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))
Tuesday’s 1.1425 sell signal was retested as resistance overnight and into Wednesday’s open, and still being tested through the session by an inside day which neither confirms nor invalidates the signal.

Gold Dec Contract (GC, ETF: (GLD))
Overnight firming extended to fresh recovery highs Wednesday morning attacking 1231.00, but essentially hovering under Monday’s 1228.00 high. The 1220.50 sell signal remains active.

Silver Dec Contract (SI, ETF: (SLV))
Overnight firming extended to fresh recovery highs Wednesday morning at 14.55 to test another “higher prior low” and gap. A break back under 14.32 is now needed to reverse the trend back down.

30-year Treasury Dec Contract (US, ETF: (TLT))
Tuesday’s fresh highs reacted down Wednesday morning to hover just under Monday’s 139-24 prior highs, without reversing momentum down or invalidating the upside momentum.

Crude Oil Jan Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
It’s still too soon for any credible bottoming to develop when Tuesday’s plunge requires at least being probed to fresh lows. That didn’t prevent gapping up to retrace Tuesday’s late downleg from 54.30, back into Tuesday’s mid-day range, and then extending higher to test 55.85. But the inside day does not reverse momentum up.

Natural Gas Dec Contract (NG, ETF: (UNG, UNL))
Extending Tuesday’s recovery overnight tested the gap back to last Wednesday’s 4.83 close, but had backed off already pre-open to avoid filling the gap intraday. An intraday gap fill remains likely, especially so long as 4.38 holds as support through the close.