Daily Spot… Settling scores.

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))
The corrective bounce’s retracement extended down Tuesday to test Thursday’s 1.0960 gap up from the low close. Probing a fresh low Wednesday under 1.0903 and closing positive on the day would be the optimal bottoming pattern at this stage.

Gold Dec Contract (GC, ETF: (GLD))
Gapping down and trending lower intraday probed the next objective at 1118.00 down to 1114.00. Bouncing immediately back above 1126.50 could produce a corrective bounce to 1146.00. Otherwise, extending any deeper would target 1106.50 and 1094.50.

Silver Dec Contract (SI, ETF: (SLV))
Gapping down Tuesday to Monday’s lows didn’t prevent extending down to fresh lows intraday. Barely qualifying as a second consecutive lower close to confirm Monday’s breakout, now at least a third lower close is likely unless Monday’s 15.40 close were recovered immediately

30-year Treasury Dec Contract (US, ETF: (TLT))
The ongoing decline extended to its lowest levels Tuesday. Near-term support is 154-16, and any lower would next target 153-22. Closing back above 155-14 would start to signal momentum reversing back up.

Crude Oil Dec Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Multi-session narrow hovering around the 46.00 bounce limit has resolved before reversing back down. Tuesday’s test of 48.20 is likely also to visit 49.15. I still consider this only a corrective bounce, but any higher would be vulnerable to extending much higher regardless of its label.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Tuesday’s narrow ranging didn’t exploit Monday’s “ineffectual pessimism,” which still needs to recover 2.31 and 2.37 to signal momentum reversing up.