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))
Fresh lows though Friday’s open extended the retest of three-week old prior lows down to 1.1595. Their 1.1636 gap down had been filled already Thursday, so closing lower Friday would all but ensure at least probing lower Monday — regardless of Monday’s resolution.

Gold Dec Contract (GC, ETF: (GLD))
Fresh lows overnight reacted up Friday morning to retest 1227.00 as resistance. The test held, keeping alive the drop’s momentum which still requires at least an eventual third lower close and likely tests of 1209.50 and potentially 1188.50.

Silver Sep Contract (SI, ETF: (SLV))
Overnight selling was recovered into Friday’s open, and the overnight 15-cent drop to 15.25 disappeared as Friday gapped up. Testing 15.25 would neutralize the three-week old gap down that still wants to be tested from above.

30-year Treasury Sep Contract (US, ETF: (TLT))
Friday’s reaction to the Employment Situation report bounced to touch the 143-02 buy signal, but only to touch it and not trigger it. Extending higher would leave no “unfinished business below,” and extending higher is likely so long as pullbacks now hold 142-16 as support. Closing any lower would more likely resume the decline.

Crude Oil Sep Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Thursday surge back above 68.35 up to previous resistance at 69.25 was retraced Friday to test 68.05 as support. Holding its test keeps alive upside momentum targeting the Island and 71.75.

Natural Gas Sep Contract (NG, ETF: (UNG, UNL))
Thursday’s knee-jerk reaction had held Tuesday’s 2.83 prior high, but Friday gapped up through it and trended slightly higher. I’m treating this as a confirmed breakout, next targeting 2.93-2.95 so long as 2.78 holds as support.