The CAC initially fell during the course of the day on Tuesday, but found enough support at the €4800 level to turn things back around and form a hammer. Is because of this that we feel if the market can get above the €4900 level, that we can serve buying calls again. In the meantime, we think that there may be a bit of a bounce coming anyway, so we are not looking to buy puts.
Silver markets initially tried to rally during the day on Tuesday, but got beat back down and formed a shooting star. It is because of this that we feel the market is probably getting ready to head to the $15.50 level. With this, we are put buyers on a break of the bottom of the candle for the Tuesday session, which has us buying them at $15.93 going forward. We do not anticipate a major breakdown though, there should be plenty of support near the $15.55 area.
The S&P 500 initially fell during the day on Tuesday, but found enough support below to turn things back around and form a hammer. With this, we are buyers of calls as long as we stay above the 2080 level, and we fully anticipate seen this market head back to the 2120 level. We have no interest in buying puts now, simply because it appears that the buyers are starting to take over again.
Comments
Log in or sign up to join the conversation.