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 no bullish reason to extend the correction any deeper, but also no need to further delay resuming last week’s confirmed breakout to fresh recovery highs.

Gold Apr Contract (GC, ETF: (GLD))
Narrow flat-to-lower ranging at or around the buy signal left it outstanding, but intact, and still likely to be triggered.

Silver Mar Contract (SI, ETF: (SLV))
Monday morning’s test of the buy signal held and was retraced into the afternoon to end negative, but not reversed down as the buy signal remains intact.

30-year Treasury Mar Contract (US, ETF: (TLT))
Friday’s gap up that had rejected Thursday’s gap down was able only to probe its 146-16 buy signal but not trigger it. Monday’s gap down doesn’t invalidate the buy signal or trigger a sell signal, and it could be only a defensive pullback ahead of Tuesday’s first of the Fed Chair’s two-day Congressional testimony. His opening remarks remain embargoed until 9:45 am ET.

Crude Oil Apr Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Friday’s gap up to prior highs had not closed higher, leaving the pattern vulnerable to a deeper pullback testing 55.85-56.05. Opening there Monday probed lower intraday to attack 55.00, needing to recover 55.10 without delay to resume the rally.

Natural Gas Mar Contract (NG, ETF: (UNG, UNL))
Closing above the 2.70 buy signal Friday extended higher immediately by gapping up Sunday and Monday. Extending higher intraday to 2.82 barely qualifies as a confirmed breakout, with room for a healthy pullback down to 2.74.