US Final GDP

The US Final GDP numbers come out today, so needless to say we will more than likely have quite a bit of focus on the US dollar and possibly the US stock markets. Ultimately, this is a market that will probably be somewhat US centric during the day, but we will look at other markets around the world as well.

USD/CAD offering call buying opportunities

The USD/CAD pair is offering call buying opportunities on pullbacks. We believe that the 1.38 level is essentially the “floor” in this market right now, and we are simply trying to build up enough momentum to finally break above the 1.40 level. Pullbacks offer value in the US dollar.

NASDAQ 100 bounces

The NASDAQ 100 bounced off of the 4500 level, an area that has been supportive and resistive in the past. Because of this, we can break above the top of the range for Monday, we are call buyers as the overall consolidation should continue.

WTI Crude Oil markets gapped higher

Even though the WTI Crude Oil markets gapped higher, we are not willing to buy calls at this point. You can see that the $36 level has offered quite a bit of resistance, and we should now fill that gap. We are put buyers immediately, and even more so on rallies that show signs of resistance on short-term charts. We have no interest in buying calls.