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))
Wednesday repeated Tuesday’s test of 1.1955-1.1970 support, with less success at holding it or recovering from it. Trending down into the afternoon tested 1.1875, likely to test 1.1855 before the next credible recovery attempt.

Gold Dec Contract (GC, ETF: (GLD))
Firming overnight triggered a gap up at Wednesday’s open, which was then reversed more deeply to fresh lows at 1324.50. Breaking again under the 1337.50 sell signal is now more likely to extend down to 1318.50 before a retest of recent highs would be credible, or at least credible for extending higher.

Silver Dec Contract (SI, ETF: (SLV))
Tuesday’s dip to wasn’t deep enough for its recovery to 17.90 to launch a new rally leg. Wednesday’s retest of Tuesday’s low barely avoided 17.70 before bouncing back up to 17.90, still vulnerable to a deeper dip.

30-year Treasury Dec Contract (US, ETF: (TLT))
After extending Monday’s pullback under 156-00 to attack 155-04 Tuesday, Wednesday slid deeper to retrace the two-week old prior low under 155-00. Back above 155-20 would trigger a bounce targeting 157-10.

Crude Oil Oct Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Already firming into Wednesday’s open was extended higher intraday to attack last week’s highs to within a nickel, targeting a new high close as required by its confirmed breakout highs, so long as 47.95 now holds as support.

Natural Gas Oct Contract (NG, ETF: (UNG, UNL))
Gapping up Wednesday and extending through Tuesday’s 3.04 high helped to confirm that shorts were trapped by the Friday-Monday break under 2.95. Filling the gap back to the week-old 3.06 close could provide near-term resistance, so pullbacks should hold 3.02 if the recovery is intact.