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 | June 26, 2018 - 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 Sep Contract (EC, ETF: (FXE, UUP))
Overnight weakness tested the new  1.1725 pullback limit, and held it intraday to maintain potential for extending the bounce up to 1.1850. Otherwise, breaking the pullback limit and extending under 1.1700 would target fresh lows at 1.1575.

Gold Aug Contract (GC, ETF: (GLD))
A double-digit overnight slide to 1256.50 gapped down to fresh lows again Tuesday. Like Thursday’s gap down, the balance of the morning trended back up to 1264.00. But Tuesday had already begun rolling back over. Regardless, the low will need to be retested.

Silver Jul Contract (SI, ETF: (SLV))
Gapping down to fresh lows after testing 16.15 quickly rallied Tuesday to fill the gap back up to Monday’s close above 16.30. The balance of the session hovered narrowly under unchanged, with the open’s gap now requiring a retest.

30-year Treasury Sep Contract (US, ETF: (TLT))
Tuesday’s flat-to-lower ranging held within Monday’s range and just under Monday’s 144-16 high, still having potential to test 144-26 and to reverse down from there.

Crude Oil Aug Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Not confirming Friday’s breakout above 65.65 on Monday didn’t prevent extending higher Tuesday to fulfill the 70.25 target up to 70.65. Pullbacks must now hold 69.35 as support to avoid potentially triggering the 68.80 sell signal.

Natural Gas Aug Contract (NG, ETF: (UNG, UNL))
[Rolling coverage forward to Aug which trades at a 1-cent premium over Jul]… Flat, narrow ranging between 2.90-2.92 didn’t extend Monday’s drop, which remains vulnerable to breaking lower anyway so long as 2.96 isn’t recovered first.

Posted in Bigger Picture, Daily Spot, members-only