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))
Overnight weakness was erased before Thursday’s open, but the 1.1333 signal was only tested and not triggered. Its recovery would be likelier now to also trigger 1.1375 and launch a more substantial rally.

Gold Feb Contract (GC, ETF: (GLD))
Thursday’s bounce only touched 1217.00 which must still break higher to trigger a retest of “unfinished business” at 1228.30 and probably also 1233.00.

Silver Mar Contract (SI, ETF: (SLV))
Gapping down under prior lows Thursday can’t tolerate a second consecutive lower close for the pattern to include any near-term recovery up to “unfinished business” at 16.16. Closing back above 15.70 would now signal a recovery underway.

30-year Treasury Mar Contract (US, ETF: (TLT))
Gapping up Thursday to the prior upleg’s 146-04 target extended sharply higher to fill the gap back to last week’s 146-28 high close. Almost any follow-through Friday would be credible both for extending higher intraday, and for resuming the prior upleg.

Crude Oil Mar Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
A slightly higher high overnight didn’t prevent dipping Thursday to test the 53.30 buy signal as support. But it was recovered back up to Wednesday’s intraday highs attacking 54.75 and remains likely to launch a new rally leg.

Natural Gas Mar Contract (NG, ETF: (UNG, UNL))
Greeting Thursday’s EIA from neither a position of strength nor weakness made no difference to price action which barely acknowledged the report, and only continued ranging very narrowly sideways around unchanged.