Daily Spot… Trending returns.

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 Dec Contract (EC, ETF: (FXE, UUP))
Several consecutive sessions of probing prior lows without breaking lower were possibly rejected by Tuesday’s gap up into the range that trended higher intraday. Closing Wednesday above 1.0650 would signal a rally leg underway.

Gold Feb Contract (GC, ETF: (GLD))
Tuesday initially extended the corrective bounce to 1074.00 from Friday’s gap down, but it was retraced to close back in negative territory under 1065.00 “higher prior lows.” Now that they’ve been tested as resistance, Friday’s 1054.50 gap under all prior lows can be filled to form a durable bottom.

Silver Mar Contract (SI, ETF: (SLV))
Gapping up Tuesday to probe above 14.20 was retraced to fluctuate around unchanged, despite there being no outstanding “unfinished business below” attracting price down.

30-year Treasury Jan Contract (US, ETF: (TLT))
One week of consolidating recent gains without buyers gaining any traction was nevertheless extended sharply higher by 2 points Tuesday, surging to the lower-end of 155-29/156-12 resistance. It should be tested fully so long as 155-00 now holds pullbacks as support..

Crude Oil Jan Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Already having waited too long for the recent basing pattern to launch a rally, Tuesday morning’s dip back toward the range’s 41.00 low was unable to attract sponsorship for probing lower. And a fresh low has become required prior to a credible rally.

Natural Gas Jan Contract (NG, ETF: (UNG, UNL))
Tuesday’s fresh lows were recovered back into the recent 2.20-2.25 range, still not requiring any lower close before a credible recovery could begin.