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))
Monday’s failed bounce extended down deeper Tuesday morning to probe fresh lows. Meanwhile, the required eventual third lower close was fulfilled. But the trend remains down so long as bounces now hold 1.2365.

Gold Jun Contract (GC, ETF: (GLD))
Gapping up and surging Monday was somewhat retraced overnight, but the 1339.00 reversal signal wasn’t probed until mid-morning, and then resisted a bounce into the afternoon. A second consecutive lower close on Wednesday would be optimal confirmation that the decline has resumed.

Silver May Contract (SI, ETF: (SLV))
Pulling back overnight held 16.50 but extended down Tuesday to test the 16.40 sell signal. It was still being overlapped into the afternoon, requiring another decisive close under it Wednesday to trigger.

30-year Treasury Jun Contract (US, ETF: (TLT))
Two eventual higher closes had more than fulfilled the recent confirmed breakout’s minimum requirement, but Tuesday’s open created a gap back up to Monday’s close that will want to be filled eventually, and would meanwhile inhibit a reversal down.

Crude Oil Apr Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Monday’s deeper dip wasn’t immediately recovered Tuesday, but neither did it extend down. The pullback still has room down to 62.62 while awaiting a recovery back above 64.25 that would target 66.88.

Natural Gas May Contract (NG, ETF: (UNG, UNL))
Tuesday did not immediately resume Monday morning’s dive and instead bounced to test 2.70 resistance. The downtrending support that was still being tested at Monday’s close wasn’t decisively recovered, but neither did it hold as resistance.