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) Is the weight over? Thursday’s extra dip(s)  still held 76.80-77.00 support. And that kept alive potential to begin another upleg. Friday’s session traded exclusively in positive territory, attacking Thursday’s highs, but has yet to fulfill the definition of being another upleg.

Gold Dec (GCZ) Almost out of breath. Almost. As suspected, Friday did not confirm Thursday’s premature breakout with a second consecutive higher close. The entire session ranged sideways in negative territory. Still, sellers did not gain traction, making Monday likely to probe fresh highs above 1768.00.

Silver Dec (SIZ) Catch-up. A relatively narrow sideways range Friday continued to tread water while Gold attracted most attention. Gapping down and trading negative all day formed “ineffectual pessimism” likely to resolve up, probably to probe the prior week’s test of the rally’s 35.50 target.

30-year Treasury Dec (USZ) Not yet. Weakness into and out of Friday’s Employment Situation report did not extend down through the close, making a retest of Wednesday night’s 143’04 highs likely.

Crude Oil Dec (CLZ) Sitting this one out. The test of the range’s 94.00 upper-end was not rejected Friday. Closing under 92.45 would still trigger a downleg. Meanwhile, more fresh highs are likely.

Natural Gas Dec (NGZ) Under the radar. Friday’s session returned Thursday’s recovery, but once again avoided closing at fresh lows to trigger a new downleg. New lows under 3.72 that recover to close above 3.75 or in positive territory above 3.78 would be bullish. No other pattern is being tracked.

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