Daily Spot… And a video!

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. CLICK HERE FOR A RECORDED FRIDAY MORNING UPDATE

Eurodollar Dec Contract (EC, ETF: (FXE, UUP))
The dip targeting 1.0750-1.0785 didn’t really extend Friday, as the session was spent only ranging narrowly around Thursday’s lows.

Gold Feb Contract (GC, ETF: (GLD))
Thursday’s Descending Triangle broke higher instead of lower. The lowered 1061.50 buy signal was recovered, after probing it earlier to test the 1070.00 previous buy signal. A second consecutive higher close would launch an upleg. Back under 1057.00 would target new lows at 1038.50-1041.00.

Silver Mar Contract (SI, ETF: (SLV))
Having fulfilled the required third lower close at 13.69 Thursday, Friday’s surge recovered Wednesday’s gap up to test 14.10. Its recovery would signal a bottom is forming. Back above 14.35 would launch a rally leg.

30-year Treasury Jan Contract (US, ETF: (TLT))
The 155-29 corrective bounce target was exceeded by gapping up Friday to 156-24, which a bounce retested after filling the gap back to Thursday’s close. The sell signal is unchanged at 154-30.

Crude Oil Jan Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Fulfilling the required retest of Sunday night’s 34.50 low allowed a close above 35.45 to reverse momentum up. Its intraday test was rejected to fresh lows on the afternoon Rig Counts. The low held as support, but still needs a recover to prove a bottom is in.

Natural Gas Jan Contract (NG, ETF: (UNG, UNL))
Thursday night’s drop essentially fulfilled its potential to test 1.67 and recovered to open testing 1.80. It proved to be an inside day, still testing 1.77. But back above 1.82 and 1.85 would now seal a bottom.