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))
Surging so aggressively Thursday morning was premature since a bottom had not signaled it was yet even forming. That impatient buying was reversed to a new low close that produced a gap down Friday, quickly nearing the next lower target at 1.0865.

Gold Dec Contract (GC, ETF: (GLD))
Probing back under 1266.00 overnight was recovered into Friday’s open, and held as support through the day, without trying to resume the rally.

Silver Dec Contract (SI, ETF: (SLV))
Friday’s narrowly ranging session showed no signs of confirming the week’s earlier surge had attracted any new sponsorship.

30-year Treasury Dec Contract (US, ETF: (TLT))
Fresh recovery highs tested 165-02, whose recovery would help to confirm the 165-30 and 166-19 targets remain intact.

Crude Oil Dec Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Gapping down Thursday was a little too abrupt for already launching a new downleg after having held the rally’s 51.50 target retest only one day earlier. It being premature was somewhat confirmed by Friday’s narrow range, which does help to launch a more credible downleg.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Although Thursday’s reaction to EIA ultimately held its 3.14 pullback limit, despite testing its room for noise down to 3.09-3.11, Friday’s open gapped down under Thursday’s low and trended down intraday to probe under 3.00. This is a breakout from a multi-session range, so closing lower Monday would entrench the decline and not allow a rally to form near-term. Closing Monday back above 3.14 would be the minimum to suggest a bottom may form.