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))
Gapping up Thursday must close higher to make fresh highs likely Friday. There is otherwise a vulnerability to reversing back down into the weekend.

Gold Apr Contract (GC, ETF: (GLD))
Gaping up to fresh highs at 1227.50 was reversed back down to test the 1218.00 buy signal Thursday as support. Regardless of its resolution, the gap up will want to be revisited.

Silver Mar Contract (SI, ETF: (SLV))
Gapping up Thursday through 17.63 was retraced to almost fill the gap back down to Wednesday’s close. Regardless of the pattern’s resolution, the gap up will want to be revisited.

30-year Treasury Mar Contract (US, ETF: (TLT))
Gapping up to test the 151-11 maximum bounce limit Thursday was retraced to almost fill the gap back down to Wednesday’s 150-14 close. The decline has no excuse not to resume into the weekend, unless it isn’t going to resume, at all.

Crude Oil Mar Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Wednesday’s close above 53.50 was extended Thursday morning to test 54.25 resistance. Its reaction down is trying to hold 53.50, whose break through the close would essentially reverse momentum back down.

Natural Gas Mar Contract (NG, ETF: (UNG, UNL))
Gapping down Thursday to Tuesday’s 3.12 close was reversed back up in reaction to the EIA report. Its complete retracement is not bearish, but neither does it yet qualify for completing a bottom.