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))
Tuesday’s gap down back under the 1.1265 sell signal proved that Monday’s ranging around the 1.1300 prior high had held. But a second consecutive lower close Wednesday is needed for confirmation.

Gold Dec Contract (GC, ETF: (GLD))
Tuesday gapped down under a three-day consolidation that had ranged around 1341.50. Critical support at 1329.00 was tested by mid-morning, and still being tested through the afternoon. A second consecutive lower close Wednesday would confirm. Meanwhile, the break’s momentum requires bounces to hold 1332.00 as resistance.

Silver Dec Contract (SI, ETF: (SLV))
Gapping down Wednesday from Monday’s break under 19.75 was extended to 19.05 intraday, confirming that at least an eventual third lower close is now required. Bounces must meanwhile hold 19.35 to confirm momentum remains intact.

30-year Treasury Dec Contract (US, ETF: (TLT))
Gapping up Tuesday above Monday’s 168-22 high avoided it being a false break. Its second consecutive higher close confirms the breakout, and now requires at least an eventual third higher close. The likely minimum objective is 170-02.

Crude Oil Nov Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Tuesday’s gap down retraced Monday’s recovery of Friday’s plunge. Filling the gap back down to Friday’s 44.55 close does neutralize its attraction below, but it’s not a buy signal. Closing back above 45.00 would signal the rally is resuming. There’s otherwise risk in even the most bullish pattern for a detour to 42.25.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Tuesday’s flat-to-higher firming didn’t reject Monday’s bounce from Friday’s test of “lower prior highs.” But Tuesday’s firming was too shallow to confirm a reversal underway. Nevertheless, almost any initial strength Wednesday would be credible for extending higher intraday