Daily Spot… Weekend reactions.
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))
Friday’s reaction down to the upper-end of the 1.1275-1.1345 range extended down overnight to gap down Monday at the range’s lower-end. Extending lower intraday tested 1.1200, so that back above 1.1275 would now resume the rally. There is otherwise no active sell signal.
Gold Dec Contract (GC, ETF: (GLD))
The reaction down from having fulfilled the 1141.50 target tested 1129.40 Sunday night, which must hold to maintain the rally’s momentum. Back above 1138.70 would resume the rally.
Silver Dec Contract (SI, ETF: (SLV))
The 15.10 pullback limit held another shallow test Sunday night. Back above 15.33 would resume the rally.
30-year Treasury Dec Contract (US, ETF: (TLT))
Friday’s steep rally to 155-24 resistance reacted down into Monday’s gap down at 155-00 that trended down intraday to test 153-28. Back above 154-14 would resume the rally. Otherwise, the correction could extend next down to test 152-30.
Crude Oil Oct Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Rallying Sunday night back to 46.00 resistance wasn’t rejected Monday, so Friday’s break lower wasn’t confirmed, but the rally’s resumption is not signaled without also recovering 46.60.
Natural Gas Oct Contract (NG, ETF: (UNG, UNL))
Gapping down Sunday night and extending lower into Monday’s open prevents a buy setup from triggering without first retesting Monday’s 2.55 opening gap from above 2.61 “higher prior lows.”
