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 night’s fresh trend low was only slightly lower, and it wasn’t repeated intraday. But only Tuesday’s highs were attacked Wednesday, without recovering to signal momentum reversing up. Regardless, a more credible bottom would first recover an intraday test of Tuesday night’s 1.1855 low.

Gold Jun Contract (GC, ETF: (GLD))
Still fluctuating Wednesday is not necessarily bullish while continuing to hold the 1316.00 bounce limit. But the ongoing fluctuation is also further delaying a resolution down, for which there’s no bullish reason to further delay.

Silver Jul Contract (SI, ETF: (SLV))
Fresh recovery highs were probed Wednesday but not maintained, keeping alive the recent bounce as being only a temporary correction, still likely to resolve down and resume the decline.

30-year Treasury Jun Contract (US, ETF: (TLT))
Attempting to trigger the 143-07 sell signal on Friday had required there be little or no delay. Lower lows and lower highs since then kept alive its ongoing test, but Wednesday’s gap down under those tests now all but requires extending down. Any recovery would start to make a new upleg likelier.

Crude Oil Jun Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Tuesday’s intraday test of 68.25 that recovered above the 68.65 buy signal was immediately productive overnight, probing fresh highs up to 71.35 Wednesday.The 74.10 objective remains in-play, within pullbacks now needing to hold 69.50 as support.

Natural Gas Jun Contract (NG, ETF: (UNG, UNL))
Gapping up slightly and ranging sideways Wednesday is still another version of the recent directionless sessions that are not individually undermining the continuing likelihood to resolve down. Collectively, not exploiting the opportunity on a timely basis can become bullish again.