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))
Gapping up slightly extended only so far as to fill the gap back up to Friday’s 1.1475 opening gap. Neutralizing its attraction above allows almost any initial weakness Wednesday to be credible for extending down, signaled under 1.1400.

Gold Dec Contract (GC, ETF: (GLD))
Tuesday’s slightly lower low started chipping away at 1228.00 support, after the “ineffectual optimism” of having hovered above it Monday.

Silver Dec Contract (SI, ETF: (SLV))
Monday’s consolidation had delayed extending Friday’s break under the 14.70 sell signal, but Tuesday’s break under 14.50 compensated for the delay. A second consecutive lower close Wednesday would confirm.

30-year Treasury Dec Contract (US, ETF: (TLT))
Monday’s narrow flat-to-higher ranging was followed by Tuesday’s narrow flat-to-lower ranging, all contained within Friday’s range to suggest that the first trending attempt will be false. Regardless, Friday’s break isn’t rejected, greeting Wednesday’s 30-year auction not from a position of strength, but still capable of absorbing an initially negative knee-jerk reaction down.

Crude Oil Dec Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Not maintaining 63.22 overnight had no excuse to further delay resuming the decline, and Tuesday morning plunged to 61.31. A second consecutive lower close on Wednesday would confirm that at least an eventual third lower close is required.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Tuesday’s narrow flat-to-higher ranging up to 3.58 did not even bother trying to reject Monday’s surge, which doesn’t necessarily help it to extend higher immediately, but does help to recover from a pullback to 3.42.