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 Mar Contract (EC, ETF: (FXE, UUP))
Tuesday’s flat open barely firmed through the session to range narrowly around Monday’s high. Any initial weakness remains likely to extend down to 1.0750-1.0785.

Gold Feb Contract (GC, ETF: (GLD))
Tuesday finally produced the long-required third higher close by gapping up and extending higher intraday to test 1122.00. A pullback has room down to 1114.00 to maintain the rally’s momentum targeting 1131.50. A second consecutive higher close Wednesday would create a new requirement for an additional higher close.

Silver Mar Contract (SI, ETF: (SLV))
Gapping up Tuesday and extending higher intraday confirmed that 14.10 is now support and the base that formed around it up to 14.35 is breaking higher.

30-year Treasury Mar Contract (US, ETF: (TLT))
Rallying to the 160-26 corrective bounce limit Monday night was retraced to test unchanged Tuesday. It was still premature for launching a new downleg, which was avoided by ranging choppily sideways despite a broad stock market recovery.

Crude Oil Mar Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Fresh reaction lows overnight to 29.25 were recovered to greet Tuesday’s open back at 30.45-30.95 resistance. Its recovery again triggered a rally up to 32.00, but this time with greater potential for extending higher to the 34.80 objective. The reaction to Tuesday’s API report should be duplicated Wednesday morning at the EIA report.

Natural Gas Feb Contract (NG, ETF: (UNG, UNL))
Probing 2 cents above the minimum 2.20 buy signal was retraced before Tuesday’s open, and not repeated intraday. But neither was it rejected, which still suggests post-open strength can extend higher intraday.