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 through 1.0950 resistance Wednesday confirmed the recovery above 1.0900 had ended the potential for retesting recent lows. Extending through downtrending resistance rallied sharply to 1.1156, testing “higher prior lows” at 1.1140. Upside momentum remains intact so long as 1.1065-1.1090 holds as support.

Gold Feb Contract (GC, ETF: (GLD))
Wednesday’s break above the rally’s minimum 1131.50 target extended to test its maximum 1141.00 target above 146.00. Back under 1133.50 would signal the extension had failed to gain traction.

Silver Mar Contract (SI, ETF: (SLV))
Early strength Wednesday finally extended through the 14.35-14.40 resistance to launch the next upleg, already testing 14.80.

30-year Treasury Mar Contract (US, ETF: (TLT))
Fulfilling the 162-26 target Tuesday didn’t prevent probing higher post-close, overnight, or Wednesday, all the way to 164-07. But testing 164-07 didn’t prevent reacting back down to 162-26, which suggests its higher highs are only more recent weak-handed buying pressure. But reversing the trend down still requires dropping under 161-26.

Crude Oil Mar Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
The 29.45 pullback limit was tested overnight before Wednesday’s flat-to-higher open that extended higher intraday to attack 32.50. Closing any higher would signal a retest of 34.80 up to 37.20.

Natural Gas Mar Contract (NG, ETF: (UNG, UNL))
Overnight weakness was recovered Wednesday to firm intraday, but Thursday’s EIA report is still being greeted from a position of weakness.