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))
Firming slightly further Tuesday morning filled the gap back up to Thursday’s 1.1685 close. There’s still room up to 1.1735 or 1.1760, but the decline remains likely to resume.

Gold Dec Contract (GC, ETF: (GLD))
Attacking bounce’s the 1280.50 objective Monday reversed down Tuesday morning to attack the original 1266.50 pullback limit. Holding its test would maintain potential for bottoming without first probing new lows. The open’s gap down does suggest that sellers are weak-handed.

Silver Dec Contract (SI, ETF: (SLV))
Hovering at Monday’s highs into Tuesday’s open was soon reversed down to attack the pullback’s original 16.60 low, presumably on the way to fulfilling the 16.50 target below.

30-year Treasury Dec Contract (US, ETF: (TLT))
Firming further overnight almost touched the 152-20 bounce limit that encompasses the “higher prior lows” tests and allows the downside momentum to remain intact.

Crude Oil Dec Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Monday’s test of the 54.15 objective was maintained overnight above the 53.88 pullback limit for the next higher objective at 55.70 to remain intact. Tuesday extended to fresh highs above 54.50, greeting the post-close API and Wednesday’s EIA reports from a position of strength.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Avoiding a fresh low on Monday only made the inevitable likely to be more substantial or durable. Gapping down Tuesday under Monday’s low extended to fresh lows at 2.88.