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))
Friday’s inside day didn’t end the decline’s momentum, let alone reverse the confirmed breakout back up after Thursday had fulfilled the decline’s minimum objective. With the decline’s momentum intact, Monday’s open gapped down under all prior lows and ranged narrowly sideways .

Gold Dec Contract (GC, ETF: (GLD))
Probing and testing the 1202.30 sell signal through most of last week seems to be compensating for the break’s delay by gapping down Monday to 1193.00 and extending down intraday to 1186.00. The gap back up to Friday’s close will want to be filled eventually, but the 1172.50 remains intact.

Silver Dec Contract (SI, ETF: (SLV))
Gapping down sharply Monday rejected last week’s ranging around 14.65 and under uptrending support at 14.55, but still requires closing under 14.25 to confirm momentum is reversing down.

30-year Treasury Dec Contract (US, ETF: (TLT))
Monday’s Bank and Government holiday sapped both participation and volatility from the market, where narrow ranging formed an inside day that doesn’t reverse the prevailing downtrend.

Crude Oil Nov Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Bouncing off of the 73.90 pullback limit Thursday had stopped short of reversing momentum up above 75.30. Sunday night’s drop to fresh lows attacking 73.05 was already bouncing into Monday’s open, but still stopped short of recovering the 73.90 pullback limit.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Dipping further Friday had held the 2.12 pullback limit which required resuming the rally without delay to avoided reversing the trend down. Gapping up Monday extended to fresh highs that tested 2.29, creating new room for only a corrective dip down to 2.23.