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))
Trending up sharply overnight opened Thursday above two-week old highs, despite Sunday night’s high already filling its gap. Reacting back down to “lower prior highs” now allows a top to form after filling the gap back up to Thursday’s opening open 1.4315, or to extend higher without leaving outstanding any unfinished business below.

Gold Aug Contract (GC, ETF: (GLD))
Wednesday’s close wasn’t already recovering above Monday’s 1278.00 high, and Thursday’s open wasn’t gapping up above 1281.00 by proxy, so fresh lows were probed through Thursday morning. Having touched 1260.00, closing above 1272.50 would start to signal the drop was ending.

Silver Jul Contract (SI, ETF: (SLV))
Still didn’t probe the lower-end of its range Thursday, but neither did it recovery, still suggesting the Gold pullback isn’t going to gain traction.

30-year Treasury Sep Contract (US, ETF: (TLT))
Wednesday’s close wasn’t already recovering above Monday’s 168-12 high, and Thursday’s open wasn’t gapping up by proxy above 169-00, so fresh lows were probed through Thursday morning attacking 166-00. A recovery attempt at this stage wouldn’t be credible before probing into the 165-16/165-30 range.

Crude Oil Aug Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Wednesday’s test of the 48.75 sell signal had recovered to close at or above 49.00. Gapping up Thursday was held by resistance at 50.00 in positive territory without trending up, so the sell signal remains alive.

Natural Gas Aug Contract (NG, ETF: (UNG, UNL))
Thursday’s reaction down after EIA was much shallower than the room allowed, only testing “lower prior highs” of the recent narrow consolidation at 2.61 before bouncing back into positive territory above Wednesday’s 2.68 close. Closing under 2.60 would still target 2.47-2.51.