Daily Spot… Gold and bond turns coming?

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 Sep Contract (EC, ETF: (FXE, UUP))
Wednesday’s break lower didn’t extend Thursday, but its bounce was relatively shallow and didn’t reject the attraction still outstanding to fresh lows.

Gold Dec Contract (GC, ETF: (GLD))
Narrow sideways ranging Thursday didn’t reject Wednesday’s close under the 1117.00 target which was still almost being overlapped at the close. Thursday’s narrow range also didn’t overlap it, or extend down,  making any initial rally effort credible for extending higher intraday..

Silver Dec Contract (SI, ETF: (SLV))
Choppy sideways action Thursday ought to hold above 14.50 resistance and avoid putting into play fresh lows.

30-year Treasury Dec Contract (US, ETF: (TLT))
Probing fresh highs was still retraced to range narrowly around 158-00, and now back under 157-14 and 156-16 would signal a deeper drop underway.

Crude Oil Nov Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Gapping up Thursday to test 46.00 resistance wasn’t any likelier to extend from a standing stop within the prior range, which was retraced into the afternoon.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Wednesday’s fresh low close didn’t greet Thursday’s EIA report from a position of strength. Gapping down didn’t help. An immediate rally at this stage wouldn’t be credible, but Tuesday’s confirmed breakout has no unfinished business below.