Daily Spot – No new ground.

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 delay wasn”t entirely inappropriate for the recovery”s timing, if the recovery were still valid. Regardless, any further delay to recovery would be replaced by a new downleg. Just failing to gap up Thursday was already a warning. The morning”s plunge was by then old news. At this stage, recovery hopes depend upon not confirming Thursday”s break with a second consecutive lower close Friday.

Gold Dec Contract (GC, ETF: (GLD))
Thursday”s continued weakness from Wednesday”s test of the bounce target could have resolved up if it has resolved up aggressively. Breaking lower instead has put the 1125.70 pullback limit to a retest, which must hold to avoid a deeper and unpredictable pullback..

Silver Dec Contract (SI, ETF: (SLV))
Even Gold”s weakness Thursday couldn”t motivate Silver to fill the gap back down to last Wednesday”s 14.35 opening gap, which would allow a recovery to be credible.

30-year Treasury Dec Contract (US, ETF: (TLT))
Sideways ranging Wednesday seemed uninterested in the stock market strength, but there is still no pattern that requires resolving one way or the other next.

Crude Oil Oct Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Wednesday”s bounce off the prior low under 46.00 had initially extended higher Thursday to probe above 48.00, requiring only to close positive to maintain the potential for retesting the highs up to 50.10.

Natural Gas Oct Contract (NG, ETF: (UNG, UNL))
Greeting Thursday”s EIA report not from a position of strength nevertheless settled higher. Not back above the range”s upper-end, but attacking it, so that any early strength Friday would be credible for extending higher.