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))
Retracing Monday”s gap up was likely because Monday morning”s tend to duplicate Friday”s price action, and Friday”s price action was down. Despite rejecting the gap up and having the excuse to trend back down, Friday”s lows held through the day. None of which is a signal, but early strength Tuesday would be credible for extending higher.

Gold Dec Contract (GC, ETF: (GLD))
Bouncing overnight extended higher by enough Monday to nearly touch the 1220.80 buy signal. But it once again failed to trigger. The attempt doesn”t change the pattern, which remains dangerously close to the precipice of tumbling into a new sizable downleg.

Silver Dec Contract (SI, ETF: (SLV))
Monday”s sideways ranging didn”t threaten to trend, and only extended the ongoing range. There is no active signal.

30-year Treasury Dec Contract (US, ETF: (TLT))
Rallying through the stock market”s decline Sunday night probed fresh highs up to 138-19, creating potential for extending higher to 139-12/139-24 so long as pullbacks now hold 137-24 as support. Regardless of whether the higher targets are met or if the pullback limit fails, this leg is still considered only a corrective bounce.

Crude Oil Nov Contract (CL, ETF: (USO))
Friday”s buy signal above 93.00 was retraced Sunday night, but the rally resumed after Monday”s open and extended to test 94.65 that confirmed Friday”s trigger.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Firming Sunday night extended through 4.08 resistance Monday to test 4.15, next targeting 4.25 so long as 4.08 now holds as support.