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Daily Spot… – If, Then… Market Timing

Daily Spot…

By Rod David | December 24, 2015 - 2:22 pm

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

Eurodollar Dec Contract (EC, ETF: (FXE, UUP))
Thursday’s gap up didn’t reject Wednesday’s gap down, and the pullback targeting 1.0750-1.0785 remains intact.

Gold Feb Contract (GC, ETF: (GLD))
Gapping up Thursday extended to close above 1074.00to suggest the reaction down had ended. But closing above 1077.70 is still needed to reverse the trend back up..

Silver Mar Contract (SI, ETF: (SLV))
Already having dipped relatively shallowly Wednesday, Thursday’s strength extended to close at a fresh high that suggests a new upleg is underway if confirmed by a second consecutive higher close.

30-year Treasury Jan Contract (US, ETF: (TLT))
Wednesday’s bounce from fresh lows extended just higher enough Thursday to fill the gap back to Tuesday’s close. Its attraction above had prevented Wednesday’s drop from extending, so neutralizing its attraction allows the decline to resume.

Crude Oil Jan Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Thursday’s gap up extended higher intraday to confirm Wednesday’s close above the 37.70-37.90 buy signal.

Natural Gas Jan Contract (NG, ETF: (UNG, UNL))
Already probing fresh recovery highs overnight, Thursday’s EIA report was greeted from a position of strength.

Posted in Bigger Picture, Daily Spot