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))
Wednesday’s late blip-down to a fresh low didn’t quickly prove itself Thursday to have been a false break. The range’s lower-end was still tested, instead of at least probing back above 1.0725.

Gold Jun Contract (GC, ETF: (GLD))
Thursday morning retraced only some of Wednesday’s post-close surge back above 1252.00, the confirmed buy signal that had been broken intraday.

Silver May Contract (SI, ETF: (SLV))
Recovering after Wednesday’s close to probe back above 18.30 was retraced shallowly overnight, and Thursday hesitated in resuming the recovery.

30-year Treasury Jun Contract (US, ETF: (TLT))
Wednesday’s reaction to FOMC Minutes had surged back up to the rally’s original 152-02 target, but reacted down overnight. Initially firming Thursday morning also reacted down, attacking the 151-12 sell signal that had been thoroughly tested Wednesday. .

Crude Oil May Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Only a slightly lower low overnight tried to extend Wednesday’s negative reaction to the EIA report. Thursday’s open gapped up within Wednesday’s range, but rallied only to fill the gap back up to Wednesday’s open. That’s ineffectual optimism, and can’t afford to delay extending higher if a deeper corrective dip will be avoided.

Natural Gas May Contract (NG, ETF: (UNG, UNL))
Thursday’s EIA report was greeted from a position of strength, already closing above prior highs. Fresh highs intraday rewarded that strength, but the pattern still isn’t tracking a template that can forecast the pattern’s resolution.