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 Dec Contract (EC, ETF: (FXE, UUP))
Friday’s dip still has room down to  1.0770 as a normal correction of Thursday’s surge, without reversing the trend down.

Gold Feb Contract (GC, ETF: (GLD))
Gold’s gap up from 1062.00 Friday was retested from 1071.00 after the payrolls report, but it was recovered and extended to test 1083.00. A second consecutive higher close Monday would confirm the trend has reversed up.

Silver Mar Contract (SI, ETF: (SLV))
Gapping up Friday above the 14.10 buy signal extended sharply higher intraday to test 14.60. A second consecutive higher close Monday would confirm a new rally leg is underway.

30-year Treasury Jan Contract (US, ETF: (TLT))
Friday’s initial weakness stopped 4 ticks short of fully utilizing the room for extending Thursday’s plunge down to 151-08. Its reaction to payrolls reversed up sharply to test 154-00. That was a lot fast than anticipated, so a corrective dip to 152-18 wouldn’t be surprising before recovering 154-14 on the way to 156-12.

Crude Oil Jan Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Official news from OPEC triggered a gap down that spent Friday ranging choppily around Wednesday’s lows. Holding the test and closing above Thursday’s 41.75 high would now launch a new rally leg.

Natural Gas Jan Contract (NG, ETF: (UNG, UNL))
Narrow sideways ranging Friday followed Thursday’s EIA reaction which wasn’t greeted from a position of strength.