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.

Today’s Highlight Precious metals including Gold and Silver probed fresh relative highs Monday. Silver probed levels not seen in weeks, with a bullish aggression not seen since the Hunt Brothers tried to corner the market. That may be an exaggeration, but not relative to the range’s tight ongoing hold.

Dollar Basket Sep Contract (DX, ETF: (UUP, UDN)) The week began by attacking 82.80, whose recovery would signal a new upleg underway. The session ended without recovering from a dip back into negative territory.

Eurodollar Sep Contract (EC, ETF: (FXE)) Monday’s opening dip under 1.2300 reacted back up into positive territory. Back above 1.2380 would suggest a bigger corrective bounce underway before ultimately retesting prior lows.

Gold Dec Contract (GC, ETF: (GLD)) An early retest of the 1613.00 pullback limit Monday morning launched a probe of fresh highs attacking 1625.00. Now pullbacks must hold 1619.00 to maintain the rally’s momentum.

Silver Sep Contract (SI, ETF: (SLV)) Monday’s surge through 28.00-28.15 extended to fresh highs, signaling that 30.00-30.35 is in-play.

30-year Treasury Sep Contract (US, ETF: (TLT)) Monday’s narrow ranging around 146-00 nearly qualified as in inside day. It was the second consecutive session to trade exclusively within Thursday’s range. The 146-25 bounce limit could be extended up to 147-00, and still be likely to resolve down.

Crude Oil Sep Contract (CL, ETF: (USO)) Narrow sideways ranging Monday only slightly pierced under the 95.15 pullback limit, maintaining the likelihood of resolving up.

Natural Gas Sep Contract (NG, ETF: (UNG, UNL)) Monday’s sideways range avoided probing lower lows, leaving open the potential that closing above 2.80-2.85 would trigger an upleg.

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