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 “inside day” held above the 1.0725 buy signal that was recovered Tuesday. But it does not confirm Tuesday’s recovery. Nevertheless, reinstating the 1.0550 target requires closing back under 1.0690.

Gold Jun Contract (GC, ETF: (GLD))
Gapping down Wednesday under the 1290.70 pullback limit extended down sharply to 1275.40, filling the gap back to last Thursday’s close. Reacting up from filling the gap doesn’t necessarily resume the rally, which already has tested and held its 1294.00 target — twice.

Silver May Contract (SI, ETF: (SLV))
Ranging exclusively in negative territory Wednesday was an “inside day,” holding above Tuesday’s dip to 18.05, but not recovering 18.30 to launch a fresh high.

30-year Treasury Jun Contract (US, ETF: (TLT))
Gapping down Wednesday and trading weaker intraday was an “inside day.” The gap back to Wednesday’s close should be filled at some point, and any further reaction down before then would be likely to recover.

Crude Oil May Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Trending down almost relentlessly Wednesday fulfilled the 50.65 target. Holding its test through Thursday’s close would still be vulnerable to extending down deeper. Trying to recover too quickly and aggressively Thursday would suggest that a deeper drop is being refueled.

Natural Gas May Contract (NG, ETF: (UNG, UNL))
Ranging choppily and relatively narrowly Wednesday above the 3.13 sell signal isn’t necessarily greeting Thursday’s EIA report from a position of strength. But an initially favorable knee-jerk reaction could still test 3.27 before resolving down.