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))
Still trending down overnight to 1.1653 gapped down Wednesday to retest the 1.1665 support that had held night’s low, and had launched the interim rally. Rallying straight back up into the afternoon filled the gap back up to Tuesday’s close, and extending any higher Thursday morning would be likely to extend intraday.

Gold Aug Contract (GC, ETF: (GLD))
Tuesday’s sharp decline to fresh lows from the two-day range all but required probing lower lows Wednesday. Gapping down fulfilled the fresh lows, then bounced back into Tuesday’s range up to 1229.00. The 1223.60 open’s gap down under all prior lows can now be filled and neutralize its attraction.

Silver Sep Contract (SI, ETF: (SLV))
Sliding sharply Tuesday extended overnight to gap down Wednesday at 15.45. Bouncing back up to Tuesday’s 15.55 higher prior lows now allows a retest of Wednesday’s opening gap down to form a durable bottom.

30-year Treasury Sep Contract (US, ETF: (TLT))
Still not rejecting Monday morning’s brief probe under the 145-02/145-25 range’s low to 144-23 continued making its break likelier. Even gapping up Wednesday to test 145-10 was reversed back under Tuesday’s lows to 144-27.

Crude Oil Aug Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Overnight weakness avoided fresh lows, but still greeted Wednesday’s EIA report from a position of weakness. Gapping down to attack Tuesday’s low reacted back up to test Thursday’s high. Extending any higher Thursday morning would suggest the pullback or first downleg had ended.

Natural Gas Aug Contract (NG, ETF: (UNG, UNL))
Wednesday’s fresh lows all but confirmed the decline’s momentum remains intact, absorbing the Sunday-Monday night choppy bouncing. Not recovering any relevant resistance through the close greets Thursday’s EIA report from a position of weakness.