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 Tuesday held 1.9050 resistance whose recovery would launch a new rally leg. It reacted down to attack 1.090, whose break would resume the decline.

Gold Feb Contract (GC, ETF: (GLD))
Fresh highs Tuesday touched the 1131.50 target and reversed back down into negative territory. No second consecutive higher close confirmed higher targets are in-play. But the trend hasn’t reversed down, and closing only slightly lower Tuesday requires closing under 1114.00 to launch a new downleg.

Silver Mar Contract (SI, ETF: (SLV))
Monday’s test of 14.35-14.40 resistance wasn’t rejected then, and wasn’t rejected Tuesday, but still hasn’t extended higher to launch a new rally leg.

30-year Treasury Mar Contract (US, ETF: (TLT))
The 162-26 target was met early Tuesday, which now allows room down to 160-16 before starting to signal the trend reversing down — probably sharply.

Crude Oil Mar Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Monday’s gap down under the 32.50 pullback limit wasn’t recovered at Tuesday’s open, probing lower lows down to 29.80. A bounce could test 31.65 while still maintaining the downside momentum.

Natural Gas Mar Contract (NG, ETF: (UNG, UNL))
Monday’s reaction down had been required by Friday’s gap up. Extending down deeper overnight was not required, let alone extending under the recent range’s prior lows. This is not a pattern that recovers durably, even if it tries recovering immediately.