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 and Tuesday’s gap down confirm that Monday’s fluctuation at the lows was not accumulation, and that the decline’s momentum remains intact.

Gold Dec Contract (GC, ETF: (GLD))
Monday’s surge was retraced overnight to its 1275.50 buy signal. It was probed as support Tuesday morning, fluctuating around it intraday, and must launch another upleg without further delay Wednesday to avoid a deeper pullback.

Silver Dec Contract (SI, ETF: (SLV))
Retracing Monday’s surge back down to the original 16.95 sell signal must still break lower to confirm Monday’s surge was only noise, and that 16.70 and 16.50 remain in-play.

30-year Treasury Dec Contract (US, ETF: (TLT))
Gradually probing another half-point higher Tuesday morning does not qualify as the aggressive behavior needed at this stage of the rally to prove it’s unlikely to only hold a retest of prior highs and then reverse down.

Crude Oil Dec Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Narrow sideways ranging consolidated Monday’s surge through Friday’s test of the rally’s 55.70 target. A second consecutive higher close was needed to confirm the rally is extending.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Slightly piercing Monday’s high overnight had reversed down to attack 3.09 Tuesday morning. Post-open weakness held a test of 3.09 before bouncing to probe more fresh highs attacking 3.18. Breaking under 3.09 any later than Wednesday morning would be less reliable for extending down to the pattern’s 2.94 target before extending the recovery.