Daily Spot…

A daily summary of high-profile members of several complexes… PLEASE NOTE: THERE IS NO MARKET WRAP TODAY.

Eurodollar Dec Contract (EC, ETF: (FXE, UUP))
Thursday’s test of the 1.0655 buy signal was probed overnight up to 1.0695, and then again Friday morning to at least test the 1.0685 prior highs. Closing any higher would help to confirm that Wednesday’s retest of the prior Wednesday’s close had sufficed to form a durable bottom.

Gold Feb Contract (GC, ETF: (GLD))
Modest overnight strength stopped short of even attacking the 1181.00 level whose recovery would start to suggest a bottom is forming. Friday’s post-open dip to 1168.50 was recovered to a higher high. Meanwhile, this leg’s minimum 1166.00 objective has held two tests and closed higher, with no overnight lower low, so a bottom has no bullish reason to further delay starting to signal it is forming.

Silver Mar Contract (SI, ETF: (SLV))
Rallying overnight to probe back above 16.70 was retraced already by Friday’s open. But the morning’s higher highs suggested its recovery through the close, which would begin sealing a bottom, if not also reverse momentum up.

30-year Treasury Dec Contract (US, ETF: (TLT))
Gapping up Friday ahead of the Employment Situation report didn’t much change in reaction to the report. So long as 150-25 isn’t recovered, at least one more lower close remains likely.

Crude Oil Jan Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
The 50.50 pullback limit was tested overnight. So long as it holds as support through the close, the next higher target at 52.75 is in-play, and potentially aslo 56.15.

Natural Gas Jan Contract (NG, ETF: (UNG, UNL))
Extending to fresh highs overnight does not prevent reversing down intraday. Indeed, Friday’s opening action did reverse down from testing 3.57 overnight to probe under the 3.48 pullback limit, whose break through the close would trigger a deep pullback. Closing above 3.53 would indicate the pullback limit held its test.