Daily Spot

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

Dollar Basket Sep (DXU) The pause button. Tuesday’s open gapped down as the session consolidated recent gains. The 76.85 pullback limit was attacked to within 1 tick, so the potential remains alive for extending up to 78.00 and 78.45.

Gold Dec (GCZ) Don’t. Look. Down. Monday’s break under 1835.00 was retraced entirely at Tuesday’s open. It did not extend down or confirm the sell signal. Further, recovering 1835.00 into and out of Tuesday’s close suggests a rally to new highs at 1933.00-1935.00 is underway.

Silver Dec (SIZ) No excuses now. Tuesday’s open gapped back above last week’s 4.39 low that Monday’s close had broken under. Tuesday’s close ended back above 40.95 to invalidate its sell signal. A second consecutive higher close Wednesday would confirm another attempt underway at probing above 4.44.

30-year Treasury Dec (USZ) Noise in the (wide) range? The first trending attempt from ranging narrowly around 114’12 was Tuesday’s dip down to 140’06. It held as support, Creating the potential for now surging up to fresh highs above 142.00. Closing under 139’20 would signal momentum already reversing down.

Crude Oil Oct (CLV) The go-ahead. After Monday’s gains stopped pessimistically short of filling the gap back to Thursday’s 89.10 close, Tuesday’s open gapped up and extended higher to probe 90.00. Again. But as suggested after Friday’s gap down held another test of uptrending support, recovering this time would all but assure testing 92.00 before a downleg could begin.

Natural Gas Oct (NGV) No cigar. Monday’s “ineffectual pessimism” resolved by gapping up Tuesday. Despite probing above 3.95-4.00 intraday, 4.00 held as resistance. I still expect a valid trigger of the buy signal to finish the day well above 4.05 and possibly above 4.10 — that was not (yet?) it Tuesday.

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