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))
Reversing down overnight essentially confirms the two intraday tests of last week’s highs had held, and that a top may have finished forming. Regardless, a second consecutive lower close on Thursday is still needed for confirmation.

Gold Dec Contract (GC, ETF: (GLD))
Still hovering under the lower-end of the 1236.00-1241.00 bounce limit Wednesday means still not reacting back down. Attacking or testing the bounce limit’s upper-end and closing under its lower-end should launch a new downleg. Otherwise, early weakness could extend but must still close lower to confirm.

Silver Dec Contract (SI, ETF: (SLV))
Flat-to-lower ranging Wednesday essentially held around unchanged at 14.70. Closing back under 14.60 would now signal momentum reversing down to 14.35 and possibly lower.

30-year Treasury Dec Contract (US, ETF: (TLT))
Wednesday continued hovering narrowly above the 138-04 sell signal. Having avoided its break for four consecutive sessions, the potential has grown for extending the corrective bounce to 140-26.

Crude Oil Nov Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Greeting Wednesday’s EIA report from a position of weakness broke to fresh lows at 69.63, on-track for fulfilling the minimum requirement for at least a third lower close.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
The gap back up to 3.28 was tested Wednesday morning, and was still holding or being tested into the afternoon. Closing under 3.25 can now greet Thursday’s EIA report from a position of weakness.