Several announcements before Christmas

During the day on Wednesday, the markets will be anticipating several announcements as we start to head into the Christmas holiday season. Because of the holiday, most of the announcements coming out of the western part of the world will be released on Wednesday instead of later in the week like they normally would be. This could lead to a fairly volatile session, so with that we take a look at the charts.

USD/CHF pulls back

Short-term put buyers may be entering the market as the USD/CHF pair looks ready to head back down towards the 0.98 handle. That area is massively supportive though, so quite frankly we have no interest in placing a longer-term trade. We do believe that the call buyers will return somewhere near the aforementioned 0.98 handle.

Gold looks vulnerable

Gold markets went back and forth during the course of the session on Tuesday, as we are approaching the top of the overall consolidation area. We believe that there is a little bit of room for the market to go higher before running into massive put buying. With this, we are looking for resistive candles or breakouts in order to start buying puts yet again.

NASDAQ 100 looks ready to go higher

The NASDAQ 100 initially fell during the session on Tuesday, but bounced in order to form a bit of a hammer. Because of this, we can break above the top of the hammer we feel that this market can continue to go higher and we will serve buying calls. The NASDAQ 100 looks ready to head back towards the 4725 level.