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))
Tuesday’s break back to prior lows didn’t extend through the close, which Wednesday morning’s bounce exploited. So did the FOMC policy statement, surging to test 1.1790 resistance. Back under 1.1750-1.1760 would likely resume the decline.

Gold Feb Contract (GC, ETF: (GLD))
Wednesday’s CPI report triggered a surge that firmed up to 1251.00 resistance, and the FOMC policy statement triggered another after the close testing 1255.50. Now holding 1251.00 as support would allow a recovery to form.

Silver Mar Contract (SI, ETF: (SLV))
No attraction or unfinished business below being in-play left a vulnerability to reacting favorably to CPI. Greeting the afternoon’s FOMC policy statement at 15.80-15.90 resistance reacted favorably to probe 16.05. Holding 15.90 as support would allow the recovery to become a rally.

30-year Treasury Dec Contract (US, ETF: (TLT))
Overnight weakness wasn’t any more productive than Tuesday’s intraday dip. The lower-end of  the 152-18/153-10 range defined the open, and launched a rally to its uppoer-end in reaction to Wednesday’s CPI. The afternoon FOMC statement probed even higher, at least momentarily, while awaiting the Fed chair’s quarterly Q&A.

Crude Oil Jan Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Tuesday’s reaction to its gap up attacking 59.00 was reversed down to 56.80. Wednesday’s gap up also reversed down, probing under 56.80. Closing under it puts into play the 55.50 pullback objective.

Natural Gas Jan Contract (NG, ETF: (UNG, UNL))
Tuesday’s intraday rejection of its gap up had probed new lows, which were consolidated through Wednesday morning No new signal is available.