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Daily Spot… – If, Then… Market Timing

Daily Spot…

By Rod David | April 4, 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 Jun Contract (EC, ETF: (FXE, UUP))
Still testing the 1.0690-1.0725 pullback area Tuesday keeps alive the potential for recovering 1.0750 and extending back to last Monday’s 1.0930 gap up.

Gold Jun Contract (GC, ETF: (GLD))
Extending higher overnight to 1263.70 after triggering the 1252.00 buy signal Monday settled in around 1258.00, likely to probe higher Wednesday.

Silver May Contract (SI, ETF: (SLV))
Tuesday morning’s probe above 18.30 was retraced entirely to fill the gap back to Monday’s close, but then recovered enough to close above 18.30 and suggest a probe above 18.55 is underway.

30-year Treasury Jun Contract (US, ETF: (TLT))
Tuesday’s blip-up above Monday’s 152-00 high, which had already fulfilled the retest of last Monday’s gap up, was again reversed back down, and into negative territory at 151-17, just 5 ticks short of the new sell signal.

Crude Oil May Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Initially extending Monday’s shallow dip overnight was reversed to rally Tuesday to fresh highs testing 51.15, maintaining the rally targeting 53.55.

Natural Gas May Contract (NG, ETF: (UNG, UNL))
Gapping up Tuesday rejected Monday’s dip to the 3.13 sell signal, surging instead to fresh highs at 3.28. The top needed no such retest, so the strength does suggest new sponsorship has arrived.

Posted in Bigger Picture, Daily Spot, members-only