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))
Thursday’s bounce extended overnight just enough to actually test Wednesday’s 1.1305 close, whose gap wasn’t quite filled. There not being an immediate reaction keeps the door open to a bigger bounce is underway, targeting the prior week’s high close at 1.1400

Gold Aug Contract (GC, ETF: (GLD))
Thursday’s post-close drop had extended down overnight to test “lower prior highs” and 1281.00 pullback limit. The gap back up to Thursday’s 1308.50 open and the rally’s 1312.00 target should be retested.

Silver Jul Contract (SI, ETF: (SLV))
Gapping down and sliding Friday post-open is nevertheless likely to retest Thursday’s 17.80 gap up before a durable top can form.

30-year Treasury Sep Contract (US, ETF: (TLT))
Extending the pullback Friday morning tested the pullback limit at 169-00. Back above 170-16 would target 171-22.

Crude Oil Jul Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Gapping up and firming Friday was not surprising since Thursday had fulfilled the minimum pullback objective at 47.25. Bounces holding “higher prior lows” around 48.00 maintain the 45.00-45.40 lower objective.

Natural Gas Jul Contract (NG, ETF: (UNG, UNL))
Still no trending attempts, breakouts or pullbacks that suggest the pattern would reverse down sharply if trying to rally beyond its 2.70-2.75 target.