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 Sep Contract (EC, ETF: (FXE, UUP))
Gapping down Wednesday filled the outstanding gap from last Thursday’s close, and probed its 1.0905 low down to 1.0850. A bottom may now begin forming, but the optimal setup of instantly  rejecting the fresh low must now wait until Thursday’s close or Friday’s open. Then a valid recovery should reverse up abruptly and aggressively.

Gold Dec Contract (GC, ETF: (GLD))
Tuesday night’s reaction stopped $4 short of its 1226.50 bounce limit before resolving back down into Wednesday’s open. The decline’s next lower target at 1106.50 was tested. A bounce could test 1118.50 before signaling momentum reversing up.

Silver Dec Contract (SI, ETF: (SLV))
Wednesday’s lower lows testing 15.10 fulfilled the minimum third lower close created by the two prior sessions’ consecutive lower closes. Closing Thursday back above a prior relative low like  would be credible for reversing momentum up.

30-year Treasury Dec Contract (US, ETF: (TLT))
Fresh lows down to 154-11 continued narrowing the range back down to the 153-25 area objective.

Crude Oil Dec Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Reacting down to Wednesday’s EIA report attacked the 46.00 pullback limit that would keep alive potential for the corrective bounce to test 49.15 before ending.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Firming into Wednesday’s open held 2.31  resistance and reacted down to fill the gap back to Tuesday’s 2.25 close. A knee-jerk reaction above 2.31 on Thursday’s EIA report would be credible for extending higher.