Looking at today's session, there’s very little to move the markets with perhaps the one exception being the consumer Price Index out of the United States, so for the most part we believe that it will be a fairly technically driven day.

USD/RUB forming a base

It appears that the United States dollar is trying to form a little bit of a base after falling against the Russian ruble. We believe that the 48.50 level will be where the buyers continue to step into the marketplace, so therefore we are buying calls on short-term pullbacks as long as we are above that level. If we fall below the 48.50 level, we feel that the market will continue to drop significantly.

The FTSE set to break out

The FTSE appears that it is finding enough support at the 7000 level in order to break out to the upside. We are buyers of calls at this point as long as we can stay above 7000, and believe that the market will eventually head towards the 7100 level. We do not expected to be an easy move, but the overall grind of this market is to the upside anyway.

WTI Crude Oil charging higher

The WTI Crude Oil market is one that we believe is very bullish longer term. We believe that there is a significant amount of support at the $58 level, so therefore as long as we are above that level we can only buy calls. However, we do not believe in buying puts until we get below the $56 level, leaving a $2 “no man’s land” between. We believe that a break above the $62 level frees this market to go much higher. The meantime look for support on short-term pullbacks.