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))
Monday’s open quickly extended through the lower-end of the 1.1975-1.2025 buy signal to touch its upper-end, still needing to close higher to signal the a reversal underway. Dipping from the open held the range’s lower-end.

Gold Jun Contract (GC, ETF: (GLD))
Gapping down Monday held above 1316.00 whose break would end the corrective bounce without needing to fulfill its 1329.00 potential first.

Silver Jul Contract (SI, ETF: (SLV))
Already having fulfilled the minimum 16.80 bounce potential, Monday’s dip back down to the 16.65 sell signal threatened to reverse the trend back down. Closing under it would be credible for resuming the decline.

30-year Treasury Jun Contract (US, ETF: (TLT))
Higher prior lows had been tested, gaps had been filled, and the buy signal had been threatened. There was no excuse to further delay another break under the 143-07 sell signal Monday, which extended down to attack Thursday’s 142-17 low. That stopped optimistically short before retracing 61.8% back up to Friday’s close. A second consecutive lower close Tuesday is still needed to confirm another downleg underway.

Crude Oil Jul Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Overnight weakness tested the 70.25 pullback limit to within 1 penny. Narrow intraday ranging Monday didn’t exploit having contained the dip, keeping alive potential for a deeper detour down on the way up to 74.10.

Natural Gas Jun Contract (NG, ETF: (UNG, UNL))
Overnight strength continued firming Monday to test the two-week old 2.85 high that had ended the last rally attempt. Closing back under 2.80 is the nearest sell signal.