee in conjunction with Licensed Package or any disruptions in the provision or transmission of such data by the Licensee’s data provider to the Licensee’s computer, which could cause the Licensed Package to generate incorrect, incomplete, or intermittent information that, if relied upon by Licensee, could result in misinformed trading decisions and potentially substantial losses. 8. Damages. MARKET TECHNOLOGIES' ENTIRE AND MAXIMUM LIABILITY SHALL BE FOR REPLACEMENT OF ANY DEFECTIVE DISK. NEITHER MARKET TECHNOLOGIES NOR ITS EMPLOYEES, OFFICERS, MANAGERS, MEMBERS, OR DIRECTORS SHALL BE LIABLE FOR ANY DAMAGES OR CLAIMS ARISING OUT OF, RELATED TO, OR IN CONNECTION WITH THE USE OR PERFORMANCE OF LICENSED PACKAGE, INCLUDING, BUT NOT LIMITED TO, SPECIAL, DIRECT, INCIDENTAL, LOST PROFITS, DIMINUTION IN VALUE, PROPERTY DAMAGE, CONSEQUENTIAL OR OTHER DAMAGES FOR ANY TYPE OF DAMAGE, INJURY OR LOSS, INVASION OR LOSS OF PRIVACY, OR FOR BREACH OF ANY DUTY (INCLUDING BUT NOT LIMITED TO ANY DUTY OF GOOD FAITH, NEGLIGENCE OR OF WORKMANLIKE EFFORT), HOWEVER CAUSED, OR UNDER ANY THEORY OF LIABILITY, WHETHER BASED IN CONTRACT, TORT (INCLUDING NEGLIGENCE), STRICT LIABILITY, PATENT INFRINGEMENT, TRADEMARK INFRINGEMENT, COPYRIGHT INFRINGEMENT, OR OTHERWISE AND REGARDLESS OF WHETHER EITHER PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGE. THIS EXCLUSION SHALL APPLY DESPITE ANY - 159 -

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DEFECT, ERROR, INCOMPLETENESS, OMISSIONS OR INACCURACIES IN THE SOFTWARE, DOCUMENTATION OR OTHER MATERIALS CONTAINED IN LICENSED PACKAGE OR IN ANY PRODUCT OR SERVICE FURNISHED TO LICENSEE BY MARKET TECHNOLOGIES IN CONNECTION THEREWITH, AND THIS EXCLUSION SHALL LIKEWISE APPLY EVEN IF MARKET TECHNOLOGIES HAS BEEN ADVISED OF THE EXISTENCE OR A POSSIBILITY OF ANY DEFECT, ERROR, INCOMPLETENESS, OMISSIONS, INACCURACIES OR SUCH DAMAGES OR CLAIM. LICENSEE ACKNOWLEDGES THAT LICENSEE BEARS ALL RISK FROM ANY USE BY LICENSEE OF THE LICENSED PACKAGE AND THAT MARKET TECHNOLOGIES IS NOT RESPONSIBLE FOR ANY DAMAGES OR LOSSES SUSTAINED BY LICENSEE, INCLUDING BUT NOT LIMITED TO ANY DAMAGES TO LICENSEE’S COMPUTER, SOFTWARE, MODEM, TELEPHONE, DATA FILES OR OTHER PROPERTY RESULTING FROM LICENSEE’S USE OF LICENSED PACKAGE. 9. Updates. Market Technologies agrees, but is not obligated, to advise Licensee of any modifications, neural network retrainings, enhancements and updates to Licensed Package including the availability of new component market categories (herein referred to collectively as “Updates”) as they are released by Market Technologies provided that Licensee has kept Market Technologies current with updated contact information including email address, mailing address, and daytime telephone number. Licensee agrees to put Market Technologies’ email address into his Microsoft Outlook to avoid having spam filters block emails sent by Market Technologies to Licensee. Upon payment of prescribed fees to Market Technologies, as Market Technologies may specify from time to time for such Updates, Licensee will be entitled to receive and use such Updates in accordance with this Agreement. If Licensee chooses not to pay for such Updates as they become available, Licensee will still be entitled to continue to use previous versions of Licensed Package that Licensee had paid for. However, it is understood that such previous versions will no longer undergo any further modifications, neural network retrainings, improvements or enhancements by Market Technologies. Upon - 160 -

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receipt of any Updates, if requested by Market Technologies to do so, Licensee agrees immediately to return to Market Technologies all previous versions of Licensed Package then in his or its possession. 10.

