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))
Weaker on its own data and in sympathy with the Pound’s gap down, Friday’s lower close confirmed Thursday’s breakout, next targeting 1.1111 and 1.1095.

Gold Aug Contract (GC, ETF: (GLD))
Gapping down Friday to 1277.00 extended more than $10 lower to test the 1269.50 level whose break would signal a more substantial downleg underway. Closing back above 1277.00 would otherwise launch a recovery.

Silver Jul Contract (SI, ETF: (SLV))
Sharply lower lows overnight gapped down Friday to Thursday’s 17.28 low and extended lower to 17.15. Closing back above 17.35 would signal the decline had ended and momentum is reversing up. There’s still room down to 17.05 before signaling a more substantial downleg underway.

30-year Treasury Sep Contract (US, ETF: (TLT))
The 154-24 bounce limit was tested at Thursday night’s high before reversing back down to fresh lows Friday morning. Rejecting an intraday bounce is always optimal, so holding the 153-29 sell signal through Friday’s close makes a bigger bounce likely.

Crude Oil Jul Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Thursday’s fresh low wasn’t rejected Friday, and instead held 46.20 whose recovery would have launched an intraday rally. The delay now requires either surging early Monday, or else recovering from an intraday probe of fresh lows.

Natural Gas Jul Contract (NG, ETF: (UNG, UNL))
Friday’s narrow ranging avoided closing above 3.09 where a recovery could be signaled. Much further delay than Monday morning would be likely at least to probe fresh lows before bottoming.