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 Mar Contract (EC, ETF: (FXE, UUP))
Tuesday’s bounce retested Monday’s 1.0635 high, supported by the 1.0585 bounce limit that was barely being tested as support Monday.
Gold Apr Contract (GC, ETF: (GLD))
Monday’s post-close weakness down to 1251.50 was retraced back up to 1259.00 Tuesday. But only temporarily before returning to 1251.50, and then lower post-close. That filled the gap back down to Thursday’s breakout close, but a fresh high close remains outstanding.
Silver May Contract (SI, ETF: (SLV))
[Rolling front-month forward to May, at a 6-cent premium to Mar] Firming only slightly Tuesday to 18.50 keeps alive potential for extending higher to fulfill the 18.75 target.
30-year Treasury Mar Contract (US, ETF: (TLT))
Monday’s “ineffectual optimism” kept alive the upside momentum of Friday’s breakout, despite not confirming it. But fresh highs Tuesday only pierced Monday’s high, and still hasn’t extended the rally.
Crude Oil Apr Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Gapping down sharply Tuesday to and through the 53.58 sell signal was recovered to fill the gap back up to Monday’s 54.00 close, still holding the range’s boundaries.
Natural Gas Apr Contract (NG, ETF: (UNG, UNL))
Quickly firming Tuesday leaves outstanding “unfinished business below,” at least a probe under last Tuesday night’s 2.65 low. The interim bounce could still extend up to 2.86.
