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Daily Spot… – If, Then… Market Timing

Daily Spot…

By Rod David | April 25, 2016 - 2:22 pm

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))
Monday morning was only contained within Friday’s range, but it did duplicate Friday’s downtrending. A gap is no left outstanding back to Friday’s close, further suggesting that Monday’s bounce is only temporary.

Gold Jun Contract (GC, ETF: (GLD))
Gapping up Monday is not an appropriate way to end the last week’s plunge, let alone after stopping optimistically short of fulfilling unfinished business just below at 1222.00. Holding 1241.50 as resistance and reversing back under 1234.50 should resume the decline.

Silver May Contract (SI, ETF: (SLV))
Monday’s firm open didn’t extend higher, which at least avoids confirming last week’s plunge, but still needs to restart the rally.

30-year Treasury Jun Contract (US, ETF: (TLT))
An eventual third lower close had been put into play by Tuesday’s confirmed breakout, which could be fulfilled Monday after the open’s probe of fresh lows remained in negative territory through the noon hour.

Crude Oil Jun Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Sunday night flirted with the 43.10 sell signal but recovered enough to open Monday flat. An intraday retest of overnight lows could still trigger the sell signal.

Natural Gas May Contract (NG, ETF: (UNG, UNL))
Fresh highs attacked 2.18 at Sunday’s open but reversed to open Monday flat-to-lower, trending down even deeper intraday to 2.03. Back above 2.08 would resume the rally, targeting 2.20-2.25.

Posted in Bigger Picture, Daily Spot, members-only