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))
Firming Monday filled Tuesday’s small gap back up to 1.1145 that had been left outstanding during last week’s slide. Closing higher Tuesday would suggest a top is already forming. Otherwise there remains potential for extending the pullback to 1.1150-1.1155.

Gold Apr Contract (GC, ETF: (GLD))
Sunday night’s flash crash to 1206.00 was recovered before the open to regain the 1216.50-1223.00 range intraday. Closing above or below it at this stage would now be likely to extend in that direction.

Silver May Contract (SI, ETF: (SLV))
Monday continued fluctuating narrowly around 14.25, and not forming a pattern with any predictive value either way.

30-year Treasury Jun Contract (US, ETF: (TLT))
Rallying Monday morning tested 163-16 whose recovery would start to signal the bottoming pattern had completed already, still subject to a second consecutive higher confirming close. Back under 162-07 would target fresh lows at 160-28.

Crude Oil May Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Probing above 39.55 Sunday night was erased by Monday’s open, and 39.55 held as resistance to a narrow intraday range. Recovering 39.55 would still target 42.00-42.35.

Natural Gas Apr Contract (NG, ETF: (UNG, UNL))
Firming Monday helped to confirm that Thursday’s softer reaction to the EIA report was not necessarily weakness, and it may have absorbed the last of a corrective dip before resuming the rally targeting 1.99.