A daily summary of high-profile members of several complexes.
Gold Dec Contract (GC, ETF: (GLD))
Gapping up Monday to $1,195.00 per oz. eventually probed higher intraday, but only briefly as the afternoon dipped back down to 1195.00. The gap back down to Friday’s 1184.00 close — if not also 1172.50 — are still likelier to be tested before a recovery can be credible.
Silver Sep Contract (SI, ETF: (SLV))
Flat-to-higher ranging overnight persisted through Monday, still being likely to test 14.45 below before a recovery can be credible.
30-year Treasury Sep Contract (US, ETF: (TLT))
Gapping up Monday extended to Wednesday and Friday’s 145-00 high extended to fresh highs intraday. May’s pivotal high to July’s actual high is now essentially tested, so the pattern is vulnerable to extending higher to probe 147-00.
Eurodollar Sep Contract (EC, ETF: (FXE, UUP))
Friday’s close (well) above the 1.1385 buy signal had initially gapped down a little at Monday’s open. But post-open action trended up relentlessly to confirm, targeting 1.1540-1.1545.
Crude oil Oct Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
[Rolling coverage forward to Oct, which trades at a 55-60 cent discount to Sep]… Flat-to-higher ranging Monday continued Friday’s fluctuation around the pattern’s $65.50 per barrel buy signal. Triggering it through the close would target 68.25-69.25.
Natural Gas Sep Contract (NG, ETF: (UNG, UNL))
Gapping down Monday helped to confirm that Friday’s gap up into the rally’s target area was only noise. But the gap down didn’t extend, leaving outstanding the room below at 2.85.