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))
Just returning to Monday’s low wasn’t likely to form a bottom, and some more significant probe was likely. Thursday night’s plunge was much more aggressive than was required. But Turkey’s currency news leveraged the pattern’s position of weakness. No bottom is likely soon.

Gold Dec Contract (GC, ETF: (GLD))
Still hovering at or above the lows for multiple sessions despite there being no “unfinished business below” suggests a deeper probe is coming.

Silver Sep Contract (SI, ETF: (SLV))
The 3-week old 15.25 gap remains unfilled, and the interim action continues to be “ineffectual optimism” that makes fresh lows likely, too.

30-year Treasury Sep Contract (US, ETF: (TLT))
Already rallying overnight while stocks and currencies fell sharply, the 143-12 buy signal was probed by more than 1 point. A second consecutive higher close Monday would confirm a reversal. But that will be difficult since the gap back to Thursday’s 143-12 close may attract price down first.

Crude Oil Sep Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
A momentary fresh low overnight held 66.15 to barely fulfill the pattern’s minimum outstanding requirement. Rallying into Friday afternoon held 67.85 resistance, needing a second consecutive higher close to confirm momentum reversing up. There is otherwise no currently active signal.

Natural Gas Sep Contract (NG, ETF: (UNG, UNL))
Still fluctuating narrowly within the 2.93-2.95 target area’s range Friday doesn’t make fresh highs any likelier soon. But it does make a reversal down likely to recover.