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 10-day old gap back to the high’s session’s 1.1490 close was filled at Monday’s highs after gapping up and trending higher intraday. There is no bearish reason to extend any higher, so reversing back under 1.1425 would signal a new downleg underway.

Gold Dec Contract (GC, ETF: (GLD))
Flat ranging overnight never resolved in either direction Monday, which also means the bounce limit’s test wasn’t rejected back under its 1220.50 sell signal.

Silver Dec Contract (SI, ETF: (SLV))
Flat ranging overnight firmed slightly intraday Monday, still vulnerable to resolving down and erasing last week’s rally.

30-year Treasury Dec Contract (US, ETF: (TLT))
Dipping overnight to test recent sessions’ 139-08 “lower prior highs” held its test through Monday’s open and returned up to Friday’s highs at 139-30, capable of extending the rally.

Crude Oil Jan Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Friday’s rejection of its opening gap extended down Sunday night and Monday morning to retest last Tuesday’s plunge low as the pattern required. But only a retest of its 55.75 intraday low, and not of its 54.90 overnight low. The afternoon’s bounce up to 56.95 can get a benefit of the doubt for extending higher if confirmed Tuesday by a second consecutive higher close.

Natural Gas Dec Contract (NG, ETF: (UNG, UNL))
Already rallying Sunday night has truncated a healthier pullback, making a gap-fill back up to Wednesday’s 4.82 close likelier to hold and complete a top. Monday’s gap up extended to attack the gap to within a nickel.