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 Sep Contract (DX, ETF: (UUP, UDN))
Monday’s narrow ranging around 80.25 resistance wasn’t decisive enough to reverse momentum up, but any initial strength Tuesday would be credible for extending higher intraday.

Eurodollar Sep Contract (EC, ETF: (FXE))
Sunday night’s dip to 1.3580 recovered back above Thursday’s low before Monday’s open. Holding the low keep s the door open to at least bounce back up to 1.3660 if not also to probe above 1.3700.

Gold Aug Contract (GC, ETF: (GLD))
Monday’s early dip to 1313.00 support held but didn’t launch a reaction up any higher than the 1322.00 resistance. An intraday probe up to 1326.00 remains likely.

Silver Sep Contract (SI, ETF: (SLV))
Overnight weakness didn’t bleed into the new week, although neither was it rejected as Monday only ranged narrowly above 21.05 support.

30-year Treasury Sep Contract (US, ETF: (TLT))
Holding 134-10 Thursday morning made a near-term bottom likely, and closing above 134-25 made a bounce to 135-26 likely, too. Monday’s opening surge got there. Closing above it would signal a much bigger leg in-play targeting 137-22.

Crude Oil Aug Contract (CL, ETF: (USO))
Sunday night’s weakness extended down intraday Monday to fresh lows testing 103.20. The 102.50 and 101.00 targets remain intact so long as bounces now hold 104.05 as resistance.

Natural Gas Jul Contract (NG, ETF: (UNG, UNL))
Barely clinging to 4.38 support last week proved only to have expended buying pressure fruitlessly, as the week began with fresh lows overnight that trended down more sharply intraday, probably targeting 4.23.

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