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))
Friday’s spike up to 1.1989 on the Employment Situation report fulfilled the 61.8% retracement of the drop from Tuesday’s high to Thursday morning’s low. It was retraced entirely and then reversed down much closer to Thursday’s low, near the 1.1854 pullback limit that keeps the door open to rallying out of the weekend.

Gold Dec Contract (GC, ETF: (GLD))
The favorable reaction to Friday’s Employment Situation report quickly probed above Tuesday night’s 1332.00 high whose near-term retest had been signaled Thursday. Its reaction down to 1321.00 held as support, avoiding a close under 1318.50 that would signal momentum reversing down.

Silver Dec Contract (SI, ETF: (SLV))
Friday’s open spiked up to pierce Tuesday night’s 17.75 high. Its reaction down was recovered and extended slightly to suggest the 17.90 target remains in-play.

30-year Treasury Dec Contract (US, ETF: (TLT))
Slightly lower lows fulfilled the 155-04 pullback objective down to 154-30. Holding 155-04 through the close allows a near0term retest of Tuesday night’s 156-28 high.

Crude Oil Oct Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Thursday’s recovery from having attacked the 45.50 target overnight was not extended Friday, which undermines the recovery attempt’s sponsorship. But its initial dip did hold. Closing under 46.50 is still necessary to confirm the decline’s momentum remains intact.

Natural Gas Oct Contract (NG, ETF: (UNG, UNL))
Flat-to-lower overnight resolved soon after Friday’s open in a surge through Thursday’s 3.04 high to fresh highs attacking 3.10. The second consecutive higher close confirms a breakout, suggesting the bottoming pattern we’ve been monitoring is now resolving.