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1 – Looking at the EUR/USD pair, we believe that this market continues offer call buying opportunities every time we pullback. In the meantime though, we also recognize that the 1.15 level above is massively resistive, so we need to build up momentum to break out finally. We do believe that’s going to happen sooner or later, but in the meantime we need to pullback in order to attract more buyers. We continue to buy calls on supportive candles, and have no interest in buying puts.
2 – Silver markets took off to the upside as we continue to break out towards the 18.50 level. Now that we have cleared the top of the hammer from the Friday session, the market looks like it’s ready to continue going higher so we are buying calls on short-term pullbacks. We like the silver markets, as the US dollar continues to get beat up around the world.
3 – The S&P 500 fell initially during the session on Monday, but turned back around in order to form a rather positive looking candle. Because of this, we feel that the market should continue to go much higher, perhaps heading as high as 2200 as it is our longer-term target. With this, we buy calls only, and have no interest whatsoever in buying puts as the S&P 500 continues to be one of the better performing markets that we follow, and now that we have cleared the 2125 level, we feel that we are completely free to go much higher.
