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 Dec Contract (EC, ETF: (FXE, UUP))
Monday’s bounce had retraced 61.8% of Friday’s steep drop through its 1.1265 sell signal, which Tuesday honored by not probing any higher, and by dipping back down toward Friday’s low. Not closing any lower would form a multi-session range which would be vulnerable to another breakout lower Wednesday.

Gold Dec Contract (GC, ETF: (GLD))
Monday’s gap up extended no higher intraday, but it wasn’t rejected Tuesday. At least, not yet. New lows targeting 1296.00-1297.00 remain in-play.

Silver Dec Contract (SI, ETF: (SLV))
Tuesday’s dip to 19.15 was recovered to attack the 19.35 bounce limit, but not recover it. Holding 19.35 Monday made the decline likely to resume, its retest of prior lows remaining intact.

30-year Treasury Dec Contract (US, ETF: (TLT))
Gaping up Tuesday and extending higher intraday to 166-23 was retraced back down to the 165-30 bounce limit, further suggesting the gap back down to 165-02 needs to be filled before a rally can begin.

Crude Oil Nov Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
[Coverage rolls forward to Nov which trades at a 75-80 cent premium to Oct] Could the pattern have bottomed? Last week’s failed Pivot Reversal tried, but resolved down. Now Tuesday’s Key Reversal is leaving no structural “unfinished business below” — gapping down within the range and recovering from a fresh low to close positive. Only measurable attractions remain outstanding, like 43.00 and 42.30. Closing above the Pivot Reversal’s 45.00 intraday high would be credible for reversing the trend back up.

Natural Gas Oct Contract (NG, ETF: (UNG, UNL))
Gapping up to fresh highs Tuesday and extending higher through the morning is essentially already fulfilling the 3.04 target. Higher targets will be in-play, especially upon confirming with a second consecutive higher close on Wednesday.