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))
Shallow overnight lows held “lower prior highs” at 1.1860 before firming into Thursday morning, still having room up to 1.1945-1.1970.

Gold Dec Contract (GC, ETF: (GLD))
Launching the gap fill back to Tuesday’s close from testing 1271.00 support had indicated the gap’s test would react down to 1261.00-1262.00. The 1269.70 gap’s test reacted down Wednesday night to 1263.00, bouncing back above 1271.00, short of its lower objective, which is still in-play.

Silver Sep Contract (SI, ETF: (SLV))
Wednesday’s gap down to 16.45 had recovered to fill the gap back up to Tuesday’s 16.78 close. But simply launching the gap fill from 16.60 had indicated the gap would hold. Its reaction down overnight retested 16.45 but bounced back above 16.60 through the morning.

30-year Treasury Sep Contract (US, ETF: (TLT))
Gapping up didn’t extend higher Thursday, but that sufficed to fulfill the confirmed breakout’s requirement for at least one more higher close. More is likely to come, since the session held at or under the prior high, likely at least to probe higher.

Crude Oil Sep Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Firming Thursday morning back toward 50.10 has no requirement to resolve in either direction, and the trend remains up with higher highs and higher lows. But not closing above 50.10 keeps alive potential to close under 48.25 and launch a new downleg.

Natural Gas Sep Contract (NG, ETF: (UNG, UNL))
Thursday’s EIA report wasn’t being greeted from a position of strength, regardless of having firmed into it. Its reaction dipped back down into the range, still likely to retest the low even in the most bullish scenario.