Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the disable-gutenberg domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/jwl23/public_html/rd.johnlander.me/wp-includes/functions.php on line 6131
Daily Spot… – If, Then… Market Timing

Daily Spot…

By Rod David | December 15, 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 Dec Contract (EC, ETF: (FXE, UUP))
Weaker Friday morning tested 1.1755 which must break lower to confirm no bottoming pattern has formed, and that the larger decline has resumed.

Gold Feb Contract (GC, ETF: (GLD))
Holding 1251.00 and 1255.00 during Thursday’s pullback kept alive Wednesday’s post-close momentum, which gapped up at Friday’s open. Drifting back down to unchanged through the morning closed flat on the day.

Silver Mar Contract (SI, ETF: (SLV))
Thursday’s pullback had held 15.85 to maintain the potential that Wednesday’s post-close rally had ended the decline’s momentum. Gapping up Friday didn’t extend higher, but was supported intraday by 16.05 to maintain the rally’s momentum.

30-year Treasury Dec Contract (US, ETF: (TLT))
Wednedsay’s breakout and Thursday’s confirmation extended higher Friday to test the next buy signal that would be triggered by closing above 154-08.

Crude Oil Jan Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Overnight strength gapped up Friday to test 57.40, which must hold as resistance to maintain Wednesday’s 56.80 sell signal targeting 55.50.

Natural Gas Jan Contract (NG, ETF: (UNG, UNL))
Not trending down Thursday despite overnight and intraday lower lows down to 2.64 did open the door to begin bottoming. But Friday eventually resumed the decline to new lows. The nearest buy signal would be triggered above 2.72 and confirmed above 2.80.

Posted in Bigger Picture, Daily Spot, members-only