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))
Extending down Thursday and testing 1.1845 fulfilled minimum consequences for Wednesday’s failure to rally. But Friday’s gap up and intraday rally were premature for launching a durable recovery. Only a retest of the prior week’s 1.2040 gap is likely before turning back down.

Gold Dec Contract (GC, ETF: (GLD))
Testing and retesting the 1334.00 buy signal after Thursday’s close and overnight was retraced into Friday’s open to range flat-to-lower into the weekend.

Silver Dec Contract (SI, ETF: (SLV))
Another test of 17.70 Friday helps a close above 17.90 to at least retest the week’s high, if not also resume the rally.

30-year Treasury Dec Contract (US, ETF: (TLT))
Flat-to-higher ranging held the week’s downtrend. But reversing ti — even if only for the purpose of completing a bearish Head & Shoulders topping pattern at 156-26 — must still recover 155-20.

Crude Oil Oct Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Narrow, flat-to-lower ranging suggests that the rally will extend, despite Thursday having fulfilled the prior week’s confirmed breakout.

Natural Gas Oct Contract (NG, ETF: (UNG, UNL))
Thursday’s test had filled a two-week old gap and held prior highs, so Friday’s pullback was not unusual. It held the 3.02 pullback limit to maintain potential for resuming the rally. Any lower close would have undermined the upside momentum, and under 2.95 would have all but ended the bottoming pattern.