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))
Still testing the 1.3320 last relative low overnight left little time to delay rallying back up through the 1.1370 buy signal and renew the rally. Its probe through the morning ended the day at 1.1370, still needing to extend higher.

Gold Feb Contract (GC, ETF: (GLD))
Flat-to-lower ranging overnight was recovered intraday, but not reversed, as the pattern continues to hover at its highs without gaining any new traction.

Silver Mar Contract (SI, ETF: (SLV))
Tuesday’s gap up above all prior highs at 14.75 had been retraced intraday to fill the gap back down to Monday’s 14.60 close. Neutralizing its attraction below allowed Wednesday’s open to retest Tuesday’s opening gap, and then trend up intraday. I’m treating this as a breakout, needing a second consecutive higher close to confirm.

30-year Treasury Jan Contract (US, ETF: (TLT))
Momentum remained pointed higher by default, so the overnight retest of the 142-30 pullback limit was likelier to hold than to break lower. It was probed to its room for noise, and can’t tolerate any delay to resuming its rally. Almost any immediate weakness Thursday would be likely to trend down.

Crude Oil Jan Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Wednesday’s reaction to the EIA report was another dip, which further undermines the basing pattern that may yet resolve up, but seems to need fresh buyers from a temporary fresh low to sponsor the recovery.

Natural Gas Jan Contract (NG, ETF: (UNG, UNL))
Tuesday’s reaction down from 4.63 resistance became a test of 4.31 support overnight, which didn’t hold. Thursday’s EIA report is being greeted from a position of weakness.