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))
Unfinished business below at the 1.1278 low close’s gap-fill was neutralized Monday morning. Its slow approach, and obligatory support upon actually being tested, suggests that it will be probed before a recovery can be credible.

Gold Jun Contract (GC, ETF: (GLD))
Despite originating from Friday’s pre-open touch of the 1291.30 pullback limit, its intraday bounce didn’t persist through the weekend as Monday’s open was greeted by a reaction down to Thursday’s 1293.50 low. The buy signal remains unchanged at 1308.50, but with fresh lows likely first.

Silver May Contract (SI, ETF: (SLV))
Monday fluctuated entirely within Friday’s range, hovering above the gap back down to Thurdsay’s close. No lower low or retest of the low is required, and the buy signal remains unchanged at 15.25.

30-year Treasury Jun Contract (US, ETF: (TLT))
Friday’s dip to the 149-11 pullback limit was probed Sunday night down to 149-00 and then lower intraday Monday to attack 148-00. There is room for noise to 147-17/147-25 before even suggesting momentum is reversing down.

Crude Oil May Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Gapping up above all prior highs on Friday had remained untested as “unfinished business” to attract price higher after the weekend. Sunday night did rally back to Friday’s high, and trended higher Monday morning to attack 61.75. Pullbacks must hold 60.55 to maintain upside momentum.

Natural Gas May Contract (NG, ETF: (UNG, UNL))
Trending down to a fresh extreme Friday afternoon all but requires a lower low before reversing up can be credible. The setup is usually fulfilled Monday, but gapping up out of the weekend helped to prevent a fresh low intraday. However, the new price action creates a new setup that would form a bottom by closing positive after probing a fresh low intraday.