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))
Holding the bearish pattern’s 11255 bounce limit Wednesday resolved by gapping down Thursday, but not deteriorating much intraday despite being free to resume the decline and leave no “unfinished business above.”

Gold Aug Contract (GC, ETF: (GLD))
Sliding overnight and back into the failed Ascending Triangle gapped down $10 to prove the relevance of 1277.00 resistance that was attacked Wednesday to within 2 dimes. Probing a little lower intraday was recovered back above the open, which suggests that filling the gap back up to Wednesday’s 1265.00 close will try to inhibit the pattern’s collapse.

Silver Jul Contract (SI, ETF: (SLV))
Trending down sharply overnight once proved that Wednesday’s intraday recovery had held resistance and neutralized the upside attraction by filling the gap back up to Tuesday’s close. The overnight low held post-open retests that launched an intraday recovery. Friday’s Employment Situation report is being greeted from a position of strength for having a gap outstanding above.

30-year Treasury Sep Contract (US, ETF: (TLT))
Sill no reason to much delay extending higher, although Wednesday’s rally did create some room for constructive backing-and-filling. An overnight dip essentially held “lower prior highs” and recovered back up to the opening print, but no higher intraday as the balance of the session ranged.

Crude Oil Jul Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Back under 48.15 would have resumed the decline. But Thursday’s reaction to the delayed EIA report was more intent to test the 49.25 sell signal as resistance, if not also to fill the gap back up to Tuesday’s 49.65 close. Closing above 49.85 would still be credible foe launching a rally.

Natural Gas Jul Contract (NG, ETF: (UNG, UNL))
Two consecutive sessions of probing sharply lower fresh lows and bouncing shallowly overnight into Thursday’s open didn’t prevent a negative knee-jerk reaction to the EIA report from probing under 3.00. The confirmed breakout’s minimum third lower close requirement is satisfied, but no bottom is forming.