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 had fulfilled the minimum objective of Thursday’s confirmed breakout, creating vulnerability to a bounce, which developed overnight but not until probing fresh lows at 1.1245. Gapping up within Monday’s range was reversed back into Monday’s range after temporarily probing above it, which doesn’t reverse the trend up.

Gold Dec Contract (GC, ETF: (GLD))
Post-close action Monday had tested the decline’s minimum 1201.50 target, whose break would next target 1172.50. Fresh lows Tuesday probed further under  the signal and then held its test as resistance.

Silver Dec Contract (SI, ETF: (SLV))
Tuesday’s fresh lows didn’t extend, certainly not at any aggressive pace, but the decline’s momentum remains intact.

30-year Treasury Dec Contract (US, ETF: (TLT))
Monday’s gap up was not extended overnight or Tuesday morning, which instead opened back down to the 138-04 buy signal that is awaiting a valid trigger. Recovering into the afternoon pierced positive territory sporadically, still likely to extend higher aggressively if extending higher at all.

Crude Oil Dec Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
A post-close slide to fresh lows Monday foreclosed upon the 61.00 buy signal that could have triggered after Monday’s intraday bounce. The slide became a plunge — the deepest in 3 years — down to 55.70 intraday, and continued sliding post-close.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Trending up to fresh highs overnight ignored Monday’s “ineffectual optimism” and its vulnerability to launching at least a corrective dip. The pattern of two breakouts interrupted by a non-confirmation often produces another non-confirmation Wednesday, which would be vulnerable to reversing down into the afternoon.