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 open gapped down to 1.0915 and probed under it several times, but continually returned to 1.0915 to avoid a clean break under it that would require extending to fresh lows before the next credible rally effort can begin.

Gold Dec Contract (GC, ETF: (GLD))
A shallower bounce than Tuesday night’s test of 1291.50 was reversed down again into Thursday’s open, and extended lower under 1266.00 down to 1258.00 before returning to 1266.00. The next lower objective at 1252.50 would be in-in play unless 1275.00 were recovered first.

Silver Dec Contract (SI, ETF: (SLV))
Flat-to-higher ranging Thursday within Wednesday’s range seemingly awaited Gold’s resolution to its attraction below. Regardless, closing back above 18.80 would signal at least a retest of Tuesday night’s rally to 19.00.

30-year Treasury Dec Contract (US, ETF: (TLT))
Without already trying to bounce overnight out of Wednesday’s intraday plunge to new lows, lower lows targeting 155-30 are likely to be fulfilled before a credible recovery attempt can begin.

Crude Oil Dec Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Flat or flat-to-lower ranging Thursday does not fulfill the requirement to quickly validate Wednesday’s test of 45.70 resistance. The window remains open for a break above it until it holds another test, and so long as 44.15 holds as support.

Natural Gas Dec Contract (NG, ETF: (UNG, UNL))
Gapping down Thursday held 2.60 support and largely remained within Wednesday’s range throughout an otherwise muted reaction to the morning’s EIA report. The first breakout from this setup in either direction would not be reliable for extending until confirmed the following day.