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 Jun Contract (EC, ETF: (FXE, UUP))
Except for closing above 1.1355, Thursday’s ranging around the 1.1345 bounce limit would have maintained the likelihood for filling the gaps back down to 1.1282 and 1.1249 before any durable rally would be credible. A second consecutive higher close would confirm a retest of the highs underway.

Gold Jun Contract (GC, ETF: (GLD))
Wednesday’s post-close spike down to 1241.00 was retested overnight, and then recovered enough to gap up Thursday. Extending higher intraday filled the gap back to last week’s 1267.80 gap up above prior highs. Back under 1260.00 would signal the rally had ended, and under 1254.00 would reverse the trend back down.

Silver May Contract (SI, ETF: (SLV))
Wednesday’s post-close dip was recovered overnight and Thursday continue firming intraday to within a nickel of filling the gap back to last week’s 17.64 high opening print.

30-year Treasury Jun Contract (US, ETF: (TLT))
Closing above the 162-14 buy signal Wednesday had initially extended higher overnight, but Thursday was mostly spent fluctuating narrowly around the buy signal. The gap back down to 161-04 can still be filled near-term.

Crude Oil Jun Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Wednesday’s recovery to fresh highs firmed into Thursday’s open, testing 46.00. The sell signal cannot be raised higher than 43.85-43.90.

Natural Gas Jun Contract (NG, ETF: (UNG, UNL))
Gapping down Thursday under 2.11 greeted the morning’s EIA report from a position of weakness. The follow-through was nominal, but a rally into the weekend is needed to avoid targeting fresh lows under 1.95.