Daily Spot

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

Dollar Basket Dec (DXZ) Here it comes. Overnight strength on renewed Euro weakness tested the 77.30-77.35 buy signal as resistance (the Euro tested its comparable resistance). Immediate follow-through is the most appropriate confirmation.

Gold Dec (GCZ) Whack-a-gold. Monday’s initial strength extended Friday’s optimistic bounce to further probe above 1681.50. That doesn’t make it any more sustainable, or able to avoid returning down to 1653.60 and 1636.50.

Silver Dec (SIZ) Sitting this one out. Hunkered down safely in a range defined by 32.00-32.50 may be a safe place to hide, but not for very long.

30-year Treasury Dec (USZ) Seems heavy. Fresh lows under 137’20 Sunday night reversed up in a flight-to-safety as stocks fell apart. The recovery extended to fill the gap back to Thursday’s 139’14 close. Friday’s trapped sellers could have been exploited a little more, but weren’t. Holding 140’06 as resistance makes the drop extra vulnerable to extending down sharply.

Crude Oil Nov (CLX) About that recovery. Despite having recovered to close above 86.05 Friday, Monday did not close higher to confirm the signal. Sunday night’s high tested a fresh high up to 88.18, and Monday’s dip under Friday’s low to 86.88 didn’t extend down. But Friday’s breakout should have extended higher Monday if it were valid.

Natural Gas Nov (NGX) Non-confirmation. Just closing above 3.70 Monday would have confirmed Friday’s 3.57 signal. Despite extending higher initially Sunday night to 3.77, the regular session weakened. At least the close held 3.62 to allow another fresh high to be credible for resuming the rally.

[/pay]

Share your questions and comments on this post in the blog, or in the chartroom…