Daily Spot… Resuming the persistent trends?

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))
Probing fresh lows Monday didn’t trend down, but the optimal bottoming pattern would have rallied already into the afternoon. Initial strength Tuesday would still be credible for extending higher intraday, but nothing any later would be as reliable.

Gold Dec Contract (GC, ETF: (GLD))
Trending down Sunday night retested last week’s 1064.00 intraday low but not its overnight low $2 lower. The nearest buy signal in this pattern remains a close above 1082.00.

Silver Dec Contract (SI, ETF: (SLV))
Sunday night’s drop probed fresh lows Monday but recovered above prior lows later. None of which is a buy signal, and not confirming an immediate recovery attempt would likely launch a new downleg.

30-year Treasury Dec Contract (US, ETF: (TLT))
Monday’s gap down filled the gap back Wednesday’s close, fulfilling the minimum consequence to Thursday’s failed breakout. Bouncing immediately from there extended higher intraday to close again back above the 154-10 signal.

Crude Oil Jan Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Fresh lows overnight were recovered on Saudi defensive statements. Iranian comments sent price back down, but never back to overnight lows or even under prior intraday lows. The pattern still requires a surge and then next day follow-through to avoid launching a new downleg already.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Bouncing Monday helped to set the stage for attacking Friday’s low again  to form a bottom. No other setup would qualify as bullish at this stage of the pattern.