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))
Fresh lows Sunday night at 1.0992 fulfilled the decline’s next lower objective. While closing back above 1.1011 would suggest that a bottom will begin forming, at least an eventual third lower close is still required.

Gold Dec Contract (GC, ETF: (GLD))
Friday’s gap down was recovered too quickly to qualify as enough pessimism to offset the “ineffective optimism” early last week. No upside action Monday helps to confirm, keeping the door open to attacking or probing fresh lows.

Silver Dec Contract (SI, ETF: (SLV))
Monday’s extremely narrow ranging suggests the pattern still requires some more concerted selling effort as part of a bottoming pattern.

30-year Treasury Dec Contract (US, ETF: (TLT))
Sunday night’s fresh lows down to 162-19 were recovered back above last week’s prior lows and 163-27 to try launching a corrective rally. Resistance at 164-08 must be recovered to put into play a test of  166-19.

Crude Oil Nov Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Already having two consecutive lower closes under the rally’s 50.80 pullback limit, a rests of the rally’s 51.50 target would be likely to hold. It wasn’t tested before Monday slid a little deeper, so that now closing above 50.80 would put into play 54.60.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Monday’s dip did not hold the 2.26 pullback limit which had held Friday. Now signaling the rally’s resumption requires closing above 2.29. And the delay should be minimal to avoid a deeper corrective dip.