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 again Thursday is no less premature for launching a new downleg without first retesting Monday’s 1.0935 gap open, The break under 1.0835 has extended to 1.0725, and back above 1.0765 would signal momentum reversing up.

Gold Apr Contract (GC, ETF: (GLD))
Dipping Thursday probed Friday’s post-close low down to 1244.00, which further neutralized any attraction below that it might have had. Also lacking any upside requirements since already rewarding last week’s confirmed breakout, the pattern is being monitored for a new setup and signal.

Silver May Contract (SI, ETF: (SLV))
Firming Thursday morning touched the “higher prior lows” at 18.30. Reversing to close in negative territory would prevent extending the bounce to probe above 18.55.

30-year Treasury Jun Contract (US, ETF: (TLT))
Still yet to retest Monday’s 151-26 gap up, the 150-24 sell signal was retested Thursday. Its prior test has chipped away at its support to allow its break to be credible, albeit not yet optimal.

Crude Oil May Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Already probing slightly higher overnight, the 48.50 signal and its 49.30 confirmation were probed Thursday to test 50.45, likely forming a bottom. Its recovery should test at least 53.55.

Natural Gas May Contract (NG, ETF: (UNG, UNL))
The knee-jerk reaction to Thursday’s EIA report touched the 3.14 sell signal and bounced as expected to fill the gap at Wednesday’s 3.23 open. Any close under Thursday’s low would now be credible for reversing the trend down.