Daily Spot… Grab Gold?

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))
Having gone out Tuesday still testing the 1.1265 bounce limit, gapping down Wednesday suggests the outstanding objectives to fresh lows are back in-play.

Gold Dec Contract (GC, ETF: (GLD))
Gapping down $6 to 1120.50 Wednesday quickly extended down to the 1117.00 target. It was probed intraday under 1111.00, but the close was back to testing 1117.00 as resistance. Closing lower Thursday would target new lows, but the pullback has otherwise ended.

Silver Dec Contract (SI, ETF: (SLV))
Fresh relative lows intraday Wednesday still managed to recover back up to 14.50 to avoid putting into play fresh lows under 14.20.

30-year Treasury Dec Contract (US, ETF: (TLT))
Gapping down Wednesday similarly to Tuesday resolved differently, at least so far, but not recovering to fresh highs. Just consolidating narrowly barely avoided actually filling the gap back up to Tuesday’s close, but clearly avoided triggering the 156-16 sell signal.

Crude Oil Nov Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Narrow flat ranging in the wake of Tuesday’s post-close API data and Wednesday morning’s EIA report doesn’t reflect strength. But neither is it any more predictive than the pattern already in-play, and looking for 42.80 below.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Ending Tuesday by still only overlapping last Thursday’s 2.59 low hardly inhibited Wednesday from extending down much more deeply to test 2.51. This new low is not greeting Thursday’s EIA report from a position of strength.