Daily Spot…

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 Mar Contract (EC, ETF: (FXE, UUP))
Relatively narrow ranging Thursday avoided printing a lower low, but also avoided a higher high that could have begun invalidating the ongoing downtrend.

Gold Apr Contract (GC, ETF: (GLD))
Extending Wednesday’s reaction down Thursday morning attacked the original 1222.60 inflection point as support, and bounced to test 1942.00 whose recovery would target a retest of the 1264.00 high.

Silver Apr Contract (SI, ETF: (SLV))
Probing under the 15.15 pullback limit eventually held and reacted back up to 15.15, but not decisively recovering it resume rallying to the 15.70 objective.

30-year Treasury Mar Contract (US, ETF: (TLT))
Extending down a little deeper overnight and Thursday morning was nevertheless recovered to attack 168-00, still targeting 170-00.

Crude Oil Apr Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
The 32.40 bounce limit touch produced a reaction down to 31.50. It has so far held, keeping alive potential for the corrective bounce to also touch 32.70 before resuming the decline back to recent lows.

Natural Gas Mar Contract (NG, ETF: (UNG, UNL))
Having failed to produce the third stage of a bottoming pattern that became possible after Monday’s close, Thursday’s EIA report wasn’t greeted from a position of strength. Its gap down under all prior lows extended down even further before recovering back to the open. Gapping up Friday back above 1.82 could form a near-term Island Reversal pattern targeting 2.00.