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))
Probing under 1.1860 support Tuesday extended down through the noon hour. A second consecutive lower close on Wednesday would confirm the break.

Gold Feb Contract (GC, ETF: (GLD))
Monday night’s narrow range broke lower into Tuesday’s open and trended down sharply through the morning to attack 1263.00.  The decline’s momentum remains intact until recovering 1285.00.

Silver Mar Contract (SI, ETF: (SLV))
Narrow ranging overnight gapped down slightly into Tuesday’s open, and broke lower through the morning to test 16.05. Back above 1640 would signal momentum reversing up. Meanwhile, 15.75 is in-play.

30-year Treasury Mar Contract (US, ETF: (TLT))
Monday’s inability to rally off of 153-00 and simultaneous ability to hold it as support, greeted Tuesday after overnight weakness under it. The open held 152-18 as support and rallied well into postive territory testing 153-20. This pattern is likely to follow-through the following session.

Crude Oil Jan Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Monday’s dip back down to the 57.40 buy signal probed slightly lower overnight, but Tuesday had little excuse to delay recovering from the pullback to keep alive higher targets.

Natural Gas Jan Contract (NG, ETF: (UNG, UNL))
Already gapping down at Tuesday’s open extended lower to fulfill the 2.87 target. There is no active buy signal, but the timing is appropriate to bounce so that Thursday’s EIA report can be met from a position of strength.