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.

Dollar Basket Jun Contract (DX, ETF: (UUP, UDN))
Friday’s inside day didn’t offer new information or context for the pattern, except that further delaying the recent high’s retest makes new highs likelier to become a new upleg.

Eurodollar Jun Contract (EC, ETF: (FXE))
Gapping down trending down Friday while still being an inside day suggests the pattern’s ultimate resolution will be up. But a retest of recent lows must be rejected without delay to avoid becoming a new downleg.

Gold Aug Contract (GC, ETF: (GLD))
Sideways ranging probed 1274.70 resistance up to 1278.00, which must be rejected by Monday afternoon to avoid extending the bounce to 1291.00.

Silver Jul Contract (SI, ETF: (SLV))
Friday’s session firmed to fresh recovery highs testing 19.67, continuing its relative outperformance to Gold, next targeting 19.82 if not reversing down by Monday afternoon.

30-year Treasury Sep Contract (US, ETF: (TLT))
Thursday’s close above 135-22 was seemingly rejected at Friday’s opening gap down back to and through 135-22. But a reaction up from “lower prior highs” around 135-08 extended back to Thursday’s high above 136-00, still targeting 136-18.

Crude Oil Jul Contract (CL, ETF: (USO))
Overnight highs tested and retested the 107.40 target, retracing back under Thursday’s highs into Friday’s open. The balance of the session gradually firmed to test 107.15 ahead of the weekend’s Middle East unknown.

Natural Gas Jul Contract (NG, ETF: (UNG, UNL))
Fresh highs overnight tested 4.80 before spending Friday’s session hovering above 4.71, which needs to hold as support to maintain the rally’s momentum.

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