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))
Gapping down and extending lower fulfills the new low close required by last week’s confirmed breakout. It also suggests this leg will extend to test 1.1055 so long as 1.1205 isn’t recovered.

Gold Jun Contract (GC, ETF: (GLD))
The longstanding 1241.00 target was met before Tuesday’s open. Extending down through the noon hour tested 1228.00, and next targeting 1223.00 so long as 1236.50 isn’t recovered.

Silver Jul Contract (SI, ETF: (SLV))
Gapping down Tuesday to Monday’s low reacted up to attack 16.50 to within only a nickel before reversing down to fresh lows. A second consecutive lower close Wednesday must be avoided to keep alive potential for near-term reversal back into an uptrend.

30-year Treasury Jun Contract (US, ETF: (TLT))
Three consecutive sessions testing the 164-17 buy signal without triggering it had left no bullish excuse to further delay extending higher. The consequences were realized quickly by Wednesday’s drop back down to the 163-16/163-22 pullback limit tested at  Friday’s open. Closing below it would likely extend to fill one of both gaps outstanding back to the low.

Crude Oil Jul Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
The 47.75 sell signal had failed to trigger at Monday’s close, but Tuesday’s bounce didn’t reject it by only touching 49.00.

Natural Gas Jun Contract (NG, ETF: (UNG, UNL))
Monday’s reaction down to 2.05 from gapping up above 2.11 did not reverse up Tuesday. It didn’t even hold its room for noise down to 2.03. But Tuesday’s dip did fill the gap back below to Friday’s close, while leaving unfinished business above back up to Monday’s gap, still making a rally likelier than starting a new downleg.