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 morning did not duplicate Friday”s post-open uptrend. A pullback to the 1.2495 breakout signal did not hold as support. But 1.2460 was still being tested, so another breakout attempt Tuesday is still possible.

Gold Dec Contract (GC, ETF: (GLD))
Flat-to-slightly lower narrow ranging Monday avoided touching the 1178.40 pullback limit, keeping alive Friday”s momentum. But Friday”s breakout wasn”t confirmed by a second consecutive higher close, so there is little reason not to resume the rally Tuesday.

Silver Dec Contract (SI, ETF: (SLV))
Monday”s gap down created an attraction back up to Friday”s close. Regardless, the pullback should be isolated to one session, and Tuesday should make clear whether the rally attempt is valid.

30-year Treasury Dec Contract (US, ETF: (TLT))
Despite gapping up to attack 142-12 Monday morning, the gap back down to Friday”s close attracted price back down through the morning. Sellers did not gain traction, but the rally has little reason to be delayed any further if a bottom is actually forming.

Crude Oil Dec Contract (CL, ETF: (USO))
Monday”s opening weakness suggested Friday”s late blip-up through the 75.40 bounce limit was only a weekend risk premium. But the balance of the session ranged narrowly, and didn”t resume the decline that is still targeting 72.00-72.75.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Greeting Friday”s EIA report from the 3.92-3.96. support got a benefit of the doubt for having overly-discounted a potentially negative reaction. The modestly optimistic reaction up became much more pronounced Monday. The gap up extended through resistance to attack 4.37. The rally has resumed, with pullbacks now having room down to 4.25.