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 Mar Contract (EC, ETF: (FXE, UUP))
Monday’s 1.1905 61.8% retracement of the drop from Wednesday’s high was retested Tuesday morning and probed into the afternoon, attacking the 1.1930 sell signal that must hold to maintain the decline’s momentum.

Gold Feb Contract (GC, ETF: (GLD))
Probing Monday’s highs overnight up to 1268.50 had disappeared by Tuesday’s open, and the morning dipped down to 1262.50, not rejecting what is already a confirmed reversal next targeting 1283.50.

Silver Mar Contract (SI, ETF: (SLV))
Firming overnight  above Monday’s highs was mostly retraced before Tuesday’s open, and then reversed into negative territory through the morning, but was recovered to unchanged.

30-year Treasury Mar Contract (US, ETF: (TLT))
Monday’s 61.8% retracement of the rally from last week’s 152-05 low had room for noise down to 152-22, but Tuesday’s open spiked through it on the way to fresh lows at 151-12. Closing above 151-16 keeps alive the potential that the two-day drop has been a temporary correction, a pattern that would also require recovering 152-18.

Crude Oil Feb Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Firming again Tuesday avoided re-triggering the 56.85 sell signal while still testing the 57.45 bounce limit. Closing beyond either remains likely to extend in that direction, with the downside potentially limited to 55.50.

Natural Gas Jan Contract (NG, ETF: (UNG, UNL))
Closing Monday above 2.71 is a position of strength that makes a recovery likely from dipping to fill the gap back down to Friday’s 2.61 close. Extending higher first would make the recovery temporary.