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))
Dipping overnight to 1.1700 had recovered to open flat Tuesday, and then improved up to 1.1765. But the session turned negative, holding the critical 1.1725 pullback limit which keeps alive the 1.1850 upside attraction.

Gold Aug Contract (GC, ETF: (GLD))
An overnight dip to 1218.00 was recovered to open flat Tuesday, but only improved to attack 1230.00. The restrained optimism helps to dismiss the shallow pullbacks that should still fill last Thursday’s 1215.00 opening gap before completing a bottom.

Silver Sep Contract (SI, ETF: (SLV))
Falling back to 15.35 overnight was recovered so much that Tuesday’s open gapped up to the past week’s 15.55 highs. Its brief probe was retraced back under the prior highs. But positive territory was maintained throughout, after gapping up, which is “ineffectual optimism.” Almost any delay to extending higher Wednesday would all but ensure retesting last Thursday’s 15.23 gap down.

30-year Treasury Sep Contract (US, ETF: (TLT))
Still probing under the 143-02 target Tuesday morning down to 142-21 would have allowed lowering the bounce limit, if 143-02 isn’t recovered through the close. Which a late bounce up to 143-07 suggests. Otherwise, closing under 143-02 would all but confirm that an even deeper decline is underway.

Crude Oil Sep Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Monday’s opening test of the 68.82 buy signal had failed, and was eventually retraced overnight to the 67.50 lower prior high’s support. All of which was recovered into Tuesday’s open, which retested 68.82. The signal held again, but it was still being tested, and not necessarily rejected. Extending higher at Wednesday’s open would be credible for targeting the 71.75 corrective bounce target.

Natural Gas Aug Contract (NG, ETF: (UNG, UNL))
Gapping down Monday held support at last Thursday’s opening print, without recovering or extending from there. Tuesday only ranged sideways, like Monday’s post-open action, still likely at least to probe fresh lows.