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))
Not yet exploiting the failed breakout Monday suggested the gap back to Thursday’s close would be filled before another downdraft could be credible. Tuesday’s gap up didn’t extend, and only ranged narrowly sideways.

Gold Aug Contract (GC, ETF: (GLD))
Reversing back down after Tuesday to fulfill the 1329.00-1332.00 target area cannot be relied upon to recover, since Tuesday filled the gap back up to Friday’s close. Having neutralized its attraction above through the close, a break lower can extend down.

Silver Sep Contract (SI, ETF: (SLV))
Firming at Tuesday’s open helped to confirm Monday’s touch of the 18.75-18.85 target area’s upper-end was relevant. Firming only slightly at Tuesday’s open suggested the target area’s lower-end would be tested, too.

30-year Treasury Sep Contract (US, ETF: (TLT))
Pulling back overnight to 171-22 before opening back at the 172-16 buy signal made its breakout more credible. Its attempt attacked 173-04 resistance before dipping back down to 172-16 as support. Closing back under 171-22 would put into play fresh lows.

Crude Oil Oct Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Extending down overnight increased the potential for a second consecutive lower close Tuesday, which would confirm Monday’s break back under 47.45 had reversed momentum down. Headlines triggered a surge back up to 48.00 resistance — not necessarily confirming Monday’s break, but not rejecting it, either.

Natural Gas Sep Contract (NG, ETF: (UNG, UNL))
Monday’s unlikely gap up to retest 2.70 resistance was followed the less likely extension higher overnight. Trending up Tuesday tested 2.75, which puts into play filling the gap back up to 2.98 — assuming no reversal down Wednesday.