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) Wednesday morning’s action held within Tuesday’s narrow range before finally drifting lower into the afternoon. No relevant support was broken that might have prevented resuming the rally Thursday.

Gold Feb (GCG) An early probe above 1735.00 resistance Wednesday was absorbed by a dip back into negative territory under 1729.00. But fresh highs followed on news of more Eurozone ratings downgrade threats. A second consecutive higher close would confirm a new upleg underway, but closing under 1735.00 would be bearish.

Silver Mar (SIH) Wednesday’s session ranged narrowly around Tuesday’s close, which had held an aggressive test of long-standing resistance. The underperformance vs. Gold is glaring.

30-year Treasury Mar (USH) The 141’08 sell signal’s 140’04 objective was met Tuesday night. You wouldn’t know it from an intraday chart, which rallied up to 141’30. Closing above 141’18 reopens the door to testing 142’22.

Crude Oil Mar (CLH) A fresh low down to 100.00 reacted back up above 101.00, which was still being tested through the close. The pullback was not damaging enough to prevent extending the rally for a test of the 103.00 area.

Natural Gas Mar (NGH) Wednesday’s gap down rejected the recovery opportunity that was created by Tuesday’s bounce. Wednesday’s close at prior lows created another opportunity. The gap back to Tuesday’s close may try to attract price higher, but a close above 3.57-3.60 is still the minimum requirement for triggering an upleg.

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