Mandatory On-Line Activation. a) Licensee acknowledges that Licensee, at Licensee’s sole expense, is responsible for and must provide all computer hardware, Internet connection, telephone and other equipment, and operating system software necessary to comply with the requirements needed for Initial Activation, Registration, and Reactivation of the Licensed Package in accordance with the procedures detailed in the VantagePoint Intermarket Analysis Software User’s Guide and that such Initial Activation, Registration, and Reactivation are based on the exchange of information between Licensee’s computer and Market Technologies through an Internet connection. Licensee acknowledges that there are technological measures in the Software that are designed to prevent unlicensed or illegal use of the Software, and that Market Technologies may use such measures, which may include installing them on Licensee’s computer to verify Licensee’s compliance with the terms of this Agreement. Licensee agrees to adhere to any requirements regarding such measures. b) Licensee agrees that it will not take any action that imposes an unreasonable or disproportionately large load on Market Technologies’ on-line activation infrastructure. If it is determined that Licensee took action with the malicious intent of disrupting, destroying, or overloading Market Technologies’ on-line activation infrastructure, Licensee will be liable to Market Technologies for any and all available legal and equitable remedies. Such remedies would include but not be limited to reimbursing Market Technologies for all costs associated with returning the infrastructure to its normal operating level and reimbursing Market - 161 -

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Technologies for any lost profits resulting from the disruption, destruction, or overload of its infrastructure. 11. Customer Support. Market Technologies agrees to provide Licensee with reasonable telephone customer support (herein referred to as "Initial Support") for a period of twelve (12) months from the date of initial receipt of Licensed Package by Licensee. A non-cancelable, non-transferable, annual prepaid customer support plan (“Paid Customer Support Plan”) is available upon the expiration of the Initial Support period during the product lifecycle of Licensed Package. Neither Market Technologies, nor its affiliates, in the performance of providing Initial or Paid Customer Support Plan services, provides or offers trading advice, strategies or systems of any kind. The sole purpose of support services is to assist Licensee in the use of the Licensed Package. 12. Exchanges. Licensee is entitled to a one-time exchange of one or more Licensee’s Portfolio’s categories at no charge, with additional exchanges at the then-prevailing prescribed fee set by Market Technologies. 13. Speculative Nature. Licensee acknowledges and understands the speculative nature of the commodities futures and financial markets and recognizes the high degree of risk involved in participating in such markets, with or without the use of Licensed Package. Licensee acknowledges and understands that Licensed Package provides information regarding possible future market movements based upon historical analysis of past market movements, that Licensed Package does not provide specific trade recommendations including buy and sell signals, that the markets comprising the component market categories may not behave as indicated by the output derived from the use by Licensee of Licensed Package and that Licensee bears the sole risk for all orders for trades placed by Licensee as a result of considering such output. Licensee also acknowledges that the Software and documentation furnished by Market Technologies in Licensed Package are an analytic tool only and are not intended to replace Licensee’s individual research or receipt of professional investment advice, and that neither the Licensed Package nor the Initial or Paid Customer Support related to the Licensee’s use of the Licensed - 162 V8 -081809 80108

