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 Jun Contract (EC, ETF: (FXE, UUP))
Surging in reaction to Thursday’s ECB events went out testing the 1.0585 bounce limit. Surging Friday in reaction to payrolls probed fresh highs up to 1.0687, levels not seen in four weeks. A pullback has room down to 1.0625 before signaling the decline has resumed.

Gold Apr Contract (GC, ETF: (GLD))
Fresh lows overnight under the 1198.00 objective probed down to 1194.50 and still had potential to 1192.00. But reaction to Friday’s payrolls triggered a surge to 1206.00. The session still ranged in negative territory back down to 1198.00, still having potential to 1192.00.

Silver May Contract (SI, ETF: (SLV))
Probing overnight deeper under the 17.05 objective that was met Thursday did react up sharply to Friday’s payrolls report. But the blip-up into positive territory at 17.10 was reversed back down to fresh intraday lows testing 16.90, still a nickel off the overnight lows.

30-year Treasury Jun Contract (US, ETF: (TLT))
Choppy reaction to Friday’s payrolls report probed lower lows down to 146-13 while also bouncing briefly back into positive territory, suggesting this segment of the decline is waning.

Crude Oil Apr Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
The bounce from Thursday’s attack on the 48.55 target peaked upon testing the 50.00 bounce limit overnight and reversed back down entirely to fresh lows at 48.31. Closing above 48.55 doesn’t prevent extending to the next target at 47.25, but it does suggest the decline’s momentum is waning.

Natural Gas Apr Contract (NG, ETF: (UNG, UNL))
Probing even higher Friday threatened to essentially confirm Thursday’s breakout-type action above Tuesday and Thursday’s prior highs. The rally can extend to 3.15 unless a break under 2.90 were to signal the trend reversing back down.