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))
The ongoing decline extended through the holiday weekend to open Tuesday at 1.1400 prior lows. quick bouncing back to unchanged around 1.1420 didn’t improve any further. A buy signal can be lowered to 1.1455.

Gold Feb Contract (GC, ETF: (GLD))
Dipping to test the 1283.00 sell signal through Friday’s close had probed lower Sunday night but recovered to still test 1283.00 Tuesday. Its recover through the close would trap the interim shorts and help to fuel a steep recovery.

Silver Mar Contract (SI, ETF: (SLV))
Fresh lows coming out of the weekend had probed at least 20 cents under 15.40. Tuesday’s open had recovered to test it, and its recovery through the close would signal a bigger bounce underway.

30-year Treasury Mar Contract (US, ETF: (TLT))
Tuesday’s gap up tested the 145-08 sell signal that had finally broken lower Friday by 1 point. Initially reacting down from 145-08 and recovering to probe it was still overlapping it into the afternoon. Its recovery through the close could invalidate Friday’s break, which otherwise remains intact.

Crude Oil Apr Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Friday’s break above a multi-session range around 52.35-53.40 had formed a breakout. Probing even higher to 54.75 overnight was rejected into Tuesday’s open, which extended down intraday to test 52.35. The breakout wasn’t confirmed, but it did leave outstanding the gap back to its close that could inhibit a reversal and attempt another breakout.

Natural Gas Feb Contract (NG, ETF: (UNG, UNL))
Gapping down Sunday night from Friday’s 3.42 close had extended lower to attack Friday’s 3.20 low. Tuesday’s open broke that on the way down to “lower prior highs” attacking 3.05, which is the last opportunity for a bottom to form that could retrace recent highs.