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))
Gapping up Friday extended higher through the morning to test 1.1900. A bigger rally to fresh highs at 1.1915 and potentially 1.1970 is now likely underway, albeit still vulnerable to reversing back down to the recent lows.

Gold Dec Contract (GC, ETF: (GLD))
A wild Friday morning first spiked up, then plunged to a fresh low under 1284.00, and spiked back up again to 1298.00. Extending higher Monday would be credible for retesting the high and higher. Otherwise, launching a downleg has little excuse for further delay.

Silver Sep Contract (SI, ETF: (SLV))
Another probe under 16.90 was triggered among Jackson Hole headlines. It originated from an early morning bounce above 17.05, and recovered back to it after testing 16.70. This gives the pattern an opportunity to rally if Monday were to extend higher, but without delay since 17.05 still isn’t recovered.

30-year Treasury Sep Contract (US, ETF: (TLT))
Friday’s initial dip held just under 156-00 before snapping back up to fresh highs at 156-24. Having failed to confirm Wednesday’s breakout, closing higher Friday would signal a much larger rally leg underway.

Crude Oil Oct Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Bouncing Friday morning back up to the 47.95 sell signal still keeps alive the potential for resolving down, but also limits the time available to sellers for retaking control.

Natural Gas Oct Contract (NG, ETF: (UNG, UNL))
Thursday’s failed bounce above 2.95 had warned already that another downleg was forming, especially having failed to exploit the otherwise bullish influence of the Guld of Mexico hurricane bearing down. Friday’s dip back down under 2.91 and lower puts into play 2.81 where a better bottom can still form..