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))
Gapping up Thursday back above 1.2460 rejected Wednesday”s close under what had been the pullback limit. Testing 1.2495 still needs to be exceeded through the close to launch a rally leg.

Gold Dec Contract (GC, ETF: (GLD))
More relatively narrow sideways ranging at or above 1159.70 support is still delaying unnecessarily the resumption of last Friday”s rally. And that undermines whether it can resume at all without first retesting Thursday night”s lows.

Silver Dec Contract (SI, ETF: (SLV))
Narrow ranging under prior highs isn”t compelled to extend higher on any time frame. Not until actually probing a fresh high.

30-year Treasury Dec Contract (US, ETF: (TLT))
Wednesday”s failed gap up was retraced to fill the gap back down to Tuesday”s Veteran”s Day close. Thursday”s session held above the 140-20 sell signal, and firmed back up to the 141-14 buy signal.

Crude Oil Dec Contract (CL, ETF: (USO))
Spurred by Qatar becoming so concerned it announced tighter supply, my longstanding 75.40 target was finally met Thursday. Perhaps not so finally, as late-afternoon price action broke lower. Next targeting 72.00-72.75 so long as 75.40 isn”t recovered.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
EIA reports one day late this week. It is greeted by an extended pullback that nearly pierced the 3.92-3.96 pullback limit on Thursday.