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))
Initially extending the bounce up to 1.1495 stopped short of “higher prior lows” 1.1515 before intraday action formed a bearish key-reversal that reversed into negative territory down to 1.1410. The lows require at least a retest, which closing back under 1.1400 would signal is underway.

Gold Dec Contract (GC, ETF: (GLD))
Friday’s narrow sideways ranging around 1235.00 doesn’t confirm Thursday’s steep rally, and keeps the door open to closing back under 1228.00 to resume the decline.

Silver Dec Contract (SI, ETF: (SLV))
An overnight dip initially attacked the 14.70 sell signal before rallying sharply Friday morning to attack 14.95. But that was only reversed through the afternoon to again attack 14.70.

30-year Treasury Dec Contract (US, ETF: (TLT))
A week of correlating to stocks’ direction seems to have disengaged Friday. This was despite initially probing under 138-04 more shallowly than Thursday test while stocks had gone higher. Nevertheless, crashing stocks were apparently looking elsewhere in their flight-to-safety, as fresh pullback lows fell to 137-12. Resuming the rally relies on not only avoiding a second consecutive lower close Monday, but also on Sunday night or Monday morning price action almost immediately rejecting Friday’s break to make it an anomaly.

Crude Oil Dec Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Already piercing Thursday’s lows Friday morning down to to 62.63, avoiding a new downleg depends on closing back above 63.35, and then not delaying a recovery leg.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Gapping down from Thursday’s retest of the 3.25 buy signal bounced off of its 3.17 prior low, which had also become a sell signal if pierced. The reaction was steep and substantial, reversing back up through 3.25 to retest Thursday’s 3.29 high.