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 Sep Contract (EC, ETF: (FXE, UUP))
Gapping up Thursday no the way to fulfilling 1.1220 without closing above it didn”t prevent extending higher overnight and gapping up Friday to test the next higher objective at 1.1360-1.1385 intraday. .

Gold Dec Contract (GC, ETF: (GLD))
Extending higher Thursday night attacked the next higher target at 1169.00 to within almost $1. Intraday highs held 1158.00 resistance.

Silver Sep Contract (SI, ETF: (SLV))
The underperformance vs. Gold became more obvious Friday as an overnight probe above last week”s highs was reversed back down into negative territory for the duration of the session. Back above 15.45 would start to signal that Silver intended to play “catch-up.”

30-year Treasury Sep Contract (US, ETF: (TLT))
Overnight highs retested 160-20 but dipped back into negative territory during Friday”s open. That was recovered into Friday afternoon in a flight-to-quality. The second consecutive higher close above a multi-session range now requires there to be a third higher close, albeit not necessarily consecutively on Monday.

Crude Oil Oct Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
The decline extended, still not at any new pace other than to have begun sliding from its recent multi-range consolidation. While Wednesday”s confirmed breakout is now fulfilled by a minimum third lower close, the energy market doesn”t tend to end trends on Fridays. So, at least a lower intraday low is likely, and meanwhile the potential to 37.55 remains intact.

Natural Gas Aug Contract (NG, ETF: (UNG, UNL))
The confirmed breakout”s third lower close was finally produced Friday. But a lower low is likely since this market doesn”t tend to bottom on Fridays.