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 Dec Contract (EC, ETF: (FXE, UUP))
Remaining under pressure through Wenesdayh’s break, Thursday’s open popped-up above the 1.1370 buy signal to test 1.1400 resistance up to the week’s 1.1415 highs.
Gold Feb Contract (GC, ETF: (GLD))
Probing Tuesday’s 1247.00 high Thursday up to 1250.00 wasn’t maintained, so the rally’s extension has yet to be confirmed and remains vulnerable to reversing down.
Silver Mar Contract (SI, ETF: (SLV))
Thursday’s failure to probe the 14.65 buy signal and instead dip to 14.45 support, doesn’t invalidate the opportunity to trigger the buy signal, but does start a time limit into the weekend.
30-year Treasury Jan Contract (US, ETF: (TLT))
The confirmed breakout requiring an eventual third higher close was on its way to being fulfilled Thursday. Holding pullbacks to 142-22 keeps alive the attraction to 144-04, whose recover would reinforce the rally’s momentum. Friday’s payrolls report is being greeted from a position of strength.
Crude Oil Jan Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Holding 52.15 as support Monday through Wednesday helps to continue forming a bottom, but it doesn’t prevent a dip like Thursday’s under 51.00. But this should now be enough backing-and-filling for the pattern to justify an optimistic launch of a rally leg.
Natural Gas Jan Contract (NG, ETF: (UNG, UNL))
The struggle to recover the 4.44 buy signal and its 4.63 confirmation has become an attempt to hold the 3.32 pullback limit.
