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 Mar Contract (EC, ETF: (FXE, UUP))
The complete retracement of Thursday’s premature intraday rally didn’t extend down overnight or Friday morning. But the gap back down to 1.0435 should still be filled before a durable rally begins.

Gold Feb Contract (GC, ETF: (GLD))
Friday’s shallow strength held 1136.50 resistance. It was nevertheless in contrast to Silver’s weakness, increasing the vulnerability to a corrective bounce to 1147.00-1149.00 before fulfilling the 1118.00 target below..

Silver Mar Contract (SI, ETF: (SLV))
Friday’s open quickly dipped to retest Tuesday’s 15.75 gap down under all prior lows that had required being retested from above. Having neutralized the attraction below, a rally effort would be credible for extending higher. But an intraday probe of fresh lows can’t be dismissed.

30-year Treasury Mar Contract (US, ETF: (TLT))
Growing vulnerability to a brief false break higher was threatened at Friday’s open, although no recent intraday highs were tested by Friday’s 149-12 high. Back under 148-12 and 148-04 would signal momentum reversing down.

Crude Oil Jan Contract (CL, ETF: (USO, USL))
Gapping down Friday to retest the 52.50 buy signal was reversed back up throughout the session, but not yet reversed into positive territory, let alone reversed up sharply as the bullish scenario requires.

Natural Gas Jan Contract (NG, ETF: (UNG, UNL))
Thursday’s 3.62 pre-open high was probed Friday’s up to 3.72, still delaying the inevitable retest of Tuesday’s Island that had formed from Wednesday’s gap up.