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))
Chipping away at the 1.1225 sell signal was finally exploited Friday, and with a vengeance, as the opens’ gap down to 1.1225 extended sharply lower intraday to test 1.1150. A second consecutive lower close Monday would then require at least an eventual third lower close.

Gold Dec Contract (GC, ETF: (GLD))
Thursday’s bounce from testing 1212.00 support was retraced into Friday’s open, and eked lower during the day to eventually attack 1309.00. The 1296.00-1297.00 target is in-play.

Silver Dec Contract (SI, ETF: (SLV))
Initially holding the multi-session range Friday morning eventually probed fresh relative lows, needing a second consecutive lower close Monday to confirm the prior low’s retest is likely underway.

30-year Treasury Dec Contract (US, ETF: (TLT))
Having held a retest of Tuesday’s low Thursday, the overnight probe above the 165-20 bounce limit was maintained through Friday morning. Its recovery through the close signals a bottom having formed and probably also momentum reversing up, still needing confirmation from a second consecutive higher close.

Crude Oil Oct Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Thursday’s attempt at forming a Pivot Reversal still needed Friday’s open to gap up, which it did not, which essentially confirmed the outstanding gap and fresh lows down to 42.25 remains in-play — which Friday’s fresh lows have now attacked to within 50 cents.

Natural Gas Oct Contract (NG, ETF: (UNG, UNL))
Friday’s initial weakness was recovered to probe back above Thursday’s high, itself being the recovery of initially dipping ahead of the EIA report. A second consecutive higher close isn’t so much a buy signal at this stage of the pattern, as it is confirmation the uptrend targeting 3.04 remains intact. But it is also a breakout of the recent range.