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))
Slightly higher highs Sunday night didn’t prevent gapping down Monday and extending lower intraday to attack Wednesday’s low. Stopping optimistically short of touching the prior low suggests that a lower low will be that much more substantial to compensate for the ineffectual optimism.

Gold Dec Contract (GC, ETF: (GLD))
Gapping down slightly Monday and piercing Thursday’s low ran into an outstanding gap that held intraday, but is likely to almost break sharply lower on any fresh low at Tuesday’s open.

Silver Dec Contract (SI, ETF: (SLV))
Retesting Thursday’s lows and also 14.60 uptrending support at Monday’s open avoided breaking lower, but didn’t reject the test, keeping alive the attraction to a break lower.

30-year Treasury Dec Contract (US, ETF: (TLT))
Friday’s inside day was also “ineffectual pessimism,” but neither was rejected without Monday reversing up, and instead only remaining within Thursday’s range.

Crude Oil Dec Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Tuesday’s Shallow narrow ranging didn’t exploit the possible bottoming forming after Friday avoided extending Thursday’s fresh low. A break higher would be credible for extending, but shouldn’t be positioned prematurely, as the pattern remains vulnerable to extending down.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Sunday night’s gap down was largely retraced Monday, before extending down much more decisively to confirm Thursday’s break to fresh lows.