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))
Still overlapping the 1.1500 buy signal into year-end has resolved by gapping down into the new year. No sell signal is active, and the buy signal remains unchanged.

Gold Feb Contract (GC, ETF: (GLD))
Fresh highs overnight made another isolation of the 1284.00 target unlikely, which also makes the pattern likely to extend to its next higher target at 1319.50 so long as 1284.00‘s recovery now holds — which was being tested as support at the close.

Silver Mar Contract (SI, ETF: (SLV))
Flat-to-lower ranging overnight doesn’t require resolving up, but there is no active sell signal. Resolving up anyway would confirm the rally’s momentum remains intact.

30-year Treasury Mar Contract (US, ETF: (TLT))
Rallying into the new year has confirmed Monday’s breakout from a multi-session range, now requiring at least an eventual third higher close before a reversal down can be credible.

Crude Oil Feb Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Another night of weakness narrowly avoided probing into the preferable 43.35-44.15 pullback limit before rallying through the 47.00 buy signal. Wednesday morning did probe it by almost 80 cents, at least proving the pattern’s pent-up buying pressure. Actually triggering the buy signal would still require a second consecutive higher close to confirm, and to avoid testing the preferable 43.35-44.15 pullback limit.

Natural Gas Feb Contract (NG, ETF: (UNG, UNL))
An overnight retest of Monday’s fresh pullback low to another low at 2.90 has stretched the rubber band to the point of all but requiring a snap back up to avoid extending down much deeper.