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))
Monday’s open gapped down under all prior lows and trended down intraday for the fourth consecutive session. The lower close already fulfills the minimum third lower close required by the confirmed breakout. But the persistent sentiment suggests bleeding into at least another session or more.

Gold Dec Contract (GC, ETF: (GLD))
Probing fresh lows overnight extended Monday to attack the 1201.50 objective, whose break would put into play 1172.50.

Silver Dec Contract (SI, ETF: (SLV))
Avoiding fresh lows overnight didn’t prevent resuming the decline Monday morning down to 14.00. Hovering at or above September’s low suggests “ineffectual optimism” that is bearish from a contrarian perspective. .

30-year Treasury Dec Contract (US, ETF: (TLT))
Having recovered from prior lows Friday up to the 138-04 buy signal, Sunday night easily began probing above it. But gapping up to 138-12 only fluctuated flat-to-higher, and has yet to actually rally.

Crude Oil Dec Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Gapping up above Friday’s low formed the basis of a reversal pattern, if it could be maintained and extended. Which it wasn’t. But at least its failure filled the gap back down to Friday’s close, so any initial strength Tuesday would be credible for extending higher intraday.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Already extending to fresh highs at 3.90 Sunday night was unsustainable, so Monday’s open gapped up only to test Friday’s highs around 3.80 and then range sideways. The “ineffectual optimism” makes any initial reversal down Tuesday likely to extend intraday, targeting 3.42.