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))
Te new week continued its ranging between 1.2750 support and 1.2835 resistance. The extended ranging suggests that the first break in either direction will be false and then reversed more substantially in the opposite direction.

Gold Dec Contract (GC, ETF: (GLD))
Since Friday failed to reject Tuesday”s break above 1231.00, freh highs up to 1259.00 became likely. Sunday night”s action already tested last week”s 1249.00 highs .

Silver Dec Contract (SI, ETF: (SLV))
Gapping up Monday still reversed back into the ongoing 17.25-17.40 range that has continually attracted price back to it for the past couple of weeks, still offering no setup or signal.

30-year Treasury Dec Contract (US, ETF: (TLT))
Narrow sideways  ranging suggests the pattern will try to absorb the recent wide gyrations, perhaps through Tuesday, before trying to trend again.

Crude Oil Dec Contract (CL, ETF: (USO))
[Rolling coverage forward to Dec, a 70-cent discount to Nov] A deeper test of the 81.80 pullback limit Monday was recovered back to 82.30, suggesting the dip was only temporary if not also intended to create a rubber band effect that extends higher sharply.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Two days of downward momentum not gaining traction didn”t prevent Monday”s open from gapping down under prior lows and extending to 3.66. There is no active signal.