Daily Spot

A daily summary of high-profile members of several complexes… View a more detailed discussion of each chart at the end of today’s Market Wrap.

Eurodollar Jun Contract (EC, ETF: (FXE, UUP))
Still testing the 1.0690-1.0725 pullback area Tuesday keeps alive the potential for recovering 1.0750 and extending back to last Monday’s 1.0930 gap up.

Gold Jun Contract (GC, ETF: (GLD))
Extending higher overnight to 1263.70 after triggering the 1252.00 buy signal Monday settled in around 1258.00, likely to probe higher Wednesday.

Silver May Contract (SI, ETF: (SLV))
Tuesday morning’s probe above 18.30 was retraced entirely to fill the gap back to Monday’s close, but then recovered enough to close above 18.30 and suggest a probe above 18.55 is underway.

30-year Treasury Jun Contract (US, ETF: (TLT))
Tuesday’s blip-up above Monday’s 152-00 high, which had already fulfilled the retest of last Monday’s gap up, was again reversed back down, and into negative territory at 151-17, just 5 ticks short of the new sell signal.

Crude Oil May Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Initially extending Monday’s shallow dip overnight was reversed to rally Tuesday to fresh highs testing 51.15, maintaining the rally targeting 53.55.

Natural Gas May Contract (NG, ETF: (UNG, UNL))
Gapping up Tuesday rejected Monday’s dip to the 3.13 sell signal, surging instead to fresh highs at 3.28. The top needed no such retest, so the strength does suggest new sponsorship has arrived.

A daily summary of high-profile members of several complexes… View a more detailed discussion of each chart at the end of today’s Market Wrap.

Eurodollar Jun Contract (EC, ETF: (FXE, UUP))
Fresh lows Sunday night thoroughly tested the remaining room below at 1.0690-1.0725 for a pullback, while still being likely to resolve up above 1.0750 and fill last Monday’s 1.0930 opening gap.

Gold Jun Contract (GC, ETF: (GLD))
Monday morning’s probe above Friday’s recovery high also tried triggering the 1252.00 buy signal that essentially targets at least a probe above last week’s highs, if not also a fresh recovery high close.

Silver May Contract (SI, ETF: (SLV))
Narrowly ranging price action Monday continued to avoid resuming the rally above 18.30 for a probe above 18.55, and also avoided rejecting the test of 18.30 for launching a new downleg.

30-year Treasury Jun Contract (US, ETF: (TLT))
Unfinished business above at last Monday’s 151-26 gap up was finally tested Monday morning, probed briefly to a fresh high at 152-10. The 150-24 sell signal is no longer unlikely to break lower if tested. Just closing under 151-12 would suggest a top is completing.

Crude Oil May Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Monday morning’s pullback was relatively shallow, and barely threatened to reject the confirmed bottom already targeting 53.55 above.

Natural Gas May Contract (NG, ETF: (UNG, UNL))
Sunday night’s gap up to 3.24 was reversed down sharply into Monday’s open, down to the 3.13 sell signal whose break would be likely to launch a new downleg.

A daily summary of high-profile members of several complexes… View a more detailed discussion of each chart at the end of today’s Market Wrap.

Eurodollar Jun Contract (EC, ETF: (FXE, UUP))
Narrowly fluctuating Friday around 1.0720 maintains the likelihood of having ended the reaction down from Monday’s gap up, and for retesting that gap up to be the next leg.

Gold Jun Contract (GC, ETF: (GLD))
Probing a fresh pullback low overnight held the prior Thursday’s low, and recovered intraday to try triggering the 1252.00 buy signal that would enable one more fresh high close.

Silver May Contract (SI, ETF: (SLV))
Not closing negative Friday for a second consecutive session after Thursday touched “higher prior lows” at 18:30 can make the rally likely to next target a probe above 18.55.

30-year Treasury Jun Contract (US, ETF: (TLT))
Intraday probing a little deeper this time under the 150-24 sell signal down to the 150-06 previous pullback limit was still less likely to extend down. Recovering back into positive territory suggests the unfinished business above at Monday’s 151-26 opening gap will be filled next.

Crude Oil May Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Fresh highs Friday continued to suggest that the bottoming pattern has now resolved higher, targeting 53.55 so long as 49.30 holds as support.

Natural Gas May Contract (NG, ETF: (UNG, UNL))
Gapping up Friday attacked the week’s highs and consolidated above the 3.13 sell signal that was only touched Thursday as support, now ready to break lower into a durable downleg.

A daily summary of high-profile members of several complexes… View a more detailed discussion of each chart at the end of today’s Market Wrap.

Eurodollar Jun Contract (EC, ETF: (FXE, UUP))
Gapping down again Thursday is no less premature for launching a new downleg without first retesting Monday’s 1.0935 gap open, The break under 1.0835 has extended to 1.0725, and back above 1.0765 would signal momentum reversing up.

Gold Apr Contract (GC, ETF: (GLD))
Dipping Thursday probed Friday’s post-close low down to 1244.00, which further neutralized any attraction below that it might have had. Also lacking any upside requirements since already rewarding last week’s confirmed breakout, the pattern is being monitored for a new setup and signal.

Silver May Contract (SI, ETF: (SLV))
Firming Thursday morning touched the “higher prior lows” at 18.30. Reversing to close in negative territory would prevent extending the bounce to probe above 18.55.

30-year Treasury Jun Contract (US, ETF: (TLT))
Still yet to retest Monday’s 151-26 gap up, the 150-24 sell signal was retested Thursday. Its prior test has chipped away at its support to allow its break to be credible, albeit not yet optimal.

Crude Oil May Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Already probing slightly higher overnight, the 48.50 signal and its 49.30 confirmation were probed Thursday to test 50.45, likely forming a bottom. Its recovery should test at least 53.55.

Natural Gas May Contract (NG, ETF: (UNG, UNL))
The knee-jerk reaction to Thursday’s EIA report touched the 3.14 sell signal and bounced as expected to fill the gap at Wednesday’s 3.23 open. Any close under Thursday’s low would now be credible for reversing the trend down.

A daily summary of high-profile members of several complexes… View a more detailed discussion of each chart at the end of today’s Market Wrap.

Eurodollar Jun Contract (EC, ETF: (FXE, UUP))
Having reacted straight down since Monday’s gap up, Wednesday’s gap down served as capitulation to the premature reversal attempt. It’s not a buy signal, but the gap back up to Monday’s 1.0935 open should be filled before a durable decline would be credible.

Gold Apr Contract (GC, ETF: (GLD))
Tuesday’s post-close dip back down to Friday’s close did not extend lower overnight, but its reaction up was shallow.

Silver May Contract (SI, ETF: (SLV))
Flat-to-higher ranging Wednesday kept alive the attraction to “higher prior lows” at 18.30, which remain in-play so long as 17.90 holds as support.

30-year Treasury Jun Contract (US, ETF: (TLT))
Tuesday’s test of the 150-24 sell signal wasn’t likely to break lower without first bouncing to fill Monday’s 151-26 gap open at the rally’s 152-00 target. Wednesday’s gap up rejected the test, and flat-to-higher ranging kept alive that attraction above.

Crude Oil May Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Already testing the 48.50 buy signal through Tuesday’s close, the aggressive reaction to Wednesday morning’s EIA report probed above 49.00 to further suggest that a durable bottom is forming, testing 49.30 whose recovery would confirm.

Natural Gas May Contract (NG, ETF: (UNG, UNL))
Gapping up to fresh highs Wednesday was too aggressive at this stage of the pattern to be reliable for extending higher, other than greeting Thursday’s EIA report from a position of strength.