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))
Gapping up Wednesday to test the 1.0900 bounce limit didn’t take off the table a deeper dip to 1.0750. But recovering from an intraday dip does require sellers to be obviously in control Thursday morning to avoid launching a rally leg.

Gold Feb Contract (GC, ETF: (GLD))
Tuesday’s attack on 1122.00 wasn’t repeated Wednesday. And the breakout wasn’t confirmed by a second consecutive higher close. But the 1114.00 pullback limit wasn’t threatened, so higher highs remain likely.

Silver Mar Contract (SI, ETF: (SLV))
Not rejecting Tuesday’s breakout keeps alive the likelihood for extending higher, albeit without any higher requirement being in-play.

30-year Treasury Mar Contract (US, ETF: (TLT))
Tuesday’s dip was premature for launching a downleg, so Wednesday’s weakness was absorbed and a retest of 160-20/160-28 remains likely.

Crude Oil Mar Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Gapping down Wednesday held 30.45-30.95 as support before recovering into positive territory above Friday’s 32.40 prior highs. The next higher objective is 34.80.

Natural Gas Feb Contract (NG, ETF: (UNG, UNL))
[Rolling forward to Mar contract]. Probing slightly higher overnight and at the open did not extend higher intraday. EIA is reporting Thursday but is not being greeted from a position of strength.