Daily Spot

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

Dollar Basket Dec (DXZ) It doesn’t go that far. Initial weakness Thursday stopped short of probing fresh lows. Instead, the pattern firmed. It may yet continue firming to retest 78.90 before first filling the gap back to last Friday’s 77.80 close.

Gold Dec (GCZ) Unmovable. Thursday’s $26 range fluctuated around unchanged, and closed around unchanged. Unchanged is around 1620.00, whose break would confirm a deeper dip is underway. Its next target remains 1592.00.

Silver Dec (SIZ) Hardening. Thursday’s choppy session still closed while testing its relevant 30.00 level, equilibrium that suggests the next trending attempt will fail.

30-year Treasury Dec (USZ) Once more for the fun of it. Thursday’s open exploited Wednesday’s recovery back above Tuesday’s 140’25 lows. Its opening strength extended eventually up to 142’05. Closing above 141’25 puts into play potential to 145’10. Closing higher for  second consecutive day Friday would confirm.

Crude Oil Nov (CLX) Thanks for playing. Thursday’s open gapped up above 82.00 and tested Wednesday’s ~84.00 highs as resistance, then retraced to close back at 82.00. It doesn’t get any more optimistic: gap up, probe prior high, spend entire session in positive territory. Except for not also closing above the prior high that was probed. Instead of being bullish, the session’s “ineffectual optimism” is bearish on a close under 81.75.

Natural Gas Oct (NGV) No reaction to news is good news. Wednesday’s close did not greet Thursday’s EIA report from a position strength. And Thursday’s reaction did not rally. But at least its reaction was not bearish, which may allow the bounce to meet its 3.88 objective.

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