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 Sep Contract (EC, ETF: (FXE, UUP))
After fulfilling the confirmed breakout’s minimum third required higher close Friday, Monday’s session ranged narrowly sideways. Not immediately rejecting the third higher close does make likely at least fresh intraday highs, but doesn’t make the rally any likelier to extend.

Gold Dec Contract (GC, ETF: (GLD))
Fresh highs Monday extended Friday’s fulfillment of the confirmed breakout’s minimum required third higher close. Pullbacks must hold the 1350.00 area to maintain upside momentum next targeting 1275.50.

Silver Sep Contract (SI, ETF: (SLV))
Wednesday’s confirmed breakout was on-track to be confirmed Monday by the required eventual third higher close as the open’s gap up extended to fresh highs and ranged flat-to-higher intraday.

30-year Treasury Sep Contract (US, ETF: (TLT))
Having confirmed a new breakout above 173-04 by at least 1 point Friday, Monday’s gap down had room for extending back down to the buy signal and lower to 172-26 without jeopardizing the upside momentum that requires at least an eventual third higher close.

Crude Oil Sep Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Friday’s bounce didn’t even threaten the decline’s bounce limit before resolving down to fresh lows Monday testing 39.85. Now holding 40.80-41.30 would maintain the decline’s momentum and its 36.60 target.

Natural Gas Sep Contract (NG, ETF: (UNG, UNL))
Barely confirming Thursday’s breakout by 1 penny Friday didn’t offer any momentum to greet the new week in rally mode, so Monday’s open easily gapped down and extended intraday to test the 3.77-3.80 buy signal as support. Lower lows would be allowable only intraday to maintain upside momentum targeting at least an eventual third higher close, .