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))
Fulfilling the pattern’s minimum objective at Tuesday’s new high close relieved the pattern of any higher requirements. That didn’t qualify as signaling a reversal, but price did react down Wednesday, testing its 1.1200 pullback limit.

Gold Feb Contract (GC, ETF: (GLD))
Overnight weakness was eventually recovered Wednesday, but the 1203.00 target wasn’t met. Its delay does suggest it might be probed, but closing above it would still need a second consecutive higher close to confirm any higher objective in-play.

Silver Mar Contract (SI, ETF: (SLV))
Overnight weakness was recovered essentially to unchanged Wednesday, but still not probing a fresh high that the pattern suggests will develop before a durable downleg.

30-year Treasury Mar Contract (US, ETF: (TLT))
A test of the 165-08/165-12 pullback limit’s lower-end Wednesday resolved up. And up, and up. New highs were probed aggressively up to 167-03 as the rally remained entirely intact.

Crude Oil Mar Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
The downleg targeting new lows is in its denial stage, as choppiness expands upon testing the prior low. A two-handle surge intraday was erased entirely, still likely to extend down.

Natural Gas Mar Contract (NG, ETF: (UNG, UNL))
Gapping down under 2.07 Wednesday and extending to test 2.02 was the opposite of initial strength which would have signaled a rally. Thursday’s EIA report isn’t being greeted from a position of strength, but also not from weakness that might require a negative reaction or undermine a favorable reaction.