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))
Thursday’s breakout from a 5-day multi-session range under 1.1815 down to 1.1725 gapped down sharply to 1.1645 Friday. The presumed second consecutive lower close would confirm the breakout, and require at least an eventual third lower close.

Gold Dec Contract (GC, ETF: (GLD))
Fresh lows overnight attacking 1184.00 were retraced well into positive territory Friday morning up to 1195.00, which is now the decline’s bounce limit — testing it up to 1198.00. Holding its test as resistance would be optimal for keeping intact the 1172.50 target.

Silver Dec Contract (SI, ETF: (SLV))
The disparate performance from Gold became more glaring Friday as the open gapped back up to Wednesday’s 14.40 close instead of confirming Thursday’s break under 14.33. Surging through the morning up to 14.75, just a nickel below its objective. .

30-year Treasury Dec Contract (US, ETF: (TLT))
Gapping up a quarter-point to test 141-00 Friday was reversed down to probe a quarter-point into negative territory, still having potential for extending the corrective bounce up to 141-16 or 142-00 so long as 140-10 now holds as support.

Crude Oil Nov Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Four days of hovering under Monday’s 72.70 high resolved up Friday to attack 73.75, nearing the 73.90-74.25 target that remains intact so long as 70.80 holds as support.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Having greeted Thursday’s EIA report from a position of strength, and reacting up to new highs fulfilling the 3.10 target, a pullback had room down to 3.00. Having failed to close above 3.10 after testing it, upside momentum became vulnerable and Friday’s open gapped down to test 3.00. Closing any lower would signal the uptrend had ended.