Daily Spot…
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 Mar Contract (EC, ETF: (FXE, UUP))
Recovering 1.090 undermines the 1.0750 retest. But only closing above 1.1000 would negate the eventual retest at all.
Gold Feb Contract (GC, ETF: (GLD))
Gapping up sharply to probe above 1089.00 also ran into a gap. Filling it reacted down, which would still be bullish so long as 1089.00 holds as support. Back under 1084.00 would target a retest of Thursday’;s close.
Silver Mar Contract (SI, ETF: (SLV))
Surging Friday to once again chip away at 14.10 resistance which must still be recovered to launch a rallly.
30-year Treasury Mar Contract (US, ETF: (TLT))
Market turmoil triggered another round of flight-to-safety, which also can produce the eventual third higher close that required by the confirmed breakout.
Crude Oil Feb Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
The recent calm during stock market volatility may have decoupled Crude Oil from stocks, but that doesn’t prevent breaking lower in tandem.
Natural Gas Feb Contract (NG, ETF: (UNG, UNL))
Not bouncing from 2.14 has broken lower to suggest a deeper pullback underway that can’t bottom earlier than Tuesday.
