Daily Spot: Week ender.

A weekly summary of one complex, including daily updates of other developments elsewhere.[pay]

Dollar Basket Mar (DXH) Is there a flight to safety coming? The gap back to the prior Friday’s close was filled. It was created by “ineffectual pessimism,” so its recovery officially traps shorts. Any positive close would signal a new upleg underway.

Gold Apr (GCJ) Close enough for a bounce. The 1361.50 bounce target was met met within 50 cents. A reaction down to test 1342.50-1345.00 could launch another bounce leg targeting 1376.00. But otherwise any lower close would signal a new downleg underway.

30-year Treasury Mar (USH) Target met, if that’s the target. The long-standing target at 118’00 was met Friday. It was exceeded enough to make 117’16‘s test likely, too. Any bounce this close to the low would be only a correction.

Crude Oil Mar (CLH) An auspicious start. Thursday’s narrow ranging between 90.15-90.75 – the sell signal and its confirmation – wasn’t ready to extend down. Friday’s open held a test of 91.35, whose recovery would have triggered a bounce. The balance of the session plunged, triggering the next downleg targeting 84.00, so long as 90.15-90.75 is not recovered.

Natural Gas Mar (NGH) Drop and roll. The reaction back down to 4.32 weakened further overnight before Friday’s open. No lower low intraday only creates pent-up selling pressure. And Mondays in this market often duplicate Friday’s action. The week should begin by extending the drop to its 4.13 target.

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Daily Spot coverage schedule is: Currencies (Mon), Metals (Tue), Energies (Wed), Rates (Thu), Weekender (Fri).