Daily Spot

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

Dollar Basket Dec (DXZ) A bigger dip in store. A fresh high was reversed to close back under 78.90. Closing under 78.50 would trigger a deeper dip back to the past two weeks’ upper-end down in the 78.00 area.

Gold Dec (GCZ) A window is closing. The 1636.50 pre-open test reacted down, and retraced 50% of the recovery from the 1535.00 overnight low. Post-close action has rallied back to 1630.00, but it’s just noise without closing above 1636.50. And it doesn’t prevent another downdraft to 1575.00. But a close above 1654.00 would trigger a much bigger rally.

Silver Dec (SIZ) A window is open. Recovering 30.50 would have signaled momentum reversing up, and it was tested through the afternoon. But the close was still ranging around it instead of clearly triggering its signal. Gapping Tuesday up above 31.40 could extend the bounce to 32.20 and 33.50.

30-year Treasury Dec (USZ) Almost an afterthought. The reaction from testing 145’02 (up to 145’10) extended down to 142’27. Extending further would target 141’25, so long as bounces hold 144’00.

Crude Oil Nov (CLX) Holding its own. Monday’s close was testing the 80.00 area as support, backing off from 81.25. The bounce should test 82.65 before another dip that fulfills the decline’s final objective. But extending the dip back under 80.00 would trigger that next downleg.

Natural Gas Oct (NGV) The meek shall inherit a relief rally. Gapping up from 3.70 and surging higher to test 3.80 was somewhat of a reward for having ignored other markets’ overnight ranging. More so, it was the reward for Thursday and Friday’s fresh lows not gaining traction. The bounce can extend to 3.88 on this leg, and before a bigger rally were to gain traction.

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