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 Jun Contract (EC, ETF: (FXE, UUP))
Friday’s probe under the 1.2390 pullback limit tested the 1.2340 sell signal down to 1.2300, then recovered to the 1.2340 signal. Recovering the 1.2390 pullback limit could serve as a buy signal at this stage.

Gold Jun Contract (GC, ETF: (GLD))
Despite recovering Thursday’s test of 1344.50 back above 1347.25, Friday dipped deeper to test 1337.00. Buyers lose traction by closing under 1344.50, which must be recovered Monday morning to isolate Friday’s dip.

Silver May Contract (SI, ETF: (SLV))
Dipping overnight to test 17.05 was recovered into the open. Friday’s session spent exclusively in negative territory without extending down qualifies as “ineffectual pessimism” which would make any initial strength Monday bullish.

30-year Treasury Jun Contract (US, ETF: (TLT))
Only a very brief, shallow bounce preceded Friday’s extension down to 143-04, 20 ticks under Thursday’s  close but less dramatic than was possible following Thursday’s deep drop. Regardless, the requirement for at least a third lower close is fulfulled.

Crude Oil Jun Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Dipping Friday to 67.50 was recovered to test Wednesday’s 68.45  high. Closing above it could have signaled the pullback from 69.50 had ended. Extending higher Monday would now require gapping up, or else the reaction down is likely to extend.

Natural Gas May Contract (NG, ETF: (UNG, UNL))
Thursday’s break under 2.70 wasn’t rejected Friday, but it was retraced, almost back up to 2.75 resistance. The break remains valid and in-play, so long as 2.75 isn’t recovered, and likely to resolve down to 2.52.