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 Mar Contract (EC, ETF: (FXE, UUP))
Wednesday’s extended dip back under a week of prior lows was rejected by Thursday’s open gapping back up above those lows to 1.1450. Extending higher closed above the 1.1500 buy signal, now needing a second consecutive higher close Friday to confirm.

Gold Feb Contract (GC, ETF: (GLD))
Gapping back down Thursday within Wednesday’s range doesn’t invalidate the ongoing rally, but it does add a degree of urgency to not only meeting the 1284.00 target but also exceeding it.

Silver Mar Contract (SI, ETF: (SLV))
Gapping up and probing higher Thursday helps to confirm Wednesday’s breakout, which would require an eventual third higher close.

30-year Treasury Mar Contract (US, ETF: (TLT))
There was only a little more room for weakness under Wednesday’s low, which overnight action tested before Thursday’s gap up to and through the 145-08 buy signal. A second consecutive higher close Friday would resume the rally.

Crude Oil Feb Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Wednesday’s surge wasn’t going to trigger a reversal signal, but a dip down to 44.15 or 43.25 could start forming a reversal setup. Thursday’s low came within 10-15 cents of the pullback target’s upper-end.

Natural Gas Feb Contract (NG, ETF: (UNG, UNL))
Wednesday’s recovery from having fulfilled the 3.27 target (basis Feb, 3.33 basis Jan) was extended Thursday, which helps to confirm the target does end the decline, and that a bottom can now begin forming.