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))
Gapping up Tuesday tested 1.090 resistance, but didn’t signal the trend reversing up. Initial strength Wednesday would be credible for resuming the rally, but the pullback targeting 1.0750-1.0785 otherwise remains in-play.

Gold Feb Contract (GC, ETF: (GLD))
Gapping down Tuesday followed Monday’s close at or above 1074.00, which was the least reliable confirmation of Friday’s recovery being durable. Closing above 1077.70 would have been optimal, so recovering to close above it Tuesday, or extending immediately above it Wednesday, would be likely to extend sharply higher intraday.

Silver Mar Contract (SI, ETF: (SLV))
Gapping down sharply Tuesday to test 14.10 support left outstanding a gap above back up to Monday’s close. Filling it and extending above 14.35 would be likely to trend in that direction intraday.

30-year Treasury Jan Contract (US, ETF: (TLT))
Early strength Tuesday barely filled the gap back to Thursday’s 155-30 close before reacting down sharply intraday to 154-22. But the bounce remains likely to test 156-12 so long as 154-14 holds as support.

Crude Oil Jan Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Gapping down Tuesday was reversed back into positive territory, trying to avoid a second consecutive lower close that would have confirmed Monday’s breakout from a multi-session range. The session struggled at unchanged, not quite confirming the breakout, but not a reliable rejection either.

Natural Gas Jan Contract (NG, ETF: (UNG, UNL))
Fresh lows overnight at 2.01 weren’t retested post-open Tuesday, but the session struggled in negative territory to essentially confirm Monday’s breakout from a multi-session range, and to require at least a third eventual lower close before a recovery would be credible.