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) Tuesday’s inside day wasn’t predictive, except that it did not reject Monday’s recovery from having gapped down. Still potential to resume the rally.

Gold Feb (GCG) Gapping down to the 1718.00 objective Tuesday extended lower immediately into a range supported by 1708.00. A complete recovery into the close tested 1731.00, possibly sponsored by impatient buyers. Potential for another downleg unless 1735.00 were recovered.

Silver Mar (SIH) Recovering from Tuesday’s gap down expended a lot of energy only to close back into the prior three sessions’ resistance — not above it. Extending higher above 33.27 without delay would be credible for launching a new upleg, but any lesser strength will likelier retest Tuesday’s 31.90 gap open.

30-year Treasury Mar (USH) The opportunity to retest 140’18 support was largely fulfilled Tuesday, but not entirely. The outstanding attraction should help to maintain weakness into Wednesday’s open for potentially also testing 140’04. Closing above 141’18 instead would be bullish.

Crude Oil Mar (CLH) Tuesday’s range was probably subdued by the Dollar’s inside day, but the pattern remains likely to test the 103.00 area.

Natural Gas Mar (NGH) Having retested the 3.47 low, closing above 3.57-3.60 would trigger a new upleg targeting at least 3.71. There is otherwise no buy signal.

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