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 narrow ranging didn’t reassert the uptrend, which price action through Tuesday had suggested was topping and at least ready to correct back down.

Gold Jun Contract (GC, ETF: (GLD))
Tuesday’s post-close dip to 1252.00 was probed overnight but then retested Wednesday morning. Closing under would confirm the bounce is not extending higher.

Silver Jul Contract (SI, ETF: (SLV))
After failing to confirm Monday’s breakout attempt, Tuesday night’s dip filled the gap back down to last Wednesday’s Island. It was largely recovered before the open, but not reversed up, leaving no signal.

30-year Treasury Jun Contract (US, ETF: (TLT))
With little excuse to further delay resuming the rally to 155-13, Wednesday’s initial dip to the range’s lower-end could have been defensive posturing ahead of the afternoon’s FOMC minutes release. The reaction didn’t extend up, so the patern still needs positive close to at least confirm the basing intends to resolve up.

Crude Oil Jun Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Tuesday’s close ultimately did fulfill the confirmed breakout’s minimum requirement for at least one fresh high close. That greeted Wednesday’s EIA from a position of strength, which reacted up to a fresh high at 51.88. The gain was retraced through the close, suggesting the upside momentum had lapsed.

Natural Gas Jun Contract (NG, ETF: (UNG, UNL))
Wednesday’s immediate break under 3.21 was recovered to avoid confirming the target at 3.11 and lower is again underway.