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))
Gapping down to and through 1.0695 Tuesday morning is threatening to form an Island Reversal of Monday’s range. Its reversal down would be only temporary, unless an interim bounce were to probe back into Monday’s range — if not also back above it to at least 1.0765.

Gold Apr Contract (GC, ETF: (GLD))
Fluctuating around unchanged overnight was essentially repeated Tuesday without extending in either direction, leaving alive the potential for a fresh low at 1192.00.

Silver May Contract (SI, ETF: (SLV))
Overnight fluctuation around unchanged was repeated Tuesday morning, and improved to test 17.05, but not necessarily to close above it.

30-year Treasury Jun Contract (US, ETF: (TLT))
Fresh lows overnight down to 145-26 reacted up into and out of the open to test 147-00. Almost any initial strength Wednesday would be credible for extending higher, but almost any delay in extending higher would be likely to retest Tuesday’s low.

Crude Oil Apr Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Gapping down Tuesday probed under the 47.25 target down to 47.09. The gap down reflects a degree of capitulation that may be bullish in the near-term from a contrarian perspective.

Natural Gas Apr Contract (NG, ETF: (UNG, UNL))
Attacking Monday’s highs before Tuesday’s open proved solid resistance, as the balance of the morning trended back down through the 3.00 pullback limit and under the 2.95 sell signal.