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))
Friday’s break back above 1.1720 resistance was suspicious because it originated from an extended test of “lower prior highs.” Monday’s open gapped down to 1.1720 and didn’t recover, suggesting that momentum remains pointed down.

Gold Dec Contract (GC, ETF: (GLD))
Sunday night’s drop to the 1285.00 pullback limit held for Monday morning, but only to hold 1290.00 and not yet to bounce back up to Friday’s close. Potential to 1305.00 otherwise remains intact.

Silver Sep Contract (SI, ETF: (SLV))
Sunday night’s dip attacked the 16.90 low of last week’s test of the 17.05 pullback limit. Monday’s open began recovering and the morning extended back into positive territory, marginalizing sellers for another day.

30-year Treasury Sep Contract (US, ETF: (TLT))
Overnight weakness was probably motivated by a flight-from-quality during the stock rally. Gapping down to the 154-30 pullback limit held, and despite the rally persisting throughout the morning, the gap back up to Friday’s close was nearly filled above 155-10. .

Crude Oil Sep Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Friday’s test of the 48.25 sell signal had held, but didn’t recover the two-week long Triangle’s lower-end. Monday morning improved back up to the Triangle’s apex at 49.15. That corrected the first drop, and resolved down into Monday afternoon probing fresh lows under 47.74. A second consecutive lower close Tuesday would confirm the pattern has rolled over.

Natural Gas Sep Contract (NG, ETF: (UNG, UNL))
Room down to 2.91-2.92 was tested through Monday morning’s steep opening slide. Firming through the noon hour avoided closing lower, which would still target 2.81-2.82.