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Daily Spot… Gold liquefying. – If, Then… Market Timing

Daily Spot… Gold liquefying.

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 Jun Contract (EC, ETF: (FXE, UUP))
Gapping down only slightly Tuesday amid more progress toward Grexit continued to suggest that any detrimental effect was still not in-play near-term, and that the eventual third higher close remains intact.

Gold Jun Contract (GC, ETF: (GLD))
Dipping at Tuesday”s open allo the way down to 1175.50 helped to confirm somewhat that the bounce through Monday afternoon had expended any remaining buying pressure before finally resuming the decline next targeting 1158.50.

Silver Jul Contract (SI, ETF: (SLV))
After failing to maintain Monday”s probe back up into the 16.15-16.35 range, Tuesday”s open gapped down to attack recent lows, supported by 15.85-15.90.

30-year Treasury Jun Contract (US, ETF: (TLT))
Bouncing overnight and testing 151-22 Tuesday morning was still likely only noise while consolidating or backing-and-filling before Wednesday or Thursday. Retracing most of the open”s rally back down to 150-15 helped to confirm, albeit still reflecting a little more optimism than would be optimal at this stage for a durable rally.

Crude Oil Jul Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Testing 60.30 Monday night was already reacting down into Tuesday”s open, and essentially held 59.75 through the day.. Closing above 60.80 would signal another rally attempt underway.

Natural Gas Jul Contract (NG, ETF: (UNG, UNL))
Extending higher Tuesday would have confirmed Monday”s close reversed the multi-session pullback.But the inside day only avoided retracing under the 2.83 pullback limit, to keep alive the upward momentum.