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))
Gaping up Friday wasn’t likely to extend, but it did fill the gap outstanding above and neutralize its attraction. Yellen’s flurry of headlines triggered a steep reaction down to fresh lows for the week, another breakout attempt that would be confirmed by a second consecutive lower close on Monday.

Gold Aug Contract (GC, ETF: (GLD))
Friday’s gap up tried to form an Island of Thursday’s range. But that was doomed since Thursday’s lower close had confirmed Wednesday’s breakout. The gap back up to Tuesday’s 1346.50 close was filled to within 50 cents and reversed down into negative territory under 1324.00. An eventual third lower close remains outstanding.

Silver Sep Contract (SI, ETF: (SLV))
Friday’s gap up extended sharply higher and back down again amid Yellen’s headlines. Negative territory was never probed, let alone a negative close, although an eventual third lower close remains outstanding.

30-year Treasury Sep Contract (US, ETF: (TLT))
Wide swings reacted to Friday’s Yellen headlines, first probing under 171-22 to 171-06. Spiking up attacked 173-04 to within 1 tick before reversing down again to retest 171-06..

Crude Oil Oct Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Friday’s rally tested the last relative high above 48.35, which must be recovered to put into play fresh highs. Otherwise, so long as its resistance holds, the Descending Triangle now supported at 46.60 continues to develop, .

Natural Gas Sep Contract (NG, ETF: (UNG, UNL))
Room for a pullback to 2.79 wasn’t fully utilized by Friday’s shallow gap down. Reversing up extended to fresh highs. Since Thursday had already fulfilled the minimum requirement created by Tuesday’s confirmed breakout, extending higher immediately anyway suggests the rally will extend, presumably to fill the gap outstanding above at 2.98.