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))
Favorable reaction to Thursday’s ECB meeting and especially to ECB Chair’s Draghi’s comments triggered a surge up to 1.1700. If that’s the recently formed Symmetrical Triangle’s false break, then back under 1.1600 would signal the trend reversing back down more substantially.

Gold Dec Contract (GC, ETF: (GLD))
Wednesday’s probe above the 1209.50 buy signal didn’t extend any higher overnight, but it surged up to 1218.00 momentarily Thursday morning. Reacting back down under 1207.00 would be likely to trend down sharply into the weekend on almost any initial weakness Friday.

Silver Dec Contract (SI, ETF: (SLV))
The 14.33 buy signal continued holding as resistance overnight and was pierced only briefly Thursday morning. Almost any initial weakness Friday would be likely to trend down into the weekend.

30-year Treasury Dec Contract (US, ETF: (TLT))
Flat-to-lower ranging overnight greeted Thursday’s open at the gap back down to Tuesday’s 142-00 close. Surging probed above Wednesday’s highs, a couple of times. There is no unfinished business above if the pattern wants to establish a bottom with a second consecutive higher close Friday.

Crude Oil Oct Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
After fulfilling the minimum upside objective at 71.20 Wednesday, overnight action tested the 69.50 pullback limit. Gapping down to it Friday extended through it to retest the original 68.40 buy signal. Closing above 69.50 would keep alive the upside momentum, and the attraction to retesting the 71.40 overnight high. Closing under 67.80 would resume the decline.

Natural Gas Oct Contract (NG, ETF: (UNG, UNL))
Greeting Thursday’s EIA report from a position of strength didn’t have much reaction either way. But the bottoming pattern was unshaken, indirectly confirming it and the likelihood for soon rallying.