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))
Last week’s 1.1655 highs were probed again Tuesday, and held again as resistance. While this is the intraday requirement to maintain that a top is forming, the pattern can’t repeat indefinitely before reversing down, not if reversing down is the intent.

Gold Dec Contract (GC, ETF: (GLD))
Monday’s reaction down from the lower-end of 1236.00-1241.00 was recovered entirely Tuesday, still having room to test the target area’s upper-end, but now being vulnerable to reversing or at least correcting last week’s surge.

Silver Dec Contract (SI, ETF: (SLV))
Gapping up Tuesday above Monday’s 14.80 high was reversed back into negative territory to test Monday’s 14.70 close. The gap up is not outstanding and doesn’t require being filled, so early weakness Wednesday would be credible for extending down.

30-year Treasury Dec Contract (US, ETF: (TLT))
Tuesday was the third consecutive session to fluctuate narrowly supported by the 138-04 sell signal. Delaying its break does open the door wider to extending the corrective bounce, which would next be attracted to “higher prior lows” at 140-26.

Crude Oil Nov Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Flat-to-higher ranging for a third consecutive session Tuesday continued to delay the requirement for at least one eventual lower close. The delay keeps the door open to an initially favorable knee-jerk reaction to Wednesday’s EIA, but the news is otherwise being greeted from a position of weakness.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Filling the gap back up to 3.28 was likely before continuing to trigger and confirm the 3.25 sell signal. Probing it overnight up to 3.31 was already retraced before Tuesday’s open to avoid neutralizing the attraction. Narrow sideways ranging Wednesday, too, would greet Thursday’s EIA report from a position of strength.