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))
The reaction down from Tuesday’s gap up had held 1.1725 through the close. Wednesday resumed the decline to test 1.1700 before the FOMC news. That filled the gap back down to Friday’s close, where closing any lower would launch a new downleg. The immediate reaction bounce, avoiding the sell signal. Closing above 1.1740 would triggger a reversal.

Gold Dec Contract (GC, ETF: (GLD))
Another choppy directionless session Wednesday essentially tested both ends of its narrow range. The intraday test of 1227.00 was ongoing into the close, and reacted up later on the FOMC policy statement.

Silver Sep Contract (SI, ETF: (SLV))
Dropping back down to the 15.40 sell signalWednesday held as support through the close, and bounced slightly afterward on the FOMC policy statement.

30-year Treasury Sep Contract (US, ETF: (TLT))
Gapping down Wednesday to 142-14 was several ticks above Monday’s low. Probing it down to 141-27 was recovered back into Monday’s range. There is on unfinished business below if the trend wants to reverse up, which would be triggered above 142-26 and 143-02.

Crude Oil Sep Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Extending the reaction down from testing 70.30 tested prior lows at 67.50. Almost any strength Thursday would be likely to extend and at least retest Monday’s Island pattern, if not also probe it up to 71.75.

Natural Gas Sep Contract (NG, ETF: (UNG, UNL))
Already testing 2.76 continued testing it throughout Wednesday, neither extending down nor rejecting it. Closing any lower weould signal the trend reversing back down. Thursday’s EIA report is not being greeted from a position of strength.