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Daily Spot… – If, Then… Market Timing

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 Jun Contract (EC, ETF: (FXE, UUP))
Narrowly fluctuating Friday around 1.0720 maintains the likelihood of having ended the reaction down from Monday’s gap up, and for retesting that gap up to be the next leg.

Gold Jun Contract (GC, ETF: (GLD))
Probing a fresh pullback low overnight held the prior Thursday’s low, and recovered intraday to try triggering the 1252.00 buy signal that would enable one more fresh high close.

Silver May Contract (SI, ETF: (SLV))
Not closing negative Friday for a second consecutive session after Thursday touched “higher prior lows” at 18:30 can make the rally likely to next target a probe above 18.55.

30-year Treasury Jun Contract (US, ETF: (TLT))
Intraday probing a little deeper this time under the 150-24 sell signal down to the 150-06 previous pullback limit was still less likely to extend down. Recovering back into positive territory suggests the unfinished business above at Monday’s 151-26 opening gap will be filled next.

Crude Oil May Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Fresh highs Friday continued to suggest that the bottoming pattern has now resolved higher, targeting 53.55 so long as 49.30 holds as support.

Natural Gas May Contract (NG, ETF: (UNG, UNL))
Gapping up Friday attacked the week’s highs and consolidated above the 3.13 sell signal that was only touched Thursday as support, now ready to break lower into a durable downleg.