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 Mar Contract (EC, ETF: (FXE, UUP))
[Rolling coverage forward to Jun which trades at a 90-pip discount from Mar ]… Monday’s bounce back up to 1.2445 “higher prior lows” held, which Tuesday’s gap down exploited by opening at Friday’s 1.2370 close. Extending down to fresh lows through the day essentially confirms the trend remains down.

Gold Apr Contract (jUN , ETF: (GLD))
Monday’s bounce was too shallow to invalidate Friday’s break, which Tuesday morning exploited by trending down under Friday’s lows. Prior lows down to 1305.00 may still offer support, but it should be just a formality to signal 1291.50 is in-play.

Silver May Contract (SI, ETF: (SLV))
Monday’s bounce was too shallow to invalidate Friday’s break, which Tuesday morning exploited by trending down under Friday’s lows. The nearest bounce limit can be lowered from 16.40 to 16.35.

30-year Treasury Jun Contract (US, ETF: (TLT))
Monday’s gap down to 144-00 support was recovered to probe positive territory, but closed  essentially flat. Tuesday’s gap down to Monday’s 143-26 open ranged sideways narrowly. The rally has little excuse to further delay resuming, and to avoid extending the pullback down to 143-16.

Crude Oil Apr Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
[Rolling coverage forward to May which trades at a 55-cent discount from Apr]… Monday’s intraday dip to “lower prior highs” at 60.70 was recovered to close just under the 61.85 buy signal. Tuesday’s open surged through it and extended to prior highs 62.80. A second consecutive higher close Wednesday would confirm 65.00 is in-play.

Natural Gas May Contract (NG, ETF: (UNG, UNL))
Monday’s break under 2.70 support was recovered into Tuesday’s open, hardly fulfilling the minimum 2.65 downside objective, let alone attacking it. But it remains in-play and outstanding, nonetheless.