Daily Spot… Skid marks

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 bounce extended even higher Tuesday, still without any buy signal, and without there having been any accumulation. Resistance was tested at 1.1075, and reacted down to attack 1.1000, whose break would start to signal momentum may be reversing back down.

Gold Dec Contract (GC, ETF: (GLD))
Sharply higher highs overnight tested 1119.00 before reacting back down under 1105.00 and 1108.50, needing to recover both — and preferably also 1112.00 — to confirm momentum remains pointed up.

Silver Sep Contract (SI, ETF: (SLV))
Gold”s overnight extension was ignored but its reaction down was more influential. Regardless, there is no bullish reason to further delay a more obvious rally leg Wednesday.

30-year Treasury Sep Contract (US, ETF: (TLT))
Gapping back up extended higher to fill the gap back to Fridays” 158-18 close and to probe Friday”s high, probing fresh highs above. Topping signals must appear almost immediately to avoid extending higher to 160-20. Topping signals such as closing back under 158-08 or lower

Crude Oil Sep Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
An overnight surge peaked suddenly upon touching the 45.15 bounce limit, resolving down in new lows probing under Sunday”s gap down and under 43.00.

Natural Gas Aug Contract (NG, ETF: (UNG, UNL))
Monday”s testing of 2.83 didn”t extend higher overnight, and faced pushback intraday Tuesday, still needing to close above 2.83 and 2.88 to launch an upleg.