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) Inside day on Thursday, instead of a second consecutive higher close that would have confirmed Wednesday’s breakout. Extending higher without delay would now be suspicious, so a pullback Friday is likelier.

Gold Dec (GCZ) Exaggerated its pullback Thursday, but that doesn’t alter whether it is only a pullback. Intraday lows filled an outstanding gap and tested lower prior highs, recovering all through the close. Another probe above 1800.00 remains likely before topping.

Silver Dec (SIZ) Thursday’s substantial pullback included a retest of overnight lows that had already reacted up sharply. There is no unfinished business below, and now only excessive pessimism at its recent peak that reversed down prior to actually probing the prior high.

30-year Treasury Dec (USZ) The gap back to Tuesday’s close was filled and held Thursday. But its reaction up gained no traction, while support was chipped away. Unless sellers were productive immediately Friday, then a retest of 143’04 is likelier to come next. Regardless, there is no more predictability within this range until the next trending effort were to begin. (Cash markets closed Friday for Veteran’s Day holiday.)

Crude Oil Dec (CLZ) Fresh highs Thursday met the next extended Fibonacci target of the same consolidation pattern (that was resisted by 94.00). Each prior target has produced a reaction down into the range. A pullback still has room down to 93.75 before closing lower to confirm a new downleg is underway.

Natural Gas Dec (NGZ) Greeting the week’s last session from at or under the range’s lows must produce a steeply productive short-squeeze to avoid trending down into next week.

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