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Looking at the session for Thursday, without a doubt the most important announcement will be the interest-rate decision coming out of the Bank of England. Because of this, we may have a bit of a move in the FTSE and the GBP/USD pair, but ultimately we think that there will be much in the way of a surprise, and because of that, it's difficult to imagine that too many fireworks are going to be found in the marketplace.

Speaking of the GBP/USD, we did fall during the session on Wednesday, testing the 1.5250 region. We think that there's plenty of support down at the 1.52 area, so it's not until we get below there that we can serve buying puts again. Rallies at this point in time. Need to be looked at with suspicion, though, so we do see what happens but ultimately we feel that this pair does start to break down towards the 1.50 handle again.

The S&P 500 fell during the course of the session on Thursday, but we still find plenty of support below, so we are simply waiting on short-term supportive candles in order to buy calls in a market that we think is much higher given enough time. We have no interest in buying puts, we believe that there is far too much in the way of bullish pressure underneath to do so in a market that looks this strong.

)Looking at silver, we slammed into the 15.50 handle, but we think there is plenty of support all the way down to the 15.00 level, so we are looking for supportive candles in order to start buying silver calls yet again. We have no interest in buying puts, the support has been far too strong below, and therefore keeps us on the bullish side longer-term.