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))
Dipping Monday back down to the two-week old 1.1333 buy signal had held through the close. But its reaction never even attacked the 1.1375 buy signal before probing lower to attack 1.1300 Tuesday. Back above 1.1350 Wednesday would be compelling for long-entry, but the burden of proof would still be on buyers.

Gold Apr Contract (GC, ETF: (GLD))
Slightly lower lows overnight were recovered back into Monday’s range Tuesday, but not extended as the potential for an Island bottom becomes less. So, the bullish scenario would bounce temporarily before a second upleg could gain traction.

Silver May Contract (SI, ETF: (SLV))
Narrow flat-to-lower-to-flat ranging Tuesday kept the recent decline from extending through support 15.10, and keeps alive potential for recovering 15.40 to launch a recovery.

30-year Treasury Jun Contract (US, ETF: (TLT))
Monday’s bounce to resistance had seemed obligatory considering the flight-to-safety. Tuesday’s reaction down wasn’t substantial, but doesn’t negate the potential for dipping deeper to retest Sunday night’s lows.

Crude Oil Apr Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Tuesday’s early test of the 57.00 buy signal wasn’t any more successful than Monday’s, or any more consequential as the balance of the session only ranged sideways again. The post-close API and Wednesday EIA report aren’t being greeted from a position of strength, but not from a position of weakness either.

Natural Gas Apr Contract (NG, ETF: (UNG, UNL))
Sunday night’s fresh high testing 2.89 had been isolated by Monday’s open, and not revisited until Monday night. Its retest was also isolated, and not repeated post-open. This setup undermines the upside potential for being unable to exploit the strength, and would be bearish if its reaction were extended down.