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.

FRIDAY”S DAILY WRAP WILL BE PUBLISHED OVER THE WEEKEND.

Eurodollar Dec Contract (EC, ETF: (FXE))
Wednesday”s inside day that was biased upward was likely to resolve down, despite probing slightly higher overnight. But the lower-end of the range was probed Thursday afternoon, now all but requiring the pattern to trend down obviously if a bigger bounce is to be avoided.

Gold Feb Contract (GC, ETF: (GLD))
Gapping down Thursday to test 1216.00 was recovered back into positive territory testing 1233.00, still likely to probe above 1239.00 before a downdraft would be credible for extending.

Silver Mar Contract (SI, ETF: (SLV))
Gapping down slightly Thursday was recovered entirely. Just avoiding a close under 16.95 still gets every benefit of the doubt of resolving higher.

30-year Treasury Mar Contract (US, ETF: (TLT))
The 144-14 target was pierced by 1 tick overnight before reacting down under 144-04 into Thursday”s open, eventually testing 143-11. Closing under 144-04 would suggest fresh highs are no longer in-play, but it was still being attacked late Thursday.

Crude Oil Jan Contract (CL, ETF: (USO))
Still overlapping 60.33 through Thursday”s close, despite also probing under it, prevents triggering a new target. That might be combined with the geopolitical risk premium that often firms into the weekend. But only aggressive rallying at this stage would be credible for forming a bottom.

Natural Gas Jan Contract (NG, ETF: (UNG, UNL))
Wednesday”s close above 3.69 wasn”t confirmed by a second consecutive higher close Thursday. A higher high was probed in reaction to EIA, but that reacted back down under 3.69. Back above 3.69 Friday would be credible for extending higher intraday.