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))
Probing above Thursday’s highs widened the distance back down to the 1.0765 sell signal that would trigger a substantial reversal down, and possibly extend to new relative lows.

Gold Apr Contract (GC, ETF: (GLD))
Friday’s ranging between persisted between 1225.00-1232.50. This avoided confirming Thursday as a breakout, and keeps open the door to testing “lower prior highs” so that a durable bottom can finish forming.

Silver May Contract (SI, ETF: (SLV))
Thursday’s reaction down from 17.50 didn’t extend during Friday’s inside day, which makes the next higher objective at 17.90 unlikely to be met before “lower prior highs” are tested as support.

30-year Treasury Jun Contract (US, ETF: (TLT))
Thursday’s test of the 148-20 bounce target had held its 147-24 pullback limit, which allowed Friday to bounce and  retest 148-20. Closing any higher would suggest the correction was extending to the 150-04 area.

Crude Oil Apr Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Friday was the third consecutive session of fluctuating narrowly around Wednesday’s gap up. Not yet extending any higher before filling the gap back down to Tuesday’s Island would likely form a durable bottom. Otherwise, extending higher first would next target 50.00 before being forced to fresh lows.

Natural Gas Apr Contract (NG, ETF: (UNG, UNL))
Thursday’s second non-consecutive break back under the 2.95 sell signal didn’t extend down again Friday. But neither was 3.00 recovered, maintaining the distributive pattern.