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Daily Spot.. Greek gifts. – If, Then… Market Timing

Daily Spot.. Greek gifts.

By Rod David | July 10, 2015 - 2:28 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))
A funny thing happened on the way to filling the gap back to Tuesday”s 1.0935 opening gap. The interim test of the 1.1200 bounce limit had reacted down Thursday only to test 1.1000 support. The post-close Greece news triggered a gap up above the interim highs to test 1.1325 before drifting back down Friday to attack 1.1200 as support. Back under 1.1200 makes 1.0935”s test likelier next., but there is otherwise no active signal.

Gold Aug Contract (GC, ETF: (GLD))
Relatively narrow ranging only narrowed Friday, hovering just under the 1163.00 buy signal with no new information..

Silver Sep Contract (SI, ETF: (SLV))
Probing above 15.35-15.45 avoided the shallow dip needed to stretch the rubber band so it could snap back up and launch a rally. Without snapping back up from a blip-down, there is room to at least 15.85 before even beginning to suggest momentum is reversing up.

30-year Treasury Sep Contract (US, ETF: (TLT))
The Greece news after Thursday”s close gave the intraday drop to 150-16 a steroid injection that extended it down sharply. The week-old gap back to 149-07 was filled, and held. Back above 150-24 would signal momentum reversing back up.

Crude Oil Aug Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Narrow ranging persisted for the fourth consecutive session, still not extending the decline, but also not yet reversing it back above 54.30.

Natural Gas Aug Contract (NG, ETF: (UNG, UNL))
Thursday”s “pivotal reversal” extended higher immediately to gap up Friday, and to extend higher intraday, but still overlapping 2.77 resistance into the close..

Posted in Daily Spot