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 held its test Thursday of the 1.1205 bounce limit, Friday’s dip back to the lows can now form a bottom if held, which would be signaled by probing again back above 1.1205. Not immediately rejecting the low’s retest would resume the decline without delay, next targeting 1.1055.

Gold Jun Contract (GC, ETF: (GLD))
Friday’s new lows down to 1209.50 only recovered to 1213.50 which fulfilled the eventual lower close required by the week’s earlier confirmed breakout. A second consecutive lower close Monday would put into play 1190.00. Otherwise, the pattern is now free to form a bottom, so long as not initiated by gapping up.

Silver Jul Contract (SI, ETF: (SLV))
Dropping Friday to the range’s ~16.25 lower-end is still in the orbit of 16.50 which keeps alive the bottoming potential.

30-year Treasury Jun Contract (US, ETF: (TLT))
Thursday’s narrow overlapping of the 164-17 buy signal didn’t resolve up Friday, as price dipped back in the range toward the 163-16/163-22 pullback limit that has been thoroughly tested already.

Crude Oil Jul Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Gapping down Friday under the 49.00 sell signal bounced to test the 49.55 pullback limit that Thursday’s close was still testing. If momentum is reversing down, it’s not very decisive. But the burden of proof is on the rally to resume, or else capitulation by a new downleg should be obvious within hours..

Natural Gas Jul Contract (NG, ETF: (UNG, UNL))
Friday’s continued testing of the 2.18 buy signal didn’t resolve, requiring 2.24 to be recovered before having any confidence in a new upleg underway.