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1 – The EUR/USD pair tried to rally during the course of the session on Friday, but as the day ended, we formed a nice-looking shooting star. The shooting star suggests that the 1.08 level continues offer significant resistance. With problems in Greece, it makes quite a bit of sense that the Euro would in fact continue to struggle overall. We believe that the EUR/USD pair should continue to go lower, probably heading to at least the 1.06 handle.

2 – The S&P 500 fell rather hard during the session on Friday, testing the 2080 handle. We believe that there is plenty of support just below, but we need to wait to see some type of supportive candle in order to serve buying calls. We believe the market should continue to go higher over the longer term, but this little bit of a pullback should be thought of as value, as opposed to some type of major trend reversal.

3 – WTI Could Oil went back and forth during the day on Friday as we continue to meander around the $56 level. Quite frankly we see quite a bit of resistance, at least all the way up to the $58 level, so we are not interested in buying calls. However, if we can break down below the bottom of the shooting star that had formed on Thursday, we would be buyers of puts as the market should drop to the $52 level is not lower.