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))
Still firming ahead of Wednesday’s open continued firming intraday. Thursday’s ECB policy statement is not being greeted from a position of weakness, albeit having bounced optimistically short of filling an outstanding gap.

Gold Dec Contract (GC, ETF: (GLD))
Retesting Tuesday’s lows overnight became very volatile Wednesday, probing a fresh pullback low and eventually recovering to 1280.50 as resistance. Almost any early strength Thursday would be credible for extending.

Silver Dec Contract (SI, ETF: (SLV))
An overnight blip-down pierced Tuesday’s lows, which already were challenging the bottoming attempt by not closing decisively above 17.00. There was no follow-through, but not closing back above 17.00 undermines the bottoming pattern.

30-year Treasury Dec Contract (US, ETF: (TLT))
Tuesday’s drop back to 151-18 support only held there instead of rejecting it, and trended down sharply overnight to probe the Employment Situation report’s 151-08 reaction low down to 150-14. Being the second consecutive lower close from the Fri-Mon multi-session range, at least an eventual third lower close is required before a durable bottom can again try forming.

Crude Oil Dec Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Shallow overnight weakness still greeted Wednesday’s EIA report from a position of strength. Spending the entire session in negative territory still held high enough to be only an “inside day” from which any initial strength Thursday would be credible for extending higher intraday.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Two days of hovering at or above the 2.96 sell signal broke lower overnight, gapping down Wednesday on the way to its 2.84 target where a better bottoming attempt could form. But Thursday’s EIA report is not being greeted from a position of strength.