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))
The Employment Situation report triggered a modest gap up that probed above 1.1255 but didn’t extend higher intraday. This threatens the outstanding deeper corrective dip potential, but only if confirmed by a second consecutive higher close Monday.

Gold Aug Contract (GC, ETF: (GLD))
Reaction to Friday’s Employment Situation report triggered a surge that filled the gap back to Wednesday’s 1275.00 close as was required. The test extended higher to attack 1282.00, which was not required. The failed Ascending Triangle pattern can’t afford any further hesitation to resolve down under 1268.50, instead of extending to 1296.00.

Silver Jul Contract (SI, ETF: (SLV))
Gapping back up Friday filled the gap from Wednesday’s close, although that wasn’t necessary. Not reversing down immediately through Monday’s close could instead extend higher to 17.90.

30-year Treasury Sep Contract (US, ETF: (TLT))
Having rested Thursday, Friday was required to resume the rally still targeting 154-02. It was probed by more than 1 point, closing higher. No unfinished business above remains outstanding, but this is not a topping pattern capable of anything more bearish than a corrective dip.

Crude Oil Jul Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Thursday bounce to “kiss” Wednesday’s 48.20 sell signal resolved down overnight to 46.75, but mostly firmed intraday. The three-day sequence creates a setup that could form a durable bottom if a fresh low on Monday were to close positive.

Natural Gas Jul Contract (NG, ETF: (UNG, UNL))
Already having fulfilled the third lower close required by Tuesday’s confirmed breakout, Friday only ranged narrowly at lows. The pattern is still not forming a bottom, or any less likely to probe fresh lows.