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 bounce back to Tuesday’s highs attacking overnight highs was already retracing to gap down Thursday back at Wednesday’s 1.1615 open. Which was also the sell signal. And the overnight retracement extended down sharply through the noon hour to Monday’s internal support at 1.1580. But our premise is that the false bounce will be punished by much more than just retracing its origin.

Gold Dec Contract (GC, ETF: (GLD))
Although there’s no longer any “unfinished business below,” a close above 1229.50 will be needed to avoid fresh lows down to 1201.50.

Silver Sep Contract (SI, ETF: (SLV))
Thursday’s flat-to-higher ranging was too meek to offset the outstanding attraction back down to 15.25, whose delay is increasingly likely to require a deeper probe. Gapping up or otherwise surging through 15.60 would get some benefit of the doubt for staging a detour higher.

30-year Treasury Sep Contract (US, ETF: (TLT))
Still hovering around the 142-18 sell signal at Thursday’s open didn’t qualify as triggering it, but neither did it reject the break back under 143-02. Nevertheless, firming Thursday retested 143-02 and the 143-12 buy signal as resistance. Not extending higher Friday would all but require fresh lows.

Crude Oil Sep Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Wednesday’s plunge only consolidated Thursday, which leaves potential for extending down, but doesn’t require it. There is no active signal.

Natural Gas Sep Contract (NG, ETF: (UNG, UNL))
Thursday’s knee-jerk reaction to the EIA report could have been down, but only temporarily. The news was greeted from a the position of strength of new highs, but new highs that had just fulfilled their 2.93-2.95 target. The reaction was actually muted, as the session fluctuated narrowly within the target range.