Package constitute the provision of trading advice or an endorsement or recommendation by Market Technologies of any trading methods, programs, systems, or routines, based on, or tailored to, any positions or other circumstances or characteristics of Licensee or anyone else, or otherwise. Licensee further acknowledges that individual performance in the financial markets depends upon individual skills and experience at performing technical analysis, knowledge of and familiarity with the markets, effectiveness of individual decision making and decisiveness, and time availability to devote to analyzing and trading the markets. IT IS EXPRESSLY UNDERSTOOD THAT NEITHER THIS LICENSE AGREEMENT, NOR ANY STATEMENT, REPRESENTATION, OR ASSERTION WITHIN THIS LICENSE AGREEMENT OR ANY PROMOTIONAL MATERIALS LICENSEE HAS REVIEWED OR ANY OTHER ORAL OR WRITTEN STATEMENT OR REPRESENTATION MADE BY MARKET TECHNOLOGIES OR ITS AGENTS OR REPRESENTATIVES MAKES OR CONSTITUTES ANY GUARANTEE OF, OR REPRESENTATION RELATING TO, PERFORMANCE OF LICENSED PACKAGE INCLUDING THAT OF ITS PREDICTIVE ACCURACY AT FORECASTING MARKET PRICES OR TRENDS AND THAT MARKET TECHNOLOGIES ALSO MAKES NO GUARANATEE OF PERFORMANCE EITHER IN THIS AGREEMENT OR OTHERWISE. IT IS ALSO UNDERSTOOD THAT THE SOFTWARE IS AN ANALYTIC TOOL AND NOT A TRADING SYSTEM AND THAT MARKET TECHNOLOGIES MAKES NO REPRESENTATIONS OR GUARANTEES THAT LICENSEE WILL MAKE PROFITS AND/OR NOT SUFFER ANY LOSSES FROM TRADING BASED ON, OR IN RELIANCE ON, LICENSED PACKAGE OR THE USE THEREOF. LICENSEE ASSUMES FULL RESPONSIBILITY TO MAKE HIS OR ITS OWN TRADING DECISIONS INVOLVING ENTRIES, EXITS, AND STOP PLACEMENTS, BASED UPON HIS OR ITS OWN ASSESSMENT OF HIS OR ITS TRADING STYLE, OBJECTIVES, RISK PROPENSITY, RISK CAPITAL, EXPERTISE AND EXPERIENCE AS A TRADER ALL OF WHICH CAN INFLUENCE LICENSEE’S TRADING RESULTS SUCH THAT HIS OR ITS PERFORMANCE RESULTS MAY BE BETTER OR WORSE THAN - 163 -

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THAT OF OTHER TRADERS INCLUDING THOSE WHO MAY ALSO BE USING LICENSED PACKAGE AT THE SAME TIME. UNDER NO CIRCUMSTANCES IS MARKET TECHNOLOGIES RESPONSIBLE FOR LICENSEE’S TRADING RESULTS OR PERFORMANCE BASED UPON THE TRADING DECISIONS THAT LICENSEE MAKES. FURTHERMORE, IT IS UNDERSTOOD THAT HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. LICENSEE AGREES THAT NO REPRESENTATION IS BEING MADE OR HAS BEEN MADE THAT ANY ACCOUNT OR TRADE WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN IN LICENSED PACKAGE OR IN ANY OF MARKET TECHNOLOGIES’ PROMOTIONAL MATERIALS. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS, IN GENERAL, OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM, WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS, AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. MARKET TECHNOLOGIES HAS HAD LITTLE OR NO EXPERIENCE IN TRADING ACTUAL ACCOUNTS FOR ITSELF OR FOR CUSTOMERS. SINCE THERE ARE NO ACTUAL - 164 -

