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’s intraday bounce was mostly retraced through the close, but its high was already probed overnight ahead of Wednesday’s open. That test was also reversed into the afternoon, still likely to trend under 1.1760 and lower.

Gold Dec Contract (GC, ETF: (GLD))
Firming overnight from Tuesday’s temporary intraday probe under Monday’s low stopped short of triggering a buy signal like 1287.00. All of the rally was retraced intraday.

Silver Dec Contract (SI, ETF: (SLV))
The decline’s likely 16.50 objective remains outstanding, despite surging pre-open above 16.80. The attraction below helped to absorb Wednesday’s pre-open strength, and to retrace it down to 16.55.

30-year Treasury Dec Contract (US, ETF: (TLT))
Bouncing into Wednesday’s open was still a half-point short of the 153-14 buy signal, while further delaying the eventual third lower close still required by last week’s confirmed breakout. The early bounce was reversed into negative territory.

Crude Oil Nov Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Fresh lows overnight had potential to extend Tuesday’s break lower that had otherwise held its test of “lower prior highs” as support. Holding 49.75 all but requires recovering without further delay to avoid a deeper decline.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Overnight firming was shallow, but Wednesday’s open surged higher to 3.00, touching “higher prior lows.” Its reaction down to Monday’s 2.97 open neutralizes its attraction, and allows a bottom to form.