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 Sep Contract (EC, ETF: (FXE, UUP))
Although last week’s rally stopped short of its 1.1945-1.1970 potential, extending down Monday could have reversed the trend. Gapping up shallowly doesn’t prevent resuming the decline anyway, but it does start to suggest the highs will be tested as part of completing a top.

Gold Dec Contract (GC, ETF: (GLD))
Flat-to-lower ranging Sunday night persisted into Monday morning as the 1261.00 support fought to prevent at least filling near-term gaps below, let alone extending down into a deeper decline.

Silver Sep Contract (SI, ETF: (SLV))
Fresh lows Sunday night persisted into Monday’s gap down, which hovered in negative territory. No deeper pullback is required, but a deeper pullback is likely nonetheless so long as Tuesday’s open doesn’t gap up back above Friday’s close.

30-year Treasury Sep Contract (US, ETF: (TLT))
Relatively narrow ranging Monday didn’t extend Friday’s reaction down, further suggesting that too little time was spent testing the high for it not to be retested regardless of the resolution.

Crude Oil Sep Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Flat-to-lower ranging avoided a fresh low, as well as the 48.25 sell signal, while awaiting at least a deeper pullback if not also a trend reversal.

Natural Gas Sep Contract (NG, ETF: (UNG, UNL))
Friday’s pre-open pierce of Tuesday’s 2.76 low didn’t fulfill its retest, and neither did Friday morning’s hovering just above the prior low. So, Monday’s pierce of Friday’s highs certainly didn’t complete the bottom, either. That said, a second higher close Tuesday would suggest a bigger bounce underway first.