Daily Spot

A daily summary of high-profile members of several complexes…[pay] View a more detailed discussion of each chart at the end of today’s Market Wrap.

Today’s Highlight Has Gold turned a corner, even temporarily? That, or a corrective bounce is ending. The next week’s trending should be able to gain traction.

Dollar Basket Jun Contract (DX, ETF: (UUP, UDN))
Friday’s narrow ranging still leaves no patter or active setup.

Eurodollar Jun Contract (EC, ETF: (FXE))
Friday’s narrow ranging still leaves no patter or active setup.

Gold Jun Contract (GC, ETF: (GLD))
Thursday’s stunning reversal extended higher overnight to greet Friday ranging around Thursday’s 1299.00 highs, where the balance of the session remained. There is no buy setup, and a dip to at least 1285.00 is likely.

Silver May Contract (SI, ETF: (SLV))
Still ranging at or around 19.75 resistance Friday prevents a new upleg from getting underway. So does the gap back down to Thursday’s open, which should be filled first.

30-year Treasury Jun Contract (US, ETF: (TLT))
Gapping up at Friday’s open extended intraday to retest recent highs at 135-08. The recovery doesn’t qualify as a buy signal, and back under 134-06 is still the nearest sell signal.

Crude Oil Jun Contract (CL, ETF: (USO))
Further weakness into the weekend wasn’t deep enough to signal momentum reversing down, leaving the door open to a bounce back to 104.50 before a downleg would be credible.

Natural Gas Jun Contract (NG, ETF: (UNG, UNL))
Thursday’s reaction down extended lower to 4.64 into the weekend. Under 4.62 would signal the pullback extending to 4.41.

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