A daily summary of high-profile members of several complexes.
Gold Aug Contract (GC, ETF: (GLD))
inside day avoided touching either the $1,227.50 per oz. or $1,217.00 buy and sell signals. Still not rejecting the dip into open does keep live the downside momentum.
Silver Sep Contract (SI, ETF: (SLV))
Narrowly ranging avoided touching either of the buy or sell signals at 15.60 and 15.40, respectively. Still not rejecting the dip into open does keep alive the downside momentum.
30-year Treasury Sep Contract (US, ETF: (TLT))
Last week ended choppily within the range, which I pointed out was not to be confused with stability. night’s weakness extended to fresh relative lows. gap down was retraced back up to prior lows, continuing the pattern of “ineffectual optimism” that has been bearish from a contrarian perspective.
Eurodollar Sep Contract (EC, ETF: (FXE, UUP))
Gapping back up to the new 1.1725 buy signal extended quickly to touch the 1.1755 old buy signal. Closing above 1.1765 would help to confirm that last week’s pullback had reversed up, targeting 1.1850.
Crude oil Sep Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
dip to the $68.33 per barrel pullback limit was already resolving night — by firming, and then surging into open through the $69.25 buy signal. Already testing 70.00 resistance still has potential up to 71.75 simply as a correction.
Natural Gas Sep Contract (NG, ETF: (UNG, UNL))
Gapping up another couple of cents to 2.81 suggests the bounce is extending. There is no requirement to fulfill higher objectives, so not rejecting higher close immediately would make the rally likely to extend.