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))
Extending down Friday is confirming Thursday’s break under 1.1345. At least a third eventual lower close is required, probably at 1.1235-1.1255. Whether before or after fulfilling this objective, ranging at the highs should be retested.

Gold Apr Contract (GC, ETF: (GLD))
Wednesday’s break under 1253.00 had filled the first gap outstanding back down to 1244.00, before extending down Thursday to within $1 of fulfilling the next lower gap back to 1224.50. Back above 1234.50 would signal that the drop would not extend to new lows.

Silver May Contract (SI, ETF: (SLV))
Thursday’s modest gap down didn’t extend as the session lows essentially remained within Wednesday’s range. A fresh high would resume the rally targeting 16.85.

30-year Treasury Jun Contract (US, ETF: (TLT))
The next lower pullback target at 164-12/164-20 was tested to within 1 tick Thursday morning, which would be close enough for a rally triggered above 165-20 to leave no unfinished business below.

Crude Oil May Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Wednesday night’s dip under the 41.20 pullback limit touched the 40.90 sell signal before recovering ahead of Thursday’s open. Having tested support once, any lower before closing above 42.35 would be likely to collapse.

Natural Gas May Contract (NG, ETF: (UNG, UNL))
Thursday’s open gapped down to test 1.99 support by 2-3 cents. That’s where last week’s failed confirmation had closed, so holding it is critical to quickly resuming this week’s breakout above 1.99 targeting 2.18.