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) Too long to be short? Thursday’s gap down quickly recovered back above the 77.35 signal, and above Wednesday’s late high. Extending higher into the close confirmed the signal. A late dip back under the signal is trying to invalidate it, anyway.

Gold Dec (GCZ) Too bearish too quickly. Wednesday’s obligatory bounce from Tuesday’s test of obligatory support was rebuked instantly by Thursday’s gap down well under 1636.50. A third obligatory bounce is unlikely.

Silver Dec (SIZ) Too shiny to rally. Got caught up in Thursday’s metals dump, also falling to close at new relative lows and under its 31.00 sell signal. This followed an intraday bounce that neutralized attraction above by filling the gap back to Wednesday’s close. A second consecutive lower close would confirm

30-year Treasury Dec (USZ) Too tight to break. Ranged narrowly throughout Thursday between the 139’00-140’06 signals.

Crude Oil Nov (CLX) Too bad, so sad. Wednesday’s deep retracement that narrowly held 86.05 was blind-sided by Khadafi’s news. Support gave way to sharply lower lows testing 84.00, which almost recovered to 86.05. Difficult to be bearish here, but not necessarily bullish. Monitoring for another session.

Natural Gas Nov (NGX) Too much, too late. Wednesday’s “ineffectual optimism” greeted Thursday’s EIA from a position of weakness. That didn’t prevent an initially favorable knee-jerk reaction up. Fresh lows for the week are likely.

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