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))
Rallying overnight and firming post-open tested the 1.1255 bounce limit Wednesday, which must hold to maintain potential for another downleg to the next lower corrective target at 1.10995. Above 1.1285 would start signaling another upleg underway.

Gold Aug Contract (GC, ETF: (GLD))
Gapping up Wednesday instead of extending Tuesday’s gap down all but ensured retesting Friday’s high up to 1277.00-1278.25 before the Ascending Triangle pattern can collapse. Extending higher intraday attacked the bounce target’s lower-end.

Silver Jul Contract (SI, ETF: (SLV))
Tuesday’s out-performance was offset by greeting Wednesday baking-and-filling. Ultimately, the session closed flat, not confirming the rally is intact.

30-year Treasury Sep Contract (US, ETF: (TLT))
[Rolling coverage forward to Sep which trades at a 1-11 discount to Jun] With still no bullish excuse to delay extending the rally effort, Tuesday night’s backing-and-filling was recovered ahead of Wednesday’s open and extended to fresh highs through the morning, still targeting 154-02.

Crude Oil Jul Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Touching both ends of the 49.25 and 49.85 range Tuesday had failed to trigger trending either way. Wednesday’s pre-open slide resolved the delay by gapping down and trending lower through the morning to test 47.75. A second consecutive lower close on Thursday would confirm at least an eventual third lower close outstanding.

Natural Gas Jul Contract (NG, ETF: (UNG, UNL))
Tuesday’s break under 3.30 extended down sharply Wednesday to 3.06, compensating for the delay in finally fulfilling the longstanding objective. Regardless of its degree, the second consecutive lower close from a multi-session range confirms the breakout, and now requires at least one more eventual lower close.