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Daily Spot… – If, Then… Market Timing

Daily Spot…

By Rod David | March 7, 2017 - 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 Mar Contract (EC, ETF: (FXE, UUP))
The 1.0585 bounce limit was probed Tuesday while testing 1.0570, and also testing uptrending pivotal support, whose break would target 1.0470.

Gold Apr Contract (GC, ETF: (GLD))
Gapping down Tuesday to fresh lows met the 1218.00 target and ranged slightly lower intraday. A bounce has room up to 1230.00, and the decline can meanwhile extend down to 1209.00 or 1198.00.

Silver May Contract (SI, ETF: (SLV))
The 17.55 target was met Tuesday by gapping down to fresh lows. A bounce has room up to 17.75 before starting to signal a rally underway. And there is meanwhile room to extend the decline to test 17.05.

30-year Treasury Jun Contract (US, ETF: (TLT))
Eking lower to 148-20 probed fresh lows still targeting at least a test of 147-10 with no reason to delay accelerating its move.

Crude Oil Apr Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Gapping up Tuesday retested the 53.58 sell signal as resistance, then reacted back down to unchanged attacking 53.00, still poised to launch a downleg.

Natural Gas Apr Contract (NG, ETF: (UNG, UNL))
Tuesday’s gap down at or under the 2.86 bounce limit was extended down to the 2.83 sell signal that put into play a retest of the two-week old 2.64 overnight low.

Posted in Bigger Picture, Daily Spot, members-only