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))
A slightly lower low overnight was retraced into Friday’s Employment Situation report, where Friday morning extended back up above Thursday’s highs. Consolidating pessimistically short of the gap back to Wednesday’s 1.2350 gap is potentially bullish from a contarian perspective.

Gold Jun Contract (GC, ETF: (GLD))
Probing fresh lows overnight under 1323.00 was reversed up Friday morning to test 1339.00 resistance. Holding its test instead of being recovered to reverse momentum up does soften the bullishness of having held the earlier test of support.

Silver May Contract (SI, ETF: (SLV))
Initially extending Thursday’s bounce up to 16.50 Friday morning, the pattern reacted back down under 16.50 to maintain the recent break’s momentum. But the pattern can’t tolerate much if any further delay in confirming fresh lows.

30-year Treasury Jun Contract (US, ETF: (TLT))
This week’s pullback to the 145-00 area had essentially dipped as deeply as possible without reversing momentum down. From that perspective, bouncing up to 146-00 seems a little shallow for the reaction to Friday’s Employment Situation report. The gap back up to Monday’s 146-26 close is still in-play.

Crude Oil Apr Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Thursday still failed to extend above the gap back to Tuesday’s 63.45 close, remaining vulnerable to reversing back down. Friday did reverse back down, retesting Wednesday’s 62.10 low. Closing under 62.62 won’t tolerate much if any further delay in resuming the rally through 64.25 to reinstate the 66.88 target.

Natural Gas May Contract (NG, ETF: (UNG, UNL))
Friday’s bounce back up to 2.70 is much too shallow to reverse momentum up, and keeps alive the ongoing pullback targeting a retest of 2.62 down to 2.52.