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 Jun Contract (EC, ETF: (FXE, UUP))
Wednesday’s surge was retraced had originated from a weak base that was likely to fail eventually. It wasted no time as Thursday retraced the surge’s origin, and triggering a sell signal under 1.1465. The gap back up to Wednesday’s close need not be filled, but it could be attacked up to 1.1500.

Gold Apr Contract (GC, ETF: (GLD))
Extending Wednesday’s post-close surge overnight gapped up sharply Thursday, but it was all retraced anyway back down to Tuesday’s close. The gap up above all prior intraday highs does create an attraction from below that would want to be filled before any durable reversal were credible.

Silver May Contract (SI, ETF: (SLV))
Gapping up Thursday held up relatively well intraday for being under pressure throughout. A second consecutive higher close Friday would confirm a new rally leg underway.

30-year Treasury Jun Contract (US, ETF: (TLT))
Wednesday’s surge extended higher Thursday, its second consecutive higher close from a multi-session range now confirming a bigger rally leg underway.

Crude Oil May Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Flat-to-lower overnight ranging was recovered Thursday to retest Wednesday’s highs. All price requirements have been met, so only a second consecutive higher close can confirm the trend remains intact.

Natural Gas Apr Contract (NG, ETF: (UNG, UNL))
Thursday’s EIA report was not being greeted from a position of strength. Not from a position of weakness, either, but that didn’t prevent dipping further under 2.84 to test 2.80. Back above 2.84 would once again signal a rally underway.