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Daily Spot… Bond or bust. – If, Then… Market Timing

Daily Spot… Bond or bust.

By Rod David | October 2, 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 Sep Contract (EC, ETF: (FXE, UUP))
Wednesday’s break wasn’t confirmed Thursday, but Friday’s spike up on payrolls didn’t hold its probe above 1.1265. Fresh lows remain in-play, especially so long as 1.1213 is now broken as support.

Gold Dec Contract (GC, ETF: (GLD))
A little extra dose of pessimism further under 1117.00 ahead of Friday’s Employment report facilitated a spike up to attack 1141.50, proving the pullback had ended.

Silver Dec Contract (SI, ETF: (SLV))
Spiking up Friday morning and extending higher to test 15.25 raised the pullback limit to 15.10 to maintain the pullback has reversed up.

30-year Treasury Dec Contract (US, ETF: (TLT))
Spiking up on Friday’s payrolls report to 160-20 was retraced back down to the 158-18 prior highs, now raising the actionable sell signal to a close under 157-24.

Crude Oil Nov Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Friday’s choppiness may have been a warning shot at the growing likelihood for breaking lower to and probably through 42.80.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Friday’s fresh low didn’t extend, but it’s premature for Monday to offer a reversal setup.

Posted in Bigger Picture, Daily Spot