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))
Surging overnight to gap up Thursday was retraced post-open to fill the gap back down to Wednesday’s close. Resuming the rally instead of rejecting the gap up give the corrective bounce a window to extend before resuming the decline, unless the decline were to resume into the weekend.

Gold Dec Contract (GC, ETF: (GLD))
Initially firming overnight to fresh highs at 1289.00 was reversed through Thursday’s open but largely recovered into the afternoon. The recovery wasn’t strong enough to confirm Wednesday’s rally, but it avoided rejecting the recovery attempt.

Silver Dec Contract (SI, ETF: (SLV))
Thursday’s open slid to 16.95 and ranged there choppily through the session. There was already no bullish reason even to attack it as support, so any further weakness would be credible for extending down to 16.70 and 16.50.

30-year Treasury Dec Contract (US, ETF: (TLT))
Gapping down Thursday extended to test the 153-22 pullback limit. It was pierced momentarily before firming into the afternoon, barely filling the gap back to Wednesday’s close.

Crude Oil Dec Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Wednesday’s intraday surge didn’t reverse down deeply enough to complete a reversal signal. Still ranging narrowly overnight and Thursday failed to exploit any opportunity to confirm by proxy. So, a retest of Wednesday’s high remains likely.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Already greeting Thursday’s EIA report from a position of strength, gapping up created extra room to absorb a relatively shallow negative knee-jerk reaction down. It was recovered back into positive territory, confirming the recovery remains intact.