Daily Spot

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

Dollar Basket Dec (DXZ) Still teasing. Overnight dip filled gap back to Friday’s 76.95 close, and still recovered back above the 77.35 buy signal. A second consecutive higher close would confirm, but almost any further delay would suggest one more dip in-play to fresh lows.

Gold Dec (GCZ) Still in denial. Wednesday extended Tuesday’s obligatory bounce off of 1628.00-1636.00, but 1653.60 still held a probe as resistance. Its recovery would target 1677.00. Closing under 1636.50 should finally launch a new downleg.

Silver Dec (SIZ) Still ranging. Opening probe above 32.00 was reversed back to range’s ~31.25 lower-end. Closing under 30.70 would trigger a downleg. Its delay would keep alive potential for at least retesting 32.50 above.

30-year Treasury Dec (USZ) Still stalling. Tuesday’s failed probes above 140’06 were followed Wednesday by failed probes under 139’00. First close beyond either is likely to extend sharply in that direction. Pattern still looks heavy.

Crude Oil Nov (CLX) Still deciding. Wednesday’s 89.45 high was rejected down to 86.00, but held 86.05 instead of signaling momentum reversing down, which now requires closing under 85.50.

Natural Gas Nov (NGX) Still. Ineffectual Optimism (gap up, entire session spent positive, but no relevant gain) does not greet EIA report from strength. But fresh low intraday under 3.53 that recovers to close positive above 3.59, preferably above 3.64, would be very bullish.

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