The session on Monday doesn’t really offer much in the way of economic announcements, but this doesn’t mean that there aren’t going to be buying opportunities.

1 – The EUR/USD pair is a prime example, as the market formed a shooting star during the Friday session. The market should sell off if we get below the bottom of the range. If so, we anticipate this pair going down to the 1.06 level. The area should again be supportive, but the path lower should be clear.

2 – The S&P 500 continues to meander just below the 2120 level. If we can get above there, we feel that the market should enter a new “buy and hold” type of mentality. The call buying opportunities should abound, and we will remain bullish overall. Pullbacks, when they come should offer call buying opportunities.

3 – The FTSE fell during the session on Friday, after testing the 7100 level yet again. This area has been resistance more than once, and the fact that we pull back to form a shooting star tells us that the market is probably going to drop to the 7000 level where will find support yet again. This offers a short-term put buying opportunity, with the possibility of buying calls on supportive candles near the 7000 level yet again. We believe that the FTSE will eventually break out though, and we most certainly have more of an upward bias for the longer term.

4 – Silver markets fell during the session on Friday as well, but remain above the 15.50 handle. This is an area that should be massively supportive, so we are waiting to see whether or not we get some type of supportive candle in order to start buying calls. As far as buying puts are concerned, we are no interest in doing so until we break well below the 15.50 handle as it has been so reliable for support.