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))
Wednesday’s probe of fresh highs wasn’t likely to extend, but Thursday’s gap down under last week’s 1.0985 prior high hasn’t yet proved momentum is reversing down. A correction can fill the week’s two lower outstanding gaps below and then resume the rally. Retesting Wednesday’s high first would make the next downleg more durable.

Gold Feb Contract (GC, ETF: (GLD))
Gapping down Thursday back under 1074.00 support didn’t extend down, keeping the window open for a break above 1077.70 to extend higher intraday.

Silver Mar Contract (SI, ETF: (SLV))
Still hovering at or above the rally attempt’s original 14.10 target still makes a break above 14.35 likely to extend sharply higher intraday.

30-year Treasury Jan Contract (US, ETF: (TLT))
Hovering Thursday just under Wednesday’s highs maintains the upside momentum that still targets a fresh high at 156-12.

Crude Oil Jan Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
After having neutralized the attraction at Monday’s gap down, hovering narrowly just off recent lows all but ensures probing fresh lows down to 36.25. Recovering to close positive the same day would suggest a bottom had formed.

Natural Gas Jan Contract (NG, ETF: (UNG, UNL))
Thursday’s EIA report was not being greeted from a position of strength. But also not from a position of weakness, which didn’t prevent trending down gently in reaction to the news. An immediate reversal from this setup would not be credible.