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))
The correction of Thursday’s surge extended a little deeper Monday to attack 1.080, still having room down to 1.0750-1.0785 before resuming the rally.

Gold Feb Contract (GC, ETF: (GLD))
Monday’s pullback did not invalidate Friday’s rally, holding 1074.00 as support. Rallying early Tuesday would be credible for extending higher intraday.

Silver Mar Contract (SI, ETF: (SLV))
Friday’s rally wasn’t extended Monday, but neither was it rejected, confirming that a bottom has formed. Rallying early Tuesday would be credible for extending higher intraday.

30-year Treasury Jan Contract (US, ETF: (TLT))
Friday’s overly-aggressive bounce was duplicated Monday, already retesting last Wednesday’s range. Potential to probe fresh highs up to 156-12 remains intact, and no less likely, but not required if pullbacks can’t hold 154-14 as support.

Crude Oil Jan Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Last week’s retest of the $41 base down to $40 had yet to reverse up. Monday’s gap down exploited that delay, and extended down sharply to fresh lows at 37.50. A buy signal cannot be generated for Tuesday, but a second consecutive lower close would confirm a new downleg underway.

Natural Gas Jan Contract (NG, ETF: (UNG, UNL))
Monday’s open gapped down to and through last week’s 2.13 low, and later extended down to fresh lows at 2.06.