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))
.Narrow ranging Wednesday morning waited out the afternoon’s FOMC Minutes. Its reaction spiked back up to Tuesday’s high. Still monitoring the pattern for new parameters.

Gold Aug Contract (GC, ETF: (GLD))
Gapping down Wednesday to 1348.00 rejected Tuesday ‘s close above the 1352.50 bounce limit. Little follow-through preceded the FOMC Minutes. A blip-down to 1340.50 reacted sharply to fill the gap back up to Tuesday’s 1355.00 close. The 1332.00 objective remains outstanding, and would be put back in play under 1348.00.

Silver Sep Contract (SI, ETF: (SLV))
Wednesday’s open gapped down although the overnight lows had already tested the pullback’s 19.65 minimum objective. Retesting it intraday was followed by a blip-down to 19.37 in reaction to the FOMC Minutes. Its recovery back up to 19.80 was still under Tuesday’s close, so not credible for reversing momentum up.

30-year Treasury Sep Contract (US, ETF: (TLT))
Tuesday’s lower lows didn’t extend down Wednesday morning. Avoiding a second consecutive lower close Wednesday allows another rally attempt. The reaction to FOMC Minutes barely managed to test 171-26 resistance, whose recovery is the minimum to start anticipating another rally effort.

Crude Oil Sep Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Barely nicking the lower-end of the 46.80-47.60 bounce target Wednesday had already reacted down intraday, but not deeply enough or aggressively enough to suggest momentum is yet reversing down.

Natural Gas Sep Contract (NG, ETF: (UNG, UNL))
Probing a couple of cents above the current trading range’s 2.63 highs failed to extend higher, and was retraced back into the range. Closing there, with the recent gap outstanding below, would greet Thursday’s EIA report from a position of weakness likely to react down on the news.