Bigger Picture

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 Mar Contract (EC, ETF: (FXE, UUP))
Repeated testing of the decline’s 1.0865 support finally reacted up Thursday to trigger the 1.0900 buy signal targeting 1.1050.

Gold Apr Contract (GC, ETF: (GLD))
Surging through 1242.00 and then above 1248.00 Thursday was extended to test 1261.00, still targeting fresh highs up to 1265.00.

Silver May Contract (SI, ETF: (SLV))
Extending its recent recovery Thursday tested the 15.15 buy signal whose recovery puts into play a test of the 15.70 gap above.

30-year Treasury Jun Contract (US, ETF: (TLT))
Wednesday failed to confirm Tuesday’s deep drop by ranging narrowly around 162-14, allowing Thursday’s surge to test 163-14 whose recovery would signal the drop had ended, and also 163-24 whose recovery would signal a new upleg underway. Both tests reacted down initially.

Crude Oil Apr Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Probing slightly higher again Thursday above 35.00 still continued overlapping prior highs, leaving the door open to triggering the sell signal that was raised Wednesday to 33.00.

Natural Gas Apr Contract (NG, ETF: (UNG, UNL))
Thursday’s EIA report wasn’t greeted from a position of strength. Fresh lows overnight Its favorable knee-jerk reaction to the news momentarily probed positive territory before dipping back down to test the open’s gap. That neutralizes the gap’s attraction below, and allows a recovery above 1.70 to seal a bottom.

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 Mar Contract (EC, ETF: (FXE, UUP))
Still fluctuating Wednesday around the decline’s 1.0865 likely support, with potential for closing back above 1.0900 to target at least a corrective bounce to 1.1050.

Gold Apr Contract (GC, ETF: (GLD))
Bouncing Wednesday back to 1242.00 neither rejected it nor closed above it, so there’s still room up to 1249.00 before signaling a retest of prior highs up to 1265.00.

Silver May Contract (SI, ETF: (SLV))
Firming Wednesday recovered back up to Tuesday morning’s highs, still needing to recover 15.15 to target 15.70.

30-year Treasury Jun Contract (US, ETF: (TLT))
Ranging narrowly Wednesday around 162-14 didn’t extend Tuesday’s drop to confirm it, but recovering 163-14 would still signal the decline had ended, and back above 163-24 would reverse momentum back up.

Crude Oil Apr Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Fluctuating wildly around unchanged Wednesday did probe a fresh high that allows raising the sell signal 50 cents to 33.00. That doesn’t prevent breaking higher from the Symmetrical Triangle pattern that has formed, but the likelier resolution is still down.

Natural Gas Apr Contract (NG, ETF: (UNG, UNL))
Tuesday’s late surge that never extended higher was retraced entirely overnight, but no changes were made to the pattern that would still trigger a rally above 1.80.