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))
Monday’s gap up helped to invalidate Friday’s break to fresh lows, and to keep alive the likelihood for retesting last week’s 1.1400 high close. Gapping down Tuesday to retest Monday’s lows must avoid closing negative to maintain that recovery potential.

Gold Aug Contract (GC, ETF: (GLD))
Choppy trading overnight and Tuesday didn’t reject Monday’s gap up and intraday extension, keeping alive this leg’s 1312.00 target.

Silver Jul Contract (SI, ETF: (SLV))
Tuesday’s fluctuation didn’t threaten reversing momentum down, which keeps alive the 17.60 target of this upleg.

30-year Treasury Sep Contract (US, ETF: (TLT))
Breaking above 168-00 Friday had signaled a new upleg underway, which was confirmed by not rejecting it Monday. Attacking 170-00 Tuesday must now hold 169-00 on pullbacks to maintain upward momentum next targeting 171-24.

Crude Oil Jul Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Monday’s intraday bounce testing 49.00 was extended down overnight to fresh lows attacking 48.00. The session’s “ineffectual optimism” avoided fresh lows without any reward, so the decline should accelerate without delay if its momentum remains intact.

Natural Gas Jul Contract (NG, ETF: (UNG, UNL))
Still inhibited by the lack of any recent pullback, dipping prior to Tuesday’s open reveals the rally’s risk in trying to extend higher without a correction.