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))
Thursday wasn’t at all assured of extending the trend like Wednesday was almost certain to do (and did). Probing slightly higher overnight was retraced to gap down slightly Thursday. Ultimately retracing all of Wednesday’s rally filled the gap back down to Tuesday’s close. Wednesday night’s 1.1188 can be retested if 1.1080 now holds as support.

Gold Jun Contract (GC, ETF: (GLD))
Overnight probing of fresh highs up to 1265.00 was retraced back under 1261.00 support. Closing under 1258.50 now suggests the rally’s momentum has lapsed, if not also that momentum is reversing down.

Silver Jul Contract (SI, ETF: (SLV))
Gapping down Wednesday to 16.75 formed an Island of Tuesday’s range. Extending down attacked the 16.40 sell signal, whose break would target 15.95. The Island would help to trigger a recovery — if it isn’t already preventing Friday from extending down.

30-year Treasury Jun Contract (US, ETF: (TLT))
Probing fresh highs up to 154-13 didn’t extend higher, and instead fluctuated narrowly around Wednesday’s 153-24 close. A pullback has room down to 153-11 or 152-26 while still being likely to resume the rally.

Crude Oil Jun Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Tuesday night’s dip to 48.05 was retested Wednesday night, and Wednesday morning’s recovery up to 49.50 was repeated Thursday morning. Ultimately holding the 48.90-49.30 range was also repeated, as no new signal emerged.

Natural Gas Jun Contract (NG, ETF: (UNG, UNL))
Gapping up slightly ahead of Thursday’s EIA report was reversed back down. The three-day drop didn’t resume as price ranged narrowly around 3.21.