Today's Trading Tips & Market Analysis - February 4, 2015

Video Length:00:02:20

Watch the video for full Market Analysis – Tips Below

1 – During the Thursday session, we anticipate that the silver markets will probably be fairly volatile. After all, we have formed two shooting stars in a row which of course shows a significant amount of resistance just above at the $17.50 handle, but we also recognize that there is quite a bit of support near the $17.00 handle. Because of this, we anticipate short-term put buying opportunities followed by perhaps longer-term call buying opportunities near the $17 level. We will look for resistive candles on short-term charts in order to buy those puts.

2 – In the EUR/USD pair we managed to find enough trouble at the 1.15 level to turn things back around and start falling. We are put buyers and we believe that short-term charts will be the way going forward to continue to pushes market lower and buy puts. We have no interest whatsoever in buying calls, as the market is most certainly in a very massive downtrend at this point in time and should head to the 1.10 handle given enough time.

3 – Looking at the S&P 500, the market is very back and forth and we do not anticipate much in the way of movement. The 2060 level above is massively resistive, so we think we will more than likely pullback a little bit in order to find momentum and give us a shot to break out. Because of this we are looking for pullbacks to buy calls, but we need to see supportive candles below in order to manage to start buying calls again. We have no interest in buying puts at this point in time.