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))
Thursday gapped down under the prior two sessions and fluctuated around the third prior session, The two prior sessions had trended up, so the immediate reaction down is likely to be retraced. A second consecutive lower close on Friday would instead reverse the trend to down.

Gold Jun Contract (GC, ETF: (GLD))
Wednesday’s pullback didn’t hold 1361.00 as support, and Thursday didn’t gap up above 1364.00 to resume the rally. Overnight action had fallen to test 1350.00, and the session trended down to the original 1339.00 buy signal. Rallying would be credible Friday, or else rallying Monday after having further consolidated Friday.

Silver May Contract (SI, ETF: (SLV))
Failing to close above the 16.80 objective Wednesday was retraced overnight to test 1655.00 at Thursday’s open, and to probe lower intraday. There is no bullish reason for a deeper pullback.

30-year Treasury Jun Contract (US, ETF: (TLT))
Reacting down from Wedneday’s opening test of the 146-26 target extended lower Thursday to touch 145-03 at last Friday’s low. Back above 144-26 would be credible for having ended the decline, which otherwise remains intact.

Crude Oil Apr Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Relatively narrow overnight ranging at the 66.88 target which was tested throughout Wednesday, albeit by a normal range. Closing higher would put into play 69.50, but otherwise be aware of a potential for decline.

Natural Gas May Contract (NG, ETF: (UNG, UNL))
Greeting Thursday’s EIA from NOT a positive of strength contributed no more or less to the session ultimately ranging narrowly sideways, still likely to break lower.