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TRADING RESULTS TO COMPARE TO THE HYPOTHETICAL PERFORMANCE RESULTS, LICENSEE SHOULD BE PARTICULARLY WARY OF PLACING UNDUE RELIANCE ON THESE HYPOTHETICAL PERFORMANCE RESULTS. 14. Hold Harmless; Indemnification; Release; Covenant Not to Sue. Licensee acknowledges it is fully aware of the hazards and risks, including financial risks, associated with trading in commodity and financial futures, Forex, ETF and equities and the use of Licensed Package. In part consideration of the License granted herein, Licensee agrees to release, indemnify and hold harmless Market Technologies, its successors, affiliates and assigns, and each of their respective officers, members, managers, directors, employees, contractors, insurers and agents (collectively, the “Releasees”), and waives with respect to each Releasee, and covenants not to sue any Releasee for, any and all liabilities, claims, demands, actions, causes of action, damages, losses and expenses (including, but not limited to, attorneys’ fees and costs) of any nature whatsoever (collectively, the “Liabilities”) arising out of or in connection with Licensee’s use of Licensed Package or trading decisions and payment of any fees associated with the License, Updates or Paid Customer Support. Such hold harmless, release, discharge, waiver and covenant not to sue shall include but not be limited to any Liabilities caused, in whole or in part, by the negligence (of any type) of any Releasee in connection with Licensed Package or the promotion or marketing thereof. However, such Liabilities shall not include Market Technologies’ obligation, under Section 8 above, to replace a defective CD-ROM Disk. 15. Intended Use. It is agreed by the parties that commodity and financial futures, Forex, ETF and equities traders in the furtherance of their investment pursuits are the intended users of Licensed Package. Licensed Package is not designed for educational use or uses outside the commodity and financial futures, Forex, ETF and equities fields. Licensee hereby represents to Market Technologies that Licensee is aware of the risks associated with the commodity and financial futures, Forex, ETF and equities fields and any program of trading therein. - 165 -

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16. Export Restrictions. Licensee acknowledges that Licensed Package is subject to U.S. export jurisdiction. Licensee agrees to comply with all applicable international and national laws that apply to Licensed Package, including the U.S. Export Administration Regulations, as well as end-user, end-use, and destination restrictions issued by U.S. and other governments and shall pay all tariffs, duties and fees where applicable. 17. Governing Law, Jurisdiction, and Venue. This Agreement shall be governed, interpreted and construed in accordance with the decisional laws of the State of Florida. This choice of law provision is intended to operate to the exclusion of (a) any choice of law or other law or provision that would result in this Agreement or any disputes arising out of or related to this Agreement being resolved by the decisional laws of any other state or country and (b) any law or convention that would otherwise apply including, but not limited to, the United Nations Convention on Contracts for the International Sale of Goods. If awarded, the total of all damages due to Licensee shall be in accordance with Section 8 above. The parties hereby both knowingly, voluntarily, intentionally and irrevocably agree to waive any right to have any issue resolved by a jury and cede to the Court all matters of law and fact for resolution. Licensee and Market Technologies each agree that the exclusive venue for bringing and maintaining any action arising out of, related to, or in connection with this Agreement shall be in Hillsborough County, Florida or federal court for the Middle District of Florida, Tampa Division. Licensee and Market Technologies agree that, if Licensee brings any action or proceeding against Market Technologies in any other venue in violation of this forum selection clause and Market Technologies is the prevailing party on a motion to dismiss for improper venue or motion to transfer venue, Market Technologies will be immediately entitled to recover its costs and attorneyâ&#x20AC;&#x2122;s fees associated with such motion. Licensee hereby irrevocably consents to personal jurisdiction in the State of Florida and hereby waives any claim or defense that such venue is not convenient or proper, and consents to service of process by any means authorized by Florida law. - 166 V8 -081809 80108

18. Term. This Agreement shall remain in effect terminated by one or more of the following occurrences:

until

Breach by Licensee of any term or condition of this Agreement; provided that, except as set forth below, Market Technologies shall give Licensee written notice of such termination at the last known address of Licensee. If Licensee fails to cure such breach within ten (10) days after such notice, Licensee shall immediately cease all use of Licensed Package and immediately return Licensed Package and all versions, parts and component market categories thereof and all Updates in its possession, including any materials and documentation related thereto to Market Technologies without prejudice to any other rights Market Technologies may have.

Without notice, upon breach by Licensee of any of the conditions set forth in Sections 3 or 4 above.

