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))
Initially rallied Sunday night to 1.1265 resistance, but greeted Monday unchanged. Another rally intraday retested 1.1265, without signaling a resolution either way.

Gold Dec Contract (GC, ETF: (GLD))
Thursday’s break under 1234.50 extended into Monday morning to test 1323.50. Holding  1229.00-1232.00 as resistance confirms momentum is reversing down, eventually targeting 1296.00-1297.00.

Silver Dec Contract (SI, ETF: (SLV))
Thursday’s break under the 19.75 sell signal extended down Sunday night to gap down sharply Monday and test 18.80. A retest of prior lows is in-play so long as bounces now hold 18.35 as resistance.

30-year Treasury Dec Contract (US, ETF: (TLT))
Perhaps there was some flight-to-quality Sunday night inhibiting another drop while stocks dropped further. But bonds didn’t bounce as stocks recovered Monday. That’s probably because Friday’s second consecutive lower close already confirmed Thursday’s break under 170-00 to require at least an eventual third lower close, potentially to 165-20 / 165-30.

Crude Oil Oct Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Sliding sharply Sunday night greeted Monday back under the 45.80 bounce objective that was put into play when 44.20 was exceeded last week, on the way up to 47.75. The morning rallied back into positive territory at 46.50. Closing under 45.80 would signal momentum reversing down to resume the decline, targeting at least a gap fill at 43.20.

Natural Gas Oct Contract (NG, ETF: (UNG, UNL))
Probing higher Sunday night extended sharply higher Monday morning up to 2.92. While prior highs around 3.04 remain in-play, the pattern has formed three days of a four-session sequence that makes Tuesday’s close likely to be in negative territory — which would be relevant if the morning were probing positive territory. Regardless of whether the setup were fulfilled — its inverse was not fulfilled at last week’s low — the upleg remains intact.