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 Mar Contract (EC, ETF: (FXE))
Tuesday night”s break lower extended down sharply through Wednesday”s open to quickly fulfill the next lower objective at 1.1125. And that was exceeded to test 1.1075 support. Bounces should hold 1.1125 as resistance to maintain the break”s momentum.

Gold Apr Contract (GC, ETF: (GLD))
Wednesday morning”s slide down to 1198.00 neutralized one attraction below. The other at 1194.00 remains in-play — with potential to 1185.00 — unless 1206.00 is recovered first, and then extended above 1212.00.

Silver May Contract (SI, ETF: (SLV))
Monday night”s probe down to 16.07 was retested Wednesday, and had better be rejected through Thursday to avoid becoming a much deeper break to fresh lows.

30-year Treasury Jun Contract (US, ETF: (TLT))
Fresh lows Wednesday already fulfilled the minimum third lower close that became required by Tuesday confirming Monday”s break. But the decline”s momentum remains intact so long as 158-12 isn”t recovered.

Crude Oil Apr Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Wednesday”s choppiness ultimately resolved up. Having probed 51.25, there should be very little delay either to extending sharply higher through 52.65, or else to reacting down sharply back to prior lows.

Natural Gas Apr Contract (NG, ETF: (UNG, UNL))
Wednedsay”s bounce tested the 2.77 buy signal, but didn”t trigger it. That”s as strong of a position to greet Thursday”s EIA report, as it would have been to reject Sunday night”s fresh lows by already triggering the buy signal.