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))
The longstanding 1.1394-1.1430 target that was already met last week was retested Tuesday. Friday’s gap down under all prior lows was retested, but its test did not trigger a reaction up. Not already rallying early Wednesday would be likely to extend the breakout another 1-2 sessions.

Gold Dec Contract (GC, ETF: (GLD))
Dipping pre-open to 1221.50 was recovered to only test 1224.50 intraday. But the 1228.00 sell signal held a test as resistance, so any initial weakness Wednesday would be credible for extending down intraday.

Silver Dec Contract (SI, ETF: (SLV))
Extending Monday’s break under the 14.57 sell signal to 14.40 support only hovered there through Tuesday, still vulnerable to resuming the decline.

30-year Treasury Dec Contract (US, ETF: (TLT))
Stocks in positive territory Tuesday mean no flight-to-safety, allowing Monday’s pullback to extend a little deeper and fill the gap back down to Friday’s 138-22 close. The bullish pattern could tolerate only a slight delay in resuming its rally.

Crude Oil Dec Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Having failed to maintain repeated probes of the 67.25 buy signal, a break lower had become likely. Tuesday’s gap down to the range’s 65.75 lower-end quickly fulfilled the objective, and held through the close. Avoiding a second consecutive lower close Wednesday would be bullish. Meanwhile, Tuesday’s post-close API is being greeted from a position of weakness that suggests at least probing lower temporarily.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Tuesday’s gap up surged to fill the gap back up to Thursday’s 3.25 close. Reacting down filled the gap back to Monday’s close. Extending down under 3.14 would launch a new downleg. Back above 3.25 would be much likelier to break higher on its second attempt.