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 gap down to the 1.09.15 sell signal had failed several intraday attempts to trend lower. Friday’s open blipped-up before reversing down sharply to fresh lows at 1.0845. No immediate recovery is likely before extending lower, especially so long as bounces hold 1.0885.

Gold Dec Contract (GC, ETF: (GLD))
Probing under 1252.50 overnight didn’t suffice for fulfilling its test. Instead, it chipped away at support, which gave way through the morning for new lows testing and retesting 1227.00. The drop undermines the prior rally’s confirmed breakout, and is unlikely to recover suddenly after the weekend.

Silver Dec Contract (SI, ETF: (SLV))
Breaking under 18.25 Friday morning extended down sharply through its 17.80 objective to attack prior lows at 17.10 to within a dime. Closing back above 17.45 is the minimum requirement to begin signaling the drop has ended.

30-year Treasury Dec Contract (US, ETF: (TLT))
Fulfilling the 155-30 target extended lower Friday to 155-03 instead of recovering 156-16 to establish that a bottom is forming. Closing back above 156-16 Monday would still keep the door open to bottoming.

Crude Oil Dec Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
The 44.15-44.30 pullback limit failed to hold overnight and Friday gapped down to the decline’s 43.75 target then extended down to fresh lows. A new downleg is underway, next targeting 38.70.

Natural Gas Dec Contract (NG, ETF: (UNG, UNL))
Friday’s narrow ranging extended Thursday’s inside day, and again did not reject recent lows, suggesting that any rally effort short of 2.80 would be unreliable.