See Today’s Trading Opportunities Below – Watch The Video For Full Market Analysis
1 – The GBP/USD pair fell slightly during the session on Friday, as we continue to grind our way higher. We believe ultimately the 1.55 level have to be tested for the sellers to take back over completely though, so we are simply going to let this market rise to that area as it grinds away. In that general vicinity, we are willing to buy puts as the market should then drop back down to the 1.53 level.
2 – The DAX(GDAXI) try to break out during the session on Friday, but the €11,000 level offered so much in the way of resistance that we ended up turning right back around and form a massive shooting star. That shooting star of course is very negative, and therefore we feel that a pullback is probably coming. The pullback should offer buying opportunities below though, as we will go long via calls.
3 – We believe that the S&P 500 (SPX) is trying to build up enough momentum to break out and above the 2100 level. That being the case, we are buying calls on short-term dips as the market should ultimately break out and spring much higher. Think of it as a beach ball been held underwater. Once you release the all, it shoot straight up in the air. We believe that the S&P 500 may actually do that. With that, we have absolutely no interest in buying puts.
