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 Sep Contract (EC, ETF: (FXE, UUP))
Friday’s reaction down from probing the 1.1265 bounce limit extended down Monday through the 1.1213 sell signal to put into play fresh lows targeting 1.1045 and potentially also 1.0900. A second consecutive lower close under 1.1190 would confirm.

Gold Dec Contract (GC, ETF: (GLD))
Extending its pullback to test 1130.00 Monday morning was quickly recovered back above 1133.50 to suggest the rubber band was snapping back up to resume the rally. But a second consecutive higher close didn’t confirm the breakout underway.

Silver Dec Contract (SI, ETF: (SLV))
Gapping up and extending sharply higher Monday now requires that pullbacks hold 15.55 to maintain the rally’s momentum.

30-year Treasury Dec Contract (US, ETF: (TLT))
After closing Friday while testing Thursday’s high, gapping down Monday within Friday’s range doesn’t require filling the gap back up to Friday’s close before extending down, which is suggested by closing under 157-24.

Crude Oil Nov Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Surging above 46.00 through Monday’s open attacked 47.00, but didn’t signal the trend breaking higher. The ongoing narrow consolidation remains vulnerable to breaking lower, initially targeting 42.80 and potentially probing last month’s lows.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Monday avoided piercing any prior low and only ranged flat-to-higher. Early above 2.48 Tuesday would be credible for extending higher intraday, so long as 2.44 were to hold any test as support.

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 Sep Contract (EC, ETF: (FXE, UUP))
Wednesday’s break wasn’t confirmed Thursday, but Friday’s spike up on payrolls didn’t hold its probe above 1.1265. Fresh lows remain in-play, especially so long as 1.1213 is now broken as support.

Gold Dec Contract (GC, ETF: (GLD))
A little extra dose of pessimism further under 1117.00 ahead of Friday’s Employment report facilitated a spike up to attack 1141.50, proving the pullback had ended.

Silver Dec Contract (SI, ETF: (SLV))
Spiking up Friday morning and extending higher to test 15.25 raised the pullback limit to 15.10 to maintain the pullback has reversed up.

30-year Treasury Dec Contract (US, ETF: (TLT))
Spiking up on Friday’s payrolls report to 160-20 was retraced back down to the 158-18 prior highs, now raising the actionable sell signal to a close under 157-24.

Crude Oil Nov Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Friday’s choppiness may have been a warning shot at the growing likelihood for breaking lower to and probably through 42.80.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Friday’s fresh low didn’t extend, but it’s premature for Monday to offer a reversal setup.

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 Sep Contract (EC, ETF: (FXE, UUP))
Wednesday’s break lower didn’t extend Thursday, but its bounce was relatively shallow and didn’t reject the attraction still outstanding to fresh lows.

Gold Dec Contract (GC, ETF: (GLD))
Narrow sideways ranging Thursday didn’t reject Wednesday’s close under the 1117.00 target which was still almost being overlapped at the close. Thursday’s narrow range also didn’t overlap it, or extend down,  making any initial rally effort credible for extending higher intraday..

Silver Dec Contract (SI, ETF: (SLV))
Choppy sideways action Thursday ought to hold above 14.50 resistance and avoid putting into play fresh lows.

30-year Treasury Dec Contract (US, ETF: (TLT))
Probing fresh highs was still retraced to range narrowly around 158-00, and now back under 157-14 and 156-16 would signal a deeper drop underway.

Crude Oil Nov Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Gapping up Thursday to test 46.00 resistance wasn’t any likelier to extend from a standing stop within the prior range, which was retraced into the afternoon.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Wednesday’s fresh low close didn’t greet Thursday’s EIA report from a position of strength. Gapping down didn’t help. An immediate rally at this stage wouldn’t be credible, but Tuesday’s confirmed breakout has no unfinished business below.

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 Sep Contract (EC, ETF: (FXE, UUP))
Having gone out Tuesday still testing the 1.1265 bounce limit, gapping down Wednesday suggests the outstanding objectives to fresh lows are back in-play.

Gold Dec Contract (GC, ETF: (GLD))
Gapping down $6 to 1120.50 Wednesday quickly extended down to the 1117.00 target. It was probed intraday under 1111.00, but the close was back to testing 1117.00 as resistance. Closing lower Thursday would target new lows, but the pullback has otherwise ended.

Silver Dec Contract (SI, ETF: (SLV))
Fresh relative lows intraday Wednesday still managed to recover back up to 14.50 to avoid putting into play fresh lows under 14.20.

30-year Treasury Dec Contract (US, ETF: (TLT))
Gapping down Wednesday similarly to Tuesday resolved differently, at least so far, but not recovering to fresh highs. Just consolidating narrowly barely avoided actually filling the gap back up to Tuesday’s close, but clearly avoided triggering the 156-16 sell signal.

Crude Oil Nov Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Narrow flat ranging in the wake of Tuesday’s post-close API data and Wednesday morning’s EIA report doesn’t reflect strength. But neither is it any more predictive than the pattern already in-play, and looking for 42.80 below.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Ending Tuesday by still only overlapping last Thursday’s 2.59 low hardly inhibited Wednesday from extending down much more deeply to test 2.51. This new low is not greeting Thursday’s EIA report from a position of strength.

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 Sep Contract (EC, ETF: (FXE, UUP))
Monday night’s probe above 1.1265 was repeated intraday Tuesday and ultimately probed into late-afternoon, which undermines resuming the decline unless rejected aggressively without delay.

Gold Dec Contract (GC, ETF: (GLD))
Lower lows overnight were repeated intraday, keeping in-play potential down to 1117.00, which would be confirmed under 1125.00.

Silver Dec Contract (SI, ETF: (SLV))
Narrow ranging Tuesday held above 14.50 to avoid putting into play fresh lows under 14.20, and still allowing a close above 14.65 to signal the pullback had ended.

30-year Treasury Dec Contract (US, ETF: (TLT))
Fresh highs overnight at 158-00 were reversed in time for Tuesday’s open to gap down, but that didn’t prevent retesting overnight highs intraday. The rally remains more vulnerable to extending than to collapsing during a flight-to-quality, and until closing back under 156-16.

Crude Oil Nov Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Trading firmer Tuesday didn’t recover the 46.00 bounce limit that keeps 42.80 in-play below.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Retracing back into the range Monday after gapping up above it left “unfinished business above” at its opening print. That didn’t prevent probing the range’s 2.63 lower-end intraday, down to last Thursday’s EIA knee-jerk reaction down to 2.59. Closing back above 2.63 would signal the range’s lower-end was still holding, and potentially launching a rally leg.