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Daily Spot… Bonding. – If, Then… Market Timing

Daily Spot… Bonding.

By Rod David | July 23, 2015 - 2:36 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 rejection of Tuesday”s probe above 1.0920 didn”t prevent rallying overnight to gap up Thursday above Tuesday”s 1.0977 high up to 1.0260 1.1026. There”s still room up to 1.0475 1.1047 without yet signaling the trend has reversed up.

Gold Aug Contract (GC, ETF: (GLD))
Initially bouncing overnight set-up a test of 1100.00 resistance, which held intraday Thursday. Resuming the decline would still next target 1176.50.

Silver Sep Contract (SI, ETF: (SLV))
Trading flat-to-lower Thursday continued avoiding fresh lows, but the pattern is still likely to probe fresh lows before any rally effort would be credible.

30-year Treasury Sep Contract (US, ETF: (TLT))
The rally extended Thursday to fulfill the next higher attraction, filling the gap outstanding back up to 154-00. A fresh high close remains in-play and likely to test 154-20, especially so long as pullbacks hold 153-18 as support.

Crude Oil Sep Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
The decline extended Thursday to fulfill the 48.25 target. Closing back above 49.30 would start to signal momentum reversing up.

Natural Gas Aug Contract (NG, ETF: (UNG, UNL))
Firming Thursday ahead the EIA report then blipped-up to 2.95 and collapsed back down to the 2.83 pullback limit, which needs to hold to maintain further upside potential.

Posted in Daily Spot