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))
Trending down throughout Wednesday further under the 1.1860 sell signal that triggered Tuesday went on to test 1.1790, which must break lower to confirm the recent upleg has been broken.

Gold Feb Contract (GC, ETF: (GLD))
Flat, narrow ranging Wednesday may appear to be stability, but it is not accumulation, which is the only way to avoid printing lower lows. So, any initial strength Thursday would be likely to resolve down.

Silver Mar Contract (SI, ETF: (SLV))
Wednesday’s narrow range may avoid confirming the breakout’s momentum to the downside, but it doesn’t prevent further downside Thursday. Early strength would be likely to fail.

30-year Treasury Dec Contract (US, ETF: (TLT))
Gapping up Wednesday to and through Friday’s 154-06 prior high and extending to 154-18 was maintained through the afternoon. Pullbacks must now hold 153-10 to maintain the upside momentum.

Crude Oil Jan Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Gapping down Wednesday from 57.40 to the prior pullback limit of 56.80 needed to hold to still qualify as only a temporary pullback. But the session extended down to attack 56.10, now leaving a gap back up to 57.40 that must be recovered to reinstate upside targets.

Natural Gas Jan Contract (NG, ETF: (UNG, UNL))
Tuesday’s test of the 2.87 target firmed intraday and overnight for Wednesday’s open to gap up and test 2.96. Reacting down filled the gap back to Tuesday’s 2.91 close, leaving no unfinished business below. Thursday’s EIA report isn’t being greeted from a position of weakness, but would have been a position of strength to close above Tuesday’s 2.93 high.