Daily Spot… Counter-trending.

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))
Ranging narrowly Thursday essentially confirmed that Wednesday”s session did not fulfill the required third lower close outstanding. It also did not fulfill the required third lower close outstanding. Lower lows remain in-play..

Gold Jun Contract (GC, ETF: (GLD))
Flat-to-lower ranging Thursday continually overlapped 1205.00 whose break would signal momentum reversing down. Back above 1208.50 and 1213.00 would signal the pullback had ended, and targeting a retest of the recent 1232.00 high.

Silver Jul Contract (SI, ETF: (SLV))
Ranging narrowly between 17.00-17.25 avoided extending the decline or recovering it, still needing a break either way to signal the next leg.

30-year Treasury Jun Contract (US, ETF: (TLT))
Wednesday”s optimistic low  may require being retested, but Thursday”s bounce widened the gap well above the 153-02 bounce limit to test 154-16. A reaction down has room to 153-30 before suggesting momentum is reversing down.

Crude Oil Jul Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Gapping up Thursday and extending higher retraced 61.8% of the drop from recent highs back to 60.80. Another downleg targeting 55.00 would be triggered under 59.75. There is otherwise no bounce limit in-play.

Natural Gas Jun Contract (NG, ETF: (UNG, UNL))
Gapping up Thursday still reacted favorably to the EIA report. That reaction was retraced back to the open”s gap up, sapping momentum from the pattern. But an attraction back up to 3.08 remains intact.