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))
Bouncing Sunday night from last week’s two-day ECB plunge is likely only a correction, with a more substantial consequence to last week’s break still in-play. Meanwhile, the gap back to Thursday’s 1.1685 close is an attraction, perhaps up to 1.1735.

Gold Dec Contract (GC, ETF: (GLD))
Firming further from Friday’s test of 1266.50 on Monday helps to confirm that the 3-week old low’s retest has held. Its 1280.50 was attacked, and closing above it would start to signal a new upleg underway.

Silver Dec Contract (SI, ETF: (SLV))
Friday’s bounce firmed a little further Monday, testing “higher prior lows” at 16.65, and still likely to resolve down for a test of 16.50.

30-year Treasury Dec Contract (US, ETF: (TLT))
Gapping up Monday tested one set of “higher prior lows” at 151-18 and extended higher intraday to attack the next set at 152-08. But at least one more fresh low close remains likely, so long as the bounce doesn’t recover 152-20.

Crude Oil Dec Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Already testing the next higher objective at 54.15 before Monday’s open, its intraday retest must hold above 53.88 through the close to maintain the upside momentum.

Natural Gas Dec Contract (NG, ETF: (UNG, UNL))
[Rolling coverage forward to Dec from Nov] Friday’s new lows made Monday likely to probe lower at some point intraday, regardless of when or if maintained through the close. That was avoided, undermining near-term bottoming potential. A test of “higher prior lows” 3.01-3.05 before filling the gap back down to Monday’s open would also keep alive the bottoming potential.