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))
Wednesday’s gap down had trended down intraday, and now Thursday has trended down further to confirm the breakout from the multi-session range. Some obligatory support from the recent 1.1500 low being tested might produce a temporary bounce, but the trend has meanwhile reversed.

Gold Dec Contract (GC, ETF: (GLD))
Fresh relative lows under 1222.00 reacted back up into the recent range testing 1233.50. A bigger bounce still has room up to 1241.00 before reversing down, which the pattern is otherwise free to do at any time.

Silver Dec Contract (SI, ETF: (SLV))
Thursday’s fresh lows tested and retested the rising channel’s uptrending resistance as support around 14.60. Its break would next target the channel’s lower-end within currently coincides around 14.35.

30-year Treasury Dec Contract (US, ETF: (TLT))
The extended delay in breaking under the 138-04 sell signal had made it either less likely to break, or likely to recover a break. It was the latter, as Thursday gapped down to 137-24 and barely extended any lower before beginning a reversal back into positive territory, and back above 138-04. Back above 138-18 would target 139-26.

Crude Oil Nov Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Thursday’s gap down to fresh lows comes after Wednesday had already fulfilled the confirmed breakout’s minimum requirement for. Thursday’s bounce from gapping down was retraced entirely back down to the low. The trend remains down.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Gapping down Thursday back to the 3.25 sell signal extended through it to 3.20. A second consecutive lower close on Friday would confirm, but the trend does appear to be reversing down.