Housing numbers

We have a couple of housing numbers coming out of the United States during the session tomorrow, but that’s about it. Because of this, we do not expect any massive move in the markets due to headline shock, so we believe technical analysis will be the way to go.

USD/JPY approaching significant resistance

The USD/JPY pair rose again during the session on Friday, but ran directly into resistance just above the 121 handle. Because of this, we think that the market is trying to break out but it may need a pullback in order to build up enough momentum. On pullbacks that show signs of support, we are call buyers. We are also call buyers above the 121.50 handle.

WTI Crude Oil finds support

The WTI Crude Oil markets fell initially during the day on Friday, but bounced off of the $44 level in order to form a bit of a hammer. Because of this, we are call buyers and we believe as long as we can remain above the $44 level, we will bounce eventually. With this, we have no interest in buying puts until we break down below the $44 level on a daily close.

Nasdaq 100 reaches to the upside

The Nasdaq 100 broke higher during the course of the day on Friday, but did run into a bit of resistance near the 4650 level. We feel that this market is a bit overextended at the moment and therefore needs to pull back. However, we are not buyers of puts, rather we would wait to see a pullback that show signs of support or a bounce that we can buy calls based upon. We are bullish of this market.