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))
Thursday”s flat-to-lower ranging hovered close enough to Wednesday”s high that the door remains open to extending the recovery attempt into a durable rally leg. Early strength Friday would be credible for extending higher.

Gold Dec Contract (GC, ETF: (GLD))
Ranging narrowly sideways Thursday was no small victory compared to Wednesday”s post-close dip that had attacked the morning”s low. Holding the 1190.70 pullback limit also keeps alive the upside momentum, although the pattern probably can”t afford much more delay in extending higher.

Silver Dec Contract (SI, ETF: (SLV))
Wednesday”s post-close dip back toward the morning”s lows was recovered before Thursday”s open, and not repeated intraday, keeping alive potential for resuming the rally.

30-year Treasury Dec Contract (US, ETF: (TLT))
Gapping up Thursday above 141-12 ranged flat-to-higher, keeping the market postured to launch a rally leg. There is no high-profile econ report due Friday that might be considered a catalyst.

Crude Oil Dec Contract (CL, ETF: (USO))
Narrow ranging hasn”t been accumulative, nor did it prevent Thursday from firming $1, still testing the 95.40 bounce limit.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Overnight optimism to 4.50 ahead of Thursday”s EI report didn”t prevent reacting down to the 4.25 pullback limit. Its test reacted back up to 4.50, helping to confirm the rally”s momentum remains intact.