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))
Wednesday”s confirmed breakout already fulfilled its minimum requirement for at least a third lower close. Since Monday morning”s price action is likely to duplicate or to mirror Friday”s session, closing positive from probing fresh lows would be signal a bottom forming.

Gold Dec Contract (GC, ETF: (GLD))
Thursday”s retest of the 1222.80 buy signal did not immediately and aggressively extend higher Friday. Dropping instead to test prior lows at 1213.00-1215.00 didn”t gain traction, but delaying a rally makes the base”s failure increasingly likely.

Silver Dec Contract (SI, ETF: (SLV))
An overnight rally effort had disappeared before Friday”s open, but the reversal didn”t extend down intraday. And that was despite Gold probing prior lows. Back under 17.33 would start to signal a retest of prior lows, but there is otherwise no active signal.

30-year Treasury Dec Contract (US, ETF: (TLT))
The minimum 138-02 objective was probed overnight up to 138-07, but reacted down sharply to Friday morning”s econ reports. Closing above 137-25 was the minimum requirement to maintain the rally”s momentum. Consolidating under it through the close doesn”t prevent the rally from resuming to at least retest the overnight high.

Crude Oil Nov Contract (CL, ETF: (USO))
The overnight retest of the 92.00 pullback limit firmed into Friday”s open to probe back above the 93.00 and attack 94.00 to within 15 cents. A second consecutive higher close Monday would confirm.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
[Rolling coverage forward to Nov, trading at a nickel premium to Oct] Initial weakness Friday threatened the 3,91 level but recovered it to pierce Thursday”s 4.02 high. Its reaction down also threatened 3.91, and also recovered to a fresh high. Extending through resistance at 4.08 would next target 4.25