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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))
The new week was greeted firmer, but still only testing last week’s highs, as the 1.1380 sell signal remains intact if triggered.

Gold Apr Contract (GC, ETF: (GLD))
Gapping up Monday within Friday’s range needed to extend higher intraday to be more than just noise, resuming the rally. But the range held, keeping alive the upside momentum.

Silver May Contract (SI, ETF: (SLV))
Monday’s gap up attacked the resistance of last Tuesday’s highs, still needing a higher close to signal the rally has resumed.

30-year Treasury Jun Contract (US, ETF: (TLT))
Still overlapping the 146-00 buy signal Friday did not change much Monday, as the session ranged around it flat-to-higher. A reaction down has room to 145-16 before signaling the bounce has ended.

Crude Oil Apr Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Friday’s optimistically shallow, brief dip had recovered only to unchanged. Sunday night’s dip was recovered into Monday’s open and extended higher to attack 59.25. The confirmed breakout’s minimum requirement for at least an eventual third higher close may be fulfilled, needing to close above 59.50 to signal the rally is extending.

Natural Gas Apr Contract (NG, ETF: (UNG, UNL))
Friday’s reaction down from 2.84 resistance was recovered yet again, still being the buy signal for resuming the rally, and still being likely to trigger.