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))
Thursday’s return into Wednesday’s range prevented forming an Island Reversal. Still hovering at Wednesday’s upper-end Friday may prevent reversing back under 1.1100 before extending up to 1.1195. But closing back under 1.1100 would still suggest the bounce had ended already.

Gold Dec Contract (GC, ETF: (GLD))
Relatively narrow fluctuation Friday kept alive the potential for producing the minimum requirement for a third higher close before any deeper pullback.

Silver Dec Contract (SI, ETF: (SLV))
Thursday’s pullback low wasn’t retested or attacked Friday, despite initial weakness, suggesting that the attraction to a new relative high close remains intact and in-play.

30-year Treasury Dec Contract (US, ETF: (TLT))
Friday’s choppy open was again attracted back to 163-02, which again bounced to attack 163-27 resistance. A bigger bounce remains unlikely, although closing above 164-08 would suggest something more substantial to the upside is underway. Otherwise, back under 162-16 would likely trigger a break to fresh lows targeting 160-10.

Crude Oil Dec Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
The downleg that triggered under 50.80 got off to a slow and shallow start. Its decline contained a shallow consolidation. And it has extended to fulfill its 43.75 target. Already fulfilling the objective suggests that a corrective bounce will resolve in an even lower low, and probably not just hold a retest of 43.75.

Natural Gas Dec Contract (NG, ETF: (UNG, UNL))
Friday’s narrow range at recent lows doesn’t reject their break, but it maintains the potential for closing Monday above 2.88.to end the decline’s momentum or above 3.00 to reverse the trend back up.