Daily Spot…Bonds breaking?

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 Sep Contract (EC, ETF: (FXE, UUP))
Gapping down under last week’s late lows stretched the rubber band tighter, still having room down to 1.1300 before being required to snap back up, or else to break sharply lower.

Gold Dec Contract (GC, ETF: (GLD))
Despite having held its 1180.00 pullback limit as support Friday, Monday’s open gapped down and extended to test 1170.00. Gapping up Tuesday above 1180.00 would keep in-play the potential to 1195.50.

Silver Dec Contract (SI, ETF: (SLV))
Monday’s gap down to 15.85 support precedes any probe of fresh highs, miking its recovery above 15.95 likely, and likely to launch a new upleg.

30-year Treasury Dec Contract (US, ETF: (TLT))
Sunday night’s test of the 158-04 sell signal was extended intraday to 157-18 before bouncing. Being a breakout from three consecutive range-bound sessions, a second consecutive lower close Tuesday would confirm the trend had reversed down.

Crude Oil Nov Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Extending higher immediately Monday would have confirmed that Friday’s weak rally had actually rejected the prior two sessions’ “ineffectual pessimism.” Immediately dipping at Monday’s open threatened instead to invalidate Friday’s bounce.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Gapping up Monday wasn’t credible for extending higher since Friday’s drop had barely touched the prior low without yet actually probing under it..