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 Dec Contract (EC, ETF: (FXE, UUP))
Tuesday had fulfilled the decline’s requirement to completely retrace the last upleg from 1.1845. Wednesday extended the decline anyway, coming attacking its 1.1760 next lower target.

Gold Dec Contract (GC, ETF: (GLD))
Bouncing Tuesday off of 1298.50 “lower prior highs” was followed naturally Wednesday by gapping down through 1293.50 prior lows and probing lower to attack 1285.00. Attractions down to 1280.00 are in-play so long as Thursday doesn’t close positive.

Silver Dec Contract (SI, ETF: (SLV))
Fresh lows overnight extended down Wednesday morning to attack prior lows, next targeting the 16.50 area.

30-year Treasury Dec Contract (US, ETF: (TLT))
Repeatedly holding 154-30 resistance finally reacted down Tuesday night, and aggressively. Gapping down to the 153-14 prior low probed ranged choppily intraday at or under last week’s low, needing to hold for the retest for a bottom to form.

Crude Oil Nov Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
API and EIA weren’t greeted from the position of strength of a confirmed breakout. But reactions to the news items didn’t extend down, suggesting that Monday’s breakout intends to try extending again even without confirmation.

Natural Gas Oct Contract (NG, ETF: (UNG, UNL))
Gapping up Wednesday created a gap back down to Tuesday’s close that will want to be retested. Trending up so early to already test the 2.98 bounce limit suggests its test is sponsored by weak hands. Thursday’s EIA is not being greeted from a position of strength, so a knee-jerk reaction up would have to close aboev 3.02 to be credible for extending higher.