Daily Spot

A weekly summary of high-profile members of several complexes.[pay]

Dollar Basket Sep (DXU) Finally! A confirmed sell. Monday’s negative close was the first confirmation of a prior day’s sell signal in the past three weeks. The close was only nominally lower, and recovered from probing well under Friday’s lows. The 73.00 target is in-play so long as 73.85 is not recovered Tuesday.

Gold Dec (GCZ) Dry wells of enthusiasm. Friday’s post-close surge extended higher Sunday night to test the 1838.50 resistance. Its reversal down did not gain traction, and a narrowing ranged developed around Friday’s 1795.50 pit close. Post-close action attacked 1775.00, whose break would extend the drop, and probably also resume last week’s drop.

Silver Dec (SIZ) Sitting this one out. Friday’s post-close gains never surged, and they didn’t extend higher Sunday night. Closing under 40.15 would trigger another downleg, but closing above 41.15 would put into play 45.70.

30-year Treasury Sep (USU) One step closer to reality. No second day of attacking 139’06 was necessary after Friday’s bounce to 139’00. The first day already wasn’t necessary. But now it is unlikely, since Monday’s open gapped down and extended back to 136’10. Closing under 137’06 signaled momentum is reversing down. Closing Tuesday under 136’10 would confirm.

Crude Oil Oct (CLV) Delaying the eventual. Monday’s gap up above 86.25 follows two days of holding deep intraday dips under 84.80, instead of closing under 84.80 to trigger a downleg. Post-open action ranged narrowly, which is appropriate for the upside not being well-defined. Closing back under 84.80 would still be bearish, especially if a close above 84.25 can be avoided.

Natural Gas Sep (NGU) Last ditch non-effort. The failure to recover 4.00 was not necessarily bearish, but fresh lows followed anyway Monday. A second consecutive lower close would invalidate the current extended range as being a bottom.

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