Daily Spot

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

Dollar Basket Dec (DXZ) Over achiever. Thursday’s open gapped up through its 78.50 and 78.90 ttargets. A second consecutive higher close would signal a much stronger trend underway. Regardless of intraday action, closing negative would be the first step to ending the rally.

Gold Dec (GCZ) Ruling out one path. Another big plunge Thursday followed two consecutive inside days. The last was last Thursday. Its resolution is unlikely to repeat, since two consecutive similar setups rarely do. And last week’s setup reacted up immediately, making an immediate bounce likely to fail quickly. Otherwise, the trend remains down.

30-year Treasury Dec (USZ) Just when there’s no end in sight. Hardly any weakness from 143’02 preceded extending sharply higher to the 145’14 objective. There is potential for extending up to 146’12 and even to 147’28, so long as pullbacks hold 144’12.

Crude Oil Nov (CLX) Making up for lost time. Wednesday’s close under 85.15 wasted no time extending down Thursday to the 81.00 objective. The velocity all but assures a lower low, dooming any bounce to failure.

Natural Gas Oct (NGV) Enough already. Another fresh low Thursday largely retraced into the close keeps alive potential for a corrective rally. But none has yet been signaled.

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