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 Crude Oil’s late recovery Monday wasn’t necessary for the bottom that was forming through Friday. So, trying to resume the rally when not required would be bearish if the rally were not extended almost immediately Tuesday.

Dollar Basket Mar Contract (DX, ETF: (UUP, UDN))
Monday’s dip attacked prior highs under prior highs under 82.60 and has yet to extend under 82.37 and 82.25 to signal momentum reversing down.

Eurodollar Mar Contract (EC, ETF: (FXE))
Friday’s retest of prior lows and 1.2955 support reacted up Monday to 1.3040. The the 1.3105-1.3113 buy signal targeting 1.3185 and 1.3300 could still trigger so long as pullbacks now hold 1.3005.

Gold Apr Contract (GC, ETF: (GLD))
Fresh highs Sunday night did not persist into Monday’s session, failing to extend Friday’s recovery from its fresh low, and leaving an attraction to new lows.

Silver Mar Contract (SI, ETF: (SLV))
Monday’s gap down never extended, holding above 28.65 support, and the session only ranged sideways in negative territory.

30-year Treasury Jun Contract (US, ETF: (TLT))
Friday’s reaction up from plunging on the NFP report barely extended any higher Monday, not even testing its 141-14 bounce limit, maintaining the decline’s momentum targeting 140-08.

Crude Oil Apr Contract (CL, ETF: (USO))
Monday’s dip to 90.90 spent much of the session deep into negative territory. A full recovery was not necessary since Friday afternoon’s rally to 92.00 had already confirmed Thursday’s break 91.45. But a late surge probed from highs anyway up to 92.15.

Natural Gas Mar Contract (NG, ETF: (UNG, UNL))
Monday’s gap down was reversed into positive territory, fresh highs for the move, and still not triggering the 3.53 sell signal targeting 3.30-3.33.

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