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))
Returning to Friday’s lows Sunday night formed a gap down Monday. Prior lows recovered into positive territory where and held the intraday test through the close, but the recovery wasn’t reversed back above a prior high that would have formed a buy signal.

Gold Jun Contract (GC, ETF: (GLD))
Choppy ranging into the new week still held the 1316.00 bounce limit to keep alive last week’s bounce being only a temporary correction. But indefinite time is not available to absorb the bounce, which has little excuse to further delay resolving down to fulfill outstanding objectives below.

Silver Jul Contract (SI, ETF: (SLV))
Sideways ranging overnight and Monday continued to test the 16.45 bounce limit that Friday’s close was overlapping to avoid rejecting.

30-year Treasury Jun Contract (US, ETF: (TLT))
Triggering the 143-07 reversal signal Friday would not have been credible for the same session that produced a trend extreme. Having tested the signal anyway on Friday, it all but required being triggered on Monday. Its delay only makes another upleg increasingly likely, albeit still needing to be triggered by closing  back above .

Crude Oil Jun Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Last week’s rally extended higher Sunday night to gap up Monday. The break has confirmed the next higher target in-play at 74.10, so long as pullbacks now hold 69.85 as support. Closing under 69.25 would start to signal momentum reversing back down.

Natural Gas Jun Contract (NG, ETF: (UNG, UNL))
Gapping up and ranging sideways Monday was similar to Friday not extending down, and doesn’t reject the Wednesday-Thursday drop that had confirmed the prior bounce was only a temporary correction. But the bearish pattern has no excuse to further delay extending the downleg to fresh lows under 2.69-2.70.