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))
Monday”s reaction down from testing 1.2495 resistance had retraced 61.8% of the bounce from testing 1.2400 support. Tuesday firmed back up to 1.2495, and shouldn”t hesitate before extending higher.

Gold Dec Contract (GC, ETF: (GLD))
Monday”s pullback to 1259.70 support had extended down after the close to also test 1250.00. Closing back above 1259.70 Tuesday confirmed the pullback had ended. In fact, post-close action extended higher.

Silver Dec Contract (SI, ETF: (SLV))
Firming Tuesday back up to 15.75 doesn”t yet signal a bottom has formed, but almost any immediate follow-through Wednesday would be credible for extending higher intraday.

30-year Treasury Dec Contract (US, ETF: (TLT))
Monday”s reaction down had failed to hold the base”s breakout point. Initially lower lows Tuesday were recovered. A bottom would be triggered by closing above 141-14.

Crude Oil Dec Contract (CL, ETF: (USO))
Monday”s bounce to 78.70 resistance had reacted down Tuesday to  within $1 of the outstanding 75.40 target. Tuesday”s low also stopped optimistically short of touching last week”s low, which is potentially bearish from a contrarian perspective.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Monday night”s dip to the 4.25 minimum pullback objective extended down to its next potential low at 4.12. Closing back above 4.25 would signal the rally had resumed, confirmed above 4.37.