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))
The multi-session range extended to a fifth session as its 1.1815 low was tested Wednesday, and held, surging back into the range up to 1.1875 in reaction to FOMC. Closing under 1.1785 would help to confirm a breakout’s validity. Bounces meanwhile should hold any test of 1.1900 resistance.

Gold Dec Contract (GC, ETF: (GLD))
Gapping down Wednesday to the range’s lower-end at its 1291.50 sell signal probed lower intraday under 1197.80. Almost any initial weakness Thursday would be credible for launching a new downleg.

Silver Dec Contract (SI, ETF: (SLV))
Tuesday’s test of 14.56 didn’t extend higher, and didn’t hold up to suggest 14.80 might also be in-play. But the intraday reversal down to 14.40 doesn’t reverse momentum down.

30-year Treasury Dec Contract (US, ETF: (TLT))
Wednesday afternoon’s FOMC events were greeted from the morning having gapped up hovered in positive territory. But it was a position of weakness at Tuesday’s close, which is what matters, having hovered above prior lows Tuesday despite probing lower overnight down to 139-17. Blipping-up in reaction to the news still has room up to 141-16 without even beginning to threaten reversing the trend up.

Crude Oil Nov Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Flat-to-lower ranging Wednesday is too late to reject Monday’s surge to fresh highs. The 73.90-74.25 target area remains intact, especially so long as pullbacks hold 70.60 as support.

Natural Gas Oct Contract (NG, ETF: (UNG, UNL))
Trending down intraday for a change on Wednesday is greeting Thursday’s EIA report with a constructive 9-cent dip to 3.00, and upside potential to at least 3.12 in reaction to Thursday’s report.