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))
Fresh lows overnight probed under 1.1760 which last week’s lows had stopped optimistically short of touching. Already bouncing Tuesday morning reflects a different version of that same optimism, which continues to be bearish from a contrarian perspective, so long as 1.1825-1.1845 holds as resistance.

Gold Dec Contract (GC, ETF: (GLD))
Gapping up Tuesday to form an Island Reversal was the only immediate recovery pattern, and it wasn’t even threatened before probing slightly lower intraday.

Silver Dec Contract (SI, ETF: (SLV))
Monday’s attack on the 16.50 target didn’t extend down Tuesday, as the session ranged choppily sideways at its lows.

30-year Treasury Dec Contract (US, ETF: (TLT))
Fresh lows overnight tested 152-00, the next step to fulfilling the required eventual third lower close of last week’s confirmed breakout. Producing it from a close back above 153-14 would have been bullish, but we’ll still monitor for a bottom forming.

Crude Oil Nov Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Monday’s tumble down to “lower prior highs” didn’t extend lower overnight. But closing above 51.75 is still needed to reverse the trend back up.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Did Tuesday avoid a second consecutive lower close, which would have confirmed Monday’s breakout? Developing mostly within Monday’s range mitigates whether the close was actually lower, so almost any initial strength Wednesday would be credible for extending higher.