Daily Spot… Stirring the pot.

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 up Wednesday probed above Tuesday’s high to more fully utilize the room for a bounce up to 1.1100. Having fully utilized it, I noted during the morning Tour that a reaction down had become likely and likely at least to fulfill the minimum third lower close in-play. The FOMC reaction actually plunged to new lows at 1.0933.

Gold Dec Contract (GC, ETF: (GLD))
Gapping up Wednesday through the 1170.00 buy signal extended through 1173.50 and also above 1180.00. The reaction before FOMC had attacked 1173.50. The reaction after plunged down to 1162.00, leaving no new signal.

Silver Dec Contract (SI, ETF: (SLV))
Basing around 15.85 lifted off overnight  to trend up Wednesday and test 16.35. But the FOMC reaction erased it all back down to 15.85.

30-year Treasury Dec Contract (US, ETF: (TLT))
Tuesday’s retest of the bounce limit of last Monday’s 158-10 / 158-24 highs produced another reaction down Wednesday to 157-08. Firming in reaction to FOMC held above 157-02 to delay extending the decline.

Crude Oil Dec Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Tuesday’s gap down had already indicated wider realization of the downtrend we’ve been tracking. But Wednesday’s surge developed prematurely to the likelier bounce origin that wasn’t yet reached. The bounce was nonetheless productive, testing 46.00. Back under 44.05-44.25 would signal the bounce had ended and that momentum was reversing down to at least 41.50-42.20.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
More ranging around 2.05-2.08 Wednesday continued forming a base that can launch a recovery leg if triggered back above 2.25.