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))
A third consecutive session Wednesday fluctuating narrowly around last week’s high is more likely forming a Double Top, and less likely basing to launch a new upleg. So, any initial weakness would be likely to trend down.

Gold Feb Contract (GC, ETF: (GLD))
Tuesday’s dip to the 1209.00 pullback limit extended down overnight to gap down Wednesday and test the 1195.00 sell signal. No unfinished business above would be left outstanding.

Silver Mar Contract (SI, ETF: (SLV))
Tuesday night’s dip attacked the 16.75 sell signal despite there likely being one more higher close outstanding in the pattern. Otherwise, having filled the gap Tuesday back up to last Wednesday’s close, no other unfinished business above would remain outstanding.

30-year Treasury Mar Contract (US, ETF: (TLT))
Having retraced Monday’s corrective bounce up to 152-22 by closing Tuesday back under 151-11, Wednesday exploited the opportunity to resume the sealed top’s decline. The 149-08 low retraced all of the month’s gain, and attacked the first day’s gap down that had been recovered abruptly..

Crude Oil Mar Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
The overnight dip in reaction to Tuesday’s post-close API report was recovered to retest 53.25 resistance, but reversed down again after EIA. Now the consolidation is free to resolve in either direction, likely down to 49.05 and 47.75.

Natural Gas Mar Contract (NG, ETF: (UNG, UNL))
Ranging narrowly Wednesday is greeting Thursday’s EIA report from a position of weakness. Tuesday’s high neutralized the attraction to a gap above, while a gap at prior lows down to 3.12 remains outstanding.