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 Mar Contract (EC, ETF: (FXE, UUP))
Still ranging flat Wednesday morning didn’t undermine the outstanding requirement for the confirmed breakout to produce its minimum eventual third higher close. Surging out of the FOMC statement closed above 1.1485 to fulfill the minimum objective, while also suggesting much more follow-through to the upside.

Gold Apr Contract (GC, ETF: (GLD))
Already probing higher overnight to within $5 of the 1325.00 target (basis Apr, 1319.50 basis Feb) was retraced back into Tuesday’s range. The FOMC statement triggered a post-close surge that fulfilled the target. No higher objective is in-play, but an immediate reversal down in this pattern is unlikely.

Silver Mar Contract (SI, ETF: (SLV))
Fresh highs overnight retested the prior high that had preceded the interim downtrending channel. A post-close surge to fresh highs above 16.05 suggests the rally will extend higher.

30-year Treasury Mar Contract (US, ETF: (TLT))
Wednesday’s narrow sideways range seemed oblivious to the FOMC events. A second consecutive higher close would have confirmed the recent strength, so delaying an upleg much beyond Thursday morning would start to become bearish.

Crude Oil Mar Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Wednesday morning’s rally to fresh highs attacking 55.00 was retraced back down to “lower prior highs” at 54.15. The rally effort remains intact.

Natural Gas Mar Contract (NG, ETF: (UNG, UNL))
Flat ranging at the lows is greeting Thursday’s EIA report from a position of weakness. A fresh low in the sequence is likely before any durable rally can be credible.