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))
Wednesday’s surge above the original 1.1930 sell signal was retraced overnight and struggled to hold through Thursday morning. Breaking lower through Friday’s open would be credible for extending down. But not yet rejecting the bounce would make 1.2015 likelier to test, first.

Gold Feb Contract (GC, ETF: (GLD))
Flat-to-higher ranging into Thursday did not reject any of the recent gain, maintaining the uptrend and the 1283.50 target in-play.

Silver Mar Contract (SI, ETF: (SLV))
Flat-to-higher ranging into Thursday did not reject any of the recent gain, maintaining the uptrend and the 16.85 target in-play.

30-year Treasury Mar Contract (US, ETF: (TLT))
Wednesday’s gap down under Tuesday’s 151-16 close wasn’t extended intraday Thursday. Neither was it rejected, whether overnight to form an Island, or intraday. Gapping up above 151-16 Friday could still form an Island reversal, at least targeting 152-22. Just closing above 151-16, which is meanwhile resistance, would suggest some updraft underway.

Crude Oil Feb Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Probing fresh recovery highs overnight was retraced before Thursday’s open, and then repeated through the morning. The prior week’s 58.50 gap up was attacked to within almost a dime, where there is natural resistance.

Natural Gas Jan Contract (NG, ETF: (UNG, UNL))
Thursday’s EIA report wasn’t being greeted from either a position of weakness or of strength, although last Friday’s 2.61 gap had just been filled and held by dipping from a position of strength above 2.71. There was no knee-jerk reaction, as price simply weakened to attack last Friday’s 2.58 low, which can hold to form a durable bottom.