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))
Piercing the 1.1650 sell signal overnight held through Wednesday morning ahead of the afternoon’s FOMC policy statement. Its reaction surged back up to Tuesday morning’s high, likely also t test 1.1755.

Gold Aug Contract (GC, ETF: (GLD))
The pullback extended overnight to test the rally’s prior objective of 1244.00 as support ahead of the afternoon’s FOMC policy statement. The reaction rallied back into positive territory at 1255.50, still targeting 1259.70.

Silver Sep Contract (SI, ETF: (SLV))
A relatively shallow pullback overnight produced a gap down that ranged sideways throughout Wednesday’s session. Reaction to the FOMC policy statement surged back toward the week’s 16.60 high, still targeting 16.70.

30-year Treasury Sep Contract (US, ETF: (TLT))
Probing slightly lower overnight was extended deeper Wednesday morning. Repeating Tuesday’s deep drop was avoided, which can be bullish for the long bond’s behavior following a single session’s steep move. But the afternoon’s FOMC policy statement was not greeted from a position of strength, other than to have expended a lot of selling pressure very recently.

Crude Oil Sep Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Fluctuating around 48.25 overnight allowed a favorable reaction on Wednesday morning’s EIA report to attack 48.90. Its reaction down into negative territory filled the gap back to Monday’s 47.90 close and bounced back above 48.25.

Natural Gas Aug Contract (NG, ETF: (UNG, UNL))
An overnight probe above the 2.95 buy signal was reversed to gap down Wednesday. Extending down through the morning filled the gap back down to Monday’s 2.89. Thursday’s EIA report is not being greeted from a position of strength, except for there being no unfinished business below.