USA and United Kingdom

During the session on Tuesday, there is almost nothing to move the markets outside of the United Kingdom or the United States, so having said that we will more than likely see most of the volatility and places like the FTSE, the GBP/USD, the EUR/USD, precious metals and of course the US stock markets in general.

NASDAQ 100 continues to look strong

Even though Monday was fairly quiet session on Monday, the NASDAQ 100 did pull back slightly. However, we found enough support at the 4600 level to bounce and form a bit of a hammer. With that, the market looks as if it is ready to bounce from here, so we are call buyers. We believe that the markets going to try to reach towards the 4700 level, and then perhaps higher than that. We have no interest in buying puts.

Gold continues to find support

Gold markets went sideways during the course of the session on Monday, as we continue to see quite a bit of support at the 1160 level. With that, we are buyers of calls in this area but recognize that short-term trades are probably about all we will get out of this action. We have no interest in buying puts.

FTSE ready to go higher

The FTSE bounced off of the 6400 level, and as a result it looks like we’re going to head to the 6500 level. With this, we are buyers of calls on signs of support or bounces, and most certainly willing to hang onto those calls above the 6500 level.