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))
Gapping down Tuesday to 1.0690 tested the same level that had barely held two weeks prior. Closing any lower would seal a top, targeting 1.0550 so long as 1.0750 isn’t recovered.

Gold Apr Contract (GC, ETF: (GLD))
Probing only slightly higher overnight still maintained Monday’s post-close test of the 1235.00 target. The next higher potential objective at 2259.00 is not in-play, but the second consecutive higher close does now require at least an eventual third higher close.

Silver Mar Contract (SI, ETF: (SLV))
Still fluctuating choppily around prior highs Tuesday morning resolved up to a fresh high to trigger a breakout, putting into play 18.18.

30-year Treasury Mar Contract (US, ETF: (TLT))
Monday’s close above the 151-11 maximum bounce limit was extended higher overnight to test 152-00.That was still retraced to gap down and probe lower post-open Tuesday. But attacking 150-24 was deep enough to snap back up to even higher highs at 152-17, next targeting 153-12.

Crude Oil Mar Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Extending Monday’s dip overnight gapped down under uptrending support and the recent relative low at 52.60, then trended down sharply to attack the month-old low at 51.70. A second lower close Wednesday would confirm a new downleg is underway.

Natural Gas Mar Contract (NG, ETF: (UNG, UNL))
Monday’s bounce extended slightly higher overnight to gap up Tuesday. The 3.12 bounce limit held its test. Clolsing  back under 3.06 would now resume the decline next targeting 2.91.