Market Analysis & Trading Opportunities - June 29, 2015

Video Length: 00:02:02

In general, the Monday session will be fairly quiet as most economic announcements tend to come out later in the week. The one exception of course is the German CPI numbers, as they will move both the Euro and the DAX, but in general we think that this is more or less going to be a technically driven day more than anything else.

1 – Ultimately, we believe that the DAX will go higher, and a move above the €11,600 level is in fact the green light to continue going higher and have us buying longer-term calls. In the meantime, we like buying short-term pullbacks because we believe that the German index will be one of the better performers in the European Union.

2 – Silver markets struggled initially during the course of the session on Friday, but formed a massive hammer which of course is a bullish sign. Because of this, we recognize that the 15.50 level is in fact a massive support level. The hammer that formed suggests to us that we are getting ready to bounce from here and head back to the $16.25 level. We are bullish and are buyers of calls every time this market dips or breaks above the top of the range for Friday.

3 – We believe that the US stock markets in general will continue to be positive, but recognize that during this time year volatility in choppiness is a fairly normal condition. We believe that the S&P 500 is finding a bit of support at the 2100 level, but we think that the support runs all the way down to the 2070 level. Ultimately, we believe that the market will break out but it might be the end of the summer before we see a larger move. We continue to buy short-term calls on short-term pullbacks.