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))
Gapped down sharply Friday to 1.2400 support and eventually trended down through there, but not touching the 1.2360 prior low. Trending down on a Friday is somewhat likely to trend down Monday morning — at least, that”s the initial filter to view Monday morning”s action.

Gold Dec Contract (GC, ETF: (GLD))
Friday gapped up to fresh highs but didn”t extend higher before reversing down to fill the gap back to Thursday”s close. The gap held and the session closed positive, confirming that 1226.00-1229.00 is in-play.

Silver Dec Contract (SI, ETF: (SLV))
Gapped up sharply Friday but only to test recent highs before reversing down. Momentum did not reverse down and positive territory was maintained.

30-year Treasury Dec Contract (US, ETF: (TLT))
Initially no movement through Friday”s open despite having closed Thursday above the 141-12 signal, but firmed through the session to test 142-00. That”s still within the range, and not yet at an inflection point requiring the slope to steepen.

Crude Oil Jan Contract (CL, ETF: (USO))
Friday gapped up sharply in reaction to China”s interest rate cut, although price was already firming overnight before the news. Resistance at 77.75 was expected to hold, and did reverse price down to fill the gap back to Thursday”s close $2 lower. The balance of the session ranged sideways back to 76.50.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Gapping down Friday to the 4.25 pullback limit wasn”t rejected intraday, but the support held, and left outstanding a gap above back to Thursday”s 4.50 close.