Daily Spot

A daily summary of high-profile members of several complexes…[pay] View a more detailed discussion of each at the end of today’s Market Wrap.

Today’s Highlight Gold’s attempts to firm during the holiday each held their bounce limits, suggesting that sellers have refueled to launch a new downleg to fresh lows.

Dollar Basket Mar Contract (DX, ETF: (UUP, UDN)) Fresh highs over the holiday attacked 80.85 resistance, before Tuesday dipped back into negative territory, potentially rolling over to test 80.15-80.25 support.

Eurodollar Mar Contract (EC, ETF: (FXE)) Still not resuming the decline, and only firming Tuesday, all in-line with the lower-wider trading range. Testing resistance at 1.3425-1.3450 could react back down to the range’s 1.3330-1.3350 lower-end.

Gold Apr Contract (GC, ETF: (GLD)) Bounces to 1618.00 and then to 1615.00 each retraced back under the 1610.00 bounce limit. The latest retracement Tuesday attacked 1600.00, whose break lower would target 1589.00-1592.00.

Silver Mar Contract (SI, ETF: (SLV)) The potential to 29.30-29.35 was fulfilled Tuesday morning, and held as support, but reversing up requires first recovery 29.75.

30-year Treasury Mar Contract (US, ETF: (TLT)) Probing above 143-18 up to 143-26 Tuesday was reversed back down to 143-04 support, whose break would resume the downleg targeting 141-26.

Crude Oil Mar Contract (CL, ETF: (USO)) Tuesday firmed back up to 96.60-96.70 resistance, whose recovery is the minimum requirement to even consider that another upleg may be forming.

Natural Gas Mar Contract (NG, ETF: (UNG, UNL)) Tuesday’s open fired and the session eventually surged to test 3.25. Big resistance at 3.30 must be recovered before even contemplating that 3.33-3.36 can be probed to trigger another upleg.

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