Upon termination due to any occurrence enumerated in Subsections 18(a) or 18(b) above, Licensee shall immediately return to Market Technologies all parts and component market categories of Licensed Package & All Derivations and all Updates in its possession, including all copies, documentation, and materials, without refund or credit and without prejudice to any other rights Market Technologies may have. 19. Refund. Licensed Package may be returned at Licensee’s expense for a partial refund (excluding a $495.00 refund processing fee) provided that Licensee meets each of the following conditions: (a) Licensee contacts Market Technologies within fifteen (15) calendar days from the date of initial receipt by Licensee and requests deactivation of the Software; (b) Licensed Package is fully returned (as specified herein) and postmarked by Licensee within fifteen (15) calendar days from the date of initial receipt by Licensee (“Returned Period”); (c) the Licensee must execute and return a License Termination and Release Agreement (“the Termination - 167 -

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Agreement”); and (d) Market Technologies must receive the Termination Agreement executed by Licensee, postmarked within ten (10) days from the date that Market Technologies sent the Termination Agreement to Licensee. Market Technologies will only issue the refund amount after all four of the foregoing conditions have been met. If all four of the foregoing conditions have not been met, Licensee shall not be entitled to any refund, notwithstanding Licensee’s completion of one or more of the foregoing conditions. Upon request by Licensee, at any time either prior to or after Licensee has accepted the Agreement, a copy of the Termination Agreement will be emailed to the Licensee by Market Technologies. A return must include all versions, parts and component market categories of Licensed Package & All Derivations and all Updates then within the care, custody or control of Licensee, including the documentation, User’s Guide, and related materials, including any promotional offers that were made available to Licensee. Subsequent licensing of additional Updates, components, or addons of any kind by Licensee does not extend the Returned Period for any previous product or version licensed by Licensee. Subsequent licensing of additional Updates, components, or addons of any kind by Licensee does not extend the fifteen (15) calendar day window for return eligibility for any previous product or version licensed by Licensee. It is incumbent on Licensee to call Market Technologies at (813) 973-3875, Monday through Friday, 9:00 AM to 5:00 PM Eastern Standard Time to deactivate the Software over the telephone. It is strongly encouraged for Licensee to use a traceable, overnight carrier to ensure compliance with this provision, as there will be no exceptions should this time frame not be met. IF LICENSEE RETAINS LICENSED PACKAGE BEYOND THE RETURNED PERIOD, IT IS UNDERSTOOD THAT LICENSEE WILL NOT BE ENTITLED TO A REFUND OF THE FEE FOR THE ENTIRE LICENSED PACKAGE OR ANY COMPONENT MARKETS THEREOF FOR ANY REASON REGARDLESS OF THE CIRCUMSTANCES.

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20. Successors. It is agreed that the benefits and the burdens of this Agreement shall inure to the benefit of and be binding upon Market Technologies, its successors and assigns, and Licensee, his or its successors, heirs, and personal representatives. 21. Attorney’s Fees. In the event Market Technologies should be required to take legal action to enforce any of the provisions of this Agreement, Market Technologies may recover its reasonable Attorney’s fees (up to and including any appellate proceedings) and costs from the Licensee whether or not litigation results. This Section shall be construed as an agreement, independent of any other provision in this Agreement, and the existence of any claim or cause of action on the part of Licensee against Market Technologies, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by Market Technologies of the provisions of this Section. 22. Construction. Section headings and pronouns are included solely for convenient reference and shall not control the meaning or the interpretation of any of the provisions of this Agreement. 23. Entire Agreement. The parties agree that this Agreement is the entire License Agreement between them governing the use of Licensed Package by the Licensee and supersedes any proposal or prior agreement, oral or written, or any other communications between them relating to the subject matter hereof. 24. Modifications. The parties agree that this Agreement cannot be changed by any oral statements, but only by a license agreement modification (“License Agreement Modification”). The Licensee must execute and return a License Agreement Modification and Market Technologies must receive the License Agreement Modification executed by Licensee, postmarked within ten (10) days from the date that Market Technologies sent the License Agreement Modification to Licensee. The License Agreement Modification shall become effective (the “Effective Date”) upon receipt by Market Technologies. - 169 -

