The German ZEW announcement is about the only thing that we see that can move the markets during the session today, so quite frankly we expect fairly quiet trading. This could move the DAX and the Euro, but at the end of the day we believe that those markets have already made up their minds. With the currency markets essentially being very sideways at the moment, we believe that most of the action will be found in the stock markets around the world.
1 – We like the DAX and the CAC on pullbacks, as we believe the bullish potential is starting to play out. We believe that the market looks as pullbacks as “value”, and as a result that’s exactly how we will treat these markets pulling back. We believe it is only a matter time before they continue to go much higher so as a result we are very encouraged.
2 – Silver markets could offer a decent trading opportunity if we can break above the $15 level on a daily close. At the time of writing, we are sitting just below that area. If we can break above there, the $15.50 level should be calling and we will be buying calls in order to reach that area. On the other hand, if we get some type of resistant candle, it could be a put buying opportunity.
Keep in mind that we are in the dead of summer, so of course the volatility and volume is going to leave a little bit to be desired. With this, keep your trading position small, and the time frames even smaller.
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