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 Friday from 1.0680 and extending lower to attack 1.0605 helped to suggest that Thursday’s break above 1.0605 was only a excessive corrective bounce. But confirmation is still needed from actually closing under 1.0605. Meanwhile, backing-and-filling up to 1.0680 is possible.

Gold Apr Contract (GC, ETF: (GLD))
Friday’s shallow gap up to 1245.00 didn’t extend as the session fluctuated around the 1242.00 bounce target that was met Thursday. Thursday’s close above prior highs wasn’t confirmed as a breakout, so extending up to 1259.00 is not assured.

Silver Mar Contract (SI, ETF: (SLV))
Flat-to-lower on Friday didn’t reject the upside potential still targeting 18.18, which remains intact.

30-year Treasury Mar Contract (US, ETF: (TLT))
Rallying overnight filled the week-old gap up to 151-28 before reversing back down to the 151-11 bounce limit. Not already resuming the decline by Tuesday’s open would suggest a bigger bounce underway.

Crude Oil Mar Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
The 52.55-53.55 continued to define the range Friday, the lower-end of which for more than a week has essentially been better represented by 52.75. The eventual breakout’s direction remains unreliable.

Natural Gas Mar Contract (NG, ETF: (UNG, UNL))
Thursday’s reaction down from EIA extended to fresh lows Friday attacking  2.82. Closing back above 2.93 is still the minimum requirement to reverse momentum up.