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25. Updated and/or Subsequent Versions of Licensed Package. The parties agree that this Agreement shall govern and control all obligations of Licensee with respect to the current version of the Licensed Package licensed to the Licensee and that any updated and subsequent versions of Licensed Package including new component market categories either added to the Licenseeâ&#x20AC;&#x2122;s Portfolio or otherwise provided to the Licensee by Market Technologies shall be governed by the version of the License Agreement accepted by the Licensee when installing such updated and subsequent versions of the Licensed Package; provided, however, that, this version of the License Agreement shall control if the installation and/or use of such updated and subsequent versions of the Licensed Package are not supported by consideration. 26. No Fraud or Reliance on Market Technologies Representations. Licensee further acknowledges and agrees that Licensee entered into this Agreement based solely upon the terms contained within this Agreement and without relying upon any oral or written inducements, statements or representations by Market Technologies or its agents or representatives that are not set forth in this Agreement. 27. Severability. If any provision of this Agreement is held for any reason to be unenforceable by a court of competent jurisdiction, the remainder of this Agreement will, nevertheless, remain in full force and effect in that jurisdiction. 28. Non-acceptance of Agreement. If Licensee does not accept the terms of this Agreement for any reason, then Licensee must contact Market Technologies to obtain a Return Merchandise Authorization number ("RMA") within five (5) calendar days from the date of initial receipt by Licensee of Licensed Package, must display the RMA number prominently on the outside of the Licensed Package, and must return all materials comprising Licensed Package to Market Technologies postmarked by Licensee within ten (10) calendar days from the date of initial receipt by Licensee of Licensed Package for a partial refund, excluding any credit card processing fees incurred by Market Technologies and its initial shipping and handling charges. IT IS UNDERSTOOD THAT - 170 -

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THE DATE OF INITIAL RECEIPT BY LICENSEE IS: (A) THE DATE THAT LICENSED PACKAGE WAS DELIVERED TO THE ADDRESS PROVIDED TO MARKET TECHNOLOGIES BY LICENSEE AND SIGNED FOR BY AN ADULT AT THAT ADDRESS, (B) THE DATE THAT MARKET TECHNOLOGIES SENT AN EMAIL TO THE EMAIL ADDRESS GIVEN TO MARKET TECHNOLOGIES BY THE LICENSEE, IN WHICH THE EMAIL CONTAINED A LINK TO ALLOW THE LICENSEE TO DOWNLOAD THE SOFTWARE FROM MARKET TEHCNOLOGIES’ WEBSITE, OR (C) THE DATE THAT MARKET TECHNOLOGIES HAND-DELIVERED THE LICENSED PACKAGE TO THE LICENSEE AT MARKET TECHNOLOGIES’ PLACE OF BUSINESS. 29. Additional Acknowledgements. LICENSEE FURTHER ACKNOWLEDGES THAT LICENSEE HAS CAREFULLY READ THIS AGREEMENT, HAD SUFFICIENT OPPORTUNITY TO CONSULT WITH LEGAL COUNSEL OF LICENSEE’S CHOICE BEFORE ENTERING THIS AGREEMENT AND/OR CONTINUING WITH THE INSTALLATION OF THE SOFTWARE, UNDERSTANDS LICENSEE’S RIGHTS AND OBLIGATIONS UNDER THE AGREEMENT, AND THAT THE INSTALLATION BY LICENSEE OF THE SOFTWARE ON THE LICENSEE’S COMPUTER IS AN ACCEPTANCE BY THE LICENSEE OF ALL OF THE TERMS AND CONDITIONS OF THIS AGREEMENT.

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EXHIBIT “A” LICENSED PACKAGE VantagePoint Intermarket Analysis Software (includes all component market categories) comprised of 1 CD-ROM Disk enclosed in a CD Package: VantagePoint Intermarket Analysis Software. VantagePoint Intermarket Analysis Software User’s Guide. Book - Forex Trading using Intermarket Analysis by Louis B. Mendelsohn Book - Trend Forecasting with Intermarket Analysis by Louis B. Mendelsohn

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