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))
Lackluster Sunday night and Monday morning eventually firmed to probe above Friday’s highs to attack 1.1235, which must be recovered before confirming the decline’s momentum has lapsed and the trend may be reversing up.

Gold Jun Contract (GC, ETF: (GLD))
Blipping-up from Monday’s gap down didn’t prevent resuming Sunday night’s slide from Friday’s 1288.50 close. Monday morning’s test and retest of 1280.00 held above the 1277.50 buy signal that had triggered last week, but rallying into Tuesday’s close is the minimum bullish requirement.

Silver Jul Contract (SI, ETF: (SLV))
[Rolling coverage forward from to Jul which trades at a 7-cent premium to May]… Overnight weakness attacking the 14.95 buy signal (basis Jul, 14.88 basis May) collapsed through the open to attack 14.90. While the gap now outstanding from Friday’s 15.09 close doesn’t require being filled, it is still a near-term attraction so long as any lower low intraday Tuesday is recovered to close positive.

30-year Treasury Jun Contract (US, ETF: (TLT))
Extending the bounce Friday to test “higher prior lows” and to fill an outstanding gap allowed raising the sell signal to 147-04 with a close under 146-30 being a confirmation. Both were tested Monday, and extending any lower would signal the 145-24 target remains in-play.

Crude Oil Jun Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Friday’s 62.28 low was attacked to within 20 cents Sunday night but not so much Monday morning. No second consecutive lower close avoids confirming the trend has reversed down, and keeps alive the likelihood for fresh highs targeting 67.00 which would be triggered back above 64.35.

Natural Gas Jun Contract (NG, ETF: (UNG, UNL))
Friday’s 2.61 close had triggered the 2.54 buy signal, which was attacked as support Monday down to 2.55. Almost all of which was recovered throughout the afternoon. A second consecutive higher close would have confirmed the recovery already underway, but closing above 2.61 Tuesday would be almost as reliably bullish.