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))
Despite last week’s confirmed break of the 1.1345 sell signal requiring an eventual third lower close, Monday firmed back up to the sell signal. Still, nothing prevents probing higher in the interim, or requires immediately fulfilling the objective.

Gold Apr Contract (GC, ETF: (GLD))
Friday’s overly-optimistic gap up from only attacking 1224.00 to 1234.50 had reacted down, and the overly optimistic reaction down had recovered to fresh highs that ended back at 1234.50. Similarly, gapping up Monday to test 1241.00 resistance also reacted down to 1234.50. A test of 1224.00 remains in-play, and likely to be probed by several dollars.

Silver May Contract (SI, ETF: (SLV))
Monday’s firm morning held the 15.25 pullback limit that keeps in-play the higher objective up to 15.85.

30-year Treasury Jun Contract (US, ETF: (TLT))
Pulling back from Friday’s test of 166-16 resistance down to 165-20 could have launched a new upleg Monday, but probing it under 165-12 essentially targets a more thorough test the 164-12/164-20 pullback limit that had been tested to within 1 tick last week.

Crude Oil May Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Gapping down sharply Sunday night and extending down to 37.60 didn’t prevent recovering to 38.50 by Monday’s open, and or entirely back to Friday’s 40.40 close that had triggered the 40.80 sell signal. A second consecutive lower close could still confirm the breakout, but more backing-and -filling wouldn’t negate the new attraction below at Monday’s gap down.

Natural Gas May Contract (NG, ETF: (UNG, UNL))
Monday’s firming didn’t recover 1.95 or recover from probing a fresh low, either of which would signal the pullback had ended.