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 Mar Contract (EC, ETF: (FXE))
Friday”s shallow Pivotal Correction pattern was able to produce a gap up to fresh highs Sunday night testing 1.1865 resistance, but the balance of the session ranged back down to 1.1825 support. The effects of the Pivotal Correction pattern are largely moot.

Gold Feb Contract (GC, ETF: (GLD))
Delaying the pullback did extend higher to fulfill the minimum required third higher close. Having rallied overnight to 1231.30 before opening back under last week”s 1223.00 high. Recovering intraday tested 1232.00, which was extended post-close up to 1236.00. Closing above 1241.50 would signal a more substantial rally underway.

Silver Mar Contract (SI, ETF: (SLV))
Despite remaining in positive territory all day after gapping up, the narrow range was an inside day that is would confirm new lows in-play back under 16.20.

30-year Treasury Mar Contract (US, ETF: (TLT))
Firming Monday.through Friday”s highs extended higher intraday to attack 148-23 as resistance. Its break as support had triggered the interim pullback to 146-18. Back above 148-23 could probe 150-00, albeit probably only momentarily before reversing down more aggressively.

Crude Oil Feb Contract (CL, ETF: (USO))
Delaying the recovery from 47.45 did dip into Monday morning to fulfill the room for noise down to 45.90. That was the low, and it wasn”t recovered. Closing lower Tuesday would confirm Monday”s breakout from a multi-session range which requires at least one more lower close. More so, it would break too far away from 47.45 to recover prior to an extended decline. Closing back above 47.45 Tuesday could start to seal a bottom.

Natural Gas Feb Contract (NG, ETF: (UNG, UNL))
Sunday night”s reaction down from Friday”s test of 2.98 resistance
 produced a gap down Monday under the ~2.83 prior lows that that extended to 2.78. There is no active buy signal.