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))
Exploiting Wednesday’s gap fill and extending higher Thursday through 1.0950 was partially rejected by gapping down  Friday back under 1.0950 and extending down sharply.

Gold Feb Contract (GC, ETF: (GLD))
Flat-to-lower ahead of Friday’s open was able to hold the 1114.00 pullback limit again, but shouldn’t further delay extending the rally if its momentum remains intact.

Silver Mar Contract (SI, ETF: (SLV))
Thursday’s dip didn’t extend down Friday, but still must recover above 14.35-14.40 to resume the rally.

30-year Treasury Mar Contract (US, ETF: (TLT))
Retesting the prior high now allows the rally to peak, whether immediately or after extending to test 162-26. Interestingly, the strength accompanies stock market strength, without a “flight-to-safety” catalyst.

Crude Oil Mar Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Friday’s early strength attacked the 34.80 bounce target that had been met Thursday. Its reaction down into negative territory stopped short of testing the 32.50 pullback limit, keeping alive potential for extending to 37.20.

Natural Gas Mar Contract (NG, ETF: (UNG, UNL))
Recovering Thursday from its dip had kept alive the basing pattern, yet again, by closing back above 2.14. Friday’s gap up to 2.30 helps to signal the bottom is done forming, but a second consecutive higher close Monday would confirm a new upleg is underway. Meanwhile, a test of “lower prior highs” at 2.19 would temper the excessive optimism.