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Daily Spot – If, Then… Market Timing

Daily Spot

By Rod David | October 24, 2014 - 3:23 pm

A daily summary of high-profile members of several complexes… View a more detailed discussion of each chart at the end of today”s Market Wrap.

Eurodollar Dec Contract (EC, ETF: (FXE))
Friday”s firming was just noise so long as the 1.2700 bounce limit held, and it was only touched.

Gold Dec Contract (GC, ETF: (GLD))
Thursday”s break under 1941.60 and 1931.00 wasn”t confirmed by a second consecutive lower close, as Friday was only an inside day that ended above 1231.00.

Silver Dec Contract (SI, ETF: (SLV))
Bouncing back into the 17.25-17.40 range held as resistance, as the close settled below it.

30-year Treasury Dec Contract (US, ETF: (TLT))
Having turned upward just enough Thursday above 141-24 to target 142-12, testing 142-12 at Friday”s open did hold as resistance. The balance of the session drifted lower and barely closed negative, but not to confirm Thursday”s break.

Crude Oil Dec Contract (CL, ETF: (USO))
Thursday”s bounce to 81.80 resistance was probed a little higher overnight, but reversed entirely to gap down Friday. The entirety of the session range narrowly sideways around the open.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Thursday”s ugly session extended down overnight to fresh lows. That was extended a little intraday to 3.55 before recovering back above Thursday”s lows to 3.62, but there is no active buy signal.

Posted in Daily Spot