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 up Tuesday left no unfinished business below since Monday’s close was within the prior range. Extending higher Wednesday would help to confirm a bottom is still forming.

Gold Dec Contract (GC, ETF: (GLD))
Tuesday’s gap up isn’t enough to undermine the downward momentum, which requires closing above 1082.00.

Silver Dec Contract (SI, ETF: (SLV))
Monday’s gap down under all prior lows to 13.97 requires being retested as support before a rally would be credible. So, Tuesday’s gap up allows filling Monday’s gap to be recovered into a rally leg.

30-year Treasury Dec Contract (US, ETF: (TLT))
Initially extending Monday’s recovery made the rally doubly dependent on closing higher Tuesday to confirm the breakout is valid. Reacting back down into negative territory undermines the recovery.

Crude Oil Jan Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Reacting up Tuesday on the Russian fighter jet downing is as valid as any other surge for forming a bottom, so long as it is confirmed by a second consecutive gain — if not also a surge — Wednesday.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Gapping down Tuesday to retest Friday’s low and recovering back to unchanged can now begin to form a bottom, but only so long as any probe of fresh lows intraday is recovered to close positive. Any initial strength Wednesday would be credible for extending higher intraday.