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 Sep Contract (EC, ETF: (FXE, UUP))
Rallying overnight retested the 1.1225 bounce limit that had held intraday. Gapping up to it Friday extended back up to 1.1255 instead of reversing down into a new downleg, which closing back under 1.1225 would now launch.

Gold Aug Contract (GC, ETF: (GLD))
Only reacting down intraday from Thursday’s gap up didn’t prevent rallying overnight to gap up even higher. But the same template applied, even more so being a Friday, for only reacting down intraday. Which it did, but not nearly to any degree that would confirm momentum is reversing down.

Silver Jul Contract (SI, ETF: (SLV))
Only reacting down intraday from Thursday’s gap up didn’t prevent rallying overnight to gap up even higher. But the same template applied, even more so being a Friday, for only reacting down intraday. .

30-year Treasury Sep Contract (US, ETF: (TLT))
No further upside objective or backing-and-filling needed before breaking under 155-28 would be credible for beginning to seal a top, and eventually launching a new downleg. Friday’s narrow ranging doesn’t endorse either resolution.

Crude Oil Aug Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Restrained optimism overnight comported with Thursday’s similar behavior, which improved slightly off Wednesday’s low close and left no gap or other “unfinished business below.” Closing above Thursday’s 43.33 high would target 44.90, and create room for a little backing-and-filling after the weekend to complete a bottom, and potentially greet next weekend in rally mode.

Natural Gas Jul Contract (NG, ETF: (UNG, UNL))
Thursday’s EIA reaction cleared the path for closing above 2.95 to seal a bottom. Friday’s inside day hovered under it, but didn’t trigger it, and didn’t extend the decline.