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 Wednesday to test 1.1205 was not extended higher, and its consolidation was supported by 1.1180 whose break would signal momentum reversing down.

Gold Aug Contract (GC, ETF: (GLD))
Gapping up Wednesday to 1363.50 was unable to overcome the attraction to “unfinished business below” to at least retest Tuesday’s opening gap down, so the morning trended back down to 1348.50. The reaction down remains intact so long as bounces hold 1353.00 as resistance.

Silver Sep Contract (SI, ETF: (SLV))
Wednesday’s gap up to test 20.50 was reversed back down to 20.15. Extending back under 20.05 would signal the gap back down to Tuesday’s 19.63 open is in-play .

30-year Treasury Sep Contract (US, ETF: (TLT))
Tuesday’s recovery up to 172-26 resistance extended immediately Wednesday through its 173-04 confirmation on the way to attacking 174-00. The 176-10 objective is in-play.

Crude Oil Sep Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Re-touching 43.35 resistance Wednesday morning was reversed back down to a fresh relative low testing 42.00 as support. Closing any lower would resume the decline targeting fresh lows at 36.60.

Natural Gas Sep Contract (NG, ETF: (UNG, UNL))
The decline didn’t slow Wednesday, quickly breaking under last month’s 2.60 low and extending down another nickel. Thursday’s EIA report is not being greeted from a position of strength, so an initially favorable knee-jerk reaction up would be likely to fail.