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))
The delayed reaction to a top at 1.1435 has undermined the topping pattern, so Monday’s probe of fresh intraday highs has potential to extend into a new upleg. It stopped pessimistically short of touching last week’s overnight probe of fresh highs at 1.1475, so any higher would likely extend.

Gold Apr Contract (GC, ETF: (GLD))
Friday’s reaction up from the 1234.50 long-entry had already fulfilled the 1255.00 minimum objective overnight, but extended intraday to also fulfill the 1260.00 upper-end of its potential. Closing back under 1253.00 would signal that momentum is reversing down to fill gaps back to 1244.00 and 1225.00 instead of extending higher to 1270.00 and potentially 1286.00.

Silver May Contract (SI, ETF: (SLV))
Friday’s close above the 15.25 bounce limit was extended Sunday night and then higher throughout Monday morning to 15.99. Closing back under 15.88 would signal the bounce had peaked, and probably reversing down to resume the decline targeting 14.70.

30-year Treasury Jun Contract (US, ETF: (TLT))
Bouncing Sunday night to 166-25 didn’t prevent resuming the pullback targeting 165-12, which was then fulfilled Monday morning. Reacting up tested positive territory above at 166-15.

Crude Oil May Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Ranging around the 39.55 buy signal Friday was not rejected, and extended slightly higher Sunday night to test 40.75 intraday. That officially confirms Friday’s signal, but not convincingly, especially since neither session trended post-open.

Natural Gas May Contract (NG, ETF: (UNG, UNL))
Despite the intraday uptrend Thursday after gapping up above 1.95 resistance, and then Friday’s gap up, Monday’s open gapped back down under 1.95. The gap back to Wednesday’s 1.90 close was filled.