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))
Tuesday’s firmer market probed back above Monday’s 1.4010 high, still not forming a bottom, although a failed bounce on Wednesday could do that.

Gold Jun Contract (GC, ETF: (GLD))
Tuesday’s bounce was likely only obligatory, having tested prior lows at or under 1326.00 on Monday. The bounce has room up to higher prior lows around 1339.00 while still being only a temporary correction.

Silver May Contract (SI, ETF: (SLV))
Bouncing to within a dime Tuesday of the 16.80 buy signal didn’t reverse the trend back up, and it wasn’t so substantial that renewed selling pressures Wednesday couldn’t easily visit 16.40-16.50 where a larger decline would be threatened.

30-year Treasury Jun Contract (US, ETF: (TLT))
Firming overnight to 143-09 was already undermined by Monday’s bearish pattern. Reversing down through Tuesday’s open extended slightly lower to fresh lows at 142-12. The buy signal remains unchanged above 143-20.

Crude Oil Jun Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Three consecutive closes around last Wednesday afternoon’s 68.35 high were rewarded Tuesday by attacking the rally’s 69.50 target. Its rejection reversed back down under 67.60, and a second consecutive lower close Wednesday would all but seal a top.

Natural Gas Jun Contract (NG, ETF: (UNG, UNL))
Monday’s bounce up to 2.75 firmed another 2-3 cents Tuesday, above the 2.75 bounce limit, which must now reject price back down to maintain the distributive pattern .