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 Sep Contract (EC, ETF: (FXE, UUP))
Wednesday’s wobbly open recovered a gap down to actually probe back above Monday’s close (which Tuesday’s recovery barely did) before reversing down to fresh session lows. Breaking back under Tuesday’s open extended to 1.1725, which must hold to allow a near-term retest of 1.1850 instead of retesting 1.1610 and lower.

Gold Aug Contract (GC, ETF: (GLD))
Tuesday’s close back above 1254.50 after having dipped overnight to 1248.50 had indicated the reaction down didn’t gain traction. But a second consecutive higher close was needed to confirm. And now closing back under 1248.50 is signaling fresh lows in-play, targeting 1237.50.

Silver Sep Contract (SI, ETF: (SLV))
Closing back above 16.07 Tuesday had signaled the overnight test of 15.93 held. But retracing it overnight again has probed back under 15.85. A lower close would trigger a new downleg.

30-year Treasury Sep Contract (US, ETF: (TLT))
Surging overnight off the Mon-Tue test of the 145-02 sell signal attacked the 145-25 buy signal before reversing back down intraday Wednesday.

Crude Oil Aug Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Flat-to-lower ranging Wednesday tested the 72.90 pullback limit and then broke sharply lower to trigger the 71.05 sell signal. Last week’s gap up above all prior highs has foregone its retest, but the rally’s 75.30 target has held.

Natural Gas Aug Contract (NG, ETF: (UNG, UNL))
Slightly lower lows overnight were recovered into Wednesday’s open and firmed to test 2.82 resistance. Regardless, just closing at or under 2.82 maintains the decline’s momentum.