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))
Is time up for a top? Despite still holding 1.1435 resistance all week, the 1.1345 sell signal has yet to break lower. Wednesday night’s brief probe above 1.1435 should have been rejected by now. Without already rallying Monday morning, the potential for reversing down will become much greater.

Gold Apr Contract (GC, ETF: (GLD))
The 1234.50 pullback target was tested Thursday night by a blop-down that touched 1231.00. Although likely to resolve down, the corrective bounce targeting 1255.00 and possibly higher should now become obvious if valid.

Silver May Contract (SI, ETF: (SLV))
Still overlapping the 15.25 bounce limit keeps alive the potential for resolving the upward channel by breaking down to fresh lows at 14.70. But overlapping the bounce limit up to Thursday’s 15.36 high does threaten to violate it.

30-year Treasury Jun Contract (US, ETF: (TLT))
Gapping down Friday to and through 166-19 from Thursday’s recovery high close now creates an attraction above that should enable recovering from a corrective dip down to 165-12/165-20.

Crude Oil May Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Rallying sharply overnight from 38.25 through 39.05 greeted Friday’s open at 39.55, whose recovery would reinstate the attraction above to 42.00-42.35. Otherwise, having tested 39.55, closing back under 39.05 would signal the bounce had failed and begin reversing momentum back down.

Natural Gas May Contract (NG, ETF: (UNG, UNL))
Initially extending Thursday’s recovery into Friday’s open, the morning’s reaction down to test 1.99 support keeps alive the upward momentum, although a second consecutive higher close would be more bullish.