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 Mar Contract (EC, ETF: (FXE, UUP))
The post-close surge that exceeded Wednesday”s already sizable reaction to FOMC was retraced entirely overnight, along with the FOMC reaction. Opening back at what had been 1.0650 resistance and fluctuating around could extend lower to 1.0590 and 1.0445.

Gold Apr Contract (GC, ETF: (GLD))
Wednesday”s post-close surge to 1177.00 was retraced back down to test 1161.00, which held as support to signal a breakout now targeting 1197.00.

Silver May Contract (SI, ETF: (SLV))
Wednesday”s post-close surge was conslidated overnight, but not reversed back down Thursday. In fact, it extended higher to close at 16.10 resistance, putting into play potential to 17.25.

30-year Treasury Jun Contract (US, ETF: (TLT))
Fresh highs overnight up to 164-07 were retraced intraday to test 163-00 support, having potential down to 161-28 before suggesting the trend may be reversing down. Sell signals aren”t triggered the same day as new highs are printed.

Crude Oil May Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
.Wednesday”s late surge through its 46.60 buy signal was already suspicious, and more so after initially extending slightly higher to test 47.45 was retraced enough to wipe out Wednesday”s gains. Thursday essentially ranged around Tuesday”s close, likely to resume the decline so long as 46.60 isn”t recovered again.

Natural Gas Apr Contract (NG, ETF: (UNG, UNL))
The negative reaction to Thursday”s EIA held 2.77 support, so that closing back above 2.84 should launch a new upleg. Meanwhile, there continues to be room for gapping and filling back to support if a base is forming.