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 Sep Contract (EC, ETF: (FXE, UUP))
Gapping up a little doesn’t yet prevent retesting Sunday night’s low down to 1.1055. But closing above 1.1205 would signal at least a substantial multi-session bounce underway.

Gold Aug Contract (GC, ETF: (GLD))
The ongoing series of lower lows and lower highs remained intact following Tuesday’s bounce. Dipping under Tuesday’s 1210.50 low makes likely at least a retest of Sunday night’s ~1202.00 lows.

Silver Jul Contract (SI, ETF: (SLV))
Ranging narrowly at Tuesday’s test of 16.00 appears to be forming an Island, although that pattern isn’t likely at this stage.

30-year Treasury Sep Contract (US, ETF: (TLT))
The stunning rejection of Tuesday’s probe under the 162-04 sell signal to rally back up to the original 163-05 buy signal needed a correction before extending higher. Dipping to Tuesday night’s dip to 162-25 support reacted up back into positive territory at Wednesday’s open and extended sharply higher intraday. It was retraced to its signal, but closing higher and confirming would target 166-14.

Crude Oil Jul Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
The capitulative reversal of the Complex Triangle’s false break became obvious by Wednesday’s gap down under the 49.00 sell signal. Extending down to 47.75 didn’t prevent bouncing back up to the sell signal. A second consecutive lower close Thursday would confirm the minimum objective in-play to probe under the Triangle’s 47.25 low.

Natural Gas Jul Contract (NG, ETF: (UNG, UNL))
Gapping up Wednesday and extending higher intraday need only close higher to confirm Tuesday’s break above 2.18 and 2.24 has finally sealed a bottom.