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))
The holiday weekend’s gap up was preserved into Tuesday. That required a lot of energy, which has now been fulfilled, so any new weakness would be credible for extending down. By implication, any new weakness could be a significant turning point for the USD.

Gold Feb Contract (GC, ETF: (GLD))
Friday’s post-close rally to fresh highs and its extension Sunday night up to 1345.00 were retraced entirely overnight. Tuesday’s flat open eventually firmed into the close, barely jeopardizing the buy signal that had already triggered through Friday’s open.

Silver Mar Contract (SI, ETF: (SLV))
Friday’s post-close rally above 17.15 to fresh highs and its extension Sunday night to 17.45 were retraced entirely overnight to pierce under Thursday’s 16.85 low. Recovering to unchanged into Tuesday’s open later closed 5-10 cents higher to suggest another rally attempt will be underway.

30-year Treasury Mar Contract (US, ETF: (TLT))
Bounce potential to 150-16 had been tested, and then extended Monday night to make the bounce potential to 151-26 also likely to be tested before resuming the decline. Tuesday’s test of 151-00 reacted down but held 150-16 to keep alive the potential for extending the temporary bounce.

Crude Oil Feb Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
The bounce from Friday’s dip to the 63.15 pullback limit persisted into Tuesday’s open, albeit still short of the rally’s 64.75 that had been tested already.

Natural Gas Feb Contract (NG, ETF: (UNG, UNL))
Gapping down from Friday’s test of the rally’s initial 3.17 target had room down to “lower prior highs” at 3.05, which were tested overnight. Holding the pullback limit’s test through the morning was recovered to fill the gap back up to 3.17.