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))
Extending down Tuesday can confirm Monday’s break from the failed Ascending Triangle, targeting 1.1010 and potentially 1.0965, so long as the rally’s 1.1100 is not recovered. Having originated from a failed Ascending Triangle, a complete recovery would be likely.

Gold Dec Contract (GC, ETF: (GLD))
Initially bouncing Tuesday to 1291.50 didn’t prevent retesting the 1284.00 pullback limit that was already broken through Monday’s close, and even deeper to attack 1273.00. Closing back above 1286.00 would undermine the selling pressure, but momentum reversing up requires a close back above 1291.50

Silver Dec Contract (SI, ETF: (SLV))
Gapping up slightly extended sharply higher Tuesday morning, filling the gap back to last Wednesday’s high close.Closing above prior lows keeps alive the upside momentum.

30-year Treasury Dec Contract (US, ETF: (TLT))
Finally breaking under the 162-16 sell signal Tuesday morning extended down to attack the 161-22 prior lows that had formed only a temporary bottom, still targeting fresh lows at 160-10.

Crude Oil Dec Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Only firming slightly Tuesday suggests that the decline is not rejected and a new low will be in-play. But calculating the next lower target’s objective requires a corrective bounce to develop, targeting 45.70 or 48.25, perhaps in reaction to Tuesday’s post-close APA report and/or Wednesday’s EIA report.

Natural Gas Dec Contract (NG, ETF: (UNG, UNL))
Not even threatening to recover 2.88-2.91 Monday has resolved by gapping down again Tuesday to fresh lows testing 2.74. No scenario Wednesday would greet Thursday’s EIA report from a position of strength.