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 down Tuesday under the 1.1175 sell signal that had held a test Monday is also confirmation to the ongoing break that was triggered under 1.1295 and targeting 1.0870-1.0980.

Gold Aug Contract (GC, ETF: (GLD))
Gapping down and trending down intraday fulfilled the outstanding requirement for at least a third lower close, but it didn’t create a bottom that would otherwise suggest the 1296.00-1297.00 target doesn’t remain in-play.

Silver Sep Contract (SI, ETF: (SLV))
Gapping up slightly Tuesday, and spending the entire session in positive territory without extending higher is “ineffectual pessimism,” which suggest the decline’s momentum remains intact. Anyway, at least an eventual third lower close remains outstanding, including a more thorough touch of the decline’s 18.35 target so long as 18.85 isn’t recovered.

30-year Treasury Sep Contract (US, ETF: (TLT))
Closing above 171-22 Monday was of course followed immediately by gapping down Tuesday back under 171-22. Not substantially, and not with any predictive value. But the range continues to behave erratically.

Crude Oil Oct Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Gapping down a little Tuesday eventually extended down to touch 46.60 support, but didn’t yet break under to trigger a new downleg.

Natural Gas Oct Contract (NG, ETF: (UNG, UNL))
Rolling coverage forward to Oct, trading at a 3-cent premium to Sep… Despite having held the 2.88 pullback limit Monday, a deeper pullback Tuesday tested the 2.82 sell signal whose break would suggest a substantial detour from producing the required higher close that remains outstanding.