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))
Breaking lower Wednesday probed uptrending pivotal support and its parallel uptrend line off the low, still needing a second consecutive lower close to confirm 1.0470 is in-play.

Gold Apr Contract (GC, ETF: (GLD))
Already slipping yesterday under the 1218.00 target, Wednesday extended down to the 1209.00 objective. Its second consecutive lower close under a multi-session range requires at least an eventual third lower close. Also, the next lower objective is 1198.00-1199.00.

Silver May Contract (SI, ETF: (SLV))
Probing Wednesday under the .17.55 target that was met at Tuesday’s lows has essentially put into play 17.05. A second consecutive lower close also puts into play at least an eventual third lower close

30-year Treasury Jun Contract (US, ETF: (TLT))
Tuesday’s narrow ranging at the week’s lows all but required extending the decline aggressively without delay, which Wednesday’s gap down did. Bounces must now hold 148-04 to maintain the next lower objective under January’s lows.

Crude Oil Apr Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Wednesday’s gap down rejected Tuesday’s retest of the 53.58 sell signal as resistance. This was despite having neutralized the attraction below by filling the gap back at Monday’s close. Extending down anyway suggests sellers are strong-handed, and next targeting 48.55 and 46.25.

Natural Gas Apr Contract (NG, ETF: (UNG, UNL))
Tuesday’s gap down into the 2.83-2.86 sell signal may have been only a warning shot, as Wednesday’s open gapped up into Monday’s range. The gap back up to Monday’s close was filled back up to 2.90 and extended higher intraday to Monday’s 2.95 high, neutralizing its attraction above. Thursday’s EIA report isn’t being greeted from the position of strength that is otherwise suggested by sitting at recent highs.