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))
Flat-to-higher-to-flat-again ranging Tuesday avoided confirming Monday’s fresh high close, which was already dubious as a breakout. Closing lower Wednesday would be likely to extend down, if not also to form a top.

Gold Feb Contract (GC, ETF: (GLD))
Having neutralized all unfinished above Monday, reacting down immediately Tuesday had room down to 1209.00 before suggesting momentum is already reversing down. The pullback limit was at least tested intraday, and probed after the close.

Silver Mar Contract (SI, ETF: (SLV))
Tuesday’s narrow ranging didn’t extend Monday’s bounce, and leaves outstanding again the eventual third higher close that was indicated by last week’s confirmed breakout.

30-year Treasury Mar Contract (US, ETF: (TLT))
Gapping down Tuesday to 151-11 and extending down intraday prevented invalidating the sealed top pattern, and all but confirming that Monday’s rally was only a corrective bounce, if not also a last gasp before resuming the downleg.

Crude Oil Mar Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Tuesday’s rally back into last week’s highs tested 53.25 resistance, but didn’t probe a fresh high intraday, so the pattern’s resolution remains tenuous. .

Natural Gas Mar Contract (NG, ETF: (UNG, UNL))
Gapping up Tuesday peaked short of the 3.41 level whose recovery would suggest a bigger bounce underway, despite being premature and leaving unfinished business below. Back under 3.23 would likely trigger another downleg underway targeting a retest of prior lows under 3.12.