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))
Trying to rally Tuesday night stopped short of the 1.0685 buy signal before reversing down through Wednesday morning. Filling the gap back down to last Wednesday’s 1.0560 close Wednesday morning could serve as the low’s retest if followed by a close back above 1.0655.

Gold Feb Contract (GC, ETF: (GLD))
Holding tests of 1191.50 resistance through Tuesday night resolved down Wednesday back to prior lows, likely to extend to the 1166.00 objective where forming a durable bottom would be more credible.

Silver Mar Contract (SI, ETF: (SLV))
Once again backing of from 16.70 resistance Wednesday held Tuesday’s 16.45 low to avoid probing fresh lows, which a bottoming pattern does not require.

30-year Treasury Dec Contract (US, ETF: (TLT))
Tuesday’s threat of reversing the series of lower lows and lower highs had required resolving down almost immediately to avoid recovering the 154-17 buy signal. Wednesday’s open did gap down, and extend back down to 151-16 prior lows. The decline has no bearish excuse not to extend down without further delay, unless a bottom is forming.

Crude Oil Jan Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Tuesday’s retest of Sunday night’s low had required launching a recovery almost immediately. The overnight rally gapped up to trigger the 46.60 buy signal and extend sharply higher intraday. Prior highs were probed by attacking 50.00, still likely at least to touch 50.50.

Natural Gas Jan Contract (NG, ETF: (UNG, UNL))
Another narrowly ranging session held the 3.30 pullback limit to greet Thursday’s EIA report from a position of strength, including the 3.45-3.50 objective outstanding above. A knee-jerk reaction down would be attracted to 3.20 and 2.98 gaps outstanding below.