Video Length: 00:02:21

1 – The Monday session featured Memorial Day out of the United States, so of course the liquidity would’ve been roughly half of what we are used to seeing. However, the S&P 500 looks interesting as we were coming back to test previous resistance at the end of the day on Friday. If we can get a little bit of a bounce from here, we are call buyers as we believe the market will ultimately continue to go much higher.

2 – Gold markets did very little during the session on Monday as one would expect, but continue to respect the $1200 level as support. We believe that the market continues to bounce around between $1200 on the bottom, and $1215 on the top. We will continue to play that range back and forth until proven wrong. We believe that short-term trades are the only way to play the gold market at the moment. Silver is much the same as well, so we believe that this is probably due to the US dollar strength in general.

3 – The GBP/USD pair initially tried to rally during the day on Monday, but with most North American traders been away for the day, the markets and we did not have enough momentum to break in one direction or the other. Because of this, we believe that we are essentially looking at the 1.54 level is an area that has to hold in order for the uptrend to continue. If we break down below there, we would serve buying puts immediately. On the other hand, any type of bounce has us buying calls and aiming for the 1.57 region.