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 break under 1.0685 extended down deeper Friday to test month-old prior lows at 1.0535. Already having probed under it Sunday previously suggests that the likely retest will not form a quick bottom and recovery..

Gold Feb Contract (GC, ETF: (GLD))
Friday’s dip back under the 1178.50 pullback limit extended much deeper, retesting not only the decline’s 1166.00 target but also attacking prior lows under 1160.00. This action contradicts the bottoming effort, which still must be aggressive in launching a rally leg.

Silver Mar Contract (SI, ETF: (SLV))
Room for noise down to 17.00 was probed Friday down to 17.90, almost as deep as possible without yet reversing the trend down.

30-year Treasury Mar Contract (US, ETF: (TLT))
Thursday’s overdue break was confirmed Friday by gapping down and trending lower, producing a second consecutive lower close that attacked prior lows. An eventual third lower close is now required, targeting 147-21.

Crude Oil Jan Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Gapping up Friday was an appropriate start to an upleg targeting fresh highs at 52.75, which would be confirmed by a second consecutive higher close Monday, and could extend higher anyway so long as pullbacks hold 50.50.

Natural Gas Jan Contract (NG, ETF: (UNG, UNL))
Fresh highs tested 3.75 Friday which would trigger an extended upleg if recovered through the close. Otherwise, closing back under 3.57 would reverse the trend down for at least a correctiion.