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 down Wednesday to a fresh low would have suggested the 1.0570 target met Tuesday will next target 1.0470. But bouncing back into positive territory tested the 1.0605 bounce limit. A new low close Thursday would avoid forming a bottom.

Gold Apr Contract (GC, ETF: (GLD))
Probing relatively lower to 1217.50 was recovered Wednesday to once again probe above 1229.00-1230.00, this time to test 1234.00, potentially launching a retest of 1242.00 above, and possibly also extend to 1259.00.

Silver Mar Contract (SI, ETF: (SLV))
Shallow overnight weakness was holding prior lows at Wednesday’s open, keeping enough of the upside momentum intact to at least attack 18.18, still targeting 18.18.

30-year Treasury Mar Contract (US, ETF: (TLT))
Extending down sharply Wednesday morning to fresh lows at 149-16 all but ensures that the originally sealed top is back in-play, following the brief but substantial detour.

Crude Oil Mar Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Gapping down slightly didn’t greet Wednesday’s EIA report from a position of strength or weakness, still being in the middle of an ongoing range that has no consistent indications of accumulation or distribution.

Natural Gas Mar Contract (NG, ETF: (UNG, UNL))
Rallying sharply overnight suggests the 2.91 target finally met Tuesday did satisfy all remaining relevant selling pressure. But gapping up was not the appropriate start to a recovery. Thursday’s EIA report is being greeted from a position of strength, although an initially negative knee-jerk reaction down can’t be discounted.