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))
Higher highs overnight attacked the 1.1755 maximum corrective bounce limit up to 1.1738. Thursday’s open gapped up only slightly above Wednesday’s high to 1.1700, and the session developed largely around Wednesday’s high. A retest of Wednesday night’s high is possible before retesting this week’s lows.

Gold Aug Contract (GC, ETF: (GLD))
Firming overnight to 1311.50 probed the gap back to last Wednesday’s 1308.50 close, which had contained the prior two sessions’s highs. It was retraced before the open to avoid early strength that otherwise would have suggested a bigger bounce underway before resuming the decline.

Silver Jul Contract (SI, ETF: (SLV))
An overnight test of the original 16.60 sell signal was somewhat duplicated post-open Thursday, but held, keeping alive the likelihood for resuming the decline into the weekend.

30-year Treasury Jun Contract (US, ETF: (TLT))
Still fluctuating within Tuesday’s wide range, and overlapping flat-to-higher around Wednesday’s inside day, Thursday firmed to within a quarter-point of filling the gap back up to Tuesday’s 146-08 close. There’s still room down to 144-20 before signaling a bigger pullback underway, which Thursday’s bounce has helped to refuel for a deeper objective.

Crude Oil Jul Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Reacting down overnight to Wednesday’s post-close API data was retraced Thursday morning in reaction to the holiday-delayed EAI report. Largely retraced, a dime short of Wednesday’s 68.20 close. And only briefly retraced, reacting back down to probe 50-cents under the 67.30 open, which held its retest. But having failed to confirm Wednesday’s recovery attempt, the rally must reassert itself into the weekend.

Natural Gas Jul Contract (NG, ETF: (UNG, UNL))
Thursday’s gap up above the two prior days’ multi-session range extended to attack prior highs, and the outstanding 3.00 objective. That also filled the gap back up to Friday’s 2.97 close, which reacted down intraday.