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))
Having fulfilled the minimum requirement Tuesday from last week’s confirmed breakout, Wednesday’s narrow ranging firmed, only back up to Monday’s high, leaving the decline’s momentum intact.

Gold Jun Contract (GC, ETF: (GLD))
The next lower objective under 1241.00 at 1223.00 had been put into play by closing Tuesday under 1236.50. Probing under it and under 1218.00 intraday was still overlapping 1223.00 into the afternoon. But closing negative confirms Tuesday’s breakout from a multi-session range, requiring at least an eventual third lower close.

Silver Jul Contract (SI, ETF: (SLV))
Wednesday’s inside day ranged exclusively in negative territory after gapping down, continuing its relative outperformance to Gold. But “ineffectual pessimism” or not, attraction above to the 16.50 anchor is still trying to prevent another downleg.

30-year Treasury Jun Contract (US, ETF: (TLT))
Tuesday night’s dip probed back into the 163-16/163-22 pullback limit that had limited the intraday reaction down. Wednesday fluctuated narrowly, barely attacking the 164-17 buy signal while twice dipping to test its pullback limit.

Crude Oil Jul Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Probing above 49.00 Wednesday instead of reacting down almost immediately from its Tuesday test has created a target at slightly higher highs up to 49.95 and potentially 51.45. But now closing back under 48.40 would signal momentum reversing down.

Natural Gas Jun Contract (NG, ETF: (UNG, UNL))
Wednesday morning wasted no time duplicating the two prior day’s relentless drop, extending back down to last week’s 1.95 spike low.