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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))
Fresh lows Sunday night thoroughly tested the remaining room below at 1.0690-1.0725 for a pullback, while still being likely to resolve up above 1.0750 and fill last Monday’s 1.0930 opening gap.

Gold Jun Contract (GC, ETF: (GLD))
Monday morning’s probe above Friday’s recovery high also tried triggering the 1252.00 buy signal that essentially targets at least a probe above last week’s highs, if not also a fresh recovery high close.

Silver May Contract (SI, ETF: (SLV))
Narrowly ranging price action Monday continued to avoid resuming the rally above 18.30 for a probe above 18.55, and also avoided rejecting the test of 18.30 for launching a new downleg.

30-year Treasury Jun Contract (US, ETF: (TLT))
Unfinished business above at last Monday’s 151-26 gap up was finally tested Monday morning, probed briefly to a fresh high at 152-10. The 150-24 sell signal is no longer unlikely to break lower if tested. Just closing under 151-12 would suggest a top is completing.

Crude Oil May Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Monday morning’s pullback was relatively shallow, and barely threatened to reject the confirmed bottom already targeting 53.55 above.

Natural Gas May Contract (NG, ETF: (UNG, UNL))
Sunday night’s gap up to 3.24 was reversed down sharply into Monday’s open, down to the 3.13 sell signal whose break would be likely to launch a new downleg.