Daily Spot: Week ender.

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

Dollar Basket Jun (DXM) Just getting started. A brief pullback at Friday’s open was consolidated through the morning before extending sharply higher again. The 74.95 target was met, and exceeded up to 75.17. The next higher target in-play is 75.30, so long as pullbacks hold 74.70-74.75 as support. Any lower would trigger a deeper correction targeting 73.80.

Gold Jun (GCM) And the harder they fall, the smaller they bounce. Friday’s open held 1480.00 support for a bounce to attack the 1500.00 target. And then fell back to 1480.00. A corrective bounce’s most likely path would gap up above the 1518.00 area and extend higher to 1557.00-1560.00. Otherwise, the next lower is targeting 1461.00 to potentially end this downleg.

30-year Treasury Jun (USM) Second verse, same as the first. Like Thursday, Friday’s range centered around 124’00. And like Thursday, Friday’s opening high contained the afternoon rally’s peak. In fact, Friday’s close was back under Thursday’s high. Friday’s range was much wider, expending much more energy without gaining any traction for the extra effort. A close under 124’02 would target 123’02. Extending higher first would target 125’06, but there is no buy signal active.

Crude Oil Jun (CLM) How do you say “you’re fired” in Farsi? Thursday night’s 94.63 low completed a 4-day $20 plunge. Friday’s bounce up to 102.38 still closed negative around 98.00. Another corrective bounce would target 103.50 or 104.50 before the next downleg begins, targeting 90.40 or 87.70. Any long position should be aware of the background rumors of Iran’s Ahmadinejad being replaced.

Natural Gas Jun (NGM) Yawn. No movement Friday created any new setups

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